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Tennessee board backs comment letter urging PEAK exposure-draft clarity on independence and transparency
Summary
The Tennessee State Board of Accountancy approved staff's draft comment letter on the AICPA PEAK exposure draft, urging stronger emphasis on independence (fact and appearance), continuous monitoring expectations, and transparency of APS/ownership structures.
The Tennessee State Board of Accountancy voted May 5 to submit a comment letter in response to the AICPA27s PEAK exposure draft and related materials, echoing concerns that the draft lacks sufficient emphasis on independence, monitoring, and public disclosure.
Executive Director Jen Binkley presented a draft that highlights four central points: independence in fact and appearance, the complexity of structural permissibility, the need for some…
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