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Peer Review Oversight Committee prepares to monitor fast-moving AICPA changes
Summary
Oregon Board of Accountancy peer review oversight committee members discussed how AICPA/NASBA notifications flow to state oversight, confirmed staff follow-up, and agreed to monitor the FSBA for firm-term outcomes.
The Oregon Board of Accountancy Peer Review Oversight Committee spent its meeting clarifying how information from the AICPA and NASBA is communicated to state oversight and what interim signals (short of termination) the committee might expect. Darlene, a board staff member, said she would consult peer review experts and report back to the committee.
"I don't know the answer to that question, but I will teams my peer review experts back at the office while I'm on this meeting and report back later," Darlene said, offering to follow up after the meeting. Committee members noted that formal terminations are circulated nationally and appear on FSBA, but they pressed staff for any other feedback loops the AICPA or NASBA might provide.
Members emphasized monitoring the FSBA for changes in firm program status and asked staff to record any new corrective actions or referrals. The committee also flagged upcoming AICPA meetings and exposure-draft timelines that could produce short comment windows, and agreed to remain prepared to convene special meetings if necessary.
The committee did not take formal action on reporting procedures at this meeting; staff committed to reporting findings back to the committee and to keep firm-tracking current.
