Chapter 06. Peer Review

A firm that provides any of the services described in Business Occupations and Professions Article, §2-4A-04, Annotated Code of Maryland, shall be required to undergo, at least once every 3 years, a peer review as a condition of permit renewal.

A licensee who provides any of the services described in Business Occupations and Professions Article, §2-4A-04, Annotated Code of Maryland, in a firm holding a permit issued by the Board is not required to undergo a separate peer review as a condition for license renewal.

A licensee who provides any of the services described in Business Occupations and Professions Article, §2-4A-04, Annotated Code of Maryland, other than in a firm holding a permit issued by the Board, shall be required to undergo, at least once every 3 years, a peer review as a condition of license renewal.

For purposes of this requirement, firms or licensees that only provide compilation services to clients for management use only, the products of which are not disclosed to third parties, are not required to have a peer review as described in Business Occupations and Professions Article, §2-4A-02, Annotated Code of Maryland.

In order to qualify for purposes of license or permit renewal, a peer review shall be conducted in an approved peer review program in accordance with:

The Board shall maintain on its website a list of all approved peer review programs and standards.

To the extent that there is any conflict between any peer review standards approved by the Board and Maryland law or regulations, Maryland law and regulations shall prevail.

Approval by the Board.

In order to receive and maintain approval as a peer reviewer from the Board, an individual shall comply with the requirements set forth in Business Occupations and Professions Article, §2-4A-05, Annotated Code of Maryland.

The Board may revoke its approval of a peer reviewer for the reasons set forth in Business Occupations and Professions Article, §2-4A-05(g), Annotated Code of Maryland.

A peer reviewer shall conduct a peer review intended to satisfy the requirement set forth in Business Occupations and Professions Article, §2-4A-02, Annotated Code of Maryland, in accordance with a peer review program approved by the Board.

An approved peer review program shall notify the Board upon completion of a peer review within that program that is intended to satisfy the peer review requirements of the Maryland Public Accountancy Law.

A peer reviewer shall ensure that a copy of the report of findings is provided to the Board only under the circumstances set forth in Business Occupations and Professions Article, §2-4A-05(e), Annotated Code of Maryland.