Minnesota Administrative Rules

1105.5200 QUALIFICATIONS OF REVIEWER.

The reviewer shall have the following minimum qualifications:

A.

hold a certificate with an active status or permit as a CPA or a firm, from any state; and have undergone at least one quality review;

B.

have knowledge and experience with the type of reports and financial statements to be reviewed, including experience in supervision of the preparation of the reports and statements;

C.

be independent of the firm under review;

D.

have no conflict of interest;

E.

be familiar with all services in the area of auditing and accounting provided by the firm subject to review;

F.

be familiar with the procedure for conducting a quality review according to professional standards for reviews; and

G.

have the expertise, experience, and qualifications to conduct a quality review.

Statutory Authority:

MS s 326.18; 326A.02

History:

27 SR 1425; 33 SR 476

Published Electronically:

September 18, 2008