Alaska Statutes
Article 3. Regulation of Accountants.
Sec. 08.04.426. Peer review.

(a) The board may require as a condition for renewal of a license or a permit that the applicant for the renewal provide evidence of enrollment in a peer review program approved by the board by regulation.
(b) [Repealed, § 44 ch 5 SLA 2022.]
(c) The board shall adopt the regulations under (a) and (f) of this section in a reasonable time before the regulations are scheduled to become effective.
(d) The regulations adopted under (a) or (f) of this section may require that
(1) an applicant demonstrate that the applicant has undergone a peer review that is a satisfactory equivalent to the peer review under (a) of this section;
(2) the administration of a peer review be subject to oversight by an oversight body established or approved by the board;
(3) a peer review be performed and the documents be maintained in a manner that is designed to preserve confidentiality; and
(4) organizations administering peer review programs provide information requested by the board.
(e) [Repealed, § 44 ch 5 SLA 2022.]
(f) The board shall, not more frequently than once every three years, require as a condition for renewal of a permit of a firm that the applicant firm undergo a peer review conducted as required by the board by regulation. The peer review must include verification that an individual who practices at the firm, including an individual who is responsible for supervising attest function services in the firm, and who signs or authorizes another person to sign the accountant's report on a financial statement on behalf of the firm, meets competency requirements established by the board. The regulations must
(1) include reasonable provision for compliance by a firm showing that it has, within the preceding three years, undergone a peer review acceptable to the board that is substantially equivalent to the peer review required in (d) of this section;
(2) require, for an organization administering peer review programs under (1) of this subsection, to be subject to periodic evaluation by the board to assess the effectiveness of the peer review program;
(3) require, for peer reviews under (1) of this subsection, timely submittal of peer review documents on board request; and
(4) maintain documents collected by the board under this subsection in a manner that is designed to preserve confidentiality.