(a) Except as otherwise provided by § 466-36, the board shall adopt the Standards for Performing and Reporting on Peer Reviews and any applicable ethical requirements adopted by the American Institute of Certified Public Accountants and the public company accounting oversight board firm inspection standards for public company audit firms required under the Sarbanes-Oxley Act of 2002, as amended, as its minimum standards for peer reviews.

Terms Used In Hawaii Revised Statutes 466-33

  • Board: means the state board of public accountancy established under § 466-4. See Hawaii Revised Statutes 466-3
  • Certified public accountant: means the designation given to a person licensed under § 466-5 or the law of any other state or foreign country. See Hawaii Revised Statutes 466-3
  • Firm: means a sole proprietorship, a corporation, a partnership, a limited liability company, or a limited liability partnership. See Hawaii Revised Statutes 466-3
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Peer review: means a study, appraisal, or review of one or more aspects of the professional work of a firm that issues attest reports by a person or persons who hold permits to practice public accountancy under § 466-7 or are licensed to practice public accountancy in any other state and who are not affiliated with the firm being reviewed. See Hawaii Revised Statutes 466-3
  • State: means any state, territory, or insular possession of the United States, except that "this State" means the State of Hawaii. See Hawaii Revised Statutes 466-3
(b) Subject to §§ 466-40 and 466-41, qualified sponsoring organizations shall be the American Institute of Certified Public Accountants peer review program, the Hawaii Society of Certified Public Accountants peer review program, state certified public accountant societies fully involved in the administration of the American Institute of Certified Public Accountants peer review program, the public company accounting oversight board, the board, and other entities that are approved by the board.

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