(a) Each reviewer shall maintain all documentation necessary to establish that each review conforms to the review standards of the relevant review program, including the review working papers, copies of the review report, and any correspondence indicating the firm‘s concurrence and non-concurrence, along with any proposed remedial actions and any related implementation.

Terms Used In Hawaii Revised Statutes 466-37

  • Board: means the state board of public accountancy established under § 466-4. 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
  • Report: when used with reference to financial statements, means an opinion, report, or other form of language that states or implies the measure of assurance as to the reliability of any financial statements, and that also includes, or is accompanied by, any statement or implication that the firm issuing it has special knowledge or competence in accounting or auditing. See Hawaii Revised Statutes 466-3
  • Sponsoring organization: means a third-party entity that meets the standards specified by this part for administering a peer review. See Hawaii Revised Statutes 466-31
(b) The documents described in subsection (a) shall be retained by the reviewer for a period of time corresponding to the retention period of the sponsoring organization, and upon request of the board, shall be made available to the board; provided that the document shall be retained for at least one hundred twenty days after the date of completion of the review by the sponsoring organization.

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