30 Miss. Code. R. 1-5.2 - Definitions
The following words and phrases, when used in this chapter and the peer review program, shall have the following meanings:
(a) "Administering Entity (AE)" means an
entity approved by a Board-approved sponsoring organization to administer the
Board-approved peer reviewprogram.
(b) "Enrollment in a peer review program"
means a firm is required to follow all requirements of the peer review process,
cooperate with those performing and administering the peer review, comply with
the peer review standards and inform Administering Entities when firm changes
occur.
(c) "Peer Review Program"
means the sponsoring organization's entire peer review process, including but
not limited to the standards for administering, performing, and reporting on
peer reviews, oversight procedures, training, and related guidance
materials.
(d) "Peer Review
Oversight Committee" ("PROC") means a Board-appointed committee for monitoring
the Board-approved peer review program, including sponsoring organizations'
Administering Entities, to provide reasonable assurance that Administering
Entities and respective Peer Review Committee and Report Acceptance Bodies are
functioning in a manner that effectively enforces the performance and reporting
of peer review in accordance with peer reviewstandards.
(e) "Peer Review Standards" means the
Board-approved professional standards and guidance for administering,
performing and reporting on peer reviews.
(f) "Peer Reviewer/Reviewing Firm" means a
certified public accountant/ accounting firm responsible for conducting the
peer review, holding a valid and active license to practice public accounting
in good standing issued by this state or some other state, and meeting the peer
reviewer qualifications to perform peer reviews established in the
Board-approved peer review standards.
(g) "Practice Unit" means a CPA firm as
defined by the definitions of these regulations and required to be Board
registered with a firm permit for the purpose of the practice of public
accountancy including a sole proprietor, and licensees aggregated by the Board
into a practice unit.
(h)
"Sponsoring Organization" means a Board-approved professional association,
society, or other organization responsible for the facilitation and
administration of peer reviews directly or through its Administering Entities
and responsible for the oversight of the Administering Entities pursuant to the
sponsoring organization's peer review standards.
Notes
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