WSR 06-17-014



[ Filed August 4, 2006, 2:37 p.m. ]

Subject of Possible Rule Making: WAC 4-25-820 What are the requirements for participating in quality assurance review (QAR)?

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 18.04.055(9).

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Currently WAC 4-25-820 refers to attest standards and then limits the board's quality assurance review (QAR) program to the review of only reports and historical financial statement presentations in accordance with generally accepted accounting principles (GAAP) or other comprehensive basis of accounting. This excludes reports by certified public accountants (CPAs) on internal control, performance audit reports, or forecasts and projections covered by attestation standards. These types of reports are routinely issued by CPA firms and the board believes these types of reports should be subject to review in order to monitor Washington CPA's compliance with professional standards.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.

Process for Developing New Rule: Agency study.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Richard C. Sweeney, CPA, Executive Director, Washington State Board of Accountancy, P.O. Box 9131, Olympia, WA 98507-9131, (360) 586-0163, fax (360) 664-9190, e-mail

August 3, 2006

Richard C. Sweeney

Executive Director

Washington State Code Reviser's Office