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The periodicity of Peer Review in Level – I Practice Units is
The periodicity of Peer Review in Level – II Practice Units is
Board for peer review is constituted by
Board shall consist maximum of ___ members.
Members of the Board are appointed by
Out of total members, ________ shall be from amongst the members of the council as defined in section 9 of the Chartered Accountants Act, 1949, as amended from time to time.
The Council may nominate members to the Board from outside bodies and from amongst prominent individuals of ___________, including but not limited to regulatory authorities, bankers, economists etc.
The Chairman and the Vice-Chairman of the Board may be rotated ______________ by the Council of the Institute.
The term of two third members in the Board shall be for:
____________________ shall not be a member of the Board.
The Board shall meet as and when required for transaction of the business before it. However, at least one meeting shall be held in ___________.
Quorum of meeting of Board:
In the absence of quorum within _____________ of the time fixed for the meeting, the meeting shall stand adjourned to a date, time and place fixed by ____________.
A peer reviewer shall be a member in practice with at least ____ years of audit experience.
In case a member has moved from industry to practice and is currently in practice, he should have at least ____ years of audit experience in industry and at least ____ years audit experience in practice.
A peer reviewer shall:
A member on being appointed as a Reviewer shall be required to furnish-
A Reviewer shall not accept any professional assignment from the Practice Unit
Number of Qualified Assistants allowed is:
A Qualified Assistant shall be
Non-compliance with the secrecy provisions in the above clause shall amount to ________________ as defined under ________ of the Chartered Accountants Act, 1949.
A Declaration of Confidentiality shall be signed by:
Finally, the reviewer while evaluating records may consider the following to determine:
Any Practice Unit, in addition to the prescribed information to be furnished including the questionnaire, statements and such other particulars as the Board may deem fit, shall comply with the following:
a) Produce to the Reviewer or allow access to, any record, document or prescribed register maintained by the Practice Unit or any other record or document which is of a class or description so specified, and which is in the possession or under the control of the Practice Unit.
b) Provide to the Reviewer such explanation or further particulars/ information in respect of anything produced in compliance with a requirement under sub clause (1) above, as the Reviewer shall specify.
c) Provide to the Reviewer all assistance in connection with Peer Review.
d) Where any information or matter relevant to a Practice Unit is recorded otherwise than in a legible form, the Practice Unit shall provide and present to the Reviewer a reproduction of any such information or matter, or of the relevant part of it in a legible form, with a translation in English or Hindi, if the matter is in any other language, and if such translation is requested for by the Reviewer. The Practice Unit shall be responsible and accountable for the accuracy and truthfulness of the translation so provided.
The Reviewer shall document all his working papers and submit a copy of his working papers to the Board, if called for by the Board within ______ of submission of Review Report.
The entire Review process is completed within ______ from the date of notifying the Practice Unit about its selection for Review.