4701-9-10 Quality control standards.

(A) A registered firm that performs accounting and auditing services in accordance with the professional standards defined in Chapter 4701-9 of the Administrative Code shall comply with the applicable standards for quality control defined in paragraph (B) of this rule.

(B) Quality control standards are defined as "Statements on Quality Control Standards" issued by the "American Institute of Certified Public Accountants" and published on its website (www.aicpa.org).

(C) An Ohio permit holder may comply with one or more of the "International Standards on Quality Control" issued by the "International Auditing and Assurance Standards Board" and published on the "International Federation of Accountants" website (www.ifac.org) if the standards in paragraph (B) of this rule, as applicable to the specific accounting or auditing engagement, permit the use of those standards.

Effective: 12/12/2016
Five Year Review (FYR) Dates: 09/26/2016 and 12/11/2021
Promulgated Under: 119.03
Statutory Authority: 4701.03
Rule Amplifies: 4701.03
Prior Effective Dates: 6/1/04, 10/22/04, 8/25/05, 4/28/11