Section 43-3-23. Renewal of registration

   (a) In each renewal year, each firm registered in the state pursuant to Code Section 43-3-21 which has issued an audit, review, or compilation report within the 24 months preceding the date of expiration of the firm's registration must submit, with the application for renewal, evidence of satisfactory completion of a board approved peer review program within the 36 months preceding the date of such firm's registration expiration. Satisfactory completion shall mean that the firm has undergone the entire peer review process and that the report of the peer review indicates that the firm maintains acceptable standards of competence and integrity in the practice of public accountancy. Firms which have not issued an audit, review, or compilation report within the 24 months preceding the date of the firm's registration expiration must submit written confirmation of such fact with the application for the firm's registration renewal. The board may waive or modify the requirements of this subsection in cases of hardship or other such circumstances which the board deems appropriate. The provisions of this subsection shall not apply to the practice of an enrolled agent before the federal Internal Revenue Service or the Department of Revenue if the enrolled agent is not otherwise engaged in the practice of public accounting in this state.

(b) No firm shall be registered in the state which shall have failed to comply with the provisions of this Code section and all applicable requirements of law and rules promulgated by the board.

(c) This Code section shall be construed to apply only to firms required to be registered under this chapter. Nothing contained in this Code section shall prohibit any person from operating under the provisions of subsection (b) of Code Section 43-3-36.

Code 1981, § 43-3-23.1, enacted by Ga. L. 1988, p. 1616, § 3; Code 1981, § 43-3-23, as redesignated by Ga. L. 1997, p. 1545, § 3.