Nashville, Tenn. (Aug. 27, 2004) -- The National Association of State Boards of Accountancy has proposed a set of rules that would have CPA firms self-report on their internal quality control procedures as well as those of their audit clients.

Unlike traditional quality review programs, the NASBA guidelines would mandate that firms submit to their respective state licensing boards any “adverse” quality control reviews of their operations. They also would have individual CPAs notify the boards of any civil charges brought against them involving fraud, violation of standards of practice or misappropriation of funds.

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