(1) A practice unit enrolled in the AICPA peer review program is exempt from the board's profession monitoring program (PMP), provided a peer review has been completed within the three preceding calendar years, the report did not receive a peer review rating of "fail," and the practice unit fully participated in the Facilitated State Board Access (FSBA) program. Fully participating in the FSBA means board staff must be able to retrieve the peer review report, letter of response (if any), and acceptance letter from the administering entity.

(2) Alternative peer reviews (such as legislative audits of government entities) may be sanctioned by the board, which may also exempt a practice unit from the board's PMP.

(3) The board reserves the authority to request a practice unit to submit a copy of any or all reports, financial statements, and supporting work papers for engagements subject to peer review.

(4) The board reserves the authority to exempt permit holders who would otherwise be required to file a report under ARM 24.201.1107 for good cause.