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defined service other than compilations must successfully | | participate in an approved peer review program. Participation in | | such a program is governed by the following. |
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| | A. If the firm provides a defined service other than | compilations as of the date of the initial granting or first | renewal of a certified public accountancy firm's permit | following December 15, 2000, a | completed within 18 months after the initial granting or | first renewalfollowing December 15, 2000 | After December 15, 2000, the | | review every 3 years for as long as it provides a defined | service other than compilations. The firm may satisfy this | requirement by showing evidence of the satisfactory | completion of a peer review within 18 months prior to | January 1, 2001. |
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| | | B. A certified public accountancy firm that does not | | provide a defined service other than compilations is not | | required to undergo a peer review if the firm annually | | confirms in writing to the board that it does not provide a | | defined service other than compilations. A certified public | | accountancy firm that subsequently provides a defined | | service other than compilations must undergo a peer review | | within 18 months after the fiscal year end of the first | | defined services engagement other than compilations that it | accepts. Subsequent peer reviews are governed by the | provisions of paragraph A. |
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| | | The board is authorized to adopt rules to carry out the intent of | | this subsection. Rules adopted pursuant to this subsection are | | routine technical rules pursuant to Title 5, chapter 375, | subchapter II-A |
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| | | Sec. E-1. 32 MRSA §14701, sub-§4, as amended by PL 2005, c. 65, Pt. C, | | §19, is further amended to read: |
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| | | 4. Merchandise. "Merchandise" includes any objects, wares, | | goods, promises, commodities, intangibles, services or other | | things of value but does not include food or technical or | | vocational schools located outside of the State that are | | registered pursuant to Title 20-A, section 9501. "Merchandise" | | does not include securities that are registered or exempt from | | registration pursuant to chapter 135, the Maine Uniform | | Securities Act and rules adopted pursuant to that Act or | | insurance products that are regulated under Title 24-A. |
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