Nevada § 628.435 - Attestations applicable to particular engagements: Compliance with professional standards for accounting and documentation; retention of documentation

§ 628.435. Attestations applicable to particular engagements: Compliance with professional standards for accounting and documentation; retention of documentation

1. A practitioner shall comply with all professional standards for accounting and

documentation related to an attestation applicable to particular engagements. 2. Except as otherwise provided in this section and in all professional standards

for accounting and documentation related to an attestation applicable to particular

engagements, a practitioner shall retain all documentation related to an attestation

for not less than 5 years after the date of the report containing the attestation. 3. Documentation related to an attestation that, at the end of the retention period

set forth in subsections 1 and 2, is a part of or subject to a pending investigation

of, or disciplinary action against, a practitioner must be retained and must not be

destroyed until the practitioner has been notified in writing that the investigation

or disciplinary action has been closed or concluded. 4. As used in this section: (a) “ Documentation related to an attestation ” includes, without limitation: (1) All documentation relating to consultations and resolutions of any differences

of professional opinion regarding the exercise of professional judgment relating to

an attestation; and (2) Documentation of the findings or issues related to the attestation that, based

on the judgment of the practitioner after an objective analysis of the facts and circumstances,

is determined to be significant, regardless of whether the documentation includes

information or data that is inconsistent with the final conclusions of the practitioner. (b) “ Practitioner ” means: (1) A holder of a certificate issued pursuant to NRS 628.190 to 628.310 , inclusive, or a permit issued pursuant to NRS 628.380 ; (2) A partnership, corporation, limited-liability company or sole proprietorship registered

pursuant to NRS 628.335 ; or (3) A natural person or certified public accounting firm granted practice privileges

pursuant to NRS 628.315 .