The Board proposes the rule amendment to clarify language regarding the American Institute of Certified Public Accountants.  

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    DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

    Board of Accountancy

    RULE NO.:RULE TITLE:

    61H1-39.003Peer Review Administering Entities

    PURPOSE AND EFFECT: The Board proposes the rule amendment to clarify language regarding the American Institute of Certified Public Accountants.

    SUMMARY: Language regarding the American Institute of Certified Public Accountants will be clarified.

    SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

    The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

    The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: During discussion of the economic impact of this rule at its Board meeting, the Board, based upon the expertise and experience of its members, determined that a Statement of Estimated Regulatory Costs (SERC) was not necessary and that the rule will not require ratification by the Legislature. No person or interested party submitted additional information regarding the economic impact at that time.

    Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

    RULEMAKING AUTHORITY: 473.3125, 473.304 FS.

    LAW IMPLEMENTED: 473.3125(2) FS.

    IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

    THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Veloria A. Kelly, Division Director, Board of Accountancy, 240 NW 76th Drive, Suite A, Gainesville, Florida 32607

     

    THE FULL TEXT OF THE PROPOSED RULE IS:

     

    61H1-39.003 Peer Review Administering Entities.

    (1) through (2) No change.

    (3) The Board adopts the American Institute of Certified Public Accountants (AICPA) as an approved AE and its Peer Review Program and other Peer Review Programs administered by entities fully involved in the administration of the AICPA Peer Review Program. These AEs are not required to submit a plan of administration required in subsection (2) above. The Board may approve other AEs.

    (4) through (5) No change.

    Rulemaking Authority 473.3125, 473.304 FS. Law Implemented 473.3125(2) FS. History‒New 5-4-14,                       .

     

    NAME OF PERSON ORIGINATING PROPOSED RULE: Board of Accountancy

    NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Board of Accountancy

    DATE PROPOSED RULE APPROVED BY AGENCY HEAD: December 15, 2017

    DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: January 10, 2018

Document Information

Comments Open:
1/26/2018
Summary:
Language regarding the American Institute of Certified Public Accountants will be clarified.
Purpose:
The Board proposes the rule amendment to clarify language regarding the American Institute of Certified Public Accountants.
Rulemaking Authority:
473.3125, 473.304 FS.
Law:
473.3125(2) FS.
Contact:
Veloria A. Kelly, Division Director, Board of Accountancy, 240 NW 76th Drive, Suite A, Gainesville, Florida 32607
Related Rules: (1)
61H1-39.003. Peer Review Administering Entities