DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
RULE NO.:RULE TITLE:
61H1-21.001Independence
NOTICE OF CHANGE
Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 46 No. 141, July 21, 2020 issue of the Florida Administrative Register.
The changes are in response to written comments submitted by the staff of the Joint Administrative Procedures Committee and discussion and subsequent vote by the board at a public meeting held September 24, 2020. The changes are as follows:
61H1-21.001 Independence.
(1) The practice of certified public accounting, pursuant to section 473.302(8), F.S., includes engagements and attestation services utilizing internal controls over financial reporting. A certified public accountant (licensee) engaged to provide attest or assurance services over financial statements or other financial information shall conduct the engagement in accordance with auditing standards generally accepted in the United States of America and compliant with the regulatory authority governing the service.
(2) Licensees providing attestation services shall be independent and function with sufficient transparency to avoid apparent or the appearance of compromised integrity or objectivity in the rendering of the service. In their reporting, licensees shall also comply with the following standards of practice:
(a) Reference the standards in the report applicable to the report written;
(b) Rely on the standards applicable to the report written; and
(c) Complete the engagement in accordance with those standards applicable to the report.
(3) Licensees who fail to demonstrate independence, pursuant to the standards of practice referenced in paragraphs (1) and (2) of this rule, must withdraw from that engagement and shall not issue the report. A licensee whose independence is otherwise impaired shall disclose the nature of impairment in the report.
Licensees providing attest services shall be independent pursuant to the standards applicable to the report issued.
Rulemaking Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 12-4-79, Amended 2-3-81, 10-28-85, Formerly 21A-21.01, Amended 10-20-86, Formerly 21A-21.001, Amended 5-21-03, 1-31-05, 12-10-09,_______________.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Roger Scarborough, Division Director, Board of Accountancy, 240 NW 76th Dr., Suite A, Gainesville, Florida 32607, Roger.Scarborough@myfloridalicense.com.
