The Board proposes the rule promulgation to provide the definitions concerning peer review.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Board of Accountancy

RULE NOS.:RULE TITLES:

61H1-39.001Definitions

PURPOSE AND EFFECT: The Board proposes the rule promulgation to provide the definitions concerning peer review.

SUMMARY: The definition concerning peer review will be provided in the rule.

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(4) 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:

 

61H1-39.001 Definitions.

(1) “Board” means the Florida Board of Accountancy.

(2) “Compilation” means a service performed in accordance with American Institute of Certified Public Accountants, Incorporated’s Statement on Standards for Accounting Review Services Number 19 issued in December 2009, codified in AR 80 which is hereby adopted and incorporated by reference and available at http://www.aicpa.org/Research/Standards/CompilationReview/DownloadableDocuments/AR-00080.pdf.

(3) “Firm” means a sole proprietor, partnership, corporation, limited liability company, or any other firm required to be licensed under Section 473.3101, Florida Statutes.

(4) “Peer Review Administering Entity” or “AE” means an organization approved by the board to facilitate and administer a peer review program in accordance with the peer review standards established by the board.

(5) “Peer Review Program” means the entire peer review process of a peer review administering organization.

(6) “Review” means a service performed in accordance with American Institute of Certified Public Accountants, Incorporated’s Statement on Standards for Accounting Review Services Number 19 issued in December 2009, codified in AR 90 which is hereby adopted and incorporated by reference and available at http://www.aicpa.org/Research/Standards/CompilationReview/DownloadableDocuments/AR-00090.pdf .

Rulemaking Authority 473.3125, 473.304 FS. Law Implemented 473.3125(4) FS. History–New________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Veloria A. Kelly, Division Director, Board of Accountancy, 240 NW 76th Drive, Suite A, Gainesville, Florida 32607

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Veloria A. Kelly, Division Director, Board of Accountancy, 240 NW 76th Drive, Suite A, Gainesville, Florida 32607

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: October 4, 2013

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: November 4, 2013