Peer Review Administering Entities.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Board of Accountancy

RULE NO.:RULE TITLE:

61H1-39.003Peer Review Administering Entities

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. 39, No. 226, November 20, 2013 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 comments received by the public. The changes are as follows:

1. Subsection (1) will remain as noticed.

2. Subsection (2) shall now read as follows:

(2) To be approved by the Board as a Peer Review Administering Entity (AE), an organization must submit an administration plan to the Board for review and approval. The plan of administration must:

3. Subsection (2)(a) shall now read as follows:

(a) Establish Report Acceptance Bodies (RAB) and provide professional staff, as needed, for the operation of the review program;

4. Subsection (2)(b) shall now read as follows:

(b) Establish and document a program to communicate to enrolled Firms the latest development in peer review standards and the most common findings in the reviews conducted by the AE;

5. Subsection (2)(c) shall remain as noticed.

6. Subsection (2)(d) shall now read as follows:

(d) Establish procedures to resolve matters which may lead to the dismissal of a Firm from the peer review program, and conduct hearings pursuant to those procedures;

7. Subsections (2)(e) through (2)(g)shall remain as noticed.

8. Subsection (3) shall now read as follows:

(3) The Board adopts the 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.

9. Subsection (4) shall now read as follows:

(4) If requested by the Board or the Peer Review Oversight Committee, a peer review administering entity shall provide a list of the Firms enrolled in its programs and the date of their last peer review.

10. Subsection (5) will be added and shall read as follows:

(5) The Board shall maintain a list of Board-approved peer review administering entities.

 

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