The purpose of these amendments is to remove old, or outdated materials in reference to rule text.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION

Board of Employee Leasing Companies

RULE NOS.:RULE TITLES:

61G7-5.0031Audited Financial Statements

61G7-5.0032Reviewed Financial Statements

61G7-5.0033Consolidated and Combined Financial Statements

PURPOSE AND EFFECT: The purpose of these amendments is to remove old, or outdated materials in reference to rule text.

SUMMARY: Remove old text.

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 concluded that this rule change will not have any impact on licensees and their businesses or the businesses that employ them. The rule will not increase any fees, business costs, personnel costs, will not decrease profit opportunities, and will not require any specialized knowledge to comply. This change will not increase any direct or indirect regulatory costs. Hence, the Board 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: 468.522, 468.525(3)(e) FS.

LAW IMPLEMENTED: 468.525(3)(e), 468.525(2)(c), 468.526 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:

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

61G7-5.0031 Audited Financial Statements.

(1) through (2) No change.

(3) All audited financial statements must be prepared in accordance with generally accepted accounting principles (GAAP), pursuant to Rule 61H1-22.003, F.A.C., and generally accepted auditing standards (GAAS), pursuant to Rule 61H1-22.002, F.A.C.

(4) through (5) No change.

Rulemaking Specific Authority 468.522, 468.525(3)(e) FS. Law Implemented 468.525(3)(e) FS. History–New 8-17-94, Amended 5-26-96, 9-5-04,                  .

 

61G7-5.0032 Reviewed Financial Statements.

(1) through (2) No change.

(3) All reviewed financial statements must be prepared in accordance with generally accepted accounting principles (GAAP), pursuant to Rule 61H1-22.003, F.A.C., and Standards for Accounting and Review Services (SARS), pursuant to Rule 61H1-22.004, F.A.C.

(4) through (5) No change.

Rulemaking Specific Authority 468.522, 468.525(3)(e) FS. Law Implemented 468.525(3)(e) FS. History–New 8-17-94, Amended 5-26-96, 9-5-04,                .

 

61G7-5.0033 Consolidated and Combined Financial Statements.

(1) All reviewed or audited financial statements submitted to the Department by Florida licensed employee leasing companies shall be presented in accordance with Generally Accepted aAccounting pPrinciples generally accepted in the United States of America (formally referred to as (GAAP), as required by Section 468.525(3)(d), F.S.

(2) through (5) No change.

Rulemaking Authority 468.522 FS. Law Implemented 468.525(2)(c), (3)(e), 468.526 FS. History-New 5-26-96, Amended 9-5-04, 11-9-06, 8-1-11, 2-8-16, 2-28-18,               .

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Board of Employee Leasing Companies

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Board of Employee Leasing Companies

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: March 15, 2022

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: December 13, 2021