61H1-29.002: Temporary License
PURPOSE AND EFFECT: The Board proposes to amend the rule to delete the requirements that out-of-state certified public accountants of firms who have received a temporary permit submit various financial statements in certain circumstances.
SUBJECT AREA TO BE ADDRESSED: Temporary License Requirements.
SPECIFIC AUTHORITY: 473.304, 473.305, 473.314 FS.
LAW IMPLEMENTED: 473.314, 473.315 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE NOTICED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE WEEKLY.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: John Johnson, Executive Director, Board of Accountancy/ MQA, 240 N.W. 76th Dr., Suite A, Gainesville, Florida 32607
THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS:
61H1-29.002 Temporary License.
(1) through (8) No change.
(9)(a) Any out-of-state certified public accountant or firm who receives a temporary permit during any calendar year is hereby required to submit one audited, one reviewed, and one compiled financial statement at the time the first permit application is made during each calendar year for review by the Board of compliance with the requirements of Section 473.315, F.S., and the rules promulgated thereto.
(b) An out-of-state CPA or firm who seeks to perform a peer review or a quality review on a Florida CPA or firm shall not be required to provide the information set forth in paragraph 61H1-29.002(9)(a), F.A.C., as long as the CPA or firm seeking to perform the review has received an unqualified peer review report from the AICPA approved by the Board within three years of the date of completion of the peer review for which the temporary permit is being sought and provides evidence thereof to the Board. Association of certified public accounting firms who wish to be exempted under the provisions of Section 473.302(4), F.S. must submit their plans of administration or evidence of authorization from the AICPA to conduct quality reviews to the Board for approval on an annual basis.
Specific Authority 473.304, 473.305, 473.314 FS. Law Implemented 473.314, 473.315 FS. History–New 12-4-79, Amended 2-3-81, 10-19-83, Formerly 21A-29.02, Amended 5-3-88, 12-3-89, 6-13-90, 3-29-92, 12-2-92, Formerly 21A-29.002, Amended 6-28-94, 1-11-95, ________.