61H1-33.0035: Continuing Professional Education/Governmental Auditing
PURPOSE AND EFFECT: The Board proposes the rule amendment in order to provide an update of the documents incorporated into the rule.
SUMMARY: The rule amendment will update the documents incorporated into the rule.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
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.
SPECIFIC AUTHORITY: 473.312(3) FS.
LAW IMPLEMENTED: 473.312(3) FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Veloria Kelly, Division Director, Board of Accountancy, 240 N. W. 76th Dr., Suite A, Gainesville, Florida 32607
THE FULL TEXT OF THE PROPOSED RULE IS:
61H1-33.0035 Continuing Professional Education/ Governmental Auditing.
(1) Effective with the CPE reporting period ending June 30, 2006:
(1)(a) Any licensee who is involved in governmental audits shall be required to comply with the CPE requirements imposed by Government Auditing Standards 2007 1994 commonly referred to as the “Yellow Book,” effective July 2007, which is hereby incorporated by reference, if during the engagement:
(a)1. The licensee is the in charge person, or
(b)2. The licensee reviews the working papers or report or both, or
(c)3. The licensee supervises others, or
(d)4. The licensee is the only licensee performing the work.
(2)(b) Licensees conducting audits controlled by either subparagraph (a)1. or (b)2. below, shall be required to take 24 hours of governmental CPE and shall be required to comply with the CPE requirements imposed by Government Auditing Standards.
(a)1. Government Auditing Standards 2007 1994 Revision, issued by the Comptroller General of the .
(b)2. The Rules of the Auditor General, Chapter 10.550, which may be obtained at http://www.myflorida.com/audgen/pages/rules.htm.
(3)(2) The required 24 hours of governmental CPE may be used to meet the courses required in paragraph 61H1-33.003(1)(a), F.A.C., provided they meet the requirements of subsection 61H1-33.003(2), F.A.C.
Specific Authority 473.312(3) FS. Law Implemented 473.312(3) FS. History–New 8-22-90, Amended 7-7-92, Formerly 21A-33.0035, Amended 5-2-96,_________.