61H1-22.001: Competence (General Standards)
PURPOSE AND EFFECT: The Board proposes the rule amendment in order to clarify language concerning the certified public accountant.
SUMMARY: Language concerning the certified public accountant will be clarified.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared. The Board determined the proposed rule will not have an impact on small business.
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: 473.304, 473.315 FS.
LAW IMPLEMENTED: 473.315 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:
61H1-22.001 Competence (General Standards).
A certified public accountant licensee shall comply with the following general standards and must justify any departures therefrom:
(1) Professional competence. A certified public accountant licensee shall undertake only those engagements which he or his firm can reasonably expect to complete with professional competence. A certified public accountant CPA must be in charge of all public accounting services performed by the firm.
(2) Due professional care. A certified public accountant licensee shall exercise due professional care in the performance of an engagement.
(3) Planning and supervision. A certified public accountant licensee shall adequately plan and supervise an engagement.
(4) Sufficient relevant data. A certified public accountant licensee shall obtain sufficient relevant data to afford a reasonable basis for conclusions or recommendations in relation to an engagement.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 12-4-79, Amended 2-3-81, Formerly 21A-22.01, 21A-22.001, Amended 12-30-97,_________.