61H1-22.002: Auditing Standards
61H1-22.003: Accounting Principles
61H1-22.004: Standards for Accounting and Review Services
61H1-22.005: Prospective Financial Statements
61H1-22.006: Governmental Accounting Standards
61H1-22.007: Governmental Auditing Standards
61H1-22.008: Standards for Local Governmental Audits
61H1-22.0081: Standards for Florida Single Audit Act Audits for Nonprofit and For-Profit Organizations.
61H1-22.0082: Standards for Audits of Certain Nonprofit Organizations.
61H1-22.0083: Standards for Audits of District School Boards.
61H1-22.0084: Standards for Audits of Charter Schools and Similar Entities.
61H1-22.0085: Standards for Management Advisory Services
61H1-22.0086: Standards for Tax Practice
61H1-22.009: Standards for Attestation Engagement
61H1-22.010: Standards for Personal Financial Planning
61H1-22.011: Standards for Business Valuations
61H1-22.012: Standards for Assembled Financial Statements
PURPOSE AND EFFECT: The Board proposes to repeal the rules as the necessary language has been moved to Chapter 20.
SUMMARY: The rules are being repealed due to the fact the necessary language has been moved to Chapter 20.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared. The Board determined the proposed rules 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., Chapter 79-202, Laws of Florida.
LAW IMPLEMENTED: 473.304, 473.315 FS, Chapter 79-202, Laws of Florida, ss. 1, 12, Ch. 98-340, Laws of Florida.
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 A. Kelly, Division Director, Board of Accountancy, 240 N.W. 76th Drive, Suite A, Gainesville, Florida 32607
THE FULL TEXT OF THE PROPOSED RULE IS:
61H1-22.002 Auditing Standards.
A licensee shall not permit his name to be associated with financial statements in such a manner as to imply that he is acting as an independent certified public accountant unless he has complied with the applicable generally accepted auditing standards. Statements on Auditing Standards as published by the American Institute of CPAs, are for purposes of this rule, deemed and construed to be interpretations of generally accepted auditing standards, and departures from such statements must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 12-4-79, Formerly 21A-22.02, 21A-22.002, Repealed__________.
61H1-22.003 Accounting Principles.
A licensee shall not express an opinion that financial statements are presented in conformity with generally accepted the statements taken as a whole, unless he can demonstrate that due to unusual circumstances that financial statements would otherwise have been misleading. In such cases his report must describe the departure, the approximate effects thereof, if practicable, and the reasons why compliance with the principle would result in a misleading statement.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 12-4-79, Amended 2-3-81, Formerly 21A-22.03, 21A-22.003, Repealed__________.
61H1-22.004 Standards for Accounting and Review Services.
Licensees performing accounting services in connection with a review or compilation of financial statements shall comply with Statements on Standards for Accounting and Review Services as published by the American Institute of Certified Public Accountants. Departures from such Standards must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 12-4-79, Formerly 21A-22.04, 21A-22.004, Repealed__________.
61H1-22.005 Prospective Financial Statements.
A licensee shall not permit his name to be used in conjunction with prospective financial statements unless he has complied with standards for Accountants Services on Prospective Financial Statements published by the American Institute of Certified Public Accountants. Departures from such standards must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 12-4-79, Formerly 21A-22.05, Amended 3-28-89, Formerly 21A-22.005, Repealed__________.
61H1-22.006 Governmental Accounting Standards.
A licensee shall not permit his name to be associated with financial statements of units of government unless he has complied with standards for governmental accounting. Statements on Governmental Accounting issued by the Governmental Accounting Standards Board are, for the purposes of this rule, deemed and construed to be interpretations of generally accepted governmental accounting standards and departure from such statements must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315, Chapter 79-202, Laws of Florida. Law Implemented 473.315, Chapter 79-202, Laws of Florida. History–New 9-23-86, Formerly 21A-22.006, Repealed__________.
61H1-22.007 Governmental Auditing Standards.
A licensee shall not permit his name to be associated with financial statements of units of government unless he has complied with standards for governmental auditing. Standards for Audits of Governmental Organizations, Programs, Activities and Functions issued by the Comptroller General of the United States are, for purposes of this rule, deemed and construed to be interpretations of generally accepted governmental auditing standards and departure from such standards must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315, Chapter 79-202, Laws of Florida. Law Implemented 473.315, Chapter 79-202, Laws of Florida. History–New 9-23-86, Formerly 21A-22.007, Repealed__________.
61H1-22.008 Standards for Local Governmental Audits.
Licensees performing accounting services in connection with Local Governmental Entity Audits required to be filed with the Auditor General of the State of Florida shall comply with the standards set forth in Rule Chapter 10.550-10.559, Rules of the Auditor General of the State of Florida. Departures from such standards must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 10-22-86, Amended 5-9-88, Formerly 21A-22.008, Amended 9-30-97, Repealed__________.
61H1-22.0081 Standards for Florida Single Audit Act Audits for Nonprofit and For-Profit Organizations.
Licensees performing accounting services in connection with Standards for Florida Single Audit Act Audits for Nonprofit and For-Profit Organizations required by Section 215.97, F.S., to be filed with the Auditor General of the State of Florida shall comply with the standards set forth in Chapter 10.650, Rules of the Auditor General of the State of Florida. Departures from such standards must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 2-4-08, Repealed_________.
61H1-22.0082 Standards for Audits of Certain Nonprofit Organizations.
Licensees performing accounting services in connection with Standards for Audits of Certain Nonprofit Organizations required by Section 215.981(1), 1001.453(4), 1004.28(5), or 1004.70(6), F.S., to be filed with the Auditor General of the State of Florida shall comply with the standards set forth in Chapter 10.700, Rules of the Auditor General of the State of Florida. Departures from such standards must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 2-4-08, Repealed_________.
61H1-22.0083 Standards for Audits of District School Boards.
Licensees performing accounting services in connection with Standards for Audits of District School Boards required by Sections 11.45 or 218.39, F.S., to be filed with the Auditor General of the State of Florida shall comply with the standards set forth in Chapter 10.800, Rules of the Auditor General of the State of Florida. Departures from such standards must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 2-4-08, Repealed_________.
61H1-22.0084 Standards for Audits of Charter Schools and Similar Entities.
Licensees performing accounting services in connection with Standards for Audits of Charter Schools and Similar Entities required by Section 218.39 or 1002.37, F.S., to be filed with the Auditor General of the State of Florida shall comply with the standards set forth in Chapter 10.850, Rules of the Auditor General of the State of Florida. Departures from such standards must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 2-4-08, Repealed_________.
61H1-22.0085 Standards for Management Advisory Services.
Licensees performing management advisory services shall comply with the Statement on Standards for Management Advisory Services as published by the American Institute of CPAs. Departures from such statements must be justified by those who do not follow them.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 5-20-91, Formerly 21A-22.0085, Amended 9-30-97, Repealed__________.
61H1-22.0086 Standards for Tax Practice.
Licensees performing tax services shall comply with the Statement on Standards for Tax Services, as published by the American Institute of CPAs.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.304, 473.315 FS. History–New 5-20-91, Formerly 21A-22.0086, Amended 9-30-97, 5-24-07, Repealed__________.
61H1-22.009 Standards for Attestation Engagement.
A licensee shall not permit his name to be used in conjunction with any applicable attestation engagement unless he has complied with “Standards for Attestation Engagements” as published by the American Institute of Certified Public Accountants specified in Rule 61H1-20.0099, F.A.C.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 4-16-89, Formerly 21A-22.009, Amended 10-16-96, Repealed__________.
61H1-22.010 Standards for Personal Financial Planning.
Licensees performing personal financial planning services for clients shall comply with the “Statement on Responsibilities in Personal Financial Planning,” as published by the American Institute of CPAs.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 11-2-95, Amended 2-18-96, 9-30-97, Repealed__________.
61H1-22.011 Standards for Business Valuations.
Licensees performing business valuations for clients shall comply with “Consulting Services Practice Aid 93-3, Conducting a Valuation of A Closely Held Business,” published by the American Institute of CPAs. The rule does not encompass consulting engagements wherein a licensee provides written or oral advisory services in which the client is informed in writing that the services provided were not performed in accordance with Consulting Services Practice Aid 93-3 established by the AICPA.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented 473.315 FS. History–New 11-2-95, Amended 2-18-96, 9-30-97, Repealed__________.
61H1-22.012 Standards for Assembled Financial Statements.
Certified Public Accountants involved with offering to perform or performing assembled financial statements must comply with the provisions of 61H1-20.0053, F.A.C.
Rulemaking Specific Authority 473.304, 473.315 FS. Law Implemented ss. 1, 12, Ch. 98-340, Laws of Florida. History–New 10-28-98, Repealed__________.