Florida Senate - 2012 SB 1656
By Senator Latvala
16-01041A-12 20121656__
1 A bill to be entitled
2 An act relating to public accounting; amending s.
3 473.3035, F.S.; requiring that the Department of
4 Business and Professional Regulation conduct a
5 feasibility study to assess the privatization of the
6 Division of Certified Public Accounting; requiring the
7 study to be completed by a specified date; amending s.
8 473.308, F.S.; revising the criteria for the work
9 experience that is required for obtaining a license as
10 a certified public accountant in this state; requiring
11 the Board of Accountancy to certify as qualified for a
12 license by endorsement an applicant who holds a valid
13 license to practice public accounting issued by
14 another state and who meets certain other
15 requirements; amending s. 473.311, F.S.; requiring
16 that the department renew a license upon certification
17 by the board that the sole proprietor, partnership,
18 corporation, limited liability company, or other firm
19 engaged in the practice of public accounting is
20 enrolled in a peer review program; creating s.
21 473.3125, F.S.; providing definitions; requiring the
22 board to adopt rules that establish minimum standards
23 for peer review programs and minimum criteria for the
24 board’s approval of peer review administering
25 organizations that facilitate and administer peer
26 review programs; authorizing the board to establish a
27 peer review oversight committee; amending s. 473.313,
28 F.S.; providing requirements for renewing a license
29 that becomes inactive for failure of the licensee to
30 report the completion of a specified number of hours
31 of continuing professional education in public
32 accounting; providing an effective date.
33
34 Be It Enacted by the Legislature of the State of Florida:
35
36 Section 1. Subsection (3) is added to section 473.3035,
37 Florida Statutes, to read:
38 473.3035 Division of Certified Public Accounting.—
39 (3) Upon approval of the board, the department shall
40 conduct a feasibility study in accordance with s. 455.32(4) to
41 assess the privatization of the division. This study shall be
42 completed by November 30, 2012.
43 Section 2. Subsections (4) and (7) of section 473.308,
44 Florida Statutes, are amended to read:
45 473.308 Licensure.—
46 (4)(a) An applicant for licensure after December 31, 2008,
47 must show that he or she has had 1 year of work experience. This
48 experience shall include providing any type of service or advice
49 involving the use of accounting, attest, compilation, management
50 advisory, financial advisory, tax, or consulting skills, all of
51 which must be verified by a certified public accountant who is
52 licensed by a state or territory of the United States and who
53 has supervised the applicant. This experience is acceptable if
54 it was gained through employment in government, industry,
55 academia, or public practice; constituted a substantial part of
56 the applicant’s duties; and was verified by under the
57 supervision of a certified public accountant licensed by a state
58 or territory of the United States. The board shall adopt rules
59 specifying standards and providing for the review and approval
60 of the work experience required by this section.
61 (b) However, an applicant who completed the requirements of
62 subsection (3) on or before December 31, 2008, and who passes
63 the licensure examination on or before June 30, 2010, is exempt
64 from the requirements of this subsection.
65 (7) The board shall certify as qualified for a license by
66 endorsement an applicant who:
67 (a)1. Is not licensed and has not been licensed in another
68 state or territory and who has met the requirements of this
69 section for education, work experience, and good moral character
70 and has passed a national, regional, state, or territorial
71 licensing examination that is substantially equivalent to the
72 examination required by s. 473.306; and
73 2. Has completed such continuing education courses as the
74 board deems appropriate, within the limits for each applicable
75 2-year period as set forth in s. 473.312, but at least such
76 courses as are equivalent to the continuing education
77 requirements for a Florida certified public accountant licensed
78 in this state during the 2 years immediately preceding her or
79 his application for licensure by endorsement; or
80 (b)1.a. Holds a valid license to practice public accounting
81 issued by another state or territory of the United States, if
82 the criteria for issuance of such license were substantially
83 equivalent to the licensure criteria that existed in this state
84 at the time the license was issued; or
85 b. Holds a valid license to practice public accounting
86 issued by another state or territory of the United States but
87 the criteria for issuance of such license did not meet the
88 requirements of sub-subparagraph a.; has met the requirements of
89 this section for education, work experience, and good moral
90 character; and has passed a national, regional, state, or
91 territorial licensing examination that is substantially
92 equivalent to the examination required by s. 473.306; or and
93 c. Holds a valid license to practice public accounting
94 issued by another state or territory of the United States; has
95 passed a national, regional, state, or territorial licensing
96 examination that is substantially equivalent to the examination
97 required by s. 473.306 at least 10 years before the date of
98 application; and has met the requirements of this section for
99 good moral character; and
100 2. Has completed continuing education courses that are
101 equivalent to the continuing education requirements for a
102 Florida certified public accountant licensed in this state
103 during the 2 years immediately preceding her or his application
104 for licensure by endorsement.
105 Section 3. Section 473.311, Florida Statutes, is amended to
106 read:
107 473.311 Renewal of license.—
108 (1) The department shall renew a license issued under s.
109 473.308 upon receipt of the renewal application and fee and upon
110 certification by the board that the Florida certified public
111 accountant has satisfactorily completed the continuing education
112 requirements of s. 473.312.
113 (2) Effective January 1, 2015, the department shall renew a
114 license issued under s. 473.3101 upon certification by the board
115 that the sole proprietor, partnership, corporation, limited
116 liability company, or other firm engaged in the practice of
117 public accounting, as defined in s. 473.302(8)(a), is enrolled
118 in a peer review program.
119 (3)(2) The department shall adopt rules establishing a
120 procedure for the biennial renewal of licenses issued under ss.
121 473.308 and 473.3101.
122 Section 4. Section 473.3125, Florida Statutes, is created
123 to read:
124 473.3125 Peer review.—
125 (1) As used in this section, the term:
126 (a) “Licensee” means a sole proprietor, partnership,
127 corporation, limited liability company, or any other firm
128 engaged in the practice of public accounting, as defined in s.
129 473.302(8)(a), which is required to be licensed under s.
130 473.3101.
131 (b) “Peer review” means the study, appraisal, or review by
132 one or more independent certified public accountants of one or
133 more aspects of the professional work of a licensee.
134 (2) The board shall adopt rules establishing minimum
135 standards for peer review programs, including, but not limited
136 to, standards for administering, performing, and reporting peer
137 reviews. The board shall also adopt rules establishing minimum
138 criteria for the board’s approval of one or more peer review
139 administering organizations to facilitate and administer peer
140 review programs.
141 (3) For the purposes of maintaining oversight of a firm’s
142 licensure renewal requirements in s. 473.311(2), the board may
143 establish a peer review oversight committee that is composed of
144 no fewer than three and no more than five members who are
145 licensed under this chapter and whose firm is subject to s.
146 473.311(2) and has received a review rating of “pass” on the
147 most recent peer review.
148 Section 5. Section 473.313, Florida Statutes, is amended to
149 read:
150 473.313 Inactive status.—
151 (1) A Florida certified public accountant may request that
152 her or his license be placed in an inactive status by making
153 application to the department. The board may prescribe by rule
154 fees for placing a license on inactive status, renewal of
155 inactive status, and reactivation of an inactive license.
156 (2) A license that has become inactive for failure of the
157 licensee to complete the requirements in s. 473.312 may be
158 reactivated under s. 473.311 upon application to the department.
159 The board may prescribe by rule continuing education
160 requirements as a condition of reactivating a license. The
161 minimum continuing education requirements for reactivating a
162 license shall be those prescribed by board rule and those of the
163 most recent biennium plus one-half of the requirements in s.
164 473.312. Notwithstanding any other provision of this section,
165 the continuing education requirements are 120 hours, including
166 at least 30 hours in accounting-related and auditing-related
167 subjects, not more than 30 hours in behavioral subjects, and a
168 minimum of 8 hours in ethics subjects approved by the board, for
169 the reactivation of a license that is inactive on June 30, 2012
170 2009, if the Florida certified public accountant notifies the
171 Board of Accountancy by December 31, 2012 2009, of an intention
172 to reactivate such a license and completes such reactivation by
173 June 30, 2014 2011.
174 (3) A license that has become inactive for failure of the
175 licensee to report completion of the requirements in s. 473.312
176 may be reactivated under s. 473.311 upon application to the
177 department. In order to reactive the license, the licensee
178 shall:
179 (a) Pay an application fee as determined by the board;
180 (b) Submit proof of certification by the Florida certified
181 public accountant that the licensee satisfactorily completed the
182 continuing education requirements set forth under s. 473.311;
183 and
184 (c) Submit a completed application to the board by March 15
185 immediately following the inactive period.
186 (4)(3) Any Florida certified public accountant holding an
187 inactive license may be permitted to reactivate such license in
188 a conditional manner. The conditions of reactivation shall
189 require the payment of fees and the completion of required
190 continuing education.
191 (5)(4) Notwithstanding the provisions of s. 455.271, the
192 board may, at its discretion, reinstate the license of an
193 individual whose license has become null and void if the
194 individual has made a good faith effort to comply with this
195 section but has failed to comply because of illness or unusual
196 hardship. The individual shall apply to the board for
197 reinstatement in a manner prescribed by rules of the board and
198 shall pay an application fee in an amount determined by rule of
199 the board. The board shall require that the individual meet all
200 continuing education requirements as provided in subsection (2),
201 pay appropriate licensing fees, and otherwise be eligible for
202 renewal of licensure under this chapter.
203 Section 6. This act shall take effect July 1, 2012.