Florida Senate - 2013 SB 328
By Senator Latvala
1 A bill to be entitled
2 An act relating to public accountancy; amending s.
3 473.3065, F.S.; revising provisions for the
4 distribution of scholarships under the Certified
5 Public Accountant Education Minority Assistance
6 Program; revising the annual maximum expenditures and
7 frequency of distribution of moneys for the
8 scholarships; amending s. 473.311, F.S.; providing a
9 peer review requirement for the license renewal of
10 certain firms engaged in the practice of public
11 accounting; creating s. 473.3125, F.S.; providing
12 definitions; requiring the Board of Accountancy to
13 adopt rules for peer review programs; authorizing the
14 board to establish a peer review oversight committee;
15 providing an effective date.
17 Be It Enacted by the Legislature of the State of Florida:
19 Section 1. Subsection (2) of section 473.3065, Florida
20 Statutes, is amended to read:
21 473.3065 Certified Public Accountant Education Minority
22 Assistance Program; advisory council.—
23 (2) All moneys used to provide scholarships under the
24 program shall be funded by a portion of existing license fees,
25 as set by the board, not to exceed $10 per license. Such moneys
26 shall be deposited into the Professional Regulation Trust Fund
27 in a separate account maintained for that purpose. The
28 department may
is authorized to spend up to $200,000 $100,000
29 per year for the program from this program account , but may not
30 allocate overhead charges to it. Moneys for scholarships shall
31 be disbursed twice per year annually upon recommendation of the
32 advisory council and approval by the board, based on the adopted
33 eligibility criteria and comparative evaluation of all
34 applicants. Funds in the program account may be invested by the
35 Chief Financial Officer under the same limitations as apply to
36 investment of other state funds, and all interest earned thereon
37 shall be credited to the program account.
38 Section 2. Section 473.311, Florida Statutes, is amended to
40 473.311 Renewal of license.—
41 (1) The department shall renew a license issued under s.
42 473.308 upon receipt of the renewal application and fee and upon
43 certification by the board that the Florida certified public
44 accountant has satisfactorily completed the continuing education
45 requirements of s. 473.312.
46 (2) Effective January 1, 2015, the department shall renew a
47 license issued under s. 473.3101 upon certification by the board
48 that the sole proprietor, partnership, corporation, limited
49 liability company, or other firm engaged in the practice of
50 public accounting as defined in s. 473.302(8)(a) is enrolled in
51 a peer review program.
52 (3) (2) The department shall adopt rules establishing a
53 procedure for the biennial renewal of licenses issued pursuant
54 to this section.
55 Section 3. Section 473.3125, Florida Statutes, is created
56 to read:
57 473.3125 Peer review.—
58 (1) As used in this section, the term:
59 (a) “Licensee” means a sole proprietor, partnership,
60 corporation, limited liability company, or any other firm
61 engaged in the practice of public accounting as defined in s.
62 473.302(8)(a) that is required to be licensed under s. 473.3101.
63 (b) “Peer review” means the study, appraisal, or review by
64 one or more independent certified public accountants of one or
65 more aspects of the professional work of a licensee.
66 (2) The board shall adopt rules establishing minimum
67 standards for peer review programs, including, but not limited
68 to, standards for administering, performing, and reporting peer
69 reviews. The board shall also adopt rules establishing minimum
70 criteria for the board’s approval of one or more organizations
71 that facilitate and administer peer review programs.
72 (3) For the purposes of maintaining oversight of the
73 license renewal requirements of s. 473.311(2), the board may
74 establish a peer review oversight committee, which shall be
75 composed of at least three, but no more than five, members who
76 are licensed under this chapter and whose firms are subject to
77 s. 473.311(2) and have received a review rating of “pass” on the
78 most recent peer review.
79 Section 4. This act shall take effect July 1, 2013.