Florida Senate - 2015                                     SB 636
       By Senator Latvala
       20-01186-15                                            2015636__
    1                        A bill to be entitled                      
    2         An act relating to public accountancy; amending s.
    3         473.302, F.S.; revising the definition of the term
    4         “licensed audit firm”; amending s. 473.3101, F.S.;
    5         revising which firms are required to hold a public
    6         accounting license; amending s. 473.316, F.S.;
    7         revising the definition of the term “quality review”
    8         to include a peer review; providing an effective date.
   10  Be It Enacted by the Legislature of the State of Florida:
   12         Section 1. Subsection (7) of section 473.302, Florida
   13  Statutes, is amended to read:
   14         473.302 Definitions.—As used in this chapter, the term:
   15         (7) “Licensed audit firm” or “public accounting firm” means
   16  a firm licensed under s. 473.3101 that performs services
   17  described in paragraph (8)(a).
   19  However, these terms shall not include services provided by the
   20  American Institute of Certified Public Accountants or the
   21  Florida Institute of Certified Public Accountants, or any full
   22  service association of certified public accounting firms whose
   23  plans of administration have been approved by the board, to
   24  their members or services performed by these entities in
   25  reviewing the services provided to the public by members of
   26  these entities.
   27         Section 2. Paragraph (a) of subsection (1) of section
   28  473.3101, Florida Statutes, is amended to read:
   29         473.3101 Licensure of sole proprietors, partnerships,
   30  corporations, limited liability companies, and other legal
   31  entities.—
   32         (1) Each sole proprietor, partnership, corporation, limited
   33  liability company, or any other firm seeking to engage in the
   34  practice of public accounting, as defined in s. 473.302(8)(a),
   35  in this state must file an application for licensure with the
   36  department and supply the information the board requires. An
   37  application must be made upon the affidavit of a sole
   38  proprietor, general partner, shareholder, or member who is a
   39  certified public accountant.
   40         (a) The following must hold a license issued under this
   41  section:
   42         1. Any firm with an office in this state which uses the
   43  title “CPA,” “CPA firm,” or any other title, designation, words,
   44  letters, abbreviations, or device tending to indicate that the
   45  firm practices public accounting services described in s.
   46  473.302(8)(a).
   47         2. Any firm that does not have an office in this state but
   48  performs the services described in s. 473.3141(4) for a client
   49  having its home office in this state. The board shall define by
   50  rule what constitutes an office.
   51         Section 3. Paragraph (d) of subsection (1) of section
   52  473.316, Florida Statutes, is amended to read:
   53         473.316 Communications between the accountant and client
   54  privileged.—
   55         (1) For purposes of this section:
   56         (d) A “quality review” is a study, appraisal, or review of
   57  one or more aspects of the professional work of an accountant in
   58  the practice of public accountancy which is conducted by a
   59  professional organization for the purpose of evaluating quality
   60  assurance required by professional standards, including a
   61  quality assurance or peer review. The term includes a peer
   62  review as defined in s. 473.3125.
   63         Section 4. This act shall take effect July 1, 2015.