Bill Text: HI HB2325 | 2020 | Regular Session | Amended
Bill Title: Relating To The Peer Review Oversight Committee.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-02-13 - Report adopted; referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Eli, Har excused (2). [HB2325 Detail]
Download: Hawaii-2020-HB2325-Amended.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2325 |
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THIRTIETH LEGISLATURE, 2020 |
H.D. 1 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO THE PEER REVIEW OVERSIGHT COMMITTEE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION
1. Section 466-42, Hawaii Revised
Statutes, is amended by amending subsection (c) to read as follows:
"(c) [Effective January 1, 2013, the] The
peer review oversight committee shall consist of three individuals approved
by the board who hold permits to practice under section 466-7[.] and
who are currently in the practice of public accountancy at the partner or
equivalent level. No member of the
peer review oversight committee shall be a current member of the board, the
Hawaii Society of Certified Public Accountants Peer Review or Professional
Ethics Committees, or the American Institute of Certified Public Accountants
Professional Ethics Executive Committee.
[The members shall have significant experience with attest
engagements and currently be in the practice of public accountancy at the
partner or equivalent level. The
member's firm shall have received a report with a rating of pass or an
unmodified opinion from its last peer review.] In selecting committee members, the board
shall consider, among other things, the prospective member's experience with
attest engagements and the peer review rating of the prospective member's firm."
SECTION
2. Statutory material to be repealed is
bracketed and stricken. New statutory
material is underscored.
SECTION 3. This Act shall take effect on July 1, 2050.
Report Title:
Accountant; Peer Review Oversight Committee; Members
Description:
Clarifies the role of the Board of Public Accountancy in selecting members to serve on the Board's Peer Review Oversight Committee. Takes effect 7/1/2050. (HD1)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
