FL H0413

Authorizes the Board of Accountancy to establish a peer review oversight committee composed of up to five Florida CPAs who have passed peer reviews, with members serving terms not exceeding 3 years without compensation.

Requires firms engaged in public accounting to enroll in board-approved peer review programs and undergo complete peer reviews at least once every 3 years, effective January 1, 2015, with exceptions for firms licensed less than 18 months or not engaged in specified accounting practices.

Firms receiving "fail" ratings on two consecutive peer reviews must submit requested documentation to the board; the board shall establish minimum standards for peer review programs and approve peer review administering organizations.

Grants civil immunity to CPAs and personnel performing peer review administrative services and makes peer review proceedings, records, and workpapers confidential and privileged, with limited exceptions.

Adds new disciplinary grounds for firms failing to enroll in peer review programs or engaging in material noncooperation with peer review organizations, with penalties up to $5,000 per count, and clarifies license reissuance procedures upon compliance with disciplinary orders.