CS/HB 987 Summary

• Updates the definition of "Uniform Accountancy Act" in Florida law from the Fourth Edition (December 2007) to the Seventh Edition (May 2014), as published by the American Institute of Certified Public Accountants and the National Association of State Boards of Accountancy.

• Exempts certain out-of-state accounting firms from Florida licensure requirements if they comply with specific qualifications, including enrollment in peer review programs and performing services through individuals with practice privileges.

• Revises the definition of "client" in accountant-client privilege laws to clarify that a client is any entity that agrees with an accountant to receive professional services.

• Makes suspension or revocation of practice rights before the Public Company Accounting Oversight Board grounds for disciplinary action by the state accounting board.

• Effective date: July 1, 2017.