1. (1) The Board shall appoint a peer review oversight committee (PROC) to oversee and monitor implementation of the peer review requirement set forth in Section 473.3125, F.S. and the licensee renewal requirements of Section 473.311(2), F.S.

2. (2) The PROC shall consist of three members, appointed for a term of service of no less than three years and no more than five years. Board appointment shall be based upon the review of applications of those who possess the following qualifications:

   1. (a) Current licensure in good standing as a Florida certified public accountant; and
   2. (b) Extensive auditing experience as part of a firm or practice unit that has undergone a peer review and received a review rating of pass on the most recent review.

3. (3) PROC members may not:

   1. (a) Be a current member of the Board;
   2. (b) Be an employee of the department or AE;
   3. (c) Be a voting member of the AE’s governing board; or
   4. (d) Perform any enforcement related work for the board/department during their term on the PROC.

4. (4) Responsibilities of the PROC shall include:

   1. (a) Recommending to the Board the approval or termination of peer review administering entities, peer review programs and peer review standards;
   2. (b) Monitoring and assessing the effectiveness of the peer review programs and peer review standards; and,

   3. (c) Providing a written report to the Board no later than December 1, 2016, and annually thereafter, which includes:

      1. A message from the PROC Chair;

      2. A summary of the background and PROC responsibilities;

      3. A list of PROC members;

      4. A list of Board-approved AEs;

      5. A summary of PROC activities and accomplishments during the prior year;

      6. A chart of the number of Firms that were enrolled at the beginning of the year and at the end of the year with accompanying notes regarding newly enrolled or terminated Firms; and,

      7. Findings and concluding recommendations regarding the adequacy of Florida’s Peer Review Program and any suggested changes to Florida Statutes and the Florida Administrative Code.

Rulemaking Authority 473.3125, 473.304 FS. Law Implemented 473.3125(3) FS. History‒New 5-4-14, Amended 3-1-16.