Title 25, Professions And Occupations

§466-12 Ownership of accountant's working papers. All statements, records, schedules, working papers, and memoranda made by the licensee, partner, shareholder, officer, director, or employee incidental to, or in the course of rendering services to a client in the practice of publ…

§466-15 Advisory committees. (a) The director may establish advisory committees, the members of which shall serve as consultants to the board in their review of certified public accountants and public accountants referred for possible disciplinary action, and as experts to the de…

§466-17 Construction; severability. If any provision of this chapter or the application thereof to any person or entity or in any circumstance is held invalid, the remainder of the chapter and the application of such provision to others or in other circumstances shall not be affe…

§466-2 Short title. This chapter may be cited as the Public Accountancy Law of 1973. [L 1973, c 158, pt of §2]

§466-3 Definitions. When used in this chapter, the following terms have the meanings indicated: "Attest" means providing the following financial statement services: "Board" means the state board of public accountancy established under section 466-4. "Certified public accountant" …

[Part II.] PEER REVIEW PROCESS [§466-31] Definitions. As used in this part, unless the context clearly indicates otherwise: "Rating" means the type of report issued following a peer review. Rating shall be "pass", "pass with deficiency", or "fail". "Sponsoring organization" means…

[§466-32] Establishment of peer review process; confidentiality. (a) There is established a peer review process to review the attest work of firms. The peer review process shall be for educational or remedial and not punitive purposes. (b) The peer review process shall keep confi…

[§466-33] Standards for peer reviews and sponsoring organizations. (a) Except as otherwise provided by section 466-36, the board shall adopt the Standards for Performing and Reporting on Peer Reviews and any applicable ethical requirements adopted by the American Institute of Cer…

[§466-34] Enrollment and participation. (a) Every firm, including the Hawaii offices and Hawaii engagements of foreign or multistate firms, that is required to obtain a firm permit to practice pursuant to section 466-7 shall undergo a peer review every three years. The firm's Haw…

§466-35 Peer review compliance reporting form. (a) Upon the completion of a peer review, each reviewed firm shall submit a peer review compliance reporting form to the board pursuant to section 466-38. The peer review compliance reporting form shall include the following: (b) A f…

§466-36 Hawaii supplement to the peer review report. (a) A firm required to undergo a peer review under this chapter shall engage the services of a practitioner or firm holding a permit issued under section 466-7 to perform the following procedures to supplement the peer review r…

[§466-37] Retention of documents. (a) Each reviewer shall maintain all documentation necessary to establish that each review conforms to the review standards of the relevant review program, including the review working papers, copies of the review report, and any correspondence i…

§466-38 Reporting to the board. (a) A firm shall submit to the board: (b) For peer reviews scheduled after December 31, 2014, any report or document required to be submitted under subsection (a) shall be filed with the board as follows: (c) Any report or document submitted to the…

§466-39 Appeals. (a) A firm shall have thirty calendar days after the filing of the peer review compliance reporting form to appeal a "pass with deficiency" or a "fail" rating that may result in the denial, termination, or nonrenewal of a permit to practice. (b) A firm may also a…

§466-4 Board of public accountancy. (a) There shall be a board of public accountancy to be known as the state board of public accountancy, which shall consist of nine members. All members of the board shall be citizens of the United States and residents of this State. Seven membe…

[§466-40] Procedures for sponsoring organization. (a) To qualify as a sponsoring organization, a third-party entity shall submit a peer review administration plan to the board for review and approval. The peer review administration plan shall: (b) A sponsoring organization: (c) T…

[§466-41] Oversight of sponsoring organizations. (a) The board shall retain oversight of sponsoring organizations through the peer review oversight committee described in section 466-42. (b) The board shall periodically publish a list of sponsoring organizations that have been ap…

§466-42 Peer review oversight committee. (a) The board shall establish a peer review oversight committee for the purpose of: (b) Except to the extent otherwise required under this section and section 466-41(b), information concerning a specific firm or reviewer obtained by the pe…

[§466-43] Oversight of peer reviewers for a Hawaii supplemental peer review. (a) A peer reviewer for a Hawaii supplement to the peer review report under section 466-36 shall be a person who: (b) The board shall retain oversight of the peer reviewers for a Hawaii supplement to the…

§466-5 License of certified public accountant. (a) A license and a permit are required to practice public accountancy. The board may license and grant the designation of "certified public accountant" to any person who has met the following: (b) The educational requirement for a l…

§466-6 License of public accountant. (a) A license and a permit are required to actively practice public accountancy. A person: (b) Licenses shall be effective for a period not exceeding two years and shall be renewable biennially on or before December 31 of every odd-numbered ye…

§466-7 Permits to practice. (a) A license and permit are required to actively engage in the practice of public accountancy. The board may grant or renew a permit to actively engage in the practice of public accountancy. Permits shall be initially issued and renewed for periods of…

§466-8 Fees. (a) An application for admission to the examination described in section 466-5(e) shall be accompanied by the application and examination fees. The board may prescribe by rule the terms and conditions upon which an applicant who is unable to attend the examination ma…

§466-9 Disciplinary action. (a) In addition to any other actions or conditions authorized by law, in accordance with chapter 91, the board may take any one or more of the following actions: (b) In addition to any other grounds for disciplinary action authorized by law, any one or…