STAND. COM. REP. NO.  557-12

Honolulu, Hawaii

                , 2012

RE:   H.B. No. 2169

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

Sir:

     Your Committee on Consumer Protection & Commerce, to which was referred H.B. No. 2169, H.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO PUBLIC ACCOUNTANCY,"

begs leave to report as follows:

The purpose of this measure is to establish a peer review process for public accountancy firms that engage in attest work.

MC Group Hawaii, Inc.; Deborah Daniells & Associates, CPAs, Inc.; and four individuals testified in support of this measure.  The Board of Public Accountancy testified in opposition to this measure.  CW Associates, CPAs; Hawaii Society of Certified Public Accountants; and one individual provided comments.

     As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2169, H.D. 1, and recommends that it be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

____________________________

ROBERT N. HERKES, Chair