STAND. COM. REP. NO.  104

Honolulu, Hawaii

                , 2017

RE:   H.B. No. 337

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2017

State of Hawaii

Sir:

     Your Committee on Intrastate Commerce, to which was referred H.B. No. 337 entitled:

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

begs leave to report as follows:

The purpose of this measure is to clarify the standards that govern the performance and reporting of peer reviews, which are a required condition of continued licensure for public accountancy firms.

Specifically, this measure deletes the specific reference to AT section 201 of the Statements on Standards for Attestation Engagements adopted by the American Institute of Certified Public Accountants.

The Board of Public Accountancy supported this measure.

     As affirmed by the record of votes of the members of your Committee on Intrastate Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 337 and recommends that it pass Second Reading and be referred to your Committee on Consumer Protection & Commerce.

Respectfully submitted on behalf of the members of the Committee on Intrastate Commerce,

____________________________

TAKASHI OHNO, Chair