STAND. COM. REP. NO. 1206-20

Honolulu, Hawaii

, 2020

RE: S.B. No. 2881

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2020

State of Hawaii

Sir:

Your Committee on Consumer Protection & Commerce, to which was referred S.B. No. 2881 entitled:

"A BILL FOR AN ACT RELATING TO THE PEER REVIEW OVERSIGHT COMMITTEE,"

begs leave to report as follows:

The purpose of this measure is to clarify the criteria used by the Board of Public Accountancy (Board) in selecting members to serve on the Board's Peer Review Oversight Committee.

Your Committee received testimony in support of this measure from the Board of Public Accountancy.

Your Committee finds that the accountancy profession's standards of review change frequently. With recent changes, the duties of the Board's Peer Review Oversight Committee are expected to substantially increase. Your Committee further finds that it is necessary for the Board to have flexibility and discretion in selecting members who have the ability and aptitude to serve on its Peer Review Oversight Committee.

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 S.B. No. 2881 and recommends that it pass Second Reading and be referred to your Committee on Finance.

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

____________________________

ROY M. TAKUMI, Chair