Ala. Admin. Code r. 30-X-1-.01 - Definitions
For the purposes of these regulations the following definitions shall apply:
(a)
Board
. The term Board means the Alabama State Board of
Public Accountancy, a public authority created by Section 2 of the Public
Accountancy Act of 1973.
(b)
State
. The term state includes any state , territory,
or insular possession of the United States or the District of Columbia. The
term State means the State of Alabama.
(c)
Certified Public
Accountant
. A Certified Public Accountant or CPA is a person
holding a Certified Public Accountant certificate issued under the laws of the
State of Alabama or the accountancy act of another state .
(d)
Public
Accountant
. A Public Accountant is a person holding a permit to
practice under the Public Accountancy Act of 1973.
(e)
Opinions on Financial
Statements
. Opinions on financial statements are any reports based
on examinations in accordance with generally accepted auditing standards as to
whether the presentation of information used for guidance in financial
transactions or for accounting for or assessing the status or performance of
commercial and noncommercial enterprises, whether public, private, or
governmental, is in conformity with generally accepted principles or other
comprehensive basis of accounting.
(f)
Practice of Public
Accounting
. The practice of Public Accounting or the practice of
Public Accountancy is:
1. Performing services
as one skilled in the knowledge and practice of Public Accounting ; or
2. Providing Attest services as defined by
the following services:
(i) Any audit or other
engagement to be performed in accordance with the Statements on Auditing
Standards (SAS).
(ii) Any review of
a financial statement to be performed in accordance with the Statements on
Standards for Accounting and Review Services (SSARS).
(iii) Any engagement to be performed in
accordance with the Statements on Standards for Attestation Engagements
(SSAE).
(iv) Any engagement to be
performed in accordance with the auditing standards of the Public Company
Accounting Oversight Board (PCAOB).
(v) The statements on standards specified in
this definition shall be adopted by reference by the board pursuant to rule
making and shall be those developed for general application by recognized
national accountancy organizations such as the AICPA and PCAOB.; or
3. Providing a service of any
compilation engagement performed in accordance with Statements on Standards for
Accounting and Review Services (SSARS); or
4. Providing a service of any preparation of
financial statements engagement performed in accordance with Statements on
Standards for Accounting and Review Services (SSARS).
(g)
Report
. A report
is a brief description based on the accountant's professional judgement
conveying the nature and extent of services performed and the degree of
responsibility assumed for the client's representations contained in the
related financial statements.
(h)
Good Moral Character
. Prima facie evidence of a lack
of good moral character includes, but is not limited to: any deferred
prosecution agreement involving an admission of wrongdoing, or any criminal
conviction, including conviction following a guilty plea or plea nolo
contendre, for any felony or any crime, an essential element of which is fraud,
dishonesty, deceit, or any other crime which evidences an unfitness of the
applicant to practice public accountancy in a competent manner consistent with
public protection.
(i) Masculine
terms shall also include feminine.
(j) Singular terms shall also include the
plural.
Notes
Author: Alabama
Statutory Authority: Code of Ala. 1975, ยง 34-1-3.
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