Alabama Administrative Code › Title 30 - ALABAMA STATE BOARD OF PUBLIC ACCOUNTANCY › Chapter 30-X-1 - DEFINITIONS › Section 30-X-1-.01 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
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 including, but not limited to,
			 kinds of services involving the use of accounting or auditing skills, including
			 issuance of reports on financial statements or of one or more kinds of
			 management advisory, financial advisory or consulting services, or the
			 preparation of tax returns or the furnishing of advice on tax matters;
			 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).