There is a newer version of the South Dakota Codified Laws
2006 South Dakota Code - 36-20B-1 — Definitions.
36-20B-1. Definitions. Terms as used in this chapter mean:
(1) "Board," the South Dakota Board of
Accountancy established pursuant to this chapter or its
predecessor;
(2) "Certificate," a certificate as a
certified public accountant issued pursuant to this chapter or
corresponding provisions of prior law, or a corresponding
certificate as certified public accountant issued after examination
under the law of any other state;
(3) "Client," a person or entity that
agrees with a licensee to receive any professional service other
than an employer-employee relationship;
(4) "CPA firm" and "PA firm," a sole
proprietorship, a corporation, a partnership, or any other form of
organization permitted by law issued a permit under this
chapter;
(5) "Compilation," providing a service to
be performed in accordance with Statements on Standards for
Accounting and Review Services (SSARS) that is presenting in the
form of financial statements, information that is the
representation of management (owners) without undertaking to
express any assurance on the statements;
(6) "Domestic," referring to a
jurisdiction of a state;
(7) "Foreign," referring to a jurisdiction
outside of the United States;
(8) "License," a certificate issued
pursuant to this chapter, a permit issued pursuant to this chapter,
or a registration pursuant to this chapter; or in each case, a
certificate, license, or permit issued under corresponding
provisions of prior law;
(9) "Licensee," the holder of a
certificate issued pursuant to this chapter or of a license issued
under prior law, or of a permit issued pursuant to this chapter; or
in each case, a certificate, license, or permit issued under
corresponding provisions of prior law;
(10) "Manager," manager of a limited
liability company;
(11) "Member," a member of a limited
liability company;
(12) "Peer review," a study, appraisal, or
review of one or more aspects of the professional work of a
certificate holder or CPA firm that performs attest or compilation
services, by a qualified person or persons who hold certificates
and who are not affiliated with the certificate holder or CPA firm
being reviewed;
(13) "Permit," a permit to practice public
accountancy issued to a firm pursuant to this chapter or
corresponding provisions of prior law or under corresponding
provisions of the laws of other states;
(14) "Professional," arising out of or
related to the specialized knowledge or skills associated with CPAs
or PAs;
(15) "Public accountant," a person holding
a public accountant license issued pursuant to provisions of prior
law;
(16) "State," any state of the United
States, the District of Columbia, Puerto Rico, the U.S. Virgin
Islands, and Guam;
(17) "Substantial equivalency," a
determination by the board or its designee that the education,
examination, and experience requirements contained in the statutes
and administrative rules of another jurisdiction are comparable to,
or exceed the education, examination, and experience requirements
contained in this chapter or that an individual CPA's education,
examination, and experience qualifications are comparable to or
exceed the education, examination, and experience requirements
contained in this chapter.
Source: SL 2002, ch 179, § 2.
Source: SL 2002, ch 179, § 2.
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