2005 Idaho Code - 54-206 — DEFINITIONS

                                  TITLE  54
                    PROFESSIONS, VOCATIONS, AND BUSINESSES
                                  CHAPTER 2
                                 ACCOUNTANTS
    54-206.  DEFINITIONS. As used in this section:
    (1)  "AICPA" means the American institute of certified public accountants.
    (2)  "Applicant" means any person having the requisite qualifications who
makes application to the board for examination, or for initial issuance or
renewal or reinstatement of a license under the provisions of this chapter.
    (3)  "Attest" means providing the following financial statement services:
    (a)  Any audit or other engagement to be performed in accordance with the
    statements on auditing standards;
    (b)  Any review of a financial statement to be performed in accordance
    with the statements on standards for accounting and review services; and
    (c)  Any examination of prospective financial information to be performed
    in accordance with the statements on standards for attestation
    engagements.
    (4)  "Board" means the Idaho state board of accountancy.
    (5)  "Certificate" means that document issued by the board upon original
approval of licensure. The original certificate does not constitute licensure
and a person cannot represent himself or herself as a licensee unless a
current and valid annual license has been issued by the board.
    (6)  "Certified public accountant" means any person who holds a valid,
unrevoked and unsuspended license under the provisions of chapter 2, title 54,
Idaho Code, or an equivalent provision of the laws of another state
designating said person as a certified public accountant.
    (7)  "Client" means the person or entity that agrees with a licensee or
licensee's  employer to receive any professional services with or without
compensation and shall include all affiliates and related entities in the
financial statements of an attest or compilation engagement.
    (8)  "Compilation" means a service performed in accordance with statements
on standards for accounting and review services which presents, in the form of
historical or prospective financial statements, information that is the
representation of management or owners without undertaking to express any
assurance on the statements. The term "compilation" does not include financial
statements accompanied by the language set forth in section 54-226(3), Idaho
Code, (whether used by a licensee or by a person not licensed under this
chapter) so long as the financial statements are not accompanied by any other
language of assurance or disclaimer.
    (9)  "Financial statements" means a presentation of historical or
prospective financial data, which may include accompanying notes, intended to
communicate an entity's economic resources or obligations at a point in time,
or the changes therein for a period of time, in accordance with a
comprehensive basis of accounting.
    (10) "Firm" means a proprietorship, partnership, professional corporation,
professional limited liability company, or any other form of professional
organization permitted by Idaho law, registered under the requirements of
section 54-214, Idaho Code.
    (11) "Good moral character" means lack of a history of dishonest dealings
or a felonious act.
    (12) "License" means that authorization issued by the board upon original
approval and on an annual basis permitting a qualified person to practice as a
certified public accountant or licensed public accountant in the state of
Idaho.
    (13) "Licensed public accountant" or "LPA" means any person who holds a
valid, unrevoked and unsuspended license under the provisions of chapter 2,
title 54, Idaho Code, designating said person as a licensed public accountant.
    (14) "Licensee" means the holder of a current valid license.
    (15) "Member" means a person who has been admitted to membership in a firm
which is organized as a limited liability company.
    (16) "Peer review" means a board approved study, appraisal or review of
one (1) or more aspects of the professional work of a licensee or firm that
performs attest services or issues compilation reports, by a person or persons
licensed under this chapter or by another state and who are independent of the
licensee or firm being reviewed.
    (17) "Permit" means a permit to practice as a firm issued under
corresponding provisions of the laws of other states.
    (18) "Person" means any natural living person.
    (19) "Professional services" means services arising out of or related to
the specialized knowledge or skills associated with certified public
accountants or licensed public accountants.
    (20) "Report," when used with reference to financial statements, means an
opinion or other form of language that states or implies assurance as to the
reliability of any financial statements and that also includes or is
accompanied by any statement or implication that the person or firm issuing it
has special knowledge or competence in accounting or auditing. Such a
statement or implication of special knowledge or competence may arise from use
by the issuer of the report of names or titles indicating that the person or
firm is an accountant or auditor, or from the language of the report itself.
The term "report" includes any form of language which disclaims an opinion
when such form of language is conventionally understood to imply any positive
assurance as to the reliability of the financial statements referred  to or
special competence on the part of the person or firm issuing such language;
and it includes any other form of language that is conventionally understood
to imply such assurance or special knowledge or competence.
    (21) "State" means any state of the United States, the District of
Columbia, Puerto Rico, the U.S. Virgin Islands and Guam; except that "this
state" means the state of Idaho.
    (22) "Substantial equivalency" or "substantially equivalent" means a
determination by the board 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 for CPAs contained in this chapter or that an
individual licensee's education, examination and experience qualifications are
comparable to or exceed the education, examination and experience requirements
for CPAs contained in this chapter.