2005 Idaho Code - 54-221 — ISSUANCE OF A REPORT

                                  TITLE  54
                    PROFESSIONS, VOCATIONS, AND BUSINESSES
                                  CHAPTER 2
                                 ACCOUNTANTS
    54-221.  ISSUANCE OF A REPORT. (1) Only licensees shall issue a report on
the financial statements of any other person, firm, organization or
governmental unit or offer to render or render any attest or compilation
service, as defined herein. This prohibition does not apply to any officer,
partner, employee or member of any organization affixing their signature to
any statement or report in reference to the financial affairs of such firm or
organization with any wording designating the position, title or office that
they hold therein; nor prohibit any act of a public official or employee in
the performance of their duties as such; nor prohibit the performance by any
person of other services involving the use of accounting skills, including the
preparation of tax returns, management, financial advisory or consulting
services, and the preparation of financial statements without the issuance of
reports, as defined in section 54-206, Idaho Code.
    (2)  The prohibition contained in subsection (1) of this section is
applicable to issuance, by a person or firm not holding a valid license, of a
report using any form of language conventionally used by licensees respecting
a review of financial statements or respecting a compilation of financial
statements.
    (3)  No licensee or individual granted privileges under section 54-227,
Idaho Code, shall perform attest services through any form of business that is
not registered under the provisions of section 54-214, Idaho Code, or an
equivalent provision of the laws of another state.
    (4)  No licensee shall issue a compilation report through any form of
business that is not registered under the provisions of section 54-214, Idaho
Code, unless the report discloses the name of the business through which the
individual is issuing the report, and the individual:
    (a)  Signs the compilation report identifying the individual as a CPA or
    LPA;
    (b)  Meets the competency requirements provided in this chapter and by
    board rule; and
    (c)  Undergoes no less frequently than once every three (3) years, a peer
    review conducted in such manner as the board shall by rule specify, and
    such review shall include verification that such individual has met the
    competency requirements set out in professional standards for such
    services.
    (5)  A licensee or firm that does not issue reports may issue financial
statements without reports only if the financial statements include the
disclaimer language of section 54-226(3), Idaho Code.