All references to the law or the acts are to Act No. 997 Alabama Law, Regular Session, 1973, known as the "Public Accountancy Act of 1973."

30-X-l-.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 the states of the United States, the District of Columbia, Puerto Rico, Guam, and the U.S. Virgin Islands. 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. Auditing or examining financial statements and issuing a report expressing or disclaiming an opinion on such statements; or

3. Reviewing financial statements and issuing a report expressing assurance on such statements.

(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) Masculine terms shall also include feminine.

(i) Singular terms shall also include the plural.

Author: Alabama Board of Public Accountancy

Statutory Authority: Code of Ala. 1975, §34-1-3.

History: Filed September 3, 1982.