Sec. 20-279b. Definitions.
Sec. 20-279b. Definitions. As used in this section and sections 20-280 to 20-281n,
inclusive:
(1) "Board" means the State Board of Accountancy established by section 20-280;
(2) "Certificate" means a "certified public accountant" certificate issued either prior
to October 1, 1992, or pursuant to section 20-281c or a "certified public accountant"
certificate issued after examination pursuant to the laws of any other state;
(3) "Firm" means any person, proprietorship, partnership, corporation, limited liability company or association and any other legal entity which practices public accountancy;
(4) "License" means a public accountancy license issued pursuant to section 20-281b or 20-281d;
(5) "Licensee" means the holder of a certificate issued pursuant to section 20-281c,
the holder of a license issued pursuant to section 20-281b or 20-281d or a holder of a
permit to practice public accountancy issued pursuant to sections 20-281b and 20-281e;
(6) "Permit" means a permit to practice public accountancy issued to a firm pursuant
to section 20-281e;
(7) "Practicing public accountancy" means performing for the public or offering to
perform for the public for a fee by a person or firm holding himself or itself out to the
public as a licensee one or more kinds of services involving the use of accounting or
auditing skills, including, but not limited to, the 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;
(8) "Quality review" means any study, appraisal or review of one or more aspects
of the professional work of a person or firm which practices public accountancy by a
person or persons who holds or hold licenses under section 20-281b or 20-281d or their
equivalent under the laws of any other state and who are not affiliated with the person
or firm being reviewed;
(9) "Registration" means the process by which the holder of a certificate may register his certificate annually and pay a fee of twenty dollars in lieu of an annual renewal
of a license and be entitled to use the abbreviation "CPA" and the title "certified public
accountant" under conditions and in the manner prescribed by the board by regulation;
(10) "Profession" means the profession of public accountancy;
(11) "Report" means any writing which refers to a financial statement and (A) expresses or implies assurance as to the reliability of said financial statement, and includes,
but is not limited to, any writing disclaiming an opinion, when such writing contains
language conventionally understood in the profession to express or imply assurance as
to the reliability of such financial statement, and (B) expresses or implies that the person
or firm issuing such writing has special competence in accounting or auditing, which
expression or implication arises from, among other things, the use of written language
which is conventionally understood in the profession to express or imply assurance as
to the reliability of financial statements;
(12) "AICPA" means the American Institute of Certified Public Accountants;
(13) "Attest" means the provision of any of the following financial statement services:
(A) Any audit or other engagement to be performed in accordance with the Statements on Auditing Standards (SAS);
(B) Any review of a financial statement to be performed in accordance with the
Statements on Standards for Accounting and Review Services (SSARS);
(C) Any examination of prospective financial information to be performed in accordance with the Statements on Standards for Attestation Engagements (SSAE); and
(D) Any engagement to be performed in accordance with the Auditing Standards
of the PCAOB;
(14) "Compilation" means the provision of a service to be performed in accordance
with Statements on Standards for Accounting and Review Services (SSARS) that is
presented in the form of financial statements that is the representation of management
without undertaking to express any assurance on the statements;
(15) "Home office" means the location specified by the client as the address to
which a service described in section 20-281n is directed;
(16) "NASBA" means the National Association of State Boards of Accountancy;
(17) "PCAOB" means the Public Company Accounting Oversight Board;
(18) "Practice privilege" means the privilege for a person or firm to practice public
accountancy described in, and subject to the conditions contained in, sections 20-281e
and 20-281n;
(19) "Principal place of business" means the office location designated by an individual or firm for purposes of sections 20-281e and 20-281n;
(20) "Substantial equivalency" is a determination by the board of accountancy 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 the Uniform Accountancy Act or that an individual certified public accountant's education, examination
and experience qualifications are comparable to, or exceed, the education, examination
and experience requirements contained in the Uniform Accountancy Act.
(P.A. 92-212, S. 1; P.A. 95-79, S. 64, 189; P.A. 08-52, S. 1.)
History: P.A. 95-79 redefined "firm" to include a limited liability company, effective May 31, 1995; P.A. 08-52 amended
Subdiv. (8) to add "person or" and added Subdivs. (12) to (20) to define "AICPA", "attest", "compilation", "home office",
"NASBA", "PCAOB", "practice privilege", "principal place of business" and "substantial equivalency", effective May
12, 2008.