Terms Used In Tennessee Code > Title 62 > Chapter 1 > Part 1 - General Provisions

• Age of majority: means eighteen (18) years of age or older. See Tennessee Code 1-3-105
• Appraisal: A determination of property value.
• Attest: means providing the following services:
  (A) Any audit or other engagement to be performed in accordance with the Statements on Auditing Standards (SAS). See Tennessee Code 62-1-103
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Board: means the state board of accountancy established under §. See Tennessee Code 62-1-103
• Certificate: means a certificate as certified public accountant issued under §. See Tennessee Code 62-1-103
• Client: means a person or entity that agrees to receive any professional service from a licensee. See Tennessee Code 62-1-103
• Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Dependent: A person dependent for support upon another.
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• License: means a certificate issued under §. See Tennessee Code 62-1-103
• Licensee: means the holder of a license. See Tennessee Code 62-1-103
• Manager: means a manager of a limited liability company. See Tennessee Code 62-1-103
• Member: means a member of a limited liability company. See Tennessee Code 62-1-103
• PA firm: means a sole proprietorship, corporation, partnership or any other form of organization issued a permit under §. See Tennessee Code 62-1-103
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Peer review: means a study, appraisal or review of one (1) or more aspects of the professional work of a CPA firm that performs attest services by a qualified person or persons who hold certificates and who are not affiliated with the CPA firm being reviewed. See Tennessee Code 62-1-103
• Permit: means a permit to practice as a CPA firm issued under §. See Tennessee Code 62-1-103
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Personal representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Professional: means arising out of or related to the specialized knowledge or skills associated with CPAs. See Tennessee Code 62-1-103
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Public accountant: means a person holding a registration issued under §. See Tennessee Code 62-1-103
• Quorum: The number of legislators that must be present to do business.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
• Registration: means the registration issued to a public accountant under §. See Tennessee Code 62-1-103
• Report: when used with reference to attest services, means an opinion, report or other form of language that states or implies assurance as to the reliability of any financial statements or assertion. See Tennessee Code 62-1-103
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Rule: means any rule, regulation or other written directive of general application duly adopted by the board in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5. See Tennessee Code 62-1-103
• State: means any state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands and Guam, except that "this state" means the state of Tennessee. See Tennessee Code 62-1-103
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• 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 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. See Tennessee Code 62-1-103
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105