Terms Used In Hawaii Revised Statutes > Chapter 466 - Public Accountancy

• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Attest: means providing the following financial statement services:

  (1) Any audit or other engagement to be performed in accordance with the statements on auditing standards of the American Institute of Certified Public Accountants;

  (2) Any compilation or review of a financial statement to be performed in accordance with the statements on standards for accounting and review services of the American Institute of Certified Public Accountants;

  (3) Any examination of prospective financial information to be performed in accordance with the statements on standards for attestation engagements of the American Institute of Certified Public Accountants;

  (4) Any engagement to be performed in accordance with the government auditing standards, also known as the Yellow Book, issued by the United States Government Accountability Office; and

  (5) Any engagement to be performed in accordance with the standards of the Public Company Accounting Oversight Board. See Hawaii Revised Statutes 466-3

• Board: means the state board of public accountancy established under § 466-4. See Hawaii Revised Statutes 466-3
• Certified public accountant: means the designation given to a person licensed under § 466-5 or the law of any other state or foreign country. See Hawaii Revised Statutes 466-3
• 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.
• county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
• Department: means the department of commerce and consumer affairs. See Hawaii Revised Statutes 466-3
• Director: means the director of commerce and consumer affairs. See Hawaii Revised Statutes 466-3
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Firm: means a sole proprietorship, a corporation, a partnership, a limited liability company, or a limited liability partnership. See Hawaii Revised Statutes 466-3
• Fraud: Intentional deception resulting in injury to another.
• Hawaii attest work: means attest services provided or attest reports issued by an individual or firm licensed and authorized to practice public accountancy in this State or any other state, to any of the following clients:

  (1) An individual who is a resident of this State;

  (2) A person, entity, firm, or trust that is domiciled within this State, or whose principal or home office is physically located within this State; or

  (3) A subsidiary that has a physical presence in this State, and has a separate, stand-alone financial statement or report issued on that subsidiary. See Hawaii Revised Statutes 466-3

• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• License: means the document issued by the board to a person designated as a certified public accountant under § 466-5, or a person licensed as a public accountant under § 466-6, or a valid comparable certificate, registration, or license of certified public accountant or public accountant issued after examination under the law of any other state or foreign country, or of a permit issued under § 466-7. See Hawaii Revised Statutes 466-3
• Oversight: Committee review of the activities of a Federal agency or program.
• Partner: means a partner in any general partnership, foreign general partnership, limited liability partnership, or foreign limited liability partnership. See Hawaii Revised Statutes 466-3
• 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.
• Partnership: means any general partnership, foreign general partnership, limited liability partnership, or foreign limited liability partnership. See Hawaii Revised Statutes 466-3
• Peer review: means a study, appraisal, or review of one or more aspects of the professional work of a firm that issues attest reports by a person or persons who hold permits to practice public accountancy under § 466-7 or are licensed to practice public accountancy in any other state and who are not affiliated with the firm being reviewed. See Hawaii Revised Statutes 466-3
• Permit: means a permit to actively practice public accountancy issued under § 466-7. See Hawaii Revised Statutes 466-3
• Practice of public accountancy: means the performance or the offering to perform, by a person or firm holding itself out to the public as a licensee, for a client or potential client of one or more kinds of services involving the use of accounting or auditing skills, including the issuance of reports on financial statements, or of one or more kinds of management advisory or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. See Hawaii Revised Statutes 466-3
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Public accountant: means the designation given to a person licensed under § 466-6, or the law of any other state or foreign country. See Hawaii Revised Statutes 466-3
• Rating: means the type of report issued following a peer review. See Hawaii Revised Statutes 466-31
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Report: when used with reference to financial statements, means an opinion, report, or other form of language that states or implies the measure of assurance as to the reliability of any financial statements, and that also includes, or is accompanied by, any statement or implication that the firm issuing it has special knowledge or competence in accounting or auditing. See Hawaii Revised Statutes 466-3
• Sponsoring organization: means a third-party entity that meets the standards specified by this part for administering a peer review. See Hawaii Revised Statutes 466-31
• State: means any state, territory, or insular possession of the United States, except that "this State" means the State of Hawaii. See Hawaii Revised Statutes 466-3
• Testify: Answer questions in court.