Idaho Code > Title 54 > Chapter 2 – Accountants
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Idaho Code > Title 54 > Chapter 2 - Accountants
- AICPA: means the American institute of certified public accountants. See Idaho Code 54-206
- Applicant: means any person having the requisite qualifications who makes application to the board for examination, or for initial issuance or renewal or reinstatement of a license under the provisions of this chapter. See Idaho Code 54-206
- Appraisal: A determination of property value.
- Attest: means providing the following professional services:
Idaho Code 54-206Board: means the Idaho state board of accountancy. See Idaho Code 54-206 Certificate: means that document issued by the board upon original approval of licensure. See Idaho Code 54-206 Chambers: A judge's office. Client: means the person or entity that agrees with a licensee or licensee’s employer to receive any professional services with or without compensation and shall include all affiliates and related entities in the financial statements of an attest or compilation engagement. See Idaho Code 54-206 Compilation: means a service performed in accordance with statements on standards for accounting and review services that presents, in the form of historical or prospective financial statements, information that is the representation of management or owners without undertaking to express any assurance on the statements. See Idaho Code 54-206 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. CPA: means any person who holds a valid, unrevoked and unsuspended license under the provisions of chapter 2, title 54, Idaho Code, or an equivalent provision of the laws of another state designating said person as a certified public accountant. See Idaho Code 54-206 Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Dependent: A person dependent for support upon another. 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. Financial statements: means a presentation of historical or prospective financial data, which may include accompanying notes, intended to communicate an entity’s economic resources or obligations at a point in time, or the changes therein for a period of time, in accordance with a comprehensive basis of accounting. See Idaho Code 54-206 Firm: means a proprietorship, partnership, professional corporation, professional limited liability company, or any other form of professional organization permitted by Idaho law, registered under the requirements of section 54-214, Idaho Code. See Idaho Code 54-206 Fraud: Intentional deception resulting in injury to another. Good character: means lack of a history of dishonest dealings or not having been convicted, found guilty, or received a withheld judgment or a suspended sentence in this state or in any other state of a crime that is deemed relevant in accordance with section 67-9411(1), Idaho Code. See Idaho Code 54-206 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 that authorization issued by the board upon original approval and on an annual basis permitting a qualified person to practice as a certified public accountant or licensed public accountant in the state of Idaho. See Idaho Code 54-206 Licensee: means the holder of a current valid license. See Idaho Code 54-206 LPA: means any person who holds a valid, unrevoked and unsuspended license under the provisions of chapter 2, title 54, Idaho Code, designating said person as a licensed public accountant. See Idaho Code 54-206 Member: means a person who has been admitted to membership in a firm that is organized as a limited liability company. See Idaho Code 54-206 Oversight: Committee review of the activities of a Federal agency or program. 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. PCAOB: means the public company accounting oversight board. See Idaho Code 54-206 Peer review: means a board-approved study, appraisal or review of one (1) or more aspects of the professional work of a licensee or firm that performs attest services or issues compilation reports, by a person or persons licensed under this chapter or by another state and who are independent of the licensee or firm being reviewed. See Idaho Code 54-206 Permit: means a permit to practice as a firm issued under corresponding provisions of the laws of other states. See Idaho Code 54-206 Person: means any natural living person. See Idaho Code 54-206 Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court. Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed. Professional services: means services arising out of or related to the specialized knowledge or skills associated with certified public accountants or licensed public accountants. See Idaho Code 54-206 Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government. Quorum: The number of legislators that must be present to do business. report: includes any form of language that disclaims an opinion when such form of language is conventionally understood to imply any positive assurance as to the reliability of the financial statements referred to or special competence on the part of the person or firm issuing such language; and it includes any other form of language that is conventionally understood to imply such assurance or special knowledge or competence. See Idaho Code 54-206 State: means any state of the United States, the District of Columbia, Puerto Rico, the U. See Idaho Code 54-206 Subpoena: A command to a witness to appear and give testimony. substantially equivalent: means a determination by the board 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 for CPAs contained in this chapter or that an individual licensee’s education, examination and experience qualifications are comparable to or exceed the education, examination and experience requirements for CPAs contained in this chapter. See Idaho Code 54-206 Testimony: Evidence presented orally by witnesses during trials or before grand juries. this state: means the state of Idaho. See Idaho Code 54-206 Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident. Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.