Maine Revised Statutes > Title 32 > Chapter 113 > Subchapter 1 – General Provisions
Current as of: 2023 | Check for updates
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Other versions
| § 12201 | Definitions |
| § 12202 | Unlicensed persons or firms |
| § 12203 | Fees |
Terms Used In Maine Revised Statutes > Title 32 > Chapter 113 > Subchapter 1 - General Provisions
- Appraisal: A determination of property value.
- Attest service: means providing the following services:
A. See Maine Revised Statutes Title 32 Sec. 12201Board: means the Board of Accountancy established under Title 5, section 12004?A, subsection 1, or its predecessor under prior law. See Maine Revised Statutes Title 32 Sec. 12201 Certificate: means a certificate as "certified public accountant" issued under prior law, and a certificate as "public accountant" issued under prior law, or a corresponding certificate as a certified public accountant issued after examination under the law of any other state. See Maine Revised Statutes Title 32 Sec. 12201 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. Department: means the Department of Professional and Financial Regulation. See Maine Revised Statutes Title 32 Sec. 12201 Firm: means a sole proprietorship, a corporation, a partnership or any other form of organization. See Maine Revised Statutes Title 32 Sec. 12201 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. Licensee: means a person who holds a license issued by the board under section 12230 or 12231 or a corresponding provision of prior law, or a firm that holds a license issued by the board under section 12252. See Maine Revised Statutes Title 32 Sec. 12201 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. Peer review: means a study, appraisal or review of one or more aspects of the professional work of a certified public accountancy firm that provides an attest service by a person or persons who are licensed as certified public accountants and who are not affiliated with the certified public accountancy firm being reviewed. See Maine Revised Statutes Title 32 Sec. 12201 Practice of or practicing public accountancy: means the following combined activities by a person or firm:
A. See Maine Revised Statutes Title 32 Sec. 12201Report: includes any form of language that disclaims an opinion when such form of language is conventionally understood to imply positive assurances as to the reliability of the attest information or compiled financial statements referred to or special competence on the part of the person or firm issuing such language and includes any other form of language that is conventionally understood to imply such assurance or such special knowledge or competence. See Maine Revised Statutes Title 32 Sec. 12201 Rule: means any rule or other written directive of general application duly adopted by the board. See Maine Revised Statutes Title 32 Sec. 12201 Substantial equivalency: means that the education, examination and experience requirements for certified public accountants contained in the statutes and administrative rules of another jurisdiction are comparable to or exceed the education, examination and experience requirements of this State or that an individual certified public accountant's education, examination and experience qualifications are comparable to or exceed the education, examination and experience requirements of this State. See Maine Revised Statutes Title 32 Sec. 12201 United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72