Washington Code > Chapter 18.04 – Accountancy
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Terms Used In Washington Code > Chapter 18.04 - Accountancy
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- 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.
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Attest: means providing the following services:
Washington Code 18.04.025Board: means the board of accountancy created by RCW 18. See Washington Code 18.04.025 Certificate: means an alternative license type issued by the board indicating that the certificate holder had passed the CPA examination, but has not verified the certificate holder's experience and was not fully licensed as a certified public accountant to practice public accounting. See Washington Code 18.04.025 Compilation: means providing a service to be performed in accordance with statements on standards for accounting and review services that is presenting in the form of financial statements, information that is the representation of management (owners) without undertaking to express any assurance on the statements. See Washington Code 18.04.025 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 a person holding a certified public accountant license or certificate. See Washington Code 18.04.025 CPE: means continuing professional education. See Washington Code 18.04.025 Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial. 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, or a partnership. See Washington Code 18.04.025 Fraud: Intentional deception resulting in injury to another. Holding out: means any representation to the public by the use of restricted titles as set forth in RCW 18. See Washington Code 18.04.025 Inactive: means the status of a license that is prohibited from practicing public accounting. See Washington Code 18.04.025 Individual: means a living, human being. See Washington Code 18.04.025 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 license to practice public accountancy issued to an individual under this chapter, or a license issued to a firm under this chapter. See Washington Code 18.04.025 Licensee: means the holder of a license to practice public accountancy issued under this chapter. See Washington Code 18.04.025 Manager: means a manager of a limited liability company licensed as a firm under this chapter. See Washington Code 18.04.025 NASBA: means the national association of state boards of accountancy. See Washington Code 18.04.025 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 attest or compilation work of a licensee or licensed firm in the practice of public accountancy, by a person or persons who hold licenses and who are not affiliated with the person or firm being reviewed, including a peer review, or any internal review or inspection intended to comply with quality control policies and procedures, but not including a quality assurance review. See Washington Code 18.04.025 Person: means any individual, nongovernmental organization, or business entity regardless of legal form, including a sole proprietorship, firm, partnership, corporation, limited liability company, association, or not-for-profit organization, and including the sole proprietor, partners, members, and, as applied to corporations, the officers. See Washington Code 18.04.025 Practice of public accounting: means performing or offering to perform by a person or firm holding itself out to the public as a licensee, for a client or potential client, one or more kinds of services involving the use of accounting or auditing skills, including the issuance of "reports" or 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 Washington Code 18.04.025 Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way. Principal place of business: means the office location designated by the licensee for purposes of substantial equivalency and reciprocity. See Washington Code 18.04.025 Quality assurance review: means a process established by and conducted at the direction of the board of study, appraisal, or review of one or more aspects of the attest or compilation work of a licensee or licensed firm in the practice of public accountancy, by a person or persons who hold licenses and who are not affiliated with the person or firm being reviewed. See Washington Code 18.04.025 Quorum: The number of legislators that must be present to do business. Report: includes any form of language which disclaims an opinion when such form of language is conventionally understood to imply any positive assurance as to the reliability of the attested information or compiled financial statements referred to and/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 and/or such special knowledge or competence. See Washington Code 18.04.025 Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. Review committee: means any person carrying out, administering or overseeing a peer review authorized by the reviewee. See Washington Code 18.04.025 Rule: means any rule adopted by the board under authority of this chapter. See Washington Code 18.04.025 Service of process: The service of writs or summonses to the appropriate party. Sole proprietorship: means a legal form of organization owned by one person meeting the requirements of RCW 18. See Washington Code 18.04.025 State: includes the states of the United States, the District of Columbia, Puerto Rico, Guam, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands at such time as the board determines that the Commonwealth of the Northern Mariana Islands is issuing licenses under the substantially equivalent standards in RCW 18. See Washington Code 18.04.025 Subpoena: A command to a witness to appear and give testimony. substantially equivalent: means a determination by the board 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 Washington Code 18.04.025 Testify: Answer questions in court. Testimony: Evidence presented orally by witnesses during trials or before grand juries.