Section R4-1-101. Definitions

A.       The definitions in A.R.S. § 32-701 apply to this chapter.

B.       In this chapter, unless the context otherwise requires:

1.        “Compilation services” has the same meaning as Section

60.05 of the Statements on Standards for Accounting and

Review Services No. 19, issued December 2009 and pub- lished June 1, 2013, by the American Institute of Certi- fied Public Accountants, 1211 Avenue of the Americas, New York, New York 10036-8775, which is incorporated by reference. This incorporation by reference does not include any later amendments or editions. The incorpo- rated material is available for inspection and copying at the Board's office.

2.        “Contested case”  means any proceeding in which the legal rights, duties, or privileges of a party are required by law to be determined by any agency after an opportunity for hearing.

3.        “CPE” or “continuing professional education” means attending classes, writing articles, conducting or teaching courses, and taking self-study courses if the activities contribute to maintaining and improving of professional competence in accounting.

4.        “Educational Enhancement Review” means an assess- ment by the PROAC of one or more aspects of the profes- sional work of a firm that performs only nondisclosure compilation services.

5.        “Full-disclosure compilation services” means a compila- tion of financial statements that does not omit substan- tially all disclosures.

6.        “Nondisclosure compilation services” means a compila- tion of financial statements that omits substantially all disclosures.

7.        “Party” means each person or agency named or admitted as a party, or properly seeking and entitled, as of right, to be admitted as a party.

8.        “Peer review” means an assessment of one or more aspects of the professional work of a firm that is regis- tered with the Board to practice public accounting and performs attest services or full-disclosure compilation or nondisclosure compilation services conducted according to R4-1-454 (K).

9.        “Person” may include any individual, and any form of corporation, partnership, or professional limited liability company.

10.     “Upper division course” means a course taken beyond the basic level, after any required prerequisite or introductory accounting course and does not include principals of accounting or similar introductory accounting courses.

Historical Note

Former Rule 1A; Amended effective February 22, 1978 (Supp. 78-1). Former Section R4-1-01 renumbered as Section R4-1-101 without change effective July 1, 1983 (Supp. 83-4). Amended effective August 21, 1986 (Supp.

86-4). Amended effective December 6, 1995 (Supp. 95-

4). Amended effective November 20, 1998 (Supp. 98-4). Amended by final rulemaking at 10 A.A.R. 4352, effec- tive December 4, 2004 (Supp. 04-4). Amended by final

rulemaking at 20 A.A.R. 520, effective February 4, 2014

(Supp. 14-1).