§ 43-02.2-04.1 — Substantial equivalency

North Dakota § 43-02.2-04.1

• Jurisdiction: North Dakota
• Title 43: Occupations and Professions
• Ch. 43-02.2: Accountants

Text

10. "Practice review" means a study, appraisal, or review of one or more aspects of the
professional work of a firm in the practice of public accountancy, by a person or
persons who hold certificates and are in the practice of public accounting and who are
not affiliated with the person or firm being reviewed.

11. "Principal place of business" means the office location designated by the licensee for
purposes of substantial equivalence and reciprocity.
12. "Professional" means arising out of or related to the specialized knowledge or skills
associated with certified public accountants or licensed public accountants.
13. "Report", when used with reference to financial statements, means an opinion, report,
or other form of language that states or implies assurance as to the reliability of any
financial statements and that also includes or is accompanied by any statement or
implication that the person or firm issuing it has special knowledge or competence in
accounting or auditing. A statement or implication of special knowledge or competence
may arise from use by the issuer of the report of names or titles indicating that the
issuer is an accountant, auditor, or is in the business of accounting, or from the
language of the report. "Report" includes any form of language that disclaims an
opinion when the 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. "Report" includes
any other form of language that is conventionally understood to imply such assurance
or such special knowledge or competence.
14. "Rule" means any rule, regulation, or other written directive of general application duly
adopted by the board.
15. "State" means any state of the United States, the District of Columbia, the
Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, and the
Commonwealth of the Northern Mariana Islands.
16. "Substantial equivalency", as used in section 43-02.2-04, pertaining to certification by
reciprocity, and in section 43-02.2-04.1, pertaining to the practice privilege, is a
determination by the board or its designee that another jurisdiction's education,
examination, and experience requirements are comparable to or exceed that of the
Uniform Accountancy Act, or that an individual's education, examination, and
experience qualifications are comparable to or exceed that of the Uniform
Accountancy Act. In ascertaining substantial equivalency as used in this chapter, the
board shall take into account the qualifications without regard to the sequence in which
experience, education, or examination requirements were attained.