Okla. Stat. tit. 59, § 59-15.1A

As used in the Oklahoma Accountancy Act:

1. “Accountancy” means the profession or practice of

accounting;

2. “AICPA” means the American Institute of Certified Public

Accountants;

3. “Applicant” means an individual or entity that has made

application to the Board for a certificate or permit and the

application has not been approved;

4. “Assurance” means independent professional services that

improve the quality of information, or its context, for decision

makers;

5. “Attest” means providing the following services:

a. any audit or other engagement to be performed in

accordance with the Statements on Auditing Standards

(SAS),

b. any review of a financial statement to be performed in

accordance with the Statements on Standards for

Accounting and Review Services (SSARS),

c. any examination of prospective financial information

to be performed in accordance with the Statements on

Standards for Attestation Engagements (SSAE),

d. any engagement to be performed in accordance with the

Auditing Standards of the Public Company Accounting

Oversight Board (PCAOB), and

e. any engagements, review, or agreed upon procedures

engagement to be performed in accordance with the

SSAE, other than the exceptions described in

subparagraph c of paragraph 34 of this section.

The statements on standards specified in this definition shall

be adopted by reference by the Board pursuant to rulemaking and

shall be those developed for general application by recognized

national accountancy organizations, such as the AICPA, IFAC and the

PCAOB;

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6. “Audit” can only be performed by an individual or entity who

is registered with the Board and holding a valid permit issued

pursuant to the Oklahoma Accountancy Act, or an entity that is

exempt from registration under paragraph 3 of subsection A of

Section 15.15 of this title or an individual granted practice

privileges under Section 15.12A of this title, and means a

systematic investigation or appraisal of information, procedures, or

operations performed in accordance with generally accepted auditing

standards in the United States, for the purpose of determining

conformity with established criteria and communicating the results

to interested parties;

7. “Board” means the Oklahoma Accountancy Board;

8. “Candidate” means an individual who has been qualified and

approved by the Board to take the examination for a certificate;

9. “Certificate” means the Oklahoma document issued by the

Board to a candidate upon successful completion of the certified

public accountant examination designating the holder as a certified

public accountant pursuant to the laws of Oklahoma. Certificate

shall also mean the Oklahoma document issued by reciprocity to an

individual who has previously been certified in another

jurisdiction;

10. “Certified public accountant” means any person who has

received a certificate from the Board or other jurisdictions;

11. “Client” means the individual or entity which retains a

registrant, an individual granted practice privileges under Section

15.12A of this title, or a firm exempt from the permit and

registration requirements under Section 15.15C of this title, which

also is exempt from the registration requirement of paragraph 3 of

subsection A of Section 15.15 of this title, to perform professional

services;

12. “Compilation” when used with reference to financial

statements, means presenting information in the form of financial

statements which is the representation of management or owners

without undertaking to express any assurance on the statements;

13. “CPA” or “C.P.A.” means certified public accountant;

14. “Designated manager” means the Oklahoma certified public

accountant or public accountant appointed by the firm partners or

shareholders to be responsible for the administration of the office;

15. “Designee” means the National Association of State Boards
ement or owners

without undertaking to express any assurance on the statements;

13. “CPA” or “C.P.A.” means certified public accountant;

14. “Designated manager” means the Oklahoma certified public

accountant or public accountant appointed by the firm partners or

shareholders to be responsible for the administration of the office;

15. “Designee” means the National Association of State Boards

of Accountancy (NASBA) or other entities so designated by the Board;

16. “Entity” means an organization whether for profit or not,

recognized by this state to conduct business;

17. “Examination” means all or any part of the Uniform

Certified Public Accountant Examination developed and scored by the

American Institute of Certified Public Accountants as approved or

designated by the Board;

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18. “Executive director” means the chief administrative officer

of the Board;

19. “Financial statements” means statements and footnotes

related thereto that undertake to present an actual or anticipated

financial position as of a point in time, or results of operations,

cash flow, or changes in financial position for a period of time, in

conformity with generally accepted accounting principles or another

comprehensive basis of accounting. The term does not include

incidental financial data included in management advisory service

reports to support recommendations to a client; nor does it include

tax returns and supporting schedules;

20. “Firm” means an entity that is either a sole

proprietorship, partnership, professional limited liability company,

professional limited liability partnership, limited liability

partnership or professional corporation, or any other professional

form of organization organized under the laws of this state or the

laws of another jurisdiction and issued a permit in accordance with

Section 15.15A of this title or exempt from the permit requirement

under Section 15.15C of this title, which also is exempt from the

registration requirement of paragraph 3 of subsection A of Section

15.15 of this title, including individual partners or shareholders,

that is engaged in accountancy;

21. “Holding out” means any representation by an individual

that he or she holds a certificate or license and a valid permit, or

by an entity that it holds a valid permit. Any such representation

is presumed to invite the public to rely upon the professional

skills implied by the certificate or license and valid permit in

connection with the services or products offered;

22. “Home office” means the location specified by the client as

the address to which a service described in Section 15.12A of this

title is directed;

23. “IFAC” means the International Federation of Accountants;

24. “Individual” means a human being;

25. “Jurisdiction” means any state or territory of the United

States and the District of Columbia;

26. “License” means the Oklahoma document issued by the Board

to a candidate upon successful completion of the public accountant

examination designating the holder as a public accountant pursuant

to the laws of this state. License shall also mean the Oklahoma

document issued by the Board by reciprocity to a public accountant

who has previously been licensed by examination in another

jurisdiction;

27. “Management advisory services”, also known as “management

consulting services”, “management services”, “business advisory

services” or other similar designation, hereinafter collectively

referred to as “MAS”, means the function of providing advice and/or

technical assistance, performed in accordance with standards for MAS

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engagements and MAS consultations such as those issued by the

American Institute of Certified Public Accountants, where the

primary purpose is to help the client improve the use of its
tively

referred to as “MAS”, means the function of providing advice and/or

technical assistance, performed in accordance with standards for MAS

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engagements and MAS consultations such as those issued by the

American Institute of Certified Public Accountants, where the

primary purpose is to help the client improve the use of its

capabilities and resources to achieve its objectives including but

not limited to:

a. counseling management in analysis, planning,

organizing, operating, risk management and controlling

functions,

b. conducting special studies, preparing recommendations,

proposing plans and programs, and providing advice and

technical assistance in their implementation,

c. reviewing and suggesting improvement of policies,

procedures, systems, methods, and organization

relationships, and

d. introducing new ideas, concepts, and methods to

management.

MAS shall not include recommendations and comments prepared as a

direct result of observations made while performing an audit,

review, or compilation of financial statements or while providing

tax services including tax consultations;

28. “NASBA” means the National Association of State Boards of

Accountancy;

29. “PA” or “P.A.” means public accountant;

30. “Partnership” means a contractual relationship based upon a

written, oral, or implied agreement between two or more individuals

who combine their resources and activities in a joint enterprise and

share in varying degrees and by specific agreement in the management

and in the profits or losses. A partnership may be general or

limited as the laws of this state define those terms;

31. “PCAOB” means the Public Company Accounting Oversight

Board;

32. “Peer review” means a review performed pursuant to a set of

peer review rules established by the Board. The term peer review

also encompasses the term “quality review”;

33. “Permit” means the written authority granted annually by

the Board to individuals or firms to practice public accounting in

this state, which is issued pursuant to the Oklahoma Accountancy

Act;

34. a. “Practice of public accounting”, also known as

“practice public accounting”, “practice” and “practice

accounting”, refers to the activities of a registrant,

an individual granted practice privileges under

Section 15.12A of this title, or a firm exempt from

the permit and registration requirements under Section

15.15C of this title in reference to accountancy. An

individual or firm shall be deemed to be engaged in

the practice of public accounting if the individual or

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firm holds itself out to the public in any manner as

one skilled in the knowledge, science, and practice of

accounting and auditing, taxation and management

advisory services and is qualified to render such

professional services as a certified public accountant

or public accountant, and performs the following:

(1) maintains an office for the transaction of

business as a certified public accountant or

public accountant,

(2) offers to prospective clients to perform or who

does perform on behalf of clients professional

services that involve or require an audit,

verification, investigation, certification,

presentation, or review of financial transactions

and accounting records or an attestation

concerning any other written assertion,

(3) prepares or certifies for clients reports on

audits or investigations of books or records of

account, balance sheets, and other financial,

accounting and related schedules, exhibits,

statements, or reports which are to be used for

publication or for the purpose of obtaining

credit, or for filing with a court of law or with

any governmental agency, or for any other

purpose,
assertion,

(3) prepares or certifies for clients reports on

audits or investigations of books or records of

account, balance sheets, and other financial,

accounting and related schedules, exhibits,

statements, or reports which are to be used for

publication or for the purpose of obtaining

credit, or for filing with a court of law or with

any governmental agency, or for any other

purpose,

(4) generally or incidentally to the work described

herein, renders professional services to clients

in any or all matters relating to accounting

procedure and to the recording, presentation, or

certification of financial information or data,

(5) keeps books, or prepares trial balances,

financial statements, or reports, all as a part

of bookkeeping services for clients,

(6) prepares or signs as the tax preparer, tax

returns for clients, consults with clients on tax

matters, conducts studies for clients on tax

matters and prepares reports for clients on tax

matters, unless the services are uncompensated

and are limited solely to the registrant’s, or

the registrant’s spouse’s lineal and collateral

heirs,

(7) prepares personal financial or investment plans

or provides to clients products or services of

others in implementation of personal financial or

investment plans, or

(8) provides management advisory services to clients.

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b. Except for an individual granted practice privileges

under Section 15.12A of this title or a firm exempt

from the permit and registration requirements under

Section 15.15C of this title, an individual or firm

not holding a certificate, license or permit shall not

be deemed to be engaged in the practice of public

accounting if the individual or firm does not hold

itself out, solicit, or advertise for clients using

the certified public accountant or public accountant

designation and engages only in the following

services:

(1) keeps books, or prepares trial balances,

financial statements, or reports, provided such

instruments do not use the terms “audit”,

“audited”, “exam”, “examined”, “review” or

“reviewed” or are not exhibited as having been

prepared by a certified public accountant or

public accountant. Except for an individual

granted practice privileges under Section 15.12A

of this title or a firm exempt from the permit

and registration requirements under Section

15.15C of this title, nonregistrants may use the

following disclaimer language in connection with

financial statements and be in compliance with

the Oklahoma Accountancy Act: “I (we) have not

audited, examined or reviewed the accompanying

financial statements and accordingly do not

express an opinion or any other form of assurance

on them.”,

(2) prepares or signs as the tax preparer, tax

returns for clients, consults with clients on tax

matters, conducts studies for clients on tax

matters and prepares reports for clients on tax

matters,

(3) prepares personal financial or investment plans

or provides to clients products or services of

others in implementation of personal financial or

investment plans, or
assurance

on them.”,

(2) prepares or signs as the tax preparer, tax

returns for clients, consults with clients on tax

matters, conducts studies for clients on tax

matters and prepares reports for clients on tax

matters,

(3) prepares personal financial or investment plans

or provides to clients products or services of

others in implementation of personal financial or

investment plans, or

(4) provides management advisory services to clients.

c. Only permit holders, individuals granted practice

privileges under Section 15.12A of this title, or

firms exempt from the permit and registration

requirements under Section 15.15C of this title, who

also meet the requirements of paragraph 3 of

subsection A of Section 15.15 of this title, may

render or offer to render any attest service, as

defined herein, or issue a report on financial

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statements which purport to be in compliance with the

Statements on Standards for Accounting and Review

Services (SSARS). This restriction shall not prohibit

any act of a public official or public employee in the

performance of that person’s duties. This restriction

shall not be construed to prohibit the performance by

any unlicensed individual of other services as set out

in subparagraph b of this paragraph.

d. A person is not deemed to be practicing public

accounting within the meaning of this section solely

by displaying an Oklahoma CPA certificate or a PA

license in an office, identifying himself or herself

as a CPA or PA on letterhead or business cards, or

identifying himself or herself as a CPA or PA.

However, the designation of CPA or PA on such

letterheads, business cards, public signs,

advertisements, publications directed to clients or

potential clients, financial or tax documents of a

client, performance of any attest service or issuance

of a report constitutes the practice of public

accounting and requires a permit, practice privileges

under Section 15.12A of this title, or an exemption

from the permit and registration requirements under

Section 15.15C of this title;

35. “Preissuance review” means a review preformed pursuant to a

set of procedures that include review of engagement document,

report, and clients’ financial statements in order to permit the

reviewer to assess compliance with all applicable professional

standards;

36. “Principal place of business” means the office location

designated by the licensee for the purposes of substantial

equivalency and reciprocity;

37. “Professional corporation” means a corporation organized

pursuant to the laws of this state;

38. “Professional” means arising out of or related to the

specialized knowledge or skills associated with CPAs or PAs;

39. “Public accountant” means any individual who has received a

license from the Board;

40. “Public interest” means the collective well-being of the

community of people and institutions the profession serves;

41. “Qualification applicant” means an individual who has made

application to the Board to qualify to become a candidate for

examination;

42. “Registrant” means a CPA, PA, or firm composed of certified

public accountants or public accountants or combination of both

currently registered with the Board pursuant to the authority of the

Oklahoma Accountancy Act;

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43. “Report”, when used with reference to any attest or

compilation service, means an opinion, report or other form of

language that states or implies assurance as to the reliability of

the attested information or complied 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. Such a statement or implication of special

knowledge or competence may arise from use by the issuer of the
that states or implies assurance as to the reliability of

the attested information or complied 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. Such 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 person or firm is an

accountant or auditor, or from the language of the report itself.

The term 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. This definition is not intended to

include a report prepared by a person not holding a certificate or

license or not granted practice privileges under Section 15.12A of

this title. However, such report shall not refer to “audit”,

“audited”, “exam”, “examined”, “review” or “reviewed”, nor use the

language “in accordance with standards established by the American

Institute of Certified Public Accountants” or successor of this

entity, or governmental agency approved by the Board, except for the

Internal Revenue Service. Except for an individual granted practice

privileges under Section 15.12A of this title or a firm exempt from

the permit and registration requirements under Section 15.15C of

this title, nonregistrants may use the following disclaimer language

in connection with financial statements not to be in violation of

the Oklahoma Accountancy Act: “I (we) have not audited, examined,

or reviewed the accompanying financial statements and accordingly do

not express an opinion or any other form of assurance on them.”;

44. “Representation” means any oral or written communication

including but not limited to the use of title or legends on

letterheads, business cards, office doors, advertisements, and

listings conveying the fact that an individual or entity holds a

certificate, license or permit;

45. “Review”, when used with reference to financial statements,

means a registrant or an individual granted practice privileges

under Section 15.12A of this title, which also meets the

requirements of paragraph 3 of subsection A of Section 15.15 of this

title, or a firm exempt from the permit and registration

requirements under Section 15.15C of this title performing inquiry

and analytical procedures that provide the registrant with a

reasonable basis for expressing limited assurance that there are no

material modifications that should be made to the statements in

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order for them to be in conformity with generally accepted

accounting principles or, if applicable, with another comprehensive

basis of accounting; and

46. “Substantial equivalency” is a determination by the

Oklahoma Accountancy Board or its designee that:

a. 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 the AICPA/NASBA Uniform Accountancy Act,

or

b. that an individual certified public accountant’s or

public accountant’s education, examination and

experience qualifications are comparable to or exceed

the education, examination and experience requirements

contained in the Oklahoma Accountancy Act and rules of

the Board.

In ascertaining substantial equivalency as used in the Oklahoma

Accountancy Act, the Board or its designee shall take into account
ividual certified public accountant’s or

public accountant’s education, examination and

experience qualifications are comparable to or exceed

the education, examination and experience requirements

contained in the Oklahoma Accountancy Act and rules of

the Board.

In ascertaining substantial equivalency as used in the Oklahoma

Accountancy Act, the Board or its designee shall take into account

the qualifications without regard to the sequence in which

experience, education, or examination requirements were attained.