Mississippi § 73-33-2 - Definitions.

§ 73-33-2. Definitions.

For the purposes of this chapter, unless context requires otherwise: “Attest” means providing the following services: Any audit or other engagement to be performed in accordance with the Statements on Auditing Standards (SAS); Any review of a financial statement to be performed in accordance with the Statements on Standards for Accounting and Review Services (SSARS); Any examination of prospective financial information to be performed with the Statements on Standards for Attestation Engagements (SSAE); Any engagement to be performed in accordance with the Auditing Standards of the Public Company Accounting Oversight Board (PCAOB); and Any examination, review or agreed upon procedures engagement to be performed in accordance with the SSAE, other than an examination described in subparagraph (iii) of this paragraph. The standard 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 American Institute of Certified Public Accountants (AICPA) and the Public Company Accounting Oversight Board (PCAOB). “Certified public accountant,” “CPA,” or “licensee” means an individual who holds a license issued by the Mississippi State Board of Public Accountancy to practice public accounting or qualifies for a practice privilege under Section 73-33-17. The term “license” is used synonymously for the terms “certificate” or “certification.” “Certified public accountant firm” or “CPA firm” means any professional corporation, partnership, joint venture, professional association, sole proprietor, or other business organization or office thereof allowable under state law and under the qualifications as set in the rules and regulations of the board maintained for the purpose of performing or offering to perform public accounting. “Compilation” means a service to be performed in accordance with Statements on Standards for Accounting and Review Services (SSARS) 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. “Practice of, or practicing, CPA public accounting or CPA public accountancy” means the performance, the offering to perform, or maintaining an office by a person, persons or firm holding itself out to the public as certified public accountant(s) or CPA firm, for a client or potential client, or certified public accountant(s) or CPA firm performing one or more kinds of services involving the use of accounting or auditing skills, including, but not limited to, the issuance of reports on financial statements, or of one or more kinds of management advisory, financial advisory or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. “Firm permit to practice public accounting” means a permit issued by the Mississippi State Board of Public Accountancy permitting a certified public accountant firm to practice CPA public accounting, and “permit holder” means a certified public accountant firm holding such permit. “Substantial equivalency” means a determination by the Mississippi State Board of Public Accountancy or its designee that another jurisdiction’s licensure requirements are comparable to or exceed those contained in Section 73-33-17(1), or that an individual who holds a valid license as a certified public accountant has education, examination and experience qualifications that are comparable to or exceed those contained in Section 73-33-17(1). 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 qualifications were attained. “Principal place of business” means the office location designated by the licensee for purposes of substantial equivalency and reciprocity. “Home office” is the location specified by the client as the address to which a service described in Section 73-33-17(4) is directed.