South Dakota § 36-20B-1 - Definitions.

§ 36-20B-1. Definitions.

Terms as used in this chapter mean:

(1)    "Board," the South Dakota Board of Accountancy;

(2)    "Certificate," a certified public accountant certificate issued pursuant to this chapter or a certified public accountant certificate issued, after examination, under the law of any other state;

(3)    "Client," a person that agrees with a licensee to receive a professional service, other than an employer-employee relationship;

(4)    "CPA firm" and "PA firm," a sole proprietorship, corporation, partnership, or any other form of organization permitted by law, issued a permit under this chapter;

(5)    "Compilation," a service performed in accordance with Statements on Standards for Accounting and Review Services, which presents in the form of financial statements and information that is the representation of management and does not express any assurance on the statements;

(6)    "Domestic," referring to a jurisdiction of a state;

(7)    "Foreign," referring to a jurisdiction outside of the United States;

(8)    "Home office," the location specified by a client as the address to which a service is directed;

(9)    "License," a certificate issued pursuant to this chapter, a permit issued pursuant to this chapter, or a registration pursuant to this chapter;

(10)    "Licensee," the holder of a certificate or a permit issued pursuant to this chapter;

(11)    "Manager," a manager of a limited liability company;

(12)    "Member," a member of a limited liability company;

(13)    "Owner," a proprietor, partner, officer, shareholder, or member with financial rights in a CPA firm or PA firm;

(14)    "Peer review," a study, appraisal, or review of the professional work of a certificate holder or CPA firm, which performs attest or compilation services, by a qualified person or persons, who hold certificates, and who are not affiliated with the certificate holder or CPA firm being reviewed;

(15)    "Permit," a permit to practice public accountancy issued to a firm pursuant to this chapter or under corresponding provisions of the laws of other states;

(16)    "Practice privilege," the privilege for a person to practice public accountancy;

(17)    "Principal place of business," the office location designated by a licensee for the purpose of practice privilege;

(18)    "Professional," arising out of, or related to, the specialized knowledge or skills associated with certified public accountants or public accountants;

(19)    "Public accountant," a person who holds a public accountant license issued pursuant to provisions of prior law; and

(20)    "State," any state of the United States, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and the Commonwealth of the Northern Mariana Islands.

Source: SL 2002, ch 179, § 2; SL 2009, ch 185, § 1; SL 2013, ch 175, § 1; SL 2026, ch 160, § 1.