Full text of Utah Utah Code § 2a-102 — Definitions., with citation guidance and answers to common questions.
§ 2a-102. Definitions.
Effective 5/3/2023 51-2a-102.
Definitions. As used in this chapter:
(1)
"Accounting reports" means an audit, a review, a compilation, or a fiscal report.
(2)
"Audit" means an examination that:
(a)
is performed in accordance with generally accepted government auditing standards, or for a nonprofit corporation or a governmental nonprofit corporation, in accordance with generally accepted auditing standards; and
(b)
conforms to the uniform classification of accounts established or approved by the state auditor or any other classification of accounts established by any federal government agency.
(3)
"Audit report" means:
(a)
the financial statements presented in conformity with generally accepted accounting principles;
(b)
the auditor's opinion on the financial statements;
(c)
a statement by the auditor expressing positive assurance of compliance with state fiscal laws identified by the state auditor;
(d)
a copy of the auditor's letter to management that identifies any material weakness in internal controls discovered by the auditor and other financial issues related to the expenditure of funds received from federal, state, or local governments to be considered by management; and
(e)
management's response to the specific recommendations.
(4)
"Compilation" means information presented in the form of financial statements presented in conformity with generally accepted accounting principles that are the representation of management without the accountant undertaking to express any assurances on the statements.
(5)
"Fiscal report" means providing information detailing revenues and expenditures of all funds in a format prescribed by the state auditor.
(6)
"Governing board" means:
(a)
the governing board of each political subdivision;
(b)
the governing board of each interlocal organization having the power to tax or to expend public funds;
the board of directors of any nonprofit corporation that receives an amount of money requiring an accounting report under Section 51-2a-201.5;
(g)
the governing board, as that term is defined in Section 11-13a-102, of a governmental nonprofit corporation;
(h)
the governing board of any other entity established by a local governmental unit that receives tax exempt status for bonding or taxing purposes; and
(i)
in municipalities organized under an optional form of municipal government, the municipal legislative body.
(7)
"Governmental nonprofit corporation" means the same as that term is defined in Section 11-13a-102.
(8)
"Nonprofit corporation" does not include a governmental nonprofit corporation.
(9)
"Review" means performing inquiry and analytical procedures that provide the accountant with a reasonable basis for expressing limited assurance that there are no material modifications that should be made to the financial statements for them to be in conformity with generally accepted accounting principles.
Section 2a-102 ("Definitions.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 2a-102?
A common citation format is "Utah Code § 2a-102" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 2a-102 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
