(a)  Nothing contained in this chapter shall be construed as prohibiting any person not a certified public accountant or public accountant from serving as an employee of or an assistant to a licensee; provided, that the employee or assistant shall not issue any accounting or financial statement or report over his or her name.

Terms Used In Rhode Island General Laws 5-3.1-18

  • Attest: means providing the following services:

    (i)  Any audit or other engagement to be performed in accordance with the Statements on Auditing Standards (SAS);

    (ii)  Any review of a financial statement to be performed in accordance with the Statement on Standards for Accounting and Review Services (SSARS);

    (iii)  Any examination of prospective financial information to be performed in accordance with the Statements on Standards for Attestation Engagements (SSAE);

    (iv)  Any engagement to be performed in accordance with the standards of the public company accounting oversight board;

    (v)  Any examination, review, or agreed-upon procedures engagement to be performed in accordance with the SSAE, other than an examination described in subsection (1)(iii); and

    (vi)  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 American Institute of Certified Public Accountants, and the Public Company Accounting Oversight Board. See Rhode Island General Laws 5-3.1-3

  • Board: means the board of accountancy, a public authority created by § 5-3. See Rhode Island General Laws 5-3.1-3
  • Certificate: means a certificate as certified public accountant issued under this chapter or corresponding provisions of prior law, or a corresponding certificate as certified public accountant issued after examination under the law of any other state. See Rhode Island General Laws 5-3.1-3
  • Compilation: means providing a service to be performed in accordance with the Statement on Standards for Accounting and Review Services (SSARS), as adopted by the American Institute of Certified Public Accountants, that is presenting in the form of financial statements, information that is the representation of management without undertaking to express any assurance on the statements. See Rhode Island General Laws 5-3.1-3
  • Entity: includes a general partnership, limited-liability company, limited-liability partnership, corporation, sole proprietor, trust, and joint venture. See Rhode Island General Laws 5-3.1-3
  • Licensee: means the holder of a certificate, authority, or permit issued under this chapter or under the prior laws of this state. See Rhode Island General Laws 5-3.1-3
  • Permit: means a permit to practice public accountancy issued under § 5-3. See Rhode Island General Laws 5-3.1-3
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
  • report: includes any form of language that disclaims an opinion when that 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 any special competence on the part of the person or practice unit issuing that language; and it also includes any other form of language that is conventionally understood to imply that assurance and/or special knowledge or competence. See Rhode Island General Laws 5-3.1-3
  • State: means the states of the United States, the District of Columbia, Puerto Rico, Guam, and the U. See Rhode Island General Laws 5-3.1-3
  • this state: means the state of Rhode Island. See Rhode Island General Laws 5-3.1-3

(b)  Nothing contained in this chapter shall be construed as prohibiting any person who is the holder of a certificate or permit issued by this state or any other state that has not been revoked or suspended by the board or board of accountancy of the other state from assuming or using the designation “certified public accountant” or “CPA” or any other title, designation, words, letters, sign, card, or device tending to indicate that the person is a certified public accountant; provided, that the provisions of this subsection shall not be construed to authorize the use of those designations in connection with the practice of public accounting in this state unless the person using the designations holds a permit to practice issued by the board.

(c)  Nothing contained in this chapter or in any other law of this state shall be construed as prohibiting a licensee or any employee of a licensee from disclosing any information in confidence to other licensees engaged in conducting peer reviews, or any of their employees or agents, in connection with peer reviews that are conducted under the auspices of a recognized professional association or under this chapter.

(d)  Nothing contained in this chapter or in any other law of this state shall be construed as prohibiting a licensee or any employee of a licensee from disclosing any information in confidence to any employee, representative, officer, or committee member of a recognized professional association or to the board or any of its employees or committees in connection with a professional ethics investigation held under the auspices of the professional association or the board.

(e)  The provisions of § 5-3.1-16(f) and (g) do not prohibit any officer, employee, partner, or principal of any entity from affixing his or her signature to any statement or report in reference to the affairs of that entity with any wording designating the position, title, or office that he or she holds in that entity, or from describing himself or herself by the position, title, or office that he or she holds in the entity; nor do those provisions prohibit any act of a public official or a public employee in the performance of his or her duties as a public official or public employee.

(f)  Nothing contained in this chapter shall be construed as prohibiting any person or entity not holding a permit under this chapter from offering or rendering to the public bookkeeping services, including devising and installing systems; recording and presentation of financial information or data; preparing financial statements or similar services; preparation of tax returns; or the furnishing of advice on tax matters; provided, that no person or entity shall perform a report on any attest or compilation services nor shall any person or entity attempt to prepare or prepare a report in any manner having the appearance or import of any attest or compilation report enumerated in this subsection so as to mislead the public.

History of Section.
P.L. 1995, ch. 159, § 2; P.L. 2001, ch. 336, § 1.