Article 1 Regulation of Certified Public Accountants and Public Accountants
Article 3 Regulation of Accounting Practitioners

Terms Used In South Carolina Code > Title 40 > Chapter 2

  • Administrator: means the individual to whom the director has delegated authority to administer the programs of a specific board or of a professional or occupational group for which the department has regulatory authority or has delegated authority to administer the programs of a specific board;

    (2) "Authorization to practice" or "Practice authorization" means the approval to practice the specified profession, engage in the specified occupation, or use a title protected under this article, which has been granted by the applicable board. See South Carolina Code 40-1-20
  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • AICPA: means the American Institute of Certified Public Accountants or successor organizations. See South Carolina Code 40-2-20
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Attest: means providing the following services:

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

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

    (c) an 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 Public Company Accounting Oversight Board (PCAOB) Auditing Standards; or

    (e) any examination, review, or agreed upon procedure to be performed in accordance with the SSAE, other than an examination described in subitem (c). See South Carolina Code 40-2-20
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Authorized health care provider: means advanced practice registered nurses and physician assistants licensed in South Carolina and authorized to provide specific treatments, care, or services pursuant to their respective practice acts in Title 40. See South Carolina Code 44-22-10
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Board: means the South Carolina Board of Accountancy. See South Carolina Code 40-2-20
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Client: means a person or entity that agrees with a licensee or licensee's employer to receive any professional service. See South Carolina Code 40-2-20
  • Compilation: means providing a service to be performed in accordance with Statements on Standards for Accounting and Review Services (SSARS) in which the objective of the accountant is to apply accounting and financial reporting expertise to assist management in the presentation of financial statements and reports in accordance with this section without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements in order for them to be in accordance with the applicable financial reporting framework. See South Carolina Code 40-2-20
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Court: means probate court. See South Carolina Code 44-22-10
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Department: means the Department of Disabilities and Special Needs. See South Carolina Code 44-21-20
  • Department: means the Department of Labor, Licensing and Regulation. See South Carolina Code 40-2-20
  • Department: means the State Department of Mental Health. See South Carolina Code 44-22-10
  • Dependent: A person dependent for support upon another.
  • Direct: means the person supervised in the usual line of authority or is in a staff position reporting to the supervisor. See South Carolina Code 40-2-20
  • Director: means the Director of the Department of Mental Health. See South Carolina Code 44-22-10
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Experience: means providing any type of service or advice involving the use of accounting, attest, compilation, management advisory, financial advisory, tax, or consulting skills whether gained through employment in government, industry, academia, or public practice. See South Carolina Code 40-2-20
  • Facility: means a residential program operated by the department. See South Carolina Code 44-22-10
  • Family support: means goods and services needed by individuals or families to care for themselves or their family members with intellectual disability or related disabilities or head injuries, spinal cord injuries, or similar disabilities and to enjoy a quality of life comparable to other community members. See South Carolina Code 44-21-20
  • Family Support Program: means a coordinated system of family support services administered by the department directly or through contracts with private nonprofit or governmental agencies across the State, or both. See South Carolina Code 44-21-20
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Firm: includes a person or persons practicing public accounting in the form of a proprietorship, partnership, limited liability partnership, limited liability company, or professional corporation or association. See South Carolina Code 40-2-20
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Habeas corpus: A writ that is usually used to bring a prisoner before the court to determine the legality of his imprisonment. It may also be used to bring a person in custody before the court to give testimony, or to be prosecuted.
  • Home office: means the location specified by the client as the address to which an attest or compilation service is directed. See South Carolina Code 40-2-20
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • License: means authorization to practice as issued under this chapter. See South Carolina Code 40-2-20
  • Licensee: means the holder of a license. See South Carolina Code 40-2-20
  • Major medical treatment: means a medical, surgical, or diagnostic intervention or procedure where a general anesthetic is used or which involves significant invasions of bodily integrity requiring an incision or producing substantial pain, discomfort, debilitation, or having a significant recovery period. See South Carolina Code 44-22-10
  • Manager: means a licensee in responsible charge of an office. See South Carolina Code 40-2-20
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Multi-disciplinary team: means persons drawn from or representing the professional disciplines or service areas included in the treatment plan. See South Carolina Code 44-22-10
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Patient: means an individual undergoing treatment in the department; however, the term does not include a person committed to the department pursuant to Chapter 48 of Title 44. See South Carolina Code 44-22-10
  • Peer review: means a study, appraisal, or review of one or more aspects of the professional work of a licensee of the board or a firm registered with the board that performs attest or compilation services by a person or persons who hold certificates and who are not affiliated with the certificate holder or certified public accountant firm being reviewed. See South Carolina Code 40-2-20
  • Personal property: All property that is not real property.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Practice of accounting: means :

    (a) Issuing a report on financial statements of a person, firm, organization, or governmental unit or offering to render or rendering any attest or compilation service. See South Carolina Code 40-2-20
  • Principal place of business: means the office location designated by the licensee for purposes of substantial equivalency and reciprocity. See South Carolina Code 40-2-20
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probate: Proving a will
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Professional: means arising out of or related to the specialized knowledge or skills associated with licensees. See South Carolina Code 40-2-20
  • Quorum: The number of legislators that must be present to do business.
  • Reasonably available: means that a person to be contacted may be contacted with diligent efforts by the attending physician or another person acting on behalf of the attending physician. See South Carolina Code 44-22-10
  • Registration: means an authorization to practice as a firm issued under this chapter. See South Carolina Code 40-2-20
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • report: includes any form of language which disclaims an opinion when the form of language is conventionally understood to imply positive assurance as to the reliability of the attested information or compiled financial statements referred to or special competency on the part of the person or firm issuing such language, or both; and it includes any other form of language that is conventionally understood to imply such assurance or such special knowledge or competency, or both. See South Carolina Code 40-2-20
  • Resident manager: means a responsible party for a firm. See South Carolina Code 40-2-20
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: means any state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, and Guam; except that "this State" means the State of South Carolina. See South Carolina Code 40-2-20
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Substantial equivalency: is a determination by the Board of Accountancy or its designee that 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 Section 40-2-245(A)(1), or that an individual licensee's education, examination, and experience qualifications are comparable to or exceed the education, examination, and experience requirements contained in Section 40-2-245(A)(2). See South Carolina Code 40-2-20
  • Supervision: means having jurisdiction, oversight, or authority over the practice of accounting and over the people who practice accounting. See South Carolina Code 40-2-20
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Treatment: means the attempted correction or facilitation of a mental illness or alcohol and drug abuse. See South Carolina Code 44-22-10
  • Trustee: A person or institution holding and administering property in trust.
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.