Terms Used In South Carolina Code > Title 44 > Chapter 13
- 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.
- Appraisal: A determination of property value.
- Arrest: Taking physical custody of a person by lawful authority.
- 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
- Board: means the South Carolina Board of Accountancy. See South Carolina Code 40-2-20
- 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
- Commission: means the group of individuals charged by law with the responsibility of licensing or otherwise regulating an occupation or profession within the State. See South Carolina Code 40-1-20
- 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.
- 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.
- Department: means the Department of Labor, Licensing and Regulation. See South Carolina Code 40-2-20
- 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
- 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.
- 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
- 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
- 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.
- 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
- 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.
- 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
- Manager: means a licensee in responsible charge of an office. See South Carolina Code 40-2-20
- Oath: A promise to tell the truth.
- 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.
- 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
- 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
- Probate: Proving a will
- 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.
- Registration: means an authorization to practice as a firm issued under this chapter. See South Carolina Code 40-2-20
- 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.
- 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.
- 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
- 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.
- Trustee: A person or institution holding and administering property in trust.