Terms Used In Vermont Statutes > Title 26 > Chapter 1 > Subchapter 1 - General Provisions

• Appraisal: A determination of property value.
• Attest services: means providing the following services:

• Board: means the Board of Public Accountancy. See
• Compilation: means providing a service to be performed in accordance with Statements on Standards for Accounting and Review Services (SSARS) that is presented in the form of financial statements or information that represents management or owners without expressing any type of assurance on the statements. See
• 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.
• Firm: means a sole proprietorship, a corporation, a partnership, association, or any other entity that practices public accountancy. See
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Fraud: Intentional deception resulting in injury to another.
• Loan: means a deposit of property not accompanied by a transfer of title to the property. See
• Magistrate: shall mean any Supreme Court Justice, Superior judge, District judge, or Probate judge. See
• Museum: means an institution operated by a nonprofit corporation or a public agency primarily for educational, scientific, historic preservation, or aesthetic purposes, and the institution owns, cares for, exhibits, studies, collects, archives, or catalogues property. See
• 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.
• Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
• Practice of public accounting: means the performance or the offering to perform by a person or firm holding itself out to the public as being licensed, registered, or otherwise authorized under this chapter, for a client or potential client, of one or more kinds of services involving the use of accounting or auditing skills, including the issuance of reports on financial statements, or of one or more kinds of management advisory, financial advisory, or consulting services, or the preparation of tax returns or the furnishing of advice on tax matters. See
• Property: means a tangible object, animate or inanimate, that has intrinsic, historic, artistic, scientific, or cultural value, and the object is under the care of a museum. See
• Public accountant: means a certified public accountant or a registered public accountant until July 1, 2003, after which the title of registered public accountant will still exist for those licensed as registered public accountants or having received conditional credit toward licensure as a registered public accountant by that date, but will no longer be a title granted by the Board. See
• report: includes any form of language that disclaims an opinion when the form of language is conventionally understood to imply any positive assurance as to the reliability of the attested information or compiled financial statements referred to or special competence on the part of the person or firm issuing the language; and it includes any other form of language that is conventionally understood to imply such assurance or such special knowledge or competence. See
• Sole proprietorship: when used for the specific purpose of describing the fee category applicable to a firm under this chapter, means a firm that employs only one certified public accountant. See
• State: includes the states of the United States, the District of Columbia, Puerto Rico, Guam, the U. See