Section 12 AAC 04.990 - DefinitionsIn this chapter
(1) "accountant" means a person who holds (A) a license under AS 08.04.105 or 08.04.195;(B) a permit under AS 08.04.240;(C) an out-of-state practice privilege under AS 08.04.420; or(2) "board" means the Board of Public Accountancy;(3) "department" means the Department of Commerce, Community, and Economic Development;(5) "financial statement" includes a statement of position, a statement of operations, a statement of change in equity and notes, a balance sheet, an income statement, a statement of cash flows, a statement of assets and liabilities, and any other statement that purports to represent a statement of position or operation;(6) "opinion" means a written conclusion, based on the use of expert knowledge in accounting and auditing, in matters for which advice is sought or required;(9) "statement" means a financial statement;(10) "conditional credit" means credit for subjects which the candidate has successfully passed and will not be required to repeat;(11) "attest function" means the financial statement services described in 12 AAC 04.038;(12) "good moral character" means the absence of conduct that would cause a reasonable person to have substantial doubts about an individual's honesty, fairness, and respect for the rights of others and for the laws of this state and the United States, including (B) conduct involving dishonesty, fraud, deceit, or misrepresentation, including misconduct in the licensing application process; and(C) conduct that adversely reflects on the individual's fitness to perform as an accountant or ability to comply with the requirements of AS 08.04 and this chapter;(14) "engagement" means an agreement between a client and a licensee regarding the performance of professional services and the services performed under the agreement;(15) "reasonable cause or excusable neglect" includes(B) military service; and(C) other extenuating circumstances, as found by the board.Eff. 9/9/72, Register 43; am 2/10/78, Register 64; am 8/3/79, Register 70; am 1/27/81, Register 78; am 4/22/83, Register 86; am 11/9/85, Register 96; am 8/18/90, Register 115; am 2/2/94, Register 129; am 1/1/2008, Register 184; readopt 12/25/2015, Register 216, January 2016; am 4/12/2024, Register 250, July 2024Effective 11/9/85, Register 96, 12 AAC 04.290 was renumbered as 12 AAC 04.990. The history note for the renumbered section includes its history before the renumbering.
As of Register 171 (October 2004), the regulations attorney made technical revisions under AS 44.62.125(b)(6) to reflect the name change of the Department of Community and Economic Development to the Department of Commerce, Community, and Economic Development made by ch. 47, SLA 2004 and the corresponding title change of the commissioner of community and economic development.
Effective 12/25/2015, Register 216, the Board of Public Accountancy readopted 12 AAC 04.990, without change, to affirm the validity of that section following statutory amendments to AS 08.04 made in ch. 67, SLA 2010. Section 42, ch. 67, SLA 2010 repealed AS 08.04.085.
Authority:AS 08.04.070
AS 08.04.110
AS 08.04.120
AS 08.04.130
AS 08.04.150
AS 08.04.425
AS 08.04.680