Current through Register Vol. XLI, No. 50, December 13, 2024
Section 1-2-2 - DefinitionsThe following words and phrases as used in these rules shall have the following meanings, unless the context otherwise requires:
2.1. "Act" means W. Va. Code §§ 30-9-1 et seq.2.2. "Authorization" means an authorization issued pursuant to the Act that entitles a permit holder or an individual practitioner to perform attest or compilation services.2.3. "Board" means the West Virginia Board of Accountancy.2.4. "Certificate" means a certificate as a certified public accountant issued or renewed by the Board pursuant to the Act or corresponding provisions of prior law.2.5. "Charged party" means a licensee, substantial equivalency practitioner or firm that has been charged by the Board as described in subsection 3.4 of these rules.2.6. " Demanding party" means an individual or firm that has been denied a license or substantial equivalency practice privilege by the Board and that, as a result, demands that a hearing be held before the Board on the issue of such denial.2.7. "Firm" means any business entity, including an accounting corporation, in which tow or more certified public accountants or public accountants hold an ownership or membership interest, in terms of the financial interests and voting rights of all partners, officers, shareholders, members or managers, and the primary business activity of which is the provision of professional services to the public by certified public accountants or public accountants.2.8. "License" means a certificate, permit, registration or authorization.2.9. "Licensee" means the holder of a license. 2.10. "Permit" means a permit issued to a firm pursuant to the Act.2.11. "Professional services" means those services that involve the specialized knowledge and skills of a certified public accountant or a public accountant.2.12. "Registration" means a registration as a public accountant issued by the Board pursuant to prior law governing the registration of public accountants and renewed by the Board pursuant to the Act.2.13. "Substantial equivalency practice privilege" means the privilege of practicing in this State accorded to a substantial equivalency practitioner.2.14. "Substantial equivalency practitioner" means any individual holding an out-of-state certificate who has notified the Board of his or her intent to practice accountancy in this State under the provisions of the Act and has complied with the provisions of section 16 of the Act.