Delaware Administrative Code
Title 24 - Regulated Professions and Occupations
Department of State
Division of Professional Regulation
100 - Board of Accountancy
Section 100-3.0 - Definitions

The following words and terms when used in this regulation have the following meaning:

"AICPA" means American Institute of Certified Public Accountants.

For purposes of the definition of "attest", the Board adopts and incorporates by reference the AICPA's Statements on Auditing Standards ("SAS").

"Audit" means the procedures performed in accordance with applicable auditing standards for the purpose of expressing or disclaiming an opinion on the fairness with which the historical financial information is presented in conformity with generally accepted accounting principles, another comprehensive basis of accounting, or basis of accounting described in the report. This definition does not include "audit" as used in subsections 7.2.2.2 and 9.2.2.2.

"Board" means the Delaware Board of Accountancy.

"CPE" means continuing professional education.

"Financial statements" means statements and footnotes related thereto that undertake to present an actual or anticipated financial position as of a point in time, or results of operations, cash flow, or changes in financial position for a period of time, in conformity with generally accepted accounting principles or another comprehensive basis of accounting. The term does not include incidental financial data included in management advisory service reports to support recommendations to a client; nor does it include tax returns and supporting schedules.

"NASBA" means the National Association of State Boards of Accountancy.