Rules & Regulations of the State of Tennessee
Title 0020 - Accountancy
Chapter 0020-04 - Disciplinary Action and Civil Penalties
Section 0020-04-.06 - SAFE HARBOR LANGUAGE
Universal Citation: TN Comp Rules and Regs 0020-04-.06
Current through September 24, 2024
(1) Non-licensees shall use the following or similar disclaimer language in connection with financial statements to not be in violation of the Act:
(a) "I (we) have prepared the accompanying
(financial statements) of (name of entity) as of (time period) for the (period)
then ended. This presentation is limited to preparing in the form of financial
statements information that is the representation of management
(owners)."
(b) "I (we) have not
audited, reviewed or compiled, under professional standards prescribed for such
services, the accompanying financial statements and accordingly do not express
an opinion or any other form of assurance on them. I (we) am (are) not licensed
by this state, as a certified public accountant, public accountant or
accounting firm, to provide those types of services."
(2) The use of standard language in any report as defined by Tenn. Code Ann. § 62-1-103, by any non-licensed individual or non-permitted accounting firm, even if the verbiage is slightly altered, will be considered to be a violation of Tenn. Code Ann. § 62-1-113(h)(1).
Authority: T.C.A. §§ 62-1-105;62-1-108(c); 62-1-109(c);62-1-111(a)(9); 62-1-111(2); 62-1-113(h)(1) and 62-1-117.
Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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