South Dakota Administrative Code

Rule 20:75:03:05 Ethics examination. 20:75:03:05. Ethics examination. The ethics examination requirement of SDCL 36-20B-16 is satisfied by verification of successful completion of the self-study course of the American Institute of Certified Public Accountants entitled Professiona…

Rule 20:75:03:06 Denial of certificate. 20:75:03:06. Denial of certificate. An applicant denied a certificate shall be notified in writing by the board of such denial and the reasons for the denial. Such applicant may request an appearance before the board to reconsider the denia…

Rule 20:75:03:07 Display of certificate. 20:75:03:07. Display of certificate. Repealed. Source: 29 SDR 16, effective August 14, 2002; repealed, 35 SDR 305, effective July 1, 2009.

20:75:03:08. Application for firm permit -- Replacement -- Fees. In order to obtain an initial permit, a firm required to hold a permit pursuant to SDCL 36-20B-32.1 shall: (1) Apply to the board on a form provided by the board and containing the following: (a) The name of the fir…

20:75:03:08.01. Firm permit renewal -- Fees. In order to renew the permit, a firm required to hold a permit pursuant to SDCL 36-20B-32.1 shall: (1) Apply to the board on a form provided by the board and containing the following: (a) The name of the firm; (b) Whether the firm is a…

Rule 20:75:03:09 Display of firm permit. 20:75:03:09. Display of firm permit. Repealed. Source: 29 SDR 16, effective August 14, 2002; repealed, 35 SDR 305, effective July 1, 2009.

Rule 20:75:03:10 Notification of firm changes. 20:75:03:10. Notification of firm changes. Any firm holding a permit pursuant to SDCL 36-20B-32 to 36-20B-34, inclusive, shall file with the board a written notification of any of the following events within 30 days after its occurre…

20:75:03:11. Definitions. Terms used in reference to annual requirements of certificate holders performing public accountancy and not performing public accountancy mean: (1) "Active certificate," a Certified Public Accountant or Public Accountant certificate issued by this state …

20:75:03:12. Renewal of a South Dakota active certificate -- Fees. An applicant who performs accounting or auditing services for the public as described in SDCL 36-20B-27, shall renew the certificate as an active certificate, as defined by § 20:75:03:11. An application for renewa…

20:75:03:13. Renewal of a South Dakota inactive certificate -- Fees. A person holding a valid certificate issued by this state prior to July 1, 2002, is deemed to have met the experience requirements for licensure under SDCL 36-20B-21. Any certificate holder who does not perform …

Rule 20:75:03:14 Repealed. 20:75:03:14. Non-resident -- Notification -- Fees. Repealed. Source: 29 SDR 16, effective August 14, 2002; 30 SDR 119, effective February 9, 2004; 35 SDR 165, effective December 22, 2008; repealed, 35 SDR 305, effective July 1, 2009.

20:75:03:15. Issuance of certificate to applicant licensed by another state. An applicant for issuance or renewal of a reciprocal license pursuant to SDCL 36-20B-26 shall, in the application, list any state in which the applicant has applied for, or holds, a certificate, license,…

20:75:03:16. Registration of a retired certificate -- Fees. A holder of a South Dakota certificate who no longer practices any form of accounting governed under SDCL chapter 36-20B may register the certificate under a retired status. To be eligible for registration under the reti…

Rule 20:75:04:00 Definitions. 20:75:04:00. Definitions. Terms used in this chapter mean: (1) "Advanced," learning activity level that describes programs most useful for individuals with mastery of the particular topic. This level focuses on the development of in-depth knowledge, …

Rule 20:75:04:01 Standards for continuing professional education program measurement. 20:75:04:01. Standards for continuing professional education program measurement. The following standards are used to measure the hours of continuing professional education credit: (1) Fifty min…

Rule 20:75:04:02 General continuing professional education program criteria. 20:75:04:02. General continuing professional education program criteria. To qualify as acceptable continuing professional education, a program must be a learning activity that contributes directly to the…

Rule 20:75:04:03 Continuing professional education group program criteria. 20:75:04:03. Continuing professional education group program criteria. A group program qualifies as acceptable continuing professional education if it meets the general criterion in § 20:75:04:02 and meets…

Rule 20:75:04:04 Acceptable continuing professional education group programs. 20:75:04:04. Acceptable continuing professional education group programs. Group programs which qualify as acceptable continuing professional education programs if they meet the requirements of §§ 20:75:…

Rule 20:75:04:05 Non-group continuing professional education program criteria. 20:75:04:05. Non-group continuing professional education program criteria. Non-group continuing professional education program criteria. The non-group programs qualify as acceptable continuing professi…

Rule 20:75:04:06 Restriction on continuing professional education credits for college employees. 20:75:04:06. Restriction on continuing professional education credits for college employees. An individual employed by a college or university may not claim continuing professional ed…

Rule 20:75:04:07 Initial active certificate holders. 20:75:04:07. Initial active certificate holders. An individual certificate holder whose initial certificate was issued less than three years before the renewal date shall fulfill the following minimum requirements of continuing…

Rule 20:75:04:08 Returning active certificate holders. 20:75:04:08. Returning active certificate holders. An applicant for renewal of an individual certificate, in active status whose most recent active certificate has lapsed over 12 months before the application for renewal is s…

Rule 20:75:04:09 Limitation on continuing professional education credits. 20:75:04:09. Limitation on continuing professional education credits. No more than 24 hours of credit for behavioral or motivational courses is allowed in a three-year renewal period for those individuals e…

Rule 20:75:04:10 Extension for completion of continuing professional education. 20:75:04:10. Extension for completion of continuing professional education. Upon request by an applicant for renewal of a certificate, the board may administratively grant one extension of 90 days to …

Rule 20:75:04:11 Review of continuing professional education credits. 20:75:04:11. Review of continuing professional education credits. Certificate holders are subject to verification of all continuing professional education credits submitted to the board. Annually, the board may…

Rule 20:75:04:12 Continuing professional education requirement for nonresident certificate holder. 20:75:04:12. Continuing professional education requirement for nonresident certificate holder. The continuing professional education requirement of a nonresident individual certific…

Rule 20:75:04:13 Repealed. 20:75:04:13. Criteria for independent study Repealed. Source: 31 SDR 97, adopted December 17, 2004, effective July 1, 2005; 45 SDR 84, effective December 20, 2018; effective July 1, 2019.

Rule 20:75:04:14 Documentation required by CPA or PA. 20:75:04:14. Documentation required by CPA or PA. A CPA or PA engaged in sponsored learning activities may claim credit only for activities through which the CPA's or PA's competencies were maintained or improved. A CPA or PA …

Rule 20:75:04:15 Documentation for continuing professional education credit. 20:75:04:15. Documentation for continuing professional education credit. A CPA or PA must document the credit claimed with the following acceptable evidence of completion: (1) For group programs, a certi…

Rule 20:75:04:16 Standards for continuing professional education group program sponsors. 20:75:04:16. Standards for continuing professional education group program sponsors. Continuing professional education program sponsors must provide descriptive materials that enable a CPA or…

Rule 20:75:04:17 Repealed. 20:75:04:17. Standards for continuing professional education program sponsors of independent-study learning activities. Repealed. Source: 31 SDR 97, adopted December 17, 2004, effective July 1, 2005; 45 SDR 84, effective December 20, 2018; effective Jul…

Rule 20:75:04:18 Repealed. 20:75:04:18. Standards for continuing professional education program sponsors of self-study programs. Repealed. Source: 31 SDR 97, adopted December 17, 2004, effective July 1, 2005; 41 SDR 111, effective January 19, 2015; 45 SDR 84, effective December 2…

Rule 20:75:04:19 Evaluating learning activity quality. 20:75:04:19. Evaluating learning activity quality. Continuing professional education program sponsors must have an effective means for evaluating learning activity quality as to content and presentation. A program sponsor mus…

Rule 20:75:04:20 Standards for continuing professional education program reporting. 20:75:04:20. Standards for continuing professional education program reporting. A program sponsor must provide each CPA or PA participating in the program with documentation of participation, whic…

Rule 20:75:04:21 Continuing professional education program sponsors retention of adequate documentation. 20:75:04:21. Continuing professional education program sponsors retention of adequate documentation. A program sponsor must retain or have access to documentation for four yea…

Rule 20:75:04:22 Repealed. 20:75:04:22. Continuing professional education program developer's criteria for retention of pilot test records. Repealed. Source: 31 SDR 97, adopted December 17, 2004, effective July 1, 2005; 45 SDR 84, effective December 20, 2018; effective July 1, 20…

Rule 20:75:05:00 Licensee definition. 20:75:05:00. Licensee definition. A licensee for the purpose of this chapter is as defined in SDCL 36-20B-1 or an individual exercising practice privileges pursuant to SDCL 36-20B-66 or 36-20B-67. Source: 35 SDR 305, effective July 1, 2009. G…

Rule 20:75:05:01 Independence. 20:75:05:01. Independence. A licensee shall comply with Section ET 1.200 of the American Institute of Certified Public Accountants, and with the independence rules of the United States Securities and Exchange Commission, United States Department of …

Rule 20:75:05:02 Integrity and objectivity -- Conflict of interest. 20:75:05:02. Integrity and objectivity -- Conflict of interest. A licensee may not in the performance of professional services knowingly misrepresent facts or subordinate the licensee's judgment to others. In tax…

Rule 20:75:05:03 Acceptance of commission or contingent fee. 20:75:05:03. Acceptance of commission or contingent fee. A licensee in public practice may not perform any professional services for a commission or contingent fee for, or receive such a commission or fee from, a client…

Rule 20:75:05:04 Competence. 20:75:05:04. Competence. A licensee shall comply with the following standards and with any interpretations thereof by bodies designated by the Council of the American Institute of Certified Public Accountants, or by other entities having similar gener…

Rule 20:75:05:05 Auditing, accounting, and review standards. 20:75:05:05. Auditing, accounting, and review standards. A licensee may not permit the licensee's name to be associated with a report on financial statements as defined by SDCL 36-20B-3 unless the licensee complied with…

Rule 20:75:05:06 Accounting principles. 20:75:05:06. Accounting principles. If financial statements or other financial data contain any departure from an accounting principle promulgated by the Financial Accounting Standards Board and its predecessors, the Governmental Accounting…

Rule 20:75:05:07 Professional standards and conduct. 20:75:05:07. Professional standards and conduct. A licensee shall comply with professional ethical standards and conduct. Professional standards and conduct are those set forth in the AICPA Professional Standards, Volume 2, ET …

Rule 20:75:05:08 Interpretations. 20:75:05:08. Interpretations. In the interpretation and application of this chapter, the board shall consider interpretations of similar rules issued by the American Institute of Certified Public Accountants. Source: 29 SDR 16, effective August 1…

Rule 20:75:05:09 Confidential client information. 20:75:05:09. Confidential client information. A licensee may not without the consent of the client disclose any confidential information pertaining to the client obtained in the course of performing professional services. This rul…

Rule 20:75:05:10 Client records. 20:75:05:10. Client records. Terms used in this section are as follows: (1) Client-provided records are accounting or other records belonging to the client that were provided to the licensee on behalf of the client; (2) Client records prepared by …