Section 628.500 - Adoption by reference of Code of Professional Conduct ; exceptions1. The Board hereby adopts by reference the Code of Professional Conduct adopted by the American Institute of Certified Public Accountants, with the following exceptions: (a) References to "member" are amended to refer to "practitioner."(b) The definition of "financial statements" in paragraph. 17 of section 0.400 is amended to read as follows: (1) "Financial statements" means: (I) Any statements or footnotes related thereto that purport to demonstrate the financial condition of a person at a particular time or the change in a person's financial condition during a particular period; or(II) Any statements prepared using a cash or other comprehensive basis of accounting.(2) The term includes balance sheets, statements of income, statements of retained earnings, statements of cash flows and statements of changes in equity.(3) The term does not include incidental financial data that is included in reports concerning advisory services for management made to support recommendations to a client, tax returns or schedules in support of a tax return, or the statement, affidavit or signature of the person who prepares a tax return.(c) The definition of "public practice" in paragraph .42 of section 0.400 is amended to have the meaning ascribed to the definition of "practice of public accounting" in NRS 628.023.(d) The disclosure required pursuant to paragraph .03 of section 1.520.001 must: (1) Include the amount of the commission expressed in dollars or the method, described in plain language, used to calculate the commission;(2) Include the name of the person or entity paying the commission;(4) Be made on or before the date of referral or recommendation; and(e) The statement, affidavit or signature of the preparer of a tax return does not constitute an opinion on a financial statement, and the preparer of the tax return is not required to make a disclaimer of such an opinion.(f) The Board does not adopt by reference pursuant to this section Appendix B of the Code of Professional Conduct.2. A copy of the Code of Professional Conduct may be obtained from the American Institute of Certified Public Accountants at its Internet website, http://pub.aicpa.org/codeofconduct, free of charge. 3. The Board will periodically review the standards adopted by reference in this section and determine within 30 days after the review whether any change made to the standards is appropriate for application in this State. If the Board does not disapprove a change to the standards within 30 days after the review, the change is deemed to be approved by the Board.Nev. Admin. Code § 628.500
Added to NAC by Bd. of Accountancy, eff. 12-13-96; A by R169-99, 12-13-99; R094-01, 10-17-2001; R056-05, 11-17-2005; R046-13, 12-23-2013; A by R117-15, eff. 4/4/2016