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include incidental financial data included in-management advisory services reports to
support recommendations to a client and does not include tax returns and supporting
schedules of tax returns.
(i) “Generally accepted accounting principles” means accounting principles issued by
the applicable nationally or internationally recognized professional standard setting
organization related to individual accounting engagements.
(j) “Generally accepted auditing standards” means the standards of professional
conduct, issued by the applicable nationally or internationally recognized professional
standard setting organization, related to individual audit engagements.
(k) “Individual with practice privileges” means an individual who practices in this state
under section 727a of the code, MCL 339.727a.
(l) “Nano-learning program” means a tutorial program designed to allow a participant
to learn a given content area in a 10-minute period with electronic media and without
interaction with a real-time instructor.
(m) “Out-of-state firm” means a firm that may provide certain services and use the title
“CPA firm” without obtaining a firm license under the conditions in section 728(4) and
(5) of the code, MCL 339.728.
(n) “Professional engagement” means an agreement between a client and an individual
licensee, firm licensee, individual with practice privileges, or out-of-state firm relative to
the performance of professional services.
(o) “Professional services” means any services performed or offered to be performed by
an individual licensee, firm licensee, individual with practice privileges, or out-of-state
firm for a client in the course of the practice of public accounting under section 720 of
the code, MCL 339.720.
(p) “Qualifying hours” means continuing education hours that satisfy part 3 of these
rules.
(2) A term defined in the code has the same meaning when used in these rules.
R 338.5102 Standards of professional practice adopted by reference.
Rule 102. (1) The following standards are approved and adopted by reference:
(a) The standards issued by the American Institute of CPAs (AICPA), 220 Leigh Farm
Road, Durham, North Carolina, 27707, in the publication titled “AICPA Professional
Standards” updated June 15, 2022, and any statements issued as of the effective date of
this rule, which are available at a cost of $289.00 from the institute’s website at
(b) The standards issued by the Public Company Accounting Oversight Board
(PCAOB), 1666 K Street NW, Suite 300, Washington, District of Columbia, 20006, in
the publication titled “PCAOB Standards and Related Rules” 2022 edition, and any
updates issued as of the effective date of this rule, which are available at a cost of
(c) The auditing standards issued by the Government Accountability Office, 441 G
Street, NW, Washington, District of Columbia, 20548, in the publication titled
“Government Auditing Standards” 2018 Revision Technical Update April 2021, which
