HB 1807 Summary

• Amends 59 O.S. 2011, Section 15.1A to modify definitions under the Oklahoma Accountancy Act

• Updates definition of "Attest" to include four types of financial statement services: audits per SAS, reviews per SSARS, report engagements per SSAE, and engagements per PCAOB standards

• Changes definition of "Report" to clarify that it applies to any attest or compilation service and includes language stating or implying assurance regarding reliability of financial information

• Modifies definition of "Review" to specify it applies to registrants, individuals with practice privileges under Section 15.12A, or exempt firms performing inquiry and analytical procedures

• Becomes effective November 1, 2015