For purposes of these rules the following terms have the meanings indicated:

(1) "Certificate holder" means a person holding a CPA certificate issued by the board pursuant to 37-50-302, MCA.

(2) "Client" means the person, entity, or enterprise whether organized for profit or not, which retains a permit holder for the performance of professional services. A client may be an entity served by governmental or nongovernmental agencies performing services similar to public accounting firms.

(3) "Financial statement" means a presentation of financial data, derived from accounting records and intended to communicate an entity's economic resources or obligations at a point in time, or the changes therein for a period of time. Financial presentations included in tax returns are not financial statements for purposes of this definition. Financial statements include but are not limited to the following:

(a) balance sheet;

(b) statement of income;

(c) statement of retained earnings;

(d) statement of changes in owners' equity;

(e) financial forecasts, projections, and similar presentations;

(f) statement of assets and liabilities (with or without owners' equity accounts);

(g) statement of revenue and expenses;

(h) summary of operations;

(i) statement of operations by product lines;

(j) statement of cash receipts and disbursements; and

(k) statement of cash flows.

(4) "Firm" means a proprietorship, partnership, or professional corporation engaged in the practice of public accounting.

(5) "Licensee" means a certificate, license, or permit holder.

(6) "License holder" means a person holding a license issued by the board pursuant to 37-50-303, MCA.

(7) "NASBA" means the National Association of State Boards of Accountancy.

(8) "Permit holder" means a person holding an annual permit to practice public accounting issued by the board pursuant to 37-50-314, MCA.

(9) "Professional services" means any services performed or offered to be performed by a permit holder for a client in the course of the practice of public accountancy.

(10) "Report" (when used with reference to financial statements) means an opinion, report, or other form of language which states or implies assurance as to the reliability of any financial statements (examples include audits, reviews, and compilations) and which also includes or is accompanied by any statement or implication that the person or firm issuing it has special knowledge or competence in accounting or auditing. Such a statement or implication of special knowledge or competence may arise from use by the issuer of the report of names or titles indicating that the person or the firm is an accountant or auditor, or from the language of the report itself. The term "report" includes any form of language which disclaims an opinion when such form of language is conventionally understood to imply any positive assurance as to the reliability of the financial statements referred to and/or special competence on the part of the person or firm issuing such language; and it includes any other form of language that is conventionally understood to imply such assurance and/or such special knowledge or competence.