California Board of Accountancy

"Officer" and "Director"

CALIFORNIA CODE OF REGULATIONS
TITLE 16. Professional and Vocational Regulations
DIVISION 1. Board of Accountancy Regulations

ARTICLE 9 - Rules of Professional Conduct

§ 56.4. "Officer" and "Director."

The terms "director" and "officer" as defined under Section 5061(c) does not include a director or officer of a nonprofit corporation, or a corporation that together with any affiliates, has 100 or less employees or average annual gross receipts of ten million dollars ($10,000,000) of less over the previous three tax years. The term "average annual gross receipts" means all pecuniary gross receipts (less returns, allowances and interaffiliate transactions), the assignment of such receipts notwithstanding, of a business concern from whatever source derived, as entered or to have been entered on its regular books of account for its most recently completed fiscal year (whether on a cash, accrual, completed contracts, percentage of completion or other commonly recognized and accepted accounting method).


NOTE: Authority cited: Sections 5010, 5018 and 5061, Business and Professions Code. Reference: Section 5061, Business and Professions Code.

 

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