Section 36-20B-3 - "Report" defined. - South Dakota Statutes

36-20B-3. "Report" defined. For the purposes of this chapter, the term, report, if used with reference to financial statements, means an opinion, report, or other form of language that states or implies assurance as to the reliability of any financial statements or assertion. It 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 and that the service reported upon was performed under standards for such services established by the American Institute of Certified Public Accountants. 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 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 or special competence on the part of the person or firm issuing such language or both; and it includes any other form of language that is conventionally understood to imply such assurance or such special knowledge or competence or both.

Source: SL 2002, ch 179, § 4.