<html> <head> <title>Rule 20:75:05:01 Independence.</title> <META NAME="Keywords" Content="Administrative Rules 20:75:05:01"> <META NAME="Description" Content="Administrative Rules 20:75:05:01 Independence."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Generator content="Microsoft Word 15 (filtered)"> <style> <!-- /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; text-align:justify; font-size:12.0pt; font-family:"Times New Roman",serif;} a:link, span.MsoHyperlink {color:blue; text-decoration:underline;} a:visited, span.MsoHyperlinkFollowed {color:purple; text-decoration:underline;} .MsoChpDefault {font-size:10.0pt;} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US link=blue vlink=purple> <div class=WordSection1> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:75:05:01.&nbsp;&nbsp;Independence.</b> A licensee shall comply with Section ET 1.200 of the American Institute of Certified Public Accountants, and with the independence rules of the United States Securities and Exchange Commission, United States Department of Labor, Public Company Accounting Oversight Board and United States Government Accountability Office&nbsp; applicable to the licensees' engagement.</p> <p class=MsoNormal>&nbsp;</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 29 SDR 16, effective August 14, 2002; 30 SDR 119, effective February 9, 2004; 33 SDR 107, effective December 26, 2006; 35 SDR 165, effective December 22, 2008; 35 SDR 305, effective July 1, 2009; 36 SDR 216, effective July 6, 2010; 39 SDR 33, effective September 5, 2012; 39 SDR 219, effective June 24, 2013; 41 SDR 111, effective January 19, 2015; 45 SDR 84, effective December 20, 2018; 46 SDR 153, effective July 9, 2020.</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-20B-12">36-20B-12(4).</A></p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=36-20B-12">36-20B-12(4).</A></p> <p class=MsoNormal>&nbsp;</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>References:</b> <b>AICPA Professional Standards</b>, <b>Volume 2</b>, <b>ET Section 1.200</b>, as of July 1, 2019, American Institute of Certified Public Accountants. Copies may be viewed at the board's office or obtained from the American Institute of Certified Public Accountants, 1211 Avenue of the Americas, New York, NY 10036. Cost: Annual Online Subscription, Member $199/Non-Member $249.</p> <p class=MsoNormal>&nbsp;</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Government Auditing Standards</b>, by the United States Government Accountability Office December 2011 Revision, or July 2018 Revision, as applicable. Copies may be viewed at the board's office or obtained from the United States Government Accountability Office, Washington, D.C. 20548; or from their website at <a href="http://www.gao.gov/yellowbook">www.gao.gov/yellowbook</a>. Cost: first document free, each additional copy $2.</p> <p class=MsoNormal>&nbsp;</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>United States Department of Labor</b>: 29 CFR &#167;2509.75-9 (July 1, 2016). Available online at: <a href="https://www.gpo.gov/fdsys/pkg/CFR-2016-title29-fol9/pdf/CFR-2016-title29-vol9-sec2509-75-9.pdf">https://www.gpo.gov/fdsys/pkg/CFR-2016-title29-vol9/pdf/CFR-2016-title29-vol9-sec2509-75-9.pdf</a> .</p> <p class=MsoNormal>&nbsp;</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Public Company Accounting Oversight Board</b>: &nbsp;Rules Section 3, Auditing and Related Professional Practice Standards (May 2, 2014). Available online at:</p> <p class=MsoNormal><a href="http://pcaobus.org/Rules/PCAOBRules/Pages/Section_3.aspx">http://pcaobus.org/Rules/PCAOBRules/Pages/Section_3.aspx</a>.</p> <p class=MsoNormal>&nbsp;</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>United States Securities and Exchange Commission</b>: &nbsp;68 FR 6005 (February 5, 2003). Available online at: <a href="http://www.sec.gov/rules/final/33-8183.htm">https://www.sec.gov/rules/final/33-8183a.htm</a>.</p> <p class=MsoNormal>&nbsp;</p> </div> </body> </html>