SECTION 807.31. Definitions Relating to Financial Requirements

The following words and terms, when used in this subchapter, shall have the following meanings unless the context clearly indicates otherwise.

(1) Attest services--An audit, review, compilation, or other assurance engagement that must be performed in accordance with standards promulgated by the American Institute of Certified Public Accountants or other Commission-recognized accountancy organization.

(2) GAAP--Generally Accepted Accounting Principles.

(3) GAAS--Generally Accepted Auditing Standards.

(4) Sworn statement--A notarized statement including the following language: "I swear or affirm that the information in these statements is true and correct to the best of my knowledge."

(5) Unearned tuition affidavit--A statement of the highest amount of unearned tuition at any time during the most recent fiscal year and the gross amount minus refunds of student tuition and fees earned during the fiscal year in all courses approved under the Act.

Source Note: The provisions of this §807.31 adopted to be effective August 16, 1998, 23 TexReg 8479; amended to be effective April 26, 2004, 29 TexReg 3970; amended to be effective November 28, 2022, 47 TexReg 7914