(1) A licensee shall comply with the standards set forth in this rule as applicable under the circumstances and at the time of service when providing professional services. In addition to the applicable standards set forth below, a licensee shall comply with the standards issued by other professional or governmental bodies including international standards setting bodies with which a licensee is required by law, regulation, or the terms of engagement to comply.

(2) The board incorporates by reference the following standards, as they exist as of July 1, 2007:

(a) all of the standards promulgated by the Security Exchange Commission (SEC);

(b) all of the standards promulgated by the Public Company Accounting Oversight Board (PCAOB);

(c) all of the auditing standards issued by the American Institute of Certified Public Accountants (AICPA);

(d) all of the standards for accounting and review services issued by AICPA;

(e) all of the Statements on Standards for Attestation Engagements issued by the AICPA;

(f) all of the standards for management consulting services (including the definition of such services) issued by the AICPA;

(g) all of the standards for tax services issued by the AICPA;

(h) all of the standards for accountants' services on prospective financial information issued by the AICPA;

(i) all of the standards for governmental accounting issued by the Government Accounting Standards Board (GASB); and

(j) all of the Statements of Financial Accounting Standards issued by the Financial Accounting Standards Board (FASB).

(3) The standards incorporated by reference are available at the professional resources or publication offices at the respective web sites:

(a) www.sec.gov;

(b) www.pcaob.org;

(c) www.aicpa.org;

(d) www.gasb.org; and

(e) www.fasb.org.