Chapter 1
General Provisions
Section 1. Authority. The Wyoming Board of Certified Public Accountants hereby adopts and promulgates the following rules and regulations as authorized by Wyoming Statute 33-3-108(a) and W.S. 16-3-103(j)(ii).
Section 2. Definitions. Unless otherwise stated or required by the context, the definitions set forth in this section shall apply to the construction and interpretation of any rules, regulation, interpretations and statements of reason adopted by the Board.
(a) "Active Status" means the status required when a certificate holder performs any service as defined at W.S. 33-3-109(c) for an employer, another person, or an entity not wholly owned by the certificate holder with or without compensation.
(b) "Advertise" means any written or graphic statement made in any manner that is used to advise, announce, apprise, command, give notice of, inform or make known that services are offered or available. It may include but is not limited to statements and representations made in a newspaper or other publication, radio or television, or any other notice, handbill, sign, catalog, letter, electronic media, or printed document that indicates services are offered or available.
(c) "Agreed-Upon Procedure" means a professional service whereby a holder is engaged to issue a written finding that:
(i)Is based on specific procedures that the specified parties agree are sufficient for their purposes;
(ii)Is restricted to the specified parties; and
(iii)Does not provide an opinion or negative assurance.
(d) "AICPA" or "Institute" means the American Institute of Certified Public Accountants or successor organizations.
(e) "Audit" means a professional service whereby the holder is engaged to examine financial statements, items, accounts, or elements of a financial statement, prepared by management, in order for an opinion to be expressed on financial statements, items, accounts, or elements as to whether the financial statements are presented in conformity with generally accepted accounting principles or other comprehensive basis of accounting or a performance audit performed in compliance with the Government Auditing Standards as referenced in chapter 6, section 3(b) of these rules.
(f) "Certified Public Accountant" or "CPA" is a person holding a certified public accountant certificate issued pursuant to W.S. 33-3-109, W.S. 33-3-115 or W.S. 33-3-116 or that has not been suspended, revoked, surrendered, or expired or a person who holds a certificate based on meeting the substantial equivalency standards and availing himself of practice privileges.
(g) "Client" is any person or organization other than the holder's employer that engages a certificate or permit holder to perform professional services.
(h) "Commission" is a fee, received or paid by others, that is calculated as a percentage of the total sale or service.
(i)"Contingent Fee" is a fee established for performing any service pursuant to an arrangement in which no fee will be charged unless a specified finding or result is attained, or in which the amount of the fee is otherwise dependent upon the finding or result of such service.
(j)"Designated Certificate Holder (DCH)" is the individual certificate holder responsible for registering the CPA firm and providing all CPA firm and office notifications required under W.S. 33-3-118 and W.S. 33-3-119, as well as other notifications required by these rules.
(k)"Financial Statements" means statements and related footnotes that present an actual or anticipated financial position as of a point in time, or results of operations, cash flow, or changes in financial position for a period of time in conformity with generally accepted accounting principles or another comprehensive basis of accounting. The term does not include incidental financial data included in management advisory services reports to support recommendations to a client, nor does it include tax returns and supporting schedules.
(l)"Foreign" means any place outside the United States or its territories.
(m)"Holder" is a person who has been issued a CPA certificate by the Board pursuant to W.S. 33-3-109, W.S. 33-3-115 or W.S. 33-3-116 and chapter 3 of these rules, a CPA firm that has been issued a permit pursuant to W.S. 33-3-118, W.S. 33-3-120, and chapter 4 of these rules or a person or firm availing himself or itself of practice privileges.
(n)"Holding Out" means any action initiated by a holder which states or implies he is skilled in the practice of accounting, or any action that informs others of the CPA status. Any action includes but is not limited to any oral or written representation to another regarding accounting skills or the CPA status, using a CPA designation on business cards or letterhead, displaying a certificate, or reference to any of the AICPA professional standards or any of the standards established in chapter 6, section 3 of these rules.
(o)"Inactive Status" means the status available when a holder does not perform any service as defined in W.S. 33-3-109(c) for an employer, another person, or an entity not wholly owned by the certificate holder, with or without compensation.
(p)"Licensee" means "holder" whether licensed in this State or as defined in section 2(m) of this chapter.
(q)"NASBA" means National Association of State Boards of Accountancy.
(r)"Office" means any location within the State of Wyoming where the practice of public accounting is performed by certificate holders as a CPA firm.
(s)"Organization" is a corporation, partnership, limited liability company, sole proprietorship, association, business trust, estate, trust, two or more persons having a joint or common interest, or any other legal or commercial entity.
(t)"Original Certificate" means the certificate issued to an individual as a result of passing the Uniform CPA examination and meeting the requirements as set forth in W.S. 33-3-109(a) and chapter 3, section 2 of these rules.
(u)"Peer Review" means a review under a practice monitoring program as approved by the Board such as the programs sponsored by the AICPA.
(v)"Practice Privilege" means the ability to practice as a certificate or permit holder in Wyoming without obtaining a Wyoming certificate based on meeting the criteria established in W.S. 33-3-116(a) and chapter 10 of these rules or a permit based on W.S. 33-3-118(b)(xiv).
(w)"Professional Services" are any services performed or offered to be performed by a holder in the practice of public accounting.
(x)"Reciprocal Certificate" means a certificate issued to an individual based on a certificate issued in another jurisdiction.
(y)"Referral Fee" is a fee paid by a holder to any person in return for recommending or referring any service of a holder to any person.
(z)"Registrant" means any certificate holder, permit holder or person or firm availing himself or itself of practice privileges under the provisions of the certified public accountants' act and these rules.
(aa)"Report" when 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 a financial statement and that also includes or is accompanied by any statement or implication that the person or CPA firm issuing it has special knowledge or competence in accounting or auditing. Such a statement or implication of special knowledge or competence may arise from the use by the issuer of the report of names or titles indicating that the person or CPA firm is a certified public accountant or auditor, or from the use of language in the report itself. The term "report" includes any form of language that disclaims an opinion when the 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 CPA firm issuing such language; and it includes any other language that is conventionally understood to imply an assurance or other special knowledge or competence.
(bb)"Retired Status" means the status available when a certificate holder has reached the age of sixty-five (65) or is disabled and no longer performs any service for compensation as defined in W.S. 33-3-109(c) for an employer, another person, or an entity not wholly owned by the certificate holder.
(cc)"Review" means a professional service as defined in the Statement on Standards for Accounting and Review Services as set forth in chapter 6, section 3(d) of these rules.
(dd)"Sole Proprietorship" means a certificate holder performs accounting services as defined in W.S. 33-3-109(c) for any person or organization other than his employer, himself, or an entity wholly owned by himself, and the certificate holder is compensated for services provided.
(ee)"Surrendered Status" means the certificate or affidavit of lost certificate has been returned to the Board's office. A person who surrenders a certificate is no longer a Wyoming CPA.
(ff)"Work papers" means the holders' records of procedures applied, the tests performed, the information obtained, and the conclusions reached in attest services, tax, consulting, special report, or other engagements. Work papers include, but are not limited to, work programs used to perform professional services, analyses, memoranda, letters of confirmation and representation, checklists, copies or abstracts of company documents, and schedules of commentaries prepared or obtained by the holder. The forms include, but are not limited to, handwritten, typed, printed, word processed, photocopied, photographed, computerized data, or any other form of letters, words, pictures, sounds or symbols.
Section 3.Chairman. The chairman of the Board shall preside at all meetings and perform other duties as the Board may direct. In the absence of the chairman, the Secretary shall perform the duties of the chairman.
Section 4.Secretary. In addition to duties pursuant to W.S. 33-3-104, the Board Secretary shall maintain, or direct the staff to maintain, a record of the transactions and business of the Board. The record shall include a record of any certificates and permits issued and any fees received.
Section 5. Meetings.
(a)The Board shall by resolution establish regular meetings at the Board's office or other location as identified in public notices issued by the Board office. Additional meetings and conference call meetings may be scheduled as determined by the Board. All meetings shall be scheduled and conducted in compliance with W.S. 16-4-401 et seq.
(b)The elected Board officers shall assume the duties of their respective offices at the conclusion of the meeting at which they were elected. Board officers shall serve a term of one year and shall be eligible for reelection.
Section 6.Appointment of Committees. The Board may appoint committees to facilitate the performance of its duties. Committee appointments may be "standing" or "ad hoc" as necessary to address complaint investigations, conduct peer review oversight, review rules and make recommendations to the Board for rules promulgation, review applications, or other matters as determined by the Board.
Section 7.Delegation of Temporary Licensure Authority. The Board may delegate the authority to issue temporary certificates and firm permits to Board members, Application Review Committees, or Board staff. Temporary certificates and firm permits issued under this section shall be valid for no longer than 120 days or until formal Board action to ratify issuance has been taken to render final Board approval.
Section 8.Records Retention. The Board shall comply with records retention schedules set forth by the State of Wyoming.
Section 9.Language of Record. The Board shall provide examinations, applications, correspondence, and all other documents in the English language only. Requests for assistance with foreign language impediments will be considered on a case-by-case basis. If provided, any and all costs associated with examinations, interpreters, or other aids will be borne solely by the applicant.
Section 10.Change of Name, Address, or Employment.
(a)All certificate holders and DCHs shall notify the Board of any changes in name, address, email address, telephone number, or employment within sixty (60) days of the change.
(b)Any notification from the Board required or permitted under the certified public accountants' act sent to the certificate holder, permit holder, or DCH shall be sent to the last known name and address or e-mail address provided to the Board by the holder and shall be deemed proper service on the holder.
Section 11.Change in Form, Ownership, Scope of Practice or CPA firm Name.
(a)The DCH shall notify the Board as follows:
(i)Within sixty (60) days of any changes in scope of services which affect the scheduling or timing of peer reviews;
(ii)Within sixty (60) days of the termination or transfer of a sole proprietorship, the admission or withdrawal of a partner, shareholder, member, or non-certificate holder from any permitted CPA firm.
(iii)Within sixty (60) days of the admission or withdrawal of any certificate holder acting as a resident manager of any office or any change in the certificate holder designated to represent the firm;
(iv)Within sixty (60) days of any CPA firm name change accompanied by amended articles of incorporation or articles of organization.
Section 12.Applications.
(a)All certificate and firm permit applications shall be reviewed and may be approved, subject to Board ratification, by the Board's staff or an Application Review Committee composed of the Board's staff and one (1) Board member pursuant to chapter 7, section 4 of these rules.
(b)The Board may deny any application for any of the following reasons:
(i)The applicant's failure to furnish all information required on the application and required application attachments;
(ii)The applicant engages in any actions listed in W.S. 33-3-121(a)(i) through (xiii);
(iii)The applicant falsifies information required by the application process; or
(iv)This or any other U.S. board of accountancy finds that the applicant committed an act of misconduct on the examination as set forth in chapter 2, section 4(e) of these rules.
(c)The Board or its designee shall not consider or review incomplete applications. An application for a certificate, firm permit, or examination, including any application for certificate or firm permit renewal, shall be deemed abandoned and any fee paid shall be forfeited if the applicant fails to complete the application within six (6) months of its original submission. All abandoned applications shall be destroyed one year from the date the partial application materials were received. Applicants whose documents have been destroyed in accordance with this subsection and who reapply shall be required to submit new applications including all required documentation and fees.
Section 13.Fees.
(a)Fees paid during the course of the current calendar year may be applied to fees due. Fees paid for certificates and firm permits are not prorated.
(b)Certificate Fees:
(i) Wall Document:$25.00
(ii) Active Status:$ 200.00
(iii) Inactive Status:$90.00
(iv)Active Status Renewal:$190.00
(v) Inactive Renewal:$ 80.00
(vi)Retired Status (one-time):$ 50.00
(vii)Reinstate:$ 1000.00
(viii)Activate From Expired Status:$ 300.00
(ix)Activate from Surrendered Status:$ 300.00
(x)Activate from Inactive Status:$210.00
(xi)Activate from Retired Status:$300.00
(xii)Restore Inactive Status from Expired:$190.00
(xiii)Continuing professional education extension requested pursuant to chapter 5, section 8 of these rules: $ 150.00
(c)Permit Fees:
(i)Firm Permit$ 170.00
(ii)Firm Permit Renewal:$ 160.00
(iii)Activate From Expired Status:$ 270.00
(iv)Reinstate:$ 1000.00
(d)Refunds.
(i)All refunds shall be subject to a $25 processing fee;
(ii)After the $25 processing fee has been assessed, the minimum allowable refund shall be $5.00.
(e)Other Fees:
(i)Non-sufficient Funds Fee:$ 25.00
(ii)Credit Card Charge back:$ 25.00
(iii)Duplicate/Reprinted Certificate:$ 25.00
(iv)Each Certified Notice Fee unrelated to investigation/disciplinary action: $50.00
(v)Board Approved Ethics Course Verification Fee:$ 50.00 per hour review cost charged to course vendor. A minimum fee of $200.00 shall accompany the course vendor's materials submitted for review and approval by the Board. The Board staff is not authorized to refund any portion of fees collected.
Section 14. Reporting Convictions, Judgments, and Disciplinary Actions.
(a)Each certificate holder and each CPA firm's designated certificate holder, on a form and in the manner prescribed by the board, shall disclose information specified in subsections (d), (e), and (f) of this section. Disclosure shall be required upon initial application for an individual certificate or CPA firm permit. Once licensed, disclosure shall be required within thirty (30) days of the imposition of discipline or judgment or with the renewal of the certificate or permit. Actions previously reported do not need to be re-reported upon renewal.
(b)All information or documents disclosed or provided pursuant to the requirements of this section shall be maintained in an investigative file pursuant to chapter 7, section 21(c)(ii).
(c)Disclosure shall include but is not limited to the following:
(i)The name of the court or regulatory/administrative entity involved;
(ii)The case number;
(iii)The names of the parties involved;
(iv)The type of reportable event; and
(v)A summary of the reportable events.
(d)Any conviction or finding of guilt or plea of nolo contendre to:
(i) A felony;
(ii)Any crime an element of which is dishonesty or fraud; or
(iii)The denial, cancellation, revocation, suspension, or refusal to renew the authority to practice as a certified public accountant by any state, federal agency, or foreign authority for any cause other than failure to pay a fee.
(e)Imposition of a censure, reprimand, sanction, probation, civil penalty, fine, consent decree or order by any state board of accountancy, the AICPA, the Securities Exchange Commission, Public Company Accounting Oversight Board, Internal Revenue Service, or foreign regulatory body that regulates the practice of accountancy.
(f)Any fully adjudicated judgment or settlement in a civil suit or arbitration proceeding entered after July 1, 2005 totaling more than $150,000 and based upon an allegation of dishonesty, fraud, or gross negligence in the practice of accounting, or any action that would constitute a violation of the rules of professional conduct promulgated by the board. Notification under this section shall apply only to actions directly involving a certificate or permit holder's practice of accounting in Wyoming.
Section 15.Incorporation by Reference.
(a)The Board hereby incorporates by reference the following uniform rules which are referred to throughout the rules:
(i)Chapter 2 - Uniform Procedures, Fees, Costs and Charges for Inspecting, Copying, and Producing Public Records adopted by the Department of Administration and Information and effective September 6, 2016, found at: https://State of Wyoming Admin & Info Public Records Rule.
(b)For these rules incorporated by reference:
(i)The Board has determined that incorporation of the full text in these rules would be cumbersome or inefficient given the length or nature of the rules:
(ii)The incorporation by reference does not include any later amendments editions of the incorporated matter beyond the applicable date identified in subsections (a)(i) and (ii) of this section; and
(iii) The incorporated rules are maintained at 325 West 18th Street, Ste. 4, Cheyenne, Wyoming, 82002 and are available for public inspection and copying at cost at the same location.