Wyoming Administrative Rules 061 — Accountants, Board of Certified Public

347 Accountants, Board of Certified Public

Chapter 1 General Provisions

Wyo. Code R. 061.0001.1.10282019 § 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).

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 8 Records Retention

The Board shall comply with records retention schedules set forth by the State of Wyoming.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.1.10282019 § 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.

History

• Effective 2019-10-28

Chapter 2 Examination

Wyo. Code R. 061.0001.2.08082024 § 1 Authority

These rules are promulgated pursuant to Wyoming Statue33- 3-l 08(a)(iii), W.S.33-3-110, W.S. 33-3-111, W.S.33-3-112, W.S. 33-3-113.

History

• Effective 2024-08-08

Wyo. Code R. 061.0001.2.08082024 § 2 Applications for Examination

(a) Applicants shall furnish all information required by the application form and other information, including proof of identity, as required by the board. Each application shall be accompanied by a non-refundable application fee, as determined by section 4(d) of this chapter, via credit card payment by accessing the self-serve payment link offered by the Board. Forms may be obtained from the Board or may be downloaded from the Board's website.

(b) The Board shall forward notification of eligibility in the form of an Authorization to Test (ATT) for the computer-based Uniform CPA Examination (examination) to the candidate and NASBA's National Candidate Database. Upon receiving the ATT from the Board, the candidate shall:

(i) Contact NASBA to obtain a Notice to Schedule (NTS) the examination;

and

(ii) Forward all applicable examination fees required by section 4(d) of this

chapter to NASBA.

(c) The ATT expires six (6) months from the date of the NTS, when the candidate tests for a particular section, or six (6) months from the date the application was filed if an NTS is not issued, whichever occurs first. A candidate whose ATT expired is not entitled to a refund of any fees, including examination fees, and the candidate must reapply to the board.

(d) Eligible candidates who have received an NTS shall independently contact a test center identified by NASBA to schedule the examination at an approved test site.

(e) A candidate who fails to appear for a scheduled section of the examination is not entitled to a refund of any fee paid to the board or examination fees paid to NASBA.

(f) The board reserves the right to deny the application or invalidate scores of any

individual for any of the following reasons:

(i) Failure to furnish all information required under this chapter;

(ii) Conviction of a felony under any state or United States law;

(iii) Conviction of any crime, an element of which is dishonesty or fraud, under any state or United States law;

(iv) Falsifying information required by the application process; or

(v) Misconduct on the examination as set forth in section 4(e) of this chapter or as determined by any United States board of accountancy.

(g) Applicants shall meet the requirements of W.S. 33-3-109(a)(i) through (ii) by

demonstrating that they are at least eighteen years of age; and

(i) Hold a valid Wyoming drivers license;

(ii) Have a current Wyoming physical/street address (not P.O. Box);

(iii) Are currently employed in Wyoming or have a valid documented and accepted offer of employment that will begin within six (6) months of the application date; or

(iv) Are a current student at a Wyoming community college or the University of Wyoming.

History

• Effective 2024-08-08

Wyo. Code R. 061.0001.2.08082024 § 3 Education Requirements

(a) Applicants shall furnish evidence in the form of a transcript(s) delivered directly to the board office by the college or university that they completed the following education requirements:

(i) An applicant who qualifies to sit for the examination under W.S. 33-3-111 shall have completed a baccalaureate or higher degree including a minimum of twenty-four (24) semester hours in accounting courses in some or all of the following subjects:

(A) Financial accounting and reporting for business organizations;

(B) Financial accounting and reporting for government and not-for

profit entities;

(C) Auditing and attestation services;

(D) Managerial or cost accounting;

(E) Taxation;

(F) Fraud examination;

(G) Internal controls and risk assessment;

(H) Financial statement analysis;

(I) Accounting or tax research and analysis;

(J) Accounting information systems;

(K) Ethics; or

(L) Other areas included in the Uniform CPA Examination Content Specification Outline or as may be determined by the board.

(ii) An applicant who qualifies under W.S. 33-3-111 shall also have completed at least twenty-four (24) semester hours of business courses (other than accounting) at the undergraduate or graduate level covering some or all of the following subjects:

(A) Business law;

(B) Economics;

(C) Management;

(D) Marketing;

(E) Finance;

(F) Business communications;

(G) Statistics;

(H) Quantitative methods;

(I) Technical writing;

(J) Information systems or technology;

(K) Ethics; or

(L) Data analytics if applying the data analytics tools is the primary objective of the course.

(b) A maximum of six (6) semester hours for internships may count toward the accounting or business subject matter requirements. In order to qualify, the internship must meet the following criteria:

(i) The internship is a short-term faculty supervised work experience usually related to a student's major field of study; and

(ii) The student earns academic credit.

(c) The official transcript shall be forwarded to the Board's office directly from the college or university that is accredited by one of the following accrediting associations or successor accrediting associations:

(i) New England Association of Schools and Colleges;

(ii) Middle States Association of Colleges and Secondary Schools;

(iii) Higher Learning Commission (formerly North Central Association of Colleges and Schools);

(iv) Northwest Commission on Colleges & Universities;

(v) Southern Association of Colleges and Schools;

(vi) Western Association of Schools and Colleges; or

(vii) Association to Advance Collegiate Schools of Business (AACSB).

(d) Credit earned through life experience as a result of an applicant passing the examination shall not qualify towards meeting any of the course requirements.

(e) Transcripts that document a graduate degree with a concentration in accounting from a program that is accredited in accounting by the AACSB shall be equivalent to the requirements outlined in subsection (a)(i) and (ii) of this section.

(f) One quarter unit or hour is equivalent to two-thirds (2/3) of a semester unit or

hour.

(g) Candidates qualifying based on a degree earned in a foreign country shall submit transcripts to a foreign education credentials service acceptable to the Board for evaluation. That evaluation shall verify that the degree awarded was transferrable to an institution of higher education in the United States and verify that the accounting courses are equivalent to those taken to qualify as a candidate in the United States.

History

• Effective 2024-08-08

Wyo. Code R. 061.0001.2.08082024 § 4 Examinations - Certified Public Accountant

(a) The board shall rely on the examination and the AICPA advisory grading service.

(b) The candidate shall receive a passing score as determined by the AICPA in each of the four (4) examination sections before a certificate will be issued. A passing score shall be seventy-five (75). Credit for passing a section is valid from the date of the testing event regardless of the date the candidate is notified or receives the score.

(c) Granting of Credit.

(i) A candidate may take examination sections individually and in any order. Credit for any examination section passed shall be valid for thirty (30) months from the date the candidate took the examination section. A candidate must pass all four (4) examination sections within a rolling thirty (30) month period that begins on the testing date of the first passed examination section. In the event all four (4) examination sections are not passed in the rolling thirty (30) month period, credit for any examination section passed outside the thirty (30) month period shall expire and that examination section shall be retaken. The thirty (30) month period may be extended by the board at its discretion upon a showing by the candidate of good cause.

(ii) A candidate may take any section of the examination up to four (4) times during a one-year period but cannot retake any failed examination section in any one (1) three (3) month testing period.

(iii) If examination system administration changes eliminating the test window limitations, subsection (c)(ii) no longer applies.

(iv) Transfer credit shall be granted to a candidate for satisfactorily completing any section of the examination given by the licensing authority in any jurisdiction, provided the requirements as outlined in W.S. 33-3-109(a)(v) and sections 3 and 4 of this chapter have been met.

(d) Fees: Each candidate shall pay an initial application fee to the board of $110.00 or a re-examination application fee of $50.00 for filing subsequent applications. The examination fees charged to candidates by the AICPA, NASBA, and the examination delivery service provider are paid directly to NASBA. All transfer candidates who qualify under subsection (c)(iii) above and all re-examination candidates who last applied for the examination in excess of three (3) years before the current application date shall pay initial application fees. An application fee will be assessed for each application regardless of the number of examination sections applied for on each application.

(e) Misconduct by a candidate in applying for, taking, or subsequent to the examination shall invalidate any score otherwise earned by a candidate on any section of the examination, may require the candidate to be relocated, or may warrant summary expulsion from the examination site and disqualification from taking the examination for a specified period of time. For purposes of this rule, the following actions or attempted activities, among others, may be considered misconduct:

(i) Falsifying or misrepresenting educational credentials or other information required for admission to the examination;

(ii) Communication between candidates or others inside or outside the examination site while the examination is in progress;

(iii) Copying another candidate's answers while the examination is in progress;

(iv) Impersonating a candidate or having an impersonator take the examination in the candidate's place;

(v) Reference to crib sheets, textbooks, or other materials or electronic media (other than provided to the candidate as part of the examination) inside or outside the examination site while the examination is in progress;

(vi) Selling, buying, distributing, or receiving any portion of a future or current examination;

(vii) Violating the non-disclosure prohibitions of the examination or aiding or abetting another in doing so;

(viii) Failure to follow examination procedures or instructions; or

(ix) Retaking or attempting to retake an examination section by an individual holding a valid certificate or by a candidate who has unexpired credit for having passed the same examination section, unless the individual has been directed to retake an examination section pursuant to board order or unless the board has expressly authorized the individual to retake the examination section.

(f) In any case where the Board believes it has evidence a candidate has engaged in misconduct on the examination, including those cases where the candidate has been expelled from the examination, the Board shall conduct an investigation and may conduct a hearing consistent with the Wyoming Administrative Procedure Act. Contested case hearings shall be conducted pursuant to the Office of Administrative Hearings' Uniform Rules for Contested Case Practice and Procedure. The board shall notify NASBA, the AICPA, and the examination center of the investigative findings. In any case where a candidate is barred from taking the examination in the future, the board shall provide the Board's findings and actions taken to any other board of accountancy to which the candidate may apply.

(g) Subject to terms and conditions imposed by NASBA or the AICPA, including but not limited to, the candidate bearing all travel and examination score review and appeal costs, the Board may allow a Wyoming candidate the privilege to review and appeal the scores earned on the examination within sixty (60) days after the release of the examination section scores in question.

History

• Effective 2024-08-08

Wyo. Code R. 061.0001.2.08082024 § 5 Incorporation by Reference

(a) The board hereby incorporates by reference the following uniform rules:

Chapter 2 - Uniform Rules for Contested Case Practice and Procedure adopted by the Office of Administrative Hearings and effective on October 17, 2014 and revised effective July 20, 2017, found at: https://State of Wyoming OAH Ch 2 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 or editions of the incorporated matter beyond the applicable date identified in subsection (a)(i) of this section; and

(iii) The incorporated rules are maintained at the board office and are available for public inspection and copying at the same location.

History

• Effective 2024-08-08

Wyo. Code R. 061.0001.2.08082024 § 6 Security and Irregularities

Notwithstanding any other provisions under these rules, the board may postpone scheduled examinations, the release of scores, or the issuance of certificates due to:

(a) A breach of examination security;

(b) Unauthorized acquisition or disclosure of the contents of an examination;

(c) Suspected or actual negligence, errors, omissions, or irregularities in conducting an examination; or

(d) Any other reasonable cause or unforeseen circumstance.

History

• Effective 2024-08-08

Chapter 3 Certificates

Wyo. Code R. 061.0001.3.10282019 § 1 Authority

These rules are promulgated pursuant to Wyoming Statute 33-3-108(a)(iii), (v), and (vi) and W.S. 33-3-109(a), (c), (d), (f), (g), (k), (m), (o), and (p).

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.3.10282019 § 2 Original Certificates

(a) A certificate shall be issued to any person who has successfully completed all sections of the Uniform CPA Examination (examination), documents lawful presence in the United States, and who has met the requirements of W.S. 33-3-109(a) and the rules. All certificate holders whose principal place of business is in this state and who provide services in Wyoming as defined in W.S. 33-3-109(c) are in active practice and shall maintain the certificate on active status.

(b) Education. The applicant for a certificate as a CPA shall have completed, and evidence by an official transcript from a college or university acceptable to the board under chapter 2, section 3(c) and (e) of these rules, at least twenty-four (24) semester hours of upper division or graduate level accounting courses.

(c) Experience.

(i) The applicant for a certificate as a CPA qualifying for the examination under W.S. 33-3-109(a)(v)(A) or W.S. 33-3-109(p) shall demonstrate four (4) years of experience which shall be verified by a CPA whose certificate was active at the time the experience was earned or as provided for in W.S. 33-3-109(a)(v)(B).

(ii) The applicant for a CPA certificate qualifying under W.S. 33-3-109(a)(v)(C) shall demonstrate one (1) year of experience which shall be verified by a CPA whose certificate was active at the time the experience was earned or as provided for in W.S. 33-3-109(a)(v)(D).

(iii) The term "year of experience" as used in W.S. 33-3-109(a)(v)(B) and (D) means a minimum of two thousand (2,000) working hours.

(d) Equivalent experience. The board may consider equivalent experience not verified by an active CPA. The applicant shall provide documentation verifying equivalent experience specifying the job title, employment period, a detailed description of the duties, and the documentation shall be affirmed by an appropriate supervisor or official. The applicant shall be required to provide samples of work product that demonstrate the type and quality of work experience earned by the applicant. This experience may include but is not limited to the following:

(i) Financial statement preparation;

(ii) Financial statement consolidation;

(iii) Trial balance/general ledger/fixed asset;

(iv) Audit support;

(v) Software conversion/installation of financial systems;

(vi) Account reconciliation;

(vii) Expense account analysis;

(viii) Tax payments and returns;

(ix) Payroll management;

(x) Budget preparation, operating, and capital;

(xi) Product costing;

(xii) Developing or testing internal controls;

(xiii) Capital budgeting support;

(xiv) Analysis of financial statements or budgets;

(xv) Analysis of information flows and accounting processes;

(xvi) Research of accounting literature or tax codes;

(xvii) Conducting internal audits;

(xviii) Preparation of journal entries;

(xix) Income tax preparation, projections, or advice;

(xx) Financial consulting; or

(xxi) Educational instruction in any discipline covered by the examination (academia).

(e) An original certificate applicant shall document that he has completed a professional ethics examination, "Professional Ethics: The AICPA's Comprehensive Course" accepted by the board for certification purposes at the time of application.

(f) Transfer credit shall be granted to an original certificate applicant if he shows satisfactory completion of all sections of the examination given by the licensing authority in any jurisdiction, provided the requirements outlined in W.S. 33-3-109(a) and section 2 of this chapter have been met.

(g) An applicant shall document lawful presence in the United States on forms required by the Board.

(h) After issuance of an original certificate, the holder shall practice under the name registered with the Board.

(i) Applications for original certificates from applicants who have a history of disciplinary action related to certificate(s) issued in other jurisdictions, shall be referred to an Application Review Committee set forth in chapter 7, section 4 of these rules.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.3.10282019 § 3 Reciprocal Certificates

(a) CPAs of other states or accountants from foreign countries whose principal place of business is in Wyoming or who do not qualify for practice privileges shall obtain an active Wyoming certificate before furnishing services in Wyoming. All applicants for reciprocal certificates shall document lawful presence in the United States.

(b) Duly qualified persons may be certified under W.S. 33-3-109(o) and W.S. 33-3-116(c) when they submit applications, proof of qualifications, applicable fees, document lawful presence in the United States, and other information as follows:

(i) A person holding an active CPA certificate based on passing the examination prior to January 1, 2012 and issued by any state or jurisdiction when the person had completed at least one year of broad-based experience set forth in section 2(d) of this chapter meets requirements substantially equivalent to Wyoming's requirements and shall demonstrate applicable certification is in good standing and the person has not been otherwise.

(ii) A person holding an active CPA certificate based on passing the examination after January 1, 2012 and issued by any state or jurisdiction when the person had met the requirements specified at W.S. 33-3-116(c) meets requirements substantially equivalent to Wyoming's requirements and shall demonstrate applicable certification is in good standing.

(iii) A person holding an active CPA certificate issued by a state or jurisdiction deemed substantially equivalent to the Uniform Accountancy Act by NASBA National Qualification Appraisal Service meets requirements substantially equivalent to Wyoming's requirements and shall demonstrate applicable certification is in good standing.

(iv) A person holding an inactive or retired CPA certificate in any other state shall either activate the certificate in a substantially equivalent state or submit documents to demonstrate the individual qualifications have been determined by NASBA to be substantially equivalent or shall meet the requirements as set forth in section 2 of this chapter. An applicant meeting the requirements of section 2 shall provide an official transcript showing compliance with the educational requirements imposed by W.S. 33-3-109 and documentation that shows compliance with the CPE requirements to activate a certificate.

(v) Pursuant to W.S. 33-1-117 and notwithstanding any law or rule to the contrary, military spouses registered in good standing as CPAs in other states deemed to be substantially equivalent may practice under a temporary permit not to exceed one hundred twenty (120) days or until an application for certification in Wyoming has been granted or denied, whichever first occurs.

(c) Foreign Reciprocity. An applicant meeting requirements pursuant to W. S. 33-3-109(a)(i) and (ii) and who holds a credential from a foreign country comparable to the CPA certificate is required to meet the qualifications for certificates provided in W.S. 33-3-109(k).

(i) The board shall waive the examination and issue a certificate to an applicant who has completed an examination comparable to the Uniform CPA Examination administered by a foreign authority evaluated by NASBA's International Qualifications Appraisal Board with requirements determined to be substantially equivalent to the requirements for a CPA whose certificate was issued by a U.S. State Board of Accountancy.

(A) An applicant shall pass the AICPA International Uniform Certified Public Accountant Qualification Examination with a minimum score of seventy-five (75).

(B) An applicant shall satisfactorily complete the comparable examination administered by the foreign authority.

(C) An applicant shall provide certification from an appropriate foreign authority that no designation awarded has expired, been revoked, suspended, or is under investigation and is otherwise in good standing.

(D) An applicant shall provide certification from the foreign authority that the authority provides similar provisions to Wyoming CPAs to obtain a comparable designation.

(E) Fees for the application shall be submitted in U.S. funds by money order or a properly encoded draft drawn on a United States bank in U.S. funds.

(F) An applicant located in the United States shall document lawful presence in the United States on forms required by the Board.

(d) Applications for reciprocal certificates from applicants who have a history of disciplinary action related to certificate(s) issued in other jurisdictions, shall be referred to an Application Review Committee set forth in chapter 7, section 4 of these rules.

(e) After issuance of a reciprocal certificate, the holder shall practice under the name registered with the Board.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.3.10282019 § 4 Inactive Status

(a) Persons holding a certificate issued under W.S. 33-3-109 or W.S. 33-3-116 but who do not practice public accounting in Wyoming and have not lost the right to active status may place the certificate on an inactive status.

(b) A certificate holder who is no longer actively engaged in the practice of accounting in Wyoming may place the certificate on inactive status by submitting a written application to the Board. The request may be submitted when the holder no longer provides services or with the annual renewal application. The written request shall certify the holder is not actively engaged in the practice of accounting in Wyoming and provide the following information:

(i) Place of employment;

(ii) Name of supervisor or manager, if applicable;

(iii) Occupational information regarding services provided in Wyoming or job duties; and

(iv) Reason for the request to place the certificate on inactive status.

(c) A certificate holder who maintains the certificate on inactive status may assume or use the title "Certified Public Accountant, Inactive" or "CPA, Inactive" if:

(i) The assumption or use of the designation is not incident to the practice of public accounting as defined in W.S. 33-3-109(c);

(ii) The certificate has not been revoked or suspended by any jurisdiction for any reason except non-payment of fees; and

(iii) The certificate holder pays an annual fee as set forth in chapter 1, section 13 of these rules.

(d) A holder who maintains the certificate on an inactive status shall not be subject to CPE requirements.

(e) An inactive certificate holder may activate the certificate by providing:

(i) An application in a form provided by the Board;

(ii) Documentation of compliance with the CPE requirements set forth in chapter 5 of these rules; and

(iii) Payment of additional fees equal to the difference between the fee paid for the inactive status and the fee required to maintain active status; and

(iv) Documentation of lawful presence in the United States if the holder is located in the United States.

(f) Nothing in this section shall prohibit an inactive CPA from offering uncompensated accounting services that could be performed by a non-CPA.

(g) A holder who maintains the certificate on inactive status and wishes to provide services as defined in W.S. 33-3-109(c) in Wyoming for compensation shall submit a complete application to activate the certificate as set forth in subsection (e) above before providing accounting services in Wyoming. The holder may begin to provide services upon notification that his certificate has been reactivated.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.3.10282019 § 5 Retired Status

(a) The Board may waive the requirement that holders maintain active or inactive status and allow a holder to retire the certificate and continue to assume or use the title "Certified Public Accountant, Retired" or "CPA, Retired" if:

(i) The holder is not engaged in the practice of public accounting in Wyoming as defined in W.S. 33-3-109(c);

(ii) The assumption or use of the designation is not incident to the practice of public accounting as defined in W.S. 33-3-109(c);

(iii) The certificate has not been revoked or suspended by any jurisdiction for any reason except non-payment of fees; and

(iv) The certificate holder has reached age 65 or is disabled.

(b) A retired certificate holder who has previously held active or inactive status may activate the certificate by providing:

(i) An application in a form provided by the Board;

(ii) Documentation of compliance with CPE requirements set forth in chapter 5 of these rules;

(iii) Payment of active status fees; and

(iv) Documentation of lawful presence in the United States if the holder is located in the United States.

(c) A holder who maintains the certificate on retired status and begins to provide services as defined in W.S. 33-3-109(c) in Wyoming shall submit a complete application to activate the certificate as set forth in subsection (b) above prior to providing accounting services in Wyoming. The holder may begin to provide services upon notification that his certificate has been reactivated.

(d) Nothing in this section shall prohibit a retired CPA from offering uncompensated accounting services that could be performed by a non-CPA.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.3.10282019 § 6 Renewal

(a) All active and inactive certificates expire December 31st each year. Renewal notifications shall be provided to all certificate holders by e-mail only no later than October 1st each year. Renewal applicants shall provide all information required by the Board. All certificate renewal applications shall be processed using the online licensing management system provided by the Board.

(b) Active Status: Certificate holders shall process certificate renewal applications online by no later than December 31st of each year and shall include the following:

(i) Resident certificate holders shall comply with Wyoming's CPE requirements by providing a list of courses completed or proposed to be completed during the current calendar year and upload copies of certificates of completion with the certificate renewal application.

(ii) Designated certificate holders as defined in chapter 1, section 2(j) of these rules who provide services in a Wyoming office must submit the application to renew the CPA firm permit in conjunction with the individual certificate renewal application.

(iii) Applicable fees set forth in chapter 1, section 13 of these rules shall be included with the certificate renewal application.

(c) Inactive Status: Certificate holders who maintain an inactive certificate shall annually renew the certificate by complying with the provisions of this section no later than December 31st each year.

(i) Inactive certificate holders who fail to renew certificates by no later than December 31st shall pay the annual inactive fee plus the late and notice fees set forth in chapter 1, section 13 of these rules in order to restore the certificate to inactive status from expired status.

(d) Individual certificate holders shall be responsible for the truth and accuracy of all renewal information submitted.

(e) Expired or Surrendered Certificates.

(i) Expired or surrendered certificates may be restored upon application, payment of fees set forth in chapter 1, section 13 of these rules, and compliance with other requirements imposed on certificate holders including CPE requirements.

(f) On-line Renewal: Certificate holders shall renew active or inactive status certificates electronically by certifying compliance with all applicable requirements.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.3.10282019 § 7 Exemptions

A certificate holder may request on forms provided by the Board that the Board waive the requirement to maintain the certificate on active status for cases of individual hardship for the following reasons:

(a) Deployment for military service;

(b) Health of the certificate holder; or

(c) Other good cause shown.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.3.10282019 § 8 Transition to Practice Privileges

Certificate holders whose principal place of business is not in Wyoming and who qualify for practice privileges or otherwise are not required to maintain the Wyoming certificate may choose between the following:

(a) Surrender the certificate and wall document for mobility (if issued), submit an affidavit of lost certificate, or allow the certificate to expire at the end of the calendar year; or

(b) Continue to maintain the certificate on active status as required by the rules.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.3.10282019 § 9 Refunds

Refunds of certificate fees paid may be processed at the discretion of the Board. All requests for refunds must be submitted in writing to the Board office within thirty (30) days of payment of the fee. All refunds are subject to requirements in chapter 1, section 13(d) of these rules.

History

• Effective 2019-10-28

Chapter 4 Permits

Wyo. Code R. 061.0001.4.10282019 § 1 Authority

These rules are promulgated pursuant to Wyoming Statutes 33-3-118, W.S. 33-3-119, and W.S. 33-3-120.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.4.10282019 § 2 Registration of Firms

(a) All certificate holders who perform compilation or attest services outside of a permitted firm from a Wyoming office shall register and obtain permits. A firm that does not have an office as defined in chapter 1, section 2(r) of these rules, but performs compilations for a client whose home office is in Wyoming and is not required to comply with the AICPA peer review requirements or some state's peer review requirements must register with the Board and obtain a permit.

(b) CPA firms required to register shall meet the application requirements as follows:

(i) A corporation must file a copy of the filed articles of incorporation at the time of initial application and any subsequent amendments thereto in accordance with chapter 1 of these rules.

(ii) A limited liability company must file a copy of the articles of organization with the secretary of state or other appropriate authority of the state at the time of initial application and any subsequent amendments thereto in accordance with chapter 1 of these rules.

(c) An application to register a firm shall be made on forms provided by the Board and upon the sworn statement of a designated certificate holder who holds an active Wyoming certificate or qualifies for practice privileges and is responsible for the CPA firm in the State of Wyoming. All notifications required under this act and these rules shall be the responsibility of this designated certificate holder.

(d) Designated certificate holders shall register Wyoming office locations with the CPA firm registration and provide the following information:

(i) Office address, both physical and mailing, if different;

(ii) Phone number;

(iii) Name of certificate holder providing attest or compilation services at each location; and

(iv) A list of all office locations within Wyoming.

(e) After issuance of a CPA firm permit, the firm shall practice under the name registered with the Board.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.4.10282019 § 3 Renewal/Activation

(a) All CPA firm permits expire December 31st of each calendar year. Renewal notifications shall be e-mailed to designated certificate holders no later than October 1st each calendar year.

(b) The designated certificate holder shall submit an application for renewal which shall be processed in the Board's electronic licensing system no later than December 31st of each calendar year and be accompanied by the following:

(i) A complete individual certificate renewal unless authorized to use practice privileges;

(ii) Copies of applicable amended articles of incorporation or articles of organization;

(iii) Applicable fees, to include outstanding certified notice fees as outlined in chapter 1, section 13(c)(ii) of these rules;

(iv) A list of all firm ownership, including certificate status and percentage ownership; and

(v) A list of all certificate holders associated with the firm.

(c) Firms eligible for practice privileges may activate an expired firm permit at any time and are subject to activation fees as set forth in chapter 1, section 13(c)(iii) of these rules.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.4.10282019 § 4 Non-certificate Holders

CPA firms whose ownership includes non-certificate holders shall provide a list of the names of all certificate and non-certificate holder owners at initial registration and at the time of annual permit renewal. This list shall document compliance with subsection (ii) of this section.

(i) Subsequent changes must be reported within sixty (60) days;

(ii) If the withdrawal of a certificate holder results in the CPA firm's ownership being controlled by more than 49% of non-certificate holders, the CPA firm shall take corrective action within sixty (60) days to ensure the CPA firm complies with W.S. 33-3-118(b)(xvi)and (xvii).

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.4.10282019 § 5 Non-Resident Firms

CPA firms that qualify for practice privileges but elect to obtain/maintain a permit in Wyoming shall comply with all provisions and requirements set forth in W.S. 33-3-118(b)(xiv) and (xv), W.S. 33-3-120, W.S. 33-3-132, and these rules.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.4.10282019 § 6 Refunds

Refunds of firm permit fees paid may be processed at the discretion of the Board. All requests for refunds must be submitted in writing to the Board office within thirty (30) days of payment of the fee. All refunds are subject to requirements in chapter 1, section 13(d) of these rules.

History

• Effective 2019-10-28

Chapter 5 Continuing Professional Education

Wyo. Code R. 061.0001.5.07152020 § 1 Authority

These rules are promulgated pursuant to Wyoming Statute § 33-3-108(a)(iii).

History

• Effective 2020-07-15

Wyo. Code R. 061.0001.5.07152020 § 2 Definitions

(a) "Renewal Year" means the calendar year following any year in which a registrant holds an active certificate.

(b) "Third Party" means a person associated with or duly authorized by a CPE vendor or sponsor to represent that vendor or sponsor.

History

• Effective 2020-07-15

Wyo. Code R. 061.0001.5.07152020 § 3 General Requirements

(a) A Continuing Professional Education (CPE) program qualifies as acceptable continuing education if it is a formal program of learning that contributes directly to the professional competence of a certificate holder in the practice of accounting as a CPA regardless of whether the holder practices in a public firm, in industry, in government, or in academia and verification of attendance or completion can be provided by a third party. Selection of the appropriate courses will be at the discretion of the certificate holder and may be selected from any of the Fields of Study issued by NASBA's Registry of CPE Sponsors. Holders may not report credits earned through completion of multiple identical courses completed within the same calendar year, whether the courses are offered by the same vendor or a closely related vendor. Holders shall be required to provide evidence that courses are different if the Board requires it.

(i) At least sixty-six (66%) (80 of the 120 credit requirement or 40 of the 60 credit requirement found in subsection (c) of this section) of the credits shall be earned in fields of study that directly relate to a holder's field of business as a CPA in the technical learning categories found in the Fields of Study That Qualify For Continuing Professional Education document incorporated by reference:

(A) Accounting;

(B) Accounting (Governmental);

(C) Auditing;

(D) Auditing (Governmental);

(E) Business Law;

(F) Economics;

(G) Finance;

(H) Information Technology;

(I) Management Services;

(J) Regulatory Ethics;

(K) Specialized Knowledge;

(L) Statistics; or

(M) Taxes.

(ii) The balance of credits may be earned in non-technical learning activities that contribute to the professional competence of a CPA in fields of study that indirectly relate to the CPA's field of business in categories found in the Fields of Study That Qualify For Continuing Professional Education document incorporated by reference:

(A) Behavioral Ethics;

(B) Business Management & Organization;

(C) Communications and Marketing;

(D) Computer Software & Applications;

(E) Personal Development;

(F) Personnel/Human Resources; or

(G) Production.

(b) Programs must be developed and conducted in compliance with the Statement on Standards for Continuing Professional Education (CPE) Programs incorporated by reference. If called upon to do so by the Board, certificate holders must be prepared to demonstrate that providers/sponsors have complied with the Statement on Standards for Continuing Professional Education (CPE) Programs.

(c) Certificate holders are required to comply with the CPE requirements in the three (3) full calendar years immediately preceding the renewal year as set forth below:

Rolling CPE Reporting Requirements

Renewal Year

First Calendar Year

Second Calendar Year

Third Calendar Year

First Renewal Reporting Requirement

0 credits to be reported for this first certificate year

Second Renewal Reporting Requirement

60 credits completed during this two calendar year period

Thereafter

120 credits in this rolling three year period

(i) With the exception of the requirement stipulated in sub-section (iv)(A) below, certificate holders renewing an active certificate for the first time are excepted from the continuing professional education reporting requirements;

(ii) To renew an active certificate for the second time, a holder shall complete 60 credits in the two calendar years immediately preceding the renewal year as reported and evidenced by the holder using the Board's online CPE reporting tool;

(iii) To renew an active certificate thereafter, a holder shall complete 120 credits in the three calendar years immediately preceding the renewal year as reported and evidenced by the holder using the Board's online CPE reporting tool.

(iv) All certificate holders who maintain their principal place of business in Wyoming are required to complete, as scheduled by the Board, and at least once every three-year continuing education period, four credits of continuing education in regulatory/professional ethics as approved by the Board. Credits may be earned at separate courses but all four credits must be completed in the same calendar year. To qualify for credit, the course must include a Wyoming statutes and rules element and other topics such as ethical reasoning or standards of professional conduct including those of other applicable regulatory bodies with a passing score of 80% unless satisfaction of the requirement is through participation in a group program. Holders who obtain initial certificates shall complete an approved regulatory/professional ethics course as set forth in section 3(c)(iv) of this chapter within six (6) months (month-end of date of initial certificate) of obtaining the initial certificate and every three year renewal period thereafter.

(v) If a reported/planned course as of the date of processing an online certificate renewal application is not completed by December 31st, an amended program attendance record must be submitted in the Board's online licensing renewal/CPE reporting system reflecting the change. If reported/planned courses are not completed by December 31st and are required to meet minimum CPE requirements, holders may request an extension of the CPE deadline in accordance with section 8 of this chapter and shall pay required fees at the time of the request.

(d) The continuing professional education requirement of a non-resident certificate holder not using practice privileges is met if the individual meets the continuing education requirement for renewal of a certificate, permit, or license in the state in which the individual's principal office is located. These individuals must, during the applicable renewal period imposed by the state where the principal office is located, complete four credits of continuing education in regulatory/professional ethics covering state specific statutes and rules and such topics as ethical reasoning or standards of professional conduct including those of other applicable regulatory bodies. The non-resident must certify that the continuing professional education requirement has been met in another state. If there is no continuing education requirement in the non-resident's principal place of business or the individual is not licensed in his principal place of business, the individual must comply with the requirements as though he was a resident of Wyoming. Non-resident certificate holders are subject to the audit provisions of this chapter to verify the continuing professional education status of a non-resident.

(e) Courses offered by a single course sponsor or multiple course sponsors repeated during a renewal year are ineligible to be counted towards meeting minimum requirements. Holders are responsible for providing evidence that courses are different if the Board requires it.

(f) Inactive and Retired certificate holders are excepted from the continuing education requirements until such a time as they enter or re-enter practice under the provisions of the Act and the rules.

(g) The Board may suspend, relax, or grant exceptions to the continuing education requirements for instances of individual hardship or other good cause shown.

History

• Effective 2020-07-15

Wyo. Code R. 061.0001.5.07152020 § 4 Credit

(a) Continuing Professional Education will be measured by program length with one fifty (50) minute period constituting one (1) credit unless the course is offered as a nano learning course. Total credits will be determined based on the sum of segments with credits rounded down to the nearest half credit when the total is not divisible by 50 (180 minutes = 3.5 credits). Credit is granted in the calendar year in which the course is attended or completed unless the Board determines otherwise. Credits reported in one certificate of completion or other evidence of completion may not be split between multiple calendar years. Credit granted through the extension process will be granted in one year only to satisfy minimum CPE requirements and cannot be carried forward to meet future requirements.

(b) A nano learning program is a formal tutorial program designed to permit a participant to learn a given subject in 10-minute increments through the use of electronic media (including technology applications and processes and computer-based or web-based technology) and without interaction with a real-time instructor. A holder shall not claim more than ten (10) full CPE credits (maximum of fifty (50) ten (10) minute nano learning programs) earned through nano learning programs within one (1) calendar year and all nano learning credits shall be offered through course sponsors listed on NASBA's Learning Registry.

(c) Instructors, lecturers, discussion leaders, and speakers earn credit for the actual presentation period plus an additional two credits for each period for preparation (three (3) credits for each presentation credit). The maximum credit allowed in this category will be 50% of the total renewal requirement (no more than 60 credits in any three-year period). Repetitious presentations will not qualify unless substantive changes requiring significant additional research and study have been made to the course.

(d) Published articles, books, etc. authored by the certificate holder: Credit may be awarded for published articles or books for up to 25% of the renewal requirement (no more than 30 credits). Copies of articles or books must be provided at the holder's expense.

(e) University or college courses: Each semester hour credit will equal fifteen (15) credits towards the requirement. A quarter hour will equal ten (10) credits. Credit earned for courses taken to obtain an initial baccalaureate degree that qualifies an individual to sit for the examination do not qualify under this section.

(f) Independent Study: Credit in this area is limited to twelve (12) credits in any renewal period.

(g) Non-degree certificate programs: Accredited colleges and universities that offer certificate programs but do not post credit for the program on the official transcript must either provide a completion certificate to the participant or maintain an attendance log of participants, prepare and preserve an outline of the course, and ensure the course is led by a qualified instructor. One (1) CPE credit shall be awarded for every 50 minutes of class time.

(h) When credits are limited by section 4(b), (c), (d), (e), or (f) no future adjustments may be made to use credits previously limited.

History

• Effective 2020-07-15

Wyo. Code R. 061.0001.5.07152020 § 5 Evidence of Completion — Retention

Primary responsibility for documenting that requirements have been met rests with the certificate holder. Evidence to support fulfillment of those requirements shall be retained for a period of four (4) years after the completion of the course. Certificate holders shall retain an outline or program for each course and evidence of attendance. Holders shall report coursework and upload certificates of completion and other documentation as required into the online system provided by the Board. All documents uploaded to the online CPE reporting system shall be associated only with the course to which it pertains. Documentation shall include the holder's name; sponsor/provider name; course title, date and timeframe of the course; and the amount of credit granted as applicable calculated based upon a 50-minute hour. Satisfaction of completion of the requirements may be accomplished as follows:

(a) College or university courses: transcripts verifying completion or other verified documentation from an institution.

(b) Individual or independent study: Certificates of completion, signed statements from vendors or sponsors, copies of the applicable independent study contracts, or other acceptable documentation as determined by the Board.

(c) Group study: Sign in sheets, certificates of attendance, firm rosters signed by participants and attested to by the appropriate firm officials, other third party verification, or other acceptable documentation as determined by the Board.

(d) Instructor/lecturer: a signed statement from the course provider or other appropriate official verifying the services were provided shall be obtained.

(e) Board approved regulatory/professional ethics course: Upon request all certificate holders shall submit a certificate of completion or certificate of attendance to the Board office using the online CPE reporting system.

History

• Effective 2020-07-15

Wyo. Code R. 061.0001.5.07152020 § 6 Activation

(a) Before providing accounting services, an individual who has been excepted from the requirements or has otherwise not provided evidence of compliance with the CPE requirements shall make appropriate application and show compliance with the continuing education requirements.

(b) If applying for activation within 120 days of the date of the license expiration, the applicant shall comply with section 8(e) of this chapter and pay the applicable $150 CPE Extension Processing Fee. Any CPE credits taken during the 120-day period will be credited to the previous calendar year.

(c) The Board may waive the requirement to complete requirements in a given calendar year period and consider a combination of 120 hours completed within a three (3) year period other than calendar years.

(d) The Board may allow a certificate holder to re-enter active practice without providing compliance with the continuing education requirements upon the condition that the applicant follow a particular future program or schedule of continuing education.

(e) The applicant shall document that an approved ethics course as set forth in section 3 of this chapter has been completed within the three (3) years prior to re-entry.

History

• Effective 2020-07-15

Wyo. Code R. 061.0001.5.07152020 § 7 Controls and Reporting

To renew an active certificate, on the online licensing renewal system and CPE reporting tool provided by the Board, each holder or each non-resident who does not report CPE to another state shall provide the following by reporting course details and uploading certificates of completion to the Board's online licensing system:

(a) The number of CPE credits completed as requested;

(b) A list of the individual courses completed or to be completed prior to December 31st of the calendar year subject to renewal including the following information:

(i) Sponsoring organization/provider/contractor;

(ii) Title of program or description of content;

(iii) Course type (individual, group, lecture, etc.);

(iv) Dates attended or completed; and

(v) Credit claimed.

History

• Effective 2020-07-15

Wyo. Code R. 061.0001.5.07152020 § 8 Extensions

The Board may, upon written request, extend the time within which certificate holders must comply with the requirements of this chapter for good cause.

(a) An applicant may request a ninety (90) day extension at the time of renewal upon payment of the required $150.00 CPE Extension Processing Fee in addition to the certificate renewal fee. All requests for 90-day extensions are subject to the $150.00 CPE Extension Processing Fee regardless of whether the request was intended or not. There shall be no refunds of the CPE Extension Processing Fee.

(b) Any CPE taken as part of the ninety (90) day extension, will be counted in the prior calendar year.

(c) Any request for an additional extension in excess of ninety (90) days shall be submitted to the Board in writing no later than March 1st and outline good cause for granting the extension.

(d) Any applicant who requests or is granted an extension of time under this section shall submit documentation of completing the applicable course work no later two weeks after the expiration of the extension deadline and shall be audited under section 9 of this chapter.

(e) Any applicant who fails to complete the CPE requirement by the extended deadline shall be required to complete additional CPE credits equal to either the lesser of the shortage of credits or no more than sixteen (16) additional CPE credits. The additional credits shall be completed no later than thirty (30) days from the extended deadline and shall not qualify for purposes of meeting any future CPE renewal requirement. Failure to submit documentation of completion of the additional credits by the deadline shall result in the initiation of an investigation and possible disciplinary action in accordance with chapter 7 of the rules.

History

• Effective 2020-07-15

Wyo. Code R. 061.0001.5.07152020 § 9 Verification

The Board shall verify compliance with the CPE requirements on a test basis (to a maximum of 20% audit) or as otherwise necessary. Board staff or Board members shall determine whether CPE credits claimed meet the requirements set forth in this chapter. Upon a finding that CPE credits or the documentation provided to evidence CPE credits do not meet the requirements set forth in this chapter, the Board staff or Board members may disqualify course credits claimed and shall notify the holder of the findings.

(a) In the form requested by the Board, holders shall submit evidence of compliance with the CPE requirements.

(b) Non-resident certificate holders not using practice privileges shall comply by providing evidence and reporting of continuing professional education in a form required by the Board and by submitting a copy of the applicable renewal application in the state of residence and evidence of completion of all courses required by the residency state, to include the completion of the ethics course required in section 3(e) of this chapter for the applicable renewal period or through another Board approved CPE audit process. All CPE documentation required must be recorded in the Board's CPE reporting system. If no documents were submitted to the state of residence, the holder shall comply with subsection (a) above.

(c) A holder shall remedy any deficiency discovered within ninety (90) days of formal notification by the Board. Deficiency credits shall qualify for credit in the initial reporting period and cannot be duplicated for purposes of determining the applicable requirement in any other reporting period.

(d) Any certificate holder found deficient shall be required to complete additional CPE credits equal to the lesser of the shortage of credits but not more than sixteen (16) additional CPE credits. The additional credits shall be completed within thirty (30) days of the date advised of the deficiency. Deficiency credits shall not qualify for purposes of meeting any future CPE renewal requirement. Failure to submit documentation of completion by the deadline shall result in the initiation of disciplinary action.

(e) Programs found to be out of compliance with the general standards may be disqualified and result in the requirement that the holder remedy any deficiency caused pursuant to subsections (c) and (d) of this section.

(f) Certificate holders found deficient shall be included in the CPE audit for two renewal cycles following the deficiency.

History

• Effective 2020-07-15

Wyo. Code R. 061.0001.5.07152020 § 10 Incorporation by Reference

(a) 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.

(b) The following are incorporated by reference:

(i) The Statement on Standards for Continuing Professional Education (CPE) Programs adopted by the National Association of State Boards of Accountancy and the American Institute of Certified Public Accountants and last revised December 19, 2019, found at: https://drive.google.com/open?id=10KZ1kIRwJpNSniUYv23BXTF0LOn8DFSe

(ii) Fields of Study That Qualify For Continuing Professional Education adopted by the National Association of State Boards of Accountancy and last revised December 19, 2019, found at: https://drive.google.com/open?id=1naKGYY4FCC-FE5BwP-Sa34ultVxmwiSq

History

• Effective 2020-07-15

Chapter 6 Rules of Professional Conduct

Wyo. Code R. 061.0001.6.03042013 Rules of Professional Conduct

CHAPTER 6

RULES OF PROFESSIONAL CONDUCT

Section 1. Preamble . This Code of Professional Conduct is promulgated under the authority granted by W.S. 33-3-108, which delegates to the Wyoming Board of Certified Public Accountants the power and duty to prescribe rules of professional conduct for establishing and maintaining high standards of competence and integrity in the profession of public accountancy. These rules apply to certificate or permit holders and those who avail themselves of practice privileges.

(a) The Rules of Professional Conduct set forth in this Chapter rest upon the premise that the public places trust and confidence in the CPA profession and the services it provides. The public consists of clients, credit grantors, governments, employers, investors, the business and financial community, and others who use CPA services. Consequently, licensees have a duty to conduct themselves in a manner that will be beneficial to the public and which fosters such trust and confidence. This Code of Professional Conduct identifies the fundamental principles of conduct intended to govern licensees in all aspects of professional performance whether they are in public practice, industry, not-for profit organizations, government, education or other professional endeavors. The independence rules apply only to those professional services where it is required by the applicable professional standards.

(b) When a holder accepts an engagement to perform professional services in the practice of public accounting, or uses a title which implies a particular competence, the holder accepts the obligations set forth in the Rules of Professional Conduct, and accordingly has a duty to abide by the Rules of Professional Conduct.

(c) In applying any of the professional standards, the Board may consider as persuasive, but not necessarily conclusive, applicable interpretations and rulings of the Code of Professional Conduct adopted by the American Institute of Certified Public Accountants (AICPA), as well as similarly applicable interpretations and rulings issued by other authorities such as the International Accounting Standards Board (IASB) and the Public Company Accounting Oversight Board (PCAOB). The Rules of Professional Conduct shall apply to holders regardless of membership status in the AICPA. All standards and rules of professional conduct are referred to in Chapter 11 "Statement on Standards Relative to the Practice of Public Accounting" including effective and/or last published dates as applicable.

(d) A holder who is engaged in the practice of public accounting outside the United States will not be subject to discipline by the Board for departing, with respect to such foreign practice, from any of the rules, so long as the holder's conduct is in accordance with standards of professional conduct applicable to the practice of public accounting in the country in which the holder is practicing. However, even in such a case, if a holder's name is associated with financial statements in such a manner as to imply that the holder is acting under circumstances that would entitle the reader to assume that United States practices are followed, the holder will be expected to comply with Rules of Professional Conduct governing auditing standards, accounting principles, accounting and review services and attestation standards.

(e) The authoritative standards that are referred to in this chapter are available from the AICPA, electronically at https://www.cpa2biz.com/Stores/AICPA; the FASB at www.fasb.org; the FASAB at www.fasab.org; or US Department of Labor, 200 Constitution Avenue NW, Washington DC, 20210; Government Auditing Standards may be accessed electronically at http://www.gao.gov. ; GASB at www.gasb.org. PCAOB standards may be accessed electronically at http:///www.pcaobus.org. IASB standards may be accessed at www.ifrs.org.

Section 2. Independence, Integrity and Objectivity .

(a) Independence Rule. A holder shall be independent in the performance of professional services as required by:

(i) standards promulgated by the AICPA Code of Professional Conduct, ET Section 55 and ET Section 101;

(ii) the Government Auditing Standards, Yellow Book ;

(iii) the standards issued by the PCAOB where applicable;

(iv) the standards issued by the US Department of Labor @29CFR 2509.75-9 where applicable;

(v) the standards issued by the IASB; and

(vi) similar other entities having generally recognized authority.

(b) Integrity and Objectivity Rule. In the performance of any professional service, a holder shall maintain objectivity and integrity, shall be free of conflicts of interest, and shall not knowingly misrepresent facts or subordinate his or her judgment to others.

(c) Commissions Rule. A holder shall not pay a commission to obtain a client or accept a commission from or on behalf of a client when the holder also performs for that client:

(i) an audit or review of a financial statement;

(ii) a compilation of a financial statement when the holder expects, or reasonably might expect, that a third party will use the financial statement and the holder's report does not disclose a lack of independence;

(iii) an examination of prospective financial information; or

(iv) any other service requiring independence.

(d) Contingent Fees Rule. Solely for purposes of this rule, fees are not regarded as being contingent if fixed by courts or other public authorities; or in tax matters, if determined based on the results of judicial proceedings or the findings of governmental agencies; or fees from services performed for other non-attest clients.

(i) A holder shall not offer to perform or perform professional services for a fee which is contingent upon the findings or results of such services when providing any of the services listed in subsection (c)(i) through (iv) of this section.

(ii) A holder shall not prepare an original or amended tax return or claim for a tax refund for a contingent fee for any client.

(e) Referral Fees. A holder may accept or pay a referral fee for the sale of services or products to a client if the holder does not perform any of the services listed in subsection (c)(i) through (iv) of this section.

(f) The prohibitions listed in subsections (c), (d) and (e) of this section shall apply during the period in which the holder is engaged to perform any of the services listed above and the period covered by any historical financial statements involved in the listed services.

(g) Disclosure of permitted commissions, contingent fees, or referral fees. A holder who is not prohibited by these rules from performing services or receiving commissions, contingent fees, or referral fees and who expects to be paid the fee shall make written disclosure in advance of accepting the engagement.

(h) This rule does not prohibit payments for the purchase of all, or a material part, of an accounting practice, or retirement payments to persons formerly engaged in the practice of public accounting, or payments to the heirs or estates of such persons.

Section 3. Competence and Technical Standards.

(a) Competence Rule. A holder shall not undertake any engagement for the performance of professional services which cannot reasonably be completed with due professional competence in a timely manner, including compliance, where applicable, with Rules of Professional Conduct governing auditing standards, accounting principles, accounting and review services and attestation standards.

(b) Auditing Standards Rule. Holders who perform auditing services shall comply with applicable generally accepted auditing standards. Applicable generally accepted auditing standards are :

(i) the standards and interpretations set forth in the AICPA Codification of Statements on Auditing Standards;

(ii) Government Auditing Standards issued by the United States Government Accountability Office;

(iii) standards issued by the PCAOB; where applicable;

(iv) the standards and interpretations set forth by the IASB;

(v) and other pronouncements having similar generally recognized authority are considered to be interpretations of generally accepted auditing standards, and departures there from must be justified by those who do not follow them.

(c) Accounting Principles Rule. A holder shall not express an opinion that financial statements are presented in conformity with generally accepted accounting principles (GAAP) if such financial statements contain any departure from accounting principles which has a material effect on the financial statements taken as a whole, unless the holder can demonstrate that, by reason of unusual circumstances, the financial statements would otherwise have been misleading. In such a case, the holder's report must describe the departure, the approximate effects thereof, if practicable, and the reason why compliance with the accounting principle would result in issuing a misleading statement. For purposes of this rule, GAAP and the applicable financial reporting frameworks are considered to be defined by pronouncements issued by:

(i) the (FASB)and its predecessor entities, as published in FASB Accounting Standards, Codification and Updates;

(ii) the GASB, and its predecessor entities, as published in the GASB Codification;

(iii) the FASAB and its predecessor entities, as published in the FASAB Handbook of Accounting Standards and Other Pronouncements;

(iv) the IASB and its predecessor entities, as published in the IFRS (including IFRS for SMEs)(the Red Book);

(v) and similar pronouncements issued by other entities having similar generally recognized authority.

(d) Accounting and Review Services Rule. A holder who performs accounting and review services shall conform to the professional standards applicable to such services. For purposes of this rule, such professional standards are considered to be defined by:

(i) Statements on Standards for Accounting and Review Services issued by the AICPA ; and

(ii) by similar pronouncements by other professional entities having similar generally recognized national and international authority.

(e) Attestation Standards Rule. A holder shall not be associated with assurances on representations other than historical financial statements unless such assurances have been made in accordance with:

(i) the Statements on Standards for Attestation Engagements issued by the AICPA;

(ii) or the Government Auditing Standards, where applicable.

(f) Other Professional Standards Rule: In performing tax services, personal financial planning, business valuation, litigation support and expert witness, and other management advisory or consulting services holders shall comply with the applicable professional standards for such services. For purposes of this rule, such professional standards are defined by:

(i) the Statements on Standards for Consulting Services, Statement on Standards for Tax Services, Statements on Responsibilities in Personal Financial Planning Practice, Statements on Standards for Valuation Services, Statements on Quality Control Standards and Statements on Continuing Professional Education Standards all of which are issued by the AICPA ;

(ii) the Governmental Auditing Standards where applicable;

(iii) the PCAOB where applicable ;

(iv) or by similar pronouncements by other entities having similar generally recognized authority.

Section 4. Responsibility to Clients .

(a) Confidential Client Information Rule. A holder shall not, without the consent of the client, disclose any confidential information pertaining to the client obtained in the course of performing professional services.

(i) This rule does not:

(A) relieve a holder of any obligation under the Auditing Standards Rules, the Accounting Principles Rules, the Accounting and Review Services Rules, the Attestation Standards Rule, and Other Professional Standards Rules (formerly Rules 202, 203, 205, 206 and 207);

(B) affect in any way a holder's obligation to comply with a validly issued subpoena or summons enforceable by order of a court;

(C) prohibit disclosures in the course of a quality review of a holder's professional services; or

(D) Preclude a holder from responding to any inquiry made by the Board or any investigative or disciplinary body established by law or formally recognized by the Board.

(ii) Members of the Board and professional practice reviewers shall not disclose any confidential client information which comes to their attention from holders in disciplinary proceedings or otherwise in carrying out their responsibilities, except that they may furnish such information to an investigative or disciplinary body of the kind referred to above.

(b) Records Rule. Within forty-five (45) days of the date a request is made for any of the records in subsections (i) through (iii) below, a holder shall either deliver originals or copies or provide access to the records. Once the holder has complied with these requirements there is no obligation to provide additional records.

(i) client records that were provided to the holder by or on behalf of the client;

(ii) client records prepared by the holder such as accounting or other records including but not limited to tax returns, general ledgers, subsidiary journals and supporting schedules such as detailed employee payroll records and depreciation schedules the holder was engaged to perform;

(iii) supporting records and information not reflected in the client's books and records that are otherwise not available to the client such as adjusting, closing, combining, or consolidating journal entries (including computations supporting such entries) that are produced by the holder during an engagement as these records may make financial information incomplete;

(iv) working papers such as audit programs, analytical review schedules, and statistical sampling results, analyses, and schedules prepared by the client at the request of the holder are the holders' property and need not be provided to the client unless imposed by some other contractual agreement or state or federal law or regulation.

(v) The information in subsections (i) through (iii) above shall be provided in the medium requested, written or electronic if prepared in that medium. The holder shall redact any confidential information that may be attached to paper or electronic records. The holder may make and retain copies of such documents when they form the basis for work performed by him or her and the holder is entitled to reasonable reimbursement for costs associated with providing records for the client.

(vi) If an engagement is terminated prior to completion for a particular year-end, the holder is required to return only client records. A certificate holder may require all fees due for the last completed engagement be paid before the information in (ii) and (iii) above is provided.

(vii) Record Retention: Absent any specific regulations or professional standards issued by governmental agencies or other agencies having generally recognized authority with jurisdiction over the holder's engagement, holders shall retain records for assurance and attest engagements no less than five (5) years from the date of completion of the engagement. All other records including tax related records must be retained for a minimum of three (3) years from the date of completion of the engagement. In the absence of regulations mentioned which define records, retained records shall include, but are not limited to, work papers and other documents that contain conclusions, opinions and analysis, or financial data related to the engagement. If the holder was engaged to perform services utilizing electronic systems, the holder shall ensure that the most current electronic records and three years of paper records (if created) are capable of being accessed in a usable, protected format and are safeguarded through sound computer security procedures to prevent unauthorized access to records. If a pending investigation exists, records shall not be destroyed until the Board has notified the holder in writing of the closure of the investigation or has issued a formal decision based on the investigation. The holder is under no obligation to provide software that may be attached to or associated with electronic records.

Section 5. Other Responsibilities and Practices .

(a) Discreditable Acts Rule. A holder shall not commit any act that reflects adversely on the holder's fitness to engage in the practice of public accounting. Acts which reflect adversely on one's fitness include but are not limited to:

(i) Adjudication as mentally incompetent;

(ii) Fiscal dishonesty of any kind;

(iii) Presenting as one's own a certificate, registration or permit issued to another;

(iv) Concealment of information regarding violations of the Act or Rules by other licensees when questioned or requested by the Board;

(v) Willfully failing to file a report or record required by state or federal law; willfully impeding or obstructing the filing of such report or record, or inducing another person to impede or obstruct such filing by another; and the making or filing of such a report or record which one knows to be false;

(vi) Negligence in the preparation of financial statements or records; or

(vii) Solicitation or disclosure of CPA examination questions.

(b) Acting Through Others Rule. A holder shall not permit others to carry out on the holder's behalf, either with or without compensation, acts which, if carried out by the holder, would place him or her in violation of the Rules of Professional Conduct.

(c) Advertising Rule.

(i) A holder shall not use or participate in the use of any form of public communication which contains a false, fraudulent, misleading, deceptive or unfair statement or claim. A false, fraudulent, misleading, deceptive or unfair statement or claim includes, but is not limited to, a statement or claim which:

(A) contains a misrepresentation of fact;

(B) is likely to mislead or deceive because it fails to make full disclosure of relevant facts;

(C) contains any testimonial, laudatory, or other statement or implication that the holder's professional services are of exceptional quality, which are not supported by verifiable acts;

(D) is intended, or likely to create, false or unjustified expectations of favorable results;

(E) implies educational or professional attainments, formal recognition as a specialist, or licensing recognition which cannot be verified;

(F) represents that professional services can or will be competently performed for a stated fee when this is not the case, or makes representation with respect to fees for professional services that do not disclose all variables that may reasonably be expected to affect the fees that will in fact be charged; or

(G) contains other representations or implications that in reasonable probability will cause an ordinarily prudent person to misunderstand or be deceived.

(H) A holder advertising to perform professional services via the Internet shall include the following information on the Internet:

(I) business or firm name;

(II) principal place of business address (physical location if different from mailing address);

(III) business phone; and

(IV) certificate number issued by the state of the certificate holder's principal place of business or if for a CPA firm the same information applicable to the firm.

(ii) A holder who maintains the certificate on inactive or retired status shall not hold out or participate in any form of public communication which constitutes advertising accounting services or references the CPA designation.

(d) Form of Practice Rule.

(i) Subject to all the provisions and restrictions of Board Rules and Regulations, a certificate holder may practice public accounting within a duly registered CPA Firm, or as an employee of a governmental entity, academic institution, or private industry.

(e) Firm Names Rule.

(i) A holder shall not practice public accounting under a firm name which is misleading in any way, as to the legal form of the firm, or as to the persons who are partners, members, officers or shareholders of the firm, or as to any matter with respect to which public communications are restricted by the Advertising Rule.

(A) Unless otherwise approved by the Board, firms may not register under

a firm name that includes names of individuals who have never been certified in any jurisdiction or names of individuals whose certificates are currently suspended or revoked.

(B) A CPA firm registered in compliance with W. S. 33-3-127 and Board rules and regulations that uses persons names within it may use the name(s) of current, retired or deceased owners, either alone or with other descriptive terms in its name.

(C) A CPA firm registered in compliance with W. S. 33-3-127 and Board rules and regulations may use an assumed or trade name if it is not misleading.

(D) The designation "and company" or "and associates" or similar terms will not be considered misleading when used in a firm name when a certificate holder or public accounting firm registered in compliance with W. S. 33-3-127 and Board rules and regulations,

has employees, professional associates, or contractual relationships with other professionals.

(ii) A firm may not designate itself as "Certified Public Accountants" unless it meets all the requirements to register under this act and the rules and regulations.

(iii) No misleading name may be adopted or used for any CPA Firm registered with the Board.

(f) Communications Rule.

(i) A holder shall, when requested, respond in writing to communications from the Board within thirty (30) days of the mailing of such communications by registered or certified mail unless provided with an alternate response due date.

(ii) A holder shall fully cooperate with the Board in connection with any inquiry it may make and is also obliged to comply with a lawfully issued subpoena.

(iii) A holder shall furnish all documentation required to support any application as requested by the Board.

(g) Prohibited Activities Rule.

(i) Unless the Board has granted a specific exemption, a holder who maintains the certificate on inactive or retired status is prohibited from providing any service defined in W. S. 33-3-109 or Chapter 1, Section 2(dd) of Board rules and regulations to any employer, client, other party or organization, or any entity not wholly owned by the holder.

(ii) This prohibition applies regardless of the assumption or use of the CPA designation in connection with services provided.

(iii) This prohibition applies regardless of compensation received or not received for services provided.

History

• Effective 2013-03-04

Chapter 7 Application Review, Complaints and Hearing Procedures

Wyo. Code R. 061.0001.7.10312011 Application Review, Complaints and Hearing Procedures

CHAPTER 7

APPLICATION REVIEW, COMPLAINTS,

AND HEARING PROCEDURES

Section 1. Authority . These rules are promulgated by authority of W.S. 33-3-101 et. seq. (cited as the "Certified Public Accountants' Act of 2005") and by the Wyoming Administrative Procedure Act (W.S. 16-3-101, et. seq.).

Section 2. Definitions . All of the definitions set forth in W.S. 33-3-101 et. seq., the Certified Public Accountants' Act; Chapter 1 of the Rules and Regulations; and W.S. 16-3-101 et. seq., the Wyoming Administrative Procedure Act, are herein incorporated by reference.

Section 3. Information . If any information concerning a possible violation of the act or rules is received or obtained by a board member or members of the staff; the Board may initiate proceedings on its own motion in accordance with this act and the Wyoming Administrative Procedure Act. Registrants will be notified of the proceedings initiated by the Board under this section.

Section 4. Application Review Process.

(a) Upon receipt of a completed application, the Board Office shall review the application and if it is complete and, if there are no known grounds for denial of the license or examination requested, issue the license or approve candidate for examination. If there are known grounds for denial, the Board Office shall forward the application to the Application Review Committee (ARC).

(b) The ARC shall review the application and all other information available and following the review may:

(i) Approve the application if the applicant meets all requirements; or

(ii) If there are questions as to whether denial is appropriate, forward the application and an ARC report to the Assistant Attorney General assigned to the Board for prosecution to review.

(c) If, after review, the ARC and Assistant Attorney General recommend denial of an application:

(i) A preliminary denial letter shall be sent to applicant. The letter shall:

(A) State the basis for the denial including relevant statutes and rules; and

(B) Advise the applicant of the right to request reconsideration.

(ii) If the applicant fails to request reconsideration in writing within 30 days of the date of the preliminary denial letter, the preliminary denial becomes final.

(iii) If the applicant requests reconsideration within thirty (30) days, a reconsideration conference shall be held with the ARC, the Assistant Attorney General, and the applicant.

(iv) Following a reconsideration conference, the ARC shall either approve or deny the application.

(v) If denied, the applicant must submit a written request for a hearing within thirty (30) days of the date of the denial letter.

(d) Application denial hearings

(i) An application denial hearing is a formal contested case hearing conducted pursuant to the Wyoming Administrative Procedure Act.

(ii) The hearing is to be conducted in the presence of a quorum of the board, with a hearing officer presiding.

(iii) The applicant has the burden of proving that he/she meets all requirements for the license or examination requested.

(e) The ARC shall not take part in the consideration of any contested case.

(f) The ARC shall not, by this rule, be barred from attending any disciplinary hearing.

Section 5. Complaints.

(a) A disciplinary action is initiated against a license holder by submitting a written complaint to the Board office. A complaint concerning an alleged violation of the Act or Board Rules may be submitted by any person or entity, a Board member, or a Board staff member. The written complaint should provide as much of the following information as may be available and applicable:

(i) The name and address of the complainant;

(ii) The name, address, place of employment, and telephone number of the license holder against whom the charges are made;

(iii) The specific conduct alleged to constitute the violation;

(iv) The name and address of any other witnesses; and

(v) The signature of the complainant.

(b) Upon receipt of a complaint, Board staff shall assign a docket number and record the docketed matter in the docket register provided for such purpose.

Section 6. Review of Written Complaint.

(a) Written complaints shall be referred to an Investigative Board Member (IBM) selected by Board staff from a rotating schedule. License holders against whom charges are made will be advised of the investigation, the name of the IBM, and the nature of the complaint.

(i) The IBM shall not take part in the consideration of any contested case.

(ii) The IBM shall not, by this rule, be barred from attending any disciplinary hearing.

Section 7. Investigations and Board Action . The IBM and Board staff shall investigate written complaints set for further investigation or proceedings initiated by the Board on its own motion.

(a) Upon completion of the investigation, the IBM shall prepare an investigative report which shall in include:

(i) The findings;

(ii) A list of statutes and/or Board rules believed to have been violated;

(iii) Any relevant additional information.

(b) The IBM shall forward the report and his/her recommendations to the Assistant Attorney General assigned to the Board for prosecution, and consult with the Assistant Attorney General.

(c) Following consultation with the Assistant Attorney General, the IBM may:

(i) prepare and file a formal petition and notice of hearing setting the matter for a contested case hearing before the Board;

(ii) recommend the Board issue an advisory letter to the registrant;

(iii) recommend the Board require a specific future program or schedule of continuing professional education;

(iv) recommend the Board require the registrant to undergo peer review not otherwise required by Chapter 9 of the Rules and Regulations;

(v) recommend the Board accept an offer of conditional terms for settlement; or

(vi) recommend the Board dismiss the matter.

(d) The Board may resolve a complaint at any time by:

(i) sending a written advisory letter to the license holder;

(ii) accepting a voluntary surrender of a certificate, permit, or practice privilege;

(iii) accepting conditional terms for settlement;

(iv) dispensing with it in an informal manner; or

(v) dismissal.

(e)  The Board may resolve a complaint after notice and formal hearing by:

(i) revoking or suspending a certificate, permit or practice privilege;

(ii) refusing to renew a certificate, or permit;

(iii) reprimanding or censuring a certificate, permit or practice privilege;

(iv) limiting the scope of practice of a license holder;

(v) placing a license holder on probation;

(vi) requiring a license holder to complete a specific continuing professional education program;

(vii) requiring a license holder to undergo peer review; or

(viii) dismissal.

Section 8. Service of Notice and Opportunity to Show Compliance . Prior to commencement of a formal hearing, the IBM shall give notice by mail to the license holder of the facts or conduct which warrant the intended action. The notice shall give the registrant an opportunity to show compliance with all lawful requirements for retention of registration within twenty (20) business days of receipt of the notice. Such notice shall be sent to the license holder's last known address by certified mail with return receipt requested and by first class mail.

Section 9. Formal Hearing Procedures.

(a) Formal proceedings for a hearing before the Board regarding action against a license holder shall be commenced by petition and notice of hearing, served in person or by both certified mail and first class mail to the address last known by the Board at least thirty (30) days prior to the date set for the hearing. Notice shall contain at least:

(i) the name and address of the license holder;

(ii) a statement, in ordinary and concise language, of the nature of the complaint filed with the Board, and the facts upon which the complaint is based, as well as the specific statutes or the Board rules and regulations alleged to have been violated;

(iii) the time, place, and nature of the hearing;

(iv) that the hearing is being held pursuant to the Board's authority under W.S. 33-3-123 or 33-3-124; and

(v) the license holder shall file an Answer or Notice of Appearance, which must be received by the Board at least ten (10) working days prior to the date set for hearing, or the license holder will be in default.

(b) All formal disciplinary hearings held by the Board shall be open to the general public.

Section 11. Extensions and Continuance. For good cause shown, extensions and continuances may be granted or denied at the discretion of the Board, or the hearing officer.

Section 12. Default . The Board may enter an order based on the allegations in a petition in any case where the applicant or license holder has not answered or appeared in writing ten (10) working days before the hearing, or in any case in which the applicant or license holder or his/her representative has not appeared at a scheduled hearing for which they had notice.

Section 13. Hearing Officer . The Board may appoint a hearing officer to take evidence at the hearing. A Board member may serve as the hearing officer. If the case is heard before the Board, the chairman may preside.

Section 14. Discovery . In all formal proceedings before the Board, discovery shall be afforded in accordance with the Wyoming Administrative Procedure Act.

Section 15. Subpoenas.

(a) A Board member or the hearing officer may issue subpoenas for the attendance of witnesses and for the production of books, records, documents, and other evidence, and shall have the power to administer oaths.

(b) Service of a subpoena must be made at the expense of the party applying for it and shall be made in the manner provided by law for service of subpoenas in civil actions.

Section 16. Witnesses .

(a) All persons testifying at any hearing before the Board shall be administered a standard oath.

(b) No testimony will be received from a witness except under oath or affirmation.

(c) The party calling a witness shall bear the costs associated with his/her appearance.

(d) The Board and hearing officer shall have an opportunity to examine any witness.

Section 17. Representation .

(a) Any license holder may represent him/herself or be represented by counsel, provided that such counsel is licensed to practice law in the State of Wyoming, or is associated at the hearing with one or more attorneys licensed to practice law in the State of Wyoming.

(b) A request for withdrawal from representation by an attorney shall be submitted to the Board in writing.

(c) In any case before the Board, an appearance in person or the filing of an answer shall constitute an appearance of record by an attorney.

(d) The Assistant Attorney General assigned to the Board for prosecution shall present all matters in a contested case on behalf of the IBM.

(e) In all matters before the Board, the Board may request the Attorney General, a representative of his staff, or a specially appointed person to be present throughout the hearing to assist and advise.

Section 18. Pre-hearing Conference.

(a) The hearing officer may direct the parties to appear before him/her to consider:

(i) the issues;

(ii) amending the pleadings;

(iii) the possibility of obtaining admissions of fact and of documents to avoid unnecessary proof;

(iv) formulating procedures to govern the hearing; or

(v) such other matters as may aid in the disposition of the case.

(b) Prehearing conferences shall be conducted informally. An order will be prepared which recites the actions taken at the conference, amendments allowed, agreements of the parties and the issues to be determined at the hearing.

Section 19. Order of Procedure at Hearing. The hearing will be conducted in substantially the following order:

(a) Opening announcements are made by the hearing officer, including case name and docket number, the issue(s) to be considered, parties and counsel present, and subpoenas issued;

(b) Witnesses should be identified and sworn;

(c) Opening statements may be made at the discretion of the hearing officer. In cases of license denial, the applicant should go first. In disciplinary cases the IBM should go first;

(d) Presentation of Evidence. The order above will be followed with each party, the hearing officer, and the Board having the opportunity to cross-examine the witnesses. Rebuttal evidence may be presented;

(e) Exhibits offered in evidence by the applicant or the license holder will be marked with the letters of the alphabet. Those offered by the IBM will be marked numerically;

(f) Closing arguments may be made at the discretion of the hearing officer. Time may be limited, the order of presentation is as above, and brief rebuttal time may be allowed. The hearing and the evidence are then closed, unless reopened by the hearing officer for good cause shown.

Section 20. Decisions .

(a) Proposed Decisions:

(i) At the discretion and direction of the Board, the parties may file proposed findings of fact, conclusions of law, and order after the hearing and before the deadline announced in the hearing's closing announcements.

(ii) At the discretion and direction of the Board, the hearing officer shall prepare proposed findings of fact, conclusions of law, and order.

(b) Final Decisions. Proposed decisions will be given consideration but are not binding upon the Board. All final decisions will be issued by the Board and shall be based exclusively upon the evidence in the record and matters officially noticed. All final decisions issued by the Board shall be served to all parties by first class mail sent to their last known address.

Section 21. Findings .

(a) Revocations and Suspensions:

(i) Upon conclusion of a hearing or after a written decision has been entered by the hearing panel, the Board shall communicate the information to the following parties or locations as applicable:

(A) Original Complainant;

(B) Internal Revenue Service;

(C) Wyoming State Department of Audit;

(D) Applicable national disciplinary information system;

(E) Wyoming Society of CPAs;

(F) American Institute of Certified Public Accountants;

(G) Foreign Licensing Authority;

(H) Recipients of the Board newsletter;

(I) The Wyoming Board's Web site;

(J) Cognizant Federal Agencies;

(K) The Public Company Accounting Oversight Board;

(L) Local and regional Wyoming newspapers; and

(M) Any other state Board of Accountancy as applicable.

(b) Consent Agreements, Settlements, Other:

(i) Results of consent agreements, settlements, and other final decisions entered by the Board shall become a part of the public record pursuant to the content and terms of the agreement. Unless otherwise provided in the agreement or directed by the Board, these results shall be reported as in subsection (a)(i) of this section.

(ii) Settlement agreements or other final decisions entered by the Board which involve a practice restriction shall be reported as in (a)(i) above.

(c) Record:

(i) Unless otherwise provided in this section, a copy of the Board's final decision filed as a result of formal proceedings heard or settled by the Board, shall be placed in the public file and acted upon pursuant to the Board's legal retention schedules.

(ii) Investigation records are not public pursuant to W. S. 16-4-203 (a)(ii) and W. S. 16-4-203 (b)(i). The custodian shall deny requests for the right of inspection of investigative records. Any person denied the right to inspect may apply to the district court pursuant to W. S. 16-4-203(f). The investigative file shall be retained in a private file in accordance with the Board's legal retention schedules. The Board may share investigative records with other law enforcement agencies including other state accountancy boards.

(iii) Advisory letters and dismissal notices issued prior to hearing are not public information and shall be retained in a private file in accordance with the Board's legal retention schedules.

Section 22. Appeals. A Petition for Judicial Review of the Board decision may be filed in the district court in accordance with the Wyoming Rules of Appellate Procedure.

Section 23. Transcript. If a Petition for Judicial Review is filed in the district court, the petitioner shall either arrange for the preparation and pay for the transcript of the testimony, or reimburse the Board for the cost of the transcript if previously prepared at Board expense.

Section 24. Reinstatement of the Certificate, Permit, or Practice Privilege.

(a) The Board shall hold hearings to consider the written requests to reinstate certificates, permits, or practice privileges that have been suspended or revoked by prior Board action.

(i) Completed reinstatement applications must be accompanied by a written statement which outlines good cause for the reinstatement, a reinstatement fee as set forth in Chapter 1, Section 12, plus applicable firm permit fees.

(ii) Reinstatement hearings shall be scheduled during the regularly scheduled Board meetings to the extent possible. Written reinstatement applications must be received in the Board office no later than forty-five (45) days prior to the scheduled meeting.

(iii) The Board may require additional documentation be submitted to substantiate compliance with other regulatory requirements, including but not limited to:

compliance with probationary terms, compliance with continuing professional education, or peer review.

(iv) The Board shall advise all applicable entities listed in Section 20 (a)(i) of this Chapter of reinstatement actions entered under this section.

Section 25. Return of Certificate or Permit . Any certificate or permit that has been revoked or suspended shall be returned to the Board office with fifteen (15) business days of receipt of notification of suspension or revocation. If a certificate has been lost or destroyed, the holder shall submit an Affidavit of Lost/Destroyed CPA Certificate to the Board's office.

7-10

History

• Effective 2011-10-31

Chapter 8 Petitions for Rule Making

Wyo. Code R. 061.0001.8.10282019 § 1 Authority

This Chapter is adopted pursuant to Wyoming Statute 16-3-106.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.8.10282019 § 2 Form of Petition

.

(a) The Board will consider written requests that could reasonably be construed as requests to change rules when presented as follows:

(i) Requests must provide concise language regarding whether the recommended rule is to promulgate a new rule, amend a current rule, or repeal a rule;

(ii) The specific rule must be identified by chapter and section;

(iii) Specific information outlining relevant data, views, and arguments must be included in the written request.

History

• Effective 2019-10-28

Chapter 9 Peer Review

Wyo. Code R. 061.0001.9.04072022 § 1 Authority

The rules are promulgated pursuant to W.S. 33-3-108(a)(ii).

History

• Effective 2022-04-07

Wyo. Code R. 061.0001.9.04072022 § 2 Definitions

(a) "Administering Entity (AE)" means an entity approved by a Board-approved sponsoring organization to administer the Board-approved peer review program.

(b) "Peer Review Oversight Committee" (PROC) - means a Board-appointed committee of at least three licensed CPAs, none of whom is a current member of the Board, for the purpose of monitoring the Board-approved peer review program, including sponsoring organizations' AE's, to provide reasonable assurance that AEs and respective Peer Review Committee and Report Acceptance Bodies are functioning in a manner that effectively enforces the performance and reporting of peer review in accordance with peer review standards.

(c) "Sponsoring Organization" means a Board-approved professional association, society, or other organization responsible for the facilitation and administration of peer reviews directly or through its Administering Entities and responsible for the oversight of the Administering Entities pursuant to the sponsoring organization's peer review standards.

History

• Effective 2022-04-07

Wyo. Code R. 061.0001.9.04072022 § 3 Enrollment in Board-approved peer review program

(a) CPA firms permitted under W.S. 33-3-118(a) whose accounting and auditing practice includes one or more engagements performed under the AICPA's Statements on Auditing Standards (SAS), Statements on Standards for Accounting and Review Services (SSARS), Statements on Standards for Attestation Engagements (SSAEs), or Government Auditing Standards issued by the United States Governmental Accountability Office are subject to review under the requirements of a practice monitoring program at least once every three and one-half (3.5) years.

(i) CPA firms who perform accounting and auditing engagements as set forth in paragraph (a) above for clients with a home office in Wyoming are subject to review under the requirements of a practice monitoring program at least once every three and one-half (3.5) years.

(ii) A CPA firm is not required to enroll in a Board-approved peer review program if its only level of service is performing preparation of financial statements (with or without disclaimer reports) under SSARs. If the firm elects to enroll in a Board-approved peer review program, it is required to have a peer review that includes preparation of financial statements within the scope of the review.

(b) At the time an accounting or auditing engagement as set forth in (a), a CPA firm is subject to practice monitoring. The CPA firm's designated certificate holder (DCH) shall, within thirty (30) days of the date of the acceptance of the engagement:

(i) Notify the Board of the change in the scope of practice of the firm; and

(ii) Enroll the firm in a Board-approved peer review program and undergo a review as required under the peer review standards and administrative procedures established by the administering entity. The DCH shall send a copy of an enrollment letter to the Board office within thirty (30) days of the enrollment date.

(c) In the event that two (2) or more firms are merged or combined, the resulting firm shall have the peer review year of the firm with the largest number of accounting and auditing hours or the peer review year of the firm as otherwise directed by the AE. The DCH shall notify the Board office within thirty (30) days of any change by the AE to the firm's due date if it differs from that on record with the Board.

(d) In the event that a firm is divided due to dissolution or separation, the new firm(s) retains the review year of the former firm unless otherwise specified by the AE. The new firm(s) shall enroll in the program under the name of the new firm(s). Each firm shall notify the Board office within thirty (30) days of any change by the AE to the firm's due date if it differs from that on record with the Board.

History

• Effective 2022-04-07

Wyo. Code R. 061.0001.9.04072022 § 4 Requirements for Review

(a) A firm enrolled in a Board-approved peer review program shall schedule, undergo, and complete its initial peer review in compliance with the sponsoring organization's peer review standards and related guidance. A firm's initial peer review is due eighteen (18) months from the date it enrolled or should have enrolled in a Board- approved peer review program. The "due date" is a date by which a review has taken place and all materials have been submitted to the AE.

(b) A firm enrolled in a Board-approved peer review program shall schedule, undergo, and complete its subsequent peer review in compliance with the sponsoring organization's peer review standards and related guidance. Ordinarily, a firm's subsequent peer reviews shall be due such that the peer review has taken place and all peer review materials are submitted to the AE within three and one-half (3.5) years from the peer review year-end of the previous peer review.

(c) The Board may accept extensions for CPA firms undergoing peer reviews granted by AEs provided that the Board is notified in writing and the AE extension letter is provided by the DCH within thirty (30) days from the date that the AE granted the extension.

(d) The DCH shall submit requests for extensions of time to undergo a peer review not already granted by the AE, to the Board in writing no later than the earlier of a firm's renewal date or original peer review due date. The DCH shall notify the AE of any Board-approved extensions. The Board may grant an extension for the following reasons:

(i) Health;

(ii) Military Service; or

(iii) Other good cause outside of the control of the reviewed firm.

(e) All reviews shall be carried out in conformity with the AICPA's Standards for Performing and Reporting on Peer Reviews as of June 1, 2021 with Peer Review Standards Interpretations issued through June 1, 2021 or the Public Company Accounting Oversight Board's (PCAOB) firm inspection standards for firms that audit public companies under federal law.

(f) Reviews shall be carried out under the supervision of one of the following administering entities:

(i) The AICPA Peer Review Board's National Peer Review Committee;

(ii) A CPA society or group of state CPA societies fully involved in the administration of the AICPA's peer review program;

(iii) Other entities fully involved in the administration of the AICPA's peer review program approved by the AICPA Peer Review Board;

(iv) Any other entities whose Bboard-approved Peer Review Program is governed by the AICPA Standards for Performing and Reporting on Peer Reviews; or

(v) The PCAOB.

(g) The Board recognizes the PCAOB's inspection process for reviewing practices subject to its authority, which are not included in the scope of peer review programs. Firms subject to inspection by the PCAOB are also required to meet the peer review requirements under a Board- approved peer review program that covers the portion of the practice unit's practice not subject to the PCAOB permanent inspection.

(h) The Board may contact the administering entity to verify the validity of the documentation submitted by the registrant.

(i) In the event that the firm is no longer providing services required to be peer reviewed by this chapter, the DCH shall:

(i) Notify the Board that the firm's scope of practice has changed and provide the date of the last service required to be peer reviewed was performed;

(ii) Notify the administering entity of the scope of practice change and submit any final peer review that entity requires before the firm withdraws from the program; and

(iii) Complete a final peer review if services required to be peer reviewed as outlined in section 3 were provided by the CPA firm during the period which would be under review if the firm continued with the program.

History

• Effective 2022-04-07

Wyo. Code R. 061.0001.9.04072022 § 5 Reporting to the Board

(a) A firm that enrolls or is required to enroll in a practice-monitoring program shall opt into the Facilitated State Board Access, as administered by the American Institute of Certified Public Accountants, or other national uniform system approved by the Board.

(b) CPA firms that receive a report designated as a "Pass," shall provide, no later than sixty (60) days after a CPA firm is notified of the AE's acceptance:

(i) A copy of the peer review report that has been accepted by the AE; and

(ii) The acceptance letter from the AE.

(c) CPA firms that receive a report designated as a "Pass with Deficiencies" or "Fail," shall notify the Board of the rating, in writing, no later than thirty (30) days after a CPA firm is notified of the rating or notified of the AE's acceptance, whichever occurs first, and provide:

(i) A copy of the peer review report that has been accepted by the AE within thirty (30) days of the AE's acceptance;

(ii) The firm's letter of response accepted by the AE, if applicable, within thirty (30) days of the AE's acceptance;

(iii) The acceptance letter from the AE, within thirty (30) days of the AE's acceptance;

(iv) Letter(s) signed by the firm accepting the documents with the understanding that the firm agrees to take any actions required by the AE, within thirty (30) days from the date the letter is signed by the firm; and

(v) The letter signed by AE notifying the firm that required actions have been appropriately completed, if applicable, within thirty (30) days from the date of the letter.

(d) CPA firms that are required to register with and are subject to inspection by the PCAOB and receive an inspection report by the PCAOB, shall provide no later than sixty (60) days after the report is issued:

(i) A copy of any final report;

(ii) Documentation of any significant issues and findings; and

(iii) The registrant's or CPA firm's response.

(e) A registrant employed by state or federal government or political subdivision thereof and who provides services that subject him to peer review under this chapter is not required to submit reports to the Board under this section.

History

• Effective 2022-04-07

Wyo. Code R. 061.0001.9.04072022 § 6 Findings

(a) If the report is designated "Pass," the Board shall take action to formally accept the peer review results provided the review was conducted in accordance with this chapter.

(b) If the report is designated "Pass with Deficiencies" or "Fail," the Board, after taking into consideration the reported deficiencies and any remedial action since the issuance of such peer review report, may:

(i) Require deficiencies be corrected within a specified time period, and may require evidence that the deficiencies were corrected;

(ii) Require that the CPA firm to undergo a peer review prior to the next regularly scheduled review;

(iii) Require the the CPA firm undergo preissuance review. The preissuance review CPA engaged by the firm shall submit a report of the findings to the Board within thirty (30) days of completing the services. The firm shall bear the cost of the preissuance review;

(iv) Require that the CPA firm undergo, by a board-approved CPA, a board-prescribed system review of the firm's work product and practices or perform other investigative procedures to assess the degree or pervasiveness of nonconforming work product. The board-approved CPA engaged by the firm shall submit a report of the findings to the Board within thirty (30) days of completing the services. The firm shall bear the cost of the board-prescribed on-site review, or other board-prescribed procedures;

(v) Require the firm to develop quality control procedures;

(vi) Require certificate holders employed by or associated with the registrant or CPA firm to complete continuing education in areas of deficiency, or as specified by the Board, and provide evidence of completion to the Board office;

(vii) Require the registrant or CPA firm to maintain a minimum library of resource material;

(viii) Require the registrant or CPA firm to provide copies of interim inspection reports; or

(ix) Require any other action that will effectuate the purpose of this chapter.

(c) If the registrant or CPA firm fails to comply with requirements established by this chapter, the Board may proceed with disciplinary action pursuant to W.S. 33-3-123 and Chapter 7 of the rules.

(d) Based on its review of the documents submitted pursuant Section 5 and any disciplinary proceeding, the Board may impose additional corrective actions such as probation, practice limits, additional continuing education, pre-issuance reviews, more frequent peer reviews, and other measures constituting discipline against the reviewed firm and any individual licensees employed or contracted by the reviewed firm.

History

• Effective 2022-04-07

Wyo. Code R. 061.0001.9.04072022 § 7 Peer Review Committee

Each year the Board shall appoint a Board member(s) to serve as the Peer Review Committee (PRC). This committee shall review the peer review results and required documentation of registrants or CPA firms with peer reviews resulting in a "Pass with Deficiencies" or "Fail" rating and make recommendations to the Board consistent with the Board's options under Section 6(b).

History

• Effective 2022-04-07

Wyo. Code R. 061.0001.9.04072022 § 8 Peer Review Oversite Committee

(a) The Board may establish a Peer Review Oversight Committee (PROC) to:

(i) Monitor a board-approved peer review program, including sponsoring organizations' administering entities, to ensure that peer reviews are being conducted and reported in accordance with peer review minimum standards;

(ii) Review the policies and procedures of an organization applying to the Board to become a sponsoring organization to ensure that such policies and procedures conform with peer review minimum standards; and

(iii) Meet with an AE's Report Acceptance Body during consideration of the peer review documents;

(iv) Report to the Board any conclusions or recommendations based on the functions performed pursuant to subsections (i) through (iii) of this section.

(b) The PROC members shall:

(i) Not include individuals who have a conflict of interest under applicable law;

(ii) Be subject to removal or replacement by the Board at its discretion; and

(iii) Be required to sign a confidentiality agreement indicating they will not divulge any information to the Board that would identify any firm, licensee, or peer reviewer or reviewing firm as a result of their monitoring the peer review process.

(c) The PROC may:

(i) Visit the Administering Entity (AE) of the approved peer review program;

(ii) Review sponsoring organization procedures for administering the program;

(iii) Meet with an AE's Report Acceptance Body during consideration of the peer review documents; and

(iv) Review the AE's compliance with its program.

(d) The Board may arrange to participate in a regional PROC. If the Board participates in a regional PROC, the regional PROC has the authority and shall perform the functions set forth in (a) through (c).

History

• Effective 2022-04-07

Wyo. Code R. 061.0001.9.04072022 § 9 Records

Copies of documents provided to show compliance with this Chapter are privileged and shall be purged from the Board's files in accordance with the Board's retention schedules.

History

• Effective 2022-04-07

Wyo. Code R. 061.0001.9.04072022 § 10 Practice Privilege Firms

Registrants or CPA firms that operate under practice privileges and firm mobility that provide services as defined in Section 13(a)(i) of this chapter must comply with peer review requirements as follows:

(a) AICPA members and other registrants or CPA firms whose principle place of business requires them to comply with peer review shall comply with the requirements imposed by the AICPA, PCAOB, other board-approved AEs, or the applicable state law and are not required to submit reports to the Wyoming Board as set forth in section 4 5 of this chapter.

(b) Non-AICPA member registrants or CPA firms whose principle place of business is in a state that does not require peer review as a regulatory requirement or other registrants or CPA firms who are not required to comply with peer review in their principal places of business shall submit reports to the Board as set forth in section 5of this chapter.

(c) Any registrant or CPA firm not required to submit reports to the Board shall maintain records of participation in a qualified peer review organization and shall provide copies of the firm's peer review records upon the Board's written request.

History

• Effective 2022-04-07

Wyo. Code R. 061.0001.9.04072022 § 11 Incorporation by Reference

(a) The Board hereby incorporates by reference the following uniform rules which are referred to throughout the rules:

(i) AICPA's Standards for Performing and Reporting on Peer Reviews effective June 1, 2021 found at: https://drive.google.com/file/d/1r3_lXXS_YYX2-ihtDfZL7iFcOAJzVUYg/view?usp=sharing

(ii) AICPA's Peer Review Standards Interpretations issued through June 1, 2021 found at: https://drive.google.com/file/d/1NF3Dk42HkHAv6sk4zM9BzHuiGfVlFAjk/view?usp=sharing

(iii) AICPA's Supplemental Guidance issued through June 1, 2021 found at: https://drive.google.com/file/d/1prwXVOsHjk-VRxXYKj2lBi6h3xoIQ-AV/view?usp=sharing

(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)-(ii); 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.

History

• Effective 2022-04-07

Chapter 10 Practice Privileges

Wyo. Code R. 061.0001.10.10282019 § 1 Authority

These rules are promulgated pursuant to W.S. 33-3-108(a)(v).

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.10.10282019 § 2 Qualification Determinations

. Qualifications may be established by NASBA's National Qualification Service. NASBA's qualification determinations can be accessed at http://www.nasbatools.com/display_page?id=105. Those qualified under sections 2 or 3 below may practice in Wyoming without obtaining a Wyoming certificate or paying a fee.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.10.10282019 § 3 State Qualifications

Persons who hold active certificates in their principal places of business in a state that has been deemed substantially equivalent by NASBA's National Qualification Service may practice accounting as a certified public accountant in Wyoming through practice privileges when their principal place of business is not in Wyoming.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.10.10282019 § 4 Individual Qualifications

Persons who have passed the Uniform CPA examination prior to January 1, 2012, hold active certificates in their principal places of business, and the certificates were awarded based on completing at least one year of experience within five years of the certificate date, may practice accounting as certified public accountants in Wyoming through practice privileges when their principal place of business is not in Wyoming.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.10.10282019 § 5 Certificates

Persons who currently hold Wyoming certificates and

qualify for practice privileges may continue to maintain the certificate on active status in Wyoming in lieu of availing themselves of practice privileges.

(a) Persons who elect to avail themselves of practice privileges and allow the certificate to expire or surrender the certificate pursuant to chapter 3, section 8 of these rules may activate the certificate by complying with the provisions set forth in chapter 3, section 5(e)(ii) of these rules.

(b) Persons practicing under this chapter may not place the Wyoming certificate on inactive or retired status.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.10.10282019 § 6 Firms

Firms that are not required to register pursuant to chapter 4 of the regulations may practice in Wyoming without a permit if the services are performed by individuals certified in Wyoming or by individuals who qualify for practice privileges and the firm does not have an office located in Wyoming.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.10.10282019 § 7 Internet Practice

An individual or firm using practice privileges and advertising professional services via a website shall disclose the state of his principal place of business, his license or certificate number, a physical and mailing address, and a phone number where he may be contacted by the general public or regulators.

History

• Effective 2019-10-28

Wyo. Code R. 061.0001.10.10282019 § 8 Conditions of Practice Privileges

An individual registrant of another state exercising privileges afforded under W.S. 33-3-116(a)(i), and the firm that employs the registrant, simultaneously consent as a condition of the grant of this privilege:

(a) To the personal and subject matter jurisdiction and disciplinary authority of the board;

(b) To comply with the certified public accountants' act and any board rules;

(c) That in the event the license from the state of the individual's principal place of business is no longer valid, the individual will cease offering or rendering professional services in this state individually and on behalf of a firm; and

(d) To the appointment of the state board which issued his license as his agent upon whom process may be served in any action or proceeding by the Wyoming board against the registrant.

History

• Effective 2019-10-28

Chapter 11 Statements on Standards Relative to the Practice of Public Accounting

Wyo. Code R. 061.0001.11.03042013 Statements on Standards Relative to the Practice of Public Accounting

CHAPTER 11

STATEMENTS ON STANDARDS RELATIVE TO THE PRACTICE OF PUBLIC ACCOUNTING

Section 1. Adoption of Statements on Standards.

(a) As required by W.S. 33-3-102(a)(vi) the following standards are adopted:

(i) Standards promulgated by the American Institute of Certified Public Accountants (AICPA), Code of Professional Conduct, ET Section 55 and ET Section 101 as of June 1, 2012;

(ii) Codification and Updates issued by the Financial Accounting Standards Board (FASB) and its predecessor entities;

(iii) The Government Auditing Standards, Yellow Book as of December, 2011;

(iv) The Federal Accounting Standards Advisory Board (FASAB) Accounting Standards and Other Pronouncements, As Amended (FASAB Handbook) as of June 30, 2011;

(v) Governmental Accounting Standards Board (GASB) pronouncements with various effective dates last published June, 2012;

(vi) The International Accounting Standards Board (IASB) standards effective January 1, 2012;

(vii) The standards issued by the Public Company Accounting Oversight Board (PCAOB) with various effective dates last published March 30, 2012 where applicable;

(viii) The standards issued by the U.S. Department of Labor @29CFR 2509.75-9 where applicable;

(ix) The standards issued by the International Accounting Standards Board (IASB) and its predecessor entities as published in the International Financial Accounting Standards (IFRS) (including IFRS for SMEs) (the Red Book) as of January 1, 2012;

(x) The Statement on Standards for Accounting and Review Services issued by the AICPA as of June 1, 2012;

(xi) The Statement on Standards for Attestation Engagements issued by the AICPA as of June 1, 2012;

(xii) The Statement on Standards for Consulting Services; Statement on Standards for Tax Services, Statements on Responsibilities in Personal Financial Planning Practice, Statements on Standards for Valuation Services, Statements on Quality Control Standards and Statements on Continuing Professional Education Standards all of which are issued by the AICPA as of June 1, 2012;

(xiii) Similar other entities having generally recognized authority.

(b) All standards reference in this chapter and applicable interpretations thereto, are adopted by the Board and do not include any later amendments or editions than specifically referenced in compliance with the Wyoming Administrative Procedure Act.

(c) Copies of the authoritative Standards referenced in this chapter are readily available to the public and are available as follows:

(i) AICPA standards available electronically at www.cpa2biz.com/Stores/AICPA;

(ii) Governmental Auditing Standards (Yellow Book) available electronically at www.gao.gov;

(iii) FASAB standards available electronically at www.fasab.gov;

(iv) GASB pronouncements available electronically at www.gasb.org;

(v) IASB standards available electronically at www.ifrs.org;

(vi) PCAOB standards available electronically at www.pcaob.org;

(vii) Standards issued by the U.S. Department of Labor available by mail at 200 Constitution Avenue NW, Washington DC, 20210.

History

• Effective 2013-03-04