Wyoming Administrative Code › Agency 061 - Accountants, Board of Certified Public › Sub-Agency 0001 - Accountants, Board of Certified Public › Chapter 6 - RULES OF PROFESSIONAL CONDUCT › Section 6-1 - Preamble

Current through July 13, 2024
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
http://www.fasb.org/
the FASAB at
http://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 http://www.gasb.org. PCAOB standards may be
				accessed electronically at
http://www.pcaobus.org
IASB standards may
				be accessed at
http://www.ifrs.org
.