061-6 Wyo. Code R. §§ 6-1 - 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 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 athttp://www.pcaobus.org IASB standards may be accessed at http://www.ifrs.org.

Notes

061-6 Wyo. Code R. §§ 6-1