§ 33-3-201 — Accountants; liability; definitions

Wyoming § 33-3-201

• Jurisdiction: Wyoming
• Title 33: Professions and Occupations
• Ch. 3: ACCOUNTANTS
• Art. 2: ACCOUNTANT LIABILITY

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(a) As used in this article, "accountant" means:
(i) Any individual holding a certificate as a
certified public accountant under W.S. 33-3-109;
(ii) Any individual holding a practice privilege
under W.S. 33-3-116;
(iii) Any certified public accountant firm registered
with the state board of certified public accountants under W.S.
33-3-118;
(iv) Any firm that is exempt from registration
pursuant to W.S. 33-3-118(b)(xiv) or (xv); or
(v) Any employee, agent, partner, manager, member,
officer or shareholder of any partnership, corporation or any
other allowable form of organization registered with the state
board of certified public accountants.
(b) This section governs any action based on an act, error
or omission occurring on or after July 1, 1995 brought against
any accountant or firm of accountants practicing in this state
by any person claiming to have been injured as a result of
financial statements or other information examined, compiled,
reviewed, certified, audited or in the course of an engagement
to provide other public accountancy services.
(c) No action may be brought under this section unless:
(i) The plaintiff:
(A) Is the issuer, or his successor, of the
financial statements or other information examined, compiled,
reviewed, certified, audited or otherwise reported or opined on
by the defendant; and
(B) Engaged the defendant accountant to examine,
compile, review, certify, audit or otherwise report or render an
opinion on such financial statements or to provide other public
accountancy services; or
(ii) The defendant accountant or firm:
(A) Was aware at the time the engagement was
undertaken with the accountant's client that the financial
statements or other information were to be made available for
use in connection with a specified transaction by the plaintiff
and the transaction was specifically identified to the
defendant; and
(B) Was aware that the plaintiff intended to
rely upon such financial statements or other information in
connection with the specified transaction.
(d) In order to be entitled to the limitation on liability
contained in this article, an accountant shall:
(i) Identify the purpose of the document and the
persons or entities that are entitled to receive and rely upon
the financial statement or other information examined, compiled,
reviewed, certified, audited or otherwise reported or opined on
by the accountant in the document prepared by the accountant;
and
(ii) Include thereon a statement in a prominent place
that advises users of the document that the liability of the
accountant to third parties who use the document may be limited
pursuant to this article.