(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.