AB345-ASA1,23,18
11(3) Rules. The examining board shall promulgate rules that describe the peer
12review required to renew a firm's license under sub. (2). The rules shall include
13requirements for the examining board to approve one or more persons to conduct the
14peer reviews. The rules shall also require each person approved by the examining
15board to conduct peer reviews to periodically report to the examining board on the
16effectiveness of the peer reviews conducted by the person and to provide the
17examining board with a listing of all firms that have undergone peer review
18conducted by the person.
AB345-ASA1,23,23
19(4) Confidentiality. A person approved by the examining board to conduct
20peer reviews may not disclose to any person, including the examining board or the
21department, any information obtained or document produced during the course of or
22as a result of a review unless the firm undergoing the review consents to the
23disclosure.
AB345-ASA1,24,11
1442.10
(1) Whenever any person, as a certified public accountant
or public
2accountant, signs or certifies any report, schedule
, or statement relative to the affairs
3of any corporation, association
, or partnership in which the person is financially
4interested or by which the person is regularly engaged as an officer or employee, the
5signature or certification shall be accompanied by a specific statement setting forth
6the fact that the person is financially interested in or is an officer or regular employee
7of the corporation, association
, or partnership. If the person is both financially
8interested and an officer or regular employee, the statement shall cover both
9financial interest and employment. In the case of a
corporation holding a certificate
10of authority firm signing or certifying as
above described in this subsection, the
11interest of any of its
stockholders members shall be disclosed.
AB345-ASA1,24,2013
442.10
(2) Notwithstanding sub. (1), no person licensed under this chapter, and
14no firm of which the person is a
partner or shareholder member, may express an
15opinion as an independent certified public accountant on financial statements of any
16enterprise unless the person and the firm are independent of the enterprise. The
17requirement for independence under this subsection also extends to the spouse of
18such a person and to other relatives having a financial or business relationship with
19the enterprise which, in the opinion of the examining board, may impair
20independence.
AB345-ASA1,24,2422
442.11
(1) Uses any term other than certified public accountant or the
23abbreviation C. P. A. to indicate that he or she is a
certified public accountant with
24a specially granted title.
AB345-ASA1,25,5
1442.11
(2) While practicing under an assumed name, or as a member of a
2partnership firm, other than a
partnership firm with a name that is registered under
3s. 442.07
as composed of certified public accountants, or as an officer of a corporation 4(3), announces, either in writing or by printing, that the assumed name
, partnership
5or corporation or firm is practicing as a certified public accountant.
AB345-ASA1,25,1110
442.11
(7) Practices as a certified public accountant
or as a public accountant 11after his or her certificate has been revoked.
AB345-ASA1,25,1613
442.11
(8) As an individual
, member of a partnership or officer or director of
14a corporation or member of a firm, practices or permits the
partnership or
15corporation firm to practice as a certified public accountant
or as a public accountant 16unless a license has been secured for the current licensure period.
AB345-ASA1,25,2018
442.11
(9) Sells, buys, gives
, or obtains an alleged certificate as a certified
19public accountant
, a certificate of authority or a license in any manner other than
20that provided for by this chapter.
AB345-ASA1,25,2422
442.11
(10) Attempts to practice as a certified public accountant
or as a public
23accountant under the guise of a certificate not granted by the examining board or
24under cover of a certificate obtained illegally or fraudulently.
AB345-ASA1,26,2
1442.11
(12) Attempts by any subterfuge to evade the provisions of this chapter
2while practicing as a
certified public accountant.
AB345-ASA1,26,104
442.11
(13) As an individual
, a member of a partnership or an officer of a
5corporation or member of a firm, permits to be announced by printed or written
6statement that any report, certificate, exhibit, schedule
, or statement has been
7prepared by or under supervision of a certified public accountant
or by or under
8supervision of a public accountant when the person who prepared the report,
9certificate, exhibit, schedule
, or statement was not a certified public accountant
or
10public accountant.
AB345-ASA1,26,13
12442.12 Disciplinary action. (intro.) Subject to the rules promulgated under
13s. 440.03 (1), the examining board may
do any of the following:
AB345-ASA1,26,1915
442.12
(3) In the case of a
corporation or a partnership firm, revoke, limit
, or
16suspend the license of the
partnership or corporation
firm, or reprimand it, if it is
17found that any
officer, director or member
of the firm has been guilty of such act or
18omission as would be cause for revoking, limiting
, or suspending a certificate or
19license to the person as an individual or for reprimanding the person.
AB345-ASA1,27,7
21442.13 Ownership of accountant's working papers. All statements,
22records, schedules, working papers
, and memoranda made by a certified public
23accountant
or public accountant incident to or in the course of professional service
24to clients by
such a certified public accountant, except reports submitted by a
25certified public accountant
or public accountant to a client, shall be and remain the
1property of
such the certified public accountant, in the absence of an express
2agreement between
such the certified public accountant and the client to the
3contrary. No such statement, record, schedule, working paper
, or memorandum shall
4be sold, transferred
, or bequeathed, without the consent of the client or the client's
5personal representative or assignee, to anyone other than
one or more surviving
6partners or new or successor partners of such any member of the firm of the certified
7public accountant.
AB345-ASA1,27,1210
447.34
(2) Legal counsel,
certified public accountants
licensed under ch. 442, 11or other persons as to matters the director or officer believes in good faith are within
12the person's professional or expert competence.
AB345-ASA1, s. 91
13Section
91. 560.16 (6) (a) 3. of the statutes is amended to read:
AB345-ASA1,27,1614
560.16
(6) (a) 3. A verified statement of the financial condition and business
15operation of the existing business for the previous 3 years, certified by an
16independent
certified public accountant
licensed or certified under ch. 442.
AB345-ASA1,27,19
18893.66 (title)
Accountants
Certified public accountants; limitations of
19actions.
AB345-ASA1,28,221
893.66
(1) Except as provided in subs. (1m) to (4), an action to recover damages,
22based on tort, contract or other legal theory, against any
certified public accountant
23licensed or certified under ch. 442 for an act or omission in the performance of
1professional accounting services shall be commenced within 6 years from the date
2of the act or omission or be barred.