Louisiana Revised Statutes 37:112 – Qualifications of certified public accountant members of the review panel; selection
Terms Used In Louisiana Revised Statutes 37:112
- Claim: means any cause of action against a certified public accountant or firm, regardless of the legal basis of the claim, including but not limited to tort, fraud, breach of contract, or any other legal basis, arising out of any engagement to provide professional services, including but not limited to the following:
(a) The providing of attest services as defined in Louisiana Revised Statutes 37:101
- Claimant: means any person having an interest or right to assert a claim, whether for himself or on behalf of another. See Louisiana Revised Statutes 37:101
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Society: means the Society of Louisiana Certified Public Accountants. See Louisiana Revised Statutes 37:101
A. Except as hereinafter disqualified, all certified public accountants, who hold and have held for ten consecutive years a license to practice public accounting in the state of Louisiana, shall be available for selection. Any certified public accountant who is a partner of, employee of, affiliated with, or has a financial relationship with either a claimant, a defendant, a person contemplated to be called as an expert witness for a claimant or defendant, or an attorney representing a claimant or defendant is disqualified from service as a member of the certified public accountant review panel. Any person having a pecuniary interest in the outcome of the panel’s review of the claim is also disqualified.
B. Each party to the action shall have the right to select one certified public accountant.
C. When there are multiple claimants or defendants, there shall be only one certified public accountant selected per side. The claimant, whether single or multiple, shall have the right to select one certified public accountant, and the defendant, whether single or multiple, shall have the right to select one certified public accountant.
D. Service on a public accountant review panel shall not be mandatory. The society shall maintain a list of certified public accountants having the required qualifications who are willing to serve on public accountant review panels. The parties, however, are free to select any certified public accountant having the required qualifications who is willing to serve, whether or not he is on the list maintained by the society.
Acts 1997, No. 747, §1; Acts 2006, No. 214, §1.