MI SB0783

Limits certified public accountant liability for professional malpractice to specific situations: negligence toward clients, fraud/intentional misrepresentation, or negligence when client designated the claimant in writing before engagement.

Prohibits nonclient claims based on assignment of claims from the client, except for actions arising from cemetery regulation or prepaid funeral and cemetery sales requirements.

Prohibits nonclient claims based on voluntary asset surrender or foreclosure/security agreement acquisition unless the client properly authorized the third party in writing.

Requires written authorization from the client identifying each person, group, or class intended to rely on accounting services, and the certified public accountant must separately identify these parties before engagement begins.

Effective immediately upon filing with the Secretary of State on July 3, 2012.