Within the context of the general trend toward expanding legal liability, the accounting profession is no exception. Accountants were formerly a largely autonomous, self-regulating profession, largely immune from outside regulatory and legal pressures. While accountants have strengthened their standards and educational requirements, the specter of liability and the development of increased disciplinary activity have worked to create an environment which necessitates an assessment of the law's treatment of accountants. The author examines the civil and criminal liability statutes covering accountants, SEC Rules, as well as the Foreign Corrupt Practices Act. The author concludes that due to this uncertainty, the American Institute of Certified Public Accountants and state Certified Public Accountant societies must provide guidance for their members, as well as provide much-needed legislative oversight and government regulation initiatives and proposals.