Yes, it is still good in Legal Malpractice, and Yes it is still good in Medical Malpractice, but the Court of Appeals took a big, big step yesterday, and ruled that it was not applicable to accountants filing yearly tax returns, or yearly accountings.  PriceWaterhouse won the case, and  Judge Theodore Jones wrote the decision.Law.Com reports on the decision:

"The doctrine of continuous representation cannot be invoked in situations where accountants are providing "separate and discrete" annual audits to clients and not more extensive accounting services, the State of New York Court of Appeals ruled unanimously Thursday.

The decision in Williamson v. PricewaterhouseCoopers LLP , 64, had been anxiously awaited in the accounting industry since the Appellate Division, 1st Department, ruled last year that PricewaterhouseCoopers had a continuous relationship with two failed hedge funds it audited annually.

This was the first time the court weighed in on the continuous representation doctrine in an accounting context. The opinion was written by Judge Theodore T. Jones. "
In deciding that PricewaterhouseCoopers did not have a continuous representation relationship with the hedge funds, Lipper Convertible and the Lipper Fixed Income Fund, the court relieved PricewaterhouseCoopers of malpractice liability for the five years, from 1995 to 1999, it audited the funds’ year-end financial statements and declared them a reasonable indication of the funds’ financial positions.