HB 4088
Relating to certified public accountants
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill makes revisions to the West Virginia Code concerning certified public accountants (CPAs). It clarifies and updates definitions related to accounting terms and practices, modifies the rule-making authority of the Board of Accountancy, and updates requirements for certification, including education, examination, and experience. The bill also addresses substantial equivalency practice privileges and updates provisions related to unlawful acts and disciplinary measures for licensees, firms, and substantial equivalency practitioners.
Key provisions
- Clarifies and updates definitions of key accounting terms such as ‘affiliated entity,’ ‘assurance,’ ‘attest services,’ ‘audit,’ ‘authorization,’ and ‘firm.’
- Modifies the Board of Accountancy’s rule-making authority to cover areas like education requirements, examination procedures, and continuing professional education.
- Updates the education, examination, and experience requirements for obtaining a CPA certificate.
- Revises provisions regarding ‘substantial equivalency’ practice privileges for out-of-state CPAs.
- Updates unlawful acts and disciplinary provisions applicable to licensees, firms, and substantial equivalency practitioners.
- Addresses the use of titles and designations to prevent misleading claims about licensure.
- Specifies requirements for firms regarding ownership and the use of professional names.
- Clarifies the responsibilities of firms and individual practitioners regarding attest and compilation services.
Who is affected
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