SB 532
Relating to certified public accountants
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill updates West Virginia’s laws regarding certified public accountants (CPAs). It clarifies definitions related to accounting terms and services, modifies the rule-making authority of the Board of Accountancy, and adjusts education, examination, and experience requirements for certification. The bill also addresses the issuance of certificates to out-of-state applicants and revises provisions concerning substantial equivalency practice privileges, establishing conditions for authorization and updating unlawful acts and disciplinary provisions for licensees, firms, and substantial equivalency practitioners.
Key provisions
- Clarifies and updates definitions of key accounting terms, including ‘Affiliated entity,’ ‘Assurance,’ ‘Audit,’ ‘Authorization,’ and ‘Firm.’
- Modifies the Board of Accountancy’s rule-making authority to cover areas such as education, experience, examinations, and disciplinary actions.
- Updates education, examination, and experience requirements for obtaining a CPA certificate.
- Provides a process for issuing certificates to out-of-state applicants who meet certain qualifications.
- Revises provisions on substantial equivalency practice privileges, including conditions for issuance and renewal of authorizations.
- Updates unlawful acts and disciplinary provisions applicable to licensees, firms, and substantial equivalency practitioners.
- Establishes requirements for firm ownership, particularly for limited liability companies.
- Addresses peer review requirements and the use of professional titles.
Who is affected
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