{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/54.1-4405.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/54.1-4405.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/54.1-4405.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/54.1-4405.1.html"}],"law_id":76188,"edition_id":1,"section_id":76188,"structure_id":14599,"section_number":"54.1-4405.1","catch_line":"Board of Accountancy Trust Account; creation; expenditures; excess moneys","history":"2004, c. 602; 2007, c. 804.","full_text":"A\n\nThere is hereby created in the state treasury a special nonreverting fund (except as set forth in subsection B), to be known as the Board of Accountancy Trust Account (the Trust Account). The purpose of the Trust Account is to provide a supplemental source of funds to the Board on a timely basis for (i) its use in the study, research, investigation, or adjudication of matters involving possible violations of the provisions of this chapter or regulations promulgated by the Board or (ii) any other purpose that the Board determines is germane to its statutory purposes and cannot otherwise be funded through the Fund. The Trust Account shall consist of transfers from time to time by the Board from the Fund and earnings on the Trust Account.B\n\nAll disbursements from the Trust Account shall be made by the State Treasurer upon warrants of the Comptroller issued upon vouchers signed by an authorized officer of the Board or the Executive Director as authorized by the Board. Funds remaining in the Trust Account at the end of a biennium shall continue to remain in the Trust Account and accrue earnings. Upon a determination by the Board that the Trust Account balance exceeds the amount needed for the purposes set forth in subsection A, the Board may transfer the excess to the Fund.","order_by":null,"text":{"0":{"id":273608,"text":"There is hereby created in the state treasury a special nonreverting fund (except as set forth in subsection B), to be known as the Board of Accountancy Trust Account (the Trust Account). The purpose of the Trust Account is to provide a supplemental source of funds to the Board on a timely basis for (i) its use in the study, research, investigation, or adjudication of matters involving possible violations of the provisions of this chapter or regulations promulgated by the Board or (ii) any other purpose that the Board determines is germane to its statutory purposes and cannot otherwise be funded through the Fund. The Trust Account shall consist of transfers from time to time by the Board from the Fund and earnings on the Trust Account.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":273609,"text":"All disbursements from the Trust Account shall be made by the State Treasurer upon warrants of the Comptroller issued upon vouchers signed by an authorized officer of the Board or the Executive Director as authorized by the Board. Funds remaining in the Trust Account at the end of a biennium shall continue to remain in the Trust Account and accrue earnings. Upon a determination by the Board that the Trust Account balance exceeds the amount needed for the purposes set forth in subsection A, the Board may transfer the excess to the Fund.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":14599,"edition_id":1,"name":"Public Accountants","identifier":"44","label":"chapter","depth":3,"order_by":1,"parent_id":14598,"metadata":{},"date_created":"2026-06-26 03:48:49","date_modified":"2026-06-26 03:48:49","permalink":{"id":244631,"object_type":"structure","relational_id":14599,"identifier":"44","token":"54.1\/VI\/44","url":"\/54.1\/VI\/44\/","edition_id":1,"permalink":0,"preferred":1}},{"id":14598,"edition_id":1,"name":"Professions Regulated by Other Entities","identifier":"VI","label":"subtitle","depth":2,"order_by":1,"parent_id":12754,"metadata":{},"date_created":"2026-06-26 03:48:49","date_modified":"2026-06-26 03:48:49","permalink":{"id":244629,"object_type":"structure","relational_id":14598,"identifier":"VI","token":"54.1\/VI","url":"\/54.1\/VI\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12754,"edition_id":1,"name":"Professions and Occupations","identifier":"54.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":239313,"object_type":"structure","relational_id":12754,"identifier":"54.1","token":"54.1","url":"\/54.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":77707,"structure_id":14599,"section_number":"54.1-4400","catch_line":"Definitions","url":"\/54.1-4400\/","token":"54.1\/VI\/44\/54.1-4400","metadata":false},{"id":65495,"structure_id":14599,"section_number":"54.1-4401","catch_line":"Applicability of chapter","url":"\/54.1-4401\/","token":"54.1\/VI\/44\/54.1-4401","metadata":false},{"id":76023,"structure_id":14599,"section_number":"54.1-4402","catch_line":"Board; membership; qualifications; powers and duties","url":"\/54.1-4402\/","token":"54.1\/VI\/44\/54.1-4402","metadata":false},{"id":81120,"structure_id":14599,"section_number":"54.1-4403","catch_line":"General powers and duties of the Board","url":"\/54.1-4403\/","token":"54.1\/VI\/44\/54.1-4403","metadata":false},{"id":63559,"structure_id":14599,"section_number":"54.1-4404","catch_line":"Board to employ Executive Director; legal counsel","url":"\/54.1-4404\/","token":"54.1\/VI\/44\/54.1-4404","metadata":false},{"id":73724,"structure_id":14599,"section_number":"54.1-4405","catch_line":"Board of Accountancy Fund; receipts; disbursements","url":"\/54.1-4405\/","token":"54.1\/VI\/44\/54.1-4405","metadata":false},{"id":76188,"structure_id":14599,"section_number":"54.1-4405.1","catch_line":"Board of Accountancy Trust Account; creation; expenditures; excess moneys","url":"\/54.1-4405.1\/","token":"54.1\/VI\/44\/54.1-4405.1","metadata":false},{"id":62977,"structure_id":14599,"section_number":"54.1-4406","catch_line":"Powers and duties of the Executive Director","url":"\/54.1-4406\/","token":"54.1\/VI\/44\/54.1-4406","metadata":false},{"id":62850,"structure_id":14599,"section_number":"54.1-4407","catch_line":"Enforcement of laws by the Executive Director or investigators; authority of investigators appointed by the Executive Director","url":"\/54.1-4407\/","token":"54.1\/VI\/44\/54.1-4407","metadata":false},{"id":70412,"structure_id":14599,"section_number":"54.1-4408","catch_line":"Subpoenas","url":"\/54.1-4408\/","token":"54.1\/VI\/44\/54.1-4408","metadata":false},{"id":73633,"structure_id":14599,"section_number":"54.1-4409","catch_line":"Repealed","url":"\/54.1-4409\/","token":"54.1\/VI\/44\/54.1-4409","metadata":false},{"id":71993,"structure_id":14599,"section_number":"54.1-4409.1","catch_line":"Licensing requirements for persons","url":"\/54.1-4409.1\/","token":"54.1\/VI\/44\/54.1-4409.1","metadata":false},{"id":76842,"structure_id":14599,"section_number":"54.1-4409.2","catch_line":"How a person may obtain a Virginia license","url":"\/54.1-4409.2\/","token":"54.1\/VI\/44\/54.1-4409.2","metadata":false},{"id":76079,"structure_id":14599,"section_number":"54.1-4410","catch_line":"Repealed","url":"\/54.1-4410\/","token":"54.1\/VI\/44\/54.1-4410","metadata":false},{"id":84949,"structure_id":14599,"section_number":"54.1-4411","catch_line":"Practice privilege provisions for persons who hold the license of another state","url":"\/54.1-4411\/","token":"54.1\/VI\/44\/54.1-4411","metadata":false},{"id":73017,"structure_id":14599,"section_number":"54.1-4412","catch_line":"Repealed","url":"\/54.1-4412\/","token":"54.1\/VI\/44\/54.1-4412","metadata":false},{"id":80082,"structure_id":14599,"section_number":"54.1-4412.1","catch_line":"Licensing requirements for firms","url":"\/54.1-4412.1\/","token":"54.1\/VI\/44\/54.1-4412.1","metadata":false},{"id":81954,"structure_id":14599,"section_number":"54.1-4413","catch_line":"Repealed","url":"\/54.1-4413\/","token":"54.1\/VI\/44\/54.1-4413","metadata":false},{"id":72351,"structure_id":14599,"section_number":"54.1-4413.2","catch_line":"Issuance, renewal, and reinstatement of licenses and lifting the suspension of privileges","url":"\/54.1-4413.2\/","token":"54.1\/VI\/44\/54.1-4413.2","metadata":false},{"id":81324,"structure_id":14599,"section_number":"54.1-4413.3","catch_line":"Standards of conduct and practice","url":"\/54.1-4413.3\/","token":"54.1\/VI\/44\/54.1-4413.3","metadata":false},{"id":57633,"structure_id":14599,"section_number":"54.1-4413.4","catch_line":"Penalties","url":"\/54.1-4413.4\/","token":"54.1\/VI\/44\/54.1-4413.4","metadata":false},{"id":86268,"structure_id":14599,"section_number":"54.1-4413.5","catch_line":"Confidential consent agreements","url":"\/54.1-4413.5\/","token":"54.1\/VI\/44\/54.1-4413.5","metadata":false},{"id":63959,"structure_id":14599,"section_number":"54.1-4414","catch_line":"Prohibited acts","url":"\/54.1-4414\/","token":"54.1\/VI\/44\/54.1-4414","metadata":false},{"id":56105,"structure_id":14599,"section_number":"54.1-4415","catch_line":"Exemptions from unlawful acts","url":"\/54.1-4415\/","token":"54.1\/VI\/44\/54.1-4415","metadata":false},{"id":65607,"structure_id":14599,"section_number":"54.1-4416","catch_line":"Board's powers with respect to hearings under this chapter","url":"\/54.1-4416\/","token":"54.1\/VI\/44\/54.1-4416","metadata":false},{"id":63703,"structure_id":14599,"section_number":"54.1-4417","catch_line":"Repealed","url":"\/54.1-4417\/","token":"54.1\/VI\/44\/54.1-4417","metadata":false},{"id":64058,"structure_id":14599,"section_number":"54.1-4418","catch_line":"Recovery of cost after grant of formal fact-finding","url":"\/54.1-4418\/","token":"54.1\/VI\/44\/54.1-4418","metadata":false},{"id":66516,"structure_id":14599,"section_number":"54.1-4419","catch_line":"Repealed","url":"\/54.1-4419\/","token":"54.1\/VI\/44\/54.1-4419","metadata":false},{"id":69333,"structure_id":14599,"section_number":"54.1-4420","catch_line":"Repealed","url":"\/54.1-4420\/","token":"54.1\/VI\/44\/54.1-4420","metadata":false},{"id":57198,"structure_id":14599,"section_number":"54.1-4421","catch_line":"Biennial report","url":"\/54.1-4421\/","token":"54.1\/VI\/44\/54.1-4421","metadata":false},{"id":62207,"structure_id":14599,"section_number":"54.1-4422","catch_line":"Expired","url":"\/54.1-4422\/","token":"54.1\/VI\/44\/54.1-4422","metadata":false},{"id":77879,"structure_id":14599,"section_number":"54.1-4423","catch_line":"Use of consultants in investigations","url":"\/54.1-4423\/","token":"54.1\/VI\/44\/54.1-4423","metadata":false},{"id":72620,"structure_id":14599,"section_number":"54.1-4424","catch_line":"Certain information not to be made public","url":"\/54.1-4424\/","token":"54.1\/VI\/44\/54.1-4424","metadata":false},{"id":65630,"structure_id":14599,"section_number":"54.1-4425","catch_line":"Time for filing complaints against CPAs or CPA firms","url":"\/54.1-4425\/","token":"54.1\/VI\/44\/54.1-4425","metadata":false}],"previous_section":{"id":73724,"structure_id":14599,"section_number":"54.1-4405","catch_line":"Board of Accountancy Fund; receipts; disbursements","url":"\/54.1-4405\/","token":"54.1\/VI\/44\/54.1-4405","metadata":false},"next_section":{"id":62977,"structure_id":14599,"section_number":"54.1-4406","catch_line":"Powers and duties of the Executive Director","url":"\/54.1-4406\/","token":"54.1\/VI\/44\/54.1-4406","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/54.1-4405.1\/","history_text":"<p>This law was first created in 2004. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?041+ful+CHAP0602\">602<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2007, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?071+ful+CHAP0804\">804<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":244657,"object_type":"law","relational_id":76188,"identifier":"54.1-4405.1","token":"54.1\/VI\/44\/54.1-4405.1","url":"\/54.1-4405.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/54.1-4405.1\/","token":"54.1\/VI\/44\/54.1-4405.1","dublin_core":{"Title":"Board of Accountancy Trust Account; creation; expenditures; excess moneys","Type":"Text","Format":"text\/html","Identifier":"\u00a7 54.1-4405.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> There is hereby created in the <span class=\"dictionary\">state<\/span> treasury a special nonreverting fund (except as set forth in subsection B), to be known as the <span class=\"dictionary\">Board<\/span> of Accountancy Trust Account (the Trust Account). The purpose of the Trust Account is to provide a supplemental source of funds to the <span class=\"dictionary\">Board<\/span> on a timely basis for (i) its use in the study, research, investigation, or adjudication of matters involving possible violations of the provisions of this chapter or regulations promulgated by the <span class=\"dictionary\">Board<\/span> or (ii) any other purpose that the <span class=\"dictionary\">Board<\/span> determines is germane to its statutory purposes and cannot otherwise be funded through the Fund. The Trust Account shall consist of transfers from time to time by the <span class=\"dictionary\">Board<\/span> from the Fund and earnings on the Trust Account. <a id=\"paragraph-273608\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/54.1-4405.1\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> All disbursements from the Trust Account shall be made by the <span class=\"dictionary\">State<\/span> Treasurer upon warrants of the Comptroller issued upon vouchers signed by an authorized officer of the <span class=\"dictionary\">Board<\/span> or the <span class=\"dictionary\">Executive Director<\/span> as authorized by the <span class=\"dictionary\">Board<\/span>. Funds remaining in the Trust Account at the end of a biennium shall continue to remain in the Trust Account and accrue earnings. Upon a determination by the <span class=\"dictionary\">Board<\/span> that the Trust Account balance exceeds the amount needed for the purposes set forth in subsection A, the <span class=\"dictionary\">Board<\/span> may transfer the excess to the Fund. <a id=\"paragraph-273609\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/54.1-4405.1\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nBOARD OF ACCOUNTANCY TRUST ACCOUNT; CREATION; EXPENDITURES; EXCESS MONEYS (\u00a7\n54.1-4405.1)\n\nA. There is hereby created in the state treasury a special nonreverting fund\n(except as set forth in subsection B), to be known as the Board of Accountancy\nTrust Account (the Trust Account). The purpose of the Trust Account is to\nprovide a supplemental source of funds to the Board on a timely basis for (i)\nits use in the study, research, investigation, or adjudication of matters\ninvolving possible violations of the provisions of this chapter or regulations\npromulgated by the Board or (ii) any other purpose that the Board determines is\ngermane to its statutory purposes and cannot otherwise be funded through the\nFund. The Trust Account shall consist of transfers from time to time by the\nBoard from the Fund and earnings on the Trust Account.\n\nB. All disbursements from the Trust Account shall be made by the State Treasurer\nupon warrants of the Comptroller issued upon vouchers signed by an authorized\nofficer of the Board or the Executive Director as authorized by the Board. Funds\nremaining in the Trust Account at the end of a biennium shall continue to remain\nin the Trust Account and accrue earnings. Upon a determination by the Board that\nthe Trust Account balance exceeds the amount needed for the purposes set forth\nin subsection A, the Board may transfer the excess to the Fund.\n\nHISTORY: 2004, c. 602; 2007, c. 804.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}