{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/54.1-4413.4.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/54.1-4413.4.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/54.1-4413.4.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/54.1-4413.4.html"}],"law_id":57633,"edition_id":1,"section_id":57633,"structure_id":14599,"section_number":"54.1-4413.4","catch_line":"Penalties","history":"2007, c. 804; 2015, c. 287; 2017, c. 403; 2024, cc. 654, 677; 2025, cc. 523, 539.","full_text":"A\n\nPenalties the Board may impose consist of:1\n\nRevoking a Virginia license or the privilege of using the CPA title in Virginia or providing attest services, compilation services, or financial statement preparation services to persons or entities located in Virginia;2\n\nSuspending or refusing to renew or reinstate a Virginia license or the privilege of using the CPA title in Virginia or providing attest services, compilation services, or financial statement preparation services to persons or entities located in Virginia;3\n\nReprimanding, censuring, or limiting the scope of practice of any person, firm, or entity using a Virginia license or the CPA title in Virginia or any firm providing attest services, compilation services, or financial statement preparation services to persons or entities located in Virginia;4\n\nPlacing any person, firm, or entity using a Virginia license or the CPA title in Virginia or any firm providing attest services, compilation services, or financial statement preparation services to persons or entities located in Virginia on probation, with or without terms, conditions, and limitations;5\n\nRequiring a firm holding a Virginia license to have an accelerated peer review conducted as the Board may specify or to take other remedial actions;6\n\nRequiring a person holding a Virginia license to satisfactorily complete additional or specific continuing professional education as the Board may specify;7\n\nImposing a monetary penalty up to $100,000 for each violation of the provisions of this chapter or regulations promulgated by the Board; any monetary penalty may be sued for and recovered in the name of the Commonwealth; and8\n\nRequiring any person, firm, or entity that violates § 54.1-4414 to discontinue any acts in violation of that provision.B\n\nThe Board may impose penalties on persons, firms, or entities using a Virginia license or the CPA title in Virginia or firms or entities providing attest services, compilation services, or financial statement preparation services to persons or entities located in Virginia for:1\n\nViolation of the provisions of this chapter or violation of any regulation, subpoena, or order of the Board;2\n\nFraud or deceit in obtaining, renewing, or applying for reinstatement or lifting the suspension of a Virginia license;3\n\nRevocation, suspension, or refusal to reinstate the license of another state for disciplinary reasons;4\n\nRevocation or suspension of the privilege of practicing before any state or federal agency or federal court of law;5\n\nDishonesty, fraud, or gross negligence in providing services to or on behalf of an employer, in providing services to the public, or in providing attest services, compilation services, or financial statement preparation services;6\n\nDishonesty, fraud, or gross negligence in preparing the person’s or firm’s own state or federal income tax return or financial statement;7\n\nConviction of a felony, or of any crime involving moral turpitude, under the laws of the United States, of Virginia, or of any other state if the acts involved would have constituted a crime under the laws of Virginia; or8\n\nLack of the competence required to provide services to the public for persons and entities located in Virginia or to provide attest services, compilation services, and financial statement preparation services to persons and entities located in Virginia, as determined by the Board.C\n\nThe Board may also impose penalties on:1\n\nA person, firm, or entity that does not hold a Virginia license, or that does not meet the requirements to use the CPA title in Virginia under the practice privilege provisions of § 54.1-4411, and commits any of the acts prohibited by § 54.1-4414; or2\n\nA firm or entity that does not meet the criteria prescribed by subdivision D 1 of § 54.1-4412.1 and commits any of the acts prohibited by § 54.1-4414.","order_by":null,"text":{"0":{"id":211156,"text":"Penalties the Board may impose consist of:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":211157,"text":"Revoking a Virginia license or the privilege of using the CPA title in Virginia or providing attest services, compilation services, or financial statement preparation services to persons or entities located in Virginia;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":211158,"text":"Suspending or refusing to renew or reinstate a Virginia license or the privilege of using the CPA title in Virginia or providing attest services, compilation services, or financial statement preparation services to persons or entities located in Virginia;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":211159,"text":"Reprimanding, censuring, or limiting the scope of practice of any person, firm, or entity using a Virginia license or the CPA title in Virginia or any firm providing attest services, compilation services, or financial statement preparation services to persons or entities located in Virginia;","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":211160,"text":"Placing any person, firm, or entity using a Virginia license or the CPA title in Virginia or any firm providing attest services, compilation services, or financial statement preparation services to persons or entities located in Virginia on probation, with or without terms, conditions, and limitations;","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":211161,"text":"Requiring a firm holding a Virginia license to have an accelerated peer review conducted as the Board may specify or to take other remedial actions;","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":211162,"text":"Requiring a person holding a Virginia license to satisfactorily complete additional or specific continuing professional education as the Board may specify;","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":211163,"text":"Imposing a monetary penalty up to $100,000 for each violation of the provisions of this chapter or regulations promulgated by the Board; any monetary penalty may be sued for and recovered in the name of the Commonwealth; and","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"A8"},"8":{"id":211164,"text":"Requiring any person, firm, or entity that violates § 54.1-4414 to discontinue any acts in violation of that provision.","type":"section","prefixes":["A","8"],"prefix":"8","entire_prefix":"A8","prefix_anchor":"A8","level":2,"prior_prefix":"A7","next_prefix":"B"},"9":{"id":211165,"text":"The Board may impose penalties on persons, firms, or entities using a Virginia license or the CPA title in Virginia or firms or entities providing attest services, compilation services, or financial statement preparation services to persons or entities located in Virginia for:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A8","next_prefix":"B1"},"10":{"id":211166,"text":"Violation of the provisions of this chapter or violation of any regulation, subpoena, or order of the Board;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"11":{"id":211167,"text":"Fraud or deceit in obtaining, renewing, or applying for reinstatement or lifting the suspension of a Virginia license;","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"12":{"id":211168,"text":"Revocation, suspension, or refusal to reinstate the license of another state for disciplinary reasons;","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"13":{"id":211169,"text":"Revocation or suspension of the privilege of practicing before any state or federal agency or federal court of law;","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"B5"},"14":{"id":211170,"text":"Dishonesty, fraud, or gross negligence in providing services to or on behalf of an employer, in providing services to the public, or in providing attest services, compilation services, or financial statement preparation services;","type":"section","prefixes":["B","5"],"prefix":"5","entire_prefix":"B5","prefix_anchor":"B5","level":2,"prior_prefix":"B4","next_prefix":"B6"},"15":{"id":211171,"text":"Dishonesty, fraud, or gross negligence in preparing the person’s or firm’s own state or federal income tax return or financial statement;","type":"section","prefixes":["B","6"],"prefix":"6","entire_prefix":"B6","prefix_anchor":"B6","level":2,"prior_prefix":"B5","next_prefix":"B7"},"16":{"id":211172,"text":"Conviction of a felony, or of any crime involving moral turpitude, under the laws of the United States, of Virginia, or of any other state if the acts involved would have constituted a crime under the laws of Virginia; or","type":"section","prefixes":["B","7"],"prefix":"7","entire_prefix":"B7","prefix_anchor":"B7","level":2,"prior_prefix":"B6","next_prefix":"B8"},"17":{"id":211173,"text":"Lack of the competence required to provide services to the public for persons and entities located in Virginia or to provide attest services, compilation services, and financial statement preparation services to persons and entities located in Virginia, as determined by the Board.","type":"section","prefixes":["B","8"],"prefix":"8","entire_prefix":"B8","prefix_anchor":"B8","level":2,"prior_prefix":"B7","next_prefix":"C"},"18":{"id":211174,"text":"The Board may also impose penalties on:","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B8","next_prefix":"C1"},"19":{"id":211175,"text":"A person, firm, or entity that does not hold a Virginia license, or that does not meet the requirements to use the CPA title in Virginia under the practice privilege provisions of § 54.1-4411, and commits any of the acts prohibited by § 54.1-4414; or","type":"section","prefixes":["C","1"],"prefix":"1","entire_prefix":"C1","prefix_anchor":"C1","level":2,"prior_prefix":"C","next_prefix":"C2"},"20":{"id":211176,"text":"A firm or entity that does not meet the criteria prescribed by subdivision D 1 of § 54.1-4412.1 and commits any of the acts prohibited by § 54.1-4414.","type":"section","prefixes":["C","2"],"prefix":"2","entire_prefix":"C2","prefix_anchor":"C2","level":2,"prior_prefix":"C1"}},"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 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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 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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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/54.1-4413.4\/","history_text":"

This law was first created in 2007. The record of its establishment is cataloged in chapter 804<\/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 4 times. 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. Those modifications are as follows: in 2015, chapter 287<\/a>; in 2017, chapter 403<\/a>; in 2024, chapters 654<\/a> and 677<\/a>; in 2025, chapters 523<\/a> and 539<\/a>.<\/p>","references":false,"refers_to":[{"id":84949,"section_number":"54.1-4411","catch_line":"Practice privilege provisions for persons who hold the license of another state","order_by":null,"url":"\/54.1-4411\/"},{"id":80082,"section_number":"54.1-4412.1","catch_line":"Licensing requirements for firms","order_by":null,"url":"\/54.1-4412.1\/"},{"id":63959,"section_number":"54.1-4414","catch_line":"Prohibited acts","order_by":null,"url":"\/54.1-4414\/"}],"permalink":{"id":244713,"object_type":"law","relational_id":57633,"identifier":"54.1-4413.4","token":"54.1\/VI\/44\/54.1-4413.4","url":"\/54.1-4413.4\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/54.1-4413.4\/","token":"54.1\/VI\/44\/54.1-4413.4","dublin_core":{"Title":"Penalties","Type":"Text","Format":"text\/html","Identifier":"\u00a7 54.1-4413.4","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Penalties the Board<\/span> may impose consist of: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Revoking a Virginia license<\/span> or the privilege<\/span> of using the CPA title in Virginia<\/span> or providing attest services<\/span>, compilation services<\/span>, or financial statement preparation services<\/span> to persons or entities located in Virginia; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Suspending or refusing to renew or reinstate a Virginia license<\/span> or the privilege<\/span> of using the CPA title in Virginia<\/span> or providing attest services<\/span>, compilation services<\/span>, or financial statement preparation services<\/span> to persons or entities located in Virginia; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Reprimanding, censuring, or limiting the scope of practice of any person, firm<\/span>, or entity using a Virginia license<\/span> or the CPA title in Virginia or any firm<\/span> providing attest services<\/span>, compilation services<\/span>, or financial statement preparation services<\/span> to persons or entities located in Virginia; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Placing any person, firm<\/span>, or entity using a Virginia license<\/span> or the CPA title in Virginia or any firm<\/span> providing attest services<\/span>, compilation services<\/span>, or financial statement preparation services<\/span> to persons or entities located in Virginia on probation<\/span>, with or without terms, conditions, and limitations; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Requiring a firm<\/span> holding a Virginia license<\/span> to have an accelerated peer review<\/span> conducted as the Board<\/span> may specify or to take other remedial actions; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Requiring a person holding a Virginia license<\/span> to satisfactorily complete additional or specific continuing professional education<\/span> as the Board<\/span> may specify; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Imposing a monetary penalty<\/span> up to $100,000 for each violation of the provisions of this chapter or regulations promulgated by the Board<\/span>; any monetary penalty<\/span> may be sued for and recovered in the name of the Commonwealth; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Requiring any person, firm<\/span>, or entity that violates § 54.1-4414<\/a> to discontinue any acts in violation of that provision. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Board<\/span> may impose penalties on persons, firms<\/span>, or entities using a Virginia license<\/span> or the CPA title in Virginia or firms<\/span> or entities providing attest services<\/span>, compilation services<\/span>, or financial statement preparation services<\/span> to persons or entities located in Virginia for: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Violation of the provisions of this chapter or violation of any regulation, subpoena<\/span>, or order<\/span> of the Board<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Fraud<\/span> or deceit in obtaining, renewing, or applying for reinstatement or lifting the suspension of a Virginia license<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Revocation<\/span>, suspension, or refusal to reinstate the license of another state<\/span> for disciplinary reasons; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Revocation<\/span> or suspension of the privilege<\/span> of practicing before any state or federal agency or federal court<\/span> of law<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Dishonesty, fraud<\/span>, or gross negligence<\/span> in providing services to or on behalf of an employer<\/span>, in providing services to the public<\/span>, or in providing attest services<\/span>, compilation services<\/span>, or financial statement preparation services<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Dishonesty, fraud<\/span>, or gross negligence<\/span> in preparing the person’s or firm<\/span>’s own state or federal income tax return or financial statement; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Conviction<\/span> of a felony<\/span>, or of any crime<\/span> involving moral turpitude<\/span>, under the laws<\/span> of the United States<\/span>, of Virginia, or of any other state if the acts involved would have constituted a crime<\/span> under the laws<\/span> of Virginia; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Lack of the competence required to provide services to the public for persons and entities located in Virginia or to provide attest services<\/span>, compilation services<\/span>, and financial statement preparation services<\/span> to persons and entities located in Virginia, as determined by the Board<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The Board<\/span> may also impose penalties on: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A person, firm<\/span>, or entity that does not hold a Virginia license<\/span>, or that does not meet the requirements to use the CPA title in Virginia under the practice privilege<\/span> provisions of § 54.1-4411<\/a>, and commits any of the acts prohibited by § 54.1-4414<\/a>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A firm<\/span> or entity that does not meet the criteria prescribed by subdivision D 1 of § 54.1-4412.1<\/a> and commits any of the acts prohibited by § 54.1-4414<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPENALTIES (\u00a7 54.1-4413.4)\n\nA. Penalties the Board may impose consist of:\n\n 1. Revoking a Virginia license or the privilege of using the CPA title in\n Virginia or providing attest services, compilation services, or financial\n statement preparation services to persons or entities located in Virginia;\n\n 2. Suspending or refusing to renew or reinstate a Virginia license or the\n privilege of using the CPA title in Virginia or providing attest services,\n compilation services, or financial statement preparation services to persons\n or entities located in Virginia;\n\n 3. Reprimanding, censuring, or limiting the scope of practice of any person,\n firm, or entity using a Virginia license or the CPA title in Virginia or any\n firm providing attest services, compilation services, or financial statement\n preparation services to persons or entities located in Virginia;\n\n 4. Placing any person, firm, or entity using a Virginia license or the CPA\n title in Virginia or any firm providing attest services, compilation services,\n or financial statement preparation services to persons or entities located in\n Virginia on probation, with or without terms, conditions, and limitations;\n\n 5. Requiring a firm holding a Virginia license to have an accelerated peer\n review conducted as the Board may specify or to take other remedial actions;\n\n 6. Requiring a person holding a Virginia license to satisfactorily complete\n additional or specific continuing professional education as the Board may\n specify;\n\n 7. Imposing a monetary penalty up to $100,000 for each violation of the\n provisions of this chapter or regulations promulgated by the Board; any\n monetary penalty may be sued for and recovered in the name of the\n Commonwealth; and\n\n 8. Requiring any person, firm, or entity that violates § 54.1-4414 to\n discontinue any acts in violation of that provision.\n\nB. The Board may impose penalties on persons, firms, or entities using a\nVirginia license or the CPA title in Virginia or firms or entities providing\nattest services, compilation services, or financial statement preparation\nservices to persons or entities located in Virginia for:\n\n 1. Violation of the provisions of this chapter or violation of any regulation,\n subpoena, or order of the Board;\n\n 2. Fraud or deceit in obtaining, renewing, or applying for reinstatement or\n lifting the suspension of a Virginia license;\n\n 3. Revocation, suspension, or refusal to reinstate the license of another\n state for disciplinary reasons;\n\n 4. Revocation or suspension of the privilege of practicing before any state or\n federal agency or federal court of law;\n\n 5. Dishonesty, fraud, or gross negligence in providing services to or on\n behalf of an employer, in providing services to the public, or in providing\n attest services, compilation services, or financial statement preparation\n services;\n\n 6. Dishonesty, fraud, or gross negligence in preparing the person’s or\n firm’s own state or federal income tax return or financial statement;\n\n 7. Conviction of a felony, or of any crime involving moral turpitude, under\n the laws of the United States, of Virginia, or of any other state if the acts\n involved would have constituted a crime under the laws of Virginia; or\n\n 8. Lack of the competence required to provide services to the public for\n persons and entities located in Virginia or to provide attest services,\n compilation services, and financial statement preparation services to persons\n and entities located in Virginia, as determined by the Board.\n\nC. The Board may also impose penalties on:\n\n 1. A person, firm, or entity that does not hold a Virginia license, or that\n does not meet the requirements to use the CPA title in Virginia under the\n practice privilege provisions of § 54.1-4411, and commits any of the acts\n prohibited by § 54.1-4414; or\n\n 2. A firm or entity that does not meet the criteria prescribed by subdivision\n D 1 of § 54.1-4412.1 and commits any of the acts prohibited by §\n 54.1-4414.\n\nHISTORY: 2007, c. 804; 2015, c. 287; 2017, c. 403; 2024, cc. 654, 677; 2025, cc.\n523, 539.","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}}