                                 CODE OF VIRGINIA

BOARD; MEMBERSHIP; QUALIFICATIONS; POWERS AND DUTIES (§ 54.1-4402)

A. The Board of Accountancy established under the former &#xA7; 54.1-2000 and
previously operating in the Department of Professional and Occupational
Regulation is hereby continued and reestablished as an independent board in the
executive branch of state government.

B. The Board shall consist of seven members appointed by the Governor as
follows: one member shall be a public member who may be an accountant who is not
licensed but otherwise meets the requirements of clauses (i) and (ii) of &#xA7;
54.1-107; one member shall be an educator in the field of accounting who holds a
Virginia license; four members shall be holders of Virginia licenses who have
been actively engaged in providing services to the public for at least three
years prior to appointment to the Board; and one member shall hold a Virginia
license and for at least three years prior to appointment to the Board shall
have been actively engaged in providing services to the public or in providing
services to or on behalf of an employer in government or industry.

C. Members of the Board shall serve for terms of four years. The Governor may
remove any member as provided in subsection A of &#xA7; 2.2-108. Any member of
the Board whose Virginia license is revoked or suspended shall automatically
cease to be a member of the Board.

D. The Board shall restrict the practice of public accounting and the use of the
CPA title in Virginia to licensed persons and firms as specified in &#xA7;&#xA7;
54.1-4409.1 and 54.1-4412.1.

E. The Board shall restrict the provision of attest services, compilation
services, and financial statement preparation services to persons or firms
located in Virginia and as specified in &#xA7; 54.1-4412.1. However, this shall
not affect the privilege of a person who is not licensed to include a statement
on financial statements indicating that no assurance is provided on the
financial statements, to say that financial statements have been compiled, or to
use the compilation language as prescribed by subsections B and C of &#xA7;
54.1-4401.

F. The Board shall take such actions as may be authorized by this chapter to
ensure the continued competence of persons or firms using the CPA title in
Virginia and firms providing attest services, compilation services, or financial
statement preparation services to persons or entities located in Virginia and to
aid the public in determining their qualifications.

G. The Board shall take such actions as may be authorized by this chapter to
ensure that persons or firms holding a Virginia license or using the CPA title
in Virginia and firms providing attest services, compilation services, or
financial statement preparation services to persons or entities located in
Virginia adhere to the standards of conduct and practice in &#xA7; 54.1-4413.3
and regulations promulgated by the Board.

H. The Board shall have the responsibility of enforcing this chapter and may by
regulation establish rules and procedures for the implementation of the
provisions of this chapter.

HISTORY: 2001, c. 832; 2003, c. 291; 2004, c. 602; 2007, c. 804; 2015, c. 287;
2017, c. 403; 2024, cc. 654, 677.