SB1395: Public Accountancy; revises and makes several amendments to public accounting statute.

Chief Patron

Sen. Walter Stosch (R-12)

Walter Stosch (R-12)
Suite 110 Glen Allen, VA
Served: 1992–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

03/23/2007: signed by governor

View Entire History

Summary

Public Accountancy.  Revises and makes several amendments to the public accounting statute including: (i) clarification of the CPA title as a practice designation, (ii) setting out requirements and standards for the issuance of an individual and a firm license, for obtaining a license through renewal, reinstatement or the lifting of a suspension, and (iv) detailing standards of conduct and practice for the profession. The bill also authorizes the Board of Accountancy to enter into confidential consent orders.  In addition, the bill provides that all attest or compilation services provided in the state must be under the supervision of a person who holds a Virginia license, or meets the requirements for using the CPA title in Virginia under substantial equivalency, and must be carried out in conformity with standards of conduct and practice.