The bill proposes significant amendments to the Code of West Virginia regarding the certification and regulation of certified public accountants (CPAs). It aims to modernize the definitions and requirements for CPA certification, including the education, examination, and experience criteria. Key changes include the removal of the "good moral character" requirement for applicants, the introduction of new definitions related to substantial equivalency practice privileges, and the establishment of clearer conditions for the issuance and renewal of certificates. The bill also outlines the Board of Accountancy's authority to propose rules for legislative approval to implement these provisions, including the necessity for criminal history checks for applicants.

Additionally, the bill clarifies the pathways for meeting educational requirements, allowing for various degrees and credit hour combinations. It also addresses the certification process for out-of-state applicants, ensuring they meet similar standards as in-state candidates. The legislation includes provisions to prevent misleading practices in the accounting profession and allows firms without specific permits to provide services, provided they comply with certain regulations. Overall, the bill seeks to enhance the regulatory framework for CPAs in West Virginia, aligning it with contemporary standards and practices in the accounting field.

Statutes affected:
Introduced Version: 30-9-2, 30-9-5, 30-9-7, 30-9-8, 30-9-9, 30-9-10, 30-9-11, 30-9-16, 30-9-26