The bill amends the Code of West Virginia concerning certified public accountants (CPAs) by clarifying definitions, updating education and experience requirements, and modifying the rule-making authority of the Board of Accountancy. Key changes include the introduction of new definitions such as "substantial equivalency practitioner," as well as updates to terms like "affiliated entity" and "audit." The Board's rule-making authority is revised to encompass provisions for substantial equivalency practice privileges and the requirement for a criminal history record check for issuing certificates. Additionally, the bill removes the previous requirement for applicants to demonstrate "good moral character" for certification.

The legislation also streamlines the certification process by allowing the acceptance of out-of-state certificates and foreign designations that meet specific criteria. It specifies that the education requirement can be fulfilled through various pathways, including a post-baccalaureate degree or a baccalaureate degree with additional accounting credit hours. Applicants must pass the Uniform Certified Public Accountant Examination and meet experience requirements verified by a licensee, which can be obtained in diverse employment settings. Furthermore, the bill clarifies practice privileges for individuals with valid out-of-state certificates, ensuring they have the same rights as local certificate holders without needing a state certificate. Overall, the bill aims to modernize the regulatory framework for CPAs in West Virginia while upholding professional standards.

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
Committee Substitute: 30-9-2, 30-9-5, 30-9-7, 30-9-8, 30-9-10, 30-9-11, 30-9-16, 30-9-26