Application for Firm Permit
All accounting firms located in West Virginia must first make application for a firm permit.
The Accountancy Law defines a firm as:
- any business entity, including, but not limited to, accounting corporations and professional limited liability companies,
- in which two or more certified public accountants or public accountants hold an ownership or membership interest, in terms of the financial interests and voting rights of all partners, officers, shareholders, members or managers,
- and the primary business activity of which is the provision of professional services to the public by certified public accountants or public accountants.
Types of Firm Organizations
Certified Public Accountant licensees may practice public accounting only in the form of a:
- sole-proprietorship,
- a partnership,
- an accounting corporation,
- a professional limited liability company,
- or a limited liability partnership.
Firm Naming Practices
A licensee cannot practice public accounting under a firm name that is misleading.
Names of one or more past partners, members or shareholders may be included in the firm name of a successor partnership, limited liability company, or corporation. A partner, member or shareholder surviving the death or withdrawal of all other partners, members or shareholders may continue to practice under a name which includes the name of past partners, members or shareholders for up to two years after becoming a sole practitioner.
W.Va. Code § 30-9-26. Unlawful Acts states:
(d) No licensee may use a professional or firm name or designation that: (1) Is deceptive or misleading about the legal form of the firm, or about the persons who are partners, officers, members, managers or shareholders of the firm, or about any other matter; or (2) contains a name or term other than past or present partners, officers, members, managers or shareholders of the firm or of a predecessor firm engaged in the practice of accounting.
