The Board requires a simple majority of the financial interests and voting rights of all partners, officers, shareholders, or managers to belong to licensed certified public accountants or registered public accountants.
All non-CPA owners must be active participants in the firm or in affiliated entities. Non-licensee owners are considered active participants if they are employed in the firm for at least 20 hours per week and are otherwise legally authorized to provide compatible professional services. Non-licensee owners must have no direct control or personal supervision of the practice or personnel who act on behalf of the firm in giving assurance in a report or otherwise.
Professional limited liability companies must defer to the membership requirements cited in Chapter 31B. Uniform Limited Liability Act. Article 13. Professional Limited Liability Companies,
With the passage of HB 118 on June 17, 2019, the Board promulgated Rules to regulate consideration of prior criminal convictions in initial licensure determinations.
On Tuesday, September 4, 2018, Governor Jim Justice appointed two new members to the West Virginia Board of Accountancy.
The West Virginia Board of Accountancy has acquired a video to address the consequences for a firm or individual practitioner when they perform attest services if they do not meet regulatory requirements.