Virginia Code 54.1-4411: Substantial equivalency provisions for persons who hold the license of another state
A. A person who holds the license of another state shall be considered to have met requirements that are substantially equivalent to those prescribed by the Board if:
Terms Used In Virginia Code 54.1-4411
- Board: means the Virginia Board of Accountancy. See Virginia Code 54.1-4400
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- CPA: means certified public accountant. See Virginia Code 54.1-4400
- CPA examination: means the national uniform CPA examination approved and administered by the board of accountancy of a state or by the board's designee. See Virginia Code 54.1-4400
- Executive Director: means the Executive Director of the Board. See Virginia Code 54.1-4400
- Experience: means employment in academia, a firm, government, or industry in any capacity involving the substantial use of accounting, financial, tax, or other skills that are relevant, as determined by the Board, to provide services to or on behalf of an employer or to the public, as verified by an active, licensed CPA. See Virginia Code 54.1-4400
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- License of another state: means the license that is issued by the board of accountancy of a state other than Virginia that gives a person the privilege of using the CPA title in that state or that gives a firm the privilege of providing attest services, compilation services, and financial statement preparation services to persons and entities located in that state. See Virginia Code 54.1-4400
- Licensed: means holding a Virginia license or the license of another state. See Virginia Code 54.1-4400
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
- State: means any state of the United States, the District of Columbia, or any territory of the United States that is a recognized jurisdiction by the National Association of State Boards of Accountancy or its successor. See Virginia Code 54.1-4400
- Venue: The geographical location in which a case is tried.
- Virginia license: means a license that is issued by the Board giving a person the privilege of using the CPA title in Virginia or a firm the privilege of providing attest services, compilation services, and financial statement preparation services to persons and entities located in Virginia. See Virginia Code 54.1-4400
1. The Board has determined that the education, CPA examination, and experience requirements of the state are substantially equivalent to those prescribed by the Board, or
2. The person has demonstrated meeting education, CPA examination, and experience requirements that are substantially equivalent to those prescribed by the Board.
B. A person who holds the license of another state and meets the substantial equivalency provisions of subsection A shall not be required to hold a Virginia license to use the CPA title in Virginia provided that either (i) he provides services to the public and the principal place of business in which he provides those services is in other states or (ii) he does not provide services to the public. However, to use the CPA title in Virginia, the person shall:
1. Consent to be subject to:
a. The provisions of this chapter and regulations promulgated by the Board that apply to the holder of a Virginia license,
b. The jurisdiction of the Board in all disciplinary proceedings arising out of matters related to his use of the CPA title in Virginia, and
c. The Board’s authority to revoke or suspend his privilege to use the CPA title in Virginia and to impose penalties for the person’s violations of the provisions of this chapter and regulations promulgated by the Board.
2. Consent to the appointment of the executive director of the board of accountancy of the state that issued the license as his agent, upon whom process may be served (i) in any action or proceeding by the Board against him, or (ii) in any civil action in Virginia courts arising out of his using the CPA title in Virginia. In the event he holds a license from more than one state, the Board shall establish which executive director shall serve as his agent.
3. Consent to the personal and subject matter jurisdiction of the courts of Virginia in any civil action arising out of his use of the CPA title in Virginia and agree that the proper venue for such actions is in Virginia.
4. Agree to cease using the CPA title in Virginia if he is no longer licensed.
C. A holder of a Virginia license who is using the CPA title in another state under substantial equivalency provisions of statutes of the state or regulations promulgated by the board of accountancy of the state shall be subject to disciplinary action by the Board for an act or omission committed in that state. The Board may investigate any complaint made to or by the board of accountancy of any state related to the person’s use of the CPA title in that state.
D. The Board may cooperate and share information with appropriate authorities in other states in investigations or enforcement matters concerning violations of the provisions of this chapter or regulations promulgated by the Board and comparable statutes or regulations of other states or boards of accountancy.