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2003 SESSION

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SB 1329 Board of Accountancy; powers.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Board of Accountancy; powers. Amends several Code provisions relating to the Board of Accountancy. The bill provides for the Board to establish regulations requiring continuing professional education in ethics and to maintain a list of consultants to assist in investigations and to provide expert testimony in disciplinary proceedings. The bill (i) increases the maximum penalty that may be imposed for a regulatory violation from $2,500 to $100,000, (ii) requires a certified public accountant practicing in the Commonwealth under substantial equivalency to have an unrestricted license in the state of licensure, and (iii) changes the reporting year for continuing profession education from July 1 through June 30 to January 1 through December 31 for certain transition rules. A second enactment clause authorizing the promulgation of emergency regulations is also included.


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