W. Va. Code R. § 1-1-12 - Issuance and Renewal of Authorizations

12.1. No individual practitioner or firm may provide attest or compilation services without first having obtained an authorization issued by this Board unless the individual practitioner or firm meets the substantial equivalency practice privilege exceptions below:

12.1.a. Individual practitioners who have substantial equivalency practice privileges who provide only compilation services performed in accordance with Statements on Standards for Accounting and Review Services who:

12.1.a.1. Sign compilation reports as a certified public accountant;

12.1.a.2. Meet the competency requirements set forth in the professional standards for those services; and

12.1.a.3. Are undergoing a peer review program that conforms with applicable laws and rules;

12.1.b. Out-of-state firms who provide only compilation services performed in accordance with Statements on Standards for Accounting and Review Services who:

12.1.b.1. Meet firm ownership requirements;

12.1.b.2. Are undergoing a peer review program that conforms with applicable rules; and

12.1.b.3. Performs the services through an individual with substantial equivalency practice privileges.

12.2. The Board may issue an authorization to an individual practitioner who tenders the fee specified in Section 18 of this Rule and provides the following information:

12.2.a. The name of the individual applying and the individual practitioner's certificate or registration number;

12.2.b. The location of each office within the state from which the individual practitioner performs accounting services;

12.2.c. Any issuance, denial, revocation, suspension, probation, or censure of any certification issued by this state or an out-of-state accountancy Board;

12.2.d. Verification that the individual practitioner who signs attest and compilation reports as a certified public accountant or public accountant meets the competency requirements set forth in the Generally Accepted Auditing Standards published by the AICPA (for attest services) and/or the Statements on Standards for Accounting and Review Services published by the AICPA (for compilation services); and

12.2.e. Verification that the individual practitioner has timely completed a peer review (as discussed in Section 8 of this Rule) in a satisfactory manner as determined by the Board.

12.3. The Board may issue an authorization to a firm that holds a permit or a firm that applies for a permit who tenders the fee specified in Section 18 of this Rule and provides the following information:

12.3.a. The names of all partners, officers, shareholders, members or managers of the firm whose principal place of business is in this state and each individual's certification or registration number, (if applicable);

12.3.b. The location of each office of the firm within the state and the name of the certified public accountant or public accountant in charge of each office, (if applicable);

12.3.c. Any issuance, denial, revocation, suspension, probation, or censure of a permit issued by this or another state Board;

12.3.d. Verification that any certified public accountant or public accountant who signs or authorizes someone to sign a report on financial statements on behalf of the permit holder meets the competency requirements set forth in the Generally Accepted Auditing Standards published by the AICPA (for attest services) and/or the Statements on Standards for Accounting and Review Services published by the AICPA (for compilation services); and

12.3.e. Verification that the permit holder has timely completed a peer review (as discussed in Section 8 of this Rule) in a satisfactory manner as determined by the Board.

12.4. A firm may simultaneously apply for the issuance or renewal of a permit and the issuance or renewal of an authorization by demonstrating that the firm meets the requirements of Section 11 of this Rule and Section 12 of this Rule.

12.5. The Board shall renew an authorization for a period of one year beginning on the first day of July of each year.

Notes

W. Va. Code R. § 1-1-12