To amend provisions about CPE & other topics.

Provides for the Board to establish regulations requiring CPE in ethics and to maintain a list of consultants to assist in investigations and to provide expert testimony in disciplinary proceedings. Further, the legislation increases the maximum penalty that may be imposed for a regulatory violation from $2500 to $100,000; requires a CPA practicing in VA under substantial equivalency to have an unrestricted license in the state of licensure; and changes the reporting year for CPE from July 1 through June 30 to January 1 through December 31 for certain transition rules.

Regulations promulgated to satisfy this statutory mandate were made final effective August 9, 2006 (see Volume 22, Issue 22 of the Virginia Register). However, because the regulatory chapter in question (18VAC5-21) has since been repealed in its entirety effective September 16, 2010, I am unable to link it or any Town Hall action associated with that chapter to this mandate to mark it as complete.