Virginia Board of Accountancy

The agenda includes a peer review oversight committee report, board member training, and an enforcement agenda consisting of consent orders, informal fact-finding hearing recommendations, a payment plan request, a reconsideration request, and eligibility recommendations. Additionally, the meeting will feature updates from NASBA and AICPA committees, administrative reports from the executive director's office, and a discussion session covering the principal place of business, CPE reporting changes, AICPA code and standard revisions, and the 2026 strategic plan. A closed session may be held to address contract, personnel, or legal matters.

The meeting includes an enforcement agenda featuring consent orders and recommendations after informal fact-finding hearings. Board members will receive updates on NASBA and AICPA committee activities, the executive director's report covering financials and regulatory updates, and communications. Specific discussion topics include the principal place of business, changes to CPE reporting periods, revisions to the AICPA Code of Professional Conduct regarding alternative practice structures, and the 2026 Strategic Plan. The meeting will also include a closed session for contract, personnel, or legal matters.

The Peer Review Oversight Committee (PROC) meeting included an introduction of the new PROC liaison. A recap of PROC activities detailed that the committee oversees six Report Acceptance Body (RAB) meetings annually, noting that a lack of peer reviewers presents a challenge. The committee also discussed AICPA meetings and the annual report creation process. Staff informed the committee of a new AICPA exposure draft regarding ethics and alternative practice structures. Discussion also covered PROC confidentiality, challenges in peer review related to alternative practice structures, and private equity investment. The PROC chair announced the completion of the annual PROC report, which is scheduled for presentation at the next Board meeting.

The meeting commenced with the determination of a quorum and the approval of the agenda. A new Board member, Christine Williamson, CPA, was introduced. Key discussion items included public comments on proposed changes to the Inactive, Emeritus, and Expired/Suspended/Revoked License Status Policy, with the VSCPA suggesting removing the restriction on volunteerism. The Enforcement Agenda involved reviewing and taking action on several cases, resulting in fines and license actions, including a $25,000 fine for Case #2025-0198 and license revocation for Case #2025-0204. Committee updates were provided on NASBA activities, including feedback requested on the Private Equity Task Force White Paper by January 31, 2026. The Executive Director's Report covered general updates, licensing system progress (which was marked as 'red'), and enforcement division status. A significant regulatory update involved the decision to withhold most proposed fee increases, except for eliminating the re-exam fee, due to likely non-approval from the Secretary's Office. Discussions also included CPE reporting requirements and future topics like the 2026 Strategic Plan. The Board approved the Inactive/Emeritus Status Policy with edits, effective July 1, 2026.

The agenda includes a security briefing, determination of quorum, and approval of the agenda and previous board meeting minutes. The board will discuss enforcement agenda items, including recommendations after informal fact-finding hearings and eligibility recommendations. Updates will be provided by NASBA and AICPA committees, the Executive Director, and on financial and board reports, enforcement, regulation, and communications. Discussion topics include the licensing system update, changes to Inactive/Emeritus status policy, a response letter to the NASBA-AICPA CPE Standards exposure draft, and the NASBA APS/PE Task Force White Paper. Additional discussion will cover changes to CPE reporting period requirements and Peer Review Oversight Committee changes. A closed session may be held for contract and/or legal matters, and future meeting dates will be discussed.