CHAPTER 235
An Act to amend and reenact §§ 54.1-4400 and 54.1-4409.1 of the Code of Virginia, relating to Board of Accountancy; licensing requirements; inactive and emeritus status.
[S 605]
Approved April 6, 2026
Be it enacted by the General Assembly of Virginia:
1. That §§ 54.1-4400 and 54.1-4409.1 of the Code of Virginia are amended and reenacted as follows:
§ 54.1-4400 . Definitions.
As used in this chapter, unless the context requires a different meaning:
"Accredited institution" means a degree-granting institution of higher education accredited either by (i) one of the regional accrediting organizations, including the Middle States Association of Colleges and Schools, New England Commission of Higher Education, Higher Learning Commission, Northwest Commission on Colleges and Universities, Southern Association of Colleges and Schools Commission on Colleges, and WASC Senior College and University Commission, or their successors or (ii) an accrediting organization demonstrating to the Board periodically, as prescribed by the Board, that its accreditation process and standards are substantially equivalent to the accreditation process and standards of the regional accrediting organizations.
"Assurance" means any form of expressed or implied opinion or conclusion about the conformity of a financial statement with any recognition, measurement, presentation, or disclosure principles for financial statements.
"Attest services" means audit, review, or other engagements performed in accordance with the standards that have been established by the Public Company Accounting Oversight Board, by the Auditing Standards Board or the Accounting and Review Services Committee of the American Institute of Certified Public Accountants, or by any successor standard-setting authorities.