Section 50. Determining whether the principal place of business of a person using the CPA title, or of a firm, is in Virginia

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Complying with subdivision A 1 of § 54.1-4409.1, subsection B of § 54.1-4411, or subsection B of § 54.1-4412.1 of the Code of Virginia requires the person or firm to use reasonable judgment in determining whether Virginia is the principal place of business in which the person provides services to the public using the CPA title or the firm provides attest services or compilation services. The determination shall be reasonable considering the facts and circumstances and can be based on quantitative or qualitative assessments. The determination shall be reconsidered for changes in facts and circumstances that are not temporary.

Historical Notes

Derived from Volume 26, Issue 24, eff. September 16, 2010.

Statutory Authority

§§ 54.1-4402 and 54.1-4403 of the Code of Virginia.

                    
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