54.1-4413.5 - Confidential consent agreements. - Virginia Statutes

§ 54.1-4413.5. Confidential consent agreements.

A. The Board may enter into a confidential consent agreement with a person orfirm in lieu of disciplinary action.

B. A confidential consent agreement:

1. Shall be entered into only in cases involving minor violations of theprovisions of this chapter or regulations promulgated by the Board;

2. Shall not be disclosed by the person or firm;

3. Shall include findings of fact and may include an admission or a findingof a violation; and

4. Shall not be considered a notice or order of the Board but may beconsidered by the Board in future disciplinary proceedings.

C. The Board shall adopt regulations in accordance with the AdministrativeProcess Act (§ 2.2-4000 et seq.) to implement the provisions of this section.Such regulations shall identify the type of minor violations for whichconfidential consent orders may be offered and limit the number ofconfidential consent orders that may be offered to the same licensee in anygiven period. The Board shall not enter into a confidential consent agreementif there is probable cause to believe a licensee has demonstrated grossnegligence or intentional misconduct in the practice of public accounting.

(2007, c. 804.)