First, it is rarely necessary to provide cover plates over a butt splice weld if the weld is done properly.
Next, the ends are initially cut square, but then are prepared to receive a complete joint penetration weld by a welder who is qualified to make such welds. In the US, the joint configuration can be either pre-qualified (meaning that it fits one of the many standard joint configurations) or it can be separately qualified by testing. Assuming the joint configuration is pre-qualified, then the next necessity is to have a Welding Procedure Specification that lays out the sequencing, size and type of weld to be used in that joint. Then the welder has to be qualified to the Welding Procedure Specification in the proper position of welding (flat, horizontal, vertical upward or downward, and overhead), using a particular welding process (gas metal arc welding (GMAW), flux core arc welding (FCAW), gas tungsten arc welding (GTAW) or the more common shielded metal arc welding (SMAW)), with a particular filler material (electrode) with the weld properties and position compatibility that you need.
All of these are laid out in the American Welding Society's codes and standards, the most common of which is AWS D1.1, Structural Welding Code- Steel. There are other welding requirements depending on the country you are in.
The purpose of the complete joint penetration weld it to achieve a splice that develops the full tensile strength of the member being spliced.
The completed weld should then be inspected and tested for compliance with appropriate standards using acceptable nondestructive testing methods such as ultrasonic flaw detection, radiography, or others as appropriate to the application. Rejected welds must be removed and the process repeated.