Guide to Becoming a CPA in Virginia
If you're considering becoming a Certified Public Accountant in Virginia, you've chosen a state with a supportive environment for aspiring CPAs. The Virginia Board of Accountancy (VBOA) regulates CPA licensing, ensuring that candidates meet high standards of education, experience, and ethics. Here's an overview of what it takes to become a CPA in Virginia.
Educational Requirements
Before sitting for the CPA Exam, candidates must meet these criteria:
Undergraduate Degree: A bachelor's degree or higher from a regionally accredited college or university.
Accounting Coursework: 24 semester hours in accounting courses above the foundational level, including courses in financial accounting, auditing, taxation, and managerial/cost accounting.
Business Coursework: 24 semester hours in business courses, with a limit of six semester hours in accounting.
Total Semester Hours for Licensure: 150, including the above requirements.
Work Experience Requirements
Virginia requires:
Experience: 1 year (2,080 hours) of full-time employment in academia, private, or government industries with substantial experience in finance, accounting, and taxation.
Ethics Exam
Candidates must complete an 8-hour ethics course and pass the accompanying exam with a score of 90% or higher.
Residency and Citizenship Requirements
Age: Minimum of 18 years old.
Citizenship: U.S. citizenship is not required.
Residency: No residency requirement in Virginia.
Social Security Number Requirement
Candidates must provide a Social Security number for CPA licensure in Virginia.
International CPA Examination Program
Virginia participates in this program, facilitating non-U.S. citizens to become CPAs. Candidates’
credentials are evaluated by NASBA-approved authorities.
CPA Exam and Licensing Fees
The fees in Virginia are:
Initial Application Fee: $120.00
Examination Fees (per section):
AUD: $238.15
BEC: $238.15
FAR: $238.15
REG: $238.15
Total for all sections: $1,072.60
Initial Licensing Fee: $75
License Renewal
Virginia CPAs must renew their licenses annually by June 30. The renewal fee is $60.
Continuing Professional Education (CPE) Requirements
Total Hours: 120 hours of CPE over three years, with at least 20 hours per year and 40 hours in the first year after passing the CPA Exam.
Conclusion
Achieving CPA licensure in Virginia involves fulfilling educational prerequisites, passing the CPA Exam, completing relevant work experience, adhering to ethical standards, and engaging in ongoing professional development through CPE. Virginia’s dynamic business landscape offers numerous opportunities for CPAs to thrive in various sectors. Continuous learning and adherence to professional standards are key to maintaining CPA licensure and excelling in the accounting profession in Virginia.
