Virginia: CPE, firm permit and peer review rules for CPAs.

This page lists what the Virginia board of accountancy publishes for a CPA and a CPA firm: CPE hours and the reporting period, the ethics requirement, whether a firm permit or registration is required, whether peer review is required, the licence renewal cycle, and whether an out-of-state CPA may practise under a practice privilege.

It is built for owners of small accounting and bookkeeping firms, especially those licensed in one state and serving clients in another. Every entry is a snapshot of what the cited source published on the verification date; it is a research starting point, not licensing advice.

Virginia, field by field.

Board of accountancy

Virginia Board of Accountancy (VBOA)

CPE hours & reporting period

120 hours over a rolling three-calendar-year period (January 1–December 31), with a minimum of 20 hours in each calendar year. 18VAC5-22-90(A): a licensee must have at least "120 hours of continuing professional education during the three-calendar-year period" ending with the current year, with at least 20 hours in each calendar year. VBOA CPE page: "Active CPAs must complete 120 CPE hours over a rolling three-year period, with a minimum of 20 hours annually"; "The VBOA uses a rolling three-calendar-year period (Jan. 1-Dec. 31) to determine CPE compliance"; "any CPE you complete before Jan. 31 of the following year may be applied towards the prior calendar year's requirement." Persons who release or authorize the release of reports on attest, compilation or financial statement preparation services "shall annually obtain a minimum of eight hours of continuing professional education" related to those services, counted within the 120 (18VAC5-22-140(A)). VBOA CPE page: "CPE documentation must be retained for the four calendar years preceding the current calendar year."

Ethics CPE requirement

2 hours each calendar year of a VBOA-approved ethics course, counted within the 120 hours. 18VAC5-22-90(A): at least 2 hours of each year's total must be an ethics course that meets Board requirements. VBOA CPE page: the 120 hours include "a two-hour VBOA-approved ethics course." A CPA holding an active licence in another state whose principal place of business is outside Virginia may take "an ethics course acceptable to the board of accountancy in the state in which the CPA holds the license" (VBOA CPE page; 18VAC5-22-90(A)).

CPA firm permit / registration

A Virginia firm licence is required for attest, compilation and financial statement preparation services and for use of the CPA title. Va. Code § 54.1-4412.1(A): only a licensed firm may provide attest, compilation or financial statement preparation services to persons or entities located in Virginia; § 54.1-4412.1(B): a firm whose principal place of business is in Virginia and that provides those services must hold a Virginia licence; § 54.1-4412.1(F): a firm may use the CPA title in Virginia only if it holds a Virginia licence or a home-state licence permitted under subsection C. VBOA Firms page: "Any firm using the CPA title, or providing attest services, compilation services or financial statement preparation services to persons or entities located in Virginia must hold a Virginia firm CPA license" unless its principal place of business is not in Virginia. Ownership: § 54.1-4412.1(D)(1) requires at least 51% of owners and of voting equity to be licensees (or eligible ESOP trustees or qualifying firms); VBOA: "At least 51% of the owners and the voting equity interest of the firm must be CPAs." Renewal is annual by June 30 (18VAC5-22-180(A)); VBOA firm renewal page: licensed firms "must renew their individual license annually by June 30", renewal opens March 1, fee $75, unrenewed licences go to Expired status July 1, reinstatement fee $500; an expired firm "may not provide attest or compilation services until reinstatement". Application fee $100 (VBOA firm requirements page).

Peer review requirement

Required for firms whose services fall within the AICPA practice-monitoring program. Va. Code § 54.1-4412.1(D)(6): if the AICPA practice-monitoring program covers the firm's services, the firm must enroll in it or in a Board-approved alternative, comply with Board requirements arising from peer review results, and participate in the AICPA Facilitated State Board Access process or another Board-approved process. 18VAC5-22-150: "a firm shall comply with all components of the monitoring program in which it is enrolled"; the Board may waive the requirement or allow additional time depending on facts and circumstances. VBOA Peer Review page: "Firms gaining licensure after July 1, 2017, who provide attest and compilation services must first enroll in peer review"; a firm that does not issue reports "purporting to be in accordance with AICPA professional standards" is not required to enroll; the enrollment requirement "is not tied to firm licensure for Virginia CPA firms." Firm renewals "require affirmation of complying with peer review requirements" (VBOA firm renewal page). Review cycle: Not stated in this pass (no cycle length appears on the VBOA pages or in 18VAC5-22-150).

Licence renewal cycle

Annual; the individual licence expires June 30. 18VAC5-22-180(A): a licence holder must renew "on or before June 30 of each calendar year"; 18VAC5-22-180(B): a licence issued or reinstated on or after March 1 does not expire until June 30 of the following year; 18VAC5-22-180(C): the duty to renew "is not affected by whether the holder receives a license renewal notice." Va. Code § 54.1-4413.2(B): a licence not renewed "shall be considered to have expired." VBOA renew page: "All Virginia CPAs who hold an Active or Inactive license must renew their individual license annually by June 30"; renewal opens March 1; fee $60; "Unrenewed licenses will automatically go into Expired status the day after the renewal is due, on July 1"; reinstatement fee $350; CPE is affirmed at renewal and documentation is submitted only on VBOA request.

Mobility / practice privilege

Yes, by statute, with no notice or fee. Va. Code § 54.1-4411(A): a person who holds a licence "in good standing" from another state, U.S. territory or D.C. and has passed the CPA examination is granted practice privilege to provide services to the public in Virginia; no notice to the Board or fee is required. § 54.1-4411(B): using the CPA title in Virginia requires consent to the chapter and Board regulations, Board disciplinary jurisdiction, service of process on the executive director of the issuing state's board, jurisdiction of Virginia courts, and ceasing use of the title if no longer licensed. § 54.1-4412.1(C): a firm whose principal place of business is outside Virginia does not need a Virginia firm licence if it holds a home-state licence, complies with subsection D, and its engagement personnel hold a Virginia licence or an out-of-state licence meeting § 54.1-4411 (or work under a supervisor who does). The VBOA out-of-state page asks "Not sure if you need a Virginia license or can operate under practice privilege, per § 54.1-4411?" and links a flowchart described as guidance only.