CPE Requirements for CPAs in Virginia
CPE is essential for maintaining a professional license or designation with the AICPA. Because it demonstrates the will to keep up with changes in the industry and the ability to provide quality service. Generally, licensees in Virginia are required to renew their license every three years. And they also must complete 20 hours of CPE per year, with 120 hours every renewal period. Ultimately, the state Board of Accountancy is responsible for setting the Virginia CPA CPE requirements. Of course, this means deciding which forms of CPE are acceptable for meeting the license renewal requirements. And because the rules vary from state to state, it is important for licensees to know the qualifications for their area. If not, the variance between states can cause confusion and frustration for the license renewal process.
The table below also highlights the primary recertification limitations and deadlines for Virginia.
Virginia CPA CPE Requirements and Renewal Deadlines
|License Renewal Date||CPE Reporting Period||Total CPE Hours||Self-Study Credit Limitations|
|June 30 annually||January 1 – December 31 over three years||120 hours||None|
Subject Area Requirements
Each year, CPAs must complete at least 2 hours of Ethics CPE. Providers offering ethics courses also must register with the Board and/or have their content approved by the state Board. Licensees who release or authorize the release of reports on attest, compilation, or financial statement preparation services provided for persons or entities located in Virginia must complete a further 8 hours in Attest or Compilation Services each year.
Credit Limitations and Calculation
Virginia CPAs who provide formal instruction or presentations can obtain up to 30 hours of CPE credit, where credit equals presentation and preparation. Repeat instruction of the same material in a single renewal period is only accepted so long as the subject material has been substantially altered or changed.
CPAs who are enrolled in college or university courses can also claim CPE credit hours. Generally speaking, this credit is equal to 15 CPE hours per semester hour or 10 CPE hours per quarter hour.
Licensees can also obtain up to 60 hours of CPE credit in a renewal period for successful completion of certification examinations. But licensees should know the Board will only award the CPE hours for the year in which the exam was passed and the certification received.
Notably, credits may be obtained in partial increments of any amount.
Other Policies and Exemptions
January 31 is the deadline for obtaining CPE for the previous calendar year, also called the grace period.
A non-resident licensee may also meet Virginia CPA CPE requirements by completing the CPE requirements of their principal place of business. However, this state must have a CPE requirement, including an ethics requirement, to qualify.
CPAs in any of the following categories will automatically be exempt from license renewal requirements. However, they cannot offer any of their services to other parties to qualify.
- Retired licensees
- Unemployed members
- Those who have temporarily left the workforce
- Formally “inactive” members
Furthermore, waivers can be requested by CPAs for the following bases:
- Health complications
- Active-duty military service
- Extreme natural disasters, though subject to Board discretion
- Other similar circumstances which might also prevent a member from completing their CPE requirements
Additional CPE Resources for CPAs
Article written by Braden Norwood