Agencies | Governor

Skip to content

News and Alerts from the Virginia Board of Accountancy (VBOA)

VBOA Enforcement Director position now open

August 2014

The Virginia Board of Accountancy is currently seeking an individual to serve as the Enforcement Director. The position establishes and directs the management and oversight of all enforcement functions (through investigation and adjudication) in accordance with the VBOA’s statutes and regulations, including both licensed and unlicensed activities, and serves as a Regulatory Board Investigator.

To apply for this position, applicants must apply through the Commonwealth of Virginia job website, under Board of Accountancy (226).

The Enforcement Director will direct significant influence on the timely resolution of enforcement/public protection cases, be responsible for the management of all

communications, both written and oral, to all parties involved in the complaint/investigative process, preparation and presentation of investigative reports, coordination of Informal Fact Finding (IFF) hearings, development and presentation of consent and board orders, recommendations and direct support to the Executive Director, Deputy Director and the Board’s Enforcement Committee, and presentation of cases to the full Board.

Read the full job description here [PDF]

 


New Board member announced

August 2014

Matthew Bosher was recently named the new Public Member of the Virginia Board of Accountancy by Gov. Terry McAuliffe. McAuliffe announced the additional administration appointment on Friday, Aug. 29.

Bosher, of Richmond, is a litigation partner with Hunton & Williams. His practice focuses on financial reporting and accounting matters. He has represented accounting firms and individual accountants in many SEC investigations and private lawsuits and has extensive experience dealing with accounting principles and professional standards.

Bosher joins the seven member board and fills the vacant Public Member position that Dave Brat left in early summer 2014.


VBOA’s newsletter, Accrued Interest, now available

August 2014

The August issue of Accrued Interest, the Virginia Board of Accountancy’s newsletter, is now ready for the Virginia CPA community. It’s packed with news and updates from the last few months relevant to you.

Inside this issue, you will find messages from the new Board chair, the Executive Director and news regarding the recently established Active CPE – Exempt status, upcoming Virginia-Specific Ethics Course changes and much more.

As always, your comments and suggestions are welcomed so feel free to contact the Communications Manager, Kelli Anderson, at kelli.anderson@boa.virginia.gov.


Active - CPE Exempt status now available

July 2014

The Virginia Board of Accountancy is pleased to announce that applications are now being accepted for our new status, Active - CPE Exempt.

Active - CPE Exempt affects CPAs who want to maintain their license but are not providing services to an employer or the public and don’t expect to for a period of time.

CPAs who qualify for this status will be allowed to renew their licenses annually by paying the renewal fee and continue to use the CPA title but will not need to fulfill CPE requirements.

A change in status requires approval by VBOA through an application process, including submission of a company bio/resume and job description, if currently employed when applying for the status change.

Please complete the Change of License Status Request Form on our website and return it to the VBOA office for review and approval. We encourage you to contact us with any questions or concerns regarding this new status at (804) 367-8505 or by email at boa@boa.virginia.gov.


Changes to 2015 Virginia-Specific Ethics Course

July 2014

As of May 27, 2014, the Virginia Board of Accountancy approved the Virginia Society of CPAs as the sole provider of the Virginia-Specific Ethics Course content and material beginning with the 2015 course.

Sponsors who are interested in providing the Virginia-Specific Ethics Course must meet the following requirements

  • Obtain the course contents and materials from the VSCPA
  • Be pre-approved annually by Board staff, in writing, as a provider of this course
  • Be listed on the Board’s website as a pre-approved provider of this course
  • Submit all participant comments to the Board within 60 days of receipt

The Board has also approved that all instructors of the Virginia-Specific Ethics Course must hold an active, in good standing, Virginia CPA license.

Potential sponsors will complete a form (to be provided at a later date) certifying the ethics material will be obtained from the VSCPA, provide a list of course instructors and submit it to

the VBOA for approval. Once approved, the sponsor will appear on the VBOA website as an approved provider of the Virginia-Specific Ethics Course. The Board will not accept any Virginia-Specific Ethics Courses completed from a non-approved sponsor and the licensee will be penalized for not completing the approved course.

Please contact the VBOA Director of Operations, Mary Charity, by phone at (804) 367-0495 or by email at mary.charity@boa.virginia.gov with any questions.


Welcome to the New VBOA e-Newsletter

March 2014

Our biggest issue yet, the 2014 March edition of "Accrued Interest" - the Virginia Board of Accountancy’s newly formatted e-Newsletter, is just a click away. Inside this issue you’ll find messages from our Board Chair and Executive Director, plus important updates and Board Announcements designed to keep the CPAs of Virginia "In the Know".

You’ll meet the Board in a photo montage, find out about the very first CPA Exam in Virginia, and learn how Virginia’s next generation of CPAs did on the 2013 Uniform Examination. Meet our two most recent Board members, review the Board’s disciplinary actions from late 2012 and all of 2013, and discover how you can become a contributor in your own artistic way to the next issue of Accrued Interest.

As always, your comments are welcomed. Contact our Communications Manager, Stephen Previtera, at stephen.previtera@boa.virginia.gov and share your thoughts. We look forward to hearing from you!.


On the Road with the Traveling Board Meeting

April 2014

The idea was simple but profound. What better way to “educate” future Virginia CPAs on the responsibilities of the Virginia Board of Accountancy than to hold actual board meetings at Virginia colleges and universities? Wade Jewell, Executive Director of the VBOA, realized the outreach potential of such an idea to accounting faculty and students and took the show on the road.

At least one board meeting a year is held at a Virginia college or university campus.

Since October 2010, Board meetings have been held at Virginia Commonwealth, Old Dominion and Virginia State Universities, the University of Richmond, and most recently Longwood University in November 2013.

If you are a faculty member of a Virginia college or university and would like your students to get an on- campus look at the inner workings of the VBOA Board, contact our Executive Director at wade.jewell@boa.virginia.gov We’re reaching out to tomorrow’s CPAs.


2014 Virginia-Specific Ethics Course

November 2013

The VBOA has released the 2014 Ethics Outline for the Virginia-Specific Ethics Course. The Board requires that all licensees providing services to the public or to an employer using the CPA title complete a Virginia-specific ethics course on an annual basis that complies with Board Regulation 18VAC5-22-90 and the annual outline approved by the Board. The 2-hour ethics course is a separate and distinct annual requirement from the one time 8-hour AICPA professional ethics course

needed for initial licensure. Sponsors who provide a Virginia-specific ethics course must ensure that the course content is compliant with the VBOA annual outline. Sponsors may not provide the course later than January 31 for the previous calendar year. The VBOA does not currently require licensees to obtain CPE from specific or approved sponsors, does not maintain agreements with sponsors and does not pre-qualify sponsors or individual courses. Sponsors must

provide to licensees at a minimum documentation of a certificate of completion that includes the sponsor's name, participant's name, course and content name, date taken, and CPE hours earned. It is the responsibility of licensees to complete a course that complies with Board Regulations and the annual outline. Licensees who believe the course taught by the instructor does not satisfy the requirements are encouraged to contact the VBOA.


Providing Volunteer Services as a Virginia CPA

May 2012

The VBOA receives many inquiries regarding services that a CPA may or may not provide as a volunteer to a not-for-profit entity. The Board encourages Virginia CPAs to serve their communities by donating their valuable knowledge and financial expertise as volunteers. Consistent with the role of protecting the public and assisting CPAs the VBOA has developed a guidance document for those providing volunteer services.

The document provides direction on subjects such as 1) the provision of firm-only services, 2) whether services that are not the practice of public accounting are attest services, 3) the compilation and presentation of both historical and prospective financial information, and 4) determining whether providing services would impair independence. Attachments include a roadmap for determining whether volunteer services

are subject to peer review and a chart for identifying types of volunteer services provided to not-for-profit entities that require compliance with technical standards.
The VBOA hopes this document will clarify the ethical and legal considerations of providing pro bono work to not-for-profits so as to ease the efforts of CPAs in giving back and paying forward.


CPAverify: Online Search Tool for the Public to Verify CPAs and CPA Firms

March 2012

CPAverify.org provides an online search for employers, professionals and the general public allowing anyone who may need to verify the status of an individual CPA and/or public accounting firm. Licensing information is provided by participating state boards of accountancy, including the VBOA. This online central repository of information on licensed CPAs and CPA firms is

maintained by the National Association of State Boards of Accountancy (NASBA) to make available a single-search resource covering participating jurisdictions where an individual or firm has been licensed. With the wide spread mobility legislation, the need for the public to determine if an individual or firm is licensed and in good standing is more important than ever.

CPAverify minimizes the need for consumers to check individually with each state board of accountancy to determine a CPA’s license status. With the support of participating state boards, this tool allows the public an opportunity to check the status of multiple licenses a CPA holds at one website with a single search.


CPAmobility: Online Search Tool for CPAs who Practice Across State Borders

March 2012

A joint project of the National Association of State Boards of Accountancy (NASBA) and the American Institute of CPAs (AICPA), CPAmobility.org is an online tool to help CPAs navigate the practice privilege requirements that allow CPAs to more easily work across jurisdictional borders. This tool is especially helpful to northern Virginia CPAs whose practice includes clients in Maryland & D.C.

The site works by posing three questions to the CPA:

  1. Where is your principal place of business (home state)?
  2. Where are you going to perform services (target state)?
  3. What services will you perform?

After processing, the site displays requirements on licensing

and registration of relevant jurisdictions allowing CPAs to spend valuable time on business opportunities rather than regulatory compliancy. Contact information for state boards of accountancy is also available on the CPAmobility search engine. NASBA and the AICPA hope you will find CPAmobility to be a resourceful tool with the potential to educate CPAs on mobility requirements and regulations.


New Board Regulations

September 16, 2010

New Board Regulations, 18VAC5-22-10 et seq. came into effect September 16, 2010.  The Board set 5 criteria in developing changes to the regulations that:
1) Removed regulations that are now addressed by Chapter 44 of Title 54.1, Code of Virginia;
2) Added the emergency regulation (education required to take the CPA examination) that became effective May 14, 2009;

3) Added interpretations required as a result of the 2007 revisions to the Code of Virginia;
4) Clarified the existing guidance that continues to be applicable; and
5) Eliminated the time-sensitive regulations no longer needed and the current regulations that only referred to other regulations.

The new regulations eliminated the confusion that existed from

inconsistencies between the statutes revised in 2007 and the previous regulations. Additionally, the new regulations have made compliance with the Code of Virginia easier, which makes it easier for licensees and their firms to conduct business in the Commonwealth.  A summary of key changes to the Accountancy Regulations is available.