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VBOA news

Latest issue of VBOA newsletter, Accrued Interest, now available

January 2015

The winter issue of Accrued Interest, the Virginia Board of Accountancy’s biannual 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 Board chair, the Executive Director and news regarding the 2015 changes

to the Virginia Specific-Ethics Course, CPE Tracking, more clarity on the new Active – CPE Exempt status, Board Disciplinary Actions and much more.

As always, your comments and suggestions are welcomed so feel free to contact Kelli Anderson, VBOA Communications Manager, at We look forward to hearing from you.

Proposed changes to Board policies

January 2015

During the January 8, 2015 meeting, the Board proposed minor changes to:

The Board plans to vote on these changes during the April 30 meeting. All the current Board policies can be found at

Questions or comments regarding these policies can be sent to VBOA Communications Manager Kelli Anderson at (804) 367-1586 or at at least two weeks prior to the April Board meeting.

Changes to 2015 Virginia-Specific Ethics Course

December 2014

As of April 30, 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 as a provider of this course
  • Be listed on the Board’s website as an approved provider of this course
  • Submit all course 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 the 2015 Virginia-Specific Ethics Course Sponsor/Provider application 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 Course completed from a non-approved sponsor and the licensee will be penalized for not completing the approved course.

The course must be instructor-led but may be presented in a variety of different formats including, but not limited to, live seminars, conference sessions, online self-study, live webcast and webcast replays, on-demand webcast and in-house training.

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

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.

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

On the Road with the Traveling Board Meeting

November 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, VBOA Executive Director, 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 University, Virginia State University, University of Richmond, Longwood University and most recently the College of William and Mary in November 2014.

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 We’re reaching out to tomorrow’s CPAs.

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 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), 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 and Washington 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.