News

The latest issue of Accrued Interest is out now. Check it out for details on:

• Important dates for the CPA Exam transition
• The four Virginia winners of the prestigious Sells Award
• The well-attended March VBOA meeting at Hampton University

Accrued Interest is published twice yearly in the winter and summer and is one of our primary sources for communicating to accounting professionals including individual licensees, firms and CPA exam candidates.

Share any questions or content ideas with Kelli Yoder, the Virginia Board of Accountancy communications coordinator: kelli.yoder@boa.virginia.gov or (804) 367-1586 .

You can find all of the VBOA’s previous newsletters here >>.

The UAA Model Rules have no immediate effect on state board rules. As the membership organization of the 55 U.S. Boards of Accountancy, NASBA, through its Uniform Accountancy Act Committee, provides the Model Rules as recommendations to boards for adoption whereby uniform adoption is encouraged. As such, each individual board may consider the amendment to the Model Rule 5-7 and, if so choose, commence a process to change the rules at the state level. Current Exam candidates remain under existing rules until, if and when, the board to which they applied makes changes.

The latest Virginia Board of Accountancy’s newsletter, Accrued Interest, is now available. The winter 2023 issue is filled with news and updates from the last few months. Articles include information tailored to individual licensees, firms and CPA exam candidates.

The winter issue includes information about the current CPA pipeline decline, future of the CPA exam, license renewals, 2023 ethics courses, disciplinary actions and much more.

The newsletter remains one of the VBOA’s central sources of communicating to the accounting professionals. The VBOA distributes Accrued Interest twice each year, in the summer and in the winter.

Contact Kelli Anderson, VBOA Communications Manager, at kelli.anderson@boa.virginia.gov or at (804) 367-1586 with any comments and suggestions.

Do not forget to look back at the VBOA’s previous newsletters.

Beginning Feb. 1, 2023, CPAs can begin meeting the annual ethics CPE requirement. Approved courses of the VBOA-approved ethics course are posted on the website at https://boa.virginia.gov/individual-cpas/cpe/vboa-approved-ethics-course/approved-ethics-courses-and-providers-2023/.

The VBOA pre-approves all providers and courses to meet the 2023 ethics requirement. It is the CPAs responsibility to choose an ethics course from a VBOA-approved provider.

Courses and providers will continue to be approved and posted on the VBOA website throughout 2023.

Providers and CPAs can review the frequently asked questions page about the ethics format along with questions about the application process for new providers.

Providers interested in offering a 2023 VBOA-approved ethics course can apply online at https://boa.virginia.gov/individual-cpas/cpe/vboa-approved-ethics-course/approved-ethics-courses-and-providers-2023/.

During the Monday, Jan. 9, 2023, meeting, the Board reviewed and approved changes to the following policy:

• Policy #9: Inactive Status Procedure for Approval/Denial/Appeal

These changes will be effective starting on March 27, 2023.

Questions or comments regarding updates to the policy can be directed to VBOA Communications Manager Kelli Anderson at (804) 367-1586 or at kelli.anderson@boa.virginia.gov.

The Virginia Board of Accountancy’s newsletter, Accrued Interest, is now available online. The summer 2022 issue is filled with news and updates from the last few months. Articles include information tailored to individual licensees, firms and CPA exam candidates.

The summer issue includes information about protecting the public through enforcement, new Board members, CPA Evolution transition, Saunders being named national Vice Chair, disciplinary actions and much more.

The newsletter remains one of the VBOA’s central sources of communicating to the accounting professionals. The VBOA distributes Accrued Interest twice each year, in the summer and in the winter.

Contact Kelli Anderson, VBOA Communications Manager, at kelli.anderson@boa.virginia.gov or at (804) 367-1586 with any comments and suggestions.

Also, please do not forget to look back at the VBOA’s previous newsletters.

Gov. Glenn Youngkin appointed David Cotton, CPA, CFE, CGFM, of Alexandria, as the newest Board member of the Virginia Board of Accountancy.

Cotton is the founder and Chairman Emeritus of Cotton & Company, a practice concentrating in assist­ing federal and state agencies, inspectors general, and government grantees and contractors with a variety of govern­ment program-related assurance and advisory services. 

Cotton has testified as an expert in governmental accounting, auditing, and fraud issues before the United States Court of Federal Claims, the Armed Services Board of Contract Appeals, and other administrative and judicial bodies.

He began his term on July 1, 2022, and took over for previous Board member W. Barclay Bradshaw, CPA.

As of July 1, 2022, the VBOA will no longer accept credits or credentials issued by the Association of Chartered Certified Accountants (ACCA) and similar accounting professional organizations. All evaluation of foreign education must be from properly accredited colleges or universities.

Applicants may submit accounting certificates or other credentials issued by a professional accounting body for evaluation. The VBOA recognizes all mutual recognition agreements entered into by the NASBA/AICPA International Qualifications Appraisal Board. Applicants with a credential from one of those bodies may apply to become a Virginia CPA under the procedures for mutual recognition. These applicants will not require evaluation of their education.

Applicants who submit credits or credentials from an accounting body not party to a mutual recognition agreement (e.g. the Association of Chartered Certified Accountants) will be denied.

Virginia state law requires CPA applicants be graduates of accredited educational institutions or institutions whose accreditation is substantially equivalent to those of American institutions. Educational institutions are usually colleges or universities.

The VBOA has determined that the ACCA, and other organizations which lack a mutual recognition agreement with the NASBA/AICPA IQAB, are not educational institutions and do not issue degrees.

Learn more about approved education evaluation firms at https://boa.virginia.gov/cpa-exam/requirements/education-evaluation-firms/.

Gov. Glenn Youngkin appointed Dale G. Mullen, of Hanover, as the newest Board member of the Virginia Board of Accountancy.

Mullen is the Public Board member and a Partner in the law firm Whiteford, Taylor & Preston, LLP. He leads the firm’s Regulatory Compliance, Administrative Law, and Government Investigations section. 

He is a United States Navy veteran and served in the Organized Crime Division of the Richmond Police Department and as a Command Sergeant of the Audit and Inspections Unit, Assistant Attorney General, and Chief Prosecutor for the Commonwealth of Virginia, Special Assistant United States Attorney (SAUSA), county attorney, and county administrator.

Mullen began his term on March 15, 2022, and took over for previous Board member Jay Bernas.

Beginning Feb. 1, 2022, CPAs can begin taking approved ethics courses to meet the 2022 annual requirement.

The VBOA approves all providers and courses ahead of time and it is the CPAs responsibility to choose an ethics course from a VBOA-approved provider. Courses will continue to be approved and posted on the VBOA website throughout 2022.

All approved courses can be found under CPE.

Providers and CPAs can review the frequently asked questions about the ethics format along with questions about the application process for new providers.

The 2022 VBOA-approved ethics course provider application is also available online.