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Summer 2022 newsletter available online

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.

Cotton begins Board member term

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.

VBOA no longer accepts foreign accounting credentials (ACCA)

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/.

Governor appoints new Board member

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.

Renew CPA licenses now

The Virginia Board of Accountancy opened license renewals for all CPAs and firms on March 1, 2022.

All Virginia CPAs who hold an Active or Inactive license and all CPA firms must renew their license annually by June 30, 2022

CPA licenses can be renewed on the VBOA website from March 1 through June 30 by logging into the online account. The expiration date to renew is June 30. There is no grace period for renewals.

The annual renewal fee for an individual license is $60 and the renewal fee for a firm license is $75. An additional processing fee of $25 will be added if renewing by check.

Login to renew on the VBOA website at https://cpaportal.boa.virginia.gov/eGov.

Unrenewed licenses will automatically go into Expired status on July 1, the day after the renewal is due. Once the license goes into Expired status, it will be the responsibility of the licensee or firm to reinstate the license.

Please contact the VBOA by email at boa@boa.virginia.gov or by phone at (804) 367-8505 with any questions regarding renewals.

VBOA-approved ethics courses now available for 2022

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 at https://boa.virginia.gov/individual-cpas/cpe/vboa-approved-ethics-course/approved-ethics-courses-and-providers-2022/.

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.

Winter 2022 newsletter now available online

The Virginia Board of Accountancy’s newsletter, Accrued Interest, is now available online. The winter 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 winter issue includes information about the CPA Evolution initiative, licensing renewals, 2022 ethics course, 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 January and in July.

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.

VBOA to hold Board meeting at Radford University on Nov. 30

The Radford University Department of Accounting, Finance and Business Law and the Davis College of Business and Economics are hosting the VBOA’s next Board meeting on Tuesday, Nov. 30, 2021. The meeting will be held on Radford’s campus in Kyle Hall, Room 340.

Radford students, faculty and staff are invited and encouraged to attend the public meeting to learn more about how the VBOA conducts business related to CPAs and the accounting industry. The meeting begins at 10 a.m. and runs throughout the day. Attend all or some of the meeting as your schedule permits.

For more information, contact Kelli Anderson at kelli.anderson@boa.virginia.gov or view the meeting agenda at www.boa.virginia.gov/BoardMeetings/index.shtml.

Summer 2021 newsletter available

The Virginia Board of Accountancy’s newsletter, Accrued Interest, is now available online. The summer 2021 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 celebrating the centennial of the first Black CPA, a former Chair being honored, Inactive status requirements, 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 January and in July.

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.

License renewals open for 2021

The license renewals opened on March 1, 2021, for individuals and firms.

All Virginia CPAs who hold an Active or Inactive license and all CPA firms must renew their license annually by June 30, 2021. 

The annual renewal fee for an individual license is $60 and the renewal fee for a firm license is $75.

Login to renew on the VBOA website at https://cpaportal.boa.virginia.gov/eGov.

Please contact the VBOA by email at boa@boa.virginia.gov or by phone at (804) 367-8505 with any questions regarding renewals.