Virginia operates on a rolling three-year calendar cycle with annual license renewal on June 30. CPAs must complete 120 hours over three years with a minimum of 20 hours annually. The Virginia Board of Accountancy (VBOA) requires a 2-hour Virginia-approved ethics course each year, and CPAs performing attest or compilation services must complete 8 hours annually in those areas. No carryforward is permitted.
General requirement
CPAs must complete 120 hours of CPE over a rolling three-calendar-year period, with a minimum of 20 hours completed each year. The reporting period runs Jan. 1 through Dec. 31 on a rolling basis. License renewal is due June 30 annually.
CPE for the previous calendar year may be completed by Jan. 31.
Ethics requirement
Virginia requires 2 hours of VBOA-approved, Virginia-specific ethics CPE each year. The course provider must be registered with the VBOA, and course content must be approved by the board.
This requirement applies every year and cannot be satisfied with carryforward credits.
Accounting and auditing requirement
CPAs who release or authorize the release of reports on attest services, compilation services or financial statement preparation services for Virginia clients must complete 8 hours annually in those subject areas.
Credit limitations
- Exams and certifications: Maximum of 60 hours per three-year period, calculated at 5 CPE hours per hour of exam time.
- Instruction and presentations: Maximum of 30 hours per three-year period.
- Published materials: Maximum of 30 hours per three-year period.
- Self-study: No hour restriction. Up to 100% of the requirement may be completed through self-study, provided learning objectives are demonstrated.
- Nano learning: Accepted.
Credit calculation
- Standard measurement: One CPE credit equals 50 minutes of instruction.
- Instruction: Credit equals presentation time plus preparation time, with preparation limited to two times presentation time.
- Repeat presentations: No additional credit for presenting the same material.
- University credit: 15 CPE hours per semester hour and 10 CPE hours per quarter hour.
- Certifications and exams: 5 CPE hours per hour of exam length.
New licensees
CPE requirements phase in for newly licensed CPAs:
- License applied for in the same calendar year as passing the CPA exam: No CPE required for initial licensure.
- First full calendar year after licensure: 40 hours, including 2 ethics hours.
- Second full calendar year: 80 cumulative hours, including 2 ethics hours each year.
- Third full calendar year: 120 cumulative hours, including 2 ethics hours each year.
Carryforward
Virginia does not allow carryforward of excess CPE credits. All 120 hours over three years and the 20-hour annual minimum must be earned within those respective periods.
Nonresident CPAs
Nonresident licensees whose principal place of business is outside Virginia may satisfy Virginia's CPE requirements by meeting the requirements of the state in which they are actively licensed.
If that state does not include an ethics requirement, the CPA must still complete Virginia's annual 2-hour ethics requirement.
Provider requirements
The VBOA does not prequalify CPE sponsors or individual courses, with the exception of ethics courses. The board accepts CPE from NASBA National Registry sponsors and encourages compliance with the AICPA/NASBA Statement on Standards for Continuing Professional Education Programs.
Ethics course providers must register with the VBOA, and course content must be approved by the board.
CPE audit and documentation
The VBOA conducts random CPE audits. Licensees selected for audit must submit documentation through NASBA's CPE Audit Service.
Documentation must be retained for the four calendar years preceding the current year. The VBOA does not accept receipts, registration confirmations, canceled checks, outlines, PowerPoint presentations or sign-in sheets as valid CPE documentation.