Educational Requirements
Candidates for CPA licensure in the state of Virginia must hold at least a bachelor’s degree or graduate degree with 150 credit hours. Candidates with a bachelor’s degree with an accounting concentration or equivalent and 120 credit hours can take any part of the CPA exam.
Salary
In May 2011, the Bureau of Labor Statistics (BLS) estimated that 35,210 accountants and auditors were employed in Virginia. The annual mean wage for accountants and auditors in Virginia in 2011 was $74,340.
CPA Licensing in Virginia
Virginia CPAs are licensed by the Virginia Board of Accountancy (VBOA). To become licensed, a person must first take the CPA exam after meeting the following requirements:
- Hold at least a bachelor’s degree from a board-approved accredited institution.
- Completed 120 credit hours with 24 hours of accounting courses and 24 hours of business courses.
Requirements to be issued a certificate (license):
- Completed 150 hours and hold a bachelor’s degree or graduate degree with an accounting concentration or equivalent.
- Pass the CPA exam.
- Complete the AICPA’s professional ethics course with a passing grade of 90 or above.
- One year of full-time employment in any capacity involving the substantial use of accounting, financial, tax, or other skills that are relevant, as determined by the VBOA, to providing services to the public using the CPA title or to an employer using the CPA title.
Continuing Education Requirements
All licensed Virginia CPAs must renew their individual license annually. Virginia CPAs must complete at least 20 hours of continuing professional education (CPE) annually and 120 hours total every three years. Each calendar year, Virginia CPAs must complete a Virginia-specific ethics course and an annual outline created by the VBOA. Qualifying CPE for Virginia CPAs includes attending seminars or educational conferences, earning course credit at an accredited institution, completing a self-study course, making a presentation, and publishing written material.
Accounting Jobs in Virginia
The unemployment rate in Virginia remains one of the lowest in the nation, and the state is widely acknowledged as a top state for business. Two large CPA firms, PricewaterhouseCoopers and Kearney and Company, are located in Virginia and offer potential employment to CPAs. Federal, state, and local government positions are available to CPAs in Virginia, as well as positions in small partnerships and regional firms.