TITLE 18. PROFESSIONAL AND OCCUPATIONAL LICENSING

BOARD OF ACCOUNTANCY

Emergency Regulation

Title of Regulation: 18VAC5-22. Board of Accountancy Regulations (amending 18VAC5-22-70, 18VAC5-22-100, 18VAC5-22-120; repealing 18VAC5-22-110).

Statutory Authority: §§ 54.1-4402 and 54.1-4403 of the Code of Virginia.

Effective Dates: July 17, 2025, through January 16, 2027.

Agency Contact: Alessandra Gabriel, Information and Policy Advisor, Board of Accountancy, 9960 Mayland Drive, Suite 402, Henrico, VA 23233, telephone (804) 367-0728, FAX (804) 527-4409, TDD (804) 367-9753, or email alessandra.gabriel@boa.virginia.gov.

Preamble:

Section 2.2-4011 B of the Code of Virginia states that agencies may adopt emergency regulations in situations in which Virginia statutory law or the appropriation act or federal law or federal regulation requires that a regulation be effective in 280 days or less from its enactment, and the regulation is not exempt under the provisions of § 2.2-4006 A 4 of the Code of Virginia.

The amendments revise the regulation to comply with Chapters 523 and 539 of the 2025 Acts of Assembly, which (i) eliminate the 150-hour education requirement for certified public accountant licensure, (ii) outline three additional licensure pathways, and (iii) redefine requirements regarding substantial equivalency and practice privilege.

18VAC5-22-70. Education.

A. In order for a person to take the CPA examination through Virginia, the person must have obtained from one or more accredited institutions at least 120 semester hours of education, a baccalaureate or higher degree, and an accounting concentration or equivalent prior to taking any part of the CPA examination.

B. For the purpose of complying with subsection A of this section and with subdivision A 1 a of § 54.1-4409.2 of the Code of Virginia, obtaining an accounting concentration or equivalent requires obtaining at a minimum:

1. 24 semester hours of accounting courses that must include courses in auditing, financial accounting, accounting information systems, and taxation; and

2. 24 semester hours of business courses, no more than six semester hours of which could be considered accounting courses.

No more than three semester hours of introductory or foundational accounting courses can be considered in determining whether a person has obtained the 48 minimum number of semester hours required for an accounting concentration or equivalent. A person who has passed the CPA examination in a state other than Virginia and who has met the educational requirements of that state will be deemed to have obtained an accounting concentration or equivalent if the educational requirements of that state are substantially equivalent as defined in § 54.1-4411 of the Code of Virginia to those prescribed in subsections A and B of this section.

18VAC5-22-100. Experience.

Prior to applying for a license, a person must have been employed in academia, a firm, government, or an industry in any capacity involving the substantial use of accounting, financial, tax, or other skills that are relevant, as determined by the board, to providing services to the public or to or on behalf of an employer for a period that is the full-time equivalent of one year or two years, depending on the person's highest level of education attained, pursuant to § 54.1-4409.2 A of the Code of Virginia. Whether other skills are relevant shall be determined by the board on a case-by-case basis. Self-employment does not meet the definition of experience in § 54.1-4400 of the Code of Virginia.

18VAC5-22-110. Demonstrating that a person's education, CPA examination, and experience are substantially equivalent to the requirements for obtaining a Virginia license. (Repealed.)

Subdivision A 2 of § 54.1-4411 of the Code of Virginia does not require the person to notify the board that the person's education, CPA examination, and experience are substantially equivalent to the requirements for obtaining a Virginia license.

18VAC5-22-120. Supervision of firm personnel.

To comply with subdivision C 2 of § 54.1-4412.1 of the Code of Virginia, a person's work must be planned, supervised, and reviewed by a person who either (i) holds an active Virginia license or (ii) holds the active license of another state and complies with the substantial equivalency practice privilege provisions of § 54.1-4411 of the Code of Virginia.