The Virginia Board of Accountancy is pleased to present the biennial report for fiscal years 2023 and 2024, overviewing our work regulating the certified public accountant (CPA) profession.

The last two years brought with them a modified CPA Exam and opened up conversations nationally around how to break down barriers to the profession. Virginia has had a front row seat in those conversations thanks to various board members, past and present, serving in crucial leadership roles. Find out more about the board, its role (pages 3-4) and member appointments on page 13.

The work of the board has matched the pace of change nationally. You can read about a number of initiatives the board passed to help ease the transition to a new exam and make the pathway to CPA fairer on page 12.

The core mission of the VBOA is to protect the citizens of the commonwealth through a regulatory program of licensure and compliance of CPAs and CPA firms. Fourteen dedicated staff members support our board members, exam candidates, license applicants, the public, CPA firms and our almost 30,000 individual CPAs. See the details of our programming beginning on page 5.

In the past two years the board’s strategic goals have included reviewing CPE guidelines, updating and clarifying the Code of Virginia, securing a new licensing system, updating accreditation and exam education requirements, improving the CPA pipeline, evaluating the 150-hour requirement for licensure and reviewing the VBOA’s policies and guidance documents. You can see the major changes the board approved on page 12.

CPAs, CPA exam candidates, and consumers all benefit from the commitment of our board members. The board is empowered by the Code of Virginia to ensure that persons entering the profession are competent and those holding the CPA credential maintain high standards of personal conduct and competency and are held publicly accountable for their actions.

Our enforcement division is an important component of protecting the public. The work of the enforcement team on accountability is reported on pages 8 and 9. As we reflect over the last two fiscal years in this report, we hope you will find that while things may be moving quickly, it’s been a time of great progress for the commonwealth’s CPA profession.

Nancy Glynn, CPA
Executive Director