150-Hour Requirement: What You Need to Know

On June 18, 2008, the Virginia Board of Accountancy (BOA) announced that, effective immediately, candidates are no longer required to obtain 150 semester hours in order to apply to sit for the CPA Exam. Instead, individuals may apply to sit for the CPA Exam with a baccalaureate degree or its accepted equivalent, as long as the following courses have been completed at the undergraduate or graduate level at the time the application is received:

• At least 24 semester hours of accounting courses, including courses covering the subjects of financial accounting, auditing, taxation and management accounting
• At least 18 semester hours in business courses, in addition to the courses mentioned above

Exam application requirements were originally raised from 120 to 150 semester hours in 1999, when Virginia adopted the Uniform Accountancy Act (UAA). As a result, individuals were required to complete 150 hours of education before sitting for the CPA Exam in Virginia as of July 1, 2006. 

The BOA voted to rescind the deadline of December 31, 2008, for those individuals who qualified under the education requirement prior to July 1, 2006.

While the BOA’s recent decision no longer requires candidates to obtain 150 hours prior to sitting for the CPA Exam, individuals applying for a CPA license in Virginia must still provide documentation that they have obtained from one or more accredited institutions at least 150 semester hours of education, a baccalaureate or higher degree and an accounting concentration or equivalent.

Therefore, candidates who sit for the CPA Exam with fewer than 150 semester hours will still have to obtain the full 150 credits before obtaining their licenses.

If you have any questions, please contact the BOA directly at (804) 367-8505. Or feel free to contact VSCPA Technical Services Manager Emily Walker at (800) 733-8272.