Courses Meeting the VBOA's Regulation for Attest or Compilation Services

On Sept. 16, 2010, the Virginia Board of Accountancy (VBOA) issued the following Board Regulation: 18VAC5-22-140. Persons who release or authorize the release of reports.

To comply with subdivision D 4 of § 54.1-4412.1 of the Code of Virginia, a person who releases or authorizes the release of reports on attest services or compilation services provided for persons or entities located in Virginia shall annually obtain a minimum of eight hours of continuing professional education related to attest services or compilation services. The hours obtained to meet this requirement shall be considered in determining whether the person has complied with the requirements of 18VAC5-22-90.

The following definitions come from the Code of Virginia, § 54.1-4400.

"Attest services" is defined as "audit, review, or other attest services for which standards have been established by the Public Company Accounting Oversight Board, by the Auditing Standards Board or the Accounting and Review Services Committee of the American Institute of Certified Public Accountants, or by any successor standard-setting authorities."

"Compilation services" is defined as "compiling financial statements in accordance with standards established by the American Institute of Certified Public Accountants or by any successor standard-setting authorities."

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Based on the VSCPA's interpretation of the above regulation, the following VSCPA courses may meet the VBOA's requirement for attest and compilation services:

The Virginia Society of CPAs (VSCPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

For more information regarding refund, complaint, program cancellation or other policies, visit www.vscpa.com/CPEPolicies or call (800) 341-8189.