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VSCPA Executive Committee Comments on Elimination of Grace Period for Virginia License Renewals

September 30, 2018

Aug. 15, 2016

James M. Holland, CPA
Chair, Virginia Board of Accountancy
9960 Mayland Drive, Suite 402 
Richmond, VA 23233

Dear Mr. Holland:

On behalf of the 12,000 members of the Virginia Society of CPAs (VSCPA), the VSCPA Executive Committee would like to thank the Virginia Board of Accountancy (VBOA) for requesting our feedback on elimination of the 12-month grace period for license renewals.

The Committee discussed this proposal at length during its June 20, 2016, meeting. While we agree that a 12-month grace period may be excessive, many state boards of accountancy offer some form of grace period for renewal. Additionally, the Committee felt that it would only be appropriate to eliminate the grace period entirely if done in conjunction with shifting to a single renewal date for all licensees. Therefore, the Committee voted unanimously to recommend to the VBOA that the grace period for license renewals not be eliminated until the expiration date is uniform for all CPAs. Until that time, the Committee supports shortening the grace period to 60 days.

We sincerely thank you for the opportunity to comment on this issue of importance to Virginia’s CPAs, and we appreciate your consideration of our concerns. If you have questions or would like to discuss any of these comments further, please contact me or VSCPA Vice President of Advocacy Emily Walker at (804) 612-9428 or [email protected].

Sincerely,

Stephanie Peters, CAE
President & CEO
Virginia Society of CPAs

 

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