August 16, 2021
Laurie Warwick, CPA
Virginia Board of Accountancy
9960 Mayland Drive, Ste. 402
Richmond, VA 23233
RE: CPA Evolution
Dear Ms. Warwick:
On behalf of the more than 13,000 members of the Virginia Society of CPAs (VSCPA), the VSCPA has reviewed the changes to Rule 5-1 of the Uniform Accountancy Act (UAA) Model Rules as adopted by the National Association of State Boards of Accountancy and the American Institute of CPAs (AICPA). We have also reviewed the Virginia Board of Accountancy’s (VBOA) written comments in response to the changes to Rule 5-1. Our review focused on the impact of both the rule changes and the VBOA’s response with respect to CPA Evolution and the potential impact to CPA candidates from Virginia schools.
Recognizing the UAA Model Rules are intended to serve as model, and are in no way required to be adopted, our review focused on ensuring Virginia’s statutes and regulations continue to align sufficiently with the UAA to allow accounting students from Virginia schools to meet the educational requirements to become licensed CPAs in most, if not all, U.S. accounting jurisdictions. Overall, we believe the VBOA’s response to the changes to Rule 5-1 will allow Virginia students that continued mobility. There are two areas we recommend the VBOA conduct some additional research and analysis prior to making a final decision regarding whether changes will be needed.
Determine whether other U.S. accounting jurisdictions intend to add a requirement for a standalone course in ethics v. allowing ethics content to be integrated across other required coursework as recommended by the VBOA.
Ensure content in data analytics is sufficiently emphasized as a requirement.
As CPA Evolution continues to move forward, we strongly encourage the VBOA to view its statutes and regulations through the lens of ensuring continued consistency with the UAA so as not to disadvantage Virginia accounting students seeking licensure in other jurisdictions. We sincerely thank you for the opportunity to comment, and we appreciate your consideration of our input throughout this process. Please feel free to contact me or VSCPA Vice President, Advocacy Emily Walker, CAE, at (804) 612-9428 or [email protected] if we can be of further assistance.
Stephanie R. Peters, CAE
President & CEO
Virginia Society of CPAs
CC: Secretary of Finance Joe Flores