Virgin Islands CPA Requirements
Exam and License Requirements To Become a CPA
Want to learn all about the CPA Exam?
Are you looking to become a CPA in the Virgin Islands? With flexible requirements, the Virgin Islands has made it easy for candidates to become CPAs in the state. This guide will explore the state's CPA Exam requirements, application process, and license requirements.
Understanding Virgin Islands CPA Requirements
Virgin Islands candidates must pass the CPA Exam, obtain work experience, and pass the local CPA Exam to qualify for licensure. Besides these requirements, a social security number is required to apply for licensure. Below is a rundown of these requirements.
| Social Security Requirement | Yes |
| Age, Citizenship, and Residency Requirements |
|
| Good Moral Character | Yes |
| Education Requirements for Licensure | 150 semester hours (including B.A.) |
| Pass the Exam | Minimum of 75 in each section |
| Ethics Exam Requirements | VI Regulation (Local) Examination |
| Work Experience | 1 year of experience |
| International CPA Examination Program | Yes |
Educational Requirements
Completing the educational requirements is an essential prerequisite to sitting for the Virginia CPA Exam and qualifying for licensure. Candidates must complete at least 150 semester hours of college education, including a baccalaureate or higher degree with a concentration in accounting or equivalent from an accredited college or university accepted by the board. The educational requirements remain the same for the CPA Exam and licensure.
Work Experience Requirements
Obtaining experience helps professionals improve their skills and learn from their peers. Hence, Virgin Islands CPA requirements mandate its candidates to gain one year of full-time experience providing any service or advice involving accounting, compilation, attest, financial advisory, management advisory, tax, or consulting skills.
The experience can be gained in public accounting, academia, and industry/private practice. However, it should be under the direct supervision of an active CPA in good standing with the board.
Ethical Exam Requirements
The Virgin Islands doesn't require an ethics exam for its candidates and instead has a VI Regulation (Local) Examination in addition to the four-part CPA Exam.
Virgin Islands CPA Exam & Licensing - Cost and Fees
The Virgin Islands has the highest application fee and exam section fee combined for the CPA Exam. The initial application fee (non-refundable) is $150, and $360 for each exam section applied. Additionally, candidates must take the VI Regulation (Local) Exam by paying a fee of $200.
| Virgin Islands CPA Exam Fees | |
|---|---|
| Initial Application Fee | $150 |
| Exam Section Fees | $1,440 |
| VI Regulation (Local) Exam | $200 |
| Total: | $1,790 |
*Pass the three core sections - AUD, FAR, and REG, and one discipline section - BAR/ISC/TCP
After passing the CPA Exam, gaining experience, and passing the VI Regulation (Local) Exam, you can proceed towards applying for the CPA license in the Virgin Islands. You can apply for the license by submitting an online application for a fee of $150. After determining the documents and your eligibility, the VI Board of Public Accountancy will issue a license for $390.
License Renewal Requirements
As per VI CPA requirements, all license holders must renew their licenses annually by June 30. The renewal window opens on May 1, and all active licenses expire on June 30. All renewal applications must be applied through an online application and pay a fee of $135, followed by a licensing fee of $390.
Continuing Education Requirements
Continuing Professional Education (CPE) is how the state board and AICPA ensure that CPAs implement best practices and comply with the laws. Hence, VI CPA license holders must obtain 120 CPE hours over a rolling three-year period. In this regard, candidates must complete 40 CPE hours each year and have four overall CPE hours of ethics preceding renewal.
Virgin Islands CPA Exam: Exam Dates, Score Release, and Scheduling
You can apply for the Uniform CPA Exam if you meet the requirements of the Virgin Islands. However, you must know a few things, such as exam and score release dates and the application process for the CPA Exam. We've provided a concise overview of the process and the dates to remember.
Exam Dates and Score Release
Virgin Islands CPA candidates can apply for the CPA Exam based on their preference. Ensure you check the target CPA Exam and score release dates on the AICPA website. Please note that continuous testing is no longer available for the CPA Exam to account for standard-setting analyses and activities.
Exam Section Scheduling
Below, we have mentioned the steps to apply for and schedule your CPA exam:
Virgin Islands CPA candidates can apply for the CPA Exam through the state board’s application, which is available on the website. Ensure you enter all the necessary information and have your educational transcripts directly submitted to the state board via your university/college. Pay an initial application fee of $150.
As a participant in the International CPA Examination Program, international candidates or those who’ve completed their education outside the United States can apply for the Virgin Islands CPA Exam.
The state board will receive your application and check your qualifications to determine your eligibility to sit for the CPA Exam in the Virgin Islands. If eligible, the board will send you an Authorization to Test (ATT), confirming your eligibility as a CPA candidate from VI.
Followed by ATT; candidates will receive a Notice to Schedule (NTS) from NASBA for each section applied and fees paid. It would be best to carry the NTS to the Prometric testing center.
You can schedule your CPA Exam using Prometric by entering the NTS number provided by NASBA. The portal will display all the available dates and locations for your jurisdiction, and you may schedule your exam accordingly.
Passing the CPA Exam is mandatory to qualify for the CPA licensure. Hence, you must pass all the sections with a score of 75 or higher within 18 months.
