Are you looking to become a Certified Public Accountant (CPA) in the U.S. Virgin Islands? With flexible requirements, the Virgin Islands have made it easy for candidates to become CPAs. This guide will explore state-based CPA Exam requirements, the application process, and license requirements.
Understanding Virgin Islands CPA Requirements
U.S. Virgin Islands candidates must pass the CPA Exam, obtain work experience, and pass the local CPA Exam to qualify for licensure. In addition to these requirements, a social security number is also required to apply for licensure. Below is a rundown of these requirements.
| Social Security Requirement | Yes |
| Age, Citizenship, and Residency Requirements |
|
| Good Moral Character Requirement | Yes |
| Education Requirements for Licensure | 150 semester hours (including bachelor’s degree) |
| Exam Pass Requirement | 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 a crucial prerequisite for taking the U.S. Virgin Islands CPA Exam and qualifying for licensure. Candidates must complete at least 150 semester hours of college education, including a bachelor’s 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 enables professionals to enhance their skills and learn from their peers. Hence, U.S. Virgin Islands CPA requirements mandate that candidates gain 1 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 U.S. Virgin Islands doesn’t require an ethics exam for its candidates and instead has a VI Regulation (Local) Examination in addition to the 4-part CPA Exam.
Virgin Islands CPA Exam & Licensing – Cost and Fees
The U.S. 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 an additional $360 is required for each exam section applied. Additionally, candidates must take the VI Regulation (Local) Exam, which requires a fee of $200.
| U.S. Virgin Islands CPA Exam Fees | |
|---|---|
| Initial Application Fee | $150 |
| Exam Section Fees | $1,440 |
| VI Regulation (Local) Exam | $200 |
| Total: | $1,790 |
Pass the 3 core sections — AUD, FAR, and REG, and 1 discipline section — BAR/ISC/TCP
After passing the CPA Exam, gaining experience, and passing the VI Regulation (Local) Exam, you can proceed toward applying for the CPA license in the U.S. 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 submitted 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 a mechanism by which the state board and the AICPA ensure that CPAs implement best practices and comply with applicable laws. Hence, VI CPA license holders must obtain 120 CPE hours over a rolling 3-year period. Candidates must complete 40 CPE hours annually and have a minimum of 4 overall CPE hours in ethics before 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 U.S. Virgin Islands. However, you should be aware of a few key details, including exam and score release dates, as well as the application process for the CPA Exam. We’ve provided a concise overview of the process, including key dates to remember.
Exam Dates and Score Release
U.S. 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.
Scheduling the CPA Examination
Each jurisdiction has a slightly different application process. Here’s a quick guide to applying for and scheduling the U.S. Virgin Islands CPA Exam.
U.S. Virgin Islands CPA candidates can apply for the CPA Exam through the government 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 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 U.S. 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 U.S. Virgin Islands. If eligible, the board will send you an Authorization to Test (ATT), confirming your eligibility as a CPA candidate from VI.
Following this, candidates will receive a Notice to Schedule (NTS) from the National Association of State Boards of Accountancy (NASBA) for each section applied to, along with the corresponding 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 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.
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