Beginning on Feb. 1, 2021, the new format will allow CPAs to take a variety of different courses and topics to meet the CPE ethics requirement, as long as it is taken from a VBOA-approved provider.
The two-hour annual CPE requirement will remain the same. All licensees (excluding those approved for the Inactive status) will still be required to complete a VBOA-approved ethics course that complies with VBOA regulation 18VAC5-22-90.
However, CPAs will have a choice of the ethics course they can take to meet the two-hour ethics course CPE requirement. CPAs can take an ethics course that is specific to their line of work or something they prefer.
Every ethics course must be pre-approved by the VBOA and include the 2021 VBOA Segment. The 2021 VBOA Segment is a 10-minute video that must be added to all approved ethics courses.
The VBOA will continue to approve all providers and courses ahead of time and it will be the CPAs responsibility to choose an ethics course from a VBOA-approved provider. Providers must submit their ethics course with the VBOA Segment for approval by submitting their course and approval request to the VBOA. Only approved courses will meet the 2021 Virginia ethics requirement.
This new format will allow you and other providers to create a course of your choosing. However, the backbone of the course must be focused on ethics but can be told and presented in a variety of ways on a variety of topics.
Some examples of course topics may include, but are not limited to:
- Professional conduct and ethics
- Ethics in the real world
- Ethics in tax practice
- Behavioral ethics
- Governmental ethics
- Ethics of industry professionals/CPAs
Currently, there is only one Virginia-Specific Ethics Course offered each year and all Active Virginia CPAs are required to take the same course.