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Requirements for Certified Public Accountant Licensure and Exam

 

Purpose of Licensure:
To set standards of qualifications, education, training, and experience for persons engaged in Public Accounting. To promote high standards of professional performance for those persons working in Public Accountancy.

Period of Licensure:
All permanent licenses are issued on an annual basis.

Permit Cards:
Permit cards are issued from July I to June 30 of each calendar year.

APPLICATION PROCESS
General Qualifications: A CPA certificate shall be issued to any person who is a citizen, or who has duly declared his/her intention of becoming a citizen, of the United States; is a resident of, or employed in, or has a place of business in, the U.S. Virgin Islands; has attained the age of twenty-one (21) years; is of good moral character; meets the specified educational and experience requirements; and passes the Uniform CPA Examination.

Initial Application Requires:
Applicant must be a resident of the U.S. Virgin Islands for at least thirty (30) days immediately prior to submittal of application: You will need to submit the following:

  • A copy and notarized application;
  • Three (3) 2x2 photographs of applicant;
    • REFERENCES
    (Please list and submit letters for five (5) references, two (2) of which must be residents of the Virgin Islands and three (3) of which must be practicing Certified Public Accountants. At least (1) practicing CPA must be licensed in the Virgin Islands. Please submit copies of current registrations for each practicing CPA used as a reference).
  • certified copy of applicant's college transcript;
  • NCIC Criminal Background Check;
  • A certified copy of applicant's CPA current registration from another state (if applying by reciprocity); and,
  • Applicant must meet the specified educational and experience requirements.
Period of Licensure:
  • A completed renewal application;
  • A Tax Clearance Approval from the V.I. Bureau of Internal Revenue.
  • Payment of required License fee:
    • Certified Public Accountant $390.00
    • CPA Permit $25.00 (Annually June 30th)

Examination:
All candidates are required to sit an examination. The examination is comprised of the Uniform CPA Examination and a Local CPA Examination.
CPAs seeking licensure by reciprocity must sit the local CPA Examination.

Educational and Experience Requirements:
The minimum educational requirement for the CPA certificate is a diploma from a four (4) year high school.
Candidates who hold degrees from recognized colleges or universities are required to have three (3) years of experience, immediately preceding application in public accounting or in governmental accounting as an auditor or internal revenue agent.

Candidates who hold degrees from recognized colleges or universities and who have completed thirty (30) or more semester hours of study in accounting, business law, economics, and finance (of which a minimum of twenty (20) semester hours are in accounting) must have two (2) years of experience, immediately preceding application, in public accounting or governmental accounting as an auditor or internal revenue agent.

Reciprocity:
A person holding a valid license or certificate issued by a state or territory of the United States or by a foreign country may upon application be registered in the Virgin Islands. The foreign country must have a national registration board of scope and standing corresponding to the National Association of State Boards of Accountancy.

Required Fees

 Initial Application Fee $150.00
 Local CPA Examination Fee $100.00
 Deposit for NCIC Check $125.00
 License Fee $390.00
 CPA Permit $25.00

Uniform CPA Examination Fees:

 Auditing and Attestation $230.55
 Financial Accounting & Reporting $218.55
 Regulation $193.35
 Business Environment & Concepts $150.78

Mailing Address
Attention: Nathalie Hodge
Administrator, Boards and Commissions
V.I. Board of Certified Public Accountancy
Department of Licensing and Consumer Affairs
Golden Rock Shopping Center, Suite #9
Christiansted, VI 00820-4311