The American Institute of CPAs (AICPA) congratulates the U.S. Virgin Islands Society of CPAs (VISCPA) and the Virgin Islands Board of Public Accountancy on passing individual CPA mobility legislation as part of a major update to the jurisdiction’s accountancy statute.
The U.S. Virgin Islands (USVI) law was signed by Governor John P. de Jongh, Jr. on May 16, after unanimously passing the Senate (the USVI has a unicameral legislature). With the signing, 51 states and jurisdictions now have individual mobility laws allowing out-of-state CPAs to operate in their jurisdictions without having to obtain a reciprocal license or register in the state.
The USVI’s new mobility law will go into effect May 16, 2015.
The enacted legislation makes other significant changes to USVI’s accounting statute to more closely mirror the Uniform Accountancy Act, the model licensing law developed to provide a uniform approach to regulation of the accounting profession. The legislation updates the definition of attest, eliminates the need for work experience to sit for the CPA Exam, and implements a 150 credit hour requirement for licensure making the jurisdiction substantially equivalent to the rest of the United States.
The AICPA, state CPA societies, the National Association of State Boards of Accountancy, individual boards of accountancy, and individual CPAs and their firms have been working collaboratively since 2007 to update state and jurisdictional licensing laws across the country to create a uniform mobility system.
For more information about CPA mobility, visit the AICPA’s CPA mobility resources website page.