Licenses

V.S.A. tit. 26, ch. 1, subch. 3

in effect

26 V.S.A. § 71a License by examination

71a. License by examination (a) To qualify for licensure as a certified public accountant, an applicant must: (1) complete any one of the following requirements for education and experience: (A) a postbaccalaureate degree from a college or university recognized by the Board with a concentration in accounting or an equivalent and one year of experience in public accounting, meeting the requirements prescribed by Board rule; (B) 150 or more semester hours of college credit at a college or university recognized by the Board, including a baccalaureate degree and a minimum of 42 semester hours of accounting, auditing, and related subjects as the Board determines to be appropriate, and one year of experience in public accounting, meeting the requirements prescribed by Board rule; or (C) a baccalaureate degree from a college or university recognized by the Board with a concentration in accounting or an equivalent and two years of experience in public accounting, meeting the requirements prescribed by Board rule; and (2) pass the examination required under subsection (b) of this section. (b) The Board shall administer an examination using a nationally recognized uniform certified public accountants’ examination and advisory grading service. (c) An applicant who has not yet completed a baccalaureate degree may sit for the exam upon the completion of 120 semester hours at an institution recognized by the Board, including a minimum of 30 semester hours of accounting, auditing, and related subjects as the Board determines to be appropriate. Added 1997, No. 145 (Adj. Sess.), § 7; amended 2001, No. 129 (Adj. Sess.), § 9; eff. June 13, 2002; 2007, No. 29, § 10; 2007, No. 163 (Adj. Sess.), § 6; 2009, No. 35, § 8; 2009, No. 35, § 41(b), eff. July 1, 2014; 2025, No. 119 (Adj. Sess.), § 9, eff. June 8, 2026.

26 V.S.A. § 72a General licensing provisions

72a. General licensing provisions (a) If a licensee has a principal place of business for the practice of public accounting, the license shall be prominently displayed at that place. (b) Licensing standards adopted and used by the Board, and its procedures, shall be fair and reasonable and shall be designed and implemented to measure and reasonably ensure an applicant’s qualifications to practice public accounting. They shall not be designed or implemented for the purpose of limiting the number of licensees. (c) [Repealed.] Added 1981, No. 161 (Adj. Sess.), § 2; amended 1991, No. 167 (Adj. Sess.), § 9; 1997, No. 40, § 15; 2001, No. 129 (Adj. Sess.), § 11; eff. June 13, 2002; 2007, No. 29, § 11; 2009, No. 35, § 41(a).

26 V.S.A. § 72b Licensure by endorsement

72b. Licensure by endorsement Without requiring an examination, the Board shall issue an appropriate license to a public accountant who is licensed or certified under the laws of another state: (1) with education, examination, and experience requirements that the Board considers to be substantially equal to those of this State; or (2)(A) upon a showing that the applicant has had five years of experience in the practice of public accountancy or meets equivalent requirements prescribed by the Board by rule within the 10 years immediately preceding the application; and (B) has fulfilled the requirements of continuing education or continuing professional competence programs that would have been applicable under subsection 75(b) of this title. Added 2007, No. 29, § 12.

26 V.S.A. § 73 Corporations practicing public accounting

73. Corporations practicing public accounting A corporation, limited liability company, partnership, or other business organization engaged in the practice of public accounting may be disciplined by the Board for the unprofessional conduct of its officers, directors, managers, members, partners, shareholders, and employees. Disciplinary action against a corporation, limited liability company, partnership, or other business organization may include recommending to the Secretary of State that involuntary dissolution proceedings be begun. Added 1975, No. 89, § 13; amended 1981, No. 161 (Adj. Sess.), § 2; 1997, No. 40, § 10; 1999, No. 133 (Adj. Sess.), § 3.

26 V.S.A. § 74 Firms; registration and ownership

74. Firms; registration and ownership (a) A firm shall be required to obtain registration pursuant to this section if the firm: (1) has an office established or maintained in this State for the practice of public accounting; (2) has an office established or maintained in this State that uses the title “CPA” or “CPA firm”; or (3) does not have an office in this State but performs services described in subdivision 13(1)(A)(i), (iii), or (iv) of this chapter for a client with a home office in this State. (b) A firm that does not have an office in this State may perform those services set forth in subdivision 13(1)(A)(ii), 13(1)(A)(v), or 13(3) of this chapter for a client with a home office in this State, may otherwise practice public accounting as authorized under this chapter, and may use the title “CPA” or “CPA firm” without a registration issued only if the firm: (1) meets the qualifications set forth in subsections (c) and (d) of this section; (2) meets the requirements of subsection 75(c) of this chapter, as applicable; and (3) performs services through an individual with practice privileges set forth under section 74c of this chapter. (c) An applicant for initial registration or renewal under this section shall be required to show that, notwithstanding any other provision of law, a simple majority of the ownership of the firm, in terms of equity, creditor and voting rights of all partners, officers, members, shareholders, or managers, belongs to holders of a certificate who are licensed in some state, and such partners, officers, members, shareholders, or managers, whose principal place of business is in this State, and who perform professional services in this State, hold a valid license issued under this chapter. Although firms may include nonlicensee owners, the firm and its ownership must comply with the rules adopted by the Board. (d) Any CPA or RPA firm as defined in this chapter may include nonlicensee owners, provided that: (1) The firm designates a licensee of this State or, in the case of a firm that is required to have a registration pursuant to subsection (a) of this section, a licensee who meets the requirements set forth in section 74c of this chapter who is responsible for the proper registration of the firm, and identifies that individual to the Board. (2) All nonlicensee owners are active individual participants in the CPA or RPA firm or affiliated entities. (3) The firm complies with other requirements as the Board may impose by rule. (e) Any individual licensee who is responsible for supervising attest services and signs or authorizes someone to sign the accountant’s report on behalf of the firm shall meet the experience and competency requirements set out in the professional standards for such services. (f) Any individual exercising practice privileges pursuant to section 74c of this chapter, and who is responsible for supervising attest services and signs or authorizes someone to sign the accountant’s report on behalf of the firm, shall meet the experience and competency requirements set forth in the professional standards for those services. (g) Each office in this State shall be under the supervision of a public accountant who is licensed in this State. Added 1975, No. 89, § 13; amended 1981, No. 161 (Adj. Sess.), § 2; 1991, No. 167 (Adj. Sess.), § 10; 1997, No. 59, § 48, eff. June 30, 1997; 1999, No. 133 (Adj. Sess.), § 4; 2001, No. 129 (Adj. Sess.), § 12; eff. June 13, 2002; 2007, No. 29, § 13; 2009, No. 35, § 9; 2017, No. 48, § 9; 2019, No. 178 (Adj. Sess.), § 5, eff. Oct. 1, 2020.

26 V.S.A. § 74c Mobility

74c. Mobility (a) An individual whose principal place of business is not in this State shall have the privileges of licensure of this State, without the need to obtain a license under section 72b of this title, if the individual: (1) holds a valid license as a certified public accountant from any state; and (2) has passed the uniform CPA examination and has met any one of the following requirements for education and experience in accordance with rules adopted by the Board: (A) a postbaccalaureate degree from a college or university with a concentration in accounting or an equivalent and one year of experience in public accounting; (B) 150 or more semester hours of college credit at a college or university, including a baccalaureate degree and a minimum of 42 semester hours of accounting, auditing, and related subjects, and one year of experience in public accounting; or (C) a baccalaureate degree from a college or university with a concentration in accounting or an equivalent and two years of experience in public accounting. (b) An individual licensee of another state exercising the privileges afforded under this section and the firm that employs that licensee, as a condition of the exercise of this privilege, shall consent to the following: (1) personal and subject matter jurisdiction and the disciplinary authority of the Board; (2) compliance with this chapter and the Board’s administrative rules and any other laws governing the practice of the profession in this State under the jurisdiction of the Board; (3) cease offering or rendering professional services in this State individually and on behalf of a firm in the event the license issued by the state of the licensee’s principal place of business is no longer valid or is otherwise conditioned or restricted; (4) the appointment of the state board or licensing authority, which issued its license, as the agent upon whom process may be served in any action or proceeding by the Board against the licensee; and (5) perform only those services within the scope of practice authorized by the state of the licensee’s principal place of business. (c) An individual practicing pursuant to this section and who performs services in this State, or an individual practicing pursuant to this section and who performs services for an entity with its home office in this State, may only provide the following services through a firm registered under section 74 of this title: (1) a financial statement audit or other engagement to be performed in accordance with the Statements on Auditing Standards; (2) an examination of prospective financial information to be performed in accordance with the Statements on Standards for Attestation Engagements; (3) an engagement to be performed in accordance with PCAOB Auditing Standards. (d) An individual who qualifies for practice privileges under this section and who performs services for which a firm registration is required shall not be required to obtain a license from this State. (e) A licensee of this State offering or rendering services or using its title in another jurisdiction shall be subject to disciplinary action in this State for acts of unprofessional conduct committed in another jurisdiction that would otherwise subject the licensee to discipline in this State. The Board has the authority to investigate complaints made by persons of another state. (f) Notwithstanding any provision of law to the contrary, an individual who performs professional services pursuant to this section shall not be assessed a fee or be required to provide notice to the Board. (g) An individual whose principal place of business is not in this State, who holds a valid active license as a certified public accountant from any state, and who, as of December 31, 2024, had practice privileges in this State under this section shall continue to have all the privileges of licensees in this State without the need to obtain a license under section 71a of this title, pursuant to all other requirements of this chapter. Added 2009, No. 35, § 11; amended 2025, No. 119 (Adj. Sess.), § 10, eff. June 8, 2026.

26 V.S.A. § 75 Renewal

75. Renewal (a) Public accountant licenses and firm registrations under this chapter shall be renewed every two years on payment of the required fee. (b) As a condition of renewal of a license as a public accountant, the Board may require that the licensee establish that he or she has satisfied continuing education requirements established by Board rule. (c) The Board may by rule require, on either a uniform or a random basis, as a condition to renewal of firm registrations under section 74 of this title, that applicants undergo peer reviews conducted no more frequently than once every three years in such manner and producing such satisfactory result as the Board may specify, provided, however, that any such requirement: (1) shall be adopted reasonably in advance of the time when it is first required to be met; and (2) shall include a reasonable provision for compliance by an applicant’s showing that the applicant has undergone a satisfactory peer review performed for other purposes that was substantially equivalent to peer reviews generally required pursuant to this section, and completion of such review was within the three years immediately preceding the renewal period. (d) Information submitted for peer reviews is exempt from public disclosure under 1 V.S.A. § 317(c)(3) and (6). (e) If a licensee fails to renew within 10 years of the license lapsing, the licensee must file a new application for licensure and satisfy the initial licensure requirements of the Board in order to obtain a license. Added 1975, No. 89, § 13; amended 1981, No. 161 (Adj. Sess.), § 2; 1991, No. 167 (Adj. Sess.), § 13; 1997, No. 59, § 49, eff. June 30, 1997; 1999, No. 133 (Adj. Sess.), § 5; 2001, No. 129 (Adj. Sess.), § 15; eff. June 13, 2002.

26 V.S.A. § 75a Agent for process

75a. Agent for process An application under this chapter for a license or registration by a person who is not a resident of this State shall constitute the appointment of the Secretary of State as an agent for service of process in any action or proceeding arising out of any transaction, activity, or operation in this State by the applicant concerning the practice of public accounting. Added 1981, No. 161 (Adj. Sess.), § 2.

Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/chapter/26/001Fetched: 10/21/2026