MARYLAND .us



STATE OF MARYLAND

BOARD OF PUBLIC ACCOUNTANCY

MINUTES

DATE: December 1, 2009

LOCATION: 500 North Calvert Street

Baltimore, Maryland 21202

Third Floor Conference Room

MEMBERS

IN ATTENDANCE: Tim Murphy

Raymond C. Speciale

H. Terry Hancock

Muhammad A. Khan

ABSENT: Thomas Chambers

Ella Pierce

Marjorie Root

DLLR OFFICIALS/STAFF: Dennis L. Gring, Executive Director

Linda L. Rhew, Administrative Officer

Matthew Lawrence, Counsel

Norbert Fenwick, CPE Consultant

OTHERS PRESENT: Mary Beth Halpern, MACPA

Shirley Buchanan, MSA

Bobby Buchanan, MSA

The December 1, 2009 meeting of the Maryland Board of Public Accountancy was called to order by Acting Chairman Terry Hancock at 9:15 AM.

Upon a motion (I) by Mr. Murphy, and seconded by Mr. Speciale, the minutes of the November 3, 2009 meeting were approved, with corrections, unanimously.

Chairman’s Report

Acting Chairman Hancock inquired as to the status of Chairman Chambers. Mr. Gring reported that Mr. Chambers will not be attending the January Board meeting and that the naming of a replacement for Mr. Chambers, whose term has expired, is underway. It is unknown whether this will be completed before the February meeting or whether Mr. Chambers will attend the February meeting.

Executive Director’s Report

Mr. Gring reported that CPA Examination scores from the October/November administration window are now being reported to the Board. To date, 33 Maryland candidates have passed all four parts of the Examination.

A question was asked of Mr. Gring as to the status of the corrections that need to be made to the Board’s website regarding CPE and Peer Review. Mr. Gring indicated that it will be addressed immediately.

CPA Board Minutes

December 1, 2009

Page 2

Education Report

Mr. Speciale reported one (1) regular reciprocal application approval and five (5) Transfer of Grades approvals during the period November 3, 2009 through December 1, 2009. One transfer of grades application was denied.

File TGD-1209-01 was denied for lacking three (3) semester hours in ethics.

File RD-1209-01 was denied for lacking three (3) semester hours in ethics; and three (3), three- semester hour courses in Group II Business related courses, one three-semester credit hour course must be in one of the following specific courses: corporate/business finance, management, marketing, business communications, or quantitative methods.

File RD1209-02 was denied for lacking three (3) semester hours in ethics; and fifty-four (54) of the 150 semester hours required for licensure.

Upon a motion (II) by Mr. Murphy, and seconded by Mr. Khan, the Board unanimously approved the Education Report.

Experience Committee Report

Mr. Khan presented the Experience Committee Report. Twenty-six (26) Maryland applicants and nine (9) reciprocal (4 in 10) applicants were approved during the period November 3, 2009 and December 1, 2009.

Upon a motion (III) by Mr. Speciale, and seconded by Mr. Murphy, the Experience Committee Report was unanimously approved.

Old Business

Mr. Gring reviewed the Project Task List. There was no change in the current status of existing tasks. However, the development of an audit procedure to evaluate licensee/firm compliance with the peer review reporting requirement will be added as a 2010 project.

New Business

Upon a motion (IV) by Mr. Speciale, and seconded by Mr. Murphy, the Board unanimously approved the proposed regulation amendments to COMAR 09.24.02.02, which would require a Maryland candidate who passed the Uniform CPA Examination more than four years prior to applying to the Board for a license to complete 80 hours of continuing education as a condition of licensure.

Upon a motion (V) by Mr. Murphy, and seconded by Mr. Speciale, the Board granted the request of Samuel Finkelstein, on behalf of Finkelstein & Associates, PA, Certified Public Accountants an extension to complete the peer review requirement to March 31, 2010. The Board noted, however, that Finkelstein & Associates, PA, Certified Public Accountants does not hold a firm permit. A cease and desist letter was recommended to be sent to this firm advising that a permit application be filed with the Board immediately. In addition, this matter was referred to the Complaint Committee for evaluation.

The Board considered the matter of Dr. Robert F. Dombrowski, CPA, an accounting professor at Franklin P. Perdue School of Business at Salisbury University. Professor

Dombrowski, who specializes in auditing, directs and supervises a three (3) credit hour co-

CPA Board Minutes

December 1, 2009

Page 3

requisite Internship for graduate and undergraduate students which involve audits of non-profit community organizations. Professor Dombrowski requests an extension to meet the peer review requirement.

Upon a motion (VI) by Mr. Murphy, and seconded by Mr. Speciale, the Board granted an extension to April 30, 2010. In addition to granting the extension, Professor Dombrowski is to be advised that he should not issue another audit report until the peer review is completed.

Correspondence

Mr. Harry G. Valentino, a licensee whose continuing education file was audited for the period 2003-2005, requested a meeting with the Executive Director or the Board to discuss the reason that he can not comply with the Board’s request for documentation of the CPE hours that he claimed. The Board sent Mr. Valentino a letter explaining that the sponsors of the CPE courses that he took during that period could assist him in reconstructing his documentation. Mr. Valentino responded that he does not have a master list of the courses that he took and can’t determine the sponsors to contact. The Board maintained its position that Mr. Valentino must provide documentation of the CPE he claimed or take CPE courses now to compensate for the deficit.

Executive Session

The Board, upon a motion (VII) by Mr. Speciale, and seconded by Mr. Murphy, went into Executive Session at 10:22 AM in the 3rd Floor Conference Room, 500 N. Calvert Street, Baltimore, Maryland 21202. The purpose of this session was to consult with counsel. This session is permitted to be closed pursuant to State Government Title Section 10-508(a), (7). Upon completion of the session, the Board resumed its public meeting at 10:33 AM, upon a motion (VIII) by Mr. Murphy, and seconded by Mr. Speciale.

Complaint Committee Report

Mr. Murphy reported the Board received two (2) complaints during the period November 3, 2009 through November 30, 2009. Three (3) complaints were closed: CPAS 07-0017, CPAS 10-0016, and CPAS 10-0022.

Upon a motion (VIII) by Mr. Speciale, and seconded by Mr. Khan, the Board approved the Complaint Committee Report.

Upon a motion (IX) by Mr. Speciale, and seconded by Mr. Khan, the Board approved file EX A-1209, an applicant who answered “Yes” to a conduct questions.

Upon a motion (X) by Speciale, and seconded by Mr. Khan, the Board adjourned the meeting at 10:35 AM.

NEXT MEETING

Tuesday, January 5, 2010, 500 North Calvert Street, Third Floor, 9:00 AM

__ ___ With corrections ______ Without corrections

_______________________________________ ____________________ Chairman Date

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