MARYLAND .us
MARYLAND
BOARD OF PUBLIC ACCOUNTANCY
MINUTES
DATE: March 6, 2007
LOCATION: 500 North Calvert Street
Baltimore, Maryland 21202
Third Floor Conference Room
MEMBERS
IN ATTENDANCE Leslie A. Mostow
Arnold Williams
Michele Pittman
Barbara Stewart, Ph.D.
H. Terry Hancock
OTHERS PRESENT: Dennis L. Gring, Executive Director
Matthew Lawrence, Counsel
Linda Rhew, Administrative Officer
Joseph D. Sliwka, Commissioner
Harry Loleas, Deputy Commissioner
Thomas Hood, MACPA
Shirley Buchanan, MSA
Mary Beth Halpern, MACPA
The March 6, 2007 meeting of the Maryland Board of Public Accountancy was called to order by Leslie Mostow, Chairman, at 9:15 AM. Mr. Mostow thanked Mr. Williams for chairing the January meeting due to his absence while recuperating from a motorcycle accident.
Upon a motion (I) by Mr. Williams, and seconded by Ms. Pittman, the minutes of the January 2, 2007 meeting were approved, unanimously, as amended.
CHAIRMAN’S REPORT
The Chairman reported that he has received a number of comments from members of the education community regarding the Board’s proposal to amend the education requirement to qualify for the Uniform CPA Examination. Specifically, the chairs of the accounting departments of many of the Universities/Colleges in Maryland are concerned that the Board’s proposed regulations eliminating specific accounting and business courses, including business ethics, would weaken the quality of the education that entrants into the profession would receive. The educators also asked for the Board to set up a task force of accounting educators from colleges and universities in Maryland work with and advise the Board on changes in accounting education regulations. He suggested that the Board may want to meet with the accounting educators and modify the proposed regulations to take into account the educators’ concerns.
Mr. Mostow advised the Board that he and Dr. Stewart would be attending the NASBA Education Joint Panel Meeting that is scheduled for April 30, 2007 at the Dallas-Ft. Worth International Airport. He said that he believes that this meeting will provide the Board with an
Maryland CPA Board Minutes
March 6, 2007
Page 2
insight as to whether there is a national consensus emerging on the framework of educational requirements for licensure as a CPA.
The Chairman announced that Mr. Williams has agreed to participate with him, Executive Director Gring, and Deputy Commissioner Harry Loleas to develop the FY2009 budget, the first budget under Board’s special fund authority. Mr. Loleas explained that the Board’s budget for FY2009 would be based upon meeting the Board’s direct and indirect costs as well as increasing the level of services that the Board believes necessary to meet its licensing and enforcement responsibilities under the law.
EXECUTIVE DIRECTORS REPORT
Mr. Gring reported that the Board is now receiving scores from CPA examination sections administered in January. The remainder of the examination scores for the January- February administration period should be received by the end of March.
Mr. Gring advised that he has received formal notification from NASBA that the fees for the Uniform CPA Examination will be increasing, effective August 17, 2007. He requested that the Board propose regulations at this meeting to establish the new fees. The new fee schedule is as follows:
Exam Section New Fee Current Fee +Change
Auditing and Attestation $ 231.00 $ 207.00 $ 24.00
Financial Accounting and Reporting $ 219.00 $ 195.00 $ 24.00
Regulation $ 193.00 $ 170.00 $ 23.00
Business Environment and Concepts $ 180.00 $ 158.00 $ 22.00
Mr. Gring also reported that the regulations to amend the Board’s education requirements to qualify for the Uniform CPA Examination have been forwarded to final legal review prior to submission to the Office of the Secretary. The AELR embargo on regulations, during the first half of the legislative session, has now expired. The proposed regulations are expected to be forwarded to the AELR Committee shortly after review by the Secretary.
CPA EXAMINATION CANDIDATE APPEALS
The Board heard the appeal of Harold Willy Ulat Veloso, whose CPA Examination application was denied because his transcripts documented that he had earned only135 semesters hours; and that he did not have 3 semester each in the following subject matter: corporate/business finance, written communication, oral communication and business. He was also lacking one semester hour in marketing and 2 semester hours in economics. The Board requested that he provide course descriptions/syllabi for all of the course in which he is deficient. Consideration of his appeal was tabled until the Board receives the additional information.
EDUCATION REPORT
Reciprocal/Transfer of Grades Applications
Dr. Stewart reported that six (6) reciprocal applications and four (4) transfer of grades applications were approved.
Denial – Reciprocal (Education)
Natalie Lentz – Candidate does not have 150 semester hours of collegiate education.
Maryland CPA Board Minutes
March 6, 2007
Page 3
Denial – Transfer of Grades
Souleymane Toure – Candidate lacked three semester hours in oral communication.
Upon a motion (II) by Ms. Pittman and seconded by Mr. Williams, the Education Report was unanimously approved.
EXPERIENCE COMMITTEE REPORT
Ms. Pittman presented the experience committee report. Forty one (41) Maryland applicants were approved. Forty-four (44) reciprocal (4 in10) applicant were approved. One four-in-ten applicant withdrew.
Upon a motion (III) by Dr. Stewart and seconded by Mr. Williams, the Experience Report was unanimously approved.
PEER REVIEW COMMITTEE
Due to the absence of Mr. Chambers, the Peer Review Committee was deferred until the next meeting.
EDUCATION REGULATION
The Board decided to proceed with publishing the modifications to the education regulations as voted on at the January meeting.
NEW BUSINESS
Upon a motion (IV) by Ms. Pittman and seconded by Mr. Hancock the Board unanimously approved proposing the following CPA Examination section fee schedule to become to become effective August 17, 2007:
Exam Section New Fee
Auditing and Attestation $ 231.00
Financial Accounting and Reporting $ 219.00
Regulation $ 193.00
Business Environment and Concepts $ 180.00
Chairman Mostow asked each member of the Board to review the NASBA/AICPA Exposure Draft - UAA, Section 23 - Licensee mobility between states for a thorough discussion at the April meeting.
ADMINISTRATIVE HEARING – BOARD
The Board adjourned the public meeting to conduct an administrative hearing in CPAS 070018, Board of Public Accountancy v. Wilkins Mc Nair.
The Board returned to public session at 11:10 am.
Maryland CPA Board Minutes
March 6, 2007
Page 4
CORRESPONDENCE
Upon a motion (V) by Dr. Stewart, seconded by Mr. Hancock, the Board unanimously voted to deny the request of Stephanie Saia to extend her Notice to Schedule.
Upon a motion (VI) by Ms. Pittman, seconded by Dr. Stewart, the Board unanimously voted to deny the request of Eric Chan to extend his Notice to Schedule.
Upon a motion (VII by Mr. Hancock, seconded by Dr. Stewart, the Board unanimously voted to deny the request of George P. Ndeakey to extend his Notice to Schedule.
EXECUTIVE SESSION
It was moved (VIII) by Mr. Williams, seconded by Mr. Hancock and unanimously carried, to go into Executive Session at 11:45 a.m. 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 12:10 pm
COMPLAINT COMMITTEE:
Mr. Gring presented the Complaint Committee report on behalf of Mr. Williams who had to leave the meeting.
|Complaints Received|4 |CPAS 070023, CPAS 070024, CPAS 070025, CPAS 070026 |
|Complaints Closed |9 |CPAS 050019, CPAS 050035, CPAS 050052, CPAS 070003, CPAS 070006, CPAS 070015, CPAS 070020, CPAS 070022, |
| | |AND CPAS 070026 |
The Complaint Committee submitted the following report for March:
|Complaints Received|3 |CPAS 070027, CPAS 070028, CPAS 070029 |
|Complaint Closed |19 |CPAS 010004, CPAS 010013, CPAS 020048, CPAS 030018, CPAS 030026 CPAS 030031, CPAS 030032, CPAS 030038, |
| | |CPAS 030039 CPAS 040019 CPAS 040027, CPAS 040036, CPAS 050022, CPAS 050023, CPAS 050024 CPAS 060006, |
| | |CPAS 060050, CPAS 070007, CPAS 070025, |
Upon a motion (IX) by Mr. Hancock, seconded by Ms. Pittman, the Board unanimously voted accept the Complaint Committee Report.
Upon a motion (X) by Dr. Stewart, seconded by Ms. Pittman, the Board unanimously voted to deny a examination candidates request to extend the expiration date of a Notice to Schedule. The Board based this decision on the fact that the candidate did not file the request in a timely manner.
Upon a motion (XI) Mr. Hancock, seconded by Dr. Stewart, the Board unanimously extended the conditional credit for a candidate due to medical reasons.
Maryland CPA Board Minutes
March 6, 2007
Page 5
Upon a motion (XII) Ms. Pittman, seconded by Dr. Stewart, the Board unanimously approved the license application of an applicant who affirmatively answered a conduct question.
Upon a motion (XIII) Mr. Hancock, seconded by Ms. Pittman, the Board unanimously approved the license application of an applicant who affirmatively answered a conduct question.
Upon a motion (XIV) Dr. Stewart, seconded by Ms. Pittman, the Board unanimously approved the license application of an applicant who affirmatively answered a conduct question.
ADJOURNMENT
There being no further business, the meeting adjourned at 12:15 PM.
______ With corrections
______ Without corrections
________________________________________ ____________________ Chairman Date
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