www.macpa.org The Maryland Association of CPAs
Welcome to the CPA Profession! Congratulations New CPAs!
November 1, 2012 BWI Hilton Hotel
We believe in CPAs! Period. And we believe in you!
Congratulations!
“Let your future be lit with the knowledge of the
past.” - Sakichi Toyoda, Founder, Toyoda Automatic Loom
Works, predecessor to Toyota Motor Company
Maryland CPA Facts
Tonight marks the fifth year of our official swearing-in ceremony developed in
cooperation with the Maryland Department of Labor Licensing &
Regulation
Maryland CPA Facts
On September 17, 2012, Governor Martin O'Malley
named Leonard James Howie, III as Secretary of the
Maryland Department of Labor, Licensing & Regulation
(DLLR).
Welcome Secretary of the DLLR, Leonard Howie III
Maryland CPA Facts
Welcome Harry Loleas, Commissioner of Occupational & Professional Licensing who will administer the oath
Pictured left to right – Dennis Gring, Ray Speciale & Harry Loleas
Maryland CPA Facts
Welcome Michael Vorgetts, Deputy Commissioner of Occupational & Professional Licensing
Michael Vorgetts joined the Division of Occupational and Professional Licensing in
August 2012 to serve as Deputy Commissioner after four years with the Maryland Department
of Legislative Services. In his capacity with Legislative Services, Michael conducted fiscal and
policy analysis on issues related to DLLR
Maryland CPA Facts Maryland State Board of Public Accountants���Chair - Thomas J. "Tim" Murphy, CPA, Industry Member (Prince George's County)���Mac N. Claxton, CPA, Industry Member (Prince George's County)���Elizabeth S. Gantnier, CPA, Industry Member (Frederick County)���Clifton B. Jeter, CPA, Industry Member (Montgomery County)���Ella H. Pierce, Consumer Member (Baltimore City)���Naomi B. Powell, Consumer Member (Prince George's County)���Raymond C. Speciale, Esq., CPA, Education Member (Frederick County) Dennis L. Gring, Executive Director���Linda Rhew, Administrative Officer
Maryland CPA Facts Maryland is
reporting record #s of CPA Exam candidates & CPE
Exam passers
Source: Maryland State Board of Public Accountancy
Source: Newseum in Washington DC
Maryland CPA Facts Associations have their roots in the First Amendment of the US Constitution that allowed for :
• freedom of speech • to peaceably assemble • to petition the Government for a redress of grievances
Maryland CPA Facts Two Marylanders are credited with
the formation of the CPA Profession in the United States:
Edward C. Cockey as the first
president of the AICPA and Henry Harney as the source of the concept of a Certified Public
Accountant.
Source : MACPA History Book
A profession has three major attributes 1. A distinct and evolving body of knowledge 2. A commitment to the public interest – licensed by the
government 3. A code of conduct and ethics
Maryland CPA Facts
Maryland CPA Facts���The CPA Examination
The 1900 Exam 1. Practical Accounting 2. Theory of Accounts 3. Auditing 4. Commercial Law 5. Commercial
Arithmetic
The 2012 Exam 1. Auditing & Attestation
(AUD) 2. Business Environment
Concepts (BEC) 3. Financial Accounting &
Reporting (FAR) 4. Regulation (REG)
Maryland was the third state in the U.S. to recognize the public interest of
accounting and financial reporting by enacting a law that established and
regulated the practice of the profession of PUBLIC ACCOUNTANT.
On April 10, 1900, Governor John Smith signed into law Chapter 719 establishing
the (Certified) Public Accounting designation
Maryland CPA Facts
Maryland CPA Facts
The Maryland Association of CPAs, Inc. was established on February 12, 1901 for
the purpose of uniting CPAs across Maryland and enabling them to conform
to the high standards of the CPA profession.
Maryland CPA Facts
We updated our mission and purpose in 2000 (and logo in 2011) to reflect the changing world of the CPA Profession and our
Association.
Maryland CPA Facts
We will help CPAs compete and thrive in a rapidly changing environment by:
• Connecting them to their profession, each other, and the business community.
• Protecting and promoting the CPA license and brand. • Achieving career success through technical excellence,
thought leadership, best-in-class professional development, and being their trusted filter for information.
“From then on, they are no longer isolated men, but a power one sees from a far, whose actions serve as an example; a power that
speaks, and to which one listens.” – Alexis de Tocqueville
Maryland CPA Facts Associations were a “uniquely American institution” first observed by the French political philosopher in
1835 when he noted:
Nowhere is this more evident than in our advocacy efforts at the State Board of Public Accountancy and in Annapolis for
our Legislature…
CPAs in record attendance at CPA Day in Annapolis
CPA Day in Annapolis January 16, 2013
20
KEY GOALS/ RESULTS
PROJECTS/ STRATEGIES
PRODUCTS/ SERVICES/ SITES
PEOPLE
KEY EVENTS
LEARNING
MACPA Foun
ded 1901
Dateline
Gov. John
Smith sign
s CPA Bill
April 10, 1
900 MACPA first
aBempt
to rights
to audit
MACPA pass
es 1924 La
w
1900 1987 1974 1976
In the Beginning...
MACPA stops
several
attempts to
amend 1924
law
Maryland becomes the 1st state to restrict pracLce for CPAs
1901
Larry Kamanitz chairs LegislaLve CommiBee
MACPA tries
to pass CPE
Bill in 1974
& 1975
AG opinion of 1981 Grants rights to non-‐CPAs for Reviews & Comps.
MACPA Pass
es Manda
tory CPE B
ill
Max Teichman, Frank Blacklock & William Rogers
Interstate Prac+ce &
Uniform Accountancy Act
HB 1296 Mobility Passes
Quality Re
view Legis
laLon fails
150 Hours
Ed Require
ment pass
es
EffecLve d
ate is Janu
ary 1, 199
9
• CPA Bill signed April 10, 1900 • MD is 3rd state (NY & PA)
1922 1924 1981
Non-CPAs begin
attempts at 2nd
Tier license
2005
HB 1261 re-‐writes CPA Law -‐ 1986
MACPA amendments to ed requirements fail
Dawson Grove chairs LegislaLve CommiBee
Allen Deleon chairs LegislaLve CommiBee
1993 MACPA passes
MD LLC & LLP Acts
Rights & Recogni+on • Privilege of Self-‐RegulaLon • Right to Sole Control over an Area of PracLce
History of CPA LegislaLon
1993 2006 2003
UAA MACPA
passes 1
yr
Experienc
e Requirem
ent
2007 2008 2001 1999
SB 560 Defeated Maryland Corporate Accountability Act
MACPA requests reversal of AG Opinion – “This is not an audit”
language added
Terry Hancock chairs LegislaLve CommiBee
MACPA Forms Task Force and surveys members
88% Sub Equivalency 76% Peer Review & Safe Harbor
68% Non-‐CPA Ownership
State Board of Accountancy
formed
UAA MACPA
passes
non-‐CPA O
wnership
Computeri
zed CPA ex
am
Separate
Fund Bill p
assed
Maryland Special Session
Oct – Nov 07
MACPA defeats Sales Tax on Services
Amended Corporate Tax ReporLng Bill
MACPA wins
State Boar
d
To qualify
Peer
Review for
CPE
credit
MACPA wins use of “consultants” in firm
leBerhead at State Board
AccounLng Reform task
Force addresses
SOX
State Board Hearing May 1, 2003
MACPA passes new simpler CPA exam EducaLon Rules
Maryland Associa+on of CPAs
Maryland CPA Facts Maryland was one of the first states to enact a law requiring mandatory Continuing Professional Education (CPE), recognizing the public interest of CPAs keeping up with changes in standards and law. This has turned into a core value of lifelong learning for CPAs.
And continues to be modernized to meet the demands of the Profession and the changing world we live in…
Maryland Senate & House passes bill
A Bill SB 128 From State Board
Law Maryland Governor signs into law
Maryland State Board of Public Accountancy
Clarify thru regulations And enforce the law
Maryland CPA Facts In 1924, Maryland was the first state to enact
a law restricting the practice of public accountancy to licensed CPAs and recognizing the important role CPAs would play in the growing commerce and industrial sectors of the Maryland economy.
This would resurface with the advent of Accounting & Review services in a 1981 Attorney General Opinion allowing non-CPAs to offer reviews and compilations in the State of Maryland, only to be reversed by legislation sponsored by MACPA & the State Board in 2010 reverting back to the original intent of the 1924 law.
More than 100 MACPA members call our senators and we defeat the amendment!
Maryland CPA Facts
Maryland CPA Facts “A large field for the ladies”
MACPA was one of the first organizations to recognize
the importance of women in the CPA profession with the admittance in 1909 of two members, Elsa Doetsch and
Florence Hooper. The Maryland BAR would
not admit women until 1946
Source: MACPA History Book
Maryland CPA Facts Maryland continues to be a leader in the CPA
Profession and recognized as an innovator.
Maryland CPA Facts Maryland continues to be a leader in the CPA
Profession and recognized as an innovator.
Maryland CPA Facts
Last year MACPA led the CPA Horizons 2025 Project for the AICPA using our i2a: Insight to Action strategic thinking system to design and facilitate over 30 future
forums with 1,000 CPAs to create a vision for the Profession in 2025.
Maryland CPA Facts MACPA’s CEO was named as the fourth
most influential person in the Accounting
Profession among the Top 100 list by
Accounting Today Magazine. It was
Tom’s eighth year on the list.
Maryland CPA Facts
MACPA members have a competitive edge with 24 hours of free CPE and the
best learning resources in the CPA Profession
Maryland CPA Facts MACPA can help you maximize your career trajectory
through our Business Learning Institute’s leadership proficiency training.
http://cpa.tc/thebounce
“Association members earn higher salaries, like their
jobs more, and are happier people, on average, than those that do not join
associations.”
- Where the Winners Meet: Why Happier, More Successful
People Gravitate Toward Associations Study by William
E. Smith
Maryland CPA Facts
Association by Seth Godin Who you hang out with determines what
you dream about and what you collide with. And the collisions and the dreams lead to
your changes. And the changes are what you become. Change the outcome by changing your
circle.
www.macpa.org The Maryland Association of CPAs
There is an old adage that says, "you can tell a lot about a person from the company they
keep.”
We hope you will choose to “associate” with us. Best wishes for a successful career as a CPA!