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!