- Maryland was the third state to recognize public accounting by enacting a law establishing certified public accountants in 1900.
- The Maryland Association of CPAs was established in 1901 to unite CPAs in the state and adhere to high professional standards.
- Maryland was one of the first states to enact mandatory continuing professional education (CPE) for CPAs to keep up with changes.
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New CPA - Welcome to the Profession - MACPA
1. Welcome to the CPA Profession!
Congratulations New CPAs!
November 1, 2012
BWI Hilton Hotel
The Maryland Association of CPAs
www.macpa.org
2. We believe in CPAs! Period.
And we believe in you!
Congratulations!
3. “Let your future be lit with
the knowledge of the
past.”
- Sakichi Toyoda, Founder, Toyoda Automatic Loom
Works, predecessor to Toyota Motor Company
4. 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
5. Maryland CPA Facts
Welcome Secretary of the DLLR, Leonard Howie III
On September 17, 2012,
Governor Martin O'Malley
named Leonard James Howie,
III as Secretary of the
Maryland Department of
Labor, Licensing & Regulation
(DLLR).
6. 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
7. 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
8. 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
9. Maryland CPA Facts
Maryland is
reporting record
#s of CPA Exam
candidates CPE
Exam passers
Source: Maryland State
Board of Public
Accountancy
10. 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
Source: Newseum in Washington DC
11. 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
12. Maryland CPA Facts
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
13. Maryland CPA Facts
The CPA Examination
The 1900 Exam
The 2012 Exam
1. Practical Accounting
1. Auditing Attestation
2. Theory of Accounts
(AUD)
3. Auditing
2. Business Environment
4. Commercial Law
Concepts (BEC)
5. Commercial 3. Financial Accounting
Arithmetic
Reporting (FAR)
4. Regulation (REG)
14. Maryland CPA Facts
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
15. 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.
16. 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.
17. 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.
18. Maryland CPA Facts
Associations were a “uniquely American institution”
first observed by the French political philosopher in
1835 when he noted:
“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
19. CPAs in record attendance at CPA Day in Annapolis
Nowhere is this more evident than in our advocacy efforts at
the State Board of Public Accountancy and in Annapolis for
our Legislature…
CPA Day in Annapolis January 16, 2013
20. History
of
CPA
LegislaLon
Interstate
Prac+
ce
A
passes
ntancy
Act
KEY In
the
Beginning...
1993
MACP
Acts
MD
LLC
L
LP
Uniform
Accou
Rights
Recogni+on
GOALS/ Max
Teichman,
RESULTS Frank
Blacklock
• Privilege
of
Self-‐
AG
opinion
of
1981
William
Rogers
RegulaLon
Grants
rights
to
non-‐CPAs
SB
560
Defeated
Maryland
Corporate
• Right
to
Sole
Control
over
for
Reviews
Comps.
Accountability
Act
an
Area
of
PracLce
MACPA
requests
reversal
of
AG
Opinion
HB
1296
–
“This
is
not
an
audit”
language
added
Mobility
PROJECTS/ stops
MACPA
wins
use
of
Passes
PA “consultants”
in
firm
Maryland
STRATEGIES MAC al
sever to leBerhead
at
State
Board
pts Special
attem 1924
d Session
State
Board
of
amen
Accountancy
law
AccounLng
Oct
–
Nov
07
Reform
task
formed
Maryland
Force
bendn
gi
KEY EVENTS CPAs addresses
MACPA
defeats
Sales
becomes
the
1st
Non- pts at 2 SOX
attem license
Tax
on
Services
state
to
restrict
Tier HB
1261
re-‐writes
State
Board
Hearing
CPA
Law
-‐
1986
May
1,
2003
sses
Amended
Corporate
pracLce
for
CPAs
pa hip
MACPA
amendments
to
CPA s Tax
ReporLng
Bill
MA Owner
ed
requirements
fail
UAA CPA
MACPA
p
tries -‐
MAC
PA E non asses
new
ss CP
PEOPLE to pa 1974 simpler
CPA
exam
n
Bill i 975
MACPA
Forms
Task
Force
and
EducaLon
Rules
1 surveys
members
s
•
CPA
Bill
signed
April
10,
1900
88%
Sub
Equivalency
A
win
ACP oard
M
76%
Peer
Review
Safe
Harbor
e
B er
•
MD
is
3rd
state
(NY
PA)
68%
Non-‐CPA
Ownership
Terry
Hancock
Stat alify
Pe E
To
qu
for
CP
chairs
LegislaLve
iew
Larry
Kamanitz
Rev t
PRODUCTS/ Dawson
Grove
CommiBee
Allen
Deleon
credi
SERVICES/
chairs
LegislaLve
SITES chairs
LegislaLve
chairs
LegislaLve
CommiBee
CommiBee
CommiBee
Bill
Bill
ils
s
CPA y
CPE n
fa t
passes
sign 9 01
empt
d ator sl aLo n
mith ed
1
aB
Law es
Man Legi eme yr
IN
G
Jo hn
S 0
undPA
first udit
Fo AC s
1924 as s ev iew
Requir
1,
1999
sses
1
ent
ssed
AR
N
Gov. 0,
190 ACPA M
to
a as se P A
P lity
R s
E d uary CPA
p irem PA
exam nd
Bill
pa
a
LE
Apri
l
1 M ghts ACPA
p MAC Qua 50
Hour ate
is
JaUAA
MAnce
Requ terized
C parate
Fu
n
to
ri M 1 Lve
d ie pu Se
c xper Co m E
Eff e
Dateline
1900
1901
1922
1924
1974
1976
1981
1987
1993
1999
2001
2003
2005
2006
2007
20
2008
Maryland
Associa+on
of
CPAs
21. Maryland CPA Facts
Maryland was one of the first states to enact a law requiring
mandator y 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.
22. And continues to be modernized to meet the demands of the
Profession and the changing world we live in…
A Bill SB 128
Maryland Senate
Maryland Governor
Law
From State Board
House passes bill
signs into law
Maryland State Board of
Public Accountancy
Clarify thru regulations
And enforce the law
23. 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.
24. Maryland CPA Facts
More than 100 MACPA members call our senators and we
defeat the amendment!
25. 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
26. Maryland CPA Facts
Maryland continues to be a leader in the CPA
Profession and recognized as an innovator.
27. Maryland CPA Facts
Maryland continues to be a leader in the CPA
Profession and recognized as an innovator.
28. 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.
29. 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.
30. Maryland CPA Facts
MACPA members have a competitive
edge with 24 hours of free CPE and the
best learning resources in the CPA
Profession
31. Maryland CPA Facts
MACPA can help you maximize your career trajectory
through our Business Learning Institute’s leadership
proficiency training.
http://cpa.tc/thebounce
32. Maryland CPA Facts
“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
33. 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.
34. 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!
The Maryland Association of CPAs
www.macpa.org