Maryland  CPA  Facts  

Welcome to the CPA Profession! Congratulations New CPAs!

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

Gail H. Bates has been a member of the Maryland House of Delegates since February 4, 2002. Currently, Delegate Bates sits on the Appropriations Committee

and the Public Safety & Administration Sub-Committee. In addition, she is a member of the Joint Committee on Children, Youth & Families, as well as the Special Joint

Committee on Pensions

Welcome Senator Gail Bates, CPA

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. He currently serves as the

Acting Commissioner.

Welcome Michael T. Vorgetts, Acting Commissioner

Maryland  CPA  Facts  

Maryland State Board of Public Accountants���Elizabeth S. Gantnier, CPA, Chair, Industry Member (Frederick County)���Mac N. Claxton, CPA, Industry Member (Prince George's County) Ross S. Ehudin, Consumer Member (Baltimore City) Arthur E. Flach, CPA, Industry Member (Howard County) Phillip J. Korb, CPA, Education Member (Baltimore County) Clifton B. Jeter, CPA, Industry Member (Montgomery County) Naomi B. Powell, Consumer Member (Prince George's County)���Dennis L. Gring, Executive Director Linda Rhew, Administrative Officer

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  forma8on  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  Cer8fied  Public  Accountant.  

•  Source  :  MACPA  History  Book  

A  profession  has  three  major  aGributes  1.  A  dis8nct  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  Examina8on  

• The  1900  Exam  1.  Prac8cal  Accoun8ng  2.  Theory  of  Accounts  3.  Audi8ng  4.  Commercial  Law  5.  Commercial  

Arithme8c  

• The  2014  Exam  1. Audi8ng  &  AGesta8on  (AUD)  

2. Business  Environment  Concepts  (BEC)  

3. Financial  Accoun8ng  &  Repor8ng  (FAR)  

4. Regula8on  (REG)  

• Maryland  was  the  third  state  in  the  U.S.  to  recognize  the  public  interest  of  accoun8ng  and  financial  repor8ng  by  enac8ng  a  law  that  established  and  regulated  the  prac8ce  of  the  profession  of  PUBLIC  ACCOUNTANT.    

• On  April  10,  1900,  Governor  John  Smith  signed  into  law  Chapter  719  establishing  the  (Cer8fied)  Public  Accoun8ng  designa8on  

Maryland CPA Facts

Maryland  CPA  Facts  

The  Maryland  Associa8on  of  CPAs,  Inc.  was  established  on  February  12,  1901  for  the  purpose  of  uni8ng  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  Associa8on.  

Maryland  CPA  Facts  

We  will  help  CPAs  compete  and  thrive  in  a  rapidly  changing  environment  by:    •  Connec8ng  them  to  their  profession,  each  other,  and  

the  business  community.    •  Protec8ng  and  promo8ng  the  CPA  license  and  brand.  •  Achieving  career  success  through  technical  excellence,  

thought  leadership,    best-­‐in-­‐class  professional  development,  and  being  their  trusted  filter  for  informa8on.    

“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 29, 2015

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  con8nues  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

1040  fast  track  

Maryland  CPA  Facts  •  In  1924,  Maryland  was  the  first  state  to  

enact   a   law   restric8ng   the   prac8ce   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  Accoun8ng  &  Review  services  in  a  1981  AGorney   General   Opinion   allowing  non-­‐CPAs   to   offer   reviews   and  compila8ons   in   the   State  of  Maryland,  only   to   be   reversed   by   legisla8on  sponsored   by   MACPA   &   the   State  Board   in   2010   rever8ng   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

MACPA’s CEO is on the 2014 List of the

Top 100 Most Influential People in

the Accounting Profession by

Accounting Today Magazine. It is Tom’s 10th year on the list.

Maryland  CPA  Facts  Maryland continues to be a leader in the CPA

Profession and recognized as an innovator.

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 training.

http://cpa.tc/thebounce

Maryland  CPA  Facts  •  “Associa8on  members  earn  higher  salaries,  like  their  jobs  more,  and  are  happier  people,  on  average,  than  those  that  do  not  join  associa8ons.”  

-­‐    Where  the  Winners  Meet:  Why  Happier,  More  Successful  People  Gravitate  Toward  Associa8ons  Study  by  William  E.  Smith  

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

Welcome to the CPA Profession! Congratulations New CPAs!