I Call to Order and Roll Call - 9:35 A.M.

A meeting of the New Jersey State Board of Accountancy was convened in accordance with the provisions of the Open Public Meetings Act. Pursuant to those provisions, the proper notifications were made to the Office of the Secretary of State, the Camden Courier-Post, the Trenton Times, the Asbury Park Press, the Record and the Star-Ledger. Albertus Jenkins, Board President, called the meeting to order at 9:35 a.m. The following roll call was taken:

Keith Balla, CPA Present
Robert Cagnassola, CPA Present
John Dailey, Jr., CPA Present
Andrew DuBoff, CPA Present
Bennie Hadnott, CPA Present
Albertus Jenkins, Public Member Present
Donald Jump, CPA Present
Aubrey Kosson, CPA Present
Margaret Shoe, Public Accountant Present
Robert Sommer, Public Accountant Present
Peter Torok, Public Member Present

Also present at the meeting were William Mandeville, Executive Director; Marianne Greenwald, Deputy Attorney General; Melba Rodriguez, Secretarial Assistant; Marie Lisa, Staff; Ralph Thomas, Executive Director, NJSCPA; Mike Polito, CPA, Past President, NJSCPA; John Coiro, CPA, President, NJSCPA and David Plaskow, Editor, NJSCPA Magazine.

II Minutes of the Meeting of February 21, 2008

On a motion made by Andrew DuBoff, seconded by Bennie Hadnott, the Board voted to approve the February 21, 2008 Public Session minutes with corrections. The vote of the Board was unanimous.

III President’s Remarks

Board President Jenkins had no remarks for the Board.

IV Executive Director’s Remarks

Executive Director Mandeville had no remarks for the Board.

V Request for Reinstatement by Reciprocity

A Patricia J. Salkin

Patricia J. Salkin is requesting reinstatement through reciprocity of her New York license. Ms. Salkin’s New Jersey license expired 12/31/99.

On a motion made by Robert Cagnassola, seconded by Donald Jump, the Board voted to approve Ms. Salkin’s request to reinstate her CPA license through reciprocity. The vote of the Board was ten voting in favor with Aubrey Kosson in opposition.

VI Legislative Matters

A Assembly No. 2466

Allows certified public accountants licensed in other states to practice public accountancy and attest services in this State under certain circumstances.

The Chair directed that Assembly Bill 2466 be accepted as informational.

VII Provisional Orders of Discipline

On a motion made by Robert Sommer, seconded by Robert Cagnassola, the Board voted to move the Provisional Orders of Discipline to Executive Session based on advice of counsel. The results will be reported in a subsequent Public Session. The vote of the Board was unanimous.

A Glenn Fisher

B Joseph Croghan

C James Lovegrove

D Kevin M. Gould

E Michael J. Wirth

F Donald E. Cutler

G Terry A. Rafferty

H Jin Huh

I Mark D. Truglio

J Carlton A Worthy

K Peter J. Carragher

VIII Committee Reports

A CPA Examination Committee

Aubrey Kosson compiled CPA Examination statistics and distributed the information to the Board for review and comment.

B Ethics Committee

Donald Jump had no report for the Board.

C CPE Committee

Robert Sommer reported to the Board that a CPE Committee meeting was held on March 12, 2008. Present at the meeting were President Jenkins, Mr. Hadnott and Mr. Sommer. Mr. Sommer submitted a written report, which recommended that several new sponsors be approved.

On a motion made by Robert Sommer, seconded by Peter Torok, the Board voted to approve the recommendations of the CPE Committee as detailed in the report. The vote of the Board was unanimous.

D RMA Committee

Robert Cagnassola had no report for the Board.

E QE Committee

Robert Cagnassola had no report for the Board.

F Education Committee

Bennie Hadnott informed the Board that there was a NJSCPA Educators’ Committee meeting held on March 7, 2008 at the New Jersey offices of Ernst and Young. Mr. Hadnott was not physically present at the meeting, but did participate by conference call. The CPE regulations which are in the comment period were discussed. Mr. Hadnott informed the Board that a letter will be sent to Executive Director Mandeville regarding CPE credits for instructors teaching college courses.

G Reciprocity Committee

Keith Balla had no report for the Board.

H Nominating Committee

Andrew DuBoff informed the Board that the committee will have a proposed slate of officers at the April Board meeting.

I Statute/Rules/Regulations Committee

Andrew DuBoff had no report for the Board, however, he requested that the proposed CPE regulations be added to the Executive Session Agenda.

J Planning Committee

Margaret Shoe had no report for the Board.

K Monitoring Profession Committee

1 Audit of Continuing Professional Education (CPE)

John Dailey reported to the Board that a letter regarding the recent CPE audit for the period ended 12/31/05 has been completed and is ready for web posting. He thanked the Committee and staff for their efforts in this lengthy process. Mr. Dailey reported that the results of the CPE audit were very disappointing.

Executive Director Mandeville informed the Board that the proposal from Compliance Services for future CPE audits was submitted to the Director’s Office for review.

XI Public Comments

John Coiro, CPA, President, NJSCPA informed the Board that he also was very disappointed with the results of the CPE audit. Mr. Coiro informed the Board that the Society would also post the Board’s CPE audit result letter and that they would advise their members about completing their CPE credits and about proper renewal of their Licenses. Mr. Coiro informed the Board that the mobility regulation would be introduced after the budget break, and that fifteen states have now passed the mobility legislation.

Mr. Coiro reported to the Board that on March 9, 2008 the Star Ledger posted a call center for tax advice to the public, and that questions were fielded by members of the NJSCPA.

Ralph Thomas, Executive Director, NJSCPA informed the Board that the Scholarship Awards Ceremony would be on April 17, 2008. Mr. Thomas informed the Board that he would provide Executive Director Mandeville with a letter of comments from the NJSCPA Educators Committee. Mr. Thomas reported that on April 7 the Society will host a meeting to talk about taxes and spending in the State and that the new State Treasurer will speak.

Mr. Thomas also expressed his disappointment with the results of the CPE audit. The Society will do whatever it has to, to get the word out to members of the Society. The Board’s letter will also be published in the Society’s magazine.

Mike Polito, CPA, Past President, NJSCPA informed the Board that he was not surprised at the at the results of the CPE audit. Mr. Polito feels that a letter should be sent to all providers letting them know the results of the most recent CPE audit. Mr. Polito also reported that it would only cost between $20-$30 to have a company track CPE credits and it is a great service.

Executive Director Mandeville stated that he would draft a letter to be sent to providers.

On a motion made by Robert Sommer, seconded by Bennie Hadnott, the Board voted to adjourn the Public Session meeting at 10:25 A.M. to reconvene in Executive Session to discuss the results of the Investigative Inquiry that was conducted on March 6, 2008, twelve Provisional Orders of Discipline, two matters of New Business, one miscellaneous matter and five consumer Complaints. The vote of the Board was unanimous.

Respectfully submitted,

William Mandeville
Executive Director