I Call to Order and Roll Call - 9:40 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 9:40 a.m. The following roll call was taken:

Keith Balla, CPA Excused
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, PA Present
Robert Sommer, PA Present
Peter Torok, Public Member Present

Also present at the meeting were William Mandeville, Executive Director; Tobey Palan, Deputy Attorney General; Melba Rodriguez, Secretarial Assistant; Marie Lisa, Staff; James Blake, CPA, President, NJSCPA; Mike Polito, Past President, NJSCPA; Jeff Kaszerman, Government Relations Manager, NJSCPA and David Plaskow, Editor, NJSCPA Magazine.

II Minutes of the Meeting of September 18, 2008

On a motion made by Andrew DuBoff, seconded by Bennie Hadnott, the Board voted to approve the September 18, 2008 Public Session minutes with corrections. The vote of the Board was unanimous.

III President’s Remarks

President Jenkins thanked the Cagnassola’s for hosting Marianne Greenwald’s retirement party.

President Jenkins also informed the Board that the balance of unspent funds from the breakfast/lunch fund were used towards Ms. Greenwald’s retirement gift.

IV Executive Director’s Remarks

Executive Director Mandeville informed the Board that license renewal notices will be mailed out late October but prior to November 1st. He did not have an exact date as to when the mailings will actually occur.

V Request for Waiver

A Guy L. DiStefano

Mr. DiStefano requested consideration from the Board to accept six months of work experience with a CPA. Mr. DiStefano was unable to provide further statements of experience with a CPA.

On a motion made by Donald Jump, seconded by Robert Sommer, the Board voted to send Mr. DiStefano a letter informing him of the address of Reber and Sons, Inc. so that he may contact them in order to obtain a Statement of Experience. The vote of the Board was unanimous.

VI CPA Examination Services

A Correspondence from Kathleen E. Love, Manager, State Coordinators

Correspondence was received from Ms. Love wherein she wishes to inform the Board of a special security paper they will be utilizing in an effort to enhance the security of the official pass letters being issued to candidates.

The Chair directed that the correspondence be accepted as informational.

VII Miscellaneous

A Anonymous correspondence was received wherein it was reported that Vitaly Litvin is practicing accountancy without a license. A search of the records revealed that Mr. Litvin is in the process of obtaining a license with the State of New Jersey.

On a motion made by Donald Jump, seconded by Andrew DuBoff, the Board voted to send Mr. Litvin a letter that he must cease and desist from using the term CPA in his advertisement until he has completed his licensing process. Once he has obtained his licensed, he may then apply for a firm registration. The vote of the Board was unanimous.

B Anonymous correspondence was received wherein it was reported that Patricia Penrose is practicing accountancy without a license. A search of the records revealed that Ms. Penrose does not have a CPA license in the State of New Jersey.

On a motion made by Robert Cagnassola, seconded by Donald Jump, the Board voted to send Ms. Penrose a letter that she must cease and desist from using the CPA designation in her advertisements until she has obtained a New Jersey CPA license. Once she has obtained a CPA license, she may then apply for a firm registration. The vote of the Board was unanimous.

C Joseph Graziano

Mr. Graziano is planning to retire and requested information regarding registering as a public accounting firm. He plans to work as a consultant and his services would include writing and/or reviewing technical accounting publications.

On a motion made by Robert Cagnassola, seconded by John Dailey, the Board voted to inform Mr. Graziano that if is going to perform any of the services listed in N.J.S.A. 45:2B-44, then he must register as a firm. The vote of the Board was unanimous.

D George W. Hogan, III

Mr. Hogan is requesting a waiver of the CPE credits for the triennial renewal ending 12/31/08. Mr. Hogan will be deployed to Iraq as a civilian firefighter working for the Department of Defense. He is scheduled to be deployed April 2009.

On a motion made by Robert Sommer, seconded by Peter Torok, the Board voted to waive the CPE requirements for the triennial period ending 12/31/08. The vote of the Board was unanimous.

VIII Committee Reports

A CPA Examination Committee

Margaret Shoe reported to the Board that she visited the Deptford, NJ Prometric Testing Center and gave a detailed review of the facilities at the site and all related security. She reported individuals working at the facility are pleasant and work very well the candidates. Ms. Shoe reported that the security seemed to be very good.

B Ethics Committee

Donald Jump informed the Board that an Ethics Committee meeting will be scheduled sometime in November or December to meet with NJ Law and Ethics course providers concerning courses to be offered in the next triennial period.

C CPE Committee

Robert Sommer informed the Board that there was a CPE Committee meeting held on October 8, 2008 and that there was some unfinished business that needed the Committee’s attention. Unfortunately, Mr. Sommer’s reported the he was unable stay at the conclusion of the Board meeting to resolve these matters but that President Jenkins and Mr. Kosson will review the matters on their own and report back to the Board.

D RMA Committee

Robert Cagnassola reported to the Board that the RMA Examination would be held on Friday, December 5, 2008. So far, there is one candidate scheduled to sit.

Executive Director Mandeville requested that two Board members make themselves available to assist in the proctoring of the examination in December. Mr. DuBoff, Mr. Sommer and Mr. Cagnassola volunteered to assist.

E QE Committee

Robert Cagnassola reported to the Board that the revised Quality Enhancement regulation approved by the Board will be published in the New Jersey Register.

F Education Committee

Bennie Hadnott had no report for the Board but did mention that he would be attending the NASBA convention in Boston. Mr. Hadnott will make a report at the next Board meeting. Mr. Sommer and Mr. Cagnassola are also attending the meeting.

G Reciprocity Committee

Keith Balla submitted no report for the Board.

H Nominating Committee

Andrew DuBoff had no report for the Board.

I Statute/Rules/Regulations Committee

Andrew DuBoff reported to the Board that the Committee needs to schedule a meeting in order to review current laws and regulations for any revisions necessary to be consistent with the mobility rules that will be in effect in July 2009.

J Planning Committee

Margaret Shoe reported to the Board that she emailed June Levy regarding inserts planned to be included with license renewal forms relative to licensee’s email addresses. Ms. Shoe to date has not received a response.

K Monitoring Profession Committee

John Dailey had no report for the Board.

Mr. Dailey reminded the Board that he would not be attending the November 13, 2008 Board meeting and would need another Board member to take notes and review the minutes. Mr. DuBoff offered to take notes and review the minutes.

IX Public Comments

James Blake, CPA, President, NJSCPA informed the Board that the Society met with managing partners of the major firms group on September 22 and 23, 2008. Subsequently, on October 7, 2008 the Society met with the managing partners of the Big Four Firms.

Mr. Blake informed the Board that the Society also met with the League of Municipalities on Tuesday, October 14, 2008.and have a meeting scheduled with Senator Buono on Thursday, October 23, 2008. Both of these issues were related to the Comptroller Boxer’s report concerning governmental audits.

Mr. Blake invited the Board to the Society’s Holiday Luncheon to be held at the Society’s headquarter offices in Roseland, NJ on December 15, 2008.

Mr. Blake informed the Board that the Society is still spreading the word that the renewals are going to be mailed out shortly and that all CPE must be completed by December 31, 2008.

Mr. Blake reported that the Society was represented at the New Jersey Chamber of Commerce Cornerstone Retreat held on September 23 and 27, 2008. Included on the agenda was how to stimulate New Jersey’s economy.

Mr. Blake expressed concern regarding the status of the proposed CPE regulations. The Board informed Mr. Blake that they are hoping the proposed CPE regulations will be published and in effect by the end of December.

On a motion made by Donald Jump, seconded by Robert Sommer, the Board voted to adjourn the Public Session meeting at 11:00 A.M. to reconvene in Executive Session to discuss two matters of New Business, one matter of Old Business, the 2009 Investigative Inquiry Assignments, one Request for CPE Waiver, one Request for Reinstatement, five PCAOB reports, one KPMG report and five Consumer Complaints. The vote of the Board was unanimous.

Respectfully submitted,

William Mandeville
Executive Director