MINUTES STATE BOARD OF

CERTIFIED PUBLIC ACCOUNTANTS OF LOUISIANA

601 Poydras Street, Suite 1770 New Orleans, Louisiana 70130

July 22 - 23, 2008

The regular meeting of the State Board of Certified Public Accountants of Louisiana was called to order by Chairman Mr. Tham on Tuesday and Wednesday July 22 - 23, 2008 in the offices of the Board at 601 Poydras Street, New Orleans, Louisiana, 70130. The purposes of the meeting were to review information and statistics concerning the CPA Examination, review information concerning reinstatement of Certificates, consider applications for certification, and to transact any other business that requires the Board's attention. The following Members were present: Michael A. Tham, CPA - Chairman Desireé W. Honoré, CPA - Secretary Carol T. Barnes, CPA - Treasurer Susan C. Cochran, CPA - Member Mark P. Harris, CPA - Member Michael B. Bruno, CPA - Member Letti Lowe-Ardoin, CPA - Member Also present were: Staff: Michael A. Henderson, CPA - Executive Director Clinton J. Cognevich - Director of Administration Guests: Grady Hazel, CPA - LCPA Executive Director Diane Jones - LCPA CPE Manager (7/22/08 1:15 pm) Albert G. Kroeper - Independent Accountants Calvin Lopes - Enrolled Agents Albert J. Derbes, III - Attorney at Law (7/23/08 10:00 a.m.)

The meeting was called to order by Chairman Mr. Tham at 9:03 a.m. on July 22, 2008, upon motion by Mrs. Lowe-Ardoin, seconded by Mrs. Cochran and unanimously adopted. The meeting was called to order by Chairman Mr. Tham at 9:03 a.m. on July 23, 2008, upon motion by Mrs. Barnes, seconded by Mrs. Lowe-Ardoin and unanimously adopted.

July 22 - 23, 2008

I. CHAIRMAN'S REPORT A. Board Employees

1. Craig S. Laborde, Special Investigator, resigned effective June 15, 2008. 2. The Special Investigator position was reallocated to Compliance Investigator (1, 2, 3) by Civil Service. 3. Latasha L. Caffey was hired as Compliance Investigator 2, AS-613, effective July

21, 2008.

4. Patricia Moore, Administrative Assistant 2, received a 4% merit increase effective June 16, 2008, as was budgeted.

5. Regina Bush, Information Technology Office Specialist 2, received a 4% merit increase effective July 12, 2008, as was budgeted.

6. Michael A. Henderson, CPA, Executive Director, received a merit increase

effective July 1, 2008, as approved by the Board. 7. Clinton J. Cognevich, Director of Administration, received a merit increase

effective July 1, 2008, as approved by the Board. 8. The Administrative Coordinator 2 position (Computer Department) will remain

vacant pending future restructuring of the Board’s office.

B. Implementation of New Database and Regulatory Software

1. CAVU “e-license” - Regulatory Software

Mr. Henderson, Mr. Cognevich and Board staff met with representatives of CAVU Corp. in the Board’s office in June and July to discuss the configuration of the regulatory software and data conversion issues. Mr. Henderson discussed with the Board the status of the project and the expected payment schedule.

2. Additional Servers

Mr. Henderson reported that Sparkhound, Inc. will make a recommendation on the additional servers needed to run the e-license software.

II. APPROVAL OF MINUTES

The regular and executive session minutes for the April 2008 Board Meeting were previously sent to all Board members for review. Mr. Harris noted a typographical error and also suggested a correction to a vote total concerning an abstention. The corrections were made to the minutes.

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July 22 - 23, 2008

By motion of Mr. Bruno, seconded by Mrs. Barnes and unanimously adopted, the Board approved the April 2008 regular and executive session minutes as revised.

III. DEATHS AND RESIGNATIONS A. Deaths (6)

Name Cert. No. Year Issued Cert. Status Charles W. Caldwell, Jr. B12071 1977 A Alphonse A. Cutitto 3856 1966 A Edmond M. d’Hemecourt, Jr. 13578 1979 A Bobby Evans 2101 1961 IA Charles P. Quirk 851 1947 Retired Michael T. Sabolyk 11208 1976 IA

A moment of silence was observed in memory of the above. B. Resignations (17)

The Executive Director informed the Board that the following Certified Public

Accountants requested that their CPA Certificate be voluntarily retired. Accordingly, their Certificates were placed in retired status.

Name Cert. No. Year Issued Cert. Status Raymond L. Carmadelle 1069 1951 IA James R. Carter B15414 1981 IA John W. Cotton B25030 2004 A Paul Crochet B1160 1953 IA Dusty J. Dumas B21716 1993 A Randall L. Herring B15419 1981 IA Stephanie R. Johnson 21433 1993 IA Thomas J. Kundinger 6297 1970 IA Margaret R. Magee B25507 2006 A Helga McCorquodale 23173 1997 A George C. Peterman B23902 1998 A Frank F. Pitts, Jr. B14272 1980 IA David A. Schuh B24882 2003 A Sharon L. Taulman B17836 1985 A Edward R. Walker S25278 2005 A Lisa N. White 17589 1985 A David G. Yarborough B25012 2003 A

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July 22 - 23, 2008

IV. CERTIFICATE AND INACTIVE STATUS REINSTATEMENTS A. Reinstatements of Certificates / Inactive Status That Were Expired March 2008

The Executive Director informed the Board that the following CPAs and CPA Inactive Status Registrants, with expirations in March 2008, reinstated their CPA Certificates or CPA Inactive Status registrations, since the April 2008 Board Meeting (18 Total: 10 Active and 8 Inactive Status): Certificate 2008 Name Number A / IA Brenda Robert Hurst 18303 A Sharon A. Kirkpatrick 19547 A Daniel Brian Klugman 25183 A Lori M. Madona 20733 A Stephen Vilac Mang 15557 A Jason Paul Rumfola B25445 A John Hartwell Smith 23896 A Laura Claudis Speir 22651 A Gloria Ann Thompson 21010 A Steven Laurence Zirilli 23396 A Gene Anthony Albarado B7133 IA Brian Lynn Bogle 19706 IA Roberto Teodoro Evangelista 17587 IA Suette Jackson 23046 IA Ralph Joseph Keir 19794 IA Jennifer Wollfarth Kliebert 24402 IA Lynn C. Mansfield 21619 IA Cheryl Crowder Rials 23524 IA

B. Reinstatements of Inactive Status from Prior Years (8) The Executive Director informed the Board that the following CPA Inactive Status

Registrants, whose status expired in prior years, reinstated their Inactive Status registrations since the April 2008 Board Meeting.

Certificate Name Number

Danielle Hymel Dubreuil 19505 Lucien H. Farmer 19996 Elizabeth Long Glaviano 24320 Patricia Duhon Lail 20723 Mark Thomas Maher 20288 Belinda Williams Rider 17218 Mark Charles Schroeder 15581 Steven Michael Werner 20809

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July 22 - 23, 2008

V. TREASURER'S REPORT

A. Financial statements for the period ended June 30, 2008 were presented for the Board’s review.

B. The Annual Financial Report (AFR) for the 2007 - 2008 fiscal year is to be completed by

Board staff, with 2007 - 2008 Board Treasurer Mrs. Barnes’ approval, and is to be filed with the Office of Statewide Reporting and the Legislative Auditor by August 31, 2008.

By motion of Mrs. Lowe-Ardoin, seconded by Miss Honoré, the Board approved the Treasurer's report.

VI. CPA EXAMINATION A. CBT Results Compared - Previous Windows and National Rates Performance – All candidates – By section Apr-May 2008 – 413 sections; 302 candidates (1.37 sections per candidate): AUD BEC FAR REG No._____% No.______% No._____% No. ______% Louisiana: Passed sect’s 44 44.00% 45 40.54% 38 40.43% 49 45.37% Failed sect’s 56 66 56 59 100 111 94 108 National pass rate -- not yet available Jan-Feb 2008 – 338 sections; 280 candidates (1.21 sections per candidate): AUD BEC FAR REG No._____% No.______% No._____% No. ______% Louisiana: Passed sect’s 37 42.05% 36 38.30% 35 47.30% 30 36.59% Failed sect’s 51 58 39 52 88 94 74 82 National pass rate -- not yet available (continued on next page)

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Oct-Nov 2007 – 441 sections; 323 candidates (1.37 sections per candidate): AUD BEC FAR REG No. ____% No. _____% No. _____% No. ____% Louisiana: Passed sect’s 45 41.28% 54 42.86% 40 42.55% 55 49.11% Failed sect’s 66 67 42 54 104 111 84 89 National pass rate 45.48% 46.69% 46.00% 46.54% July-Aug 2007 – 471 sections; 279 candidates (1.69 sections per candidate): AUD BEC FAR REG No. ____% No. _____% No. _____% No. ____% Louisiana: Passed sect’s 61 50.00% 50 37.88% 54 45.38% 43 43.88% Failed sect’s 61 82 65 55 122 132 119 98 National pass rate 51.26% 47.13% 52.38% 50.29% Apr-May 2007 – 388 sections; 267 candidates (1.45 sections per candidate): AUD BEC FAR REG No. ____% No. _____% No. _____% No. ____% Louisiana: Passed sect’s 38 36.54% 44 39.64% 42 50.00% 35 39.33% Failed sect’s 66 67 42 54 104 111 84 89 National pass rate 48.35% 48.08% 49.39% 47.89% B. Candidates Passing Examination Sections – April / May 2008 (39)

The Executive Director informed the Board that the following candidates have passed the CPA examination. CPA Examination Services (CPAES) sent to these candidates a final grade letter (“passing” letter) with a CPA Certificate application enclosed, notifying them that they completed the examination and are eligible to apply for a Certificate if they have met the experience requirements. (continued on next page)

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July 22 - 23, 2008

Name Name Christina L. Avant Brian M. Buquoi Robert L. Byrne Jessiva A. Cabirac Jodie B. Carter Brandy N. Chiasson-Howard Ashley N. Comeaux Matthew J. Craig Chad J. Dabella Gareld E. DeWitt, Jr. Carlton D. Forbes Laura E. Gilder Andrew M. Goodwin Melissa R. Grove Cormac T. Hawney Priscilla A. Hutchinson James J. Jarreau Keith G. Jenkins, Jr. Julie M. Madere Robert Q. Martin Chad P. Mason Shonda R. McCoy Christopher McFarlain Angela M. Menard Bobbie L. Myer Shalanda A. Nalencz Andrew G. Nash James A. Norris, III Annie L. Perkins To Han N. Phan Randall E. Placide Christina Guy Price Keith C. Raymond Nicole L. Schulz Leah B. Smith Carolyn D. Tolbert Josh M. Trahan Alyssa E. Wenck Kelly C. Wursteisen C. Candidate Requests and Inquiries 1. Requests for Waiver of 150 Hour Requirement, based on obtaining a degree from a Louisiana university, with an accounting concentration, prior to 1992 a. Candidate 1 Request The Board considered a request from a candidate that the Board accept waiver of 14 hours needed to satisfy the 150 hour requirement. Upon motion by Mr. Harris, seconded by Mrs. Lowe-Ardoin and unanimously adopted, the Board approved the request. b. Candidate 2 Request The Board considered a request from a candidate for a waiver of the remaining hours required to fulfill the 150 hour requirement. Upon motion by Mr. Bruno, seconded by Mr. Harris and unanimously adopted, the Board approved the request.

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c. Candidate 3 Request The candidate obtained a bachelor’s degree in accounting prior to January

1, 1992, with 136 semester hours (plus 11 hours granted on basis of military service). He inquired about the additional hours that may be required.

After discussion, upon motion by Mr. Harris, seconded by Mrs. Barnes

and unanimously adopted, the Board determined it would grant the candidate Dennis a waiver of the 150 hour requirement if he preferred to have a waiver. Executive Director Mr. Henderson will inform the candidate of his options.

D. AICPA Exposure Draft on the “Practice Analysis”

An e-mail was sent to all Board Members on May 27, 2008 concerning the AICPA Exposure Draft on the results of the AICPA’s current “Practice Analysis”. Responses to the Exposure Draft are due July 31, 2008. The Board Members will provide input to Mr. Henderson who will draft a response on behalf of the Board.

E. AICPA Board of Examiners’ Plans Regarding Exam Improvements An e-mail was sent to all Board Members on July 3, 2008 concerning the responses received by the Board of Examiners to the Invitation to Comment on Proposed CPA Examination Improvements. The Board reviewed information concerning this matter. VII. APPROVAL OF CERTIFICATES (Issued / Reissued) A. Certificates to Practice - Ratification of Certificates Issued by the Executive Director

The Executive Director informed the Board that the following individuals passed the CPA examination and submitted applications for CPA Certificates to Practice. The Executive Director evaluated the applications and the applicants’ experience and issued CPA Certificates to Practice, subject to ratification by the Board.

Upon motion by Miss Honoré, seconded by Mrs. Barnes and unanimously adopted, the Board ratified the issuance of the following CPA Certificates to Practice (Items A 1 & 2):

1. Current CPA Examination (Passed Exam After June 1999) (34) Certificate 2008 Active Name Number Control Number Issue Date Tammie Lynne Hildebrand 25972 6685 May 22, 2008 Caryl Noelie Ewing 25973 6688 June 12, 2008 Xiaoqin Zeng 25974 6689 June 12, 2008 (continued on next page)

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Certificate 2008 Active Name Number Control Number Issue Date Megan Elizabeth Brown 25978 6693 June 27, 2008 Geoffrey Clinton Campbell 25979 6694 June 27, 2008 Blaine Michael Crochet 25980 6695 June 27, 2008 Laura Marie Ezzell 25981 6696 June 27, 2008 Jeffrey M. Hatten 25982 6697 June 27, 2008 Luke Colby Huval 25983 6698 June 27, 2008 Kimberley Pearce Jones 25984 6699 June 27, 2008 Samuel Shea Kennedy 25985 6700 June 27, 2008 Jon Michael LeBlanc 25986 6701 June 27, 2008 Jonathan Ramirez 25987 6702 June 27, 2008 Michelle Houston Riley 25988 6703 June 27, 2008 S. Aaron Semon 25989 6704 June 27, 2008 Ryan Edward Todtenbier 25990 6705 June 27, 2008 Christina Luke Avant 25996 6725 July 16, 2008 Naralie Hebert Barranco 25997 6726 July 16, 2008 Brian M. Buquoi 25998 6727 July 16, 2008 Elizabeth Marie Burch 25999 6728 July 16, 2008 Matthew J. Craig 26000 6729 July 16, 2008 Gareld E. DeWitt, Jr. 26001 6730 July 16, 2008 Priscilla Ann Hutchinson 26002 6731 July 16, 2008 Keith Gerard Jenkins 26003 6732 July 16, 2008 Julie Marie Madere 26004 6734 July 16, 2008 Laura Waddell Nolan 26005 6735 July 16, 2008 James Allan Norris, III 26006 6736 July 16, 2008 Christina Guy Price 26007 6737 July 16, 2008 Leah Buchert Smith 26008 6738 July 16, 2008 Carolyn Dupuis Tolbert 26009 6739 July 16, 2008 Ryan Harris Valure 26010 6740 July 16, 2008 Amy Elizabeth Walters 26011 6741 July 16, 2008 Alyssa Eileen Wenck 26012 6742 July 16, 2008 Kelly Cedotal Wursteisen 26013 6743 July 16, 2008 2. Re-issuance of Certificates as Active (Licensed) (5) (Previous CPA Examination - Passed Exam Before June 1999) Certificate 2008 Active Name Number Control Number Issue Date Ena Aramburu-Lynch 20954 6707 (Void IA 3079) June 27, 2008 Todd Andrew Barrett 22497 6708 (Void IA 2585) June 27, 2008 Kurt Roger Demmerly 22067 6709 (Void IA 1650) June 27, 2008 Laura Graham Hirschfeld 21848 6710 (Void IA 318) June 27, 2008 Stephanie Barras Neyland 23506 6711 (Void IA 3189) June 27, 2008

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B. Reinstatements of Prior Active Certificates (Licenses) by Executive Director (7)

The Executive Director informed the Board that the following CPAs who were initially licensed, but later elected not to renew their licenses, submitted applications to reinstate to active status (Reinstatement of License). The Executive Director evaluated the applications and the applicants’ experience and re-issued CPA Certificates to Practice (License Reinstatements), subject to ratification by the Board. Upon motion by Mrs. Cochran, seconded by Mrs. Lowe-Ardoin and unanimously adopted, the Board ratified the re-issuance of the following CPA Certificates to Practice (License Reinstatements) (Item B):

Certificate 2008 Active Name Number Control Number Issue Date Daniel Jacob Cocran 24393 6712 (Void IA 2817) June 27, 2008 Amy Catherine Cohen 22781 6713 (Void IA 3411) June 27, 2008 Danielle Hymel Dubreuil 19505 6714 (Void IA ) June 27, 2008 Steven Anthony Grenier B 9293 6715 (Void IA 2243) June 27, 2008 Donald Judice Jr. 23276 6716 (Void IA 3465) June 27, 2008 Patricia Duhon Lail 20723 6717 (Void IA ) June 27, 2008 George Edward Florane III 23025 6724 (Void IA 2599) July 3, 2008 C. Approval of Reciprocal Certificates to Practice by the Executive Director (10)

The Executive Director informed the Board that the following individuals submitted applications for Louisiana Reciprocal Certificates to Practice. The Executive Director evaluated the applications and approved the Reciprocal Certificates to Practice, subject to ratification by the Board.

Upon motion by Mrs. Lowe-Ardoin, seconded by Mrs. Barnes and unanimously adopted, the Board ratified the issuance of the following Reciprocal Certificates to Practice (Item C):

Certificate 2008 Active Issue Orig. Name Number Control Number Date State Felecia A. Porée S25975 6690 June 12, 2008 TN Joseph A. Reagan B25976 6691 June 12, 2008 FL Kimberly Ann Reagan B25977 6692 June 12, 2008 FL Michael John Simon III S25991 6706 June 27, 2008 PA Martha Curtis Edley B25992 6720 July 3, 2008 NV John Wyatte Foard S25993 6721 July 3, 2008 TN Edward F. Lovill, Jr. B25994 6722 July 3, 2008 MD Gerard R. Adam S26014 6743 July 16, 2008 VA Tony J. Campbell S26015 6744 July 16, 2008 KS Carla Marie Joubert S26016 6745 July 16, 2008 TX

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D. Transfer of Grades for an Original LA Certificate to Practice (2)

The Executive Director informed the Board that the following individuals submitted applications for transfer of CPA examination grades to Louisiana for an original Louisiana CPA Certificate to Practice. The Executive Director evaluated and approved the applications, as to the individuals having met the residency, examination, educational, and experience requirements, and issued the Certificate to Practice, subject to ratification by the Board. Upon motion by Mrs. Barnes, seconded by Mrs. Cochran and unanimously adopted, the Board ratified the issuance of the following Certificates to Practice (Item D):

Certificate 2008 Active (L) Name Number Control Number Issue Date

Cheryl Alston Tyler 25971 6678 May 5, 2008 Joseph P. O’Brien 25995 6723 July 3, 2008 E. Applications for Certificate to Practice for Board Consideration

1. Application for Initial Certificate to Practice James J. Jarreau

The Board considered the experience documentation submitted by Mr. Jarreau. Upon motion by Mrs. Barnes, seconded by Mrs. Cochran and unanimously adopted,

the Board determined that Mr. Jarreau had met the experience requirements. The Executive Director was instructed to issue his CPA Certificate and assign a control number as follows:

JAMES J. JARREAU CERTIFICATE NO. 26017 ACTIVE CONTROL NO. 6746 2. Application for Initial Certificate to Practice Nanette G. McCready

The Board considered the experience documentation submitted by Mrs. McCready. Upon motion by Mrs. Lowe-Ardoin, seconded by Mr. Bruno and unanimously

adopted, the Board determined that Mrs. McCready had met the experience requirements. The Executive Director was instructed to issue her CPA Certificate and assign a control number as follows:

NANETTE G. McCREADY CERTIFICATE NO. 26018 ACTIVE CONTROL NO. 6747

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3. Application for Initial Certificate to Practice Angela Marie Menard

The Board considered the experience documentation submitted by Ms. Menard. Upon motion by Mrs. Barnes, seconded by Miss Honoré and unanimously adopted,

the Board disapproved Ms. Menard’s application due to lack of sufficient licensee supervision and lack of qualifying experience. Mr. Henderson will draft a letter advising Ms. Menard’s of the Board’s determination.

4. Application for Reinstatement to Active Certificate (License Reinstatement) Dawn D. Caballero

The Board considered the experience documentation submitted by Mrs. Caballero. Upon motion by Mrs. Barnes, seconded by Mrs. Lowe-Ardoin and unanimously

adopted, the Board determined that Mrs. Caballero had met the requirements for reinstatement. The Executive Director was instructed to reinstate her CPA Certificate as active and assign a control number as follows:

DAWN D. CABALLERO CERTIFICATE NO. 19968 INACTIVE STATUS NO. VOIDED 3054 ACTIVE CONTROL NO. 6748 5. Application for Reinstatement to Active Certificate (License Reinstatement) Mark Thomas Maher

The Board considered the experience documentation submitted by Mr. Maher.

Upon motion by Mrs. Lowe-Ardoin, seconded by Mrs. Barnes and unanimously adopted, the Board determined that Mr. Maher had met the requirements for reinstatement. The Executive Director was instructed to reinstate his CPA Certificate as active and assign a control number as follows:

MARK THOMAS MAHER CERTIFICATE NO. 20288 INACTIVE STATUS NO. VOIDED 3534 ACTIVE CONTROL NO. 6749 6. Application for Transfer of Grades for an Original Louisiana CPA Certificate Hatem A. Al-resheq

The Board considered the information and documentation submitted by Mr. Al-resheq. Upon motion by Mrs. Cochran, seconded by Mr. Bruno and unanimously

adopted, the Board disapproved Mr. Al-resheq’s application and determined that he must meet the 150 hour requirement, complete 24 hours in Accounting courses above the introductory level, complete the required business law courses, and obtain an analysis of his foreign transcript by Foreign Academic Credentials Service.

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July 22 - 23, 2008

VIII. CPA FIRM PERMITS AND RELATED ISSUES A. CPA Firm Permit Expirations Due to Non-renewal of CPA Certificate

The Executive Director informed the Board that the following Firm Permits were expired because the individual’s CPA Certificate was expired due to non-renewal. A Firm Permit cannot be held without a valid CPA Certificate. Accordingly, the Firms were notified by certified mail on May 13, 2008 that their Firm Permit had expired in accordance with LRS §37:77. (5 Firms):

Firm Name Firm Permit Number Samuel V. Stevens, III, CPA 1668 Anthony Tulli, CPA 1709 Ann M. Kinberger, CPA 2787 Stephen Vilac Mang, CPA 2877 Elaine Hudson Richard, CPA, APAC 3406 B. Reinstatements of CPA Firm Permits that Expired in 2008 The Executive Director informed the Board that the following CPA Firms, with expirations in 2008, reinstated their CPA Firm Permits since the April 2008 Board Meeting (5 Total): Firm Name Firm Permit Number Stephen Vilac Mang, CPA 2877 Jeff McKneely, CPA 3475 Griffin & Company, LLC, CPAs 4072 Chustz & Ryall, CPAs 4450 John H. Smith, CPA, LLC 4519 C. CPA Firm Permit Applications The Executive Director informed the Board that the following Firms submitted applications

for CPA Firm Permits. The Director of Administration and the Executive Director reviewed the applications and determined that the Firms satisfied all requirements. The Executive Director issued the Firm Permits, subject to Board ratification. Upon motion by Mrs. Barnes, seconded by Miss Honoré and unanimously adopted, the Board ratified the issuance of the following CPA Firm Permits (Items C 1, 2 and 3):

(continued on next page)

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1. New Firm Permits (21) Firm Name Firm Permit Number Issue Date L. Fred Monroe, Jr., CPA 4686 April 29, 2008 Blackwell & Staub, LLC 4687 May 8, 2008 David G. Simoneaux, Jr., CPA, LLC 4688 May 8, 2008 Randall K. Lege, CPA 4689 May 14, 2008 Gregory A. Jones, CPA 4690 May 29, 2008 John Kelly, CPA 4691 May 29, 2008 NDB Accountants & Consultants LLP 4692 May 29, 2008 Davidson, Golden & Lundy, PC 4693 May 29, 2008 Funchess, Mills, White & Co., PC 4694 May 29, 2008 Carol C. Cromwell, CPA 4695 June 8, 2008 Reagan & Reagan, CPAs, LLC 4696 June 10, 2008 Brian Gallagher, CPA, LLC 4697 June 27, 2008 Beal & Vollenweider, LLC 4698 June 27, 2008 Baumann & Company, PLLC 4699 June 27, 2008 Rickert & Company, LLC, CPAs 4700 June 27, 2008 Glass & Company, CPAs, PC 4701 July 3, 2008 Tiffany B. Jackson, CPA 4702 July 3, 2008 Svadlenak, See & Company, PC 4703 July 3, 2008 Janet Z. Bonaventure, CPA 4704 July 15, 2008 Horton, Lee, Burnett, Peacock, Cleveland & Grainger, PC 4705 July 15, 2008 Barnett Consulting, APC 4706 July 15, 2008 2. Reissuance of Firm Permits (Due to Change in Legal Entity) (3) Firm Name Firm Permit Number Issue Date Johnson Financial LLC 694 May 8, 2008 LaVerne Ford, CPA, LLC 4546 May 29, 2008 Crowe Horwath LLP 3791 July 15, 2008 3. Reinstatement of Firm Permits Expired In Prior Years (1) Firm Name Firm Permit Number Issue Date Chustz & Ryall, CPAs 4450 July 2, 2008 D. CPA Firm Name for Out of State Firm The Board considered the Firm Name of APMG – Asset & Profit Management Group, LLC, a Georgia CPA Firm that applied for a Firm Permit in Louisiana. After discussion, upon motion by Mrs. Barnes, seconded by Mr. Bruno and unanimously adopted, the Board disapproved the Firm Name as not in compliance with Louisiana’s Firm Name rules.

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IX. RECURRING MATTERS AND DEFERRED ITEMS A. Board Rules Committee a. Revisions to Peer Review Rules

Rules Committee Chair Mrs. Cochran reported that bills to make Peer Review accessible to the Board passed the legislature as was expected. The Rules Committee reviewed rules related to Peer Review and prepared a discussion draft. The draft of revised Peer Review rules was forwarded to the Board’s PROC Member Ron Updegraff for comments, and to LCPA Executive Director Mr. Hazel.

After discussion, the Board directed the Rules Committee to move forward with

the revisions to the rules concerning Peer Review. b. Revisions to Rules Concerning Renewals Mr. Henderson reported that changes to rules concerning annual renewals are

required in order to provide for online renewals of Certificates and Firm Permits. The Rules Committee approved beginning the rulemaking process for these revisions so that the changes could take effect by the renewal period beginning in November 2008 for the 2009 renewals. A draft of the proposed revisions was previously e-mailed to all Board Members.

Mr. Harris commented on the item concerning “reproduction of forms shall not be

accepted”. The reference to “reproduction of forms” was deleted and more appropriate language was substituted. The revised rules were reviewed by the Board.

Upon motion by Miss Honoré, seconded by Mrs. Barnes and unanimously adopted,

the Board approved as revised the revised rules concerning renewals.

B. Board Website Mr. Henderson discussed changes and additions to be made to the Board’s website.

C. NASBA Mr. Harris received a NASBA paper on the “120 hours to sit and 150 hours for licensing”

topic. The matter was discussed at the recent NASBA regional meetings. A copy of the NASBA paper was e-mailed to all Board Members on July 17, 2008.

D. Substantially Equivalent States - R.S. 37:94.A

At the April 2008 Board Meeting, the Board authorized Mr. Henderson to make determinations on expanding the number of states deemed to be substantially equivalent

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to Louisiana in licensing requirements. After reviewing requirements, Mr. Henderson determined that an additional 16 states and the District of Columbia are currently substantially equivalent, and that New York will be substantially equivalent in August of 2009 when its 150 hour educational requirement becomes effective.

Mr. Henderson reported that the following 42 jurisdictions are now deemed to be

substantially equivalent. The 16 states and District of Columbia recently added are bolded.

Alabama Maryland Oklahoma Alaska Massachusetts Oregon Arizona Michigan Pennsylvania Arkansas Minnesota Rhode Island Connecticut Mississippi South Carolina District of Columbia Missouri South Dakota Georgia Montana Tennessee Idaho Nebraska Texas Illinois Nevada Utah Indiana New Jersey Virginia Iowa New Mexico Washington Kansas North Carolina West Virginia Kentucky North Dakota Wisconsin Maine Ohio Wyoming

E. Report on Legislation - 2008 Session The Board reviewed information on legislation passed in the 2008 legislative session that may have an effect on Board Members or the operations of the Board.

F. Society of Louisiana CPAs (LCPA)

Grady R. Hazel, CPA, Executive Director of the LCPA, discussed matters of interest to the Board and the profession.

G. CPE - “Webcasts” and “Webinars

Diane Jones of the LCPA made a presentation to the Board on Webcasts and Webinars. After discussion, with input from Ms. Jones and Mr. Hazel, the Board revised certain rules concerning CPE, upon motion by Mrs. Cochran, seconded by Mrs. Barnes and unanimously adopted. Mr. Henderson will finalize the revisions and send to the LCPA for review.

H. CPE Question - IRS Phone Forums

The Board considered an inquiry from a licensee about the acceptability of IRS Phone Forums as CPE.

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I. Report on Practice Monitoring and Peer Review

1. Report by Peer Review Oversight Committee (PROC) Mr. Henderson reported that Mr. Updegraff of the PROC submitted a quarterly report on the AICPA Peer Review Program administered by the Society of Louisiana CPAs. The Peer Review acceptance subcommittee held one (1) telephone conference call from April 7, 2008 through July 6, 2008. There were no firms removed for non-cooperation reported.

X. NEW MATTERS A. 2009 Annual Renewal Forms and Fees

Mr. Henderson discussed the 2009 annual renewals, anticipating that online renewals will be in effect for the 2009 renewals. However, 2009 renewal forms will be printed in the event it is deemed necessary to mail forms and/or in the event that a printed renewal form will be available for those individuals who may not be able to renew online. The only changes planned to be made on the renewal forms will be changes in the dates.

B. Election of Officers and Appointment of Investigating Officers 1. Election of Officers

Chairman Mr. Tham announced that an election of Board Officers for the year

beginning August 1, 2008 is in order. Currently, Board Member Miss Honoré serves as Secretary and Board Member Mrs. Barnes serves as Treasurer. Upon nomination by Mrs. Cochran, seconded by Miss Honoré, Board Member Mrs. Lowe-Ardoin was elected to serve as Secretary of the Board. Upon nomination by Mrs. Cochran, seconded by Mrs. Barnes, Board Member Miss Honoré was elected to serve as Treasurer of the Board. Note: Subsequent to this Board Meeting, the Governor made two appointments to the Board. Another officer election will be held at the next Board Meeting.

2. Appointment of Investigating Officers

Chairman Mr. Tham appointed the following Board Members as Investigating

Officers for August 1, 2008 – July 31, 2009: Mrs. Barnes and Miss Honoré

Note: Subsequent to this Board Meeting, the Governor made two appointments to the Board. Another appointment for Investigating Officer will be made at the next Board Meeting.

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3. Resolution for Retiring Officers

Upon a motion by Mrs. Cochran, seconded by Mr. Harris, the Board unanimously approved a resolution expressing its thanks to the retiring officers for their dedicated service to the State Board.

RESOLUTION

THEREFORE, BE IT RESOLVED that the State Board of CPAs of Louisiana expresses it’s gratitude to the retiring officers for their dedicated service to the State Board for the year ended July 31, 2008.

C. Request for Re-scroll of Certificate Not Currently Registered Mr. Bruce Oken was issued Louisiana CPA Certificate No. 3362 in 1964. The last year Mr. Oken’s Certificate was registered with the Board was 1994. Mr. Oken is retired and currently resides in California. He recently contacted the Board’s office to request that his Certificate be rescrolled because his Certificate was destroyed in a fire. However, the normal policy is that a Certificate can only be reissued or rescrolled if the person is currently registered with the Board. The fees for Mr. Oken to reinstate to Inactive status total $250. Mr. Oken stated that he is retired and does not wish to reinstate. After discussion, the Board determined that Mr. Oken must reinstate his Inactive status registration to have his Certificate re-scrolled, but waived all reinstatement fees except the $20 renewal fee for 2008. Mr. Oken will also be required to pay the $50 Certificate rescrolling fee. XI. INFORMATION ITEMS AND ANNOUNCEMENTS A. Renewal Tabulations as of June 30, 2008

The Board reviewed information concerning CPA registrants as of June 30, 2008: Total CPAs: 6,681 Active Certificate holders (licensees) 3,507 Inactive Status registrants (unlicensed) 2 No current code 10,190 Total

This is a net decrease of 292 from June 30, 2007, as follows:

Increase of: 131 Active Certificate holders (licensees) Decrease of: 109 Inactive Status registrants (unlicensed) Decrease of: 310 Practice Rights holders (no longer applicable)

Decrease of: 4 No current code The Board also reviewed a schedule of registrants by employment code; schedule of Active CPAs in Louisiana and Out of State; schedule of Inactive Status registrants in

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July 22 - 23, 2008

Louisiana and out of State; Total counts of registered CPAs; and, Firm Permits registered by practice type.

B. State Travel Policies and Procedures – Fiscal Year 2008 - 2009 1. State Contracted Travel Agency

The Board was informed that Navigant (aka “Louisiana Travel Services” and “Carlson Wagonlit Travel”) remains as the state contracted travel agency.

2. Vehicle Mileage Rate The Board was informed that the mileage reimbursement rate was changed from $

.44 to $ .52 per mile as of July 1, 2008. 3. Copy of 2008 – 2009 Louisiana Travel Guide and Pocket Guide To Travel

Regulations A copy of the revised Louisiana Travel Guide (state travel regulations) and the

Pocket Guide to Travel Regulations was provided to all Board Members. XII. REPORTS ON CONFERENCES / MEETINGS A. Executive Director Meetings / Conference Calls Mr. Henderson has had meetings and/or conference calls in connection with the NASBA

CBT Administration Committee and the AICPA State Board Committee and Practice Analysis Group.

B. NASBA Exam Conference

May 19, 2008 Dallas, Texas Mrs. Barnes and Mr. Henderson attended.

C. NASBA Regional Meetings Western Regional Meeting June 18 – 20, 2008 Newport Beach, California Mr. Harris attended. Eastern Regional Meeting June 11 – 13, 2008 Asheville, North Carolina Mr. Harris attended.

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July 22 - 23, 2008

XIII. FUTURE MEETING / CONFERENCE DATES A NASBA 101st Annual Meeting October 26 - 29, 2008 Westin Copley Place Boston, Massachusetts XIV. UPCOMING BOARD OFFICE HOLIDAYS September 1, 2008 Labor Day XV. NEXT BOARD MEETING

Thursday November 6, 2008 Friday November 7, 2008 Afternoon of Wednesday, November 5, 2008, if necessary. XVI. EXECUTIVE SESSION MATTERS

In order to on the status of compliance with Board Decisions and Consent Orders and status of investigations; and, to address other executive session matters, an executive session was convened and called to order by Chairman Mr. Tham upon motions made, as follows: upon motion by Mrs. Lowe-Ardoin, seconded by Miss Honoré, the Board went into executive session on July 23, 2008 at 9:10 a.m. Out: Upon motion by Mrs. Lowe-Ardoin, seconded by Mr. Bruno, the executive session adjourned at 10:33 a.m.

A. Files Closed With No Cause For Action 1. File No. 07-05-138 2. File No. 07-12-161 3. File No. 08-01-01 Upon motion by Mrs. Lowe-Ardoin, seconded by Mrs. Barnes and unanimously adopted, the Board found no cause for action and officially closed the above files. B. Files Closed With No Cause For Further Action 1. File No. 07-02-30 2. File No. 05-06-11 Upon motion by Mrs. Cochran, seconded by Mr. Bruno and unanimously adopted, the Board found no cause for further action and officially closed the above files.

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July 22 - 23, 2008

C. Files Closed With Cautionary Statement to be Issued to Respondent 1. File No. 07-02-03 Upon motion by Mr. Harris, seconded by Mrs. Lowe-Ardoin and unanimously adopted, the Board authorized that the above file be closed with a cautionary statement to be issued to the Respondent in the close-out letter. D. Files Closed With the Stipulation that the Respondents’ Files Will Be Noted 1. File No. 07-02-17 2. File No. 07-03-94 Upon motion by Mrs. Barnes, seconded by Miss Honoré and unanimously adopted, the Board closed the above files with the stipulation that the Respondents’ CPA files will be noted that prior to reinstatement the Respondents will be required to address issues of failure to comply with the Consent Order and failure to respond to Board communications before reinstatement. E. Authorization To Issue Cease and Desist Order 1. File No. 06-08-20 Upon motion by Mr. Harris, seconded by Mrs. Cochran and unanimously adopted, the Board authorized the issuance of a Cease and Desist Order in the above file. F. Request to Remove Restrictions - Talmadge E. Mitchel, CPA Upon motion by Mr. Bruno, seconded by Mrs. Barnes and unanimously adopted, the Board approved Mr. Mitchel’s request to remove the restrictions on his Certificate / Firm Permit that previously provided that he refrain from performing audits or reviews, subject to Mr. Mitchel’s participation in Peer Review within 18 months as required under Peer Review rules. G. Acceptance of Reports Upon motion by Mrs. Cochran, seconded by Mrs. Lowe-Ardoin and unanimously adopted, the Board accepted the reports made by each respective Investigating Officer on the status of their investigative files and other reports on status of matters provided by Board staff.

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July 22 - 23, 2008

XVII. ADJOURNMENT Tuesday, July 22, 2008:

There being no further business to discuss, upon motion by Miss Honoré, seconded by Mrs. Cochran and unanimously adopted, the meeting adjourned at 5:03 p.m. on Tuesday, July 22, 2008.

Wednesday, July 23, 2008:

There being no further business to discuss, upon motion by Mrs. Barnes, seconded by Miss Honoré, and unanimously adopted, the meeting adjourned at 10:45 a.m. on Wednesday, July 23, 2008.

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