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Business Meeting Minutes Tuesday, August 4, 2026 - State Board of Public Accountancy

Via Google Meets Teleconference

MEMBERS IN ATTENDANCE:
Jeff Wilson II, Chair
Michelle Sotka
Jeffrey Lawson
Kevin Harris

ABSENT MEMBER:
Joan Pratt

LABOR OFFICIALS/STAFF:
Christopher Dorsey, Executive Director
Robert Pambianco, Legal Counsel
Sharron McNeill, Office Supervisor
Shemirra Massie, Administrative Officer I

OTHERS PRESENT:
Rebekah Olson, MACPA
Kristin Rubin, MACPA
Kauser Syed

Approval of Minutes

The Board reviewed the June 4, 2026 meeting minutes. Upon a motion (I) by Ms. Sotka and seconded by Mr. Lawson, the Board unanimously voted to review the June meeting minutes during the September meeting.

Chairman’s Report

Chair Jeff Wilson welcomed newly appointed Board member Dr. Sylvia Anderson to the Maryland State Board of Public Accountancy and thanked her for volunteering her time and expertise in service to the State of Maryland and the Board.

Dr. Anderson introduced herself and provided a brief overview of her professional background, noting that she has more than 30 years of auditing experience with the federal government and has also served for many years as an adjunct faculty member at the University of Maryland Global Campus.

Chair Wilson reported that, since the Board's last meeting, he attended the National Association of State Boards of Accountancy (NASBA) Eastern Regional Meeting in June. This was his first opportunity to attend a NASBA meeting as Board Chair and provided an opportunity to engage with state board members and executive directors from across the Eastern Region and other jurisdictions.

Chair Wilson expressed his appreciation to the Eastern Regional leadership, particularly the Chair of the District of Columbia Board, for welcoming him and facilitating introductions to other state board representatives and executive directors. He noted that Maryland had limited representation at the meeting and encouraged additional Maryland Board members to participate in future NASBA conferences and regional meetings when possible.

Chair Wilson stated that the conference provided valuable insight into how other state boards operate and regulate the accounting profession within their respective jurisdictions. He highlighted several significant topics discussed during the meeting.

A major area of discussion involved Alternative Practice Structures (APS) and private equity (PE) investment in accounting firms. Chair Wilson explained that alternative practice structures themselves are not new to the profession and have historically been utilized by firms in various forms. However, the continued growth of private equity-backed alternative practice structures presents additional considerations, particularly regarding independence, regulatory oversight, and public protection.

The conference included discussion regarding the distinctions between traditional alternative practice structures and those involving private equity investment, as well as how these business models continue to evolve. Chair Wilson noted that, as these structures become more prevalent, state boards and regulators will need to continue evaluating whether existing regulatory frameworks adequately address the associated risks and protect the public interest.

Chair Wilson further reported that some state boards are beginning to gather information regarding the number of private equity-backed alternative practice structures operating within their jurisdictions. In certain states, questions are being incorporated into the license renewal process to assist regulators in identifying these arrangements and assessing their potential regulatory impact.

Although no immediate policy recommendations resulted from the regional meeting, Chair Wilson indicated that APS and private equity involvement remain significant topics for continued monitoring and discussion.

Chair Wilson also emphasized the growing importance of collaboration among state boards, particularly as accounting firms and business structures increasingly operate across state lines. As CPA mobility continues to be a priority within the profession, increased coordination among state boards may become necessary to promote effective regulation while maintaining appropriate public protections.

Additional discussions during the conference addressed the Uniform Accountancy Act (UAA) and the importance of maintaining reasonable consistency among states in the regulation of the accounting profession. Chair Wilson noted that greater regulatory consistency can facilitate CPA mobility and reduce unnecessary differences in requirements when licensees practice or relocate across jurisdictions.

Other sessions addressed the continued evolution of Continuing Professional Education (CPE), technology, artificial intelligence, professional standards, and regulatory practices. Chair Wilson observed that technological developments, including artificial intelligence, continue to advance rapidly and present challenges for regulators and the profession. However, he expressed confidence that NASBA, state boards, and other professional organizations are actively evaluating these developments and working to ensure that professional standards and regulations continue to evolve accordingly.

Chair Wilson concluded that his primary takeaway from the regional meeting was that the accounting profession and its regulatory framework are continuing to evolve rather than remaining stagnant. He stated that NASBA continues to study emerging issues affecting the profession and that he will keep the Board informed of future developments, recommendations, or regulatory matters that may affect Maryland licensees or the Board's responsibility to protect the public.

Executive Director’s Report

None

Exam Appeals

There were zero (0) Exam Appeals.

Committee Reports

The Board reviewed the following committee reports for July 2026:

  • Transfer Grade Approvals:
    • 4
  • Transfer Grade Denials:
    • 0

Licensing (Experience) Committee – May

  • Original License Applications:
    • 19 approved
    • 0 denied
  • Reciprocal License Applications:
    • 7 approved
      • Virginia – 4
      • New Jersey – 1
      • DC-1
      • Pennsylvania -1
    • 0 denied
  • 6 firm permits approved
  • 0 firm closed

Peer Review

  • 4 newly enrolled firms
  • 10 peer reviews accepted
  • 2 first-time passes with deficiencies
  • 0 first-time failures
  • 7 firm dropped or terminated

Upon a motion (II) Mr. Harris and seconded by Mr. Lawson, the Board unanimously approved the committee reports as presented.

Unfinished Business

AICPA PEEC Exposure Draft – Alternative Practice Structures

The Board continued to monitor the NASBA and AICPA Professional Ethics Executive Committee (PEEC) Exposure Draft on Alternative Practice Structures as an ongoing agenda item. The Chair noted that the item remains on the Board's docket for continued observation and that there were no new developments requiring discussion at this time. No Board members requested further discussion, and no action was taken.

New Business

Board member Michelle Sotka provided an update regarding the Board's proposed October 6 meeting at Howard Community College (HCC). She reported that the large meeting room in Duncan Hall, where business classes are typically held, has been reserved for the Board's use.

Ms. Sotka stated that the Board had previously discussed holding its October meeting at HCC, followed by a student engagement event. She also reported that she has been coordinating with HCC representatives and that arrangements are being made for a speaker to meet with students following the Board meeting. Several components of the event are currently being finalized.

Chair Jeff Wilson confirmed that, if held at Howard Community College, the Board meeting would take place on October 6. The Board briefly discussed the proposed meeting location and student outreach event. No formal action was taken.

Correspondence

None.

MACPA Report to the Board

Rebekah Olson

Rebekah Brown Olson, Chief Executive Officer of the Maryland Association of Certified Public Accountants (MACPA), welcomed newly appointed Board member Dr. Sylvia Anderson and thanked her for her service. Ms. Olson also introduced Kristen, MACPA's new Director of Government Affairs, who recently joined the organization following the retirement of Mary Beth after more than 30 years of service. Ms. Olson noted that efforts have been made to ensure a smooth transition and expressed appreciation for the Board's support in welcoming Kristen to her new role.

Ms. Olson reported that MACPA has expanded its Emerging Professionals Membership following the success of its pilot program. The membership is designed to provide CPA candidates with a more structured onboarding experience through mentoring, CPA examination support, and professional development opportunities. She noted that MACPA hopes to partner with the Board in the future by inviting Board members to speak with CPA candidates about the licensure process, the Board's regulatory responsibilities, and the importance of public protection.

Ms. Olson also provided an update on MACPA's student outreach initiatives. She reported attending the Beta Alpha Psi National Meeting held in Baltimore, where she met with accounting students and discussed the CPA profession, career opportunities, and the important role of state boards of accountancy. She further announced that MACPA's Student Leadership Academy will be held at the University of Baltimore, continuing the organization's practice of rotating the event among institutions across the State. Approximately 35 students have already registered, reflecting strong interest and continued efforts to strengthen Maryland's accounting pipeline.

Ms. Olson reminded the Board that the MACPA CPA Swearing-In Ceremony is scheduled for November 18 at Martin's West. She noted that the ceremony will recognize Maryland's newest CPAs and that formal invitations will be provided to Board members.

At the request of Chair Jeff Wilson, Ms. Olson also highlighted MACPA's recent 125th Anniversary Celebration, noting that the event recognized the organization's longstanding contributions to the accounting profession in Maryland and celebrated its continued commitment to supporting CPAs and advancing the profession throughout the State.

Public Questions and Comments

None.

Closed Session

Upon a motion (III) by Mr. Lawson and seconded by Ms. Sotka, the Board voted to move into closed session at 9:33 am via a Google Meets teleconference, where log-in information was only provided to Board members and staff.

Persons present: Wilson II, Lawson, Sotka, Anderson, and Harris (members), as well as Dorsey, McNeill, and Massie (Staff), and Pambianco (counsel).

Topics of Discussion: application disclosure, minutes of the June closed session, and complaint committee report. Actions taken: the Board voted to postpone approval of the minutes, approve the complaint committee report, and seek more information on an application.

Return to Open Session

Upon a motion (IV) by Mr. Lawson and seconded by Ms. Sotka, the Board unanimously approved the motion made during the Closed Session to table the Executive Session Item until the September 1, 2026 meeting.

Upon a motion (V) by Mr. Harris and seconded by Ms. Sotka, the Board adjourned the meeting at 10:04AM

NEXT MEETING:
Tuesday, September 1, 2026
Via Google Meets teleconferencing at 9:00 a.m.
_________ With corrections ____x____ Without corrections

Signature on file 9/4/2026
________________ ________________
Chairman Date