1. THE PUBLIC ACCOUNTING PROFESSION

2. A. WHAT IS A PROFESSION? l SPECIALIZED SKILL l OR BODY OF KNOWLEDGE l PUBLIC GOOD l ENTRANCE REQUIREMENTS l CONFIDENTIALITY l SELF-REGULATION

3. B. THE STATE BOARDS OF ACCOUNTANCY l NO NATIONAL REGULATION l REGULATION BY STATE l NASBA-AICPA EFFORT

4. C. THE VIRGINIA BOARD OF ACCOUNTANCY l PART OF DEPARTMENT OF COMMERCE l ALONG WITH BARBERS AND HAIRDRESSERS

5. C. THE VIRGINIA STATE BOARD OF ACCOUNTANCY l 3600 WEST BROAD STREET l RICHMOND, VIRGINIA 23230-4917 l Phone 804-367-8590 FAX 804-367-2474 l Web site http//www.state.va.us/dpor/boards.htm#Accounta ncy

6. C. VIRGINIA STATE BOARD OF ACCOUNTANCY l ESTABLISHES ENTRANCE REQUIREMENTS l ESTABLISHES RULES l ENFORCES RULES

7. ENTRANCE REQUIREMENTS l EDUCATION l CPA EXAM l EXPERIENCE l ETHICS EXAM

8. THE CPA EXAM l FOUR PARTS l ACCOUNTING l TAXATION AND REPORTING l AUDITING l BUSINESS LAW AND PROFESSIONAL ETHICS

9. THE CPA EXAM l PASSING - 75% l TAKE ALL FOUR PARTS l PASS TWO AND 50% IN OTHER PARTS

10. ENFORCES RULES l COMPLAINT l PRELIMINARY HEARING l HEARING l VERDICT l PUNISHMENTS

11. D. THE AICPA AND STATE SOCIETIES

12. E. THE AICPA l REPRESENTS PROFESSION - NATIONALLY l STANDARDS l EDUCATION l NETWORKING

13. THE AICPA P.O. Box 2206 Jersey City, New Jersey 07303- 2206 Phone 1-800-862-4272 Web site http://www.aicpa.org

14. F. VIRGINIA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS l REPRESENTS PROFESSION - STATE l STANDARDS l EDUCATION l NETWORKING

15. VSCPA P.O. Box 4620 Glen Allen, Virginia 23058- 4620 Phone 1-800-733-8272 FAX 804-272-1741 Web site www.vscpa.com

16. G. PUBLIC ACCOUNTING FIRMS l LARGE - INTERNATIONAL l LARGE - NATIONAL l REGIONAL l LOCAL

17. CPA FIRMS - FORM OF BUSINESS l PARTNERSHIPS l PROFESSIONAL CORPORATIONS l LLP’S

18. H. A PUBLIC ACCOUNTING FIRM l PARTNERS l MANAGERS l IN-CHARGES l STAFF

19. OTHER ISSUES l DIVERSITY l TURNOVER l PRESSURE