August 21, 2018

California CPAs to be More Ethical Starting in 2010

Thumbnail image for ethics.jpgThe California Board of Accountancy is ringing in the New Year with some increased requirements for California CPAs including additional ethics training to maintain an active status.
With so much unethical behavior in the world today, the CBA figured a few more hours of CPE will straighten you all out:

CBA president Manuel Ramirez said the regulation changes are part of an increased focus by the CBA on ethics and education. “I believe the newly approved continuing education requirements are an important step to increasing the CBA’s consumer protection mandate, while also reestablishing CPAs’ reputations as one of the most ethical professions in the country,” he said in a statement.

Not only will California have the most ethical CPAs in all the land but the CBA is jumping on the transparency bandwagon by broadcasting its future meetings via webcast. This will “give both consumers and CBA licensees a ‘window’ into important issues and how decisions are made.” Prior to this ‘window’, anyone wanting to observe a meeting had to attend — GASP — in person. One can safely assume that the CBA’s decision was partly due to realizing that webcasts would save them the embarrassment of A) a near empty meeting and B) those in attendance snoozing through the whole thing.
California Toughens Requirements for Accountants [Web CPA]
Other California CPA News:
CalCPA Is Doing About Everything It Can to Motivate You to Reactivate Your CPA
Arnie Signs 150-Hour Rule for California

Thumbnail image for ethics.jpgThe California Board of Accountancy is ringing in the New Year with some increased requirements for California CPAs including additional ethics training to maintain an active status.
With so much unethical behavior in the world today, the CBA figured a few more hours of CPE will straighten you all out:

CBA president Manuel Ramirez said the regulation changes are part of an increased focus by the CBA on ethics and education. “I believe the newly approved continuing education requirements are an important step to increasing the CBA’s consumer protection mandate, while also reestablishing CPAs’ reputations as one of the most ethical professions in the country,” he said in a statement.

Not only will California have the most ethical CPAs in all the land but the CBA is jumping on the transparency bandwagon by broadcasting its future meetings via webcast. This will “give both consumers and CBA licensees a ‘window’ into important issues and how decisions are made.” Prior to this ‘window’, anyone wanting to observe a meeting had to attend — GASP — in person. One can safely assume that the CBA’s decision was partly due to realizing that webcasts would save them the embarrassment of A) a near empty meeting and B) those in attendance snoozing through the whole thing.
California Toughens Requirements for Accountants [Web CPA]
Other California CPA News:
CalCPA Is Doing About Everything It Can to Motivate You to Reactivate Your CPA
Arnie Signs 150-Hour Rule for California

Related articles

Arnie Signs 150-Hour Rule for California

arnold.jpgNo one panic, if you get licensed before 2014, you’re grandfathered in as substantially equivalent. So if you feel like procrastinating, don’t let us stop you but maybe keep the date in mind.
In addition to the new credit hour requirements, Ah-nuld also signed bills requiring mandatory peer review for CPA firms starting next year and requiring non-active CPAs to disclose their status. We thought those were both standard operating procedure but a couple more laws won’t hurt anything.
If you can’t bear the thought of 25-30 extra credit hours in college, move to Colorado, Puerto Rico, or the Virgin Islands as they’re the holdouts on the 150 credit-hour requirement.
California Adopts 150-Hour Rule [Web CPA]

Millionaires Are Getting Hated On in California

Thumbnail image for california.jpgThese days the rich get hated on pretty much everywhere but millionaires in California have extra room to bitch now. The California Court of Appeals has rejected a taxpayer’s challenge to Proposition 63, “which imposed a 1% tax on annual incomes in excess of $1 million to fund state mental health services”.
The plaintiffs were claiming that they (and their fellow millionaires) were singled out: “In [the plaintiff’s] view, wealthy individuals are singled out to bear the burden of a public expense, while others are excused from that burden.” Yeah, non-millionaires. You mind chipping in?
Plus, the plaintiffs don’t really see the how their money and helping non-millionaire crazy people are even connected. From Jensen v. California Franchise Tax Board:

In this instance, the Taxpayers object that individuals with high incomes do not have a particular need or use for the mental health services funded by Proposition 63, i.e., there is not connection ‘between the group being assessed and the use of the funds collected.’ The argument fails, because there is no need to contrive a link between the taxpayer and the services being funded.

So apparently just because you’re a lunatic millionaire and can afford private mental health services doesn’t mean you get out of funding state-run mental health services. According to the court, millionaires need to help out the crazies that can’t afford to go to fancy-schmancy hospitals regardless of the lack of relevance.
Oh, and btw, the Plaintiffs are the real victims here, “The Taxpayers perceive themselves as victims of a populist movement to ‘soak the rich.'” How would you feel if you were a victim of a populist movement? People with torches and pitchforks outside your house. Nightmare. Think about the what the millionaires are going through, people.
California Court Upholds 1% Tax on Millionaires [TaxProf Blog]