Yesterday, Broc Romanek wrote in his blog about the Public Company Accounting Oversight Board’s announcement of settled disciplinary actions against three accountants. In California, accountants are regulated by the California Board of Accountancy.
California’s Board currently regulates over 81,000 licensees, which the Board claims is the largest group of licensed accounting professionals in the nation. One would expect that as with any profession or group there are a few bad apples in that very large barrel. It turns out, however, that there are very few indeed. According to the Board, it issued only 26 disciplinary orders in 2010. That represents only .03% of the licensed population. Here’s the Board’s breakdown of its disciplinary orders...
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