If you are interested in Women's Initiatives, My View on the CPA Industry, and Fraud with a Dose of Ethics, I invite you to read on.

Tuesday, August 31, 2010

CPA Impersonator Busted

Upon reading the the tweet posted on George Oluwaboro earlier this week I was instantly curious.  Who is this person that was accused of felony theft, falsely representing himself as a certified public accountant (CPA) and practicing as a CPA without a license in Maryland?  According to the Baltimore Sun Oluwaboro accepted money for performing an independent audit for a client.  The problem was, this client was smarter than Oluwaboro realized.  This client checked the Department of Labor and Licensing Website to ensure that Oluwaboro was in fact a licensed CPA in the State of Maryland.  When this client did not locate Oluwaboro's name on the website he then voiced this to Oluwaboro.  According to the DLLR website "After the client informed Oluwaboro that his name had failed to appear in a search of DLLR’s database of licensed CPA's, he maintained that while he would complete the work, a licensed CPA would approve and sign the final audit. The client filed a complaint with the Board of Public Accountancy, part of DLLR’s Division of Occupational and Professional Licensing. "  You can read the full news brief here. 

What is most upsetting about this is the fact of infringing on the public trust.  As CPA's we have a moral responsibility to serve the public in a manner that a prudent individual would find appropriate.  For someone to falsely represent themselves as a licensed CPA to the public is morally reprehensible.  If anyone is in the process of retaining a CPA take a moment to search their name on the appropriate state licensing website.  It is simple and will give you peace of mind. 

The proposed penalty is a fine and eleven years in prison.  At first the penalty may seem hefty, but not when you think about the severity of the violation. 

4 comments:

  1. Sharon, I understand you completely, however I just wanted to clarify that George Oluwaboro passed his CPA exams about 15 years.

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  2. regulation?yes, check?no nobody checks if a non-licensed person represents himself as a CPA. then why not just say I'm a CPA? Will they be caught? Kidding! How many has been caught in HISTORY?

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  3. A very great post!

    This post is quite interesting. Thanks for sharing!

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  4. Nice one here. very informative post for the company that seeking CPA employee for now.

    ReplyDelete