In consideration of the AICPA foregoing a full investigation of his alleged misconduct, Mr. Emmer entered into a settlement agreement under the Joint Ethics Enforcement Program effective November 24, 2012. Under the settlement agreement, Mr. Emmer was admonished by the AICPA pursuant to a settlement entered into with the New Jersey State Board of Accountancy (“Board”) related to his failure to comply with the Board’s continuing professional education requirements for the period January 1, 2006 through December 31, 2008.