Depew, James - Baltimore, MD

As a result of an investigation of alleged violations of the Code of Professional Conduct of the Maryland Association of CPAs Professional Ethics Committee, Mr. Depew, with the firm of James A. Depew, CPA, PA, entered into a settlement agreement under the Joint Ethics Enforcement Program, effective January 26, 2015.

Information came to the attention of the Ethics Charging Authority (“ECA”) (comprised of the Maryland Association of CPAs Professional Ethics Committee) alleging a potential disciplinary matter with respect to Mr. Depew’s failure to ensure his firm obtained an appropriate peer review.

The ECA reviewed the allegations in the referral and information publicly available on the United States Department of Labor’s EFAST website and Mr. Depew’s responses to such findings as well as relevant documents submitted to support his response.  Based on this information, there appears to be prima facie evidence of a violation of Rule 501, Interpretation 5 – Failure to follow requirements of governmental bodies, commissions, or other regulatory agencies of the Maryland Association of CPAs’ Code of Professional Conduct as follows:

Rule 501, Interpretation 5 – Failure to Follow Requirements of Governmental Bodies, Commissions, and Other Regulatory Agencies

As the partner responsible for his firm’s peer review compliance, Mr. Depew failed to ensure it complied with state board requirements to undergo a peer review. 

Agreement:
In consideration of the ECA forgoing further investigation of Mr. Depew’s conduct as described above, and in consideration of the ECA forgoing any further proceedings in this matter, Mr. Depew agreed as follows:

a.    To waive his rights to further investigation of this matter in accordance 
       with the Joint Ethics Enforcement Program (JEEP) Manual of
       Procedures.
b.    To waive his rights to a hearing under the Maryland Association of CPAs 
       bylaw Article 14, Section 4.
c.    To neither admit nor deny the above specified charges.
d.    To his expulsion from membership in the Maryland Association of CPAs.
e.    That the ECA shall provide a copy of this settlement agreement to the 
       AICPA’s Peer Review Division staff, his peer review administering 
       entities and his firm’s peer reviewer.
f.    That the ECA shall publish his name, the name of his current firm, the 
       charges, and the terms of this settlement agreement.