Portnoy, Jay Robert of Jacksonville, FL

As a result of an investigation of alleged violations of the Code of Professional Conduct of the AICPA, Mr. Portnoy, with the firm of Portnoy CPA, P.A., entered into a settlement agreement under the Joint Ethics Enforcement Program effective July 19, 2016.

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

The ECA reviewed the allegations in the referral and Mr. Portnoy’s responses to such allegations.  The ECA charged Mr. Portnoy with violations of the AICPA Code of Professional Conduct as follows:

Rule 501 – Acts Discreditable

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


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

  1. To waive his right to a hearing under AICPA bylaws section 7.4.

  2. To neither admit nor deny the above specified charges.

  3. To his expulsion from membership in the AICPA.

  4. That the ECA shall publish his name, the name of his firm, the charges, and the terms of this settlement agreement.