The June 29 meeting of the Virginia Board of Accountancy (VBOA) marked the end of an era as O. Whitfield "Whit" Broome, CPA, Ph.D., and Steve Holton, CPA, finished their second terms on the Board.
The two VSCPA members sat on the Board during a time of significant change to the CPA profession and served CPAs and the Commonwealth with a steady hand.
Broome and Holton joined the VBOA during a turbulent time, and the pair and their fellow Board members decided upon a series of measured regulatory changes.
"It has been an incredibly satisfying experience for me," Broome said.
"It was my good fortune to be on the Board during a time of great progress, and I am pleased with the VBOA's accomplishments.
One reason for this progress has been the excellent professionals on the Board who were willing to work together harmoniously to achieve important goals."
The VBOA and the VSCPA
honored Broome and Holton
at their final meeting.
, in contrast, has spent his
career in the field.
A partner at Martin, Dolan & Holton in Richmond, he has served as an auditor at several firms and spent four years on the American Institute of CPAs (AICPA) Auditing Standards Board.
"I am deeply grateful to have had the opportunity to serve on the Virginia Board of Accountancy
During their tenure, Broome and Holton
helped spearhead an effort near and dear to the VSCPA
- practice mobility.
Virginia instituted mobility in 1999, and the pair helped the VBOA
maintain its unwavering resolve to maintain mobility provisions.
Both members were heavily involved in the reduction of the education requirement for sitting for the CPA Exam to 120 hours while maintaining the 150-hour requirement for licensure.
The reduction helped Virginia remain competitive with nearby states with the same requirement.
Broome and Holton
also helped bring about the formation of the VBOA's
Peer Review Oversight Committee (PROC) and ensured it would operate in a transparent, independent fashion.
They took the lead in ensuring the VBOA
operated under those same principles, maintaining its independence outside of an umbrella regulatory agency.
also launched a new, more functional website in 2010, ending a lengthy project by Broome, Holton
and other members to help enhance the Board's online presence.
Broome and Holton served the VBOA with the best interests of Virginia CPAs in mind.
and the VSCPA
, and the relationship between the two, are stronger for their involvement.
joins the VBOA and the McDonnell
administration in saluting Whit Broome and Steve Holton
for their dedicated service to the Board and the profession.