Cpamerica Inc

“The organization amended its bylaws on may 31, 2024. Significant changes include the following: 1. Updated the geographical location evaluation requirement of applicant firms to follow the "recommended guidelines for membership development and expansion" as approved by the board of directors on january 19, 2024. 2. Updated the membership termination specifications: a member firm may be issued a written warning (email acceptable) by the board of directors of possible termination. The warning will begin a cure period to allow the firm adequate time to rectify the situation. In the event the firm is unable or unwilling to rectify the situation within the provided cure period, then, upon the recommendation of the board of directors and a subsequent majority vote in favor of termination by the council of members, the member will be terminated effective at the end of the month during which the vote is taken. 3. Updated the notice requirements for mergers: a member that merges with or is acquired by a firm other than another cpamerica member, shall give notice of the firm's primary location within thirty days of the merger or acquisition for the purposes of establishing its headquarters location. If the location is already the primary location of another existing cpamerica member firm, it shall be at the discretion of the board of directors to allow for more than one member firm's primary location. This does not apply to top 10 major metros where multiple primary locations may exist.”

“The organization has members. The members are accounting firms located throughout the country.”

“The members elect a board of directors each year.”

“There are decisions made by the governing body which are subject to approval by the members.”

“Management and the board of directors review the tax return before it is filed.”

“The organization has their officers and directors sign conflict of interest waivers which state that notice of the special interest or relationship be reported to the employee's supervisor or, in the case of a director, to the chairperson of both the board and the audit committee. The interested director is further required to recuse her/himself from discussing or voting on the particular transaction in which she/he has an interest.”

“The process for determining the president's salary is performed each january at the regularly scheduled director's review. All discussions of performance and compensation are in the executive sessions of the board of directors and disclosed annually in the executive session of the association's annual business meeting to include the council of members.”

“The governing documents, conflict of interest policy, and financial statements are not made available to the public.”