Press Release

NEW CHAIRMAN AND VICE CHAIRMAN
July 1, 2005

RICHMOND - The Virginia Board of Accountancy (BOA) elected its officers for the forthcoming fiscal year including the chairman and vice chairman. The new officers will serve during the term beginning July 1, 2005 through June 30, 2006.

JANE M. LITTLE, CPA, CVA (inactive) has been elected, by unanimous vote, to chair the Virginia Board of Accountancy. Ms. Little will assume the leadership role on July 1, 2005. During the past year, she served as vice-chairman and was appointed to chair the Board's Enforcement Committee on which she has been a member for almost three years. Ms. Little graduated Magna Cum Laude from Emory & Henry College in 1992, with a degree in Economics. She was granted a CPA license in Virginia in 1994 and a CVA license in 1996. Ms. Little was appointed to the Board by Governor Warner on July 1, 2002, and will complete her first term on June 30, 2006. Ms. Little worked in public accounting providing services in tax, audit, consulting and litigation. Ms. Little currently works as Chief Financial Officer for Quin Rivers, a non-profit organization serving the counties of Charles City, New Kent, King & Queen, King William and Caroline in housing, domestic violence and community development. Ms. Little succeeds Harry D. Dickinson, Ph.D., CPA, whose term as chairman will end on June 30, 2005.

Ms. Little will be assisted by STEPHEN D. HOLTON, CPA, who was elected, by unanimous vote, to serve as vice-chairman. Mr. Holton is a stockholder in the firm of Martin, Dolan & Holton, Ltd. He has served as a member of the AICPA Auditing Standards Board and the Emerging Issues Task Force of the Financial Accounting Standards Board. Mr. Holton is chair of the Financial Instruments Task Force of the AICPA Auditing Standards Board and is a former chair of the AICPA Accounting and Review Services Committee and the VSCPA Accounting and Auditing Procedures Committee. He is the author or co-author of ten accounting and auditing practice books and a contributor to two additional accounting and auditing practice books.

The Virginia Board of Accountancy has 7 members representing the public, education, and accounting. The Board became a supervisory board and independent state agency effective July 1, 2001. The primary goals of the Board in seeking to become a state agency independent of the Department of Professional and Occupational Regulation were to: (i) provide more effective services to the public and the Board's regulants; and (ii) operate more efficiently in order to minimize the cost of regulation for the board's regulants.