Thursday, January 7, 2010

Response To "Licensed CPA"

The other day, we had, once again, an anonymous commenter take aim at Larry Rezentes' credentials as a Certified Public Accountant. The following is Mr. Rezentes' response to this latest, unwarranted attack:


My background was posted on this blog a number of months ago, with a link to that posting kindly provided yesterday by Sandra Guynn. I suggest that our "Licensed CPA" read it.

As noted in my prior response, I am a CPA, and maintain my license in Texas, where I first became certified, and have for the last 34 years. I do so, as does apparently our “Licensed CPA”, by meeting my required annual 40 hours of Continuing Professional Education, and payment of an annual license fee. As I also mentioned in my prior response, I am a member of the American Institute of Certified Public Accountants and have been a member for the last 14 years. Obviously, to be a member of the AICPA one must be a Certified Public Accountant.

One thing we may infer is that our “Licensed CPA” is unaware that Montana is among 39 other states, including Texas, that have passed mobility legislation providing reciprocal recognition to CPAs from other states. Such legislation has been enacted in recognition of the uniform exam we take to become CPAs, together with, in almost all cases, identical Continuing Professional Education requirements. As my practice as a CPA is in my employment with the U.S. Department of Justice, Office of the U.S. Trustee, however, I have no need or requirement to be licensed in the State of Montana. I do not engage in the practice of public accounting and never have in the State of Montana.

Our “Licensed CPA’s” petty and patronizing assessment and resentment to the contrary, I challenge him or her to compare credentials to mine. I am not impressed by their petty resentment of my use of the credential that I have held for well-nigh thirty-five years. Yes, as they indicate, I am well able to analyze financial statements to assess the financial results of businesses. That comes from my educational background with an undergraduate degree in accounting from Fairleigh Dickinson University, an M.B.A. in finance from the University of Chicago Graduate School of Business; followed by three years in public accounting with Arthur Andersen; and then two years as Senior Financial Analyst for Friedrich Air Conditioners. A 25 year career followed that as CFO in public, venture capital and private equity financed businesses. These included businesses in both high-growth and turnaround settings. I have served as CFO of two businesses in chapter 11 bankruptcy. This, of course, is now abetted for the last 5 years initially assessing, and then monitoring, all chapter 11 bankruptcies filed in the State of Montana. I also was active for 15 months prior to that in participating in the liquidation of Touch America, working with Protiviti. I possess hands-on CFO experience in multiple industries; including manufacturing, retail, high-technology, medical technology, telecommunications, e-learning, and support services; with one experience in such a role for two years on-site overseas in the Middle East. As shown above, yes, I also am a CPA.

And what do we know about you, “Licensed CPA” that qualifies you to judge my credentials? You have chosen to hide behind the anonymity provided in the blogosphere.

Lawrence C. Rezentes, CPA


DC Watcher said...

Thanks for presenting your professional background Mr. Rezentes, time for Southern/SME
to show it's accounting credentials and show transparency with our public funds, which they

A Taxpayer said...

Very impressive Mr. Resentez, it is too bad that our city hall leadership does not and/or will not listen to your FREE EXPERT advice. They persist in paying for much less credibilities the likes of which advise the bankrupt and nearly defunct ECP Board. Lets hope the new commission understands this?

Anonymous said...

Balzarini crapped on John Gilbert when he tried to get the truth, and no wonder he resigned, especially when he was in ill-health. He tried but all the other board members kept their
head in the sand........