Michael Savoy, CPA, CGMA, a senior shareholder of Santa Monica-based public accounting firm Gumbiner Savett Inc., has been elected Secretary/Treasurer of the California Board of Accountancy (CBA) for 2015/2016. In addition to Savoy, the CBA has elected Katrina Salazar, CPA as President, and Alicia Berhow as Vice President.
Savoy assumes his new position with over 40 years of experience in the accounting field and with over 5 years of experience serving on the CBA Board. Savoy was appointed to the CBA in 2010 by Governor Arnold Schwarzenegger and was elected Secretary/Treasurer in 2011/2012; Vice President in 2012/2013, and President in 2013/2014. Savoy was re-appointed to the CBA Board in 2015 by Governor Jerry Brown.
“I have been so honored to be a part of the CBA for the last five years,” stated Savoy. “I’m looking forward to my year as secretary/treasurer and in continuing to work with people dedicated to quality and transparency in the profession.”
Savoy has been with Gumbiner Savett Inc. since 1994 and has worked with privately held entities in apparel and textile, aerospace, importing, manufacturing and distribution, and real estate. With his vast experience in business related accounting and tax matters, Savoy has assisted numerous clients with litigation support, succession planning and exit strategies, tax planning and compliance, and restructuring and refinancing debt. He is an expert on employee stock ownership plans (ESOPs) and has often spoken for the CalCPA Educational Foundation on succession planning and exit strategies with an emphasis on ESOP’s. He has also worked with many Los Angeles based law firms as an expert witness in various litigation matters such as business interruption, damage and loss of earnings matters, partner and shareholder disputes, and misappropriations of funds by fiduciaries.
Savoy is involved with a number of professional organizations; he is on the Executive and Finance Committees and is a Board Member of the Los Angeles Chamber of Commerce; he is on the Americas Region Board, and the former Chairman of BKR International; and he is a member of the American Institute of Certified Public Accountants (AICPA), the California Society of Certified Public Accountants (CalCPA) and the Employee Stock Ownership Plan Association.
About the California Board of Accountancy
Created by statute in 1901, the California Board of Accountancy’s legal mandate is to regulate the accounting profession for the public interest by establishing and maintaining entry standards of qualification and conduct within the accounting profession, primarily through its authority to license.
In California, the accounting profession’s licensed practitioners are the Certified Public Accountant (CPA) and the Public Accountant (PA). The CBA currently regulates over 100,000 licensees, the largest group of licensed accounting professionals in the nation, including individuals, partnerships, and corporations.