Everything you wanted to know
 about CPA SEA & State CPA
       CPA-SEA
           Societies
        But were afraid to as...
CPA-SEA is the network
CPA-
                            CPA-SEA
    Our Purpose

         “to assist our members to achieve
          to
    
 ...
CPA-
           CPA-SEA Leadership

                              Erin Hardwick - SC
    Tom Hood - MD         

       ...
CPA- SEA 2007-2008
                       MEETINGS             COLLABORATION



            COMUNICATION                  ...
Mega-trends
1. Regulations &
1R      l ti
   Standards
                   Economic Meltdown
2. Globalization
             ...
What the world would miss if we
were gone?
• We keep the CPA Profession up with the
                                 p ith...
Keeping up with the CPA Profession
the basic physical and organizational
      structures needed for the operation of a
               society or enterprise
...
Meet Bill… Managing Partner
                             • Bill’s firm files tax returns in
                             9...
CPA Mobility Legislative Activity 2009



                       WA
                                                      ...
What is under the CPA Profession?
Federal Laws & Regulations – SEC,
  DOL, Treasury, GAO, PCAOB

   CPA Profession Standards – AICPA
   & FASB, GASB FASAB, ...
Another View
              Public Company   Private Company    Int’l Company


                  SEC                      ...
Peer Review - Your firm license
depends on it
US Treasury




MD Comptroller
 MD Comptroller




MD Comptroller




                                                    ...
The Obama Cabinet
The year of the REGULATOR




 Timothy Geithner,        Paul Volcker,    Mary Schapiro,
  Secretary of t...
First PCAOB now FAOB?




   New 5 member oversight board
        d by Congress – M h 6th,
 proposed b C           March
 ...
Leadership Pipeline




 Ernie Almonte – AICPA Chair came from Rhode Island as past
 president – most AICPA Chairs, Board ...
Pipeline - Good News
                   p
                                                            20% avg increase in
...
Promoting the CPA Career –
Maryland example




                          New/Youngg
   Tomorrows
                        ...
Four Generations in the Workplace
                Issue: Generational Differences



•   Matures – 1909-45
•   Boomers – 1...
Biggest Issue Facing NYPNs
 • Bridging the Gap between college & real world
 • Under Developed Skill Sets
   Under-Develop...
What you can do to p o o e the
  a      ca      o promote e
CPA?
• Understand the “new” CPA Exam
• Encourage MACPA candida...
Meet the New Young Professionals
Remember when you were ‘made’ to be a
                          made’
member of your Stat...
Protecting the CPA Image &
         g            g
Reputation
• Remember Enron & WorldCom?

Public Relations and Image pro...
Perceptions of CPAs Largely
                                      Consistent Across All Audiences
Rank
            BDMs La...
Image is better than pre-Enron highs
Financial Literacy




            www.feedthepig.org
         www.360financialliteracy.org
Connectors to Resources
C     t    tR
Seven Keys to Success in CPA Firm Management

1. Leadership
2.
2 Technology
3. Learning Organization
4. M k ti
4 Marketing...
Firm Opportunities in these
turbulent times

• Talent acquisition
• Succession planning
• Strengthen value-added relations...
Competencies Needed
Another example of the power of the AICPA & State CPA
Societies working together – the CPA Vision iden...
Critical
                                    Turning
                                     Point




Courtesy of the Busine...
Connect – Protect - Achieve!
                        “Association members
                         Association
           ...
Tom Hood, CPA.CITP               Betsy Adrian
            CEO                       President
Maryland Association of CPAs...
Everything You Wanted To Know About Cpa Sea & State Cpa Societies
Everything You Wanted To Know About Cpa Sea & State Cpa Societies
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Everything You Wanted To Know About Cpa Sea & State Cpa Societies

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Presentation about CPA-SEA & State CPA Societies to the AAA Association for Accounting Administration in Chicago on May 4, 2009

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Everything You Wanted To Know About Cpa Sea & State Cpa Societies

  1. 1. Everything you wanted to know about CPA SEA & State CPA CPA-SEA Societies But were afraid to ask Tom Hood, CPA.CITP - President Hood CPA CITP Betsy Adrian – President-elect CPA – SEA CPA State Executives Association
  2. 2. CPA-SEA is the network
  3. 3. CPA- CPA-SEA Our Purpose  “to assist our members to achieve to  operational excellence in the management of their organizations and provide a forum for networking p g & communication to enable members to choose informed courses of action on professional issues facing CPAs” Our Values:  Leadership   Integrity  Collaboration  Exploration
  4. 4. CPA- CPA-SEA Leadership Erin Hardwick - SC Tom Hood - MD   Dennis Tomorsky - WI Betsy Adrian - MN y   Loretta Doon - CA Kathy Anderson - FL   Deb Riley - VT Rich Jones - WA   Ralph Thomas - NJ Laura Coome - SD  
  5. 5. CPA- SEA 2007-2008 MEETINGS COLLABORATION COMUNICATION RELATIONSHIPS CPA/SEA ASSISTS ITS MEMBERS TO ACHIEVE EXCELLENCE IN THE MANAGEMENT OF THEIR ORGANIZATIONS AND PROVIDES A FORUM FOR NETWORKING AND COMMUNICATION TO ENABLE MEMBERS BOARD CULTURE TO CHOOSE INFORMED COURSES OF ACTION ON PROFESSIONAL ISSUES ACTION AFFECTING CPAs 6. AICPA Relations 5. 5 SEA Leadership Dev. Ld hi D 4. Peer Review 3. Mobility – Leg/Reg Advocacy 2. Strategic relationships g p 1. Emerging Issues BOLD STEPS CORE VALUES INTEGRITY LEADERSHIP COLLABORATION EXPLORATION 5
  6. 6. Mega-trends 1. Regulations & 1R l ti Standards Economic Meltdown 2. Globalization – More Government 3. Workforce – Less Leverage 4. Technology /Credit Crunch
  7. 7. What the world would miss if we were gone? • We keep the CPA Profession up with the p ith rapidly changing environment • We are bridge builders – taking care of the CPA Profession’s infrastructure • We are the leadership development pipeline for the CPA Profession • We protect the CPA reputation & image • We are the connectors of the Profession – connecting to key resources
  8. 8. Keeping up with the CPA Profession
  9. 9. the basic physical and organizational structures needed for the operation of a society or enterprise it t i State CPA Societies built and maintain the critical infrastructure for the CPA profession – the laws & regulations which grant the rights to practice Certified Public Accountancy CPA-SEA supports that through our network of State CPA society executives and the AICPA and our critical relationships
  10. 10. Meet Bill… Managing Partner • Bill’s firm files tax returns in 9 states + Maryland • Last year he would have required additional state licenses in all states (except OH, VA, MO, WI) • He would have had to register all of his tax CPAs and staff as a tax advisor (est $250 apiece) • He would have to report to two state boards with different CPE requirements What would this cost you? • H would h He ld have h d t had to charge & collect sales taxes on his accounting & tax services
  11. 11. CPA Mobility Legislative Activity 2009 WA VT ME MT ND MN OR NH ID WI SD MA NY WY MI CT RI IA PA NE NV NJ UT OH DE IN IL WV CO CA VA MD KS MO KY DC NC AZ TN OK AR SC NM MS AL GA AK TX LA PR HI FL GU V 2009 -2010 Anticipated Legislative Mobility Enacted - 37 Activity Legislation Introduced - 8 No Formal Activity Mobility Enacted Only for Other Mobility States -2 (GA PA) AICPA March 2009
  12. 12. What is under the CPA Profession?
  13. 13. Federal Laws & Regulations – SEC, DOL, Treasury, GAO, PCAOB CPA Profession Standards – AICPA & FASB, GASB FASAB, IASB, IFAC FASB GASB, FASAB IASB State CPA Statutes police power of the states to protect their citizens vs commerce clause
  14. 14. Another View Public Company Private Company Int’l Company SEC IASB Financial FASB S Reporting FASB IFRS Attest AICPA PCAOB IAASB Performance Standards ASB Code of AICPA AICPA IFAC Conduct PEEC PEEC CPA State Oversight & Enforcement of CPA License Licensure
  15. 15. Peer Review - Your firm license depends on it
  16. 16. US Treasury MD Comptroller MD Comptroller MD Comptroller CAQ Courtesy of the Maryland Association of CPAs – 2008 edition Drawing by Carol Kirwan, CPA
  17. 17. The Obama Cabinet The year of the REGULATOR Timothy Geithner, Paul Volcker, Mary Schapiro, Secretary of the Chair, Economic Recovery SEC Chief Treasuryy Advisory Board y Gary Gensler Gar Gensler, Ben Bernanke, Sheila Bair, Chair, Federal Chair, Commodity Futures Chair, FDIC Trading Commission Reserve Board
  18. 18. First PCAOB now FAOB? New 5 member oversight board d by Congress – M h 6th, proposed b C March 2009
  19. 19. Leadership Pipeline Ernie Almonte – AICPA Chair came from Rhode Island as past president – most AICPA Chairs, Board members, and Council members had their start in State CPA Societies
  20. 20. Pipeline - Good News p 20% avg increase in Graduates & enrollments! Increases in CPA pipeline involved a multi-year collaboration on student recruitment between State CPA Societies & AICPA
  21. 21. Promoting the CPA Career – Maryland example New/Youngg Tomorrows Professionals MACPA CPA.org Network Most state societies have similar programs to onboard students into the Profession
  22. 22. Four Generations in the Workplace Issue: Generational Differences • Matures – 1909-45 • Boomers – 1946-64 • Gen X – 1965-80 • Millennials - 1981 + up (Y2K, Netgen, Echo-boom, Gen Y) Which one are you?
  23. 23. Biggest Issue Facing NYPNs • Bridging the Gap between college & real world • Under Developed Skill Sets Under-Developed – Leadership & Communication – Time Management & Organization – Analytical Skills – Technical Skills • Work-Life Balance • Limited Networking Opportunities • Intimidation • CPA Exam • Lack of a Voice in Profession
  24. 24. What you can do to p o o e the a ca o promote e CPA? • Understand the “new” CPA Exam • Encourage MACPA candidate membership b hi • Use CPA Exam tracking tool to track employees progress • Support the swearing-in ceremony • C t / reinforce firm/company culture Create if fi / lt that celebrates CPAs
  25. 25. Meet the New Young Professionals Remember when you were ‘made’ to be a made’ member of your State Society & AICPA? According to the William E. Smith study of Association value: Benefits to the professionals and their employers include higher morale, increased employer loyalty, networking, professional development, leadership experience, professional community and big-picture thinking.
  26. 26. Protecting the CPA Image & g g Reputation • Remember Enron & WorldCom? Public Relations and Image protection are both a major focus and great example of State CPA Societies and the AICPA working together for the benefit of the entire CPA Profession
  27. 27. Perceptions of CPAs Largely Consistent Across All Audiences Rank BDMs Large Biz BDMs Sm-Med Biz Investors CPAs YPs 1 Has integrity Competent Competent Has integrity Competent 2 Competent Has integrity Has integrity Competent Has integrity Able to synthesize Able to synthesize 3 information from multiple Objective Objective Objective information from multiple sources sources Able to synthesize Able to synthesize Able to synthesize 4 Objective information from multiple information from multiple information from multiple Able to see the big picture sources sources sources 5 Focused on client needs Focused on client needs Focused on client needs Focused on client needs Objective Able to identify potential Able to identify potential Able to identify potential 6 Able to see the big picture Focused on client needs problems before they happen problems before they happen problems before they happen Able to identify potential 7 Technologically adept Technologically adept Technologically adept Demonstrates leadership problems before they happen Able to identify potential 8 Communicates effectively Able to see the big picture Able to see the big picture Demonstrates leadership problems before they happen 9 Able to see the big picture Communicates effectively Communicates effectively Technologically adept Technologically adept 10 Demonstrates leadership Demonstrates leadership Creative and innovative Communicates effectively Communicates effectively 11 Creative and innovative Creative and innovative Demonstrates leadership Creative and innovative Creative and innovative
  28. 28. Image is better than pre-Enron highs
  29. 29. Financial Literacy www.feedthepig.org www.360financialliteracy.org
  30. 30. Connectors to Resources C t tR
  31. 31. Seven Keys to Success in CPA Firm Management 1. Leadership 2. 2 Technology 3. Learning Organization 4. M k ti 4 Marketing and d Business Development 5. A Great Place to Work G Pl Wk 6. Client Service and Satisfaction 7. Strategy Execution
  32. 32. Firm Opportunities in these turbulent times • Talent acquisition • Succession planning • Strengthen value-added relationship with clients (cash flow financing & cost flow, control) • International / XBRL • Governance • Young Professionals – reverse mentoring
  33. 33. Competencies Needed Another example of the power of the AICPA & State CPA Societies working together – the CPA Vision identified these critical competencies for 2011 – years before Deloitte • Change • Communication & Management M t Leadership L d hi • Strategic Ability • Strategic & Critical Thinking • Critical Thinking • Focus on the Customer, • Business Client, and Market Perspective • Interpretation of • Organizational Converging Information Agility • Technologically adept • D li with Dealing ith Ambiguity
  34. 34. Critical Turning Point Courtesy of the Business Learning Institute © 2000
  35. 35. Connect – Protect - Achieve! “Association members Association earn, on average, $10,000 more per year than non- members” And “are 19% more likely to say they are “very- satisfied satisfied” with their jobs than non-members” Where the Winners Meet Study by the William E. Smith Institute for Association Research
  36. 36. Tom Hood, CPA.CITP Betsy Adrian CEO President Maryland Association of CPAs Minnesota Society of CPAs Business Learning Institute (443) 632-2301 (952) 831-2707 E-mail tom@macpa.org E-mail badrian@mncpa.org
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