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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
CPA-SEA is the network
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
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      

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
Everything You Wanted To Know About Cpa Sea & State Cpa Societies
Mega-trends
1. Regulations &
1R      l ti
   Standards
                   Economic Meltdown
2. Globalization
                     – More Government
3. Workforce
                     – Less Leverage
4. Technology
                       /Credit Crunch
Everything You Wanted To Know About Cpa Sea & State Cpa Societies
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
Keeping up with the CPA Profession
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
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
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
What is under the CPA Profession?
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
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
Peer Review - Your firm license
depends on it
US Treasury




MD Comptroller
 MD Comptroller




MD Comptroller




                                                                             CAQ




 Courtesy of the Maryland Association of CPAs – 2008 edition
 Drawing by Carol Kirwan, CPA
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
First PCAOB now FAOB?




   New 5 member oversight board
        d by Congress – M h 6th,
 proposed b C           March
              2009
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
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
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
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?
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
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
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.
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
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
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 and d
Business Development
5. A Great Place to Work
     G     Pl       Wk
6. Client Service and Satisfaction
7. Strategy Execution
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
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
Critical
                                    Turning
                                     Point




Courtesy of the Business Learning
Institute © 2000
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
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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Everything You Wanted To Know About Cpa Sea & State Cpa Societies

  • 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. CPA-SEA is the network
  • 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. 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. 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
  • 7. Mega-trends 1. Regulations & 1R l ti Standards Economic Meltdown 2. Globalization – More Government 3. Workforce – Less Leverage 4. Technology /Credit Crunch
  • 9. 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
  • 10. Keeping up with the CPA Profession
  • 11. 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
  • 12. 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
  • 13. 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
  • 14. What is under the CPA Profession?
  • 15. 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
  • 16. 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
  • 17. Peer Review - Your firm license depends on it
  • 18. US Treasury MD Comptroller MD Comptroller MD Comptroller CAQ Courtesy of the Maryland Association of CPAs – 2008 edition Drawing by Carol Kirwan, CPA
  • 19. 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
  • 20. First PCAOB now FAOB? New 5 member oversight board d by Congress – M h 6th, proposed b C March 2009
  • 21. 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
  • 22. 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
  • 23. 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
  • 24. 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?
  • 25. 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
  • 26. 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
  • 27. 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.
  • 28. 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
  • 29. 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
  • 30. Image is better than pre-Enron highs
  • 31. Financial Literacy www.feedthepig.org www.360financialliteracy.org
  • 33. 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
  • 34. 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
  • 35. 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
  • 36. Critical Turning Point Courtesy of the Business Learning Institute © 2000
  • 37. 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
  • 38. 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