ASCPA Connections - May/June 2024

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Case Study 1:

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Case Study 2:

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Dennis

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Artificial Intelligence (AI), do you think about how you are currently using or how you might use AI at your business or personally? Does your business want to survive or thrive in the age of AI? To begin, what is AI? AI tools are used to analyze data, identify trends and patterns, and pinpoint inefficiencies within business processes. Without too much thought, your business is likely using AI right now to provide customer service through automated telephone systems, banking functions, and client account research. Personally, most of us interact with AI daily through functionalities like facial and voice recognition on our cell phones, vehicle GPS, as well as social media personal recommendations.

What will our future look like using advanced AI tools? Will you implement AI tools to combat fraud management or cybersecurity challenges? Will you rely on chat functions to write content, or translate communications of another language? (Think of international business.) Will your company use AI to improve customer/client relationships?

According to a Forbes Advisor survey, businesses are using AI across a wide range of areas. The most popular applications include customer service, with 56% of respondents using AI for this purpose, and cybersecurity and fraud management, adopted by 51% of businesses.

Other notable uses of AI are customer relationship management (46%), digital personal assistants (47%),

inventory management (40%) and content production (35%). Businesses also leverage AI for product recommendations (33%), accounting (30%), supply chain operations (30%), recruitment and talent sourcing (26%) and audience segmentation (24%).

It is exciting to consider how accounting as a profession will not only embrace but innovate using AI tools and capacities. I would love to hear your thoughts on the subject.

ASCPA Annual Meeting 105 is your opportunity to learn more about AI. Cale Whittington, an EY partner in the Phoenix, AZ office will speak at the 105th ASCPA Annual Meeting on “Understanding the AI Landscape and Potential Impacts to CPAs and the Finance Profession”. Cale’s expertise on digital audit brings excitement to his team and helps them develop a career path early in their professional journey. Digital audit for EY enables its auditors to take a uniform, data-first approach to the client’s work and enhances audit quality. Specifically, this approach helps an audit team see the full picture of a business, allows better, more specific process questions, and equips the team to evaluate risk at a higher level. Lastly, by automating audit tasks, more time is allowed by early career auditors to deepen their understanding of the client’s business, exercise critical thinking skills, and provide business insights.

More opportunities this year to learn about AI include Marc Hamilton’s original content offered at Beach Clusters, CPE at SEA, Summer Education Conference and various other ASCPA education events. The Evolving CPA Toolkit, Natural Language Processing, and A Futuristic Perspective of the Accounting Profession are just a few of Marc’s 2024 educational sessions. We hope to see you at many of the 2024 ASCPA education events.

There is so much to learn about AI tools. However, I will not fail to mention that AI will not replace humans. AI does not create content; it does not innovate. Rather, AI processing tools can take over recurring, mundane tasks and allow talent to become more efficient in the client side of evaluating, projecting, and planning. Humans will always be needed in making judgment calls, in asking questions, and in formulating insights. AI

may be able to make predictions but as of today, it cannot replace human judgment.

As a quick update on Beneficial Ownership Information (BOI), the Alabama Society, along with all states and the AICPA, sent a letter in early April to Secretary Janet Yellen and Director Andrea Gacki expressing deep concerns about the rollout and constricted timeline to implement the Financial Crimes Enforcement Network’s BOI reporting requirements. The recent NSBA v. Yellen court case, U. S. District Court for the Northern District of Alabama, which found the Corporate Transparency Act to be unconstitutional has also compounded confusion with most companies believing they no longer have a filing requirement. Our collaborative letter encourages a suspension of all enforcement activities until one year after the conclusion of all court cases related to NSBA v. Yellen The portal to report can remain open with small businesses voluntarily able to report BOI, but no small business should be compelled to file, nor should any small business face enforcement for failure to comply until after the courts have worked through this complex case. Please remain on alert as progress is made or information is made available.

On behalf of the ASCPA work team, we thank you for being a part of Alabama’s best profession and best professional organization. We hope to see you at the 105th ASCPA Annual Meeting, June 11th, The Club Birmingham, and throughout the year at other ASCPA-sponsored events. If there is anything we can do for you or any suggestion that you would like to offer, please feel free to reach me at jbirmingham@alabama.cpa.

Spring is finally here! I hope everyone has had the opportunity to lick their wounds post April 15 deadline, and things have metered out to a more manageable pace. If you are like me, however, you have just moved on to the next fire drill. In hopes of keeping with my theme this year it is my sincerest wish that you had time to reflect and spend time with loved ones. I cannot stress how important it is to pause and take inventory of what is truly important in our lives.

ASCPA is in the throes of its busy season. As you read this, the board will have completed our strategic meeting in April where we have, in my opinion, diligently and dutifully worked to ensure that the next year provides tremendous value for our members. This CONNECTIONS edition will endeavor to highlight our efforts. I want to take the time to thank our current and incoming board for volunteering their time and energy in service of this profession and of ASCPA. It is a tremendous honor and privilege to serve in my current capacity alongside so many dedicated individuals. We are on the precipice of some critical inflection points in the profession. As we endeavor to address our pipeline challenges as a profession, it is imperative that we all consider ourselves as a steward of the accounting profession. This will require us all to stay engaged and allow for open and honest discourse about where this profession is headed. Stay tuned!

I wanted to add an additional reminder that the 105th Annual Meeting, which is scheduled for June 11, is on the horizon. The meeting will be held at The Club in Birmingham. If you haven’t registered yet I strongly encourage you to do so, as we have some great content planned for you! Jon Garrett is a must see when given the opportunity!

This year serving as your chair has flown by in a blur. It is hard for me to believe that it has been a year. As my time comes to an end, I want to first thank my immediate past chair, Jon Heath. His insight served as a tremendous resource in my transition and set the bar high. I am excited to welcome Sarah Propper as incoming chair. I am confident that

she will lead ASCPA diligently in the coming year.

I encourage each of you to take this season and sow – invest in, volunteer, and serve our honorable profession. Various opportunities to get involved exist for you: committees, chapter events, volunteer days, CPE, etc. Everyone is welcomed and encouraged. You will reap immense benefits from your efforts. I am humbled by the opportunity and honor to have served as ASCPA Chair. I believe it is always time to share gratitude and appreciation. Thank you to Jeannine, ASCPA staff, the Board, and all of the volunteers; your efforts are inspiring and cherished. Thank you to our members for placing your trust in this outstanding team to serve you by connecting, protecting, and educating.

I look forward to this next season sowing and serving alongside Jeannine, Sarah, our ASCPA team, and the Board and creating a bright future for the profession and our members.

James White – End of watch.

CONTRIBUTIONS.” MAKE A GIFT. MAKE A DIFFERENCE.

GivetoEdFoundPACcontribution

It’s that time of year again - time to renew your membership dues for 2024-2025.. During the renewal process you can also make designated gifts to two worthy causes: the ASCPA PAC and the ASCPA Educational Foundation. When you make an annual gift, you’re not only supporting your profession, you can also support accounting students in the pipeline.

REASONS TO MAKE A GIFT.

Did you know, by making a contribution to the ASCPA Educational Foundation, you can ease the financial burdens of accounting students and CPA candidates? We have heard many stories on the impact these scholarships make on the lives of Alabama students. When a student is awarded an Educational Foundation scholarship they can use the funds for any expenses pertaining to education, in whichever term they would like.

You can also make a gift to the Alabama PAC, a nonpartisan political action committee (PAC) comprised of CPAs who uphold the political voice of the CPA profession. Your contribution to the PAC benefits the future of the profession by ensuring your profession’s best interest are represented, supporting state legislators and candidates who support CPAs and business interests, and by allowing direct access to decision makers. This is your opportunity to affect political outcomes that help our profession.

FREQUENTLY ASKED QUESTIONS ABOUT MEMBERSHIP RENEWAL:

Q. What is the Alabama CPA PAC contribution?

This is a voluntary contribution to the Alabama Society of CPAs Political Action Committee (Alabama CPA PAC). The PAC effectively ensures that your profession’s best interests are represented every year. It supports state legislators and candidates who support CPAs and business interests. The PAC allows us to remain active, so we have direct access to lawmakers when legislative issues arise.

Q. How is my contribution to the ASCPA Educational Foundation used?

The ASCPA Educational Foundation is a 501(C)(3) organization, which provides annual educational scholarships to accounting students who plan to become Alabama CPAs.

Q. How can I set up a recurring contribution?

This is an easy one! Visit alabama.cpa and click “Give Back” from the top menu. From there you can choose “Donate to Educational Foundation” or “Contribute to PAC.”

You will also see a link in your receipt from 2024-2025 Membership Renewals directing you to a page on our website where you can designate your contributions,

Q. Who do I contact if I have questions about my membership, due, or if I have questions about making a gift?

Contact Bethany Booth, Membership & Peer Review Manager, at bbooth@alabama.cpa or 334.386.5751.

ASCPA CEO Jeannine Birmingham presents scholarships to University of North Alabama students (L-R) Ellie Matthewson, Jillian Speigle, and Beth Ann Tucker.

Impact from 2022: PAC Trustee Darren Hipps making a PAC contribution to thencandidate Marcus Paramore.

Recent Challenges to the Corporate Transparency Act

By Bruce P. Ely & William T. Thistle, II

Congratulations – busy season is finally over. You survived. Now it’s time to catch up on the other major issues that have been going on while you’ve been deep in the throes of return compliance.

As you’ve probably heard, the Corporate Transparency Act of 2021 (“CTA”) took effect on January 1, 2024 (after several postponements). The CTA requires certain business entities to report information about the individuals who own or control them. Specifically, the CTA requires corporations, LLCs, LPs, and similar entities to file a beneficial ownership report (“BOI”) with the Financial Crimes Enforcement Network (“FinCEN”) – a division within the U.S. Department of Treasury.

The CTA was intended to combat perceived abuses in money laundering, terrorist financing, and tax fraud. As a result, it’s pretty far reaching. In fact, it will apply to many of your clients, often to their surprise. Multiple trade and professional associations (including AICPA and ASCPA) have claimed that it’s too far reaching –unconstitutionally so. Bring on the lawsuits.

First, a U.S. District Judge in Huntsville ruled on March 1 that the CTA is unconstitutional because it “exceeds the Constitution’s limits on the legislative branch” and fails the “necessary and proper” test. The court’s injunction was limited to the named plaintiffs in the case – the individual plaintiff and the National Small Business Association (“NSBA”) and its members. In a press release issued promptly after the ruling, FinCEN stated that it interpreted the injunction to apply to the approximately 65,000 members of the NSBA who were members as of March 1 (some of whom may be your clients) – wherever they reside.

In record time, the U.S. Department of Justice appealed this decision to the 11th Circuit Court of Appeals, but it didn’t ask for an interim stay of the ruling. Instead, it updated and reissued its press release reaffirming that, in its opinion, the injunction only applies to certain NSBA members, and no others, and that it will continue to enforce – and expects your non-NSBA clients to comply with – the CTA. We have no idea how long it will take for the 11th Circuit to issue a definitive ruling, and even then, whether the losing party will appeal to the U.S. Supreme Court. And now there is some hint that Congress may step in and try to “fix” the CTA, as suggested by the district court.

This case isn’t a class action, so no other businesses or entities are technically covered, but the initial ruling has already spawned other lawsuits. There’s one in the U.S. District Court for Maine, Boyle v. Yellen et al., which was filed March 15. A third lawsuit challenging the CTA was filed last December in the Northern District of Ohio. On March 19, a fourth lawsuit was filed by the Small Business Association of Michigan in the U.S. District Court for the Western District of Michigan. So, we now have 4 challenges pending – and each is appealable to a different U.S. Circuit Court of Appeals.

We understand that most practitioners are taking the conservative approach, advising their non-NSBA clients that, unless they qualify for a statutory exemption, they should continue to comply with the CTA reporting requirements. That includes the 90-day deadline for nonexempt entities organized in 2024 to file their BOI report with FinCEN. So if your client formed a new business entity in January, and it’s not exempt from CTA, their deadline is fast approaching.

Stay tuned for further developments, and we suggest your engagement letters and advisory letters/emails to clients and friends confirm WHO is responsible for filing these BOI reports and for monitoring ongoing compliance, especially if it’s not your firm. And please remind your clients there is no grandfather clause in the CTA-- only a little grace. If they own a business entity formed prior to 2024, they have until December 31 to file the necessary BOI report. For a copy of the district court ruling, the DOJ Notice of Appeal, the FinCEN press releases, the ASCPAAICPA joint letter voicing concerns with the BOI rollout, or our summary of the CTA, email bely@bradley.com or wthistle@bradley.com.

© Bruce P. Ely and William T. Thistle, II Bradley Arant Boult Cummings LLP. April 2024

What the heck is

“Sufficient Time”?

By Jim Martin, CPA, CGMA

If you haven’t noticed in the past several years, the largest CPA firms in the world have been mired in ethical scandal. Fines of up to $100,000,000 have been imposed for these breaches and continue up to the writing of this article. Some states have actually pursued ethical charges against the human beings (not just the firms) who committed the wrongdoing. Most of the charges have centered on cheating on internal CPE exams, where answer sharing (in a number of ways) has been the norm. However, as we have seen recently, at least one firm has let clients “audit themselves” and another firm has set back computer clocks to make signoffs look like they happened before they did. Have these folks no accounting soul? If you ask them (the cheaters), they will tell you it’s not that they are flawed professionals but that their jobs are so time consuming that they do not have sufficient time to complete everything they need to do in their professional lives. In short, they are overworked.

To help alleviate this problem, new Statement on Quality Management Services #1 (hereafter referred to as SQMS 1), requires firms to put in place a new quality management system (to replace our current quality control system) by December 31, 2025 to be implemented for engagements for periods beginning on or after December 15, 2025.

If you haven’t read SQMS 1 yet (or SAS 146 or SSARS 26 which bring it into our world), let me enlighten you that these standards put an enormous amount of responsibility on the individual engagement partners, even if the clients are “firm clients”. The standards even call for potential compensation ramifications if a partner’s engagements are not SQMS compliant. A “highlight” of the new standards is, you guessed it, that all human resources assigned to the engagement, including youngest staff all the way to quality control reviewers and partners be given, you guessed it, “sufficient time” to appropriately complete their duties. I can see PPC having, at least in the general program, but maybe on every program, a place to sign off that you had sufficient time to complete your work properly. This brings us to an obvious question which is “What the heck is sufficient time?”

I have been in this profession for 38 years, 27 of them as a partner with signing authority over accounts. I have fleeting memories of the earliest years, but I do remember there being a constant sense of time pressure on everything; not only to do work timely, but also to do it within a budget constraint that I didn’t always see as reasonable. So, to achieve the partner desires, I would occasionally “eat” or “ghost” time (both terms mean the same thing) even when told that was not to be done.

We are, in my opinion, in different times now. Staff believe much greater in work life balance and allocate a certain

amount of time to their jobs (omg, we don’t OWN them) and that’s it. We are also in times where acquiring new staff and maintaining quality staff is difficult as the profession is labeled “boring” or “too complicated”. So, whether or not we believe that folks shouldn’t do hot yoga or workouts or walking dogs or other “life” things during busy times, we now have a regulatory requirement that they be given sufficient time to do their tasks appropriately.

So, how can we go about determining what is “sufficient time”? I see three main ways to go about this:

1. STAFF INVOLVEMENT

Sit down with staff in the planning phase and do a detailed review of what they are responsible for and what time it should take and when it should be complete. Make sure they have an open line of communication to you when it appears that time is not sufficient for whatever reason. They have to be comfortable talking to you. Some of the time this will be because they need additional familiarity with the rules (competence issues) and sometimes it may be you underestimated the time needed to actually perform the work. If you intended to bill a job below “standard”, make sure you don’t try to cut corners to increase realization. Communication by the partner with the staff throughout the term of the job is also a requirement of SQMS 1. Keep in mind that stressed professionals can carry out on some really bad ethical behavior.

2. ACT LIKE A MECHANIC

Ever wonder how mechanics can quote a price before they even start replacing your conflagulator valve? It’s because they bill based on a standard labor guide (like Chilton), not on how much time it actually takes. They do the work faster, they have a markup. They have a newbie who can’t get it done as fast,

they take a hit. The key is the mechanic (akin to auditor or accountant) has a guided number of hours necessary to do a specific job and they bill off of that. Maybe in determining sufficient time, your firm could develop average number of hours necessary to do accounts receivable work in an average scenario and use that as a base to adjust to your client’s specific issues.

3. RETAIN THE STATUS QUO (WHATEVER THAT IS)

Some of you, I pray most of you, have a good system in place currently where staff feel comfortable reporting their actual time, communicating with owners if there are unreasonable issues (at least in their eyes), and trust you as the partner to help work with them instead of just feeling pressure to cut corners in their professional work and lives because they don’t have sufficient time to get it all done in the time allotted in their life to work.

I appreciate you tolerating my humor and approach to discussing truly serious issues in our profession and certainly suggest that all parties who prepare, compile, review or audit familiarize themselves with SQMS 1, SAS 146 and SSARS 26 in the near future as time truly flies in our profession. I encourage you to attend a class I do on this topic or a selfstudy video (due out in the summer) to assist you in understanding and preparing for this potentially significant change in your practice environment! Isaiah 41:10.

Jim Martin, CPA, CGMA Martin & Co., CPA, P.C.

An Update to the Quality Management Standards

By Josh McGowan DBA, CPA and Ventsi Stamenov, PhD

SAS 146, entitled Quality Management for an Engagement Conducted in Accordance with Generally Accepted Auditing Standards, was issued as part of the “suite of quality management standards.” The quality management standards were issued as a result of peer reviews and related concerns from regulators about engagement quality. The ASB issued SQMS 1, SQMS 2, SQMS 3, and SAS 146. The ARSC issued SSARS No. 26. These standards will have a major impact on firm procedures and documentation. Although the effective date is periods beginning on or after December 15, 2025, firms should begin to implement processes that will ensure a smooth transition. Practitioners conducting engagements under SASs should especially focus on SQMS 1, SQMS 2, and SAS 146. Each of these is summarized below.

SQMS 1: System of Quality Management

SQMS No. 1 supersedes SQCS No. 8, entitled A Firm’s System of Quality Control (QC Section 10). SQMS No. 1 is focused on the firm’s system of quality control. Firms are encouraged to tailor their system of quality management to the nature and complexity of their firm and its engagements. Further, firms are required to customize their quality management system, including its design, implementation, and documentation, to meet its unique needs. SQMS 1 also requires that a firm’s system of quality management be continuously updated based on changes at both the firm level and the engagement level. Basically, this should be an iterative process that is always evolving. Under the new guidance, a firm’s system of quality management is required to address the following eight components:

The firm’s risk assessment process is at the center of SQMS No. 1. This is a new requirement related to the firm’s system of quality management. The risk assessment process should greatly influence the other requirements of SQMS No. 1, listed below. In general, the risk-based approach requires firms to establish quality objectives, identify and assess risks related to these objectives, and design and implement responses to the identified risks. The firm should establish sufficiently comprehensive quality objectives and may have additional sub-objectives. The implementation of the risk assessment process will differ by firm structure and organization. For example, in a less complex firm, the documentation of the objectives, risks, and responses may be documented in a single document, while in a more complex firm, the process may be centralized for all business units or decentralized. The responses to the identified risks should be implemented at the firm or engagement level, or a combination of both. SQMS No. 1 recommends documented policies and procedures for larger firms that have larger personnel and are more geographically dispersed. Quality objectives, risks, and responses should be established and documented for each of the following components, except the monitoring and remediation process.

2. Governance and leadership

The standard places emphasis on the role that a firm’s governance and leadership have in creating an environment and a culture that supports the firm’s system of quality management. Firms are encouraged to foster a culture that highlights:

• Service to the public interest,

• The importance of ethics, values, and attitudes,

• The responsibility of all personnel for maintaining quality, and

• The importance of quality in strategic decisions and actions.

Importantly, firm leadership is not only charged with responsibility and accountability for quality but is

also required to demonstrate their commitment to quality through their behaviors. An example would be the lead partner being involved in a preengagement meeting with staff. The firm’s organizational structure will be required to be designed in a manner that facilitates its system of quality management. Finally, resources should be provided that reflect the firm’s commitment to quality.

In a simpler organization, the entire responsibility and accountability for the quality management system may rest with one managing partner who solely oversees the firm. In a more complex organization with several tiers of leadership, there might be an independent governing body of external individuals responsible for non-executive supervision of the firm.

3. Relevant ethical requirements

This element of the firm’s system of quality management did not receive significant updates. However, an emphasis was placed on the responsibilities of the firm for all ethical requirements of practitioners. Firms should always be aware of the independence guidelines related to attestation engagements. Further, under SQMS No. 1, a firm is required to ensure all of those involved with engagements understand and fulfill the ethical requirements of the firm. Some examples of additional ethical requirements that are specific to quality management are the prohibition of gifts or hospitality from a client and the rotation of engagement partners performing attestation, review, and compilation engagements.

4. Acceptance and continuance of client relationships and specific engagements

This element is less prescriptive and is adjusted to principle-based requirements to establish quality objectives related to the acceptance and continuance of client relationships. SQMS No. 1 enhances the requirements surrounding a firm’s capability to conduct an engagement in alignment with professional standards. Firms will be expected to enhance their due diligence surrounding client acceptance and

continuance. Specifically, firms should pay attention to the nature and circumstances of an engagement, as well as the integrity and ethical values of the client.

Additionally, firms should make sure that their goals related to financial and operational priorities do not have undue influence on client/ engagement acceptance and continuance. The guidance makes clear that ethical requirements should not be diminished for monetary goals.

5. Engagement performance

This enhanced component requires engagement teams to fulfill their professional responsibilities. Specifically, the engagement partner is required to take full responsibility for achieving quality at the engagement level. The guidance further notes that the engagement partner should be appropriately involved throughout the engagement. For example, the engagement partner can track the progress of the engagement, consider if the engagement team follows the instructions and acts according to the plan, address matters arising during the engagement, consult more experienced team members, and modify the approach if needed considering the circumstances. Professional judgment and professional skepticism are also highlighted in SQMS No. 1, but many of the action items are found in SAS 146 and SSARS 26.

Josh McGowan DBA, CPA Associate Director & Assistant Professor, Troy University

Ventsi Stamenov, PhD Assistant Professor Troy University

CPE WITH ASCPA

We are excited to kick off the 2024 CPE Season! On the next few pages you will find a preview of our CPE programming throughout the upcoming year, including live webcasts, webinars, in-person events and hybrid events featuring in-person and virtual attendance options.

Again this year, we have partnered with the Georgia Society of CPAs to bring some of their conferences and live webcasts to our members. We have also renewed our partnership with CPA Crossings to bring you ALOnDemand, a platform designed to bring many more On-Demand courses to your fingertips! Read more about ALOnDemand on page 16.

We have a list of CPE FAQs on our website which address accessing your ASCPA account, logging into a CPE course, and finding your transcript. There is also a section on surveys, which must be completed within 7 days after a course in order to process CPE certificates. Please read over this short FAQ page, which can be found at alabama.cpa/cpe-faq, to ensure you are ready to conquer the 2024 CPE Season.

K2’s Advanced Excel

Virtual

5/8/2023 (9 AM-4:30 PM)

K2 Speaker | 4 AA, 4 Other

K2’s Budgeting and Forecasting Tools and Techniques

Virtual

5/16/2024 (9 AM-4:30 PM)

K2 Speaker | 8 AA

K2’s Case Studies in Fraud and Technology Controls

Virtual

5/17/2024 (9 AM- 4:30 PM)

K2 Speaker | 8 Auditing

Accounting Changes & Errors

Virtual

6/4/2024 (10 AM- 11:40 AM)

Josh McGowan | 2 A&A

K2’s June Technology Conference

Virtual

6/13- 6/14/2024

Various| 16 Various

K2’s Technology for CPAsDon’t Get Left Behind Virtual

6/28/2024 (9 AM- 4:30 PM)

K2 Speaker 8 Computer Software & Applications

6/18- 6/20/2024 (8:30 AM- 4:30 PM)

Various | 24 Various

K2’s Accountant’s Guide to QuickBooks Online

Virtual

6/24/2024 (9 AM- 4:30 PM)

K2 Speaker | 4 Accounting, 4 Computer & Software Applications

SSARS Engagements from the Preparation to the Review

Virtual

6/26/2024 (8:30 AM- 12 PM)

Mike Brand | 4 A&A

Annual Meeting

In-Person

6/11/2024 (8 AM- 4:15 PM)

Various| 6.6 Various

K2’s Ethics and Technology

Virtual

6/27/2024 (9 AM- 12:30 PM)

K2 Speaker | 4 Behavioral Ethics

K2’s Mastering Advanced Excel Options

Virtual

6/27/2024 (1 PM- 4:30 PM)

K2 Speaker | 4 Computer Software & Applications

2024 Not-for-Profit Accounting Update

7/9/2024 (8:30 AM-12 PM)

Melisa Galasso 4 Accounting (Governmental)

2024 Governmental Audit Update: Yellow & Uniform

Virtual

7/9/2024 (1 PM- 4:30 PM)

Melisa Galasso 4 Auditing

What’s Going on at the AICPA

Virtual

7/10/2024 (8:30 AM-12 PM)

Melisa Galasso 4 Auditing

Common Deficiencies in SSARS Engagements

Virtual

7/10/2024 (1 PM-4:30 PM)

Melisa Galasso 4 Auditing

The Evolving CPA Toolkit

Virtual and In-Person

7/11/2024 (8:30 AM- 12 PM)

Marc Hamilton | 4 Other

NLP

Virtual and In-Person

7/11/2024 (1 PM-4:30 PM)

Marc Hamilton | 4 Other

AICPA Code of Ethics

Virtual

7/16/2024 (10 AM- 11:40 AM)

Josh McGowan | 2 Ethics

K2’s Small Business Internal Controls, Security, and Fraud Prevention and Detection

Virtual 7/17/2024 (9 AM-4:30 PM)

K2 Speaker | 8 Auditing

K2’s Excel Charting and Visualizations

Virtual

7/19/2024 (9 AM- 12:30 PM)

K2 Speaker | 4 Computer and Software Applications

Summer Education Conference

Virtual

7/21-7/26/2024

Various | 20 Various

K2’s Advanced QuickBooks Tips and Techniques

Virtual

7/31/2024 (1 PM- 4:30 PM)

K2 Speaker | 4 Auditing

K2’s Case Studies in Fraud and Technology Controls

Virtual 7/31/2024 (1 PM- 4:30 PM)

K2 Speaker | 4 Auditing

Highlights of the Standards that Cover Accounting and Auditing Engagements

Virtual

7/31/2024 (8:30- 12 PM)

Mike Brand | 4 A&A

Digital Asset Accounting and Taxation

Virtual and In-Person 7/31/2024 (8:30 AM- 12 PM)

Marc Hamilton | 4 Taxes

Navigating the Future: Leveraging AI Machine

Learning in Accounting and Auditing

Virtual and In-Person

7/31/2024 (1 PM- 4:30 PM)

Marc Hamilton | 4 A&A

Deep Dive into Quality Management

Virtual 8/15/2024 (8:30 AM- 10:10 AM)

Melisa Galasso | 2 Auditing

City Visits: A&A in the Magic City

In-person

8/6/2024 (8:30 AM- 4 PM)

Jim Martin | 8 A&A

City Visits: A&A in the Queen City

In-Person

8/7/2024 (8:30 AM- 4 PM)

Jim Martin | 8 A&A

A&A Update for the Real World

Virtual

8/9/2024 (8:30 AM- 12 PM)

Jim Martin | 4 A&A

The Leasing Standard: What’s Next? Guide to Operating Lease Renewals, Cancellations, Modifications, Etc. Under ASC 842

Virtual

8/9/2024 (1 PM-4:30 PM)

Jim Martin | 4 A&A

Ethics and Tax Preparers: The New SSTS’s!

Virtual

8/12/2024 (9 AM- 10:40 AM)

Jim Martin | 2 Ethics

Accounting for Pensions

Virtual

8/14/2024 (10 AM- 11:40 AM)

Josh McGowan | 2 A&A

What’s Changing in Risk Assessment

Virtual 8/15/2024 (10:30 AM- 12:10 PM)

Melisa Galasso | 2 Auditing

Deep Dive into Common Audit Deficiencies

Virtual 8/15/2024 (1 PM- 4:30 PM)

Melisa Galasso | 4 Auditing

Accounting & Attestation for ESG

Virtual 8/16/2024 (8:30 AM- 10:10 PM)

Melisa Galasso | 2 A&A

2024 AICPA Regulatory Ethics Update

Virtual 8/16/2024 (8:30 AM- 10:10 AM)

Melisa Galasso | 2 Ethics

Common Yellow Book & Single Audit Deficiencies

Virtual 8/16/2024 (1 PM- 4:30 PM)

Melisa Galasso | 4 Auditing (Governmental)

CPE at Sea In-Person

8/17-8/24/2024

Marc Hamilton 20 Various

K2’s Business Continuity- bet Practices for Managing the Risks

Virtual

8/20/2024 (9 AM- 4:30 PM)

K2 Speaker | 8 Information Technology

K2’s Microsoft Access- Tables, Queries, and Beyond

Virtual

8/21/2024 (9 AM- 4:30 PM)

K2 Speaker | 8 Information Technology

K2’s QuickBooks for Accountants

Virtual

8/22/2024 (9 AM- 4:30 PM)

K2 Speaker | 4 Accounting, 4 Software and Applications

City Visits: A&A in the Port City In-Person

8/28/2024 (8:30 AM-4 PM)

Jim Martin 8 A&A

City Visits: A&A in the Capital City In-Person

8/29/2024 (8:30 AM- 4 PM)

Jim Martin 8 A&A

Getting Your Practice Ready for Peer Review

Virtual

8/29/2024 (8:30 AM- 12 PM)

Mike Brand | 4 A&A

Sales and Use Tax Workshop

Virtual 8/29/2024 (8:30 AM- 12 PM

Bruce Ely and Will Thistle | 4 Tax

Update on CTA and BOI: Where Do We Stand?

Virtual 9/13/2024 (2 PM- 3:40 PM)

Jim Martin | 4 TBD

City Visits: A&A in the Rocket City In-Person

9/16/2024 (8:30 AM-4 PM)

Jim Martin | 8 A&A

City Visits: A&A in the River City In-Person

9/17/2024 (8:30 AM- 4 PM)

Jim Martin | 8 A&A

City Visits: A&A in The Shoals In-Person

9/18/2024 (8:30 AM- 4 PM)

Jim Martin | 8 A&A

Preparation, Compilation, & Review Engagements Overview

Virtual 9/19/2024 (2 PM- 3:40 PM)

Josh McGowan | 2 A&A

A&A Update for the Real World

Virtual 9/23/2024 (8:30 AM- 12 PM)

Jim Martin | 4 A&A

CPE WITH ASCPA

The Quality Management Standards are Moving Closer

Virtual

9/23/2024 (1 PM- 4:30 PM)

Jim Martin | 4 A&A

K2’s Next Generation Excel Reporting

Virtual

9/24/2024 (9 AM- 4:30 PM)

K2 Speaker | 8 Accounting

K2’s Implementing Internal Controls in QuickBooks Environments

Virtual

9/25/2024 (9 AM- 4:30 PM)

K2 Speaker | 8 Auditing

K2’s Improving Productivity with Microsoft 365/Office Cloud Applications

Virtual

9/26/2024 (1 PM- 4:30 PM)

K2 Speaker | 4 Computer & Software Applications

Financial Accounting and Auditing Conference (FAAC)

Virtual and In-Person

9/27/2024 (8 AM- 4:30 PM)

Various | 8 TBD

Alabama Federal and State Tax Institute (AFSTI)

Virtual and In-Person

11/6-11/8/2024

Various | 20 Tax

K2’s November Technology Conference

Virtual

11/11-11/12/2024 (8 AM-4:15 PM)

Various | 15 Various

Governmental Accounting and Auditing Forum (GAAF)

Virtual and In-Person

12/9-12/11/2024

Various | 16 Various

Federal and State of Alabama Tax Update

Virtual 12/12/2024 (8:30 AM-4:30 PM)

Jim Martin | 8 Tax

Federal and State of Alabama Tax Update

Virtual 1/16/2025 (8:30 AM-4:30 PM)

Jim Martin | 8 Tax

See the entire catalog and up-to-date course offerings by visiting alabama.cpa/CPE.

ALOnDemand

ASCPA is continuing its partnership with CPA Crossings - one of the foremost providers of quality professional education for CPAs - to offer an on-demand learning solution called ALOnDemand. More than 140 curated courses are available covering a wide range of topics in accounting and auditing, tax, technology and more.

A subscription is available to ASCPA members that provides unlimited access to all ALOnDemand courses during the calendar year and unlimited CPE credits.

The ALOnDemand subscription gives you the freedom to take CPE when and where you want! While the platform will be new to ASCPA members, a very useful tutorial video is available for all subscribers.

To learn more visit alabama.cpa/ALOnDemand.

INSTRUCTOR Jim Martin

Choose from eight programs across the state and hear from Jim Martin as he gives his A&A Update.

Register for any of these programs by visiting alabama.cpa/city-visits.

Jim Martin City Visits: A&A in the Magic City In-Person

8/6/2024 (8:30 AM- 4 PM)

Jim Martin | 8 AA

Jim Martin City Visits: A&A in the Queen City In-Person

8/7/2024 (8:30 AM-4 PM)

Jim Martin | 8 AA

Jim Martin City Visits: A&A in the Port City In-Person

8/28/2024 (8:30 AM-4:00 PM)

Jim Martin | 8 AA

Jim Martin City Visits: A&A in the Capitol City In-Person

8/29/2024 (8:30 AM-4:00 PM)

Jim Martin | 8 AA

Jim Martin City Visits: A&A in the Rocket City In-Person

9/16/2024 (8:30 AM-4 PM)

Jim Martin | 8 AA

Jim Martin City Visits: A&A in the River City In-Person

9/17/2024 (8:30 AM-4 PM)

Jim Martin | 8 AA

Jim Martin City Visits: A&A in the Shoals In-Person

9/18/2024 (8:30 AM-4:00 PM)

Jim Martin | 8 AA

105th Annual Meeting

June 11, 2024 | The Club, Birmingham

Register at alabama.cpa/AnnualMeeting

Join us the night before for a new event, benefitting the ASCPA Educational Foundation!

A Night Out With Chef Hastings

Monday, June 10 at 6 p.m.

Hot and Hot Fish Club, Birmingham alabama.cpa/chef

Register at alabama.cpa/AnnualMeeting

One of the unique things about Beach Clusters is that you can pick-and-choose which sessions to attend based on your interests. Three of our most popular presenters - Mike Brand, Marc Hamilton, and Jim Martin - are joining forces to bring you timely and relevant CPE sessions.

Visit alabama.cpa/BeachClusters to learn more.

Our venue, Hampton Inn & Suites, provides complimentary breakfast for hotel guests from 6-10 a.m. Those attending both a morning and afternoon session on the same day will receive a boxed lunch from ASCPA, as time between sessions is limited.

Visit alabama.cpa/beach-clusters-room-block to book your room by May 18.

June 18-19

Hampton Inn & Suites

Orange Beach, AL

James White, Jr.

John Garrett

Mike Brand

Kerry Underwood

Cale Whittington

Lisa McKinney

Danny Garrett

2024 SUMMER EDUCATION CONFERENCE

JULY 21-26

THE LODGE AT GULF STATE PARK GULF SHORES, AL

INSTRUCTOR Jaclyn T. Badeau

July 21

INSTRUCTOR Kevin Cross

INSTRUCTOR Neil Eggers

INSTRUCTOR Marc Hamilton

INSTRUCTOR Jan Lewis

INSTRUCTOR Lisa McKinney

INSTRUCTOR Kurt Oestriecher

Agenda

5 p.m. Build Your Asset Location Strategy: CES Life Income Plan with Neil Eggers, CPA, CFP

July 22

8 - 11:40 a.m. Tax Update with Lisa McKinney, CPA

July 23

8 - 11:40 a.m. Accounting and Auditing Update with Kurt Oestriecher, CPA

July 24

8 - 9:40 a.m. Turbocharge Your Life with Emotional Intelligence (EQ)! with Jaclyn T. Badeau, EQ Certified, MBA, CPA, CGMA

10 - 11:40 a.m. Professional Issues Update with Jan Lewis, CPA

July 25

8 - 11:40 a.m. Top 5 Frauds CPAs May Miss with Kevin Cross, CPA, MST

July 26

8 - 11:40 a.m. Natural Language Processing (NLP) and Prompt Engineering: Overview and Application with Marc Hamilton, CPA CPE: 20 credits

CPA Firm Leaders: Here are Three Risks to Watch in H2

By Cathy Whitley, Senior Risk Advisor, Aon

Accountants find themselves at the forefront of navigating complicated challenges and opportunities as the business landscape continues to evolve – from the active, complex merger and acquisition environment to the struggles that come with ongoing staffing shortages. These challenges not only pose obstacles for firm leaders as professional liability (PL) risks, but also present employment practices liability (EPL) risks, requiring careful attention and, often, the adoption of new mitigation strategies.

So, what are some issues and risks should Alabama CPA firms be watching as we enter the second half of the year? Based on my conversations with accounting leaders throughout the state, I’ve noticed three recurring issues that should be on their radar:

Mergers & Acquisitions

The situation: M&A activity continues to surge across the industry, uniting firms of varying sizes, focuses, and cultures, and in certain instances, facilitating collaborations between accounting firms and private equity firms. For example, for the first nine months of 2023, organizations worldwide agreed to 26,608 M&A deals totaling $2.1 trillion.

While a merger or acquisition can bring new opportunities, when it lacks a structured approach for integrating two distinct cultures it can present significant risks. These risks can include potential client dissatisfaction or attrition due to changes in service offerings or personnel, compliance issues, problems in integrating IT systems and operational processes, as well as the risk of losing key talent during the transition period.

Suggestion: If a firm is contemplating or strategizing a merger or acquisition, leadership should prioritize discussions on talent and culture and assign a team to own this part of the integration. Navigating risks that come with M&A activity requires careful planning, effective communication, and strategic management to ensure a smooth and successful integration. With that, culture can’t be an afterthought – it needs to be part of strategy from the start.

Accountant Shortage

The situation: According to the U.S. Bureau of Labor Statistics, more than 300,000 accountants and auditors have left their jobs over the last three years. The Bureau has also projected that employment of bookkeeping, accounting and auditing clerks is set to decline 6% from 2022 to 2032.

To compensate for business demand and workload, some firms have used third-party resources to perform accounting functions. And I hear of more small and mid-sized firms adopting a strategy similar to larger firms by expanding their recruitment efforts beyond state and national borders to fulfill client demands, according to a recent Forbes story.

Suggestion: The accountant shortage has been an issue for firms of all sizes – one that has increased both PL and EPL risks. To mitigate these risks, accounting firm leaders should focus not just on filling open positions, but also on weakness among existing staff as well as retaining top performers. Having a strategy in place to attract, retain and continue to train staff can help. And if your practice is considering going beyond state or national borders as part of this strategy, understanding applicable laws that come with outsourcing talent is imperative.

Cybersecurity

The situation: CPA firms continue to be targeted by cybercriminals because of the wealth of sensitive financial data they possess. These criminals design and shape their tactics to specifically exploit the accounting profession’s increased use of technology such as cloud-computing, smart devices and electronic communications. Astra Security’s latest data breach statistics reveal a concerning surge in the number of exposed consumer records across industries: 2,200 cyber attacks are reported daily – or every 39 seconds on average. In the United States, a data breach costs an average of $9.44 million, and cybercrime is predicted to cost $10.5 trillion by 2025.

Suggestion: Leaders should begin by acknowledging that all CPA firms – both big and small – are at risk of cyber attacks,

so they need to design a strategy that addresses everything from minimizing IT and social engineering vulnerabilities to exploring cyber liability insurance solutions. And given the evolving nature of cyber threats, this plan needs to be reviewed and updated on a regular basis to help ensure the firm is addressing changing risks.

Conclusion

These three risks have one major common thread – they are not new to accountants, but that does not minimize the threat they pose to firms. In fact, their ongoing persistence should present a red flag to firm leaders. Even with emerging risks coming into the accounting landscape, firms should not disregard existing threats, which may be as big if not bigger. Now is the time to take a step back and reflect if your firm has the adequate coverage before one of these risks turns into a claim.

This information is provided for general information purposes only and is not providing individual guidance on legal requirements or potential exposures. You should consult with your professional advisers before taking any action discussed. Recipients are responsible for the use to which they use this document.

About the Author:

Cathy Whitley is a Senior Risk Advisor with Aon who works closely with members of the Alabama Society of CPAs to help safeguard their livelihood from risk exposures they face in the profession.

An insurance professional for more than 30 years, you can contact Cathy by email at cathy.whitley@aon.com or phone at 214-244-0702 to find out more about the AICPA Professional Liability Insurance Program. Connect with Cathy on LinkedIn.

Congratulations to Alabama’s newest CPA Licensees

The following individuals have successfully passed all four parts of the CPA exam - Congratulations !

Avery Taylor Beasley, Ozark

Eleanor Waite Bond, Montgomery

Rachel Brooke Bowley, Gadsden

Susan Pettigraw Capps, Birmingham

Chelsea Elizabeth Carroll, Wetumpka

John Anthony Cento, Bowling Green, KY

Zijuan Chen, Montgomery

Sarah-Briley Rose Cross, Prattville

Amily Tyler Daffron, Dothan

Kellsey Leigh Daggett, Daphne

Ryan Durham Dowdy, Leeds

Murphy Joseph Durrett, Trussville

Garrett Thomas Fain, Wildwood, MO

Justin Robert Funk, Opelika

Macy Delano Gooch, Florence

Cameron J. Graham, Lake Saint Louis, MO

Tavares Santez Grays, Wetumpka

Brandon Alexander Haley, Tuscaloosa

Mary Casteel Hallisey, Birmingham

Danielle Ashton Haskin, Huntsville

Justin Van Headley, Birmingham

Douglas Elliott Hurt, Birmingham

David Thomas Hyde, Birmingham

Sarah Margaret Jordan, Annapolis

Felicia Staub Langston, Gardendale

Jacqueline Lacey Lewis, Roswell, GA

Taylor Nicole Loaiza, Mobile

Emma Pierce Lucas, Jackson, MS

Natalie Erin Luther, Auburn

India Amelia Marriott, Birmingham

Tracy Elizabeth Martin, Mobile

Christian Alan Millns, Madison

Viet-Phuong Tran Nguyen, Madison

Mary Katherine Patton, Collinsville

Jacob Bryant Paul, Birmingham

Brittany Nicole Pell, Columbus, GA

Empowering CPA Firms for Years

John Douglas Phillips, Hoover

Rachel Jo Pierce, Florence

Kara Trae Plash, Birmingham

Natalie Knox Shannon, Huntsville

Abigail Borland Snyder, Birmingham

David Malcolm Sower, Decatur

Cory Alan Stanaland, Birmingham

Savannah Elizabeth Stephens, Mobile

Alicia Duncan Still, Auburn

Molly Parker Stone, Birmingham

Robert Dowie Umbach, Birmingham

Katherine Anne Votaw, Ponte Vedra Beach, FL

Lillian Nolani Webb, Birmingham

Steven Graham Whitaker, Hoover

Andrew Stephen Whitfield, Birmingham

Jackson Daniel Willyerd, Birmingham

alliantgroup is excited to be working with over 4,600 CPA firms nationwide. We are helping them achieve their goals and better serve their clients through tax advisory services, talent solutions and emerging technologies like Generative AI.

Connect with us today to find the right solution for your firm.

Allen Carroll, Partner with Wilkins Miller, was recently reappointed to the Alabama Securities Commission.

Rita Prince, with Patterson Prince and Associates, was recently reappointed to the State Board of Public Accountancy.

Accounting Today’s Top 100 Firms

We’re thrilled to share that BMSS is officially a Top 100 Accounting Firm and has been named the #86th largest in America by Accounting Today. This achievement reflects our commitment to excellence and the incredible support from our team and clients.

BMSS Zebras

BMSS adopted the zebra habitat at the Birmingham Zoo! Zebras have represented the firm for years as our mascot, so it was about time we had some real ones join the zeal!

Subcontractors Association of Alabama

In March, our team members met with general contractors from all over the southeast at the SubAla Meet the GC’s Expo.

Coffee Trucks at the Office

Each BMSS office had a coffee truck treat for the March 15th deadline!

CEO’s 60th Birthday

On March 12, the firm celebrated CEO and Founding Member Don Murphy’s 60th birthday!

Kate Fluker joined the ABC Board of Directors

Senior manager, Kate Fluker, joined the 2024 Board of Directors of ABC Alabama. We’re so proud of her exceptional work ethic and are incredibly grateful to have her on our team.

Jackson Thornton Acquires MST CPAs & Advisors

Jackson Thornton (JT), a certified public accounting and consulting firm, is pleased to announce that Montgomery-based MST CPAs & Advisors will join the firm, effective March 1, 2024.

The merger will offer MST’s clients an expanded depth of services while maintaining the personalized service for which the firm is known. MST was founded in 2014 by Jeremiah K. Moreland and W. Michael Shaw and serves clients throughout Central Alabama. Jackson Thornton, founded in 1919, has consistently appeared on Accounting Today’s ”Beyond the Top 100” list and is ranked 5th on Business Alabama’s 2024 Top Rank listing of Alabama’s largest accounting firms. In 2023, JT was named a “Best Company to Work For” by Business Alabama.

“The addition of MST to the Jackson Thornton family gives our existing clients access to even more enhanced accounting and outsourced CFO services,” said John S. Fendley, president and CEO of Jackson Thornton. “At the same time, it gives our new clients a depth of experience and resources they haven’t had before. The people they know and trust are now backed by several teams of people offering a diverse array of expertise. We’re excited about this expansion and believe that this is a natural fit for both firms.”

“Joining Jackson Thornton puts us in a great position to expand and help our clients achieve their goals,” said Jeremy Moreland, a partner with MST. “Our mission has always been to develop client relationships based on trust and personal attention. Jackson Thornton has the same philosophy, while providing hundreds of years of collective experience, and we look forward to enhancing our practices together.”

BMSS Advisors & CPAs

Caroll

Prince

Kassouf named accounting top regional leader

Kassouf was named a Top Regional Leader in Accounting Today’s annual ranking. The firm placed in the top 20 among Gulf Coast firms, including Alabama, Mississippi, Louisiana, and Florida.

“We are incredibly honored to be named a regional leader in the accounting profession. This award is a reflection of our team’s hard work and dedication to helping our clients and community,” said Kassouf Managing Director Jonathan Kassouf.

Kassouf is one of four Birmingham firms and one of eight Alabama firms to receive the honor.

The award is based on data such as annual revenue, percentage in revenue change, employee metrics, and fee splits.

“From awards for our inclusion efforts and company culture to awards like this one recognizing the firm’s economic successes, these honors are a symbol of what is most important. Kassouf is a place where employees develop and grow, and clients receive exceptional service from a team of experts,” Kassouf said.

Mauldin & Jenkins Recognized Among Accounting Today’s 2024 Top 100 Firms, Regional Leaders and Fastest Growing Firms

Leading assurance, tax and advisory firm Mauldin & Jenkins is honored to announce it has been recognized as one of Accounting Today’s Top 100 Firms, Regional Leaders, and Fastest Growing Firms in the U.S. for 2024. These prestigious recognitions affirm that Mauldin & Jenkins’ continued growth and commitment to excellence differentiate the firm from its peers in a highly competitive environment.

The latest accolades represent Mauldin & Jenkins’ 30th consecutive appearance on Accounting Today’s annual list of the Top 100 Firms. Climbing five spots from last year’s number, the firm ranked number 68 on this year’s list. The annual rankings are a longstanding and well-respected tradition to compare growth, performance, and revenue among the most successful firms.

Warren Averett CPAs and Advisors

Warren Averett CPAs and Advisors received ClearlyRated’s Best of Accounting Award for the first time.

ClearlyRated is a leading provider of survey tools and expertise for professional service firms. They help professional service firms collect actionable feedback from clients and employees so that the businesses can use the critical insights to improve.

The Best of Accounting Award recognizes accounting firms that have delivered exceptionally high levels of client service based exclusively on ratings provided by the firm’s clients. This was Warren Averett’s first time participating in the survey.

Warren Averett received satisfaction scores of 9 or 10 out of 10 from over 90% of surveyed clients. Additionally, the firm received a Net Promoter Score of 89.7%, which was more than double the industry’s average in 2023.

Warren Averett CPAs and Advisors has also been recognized on USA Today’s 2024 America’s Most Recommended Tax Firms and America’s Most Recommended Accounting Firms lists.

USA Today partnered with Statista to create the national lists of highly recommended firms for tax and accounting services; results are based on thousands of surveys and recommendations from both accounting professionals and clients.

While this is USA Today’s inaugural accounting awards, this is the fourth year in a row that Warren Averett has been included on Statista’s tax and accounting award lists. The distinction demonstrates the firm’s continued commitment to excellent client service.

Finally, in April Warren Averett CPAs and Advisors were named a Most Prestigious Accounting Firm by Vault, a trusted authority in career intelligence resources for professionals and students. This is the third time that Warren Averett has been named to this list.

The 2025 Top 50 Most Prestigious Accounting Firms list was determined through a survey filled out by accounting professionals from late 2023 into early 2024.

The survey asked about life at the survey participant’s current or former firm, and they were also asked to give firms a prestige rating. The accounting professionals only ranked firms they were familiar with, and they were not allowed to rate their own (or former) employer to keep things fair.

YOUR PRACTICE WANTED

Thinking about selling your practice? Accounting Practice Sales delivers results, bringing you the best price, optimal terms and a buyer who represents an ideal fit for your clientele. Contact us today for a confidential discussion. PRACTICES FOR SALE:

• Montgomery, AL area CPA grossing $200K *Available*

• Tuscaloosa, AL CPA grossing $175K *Available*

• Auburn – Opelika CPA grossing $330K *Sold*

• Pascagoula, MS area practice grossing $185K *Available*

• Dyersburg, TN area CPA grossing $320K *Available*

• South of Knoxville, TN CPA grossing $425K *Available*

• Upper Cumberland, TN CPA grossing $960K *New*

• Panama City Beach, FL CPA grossing $205K *Available*

• Western FL Panhandle CPA grossing $365K *Available*

For more information on these listings or to sell your practice, contact Lori Newcomer, CPA and Tim Price, CPA at (888) 553-1040 or PNgroup@APS.net, or visit www.APS.net.

SELLING YOUR FIRM IS COMPLEX. LET US MAKE IT SIMPLE.

Accounting Biz Brokers knows your market. Contact us TODAY to receive a free market analysis.

For Sale:

• NEW! North Metro Atlanta Area $2.5M

• Western Knoxville, TN $430k

• Chattanooga, TN Area $2.115M -SOLD

For more information contact Kathy Brents, CPA, CBI at 866.260.2793 or Kathy@AccountingBizBrokers.com. Visit us online at www.AccountingBizBrokers.com .

SPECIALTY FOUNDRY PRODUCTS SEEKS STAFF ACCOUNTANT

Specialty Foundry Products is currently seeking a full time Staff Accountant to work 40-50/ week. Must be a CPA, or a qualifying collegiate candidate, willing to learn the business and grow with the organization. Potential succession to Chief Financial Officer role.

The Ideal candidate will be able to balance strong accounting principles with the flexibility of working in a dynamic wholesale distribution setting. Must have strong character, be personable and knowledgeable, have ability to see “the gray,” be self-motivated, trustworthy, dependable, and professional but capable of being reasonable.

To learn more, contact Terri Daniel at tdaniel@specfoundry.com.