AZ CPA Sept 2012

AZ

CPA september 2012

The Arizona Society of Certified Public Accountants

2012

Legislative Update

New Auditing Standards Clarified

7 Steps to Keep Focused How Important is Your Resume?

www.ascpa.com

Tell Your Clients About Scholarship Tax Credits.

2 AZ CPA y SEPTEMBER 2012

Arizona Society of CPA members may be eligible to—

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AZ

CPA

september 2012

Volume 28 Number 7

The Peer Review Oversight Advisory Committee — Consistency Increases Quality

15

Find out what is new with the PROAC.

by Dominic J. Celico, CPA

Stand Out with the Right Résumé

17

Just how important is a good résumé with the emergence of LinkedIn and other social media?

by Bryan Newman, CPRW

Features

Seven Tips on How to Stay Focused

I See It! The Clarified Auditing Standards

9

Points to consider as auditors prepare for the new clarified auditing standards coming in December.

by Charlie Blanton

We’ve Arrived! — The ASCPA Scores Big in the Legislative Arena for 2012

Columns & Departments 12

The ASCPA becomes a main leader in policymaking this year. Read the 2012 Legislative Report.

by DeMenna & Associates

Arizona Society of Certified Public Accountants 4801 E. Washington St., Suite 225-B Phoenix, Arizona 85034-2021 www.ascpa.com

20

Change your time-wasting habits with these easy recommendations.

by Sandra Wiley

6

Chair’s Message by Armando Roman, CPA

7

Focus on Members

14

In the Black ... Adventures in Accounting

16

New GASB Standards

21

Board Highlights

22 Classifieds

www.ascpa.com

4 AZ CPA y SEPTEMBER 2012

AZ

CPA

The Arizona Society of Certified Public Accountants

President & CEO

Cindie Hubiak

Editor

Patricia Gannon

Copy & Advertising Deadline The first of the month one month prior to publication date.

Board of Directors Chair Chair-Elect Secretary/Treasurer Directors

Armando Roman Karen Abraham Anita Baker Rob Dubberly Debra Johnson Jimmy Lovelace CW Payne George Raysik Craig Robb Andy Spillum Leslie Stackpole Elva Vivas Corrine Wilson Kevin Yeanoplos

Immediate Past Chair Mark Anderson AICPA Council Members Jim Buhr Rick Goldenson Chapter Presidents Southern Chapter Northern Chapter Southwest Chapter North-Central Chapter

Flo Zenblu Jennifer Nordstrom Jayne Wright Richard Joliet

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Accountants (ASCPA) to provide information, news and trends in the profession of accounting. It is distributed 10 times a year as a regular service to members of the Society. The ASCPA, its members, board of directors and administrative staff assume no responsibility for advertisements herein. The ASCPA and the above people also assume no liability for business decisions made by readers in reference to statements and/or claims in advertisements within this publication.

Opinions expressed by correspondents and contributors are not necessarily those of the ASCPA.

Arizona Society of CPAs 4801 E. Washington St., Suite 225-B Phoenix, AZ 85034-2021 Telephone (602) 252-4144 AZ Toll-Free (888) 237-0700 Fax (602) 252-1511

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Chair’s Message

by Armando Roman, CPA

The Legislative Process When a new client walks in my office door, the first question is usually the same: Where can I invest today? That question seems simple enough, right?

Well, that question is no different than another question CPAs get all the time from new clients: How do I pay less taxes? The answer is “tell me more, talk to me.” Or as my college professors used to say, “it depends.” In a narrow view, both questions seem like they should have simple straightforward answers but without knowing the context and the broader picture of the client’s situation, a simple straightforward answer could do more harm than good. Depending on how complex the client’s situation is and his/ her level of sophistication, it may take several hours to answer the simple question: “Where can I invest today?” Some things just take time.

So in a time span of 100 days, it amazes me that our legislators are able to make decisions on the 1500 bills introduced in legislative session. Where do they find the time? Our legislators no doubt have an enormous task at hand.

In a short window of time, legislators do their best to get their arms around an issue. Our legislative process allows any legislator to take a proposed bill to the legal drafter — any bill on any topic.

There is no ferreting out at this point.

The hired guns are legally required to accept that legislator’s proposed bill, even if the bill is blatantly unconstitutional. Under a cloak of sworn silence, the bill is drafted. It then enters the system along with all the others being considered during session. This is an oversimplified synopsis of the process, yet in essence this is the process.

A legislator has an extremely short time to get to the heart of a matter to then make a decision to support or reject a proposed law. I went online to www.azleg.gov to get a better glimpse, perused the FAQs, found an area that allowed for a full text search of bills. I

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searched “accounting” in “bill related documents for current session.” A table four pages long with 328 items appeared. At random, I clicked on one of the 328 and a 33-page bill stared at me. Yikes!

This is why it is essential that we are part of the legislative process. Everyone needs a technical expert to turn to at times.When issues arise at the legislature and we can be a resource in resolving the issue, in providing clarity, we must be at the forefront of the legislators’ minds so they will call upon us. We can then provide the technical expertise, advice and guidance necessary to effectuate the best outcome. If we are not invited to the table, they will make decisions without us. Our Society keeps in tune with the Arizona Legislature, with elected officials on both sides of the aisle regularly. If you have ever wondered why you should support the Society’s political action committee, wonder no more.

With 1,500 bills in a 100-day legislative session, our legislators need our perspective, our technical expertise,

With 1,500 bills in a 100-day legislative session, our legislators need our perspective, our technical expertise, our support.

and our support. We continue to be a valuable resource to them for the good of this fine state.

If you have not contributed to the Society’s political action committee, please consider doing so. While you work, while you play, the Society keeps close contact with our lawmakers, watching the political process to identify opportunities where we can help. All the while, protecting the profession we call ours.

Please become a part of the process by writing a check to the ASCPA Political Action Committee. Thank you. AZ CPA

Focus on Members Phoenix Rotarians roasted Brendan Kennedy, CPA, as the 99th President of the Phoenix Rotary 100. His fellow Rotarians prepared a clever skit to welcome this CPA who is originally from a small farming town in Iowa. In addition to impersonating a farmer, Kennedy has been actively involved with the District Youth Exchange, as he and his family have hosted four exchange students through the Rotary Youth Exchange. He is also passionate about many other Rotary programs, including the Blood Drive, Speech Contest, and Rotary Service.

Henry & Horne, LLP was honored with the title of one of 100 Best Companies in the past decade that have shaped Arizona by BestCompaniesAZ. The list recognizes the top employers in the Phoenix area. Henry & Horne was acknowledged for their belief that a happy workplace results in happy clients.

Mark Schneider, CPA, has joined the firm of Epstein & Reynolds, PLC as a managing member.

Ed Dupke, CPA, who recently retired from CliftonLarsonAllen, will be the American Institute of CPAs Western States Representative to the G-400 firms.

Kevin R. Yeanoplos, CPA, director of valuation services for Brueggeman and Johnson Yeanoplos, is the new chair of the Arizona Board of Appraisal. Yeanoplos was appointed to the board in 2010 by Governor Brewer and was recently elected chair by members of the board.

Moss Adams LLP promoted Chad Shindel, CPA, and Jackson McMeans to assurance senior; Joe Bartlett, CPA, to tax manager and Dustin Beeker, CPA, to senior manager.

Congratulations to Lisa Johnston, CPA, and Katie Marion, CPA, who were both accepted into the AICPA Leadership program.

James G. Busby, Jr., CPA, has been named chair of the Tax Section of the State Bar of Arizona for fiscal year 2012/2013. Busby also participated in a live televised roundtable for the KAET-Phoenix (PBS) Arizona Horizon program, where he and other panelists discussed Arizona’s Transaction Privilege Tax Simplification Task Force and potential changes to state and local sales tax collection. Busby recently spoke at several conferences and seminars on tax issues.

Cheryl Farmer, CPA, was hired as business development director of BDO, USA. Layne Simmons, CPA, was appointed by Governor Brewer to the Arizona State Board of Accountancy.

He replaces Gary Fleming, whose term recently ended.

Tim Little, CPA, was promoted to manager of the Arizona Division for AV Homes.

Lohman Company, PLLC promoted Allison L. Dozbaba, CPA, to tax manager and hired Sarah C. Cambridge as staff accountant.

Dominic Celico, CPA, was hired as vice president of finance of Moses Anshell.

James K. Wilkens of the law firm of Bliss, Wilkens and Clayton has been selected as a Fellow of the Litigation Council of America.

Newsworthy CPAs… “There aren’t too many industries where you can say you have really changed someone’s life.”

– Brian Swartz, CPA, CFO of Apollo Group who was profiled in the Phoenix Business Journal.

A recent Business Journal article about an upswing in finance talent hiring quoted local recruiter, Valdo Melton, saying, “The most sought-after credential is the CPA.”

In Memoriam Paul M. Schwark

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Ed Zollars, Michael Lemme, Gary Williams and Cindie Hubiak met with Arizona Department of Revenue staff to understand the implementation of new Arizona capital gains and depreciation tax laws included in HB 2815 passed by the legislature earlier in 2012. The ASCPA thanks its lobbyist, Kevin DeMenna, for his guidance.

(R to L) Karen McCloskey, Arizona Accountancy Board member, Cindie Hubiak, ASCPA president & CEO, and Monica Petersen, Accountancy Board executive director, attended a recent National Association of State Boards of Accountancy regional meeting.

Thanks to Members Who Have Contributed more than $100 to the ASCPA’s Political Efforts from June 1 to August 7: Karen Abraham Mark Anderson Anita Baker Brenda Brandt Jay Buck Jim Buhr George Cohen Michael Drexler Rob Dubberly Megan Faust Jon Gale David Gifford Richard Goldenson Patrick Greenlee Herb Hoffman David Hopkins Cindie Hubiak Ken Husband Janis Isaacson(Crowell) Adela Jimenez Debra Johnson Tom Johnson Julie Klewer Mark Landy

Jim Lovelace Bryan Mogensen Louie Mukai Ralph Nefdt Julie Norton Dennis Osuch CW Payne Dave Phillips Bradley Preber William Ray David Richardson Craig Robb Armando Roman Layne Simmons Andrew Spillum Leslie Stackpole Ronald Stearns Elva Vivas David Walser Corrine Wilson James Wright Kevin Yeanoplos

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Member Carolyn Sechler, CPA, explains a piece of her artwork at Bokeh Gallery in a one-woman show that opened in July. Carolyn’s show is titled “The Art of iPhonography” where she uses her iPhone to take pictures and manipulates the pictures through applications on the phone, as well as using traditional and experimental techniques.

To view some of her work: go to www.iphoneart.com and look up carolinguini.

I See It! The Clarified Auditing Standards

by Charlie Blanton

Have you ever gazed at the stars and wondered what’s out there, and if something is out there, will it ever visit us? Well, this may not be what you or the Mayans were thinking about, but in December, the auditing world will be invaded by a large mass of new clarified auditing standards. While there is no need to panic, in fact, most of your neighbors will not even know this is occurring, there is a need for all auditors to prepare for this once in an auditing career-type event. As auditors prepare for the new clarified auditing standards, they will need to consider the following essential points.

This is Not the First Time That the Auditing Standards have been Reset and We Survived the Last Time The auditing world encountered a similar event in 1972 with the issuance of Statement on Auditing Standards (SAS) No. 1, Codification of Auditing Standards and Procedures. SAS No. 1 consolidated the prior Statements on Auditing Procedures and more or less reset U.S. generally accepted auditing standards (GAAS) and set a starting point for the auditing standards that we have been following for the past 40 years. A key difference between the old SAS No. 1 and the new clarified auditing standards is that this time the AICPA Auditing Standards Board (ASB) has elected to reset GAAS in a series of standards instead of one SAS. Prior to 2011, the ASB issued four clarified auditing standards consisting of SAS No. 117, Compliance Audits (2009); SAS No. 118, Other Information in Documents Containing Audited Financial Statements (2010); SAS No. 119, Supplementary Information in Relation to the Financial Statements as a Whole (2010); and SAS No. 120, Required Supplementary Information (2010). In 2011, the ASB issued four additional clarified auditing standards consisting of SAS No. 122, Clarification and Recodification; SAS No. 123, Omnibus Statement on Auditing Standards – 2011; SAS No. 124, Financial Statements Prepared in Accordance With a Financial Reporting Framework Generally Accepted in Another Country; and SAS No. 125, Alert That Restricts the Use of the Auditor’s Written Communication. It should be noted that SAS No. 121, Revised Applicability of Statement

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The ability to become a clarified auditing standards superhero already exists within you provided you allow for some preparation and training.

on Auditing Standards No. 100, Interim Financial Information, was not issued as a clarified standard and will be superseded by SAS No. 122.

Some of the Clarified Standards have Already Invaded the Audit Process Because the ASB felt that SAS Nos. 117, 118, 119, and 120 were needed to address pressing issues in practice, these standards were issued with earlier effective dates. SAS No. 117 became effective for compliance audits for fiscal periods ending on or after June 15, 2010. SAS Nos. 118, 119, and 120 all became effective for audits of financial statements for periods beginning on or after December 15, 2010. These four standards related to compliance auditing and supplemental information.

If SAS Nos. 117, 118, 119, and 120 applied to your audits, it is important to remember that you have already successfully implemented several clarified standards as you prepare for the main invasion of the clarified standards. After all, once you have leapt over one building in a single bound, how much harder can the other buildings be?

The Main Invasion is Ocurring in December 2012 Consisting of approximately 800 pages, SAS No. 122 is by far the most significant and the largest of the clarified standards. SAS No. 122 contains requirements that range from preconditions for accepting an audit engagement to audit reporting and subsequent

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events. SAS Nos. 122, 123, 124, and 125 all generally become effective for audits of financial statements for periods ending on or after December 15, 2012. For auditors performing financial audits in accordance with the Yellow Book, the 2011 Yellow Book revision will also become effective for periods ending on or after December 15, 2012.

Two Critical Challenges In implementing SAS Nos. 122, 123, 124, and 125, auditors will face two critical challenges. The first challenge involves becoming accustomed to the different look, language, and location of the clarified standards. The clarified standards have a different look from the prior standards in that each standard contains five sections (i.e., the introduction; objective; definitions; requirements; and application and other explanatory material sections).

The clarified standards employ some different language from that utilized in the prior standards (e.g., emphasis-ofmatter and other-matter paragraphs have replaced explanatory paragraphs).

The clarified standards have relocated and retitled the former AU section numbers to align to the International Standards on Auditing (e.g., the majority of the guidance contained in the former AU 330, The Confirmation Process is now found in AU-C 505, External Confirmations).

The second critical challenge in implementing SAS Nos. 122, 123, 124, and 125 is incorporating all of the actual changes that have occurred in the

standards. The clarified standards contain changes over and above the look, language, and location of the standards.

Some of the changes contained in the clarified standards are significant and will affect everyone (e.g., under the clarified standards the audit reports will incorporate new headings, new paragraphs, and discussions of topics like responsibility for internal control). Other changes contained in the clarified standards are significant and will not affect everyone (e.g., for auditors involved in audits of group financial statements AU-C 600, Special Considerations-Audits of Group Financial Statements [Including the Work of Component Auditors] is significantly different from the former AU 543, Part of Audit Performed by Other Independent Auditors).

The clarified standards also contain changes that while perhaps not that significant, nevertheless are new requirements (e.g., AU 325, Communicating Internal Control Related Matters Identified in an Audit allowed auditors to communicate internal control deficiencies that were not significant deficiencies or material weakness to management. AU-C 265, Communicating Internal Control Related Matters Identified in an Audit, requires the auditor to communicate to management such other deficiencies in internal control that have not been communicated to management by other parties and that, in the auditor’s professional judgment, are of sufficient importance to merit management’s attention.)

Ten Steps to Becoming a Clarified Auditing Standards Superhero When faced with a hurtling mass of new standards, the audit team needs a superhero. You are that superhero! The great news is that you do not have wait for a meteor from space to land in your backyard to provide you with incredible powers of insight into the clarified standards. The ability to become a clarified auditing standards superhero already exists within you, provided you allow for some preparation and training. Ten steps to becoming a clarified auditing standards superhero include: (1) read the clarified standards and any and all commentary about them; (2) make sure you are comfortable with the new look, language, and location of the clarified standards; (3) think about your particular clients and focus on the changes that are going to have the biggest impact on those clients; (4) make sure that your firm’s audit publications, programs, checklists, documentation tools, and training fully incorporate the clarified standards; (5) remember that all superheroes have super friends, so converse and network with other auditors to determine the obstacles they are fighting

with the clarified standards and how they are overcoming them; (6) take a CPE course just on the clarified standards; (7) use your ninja-like powers of concentration to focus on changes that are very apparent to others like report wording, and remember that peer reviewers have similar powers; (8) let your clients know that they are going to see some changes in items like the engagement letter, some of your audit procedures, and the report wording; (9) stay informed of additional developments related to the clarified standards; and (10) remember that a superhero never gives up and always wins! The good news is that, if the past is any indicator of the future, it will be 2052 before we have another resetting of GAAS. AZ CPA Charlie Blanton is the director of Governmental and Nonprofit Product Development for Surgent McCoy CPE, LLC. He is a CPA and the author of several CPE courses including, I See It! Bringing into Focus the New Clarified Auditing Standards and Latest Developments in Government and Nonprofit Accounting and Auditing 2012. He can be contacted at blantonc@cpenow.com.

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SEPTEMBER 2012 y AZ CPA

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2012 Legislative Report

We’ve Arrived!

ASCPA Scores Big in the Legislative Arena for 2012

by DeMenna & Associates The Arizona Society of CPAs has logged legislative victories year after year, and the 2012 legislative session was no exception. But, this year, the Society demonstrated an ability to successfully navigate issues ranging from taxation to professional regulation and more.

In terms of managing public policy, the Society has arrived.

Our legislative goals were as diverse as ever – working to pass good bills, stopping the bad ones, and modifying the ones that could be salvaged. The result this year? Success on every front.

Mandatory audit firm rotation? Purged from the Arizona statutes. Federal income tax conformity? Passed early. New regulations treating CPAs like private investigators? Not a chance. Preferential treatment in the government bidding process? Defeated.

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On the Arizona political scene, the ASCPA has achieved the ability to impact issues traditionally reserved for a modest number of organizations. The Society, along with the Society’s PAC, has achieved a reputation typically reserved for groups with substantially larger memberships and budgets.

The Arizona Society of CPAs – 2012 Legislative Activity Arizona lawmakers introduced a broad array of bills, from the mundane to the bizarre. Many of these quickly found their way on to the Society’s legislative agenda, keeping the ASCPA legislative team very busy.

Mandatory audit firm rotation: Much of this year’s legislative activity focused on repealing Arizona’s first attempt to establish mandatory audit firm rotation. This provision, enacted during the 2011 legislative session, found its way into law through an obscure bill that made multiple changes to the statutes governing charter schools.

The bill included a provision requiring that auditors be changed at least every six years. Before this provision could become effective, the Society’s lobbying team worked with Senator Richard Crandall, sharing information and studies outlining the unintended consequences associated with this requirement. These studies demonstrated an increase in audit failures, higher start-up costs for both the auditor and the client, and a critical loss of “institutional knowledge.” After working with stakeholders from the charter school community and the Arizona State Board for Charter Schools, the Society persuaded Senator Crandall to reverse his position from 2011 and personally sponsor the change eliminating auditor rotation. The outcome was a much more thoughtful approach: instead of mandating auditor rotation, the Society developed a comprehensive approach to assist the State Board for Charter Schools and its staff in reviewing financial information. A member of the ASCPA was also personally appointed by the Governor to the Board for Charter Schools.

CPAs, handpicked by the ASCPA, were appointed to the Arizona State Board of Accountancy, the Arizona State Board for Charter Schools and the Arizona Board of Tax Appeals.

Conformity: Each session, conforming Arizona’s income tax code to the changes made at the federal level is a top priority; and this year the Society managed to place conformity on the Governor’s desk in record time! The Society has worked tirelessly to educate legislators on the need to adopt conformity as early in the session as possible. Leadership and key legislators now have a clear understanding of the additional and unnecessary costs to taxpayers and the State if conformity isn’t a top priority.

Private Investigators: Efforts to revise and expand the laws governing private investigators were led by Senator Linda Gray. The legislation ultimately died, but not before the ASCPA lobbying team had ensured that all licensed CPAs would be excluded from the measure. The commitment to exclude CPAs was critical, but the legislation was arguably unnecessary to begin with – so, better safe than sorry!

Preferential Procurement Practices: The ASCPA successfully stalled legislation that would have provided for preferential treatment in procurement practices, requiring that Arizona based bidders be awarded a state contract if two bids are identical in price.

Service Tax: Sales taxes have been attracting an increasing amount of attention from policy makers. Legislation establishing a Transaction Privilege Tax Reform Committee was closely monitored by the ASCPA. This Commission, established through legislation, will “self-repeal” at the end of this year.

More importantly, it seems to have been overshadowed by a different Sales Tax Study Commission, established by the Governor through Executive Order.

The gubernatorial commission is primarily focused upon the differences between state and local sales tax bases, as well as the issue of Internet taxation.

Both of these efforts are expected to address the taxation of services, although resistance to this change appears to be holding firm.

The ASCPA lobbying team always takes a keen interest in the passage of the annual Tax Corrections Act. The Tax Corrections Act contains technical language intended to correct errors and delete obsolete language dealing with tax laws. The 2012 version of this legislation was especially important as it included provisions from the 2011 version, which was vetoed by Governor Brewer when lawmakers added last-minute substantive policy changes.

Another measure, closely monitored by the ASCPA, retroactively eliminated the unpopular individual use tax declaration requirement. The repeal was enacted just under a year after the requirement to declare the amount on an individual’s income tax return was signed into law.

As always, a number of appointments to various state boards and commissions, many of which require Senate approval, were also facilitated by the ASCPA team this past year. CPAs, handpicked by the ASCPA, were appointed to the Arizona State Board of Accountancy, the Arizona State Board for Charter Schools and the Arizona Board of Tax Appeals.

The Background Noise – A Brief Summary of the Legislative Session The 2012 legislative session saw the introduction of nearly 1,400 pieces of proposed legislation. Capitol observers predicted that the Arizona Legislature’s Republican Supermajority would dominate the focus and direction of this year’s legislative session… and they were right.

Lawmakers introduced measures restricting union activities, allowing guns on college campuses, cutting

SEPTEMBER 2012 y AZ CPA

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2012 Legislative Report taxes and curbing regulation. There were also a number of hotly contested and controversial measures that sought to take control of federal land, require presidential candidates to show proof of citizenship to appear on the State ballot, and prevent any level of Arizona government from adopting environmentalsustainability policies.

Lawmakers were successful in fulfilling their Constitutional obligation to craft and adopt a balanced state budget for the coming fiscal year. After months of negotiations, legislative leadership and the Governor adopted an $8.5 billion budget compromise for the State.

Conservative legislators were unwavering in their commitment to protect Arizona from fiscal unknowns on the not-too-distant horizon. Legislators fought to set aside $450 million of this year’s budget surplus in a “Rainy-Day Fund” in anticipation of the “funding cliff” associated with the expiration of the temporary one-cent sales tax increase. Major provisions of the federal healthcare overhaul are also slated to

come online in 2014 and projections vary about its ultimate cost to the State.

Surprisingly, this legislative session was almost entirely devoid of legislation aimed at curbing illegal immigration and instead focused on border security.

Newly-installed Senate President Steve Pierce, a rancher from Prescott, made it clear at the onset of the legislative session that he would simply like to keep Arizona “out of the news.” Although President Pierce was likely hinting at last year’s never-ending protests and partisan bickering over controversial immigration measures, he still didn’t get his wish. The 2012 legislative session was punctuated by the resignation of a number of lawmakers accused of wrongdoing: Former Senate Majority Leader Scott Bundgaard resigned in January amid an ethics investigation into a physical altercation he had with his then-girlfriend on a Phoenix freeway last year; Former Representative Daniel Patterson resigned after an ethics inquiry revealed allegations of domestic vio-

lence, intimidating fellow lawmakers and legislative staff, marijuana use and even soliciting sex from a lobbyist in exchange for a vote; and Former Representative Richard Miranda abruptly resigned in February, citing health and family issues. Subsequent news reports revealed that he was accused of defrauding a nonprofit and later plead guilty to wire fraud and attempted tax evasion charges.

Despite this consistent flow of controversy, Arizona’s 90 lawmakers managed to complete the basic work of the State and the session drew to a close on May 3, 2012.

One final note: the ASCPA’s professional leadership, dedicated members and committed volunteers are the real source of the organization’s success in the legislative and policymaking arena.

The Society has certainly arrived! AZ CPA DeMenna & Associates is the lobbying firm for the Arizona Society of CPAs. They can be reached at www.demenna. com or (602) 252-4430.

In the Black ... Adventures in Accounting

Arizona State Board of Accountancy

Technology continues to make life easier.

All Arizona CPA license renewals must now be done online.

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14 AZ CPA y SEPTEMBER 2012

The Peer Review Oversight Advisory Committee – Consistency Increases Quality

by Dominic J. Celico, CPA Many professions require their members to complete significant training, continue professional education and adhere to a certain code of conduct to protect the profession and the public. Attorneys must complete the rigors of law school, pass the bar exam, maintain continuing education hours and comply with requirements mandated by state and federal associations. Medical professionals must also undergo a grueling stay at medical school, serve multiple hours of internship and abide by very strict rules and regulations.

Fortunately, the accounting profession requires similar demands of CPAs with respect to their licensure. One of the committees established by the Arizona State Board of Accountancy (Board), The Peer Review Oversight Advisory Committee (PROAC), helps with the oversight of CPAs. The PROAC serves two primary functions: it monitors compliance with Arizona’s peer review requirements, and it conducts an educational enhancement review (EER) for firms not required to undergo the peer review process. An EER requires a registered firm to submit one or more nondisclosure compilation financial statements to the PROAC for examination.

At present, The American Institute of Certified Public Accountants (AICPA) requires a member firm preparing nondisclosure compilation financial statements to comply with the a peer review program, which is different from the Arizona peer review requirements. The Arizona rules only require compliance with the EER processs for nondisclosure compilation engagements. Users of these financial statements may be unaware of this difference. The Arizona requirements take precedent over the AICPA rules and the PROAC believes that the Arizona requirements should be as stringent as AICPA rules.

PROAC has been performing EERs since 2006 and has discovered that more than 50 percent of EERs have been substandard. Many of the compiled financial statements are prepared by registered firms primarily performing tax preparation

services and based on the results of the EERs, are not current with the Statements on Standards for Accounting and Review Services (SSARS) issued by the AICPA. The result of a substandard engagement may result in PROAC recommending that the Board require the registered firm undergo a peer review.

Since the Board is aware of the number of substandard engagements, it has asked the PROAC to present recommendations to remedy the issue.

The PROAC will be requesting that the Board amend the current rules to require registered firms preparing nondisclosure compilation financial statement to comply with the existing peer review standards. If amended, the EER process would likely be discontinued, but there would be uniformity of the peer review requirements of Arizona and the AICPA; all registered firms in Arizona performing any type of compilation engagement would be required to comply with the peer review process. The PROAC will continue to educate the accounting profession through discussion luncheons, additional publications and other means to ensure accounting professionals remain knowledgeable and current on concerns of PROAC. The consistency in the peer review requirements will increase the quality of the compilation engagements in Arizona, which is vital to maintaining the high standards the public expects AZ CPA from CPAs. Dominic J. Celico, CPA, is a member of the Peer Review Oversight Advisory Committee. He would like to thank the members of his committee who assisted with this article.

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Problem with the Board?

Contact: Former Accountancy Board Member

D. Jay Ryan

New GASB Standards On June 25, the Governmental Accounting Standards Board (GASB) approved two new standards (one for governmental pension plans and one for governmental employers) that re-

Attorney at Law City North 5415 E. High St., #200 Phoenix, AZ 85054 (623) 937-3737 or (602)840-8075 (fax) Free Telephone Consult

quire state and local governments, for the first time, to report significant pension-related liabilities on their balance sheets.

Statement No. 67, Financial Reporting for Pension Plans, revises existing guidance for the financial reports of most pension plans. The provisions in Statement 67 are effective for financial statements for periods beginning after June 15, 2013. Statement No. 68, Accounting and Financial Reporting

Mr. Ryan is a former Assistant Attorney General who represented the Board from 1970-72.

The Board’s first lay member/ President (1974-79); Law Committee (1983-1998) ASCPA Honorary Member

for Pensions, revises and establishes new financial reporting requirements for most governments that provide their employees with pension benefits. The provisions in Statement 68 are effective for fiscal years beginning after June 15, 2014.

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PHOENIX: 602.840.4551

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ALBUQUERQUE: 505.998.3200

Stand Out with the Right Résumé With the emergence of personal websites and social media sites like LinkedIn ... just how important is your résumé?

By Bryan Newman, CPRW The importance of a résumé to your career search falls under the axiom “The more things change, the more they stay the same.” Although LinkedIn sites have added a wonderful new dimension to job searches by enabling companies to search for candidates on the Internet, the need for a strong résumé remains a very high priority. Remember, it is your résumé you will send to all of the companies that are advertising to fill open positions that require your skills. You can also send your résumé to recruiters or post it on job sites including TheLadders, Monster, Hot Jobs, Career Builder, and several others. Simply stated, you can best reach the vast majority of job openings using your résumé. And, in the instances where companies contact you through your LinkedIn site, the odds are that they will ask you for a copy of your résumé, since your LindedIn site will probably not contain all of the career information they can get from your résumé. The truth is that in every job search, the candidate should submit the strongest possible résumé to increase the probability of securing an interview.

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When planning a new job search, it is very important to understand the pivotal role that your résumé plays in getting an interview. It is often said that the hardest thing about climbing the ladder of success is getting above the crowd at the bottom rung. The same premise holds true for getting an interview for a new job. Simply stated, unless you have a friend on the inside of the company who will promote you as a candidate, you must rely on your résumé as your ambassador to obtain an interview. Whether we like it or not, it is often the best résumés, and not necessarily the best candidates, that secure the interview. And, even if you do have a friend on the inside to promote you, you still need to equip your friend with a strong résumé to share with decision makers and key influencers. The bottom line is whether you are out of work or ready to move up the ladder, be sure to reinforce your job search with a strong résumé ... one that will differentiate you from the other candidates and increase your probability of getting an interview for that “perfect” job.

As you begin to organize your job search, you may say to yourself, “I just had my résumé rewritten when I got my last job, so I should be able to add a paragraph or two and it will be current.”

If you are as good at writing résumés as you are a CPA, you may be absolutely right. However, writing résumés for 17 years has convinced me that the vast majority of people contemplating career changes are immensely better qualified than their résumés disclose.

The key to writing a successful résumé is to ensure that your résumé tells the reader what you have accomplished that makes you a better candidate for the job than others in your field. Decisionmakers look for candidates whose résumés are crafted around a solid list of career achievements. In order to capture the attention of the reader as quickly as possible, be sure that you summarize your key career accomplishments on the first page of the résumé. Do not make the reader study the entire résumé to find your greatest career accomplishments. If you fail to gain the reader’s

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interest and/or convince them that you are a strong candidate within the first few paragraphs, the battle may be lost.

Unless you capture his/her interest early on, the odds are that they will never take time to read the entire résumé.

Decision-makers look for candidates Here are a few tips that will help you whose résumés are strengthen your résumé by differentiatcrafted around a ing you from other candidates in your field. solid list of career 1) Create your Personal Brand achievements.

Strengthening Your Résumé

to begin your résumé.

The purpose of the Brand is to confirm to the reader that you are qualified for the position for which you are applying. Your Brand should be broad enough to cover all of your target jobs to enable you to use one résumé for submission to all potential jobs. For example, if you are targeting a job as CFO or Controller in a larger company, you could create the following threeline Brand, depending on your career experience: Chief Financial Officer & Corporate Controller With Extensive Experience & Expertise In: Finance & Accounting Management, Treasury Financial Analysis/Budgets, SEC Reporting Beginning your résumé with a Personal Brand similar to the one above will immediately reassure the reader that you possess experience that should qualify you for the positions of CFO and/or Corporate Controller. This format can easily be modified to fit the job(s) you are seeking, as well as your career experiences.

2) Follow your Brand with a compelling Career Summary.

Before you start writing, remember that your key objective is to describe yourself in a way that impresses the reader with your skills and experiences while differentiating yourself from the other candidates. A mistake that many accounting professionals make in writing their summaries is to

write a summary that is so general that it also applies to the careers of all the other applicants. Here is an example of a summary that you do not want to include in your résumé: “Accomplished finance and accounting professional with experience in senior finance assignments in a variety of business areas. Record of effectively administering multimillion-dollar budgets. Excellent leader with a solid record of contributions leading to improved financial performance, increased productivity, and enhanced internal controls”.

Although everything in the above Career Summary is positive, it is probably true of the vast majority of candidate for the positions of CFO or Corporate Controller. Use your Summary to set yourself apart from the rest by being specific about your experiences and career accomplishments. Create sentences like these that describe your career strengths. Try to limit your Summary to five lines: “Proven finance and accounting leader who built and led top-tier organizations for Fortune 500 companies.

Seasoned financial reporting professional who implemented new reporting systems that shortened reporting cycle 50% while providing senior staff with visibility to profits by product, region, and business unit. Public accounting experience managing tax services to premiere clients of a Big Four firm. BSAccounting, MBA-Finance, CPA, CMA, and CIA.”

In five short lines, you have just told the reader several important facts about your qualifications.

3) Add your Career Summary with three to five of your greatest career accomplishments.

To further convince the reader why he/she should interview you for their opening, follow your Career Summary.

Start by making a list of your best accomplishments and select those that apply to the job(s) you are pursuing. To maximize the impact, limit each accomplishment to a one-sentence statement written in the past tense. If possible, use metrics to quantify the benefits of the accomplishments. Begin the statement with bold type to get the reader’s attention. Here are a few examples: Proven Treasury Executive that negotiated the refinancing of bank debt through a $200M private placement that eliminated parental guarantees and improved earnings by $2M. Senior Finance Executive who managed relationships and monitored risk management with key banking partners that provided $500M in funding to the company’s distributors.

Top-Performing Controller that managed the growth of EBITDA from $1.5M in 2010 to $3.1M in 2011 by implementing operational controls to monitor and control expenses.

Congratulations. You have added your Personal Brand, strengthened your Career Summary, and presented your greatest Career Accomplishments. There are also, of course, techniques to that enable you to similarly strengthen the rest of your résumé. You may contact the author if you have questions. AZ CPA Bryan Newman is a Chandler-based Certified Professional Résumé Writer and former Executive Recruiter who has written résumés for Business Professionals for more than 17 years. His prior business experience includes roles as chairman, CEO, and president of U.S. Operations for a NASDAQ-listed technology firm.

Newman’s alma mater, Arizona State University, has inducted him into its College of Business Hall of Fame. Contact at bnewman19@cox.net or (480) 802-0441.

Upcoming ASCPA Conferences Not-for-Profit Conference September 21 — Black Canyon Conference Center Keynote address from the chair of FASB’s NFP Advisory Committee •

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Concurrent sessions include: business ethics; single audit, Form 990, nonprofit accounting and reporting issues; implementing for profit performance management; common financial reporting errors; roadmap for UBIT; and succession planning.

Closing with a governance and transparency panel with time for Q&A

Construction Conference October 19 — Desert Willow Conference Center

Legislative Update with David Martin, president of AZ Chapters of Associated General Contractors • • • • • •

Succession Business Transition Planning Lean Works in Construction Homebuilding – where are we now in the Arizona cycle?

Employee Benefits Tax Impact: Repair vs. Capitalization Economic Outlook

Register at www.ascpa.com SEPTEMBER 2012 y AZ CPA

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Seven Tips on How to Stay Focused

by Sandra Wiley

I believe most of us have days where we just cannot quite make ourselves stay “in the zone.” We find ourselves staring at the computer and all of a sudden “wake up” and realize that we have done nothing for several minutes. Or, we have a to-do list that is quite long and at the end of the day nothing is crossed off so tomorrow looks bleak before it even starts. How do you eliminate these time wasting scenarios from happening to you? It seems that if we could learn – and implement – a few new capabilities we would most assuredly get more done in our day.

The reality for most of us is that we have some time-wasting habits. If we identify, focus and then change them we could most certainly improve our quality of life – first at the office and ultimately in our entire lives. Let’s explore seven simple habits for improving your focus in your firm or business.

Manage Time Better at Work How would you grade yourself when asked about your time management habits? I do not mean only the to-do list and action steps. Those are must haves. You can have them and yet still not stay focused at work. One of the main reasons is because you get distracted by white noise. White noise consists of all of the ongoing communications that clutter your time including emails, LinkedIn, Facebook, Twitter and web surfing. To make matters worse, there are temptations of links sent by friends which may or may not be related to work. What about instant messaging and those old fashioned voice mails and calls? How do you expect to stay focused when there are so many distractions?

Shut these down and see how your focus immediately gets better. We all realize that these are vital business communications, so allocate a time of the day to indulge in these. Take the challenge for one day – shut down all incoming correspondence including phone, Outlook and Internet during the day and only check it at 10 a.m., 1 p.m. and 4 p.m. Allow yourself only a 15-minute window to respond and then shut it all down again. I think you will be amazed at the amount of work you will accomplish.

Get the Small Tasks Out of the Way Do you have small tasks that you think you can put off and come back to later?

Time has an uncanny way of catching up. There will always be a fire to put out.

Attend to small items right away. For example, if someone sends an email to ask for an answer which you have immediately, just reply and get it out of the way.

Try adding the estimated time that you think a task will take to your personal task list. Then, when you find that you have five or 10 minutes between scheduled phone calls or large projects that you are working on, look through your task list

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for those small things that you can do quickly. Crossing off the little things will give you confidence and help you focus on the larger projects.

Take Short Breaks Most of us have a misconception that the best way to focus is to jump in and say, “OK, I will sit, focus and accomplish this project, no matter how long it takes.” The reality is that you need breaks. So take short breaks throughout the day. Research shows that these mini time-outs actually help with our ability to focus more clearly.

Try taking a 10-minute stretch break every 90 minutes. Stand up, stretch, or take a quick walk around the building.

The idea is to wake yourself up and get the blood pumping to your brain so your laser focus will engage again.

Start Early There are many who say that you are either a morning person or a late night person, however I am convinced that this is a choice you make, and making the choice to get an early start is a good one to aid in the area of focus. When you start your day early, you clear out a lot of things before everyone starts to come in and disturbances begin. It’s a good time to clear emails, check your task list for the day, make coffee and read the online newspaper.

One caution on this focus tip, if you make the choice to start your day early, and want some alone time to really focus on the day ahead, make sure you communicate that with others. If everyone starts early, you could find yourself in team conversations and fall right back into interruption mode rather than a productive start to your day.

Prevent Procrastination Most of us have that project, client call, performance review or something that we just keep pushing to the following day. As the Nike advertisement says “Just Do It.” While this is a bit cliché, the reality is that it works tremendously well. Don’t wait and don’t give yourself any excuses. You can get very good with excuses after awhile and things gets pushed and pushed. How can you stay

focused when there are always things that will bother you?

Try this – start working on a project that you have been allowing yourself to push back. As you complete the task, you will most assuredly find yourself having a clearer mind and feeling more confident.

Limit Break Room Chats and Cubicle Conversations I can just imagine some of the owners, managers and supervisors who are reading this saying “GREAT tip,” but be very careful as you implement. You want to increase focus and productivity, but you do not want to decrease motivation, communication and comraderie among your team. We spend more time with our co-workers than we do with our families, and the last thing you want to do is treat your organization like a sweat shop.

As you encourage relationships and discourage chatter, make sure you are present by walking through the office occasionally to ensure that you are not just talking a good game, but also “acting your expectations.” If you see, or if you are, the person that is spending too much time at the water cooler, resist making a new policy for everyone and address the issue one-on-one with the person directly.

Attack the Dreaded To-Do List The best to do list is the one that you will use! Outlook, Excel, project management software, CRM, or the legal pad can all be effective. Use the system you develop and knock off the things you don’t like to do first. Don’t over commit, and if you realize you are over your head, ask for help or delegate to someone who has a passion or technical expertise in that area.

A habit takes 21 days to establish, and focusing on one habit at a time sets the stage for success. Focused success is in AZ CPA your future!

Sandra Wiley is COO and shareholder of Boomer Consulting. She is ranked

by Accounting Today as one of the 100 Most Influential People in Accounting.

She can be reached at sandra.wiley@ boomer.com.

Highlights of Board of Directors’ July Meeting Among other actions at its July 25, 2012 meeting, the ASCPA Board of Directors reviewed the following: Audit Report The 2011-2012 financial report was given by the independent firm of Mayer Hoffman McCann P.C. An unqualified opinion was issued.

Consent Agenda The consent agenda, which included the board minutes, financial statements and nominating committee members, was approved.

Mandatory Peer Review Discussion Cindie Hubiak and Adela Jimenez apprised board members of an option the Arizona Board of Accountancy is considering, which is to require peer review for issuers of non-disclosure financial statements. The board engaged in a spirited discussion.

Arizona CPA Foundation Investing A motion was approved to work with the Arizona Community Foundation to invest a portion of the funds in equities and to revise the policy to reflect the change in approach.

Field Trip to the Kachina Room Jena Ford, ASCPA CPE director, updated board members on the improvements made to the learning center, including installation of overhead microphones and lighting to enhance the webcast experience.

Additional remodeling and sound-proofing of the walls was completed, among other items.

A Day in the Life Board members appreciated hearing from fellow board members Jim Buhr, Anita Baker and CW Payne on the challenges and joys they experience in their jobs.

Other Business Cindie reminded the board of several upcoming Behind the Scenes and networking events scheduled in Phoenix and Tucson.

If you have questions or would like additional information, please contact Cindie Hubiak at (602) 324-2888; AZ toll free at (888) 237-0700, ext.

203; or chubiak@ascpa.com.

Behind the Scenes with...

The Fiesta Bowl — Oct. 4 Register at www.ascpa.com SEPTEMBER 2012 y AZ CPA

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Classifieds Business Opportunities/ Practices for Sale WE BUY CLIENTS—Our CPA firm is seeking to buy clients in increments of one to a small practice in the Scottsdale and Phoenix Metropolitan area. Our staff has been practicing in public accounting for more than 30 years and specializes in the small- to medium-size business needs. We emphasize business accounting and taxes.

We are located near Thunderbird and Scottsdale Rd. If you are downsizing or retiring and want an easy transition, please call us today. Ask for Kara at (480)-990-2727.

TUCSON CPA FIRM LOOKING TO ACQUIRE SOAZ CPA FIRMS— Tucson CPA Firm looking to acquire Southern Arizona CPA Firms. Contact Jeff Quick - info@quickcpas.com.

Employment Opportunities Chief Financial Officer (CFO) Arizona Restaurant Supply, Inc.— Chief Financial Officer responsible for all financial matters of a $30M Company based in Tucson.The CFO will be a seasoned and mature leader with 5-10 years of broad financial experience. Reply to daphne@azrestaurantsupply.com.

O U T S TA N D I N G A U D I T A N D CONSULTING OPPORTUNITIES! Heinfeld, Meech & Co., P.C., recognized leaders in governmental and non-profit auditing and consulting, seeks CPAs for Associate and Management positions for our growing Audit & Consulting Divisions in our Phoenix and Tucson offices. Nationally recognized on the “25 Best Small Companies to Work for in America” list by the Great Place to Work Institute for the past five years, H&M offers a dynamic culture with outstanding career growth opportunities. A BS in Accounting and at least two years of accounting, auditing or consulting experience specializing in governments/non-profits along with CPA designation is required.

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http://www.heinfeldmeech.com.

Entry Level Tax Professional— Wallace, Plese + Dreher, LLP— We are a local CPA firm in Tempe, looking for an Entry Level Tax Professional with a BS in Accounting or Finance to join our team! Responsibilities include preparation of individual, corporate, partnership, and other income tax returns. This position may also be asked to perform tax research, including the preparation of tax research memos.

Our Firm offers a competitive salary, outstanding benefits package and the professional environment that supports your development and recognizes your achievements. If you are energetic, motivated, and excel at your profession, we encourage you to apply. This is a fulltime position. http://www.wpd-cpa.com.

Experienced Tax Professional—Wallace, Plese + Dreher, LLP. We are a local CPA firm in Tempe, looking for talent to join our team!

Responsibilities include preparation of individual, corporate, partnership, and other income tax returns and perform tax research, including preparing tax research memos. • BS in accounting or finance • 2+ years experience with public acctg firm • CCH ProSystem fx tax software preferred • strong verbal and written communication skills • CPA certificate, or working towards it We offer a competitive salary, outstanding benefits, and the professional environment that supports your development and recognizes your achievements. If you are energetic, motivated, and excel at your profession, we encourage you to apply. http://www.wpd-cpa.com.

Audit Senior—Wallace, Plese + Dreher, LLP. We are a local CPA firm in Tempe, looking for an Audit Senior to join our team who is currently working in public accounting. Our clients represent a variety of industries such as manufacturing, distribution, nonprofit, real estate, construction, and professional services. Our Firm offers a competitive salary, outstanding benefits package and the professional environment that supports your development

and recognizes your achievements. If you are energetic, motivated, and excel at your profession, we encourage you to apply. This is a full-time position. http:// www.wpd-cpa.com TAX PREPARER—Part or Full Time —Small North Scottsdale CPA firm is seeking a part time or full time tax preparer. Experience in QuickBooks, Lacerte, and Drake software a must, as well as thorough knowledge of individual and business tax return preparation and review. Please email your resume and salary requirements to: scottsdalecpa85260@gmail.com.

ACCOUNTANT—Part or Full Time— Small North Scottsdale CPA firm providing accounting and consulting services is seeking a part time or full time accountant. Experience in QuickBooks, Lacerte, and Drake software a must, as well as thorough knowledge of individual and business tax return preparation. Must be a critical thinker, problem solver and detail oriented.

Please email your resume and salary requirements to: scottsdalecpa85260@ gmail.com.

Tax Manager —Thomson & Company CPAs & Business Advisors, P.C. Thomson & Company is searching for a tax manager for their Phoenix office.

We have an opening for a CPA with five to 10 years of tax experience in public accounting. Your role will involve reviewing returns plus responsibilities for income tax and estate and business planning for businesses and their owners. We have a focus on agriculture and its related industries. The ideal candidate will have experience serving the agricultural industry, though that specific experience is not a requirement.

Experience with ProSystem tax and engagement software is a plus. http:// www.thomsoncpas.com/ Accounting & Business Manager—Action Imaging Group - http:// www.actionimg.com - Tucson office equipment retailer has an immediate opening for proven leader with strong

accounting and management background. Fast-growing company seeks a high-impact individual as a key member of its management team. An ideal skillset will include process improvement, business planning, budgeting, financial statement preparation, tax compliance, risk management, team and relationship building, and community outreach.

Requirements: 10+ years experience, BSBA or similar, highly skilled with MS Excel and accounting software; private-sector experience a plus. Must pass background check. Please send cover letter and resume to: jwoloshin@ actionimg.com.

Office Space CPA/CFPSTRATEGIC TAX PLANNING 1) Would you be willing to office with us and do tax preparation for our clients either as a subcontractor or full time employee?

2) Are you interested in offering other services to your clients to generate some residual income you currently don’t have? 3) Office with us in our new state-of-the-art facility (view video on the front page of our website. We have up to 6 offices available for lease. 4) Do you know of anyone looking for a firm like ours to do the proceeding? Reply to sandra@strategictaxplanning.com NW TUCSON PROFESSIONAL OFFICE SUITE FOR LEASE—This office suite is located in Plaza Serena, a professional center for business one block west of Oracle and one block north of Magee in Oro Valley, a flourishing community at the heart of Tucson Arizona’s northwest side. Plaza Serena has a balance of natural and urban settings with Pusch Ridge and the Catalina Mountains in the foreground, a garden atmosphere surrounding the complex and access to the Oracle Rd. corridor. In addition to prime location and pristine geography, this office suite boasts many amenities that make it the most complete and competitive package available. View listing: www.heiseycpa. com/officeforrent .

$2400 / 1250FT² - NORTH SCOTTSDALE “CLASS A” ENSEMBLE WITH FINANCIAL FIRM- Scottsdale Financial Services Firm seeks CPA / Accounting practice for sublease / shared space.

Available space ranges from 400 feet to 1400 feet within a 2300 sq ft existing lease in a beautiful class A office space in north scottsdale. Rent Includes: Electric, COX high speed and internet phones, Covered parking spaces, Printer / Fax / Scanner. Features:Furnished Conference Room, Break Room / kitchen, 24-hour access. Contact Tyler or Pat at (480) 661-1236 for more information.

LOOKING TO SHARE OFFICES Sole Proprietor in Tucson looking to share office in Tucson with other fellow practioner. Also looking to sub lease an office in the Chandler area with the purpose of growing a firm in this area Please contact Nikkijb@q.com.

SHARE OFFICES WITH FELLOW CPAs - In central Phoenix-near 51FWY. Large executive offices plus staff cubicles. Shared conference room, reception, breakroom, high speed data lines/ telephones, tax research services, ect.

Immediately available. Contact Jason Feldman (602) 850-5110 or Jason@ acre.biz.

Miscellaneous ESTATE/GIFT/GST TAX RETURNS AND PLANNING ISSUES POSE A

CHALLANGE FOR YOU? I can work with you or your client. Estate planning & compliance is not a science; it’s an art.

Let’s make a better plan! Ira Feldman, CPA/CVA/CEP (602) 850-5101 or ira@ felco.biz or www.felco.biz.

RESUME SERVICES—IT MAKES A DIFFERENCE WHO WRITES YOUR RESUME. Chandler-based Certified Professional Resume Writer Bryan Newman, has been writing resumes for Business Professionals on four continents for 17 years. Clients include all Business Professionals including CPAs pursuing positions as CEO, CFO, COO, VP Finance, Controller, Treasurer, Accounting Manager, Business Intelligence Manager, Financial Analyst, Audit Manager, and Senior Accountant.

Credentials include roles as Chairman, CEO, President of US Operations for a NASDAQ-listed technology firm. Member, ASU College of Business Hall of Fame. Email resumes to bnewman19@ cox.net for complimentary critique or call (480) 802-0441. Ask about our ASCPA member discount.

To place a classified ad, go to www.ascpa.com and go to marketplace; for employment opportunities go to the Career Center.

Arizona’s best resource since 2000 for

Cost Segregation Studies (480) 963-2872

costseg@costsegstudy.com www.costsegstudy.com

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Arizona Society of Certified Public Accountants 4801 E. Washington St., Suite 225-B Phoenix, AZ 85034

PRSRT STD U.S. Postage PAID Phoenix, Arizona Permit No. 952 ADDRESS SERVICE REQUESTED

MARTHA PATRICK, JD Federal, State and Local Tax Controversy

bcattorneys.com Burch & Cracchiolo, P.A. 702 E. Osborn Rd., Suite 200 Phoenix, AZ 85014 602.274.4611 Direct: 602-234-9939 mpatrick@bcattorneys.com

“With nine years of experience with IRS Chief Counsel and 25 years of experience representing taxpayers, I appreciate the important role CPAs play in getting the best possible results for clients.

Much of my work is referred by CPAs, whom I assist in all aspects of tax controversy, including civil examinations, Tax Court proceedings, both potential and active criminal investigations, currency violations and collection issues.”

Certified Specialist in Tax Law, Arizona Board of Legal Specialization Recognized by: Best Lawyers in America, Southwest Super Lawyers, Arizona’s Finest Lawyers Ranked AV® Preeminent™ 5.0 out of 5* in Martindale Hubbell *AV® Preeminent ™ and BV® Distinguished™ are certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies.

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