SEPTEMBER | OCTOBER 2022 7 TIPS FOR STARTING A CLIENT ADVISORY SERVICES PRACTICE 6 Life Lessons in 6 Months of Working In DEI Evolution of the CPA Exam
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You may not think of it this way, but you spend a lot of time evaluating the value of items and services.
Guidance out for BID & SALT bills, OSCPA joins fight for muni tax refunds
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More than four years in the making, and many years in the planning, changes from the CPA Evolution model have been incorporated in a draft U.S. CPA examination framework.
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The White guy in the room: 6 life lessons in 6 months of working in DEI
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When we’re going through these times in our lives it might be easy to look inward and think we can do it all ourselves. But we benefit so much from sharing and asking for support from others. There is connection and growth found in these moments, and you might be pleasantly surprised at how willing people are to lend a hand.
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In addition, Gov. DeWine signed in June OSCPA-supported Senate Bill 246 and House Bill 515, also known as the SALT and BID bills respectively.
ADVOCACY in focus
OSCPA filed an amicus brief on Aug. 10 to support taxpayers in their efforts to obtain 2020 municipal income tax refunds based on the Society's position that taxing persons who neither work nor live in a jurisdiction is unconstitutional.
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In the amicus brief, OSCPA argues that the cities are “effectively interpreting R.C. 718.011 and Section 29 as a taxing provision, or in the alternative, as a situsing of where income was earned provision, but that is not what R.C. 718.011 or Section 29 says or means. R.C. 718.011 is not a taxing provision, nor does R.C. 718.011 situs where income is earned for purposes of imposing tax. It is a safe harbor to simplify employer withholding. It clearly states that the deemed location is “for purposes of division (B)(1)” - (where the 20-Day Withholding Exception is codified) and does not determine the ultimate taxability of the wages in the hands of the employee.”
Guidance out for BID & SALT bills, OSCPA joins fight for muni tax refunds
Section 29 and R.C. 718.011 of House Bill 197, a 2020 law change early in the pandemic, was intended to address the significant withholding challenges faced by employers of workers who suddenly were working remotely – often outside the city where the business itself was located. However, many cities where the money was withheld refused to grant refunds to the remote taxpayers.
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released an initial round of guidance on the SALT deduction cap parity. Also, ODT recently presented at a conference where they provided further details on both the SALT and BID bills.
SEPT | OCT 2022 | 5
The SALT cap parity bill levies a tax on a pass-through entity's income apportioned to Ohio and authorizes a refundable income tax credit for an owner for such tax paid. S.B. 246 takes effect on Sept. 13, 2022.
The Ohio Department of Taxation is expected to issue more guidance on both H.B. 515 and S.B. 246. To date, ODT
IRS Notice 2020-75 is what allowed states to enact legislation to clarify that taxes paid by a PTE do not count towards an owner’s $10,000 state and local tax limitation deduction for federal income tax purposes.
The BID bill clarifies that gains from the sale of an ownership interest in a business is considered ‘business income” for Ohio income tax purposes, and thus eligible for the BID. The sale must satisfy either of the following: (1) the sale is treated for federal income tax purposes as the sale of assets – i.e. 338(h)(10); or, (2) the seller was involved in the day-to-day management (material participation) of the business during the taxable year in which the sale occurred or during any of the five preceding years.
H.B. 515 is a remedial measure intended to clarify existing law. It also applies to any petition for reassessment or any appeal thereof; to any application for refund or any appeal thereof pending on or after the effective date; and to any transaction that is subject to an ODT audit on or after the effective date of Sept. 23, 2022.
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DIVERSITY equity & inclusion
| CPA Voice
The White guy in the room: 6 life lessons in 6 months of working in DEI
SEPT | OCT 2022 | 7
My personal beliefs align with my organization’s principles. If there is a thought to sum up today’s world, look no further than the eminent writer/philosopher Henry David Thoreau, who said: “Things do not change; we change.” This is where the rubber meets the road. We all have the power to create a better world, even when those around us don’t understand our choices.
Perhaps not a natural step for most people, but as I explain what we do and how important it is, listeners usually move from quizzical to supportive. Their frowns and glassy-eyed looks turn positive once they get it. And I fully understand why. Several years ago, if someone had told me a similar story, I probably would have reacted the same way.
A wholehearted “yes” here, particularly if diversity is expanded to its full meaning beyond a catch-all term for race. Yes, I am a White guy in DEI. I don’t need anyone to throw roses at my feet as I pass by. It’s a great job that fulfills the same do-gooder instincts I had while teaching but allows me to reach exponentially more people.
Let’s move past the first issue…can a middle-aged White guy be an ally and work in diversity, equity, and inclusion (DEI)?
After 16 years of college teaching and a lifetime of writing books, this was the reaction 99.9% of the time when I told friends and colleagues that I was joining The Diversity Movement — a little shock, a bit of wonder, and a lot of implied “why would a middle-aged White guy do this?”
By Bob Batchelor
“Umm…wait a second, you’re doing what?”
In other words, people are watching! If a company creates a bunch of commercials featuring Black or Asian actors using their products, but the leadership team isn’t diverse, stakeholders take notice. The effort must be meaningful because people are finely tuned to sniffing out when the work is being done merely for compliance.
In other words, acting critical is not what critical thinking is all about. Instead, it is the willingness to reassess your own views. While most people think they are strong critical thinkers, their self-assessment may be based on an illconceived definition of that term.
The amazing thing about studying critical thinking is (a) learning that most people have no idea what the term really means, and (b) finding that the majority of people create their belief systems as early teenagers and NEVER really deviate far from their teenage worldview. However, the best way to think about applying critical thinking is to view it as being critical of one’s own thinking.
3. The joy of teamwork and teammates
Have I learned a few things? It’s only been six months, but there are some lessons that I think others who are contemplating the DEI journey in contemporary America will find beneficial. Here are six:
As such, it’s important to realize that DEI campaigns and culture change initiatives task employees with questioning many of the fundamental beliefs they have cemented over lifetimes. The work may have a transformational consequence, but it cannot happen all at once. Changing a person’s worldview takes time, persistence, and understanding that the journey isn’t uniform and may not even be sequential or straightforward, despite the mostly-agreedupon end goal of a more just and equitable workplace and society.
Perhaps more than ever before, people demand authenticity. What does “authentic” mean for organizations in this heightened environment? The answer in terms of DEI is that words, images, and actions must equal reality. Employees, customers, prospects, and other stakeholders are not going to blindly fall in line with what organizations project externally if there aren’t also meaningful efforts behind the chatter.
5. “Diversity fatigue” is real — and harrowing
4. Pushing beyond the checkbox
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1. Learning never stops
Another aspect of my learning trajectory is engaging with teammates who have life experiences and expertise in areas different than mine. For example, I’ve learned more about leadership (in DEI and generally) from actively listening to our CEO, Donald Thompson, than in the dozens of books or thousands of articles and essays I’ve read. I’ve learned more about being an empathetic leader from watching how Jackie Ferguson manages our team better than I could have ever
Theimagined.joyin
By nature, I am a realistic optimist — someone who anticipates better days ahead but has been kicked around enough to know that a brighter future requires collective hard work. In today’s “us vs. them” world, the issues the media pays attention to are inevitably divisive and (seemingly) showcased to increase discord. DEI is one of those media footballs (see the coverage of everything from George Floyd statues being defaced to portrayals of Critical Race Theory).
about context. Like a great jambalaya, there are lots of ingredients that can be thrown into the pot, simmered together, and wind up tasting great. I ask myself how I might pull in new information to expand my own worldview and create perspectives that better enable me to see and feel this work. Constant learning necessitates constant openness, even when the topics get emotional, personal and challenging.
2. Meet people where they are
What makes humans unique is the ability to think — and to think about what we are thinking. Yet, that skill is only as useful as a person wants it to be. I have a doctorate and have spent my life working as a cultural historian and author, but each day, I learn something new or uncover a hole in my Foreducation.me,it’s
these experiences is that I’m open to ingesting the lessons — truly open — and not just paying lip service to new ideas (especially at an age when most White men like me [in their heart of hearts] are pretty closed off). My teammates and I don’t know everything or even pretend to know a lot, but we learn from one another every day, and I am a stronger thinker and ally because of the knowledge they are willing to share with me.
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The important idea here is that we’re not even in the first microsecond of an era that has DEI at its center. If there is fatigue, it must be countered with inclusive leadership at every level that champions its significance in organizations, communities, families, and neighborhoods.
At the same time, people are blasted with tens of thousands of new images, ideas, and impulses every day. Even topics as critical as DEI eventually face backlash as people throw up their hands. My hope is that diversity fatigue is being triggered by backlash against controversy (our self-perception as futuristic, problem-solvers), not a cynical indication that people are inherently self-consumed or hateful.
6. Building workplace excellence
From this perspective, DEI initiatives benefit organizations not only by increasing brand reach, loyalty, and profits, but also by creating more just and equitable internal and external cultures. People working in stronger cultures are universally more productive, creative, and eager for the organization’s long-term success because they are physically and emotionally invested. Thus, a culture shift that utilizes DEI as a tool to unlock personal and team greatness leads to a better — more excellent — workplace.
Bob Batchelor (he/him) is an award-winning communications strategist with an extensive background in executive communications and content creation.
10 | CPA Voice
A key takeaway for me over the last six months is that diversity is so much more than race, although this is clearly not what most people think of when they hear the word. Recognizing that diversity stretches to include so many additional factors — from economic inequality to gender rights, ageism, and disability, for example — gives us a better way to conceptualize diversity’s role in what The Diversity Movement calls workplace excellence.
These are only some of the lessons I’ve learned in my first six months in the DEI space. I’m excited and humbled to think of what the next six months and years will teach me. As a person who is committed to lifelong learning, understanding the context and practice of DEI — especially considering the historical moment we’re in — has been a strenuous learning curve, but also greatly satisfying. DEI isn’t only about people or profits. It’s also about unlocking potential.
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Whether you shop at traditional brick-and-mortar retail stores or online, you’re selecting items and determining if they’re worth the price on a weekly—if not daily—basis. Some items may be put back on the shelf or deleted from your virtual shopping cart because you’ve determined they won’t provide a value that justifies the cost. Stated another way, you’re unwilling to give more than you believe you’re getting in
thinking about how you’ll create value for your employer. Employees who create value on a sustained basis are rewarded with additional compensation, increased responsibility, promotions, and other opportunities.
A great way to develop a value creation mindset is to think like a business owner. Challenge yourself to evaluate how you would handle a situation or what you might do differently if it were your business, and you were going to be directly impacted by the outcome. Chances are, you’d be laserfocused on being as productive as possible every day if you were self-employed. It should be no different when you’re working for someone else. By the way, this is also an excellent principle to follow when making decisions about business expenses that’ll be reimbursed by your employer, as in, “Would I be choosing this hotel if it were my own money I was spending?”
You may not think of it this way, but you spend a lot of time evaluating the value of items and services.
It’s critically important to understand this fundamental economic reality because it’s not unique to the accounting profession. If you want to be successful, get up every day
By Jerry Maginnis, CPA
How to build a value creation mindset
12 | CPA Voice CAREER center
Whilereturn.we
make these kinds of decisions all the time, we often don’t realize that the employer-employee relationship follows a very similar process. When you get hired by a firm or company, its leaders are making an initial judgment about your value. While many factors enter that assessment (including your education and experience and the current talent pool), the employer is essentially evaluating whether the value you’ll create for the organization matches the compensation and other costs it’ll incur by hiring you. Your employer continues to assess your value during periodic performance reviews, leading to a raise, a demotion or pay cut, a furlough, or termination.
Unfortunately, a lot of accounting professionals don’t possess—or at least don’t exhibit—a value creation mindset. Too often, in fact, they have it backwards. They expect their employer to do things for them first, as in, “Give me a raise and I’ll show you what I can do for you,” or, “After I get promoted, I’ll demonstrate how I can perform at a high level.”
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14 | CPA Voice
• Identify opportunities to grow top-line revenue.
Each day presents opportunities to add (or subtract) value. Be mindful of this reality because, over the long term, your ability to add value will be the key determinant of your success. The more value you add or create, the more successful you’ll be! Whether you work in public accounting, corporate finance, government, or nonprofit, having a value creation mindset will contribute to your success and help position you as a trusted and strategic business adviser.
Challenge the Status Quo
Two of the biggest assets we possess are our technical skills and fresh eyes. The combination can be extremely powerful if you’re willing to take the time to offer feedback. Look beyond the numbers and the basics of the tasks you’re performing to see the bigger picture. Again, think like an owner. A couple of examples:
Regarding the last point, don’t hesitate to raise your hand and offer your employer a suggestion for how to improve operations. It’s a great way to add value and distinguish yourself. Too often, new or relatively inexperienced employees are hesitant to do this. This could be because they lack confidence or, perhaps, they’re not thinking like an owner. They may not appreciate that their fresh set of eyes will often spot opportunities to enhance practices that are due for an overhaul. They may also not fully appreciate that there are certain things they may know more about than others who have more tenure with the organization. Here’s an insider tip: It thrilled me when our younger professionals at KPMG would share ideas or suggestions. Often, they were good ones we’d seek to implement. But even when they weren’t, I’d show gratitude and encourage the team to keep the ideas coming! Here are three concrete ways to build a value creation mindset.
• You’re assigned to prepare the individual federal and state tax returns of a high-net-worth individual. As you work through the return, you notice several tax planning opportunities that, if properly implemented, will enable them to save money in the coming year. Do you make the time to schedule a meeting with the client to explain the opportunities? The correct answer is a resounding, yes! That’s added value!
Reprinted with permission from the Illinois CPA Society. Jerry Maginnis, CPA, is a retired KPMG audit partner and the author of “Advice for a Successful Career in the Accounting Profession: How to Make Your Assets Greatly Exceed Your Liabilities,” a guide for college students and early career professionals.
Here are just a few ways to create value for your employer:
Most organizations have a formal annual evaluation process to provide feedback to employees on their performance and establish professional development goals. Some more progressive organizations do it twice a year. My view is this is way too infrequent to be of value. In a fast-moving business world, you need to be at your best every day. To perform at a high level, you need frequent feedback and development. High-performing organizations are getting better at building more frequent feedback loops into formal HR processes, but most aren’t there yet. There’s a simple solution to this: Regularly ask for feedback! Ask your direct supervisor. Ask your clients. Ask your colleagues. Most will be willing to be candid and can help you course correct and seek professional development opportunities sooner rather than later.
• Assess how a rapidly evolving technology landscape will affect the business.
• Deliver exceptional service to your clients.
Provide Feedback
Continually Develop Yourself
Too many people accept the ways things are done without thinking critically about whether they can be done better or more efficiently. Get in the habit of challenging and questioning the status quo. This doesn’t mean being hypercritical, but it does mean that you approach each task with an open mind and an awareness of the possibility for improvement. When you do identify an issue or problem that needs to be corrected, try to figure out how to address the matter and fix the situation. Leaders help solve problems as opposed to complaining about them! Act like a leader and you’ll be proactively managing your career in a fashion that helps you achieve success.
• You’re a junior auditor assigned to review a company’s accounts payable process. One of your specific tasks is to develop a flowchart and document the client’s procedures. You’ll also confirm your understanding of existing workflows by interviewing their personnel. As you walk through their processes, ask yourself: Is there anything that can be done better or differently? What controls can be streamlined or enhanced? Can the processes be made more efficient? Is the organization using the data and information generated by these processes in a strategic fashion? There are many opportunities to add value and position yourself as a strategic business adviser if you adopt this mindset.
• Mentor, motivate, and inspire your fellow employees.
SEPT | OCT 2022 | 15 Call or Email Today to get started and see how simple it can be with APS working for YOU. Delivering ResultsOne Practice At a timesteve@APSmidwest.com800-272-7355www.APS.net awithoutaImagine...chairdesk Call today for a free, confidential valuation of your practice. Women, Wealth & Wellness 2022 Annie Yoder , Rea & Associates Betty Collins , Brady Ware & Company Dani Gisondo , Marcum LLP Donna Sciarappa , RSM US LLP Ebonie Jackson , Lucas County Children Services Jennifer Yaross , Nationwide Kelli Bernstein , Meaden & Moore Kim Zavislak , KPMG LLP Lori Kaiser , Kaiser Consulting Mary Kim Elkins , Eaton Corporation Michal Marcus , HFLA of Northeast Ohio Rachel Wojtkun , Grant Thornton
In the U.S, the SEC requires public companies to disclose certain ESG information –including climate and human capital risks – if it is material to an understanding of the business. In July, SEC Chairman Gary Gensler said he wants mandatory disclosures of climate risks and diversity.
new business from the ground up: To do so, firms need to think through everything from the technology they use to how they bill clients, track time, hire and train staff, package and market their services, set goals, and assess their progress.
By Courtney L. Vien
Though the prospect of starting what's essentially a new business within your firm can seem daunting, the good news for firms thinking of adopting CAS is that others have paved the way. CAS is a mature enough area now that firms can draw upon the experiences of early adopters and take advantage of the resources organizations have developed to help them succeed. Here, CAS experts, and firms whose CAS divisions are already underway, share what firms should know before taking the CAS plunge.
One of the biggest challenges firms face when starting to offer CAS is being open to rethinking the way they do business. To do CAS the right way, "you've got to shift the way your communication works," said Dixie McCurley, principal, digital advisory, CAS leader at Cherry Bekaert, who frequently leads CPA.com's CAS Roadmap Workshops. "You've got to rely on software that does things that you haven't ever had to do
BUSINESS management & strategy
16 | CPA Voice
3.
The term "client advisory services" refers to a variety of services CPAs can provide, ranging from outsourced business processes (the "virtual back office") to advisory services to virtual CFO and controller services. Clients also became more accustomed to sharing financial data remotely during the COVID-19 pandemic, making them more amenable to virtual accounting. A 2020 survey by CPA.com revealed that advisory and consulting is clients' greatest unmet need, with 29% of clients saying they need this service. If price were no issue, 68% of clients would want their CPA firms to give them strategic consulting, the survey found, whereas 41% would want firms to manage some of their financial operations. Adding CAS can also help firms make more money: Clients who do not use advisory services spend an average of $1,108 per month with their CPA firms, but clients who do purchase advisory services spend $1,585 a month, or 43% more. But starting a CAS practice is a decision that demands commitment. CAS is not a trend to jump on but a different way of relating to clients, one that requires a very different business model than the one traditional CPA firms operate under. Launching a CAS division is almost like creating a
Be prepared to adopt a whole new mindset
ESG reporting is on the rise and an increasing body of research shows a positive correlation with financial performance. Furthermore, investors are interested in it, and enterprises are seeing that ESG reporting is a good way to communicate purpose, connectivity and impact.
7 tips for starting a client advisory services practice
Many CPAs will have heard the compelling reasons why now is an opportune time to offer client advisory services (CAS).
1.
The IFRS Foundation is forming a new International Sustainability Standards Board (ISSB) to develop a comprehensive global baseline of high-quality, transparent, and globally comparable sustainability disclosures that are compatible with the financial statements and specialized for various industries.
2.
Withoutdo."
a niche can also help firms focus their marketing efforts and choose the right software. It can also help a firm streamline its processes, something ACT Services realized when it chose to specialize.
Expect a slow ramp-up
Because starting a CAS practice is such a complex undertaking, firms need to fully commit to it for it to thrive. "If you're going to do it, you've got to go all in," Fuqua said.
Havingon.
That means dedicating money, staff and hours to the CAS endeavor. Ideally, have someone devoted to CAS full time, Merhib said. Though you may start off having a staff member from a different area working part time on your CAS initiative, that's not sustainable in the long run, he said.
deep knowledge of an industry, CPAs won't be able to provide the types of business insights CAS demands. But acquiring this knowledge takes time, effort, and experience. To be an effective adviser, a CPA might need to become intimately familiar with a given sector's processes, risk factors, customer types, KPIs, regulatory environment, and so
Many resources now exist to help firms that are starting to offer CAS. Organizations, including the AICPA, have created materials firms can use to learn about CAS and offer training programs that cover everything from pricing to staffing to how
CAS 1.0 involves offering outsourced accounting: accounts payable/bill paying, accounts receivable/collections, and cash management and reconciliation. Taking this step first "puts
Make a strong commitment to CAS
After becoming comfortable with outsourced accounting, firms often move on to what she terms "CAS 2.0," or offering outsourced CFO services. In this stage, "they'll be getting their cadence down and then scaling it," she said. It's after this point many firms transition to CAS 3.0, or assisting clients with business strategy and decisions.
Firms that start CAS practices generally follow a certain progression, McCurley said. They go through stages she terms "CAS 1.0" through "CAS 3.0" and can expect to spend months to years in each stage before finding themselves ready to take the leap to the next.
before, like customer support. You may add new roles, such as project manager or client success advocate. And you've got to put in processes that help you scale using systems instead of people."
Don't reinvent the wheel
SEPT | OCT 2022 | 17
The staff who work on CAS engagements should be prepared to work much more closely with clients' organizations than they had previously. Staff will go from meeting with a client once a quarter or year to knowing where clients' businesses stand daily and providing them weekly insights, McCurley
you in the daily heartbeat of clients' transactions," McCurley said. "Firms should come into [CAS] knowing they are going to be doing CAS 1.0 for a year or two."
Many firms do some form of bookkeeping for clients. Bookkeeping isn't considered "true" CAS, McCurley said, as it happens after the fact and does not provide clients with timely data they can use to improve their businesses. That said, she observed, quality bookkeeping is still the foundation on which CAS rests.
Firmssaid.
may also need to reevaluate their mindset around pricing. That was a big change for ACT Services, an 11-employee firm in Indianapolis, said Mark Fuqua, CPA, CGMA, the firm's manager of client accounting and client advisory services. "We had to step back and look at the value of the services we were providing, not just how many hours we spent" on an engagement, he said. ACT Services now offers CAS clients four packages starting at different price points, with room for customization.
Most firms that offer CAS serve either one or a small number of niches — and for good reason. "Clients want specialists, not generalists," McCurley said. "They want their CPAs to speak the 'language' of their industry almost as well as they
Find a niche
Before offering CAS, firms need to spend a good deal of time learning about the business model it requires and what changes they need to make, said Kalil Merhib, vice president of sales and marketing at CPA.com. He suggests that firms assess their current capabilities and their "ability to execute on building a practice area," and then create a thorough business plan that covers everything from billing practices to staffing to KPIs.
Have someone in your firm be responsible for keeping up with new technologies in the CAS space, suggested Hugh Hermanek, CPA/CITP, a partner at Hancock Dana, a 55-employee firm in Omaha, Neb. New apps and software emerge rapidly, he said, and when you're knowledgeable about them, you can choose the right ones to help your clients' businesses run more smoothly.
This article originally appeared in the August 2021 issue of the Journal of Accountancy. ©2021 Association of International Certified Professional Accountants. All rights reserved. Used with permission.
Stay on top of tech
could benefit from more advice and insights, not to mention the clients who are willing to pay and invest in that added value." Clients who are already comfortable with cloud technology will be easier to transition to CAS, he said.
Learn more about advisory services from Amy Vetter, CPA, CEO of The B3 Method Institute at these upcoming learning opportunities. Register at my.ohiocpa.com:
An avenue worth exploring
18 | CPA Voice
Your first CAS clients shouldn't be your top clients, McCurley said. She recommended starting with "two to five beta clients" first. It helps to "get your feet wet and your processes right when working with a smaller-level client," she explained. "Once you've got some practice, and some experience in creating processes and systems, that's when it's nice to go after those ideal clients."
Starting a new CAS practice is not a decision to be taken lightly. That said, CAS is an exciting area of accounting and one well worth pursuing. For firms that are willing to make the commitment, now is an opportune time to get started with CAS, Merhib said. "We're seeing an increasingly complex business environment where clients of all sizes are now needing to make decisions more quickly," he said. "It's a perfect opportunity for firms to take a proven business model, use those resources, and really start delivering on the strategic advisory role for clients."
To pick the first clients to offer your CAS services to, Merhib said, look over your client roster and identify "the ones who
Getting formal training in CAS can save firms time and effort, Moe said. After her firm took some steps toward CAS on its own, she took a CAS workshop she found very helpful.
Choose the right clients to start with
CAS Workshop: Building & Scaling a CAS Practice, Nov. 7 & 30.
Courtney L. Vien is an editor for The Journal of Accountancy.
Partnering with a firm with more CAS experience, but that serves a different niche than you do, can also reap benefits. "As you start growing, it might not all be internal resources that make your CAS practice successful," she pointed out. "You've got to rely on some other firms sometimes to be that partner to help you grow."
to talk to clients about the value of CAS.
The Client Advisory Services Roadmap: The Cherished Advisor® Step-by-Step Program, Oct. 28 - Dec. 14, 2022
Be sure to give your CAS staff sufficient time to train on technology, Hermanek said. "It's the only way to know what all the options are for clients."
SEPT | OCT 2022 | 19
Whenconversations.business
Understanding the need
20 | CPA Voice
2. THREE THINGS
Developing innovative solutions
TALENT MANAGEMENT
By Tiffany Crosby, CPA, CGMA, MBA, OSCPA chief learning officer
ESG reporting is on the rise and an increasing body of research shows a positive correlation with financial performance. Furthermore, investors are interested in it, and enterprises are seeing that ESG reporting is a good way to communicate purpose, connectivity and impact.
3.
The IFRS Foundation is forming a new International Sustainability Standards Board (ISSB) to develop a comprehensive global baseline of high-quality, transparent, and globally comparable sustainability disclosures that are compatible with the financial statements and specialized for various industries.
In this three-level model, Level 1 innovation includes improvements that lead to cost reductions and process efficiencies. Internal or external auditors or accounting and finance teams may identify Level 1 innovation opportunities when executing work or completing operational reviews, project assessments, or special projects. Level 2 innovation evolves existing products, services, or processes and identifies new uses, markets, or customers. This level of innovation requires asking different questions that focus on the other needs that could be served with the existing assets, which typically occurs during strategic planning
To stay relevant, businesses must embrace bold innovations and often look to trusted advisers to help guide the way. However, developing the advisory skills necessary to deliver value to business partners does not happen by chance. Evolving talent development to include a broad range of skills and competencies requires leaders willing to intentionally invest in structured, continual learning. Strong business acumen, change management and project management skills, critical thinking and problem-solving competencies, and communication and relationship-building proficiency are just a subset of the development needs that must be addressed.
advisers help clients get to Level 3 innovation, transformation occurs. New products and new business models emerge. Industry game-changers arise. Level 1 and Level 2 innovations are more insular; the competitive impact is more limited. Level 3 innovation is disruptive — the competitive landscape changes. Level 3 innovations are higher risk and take longer to execute. Therefore, Level 3 innovation requires a different skill set capable of
Economic pressures, business disruption, and rapid technological advances have transformed the business world and pushed once stable economies and stalwart companies to the brink of collapse.
Companies are more integrated, interdependent, and geographically dispersed than ever, while finance teams are tasked with doing more with less. These factors create significant challenges for traditional accounting and finance operating models and talent development routines. Meeting management expectations in a dynamic environment requires a new, more agile approach that permeates everything from planning to execution to reporting. Gone are the days when finance spends months evaluating a course of action before initiating change. Acquiring additional resources to address new issues that arise during the year is also unlikely in the current talent market. That begs the question: How do accounting and finance leaders maintain current staffing levels, execute existing responsibilities, oversee finance transformation, and aggregate and synthesize organizational knowledge in response to new reporting requirements or standards when that information resides within myriad people, systems, and resources? Therein lies the value of the trusted business adviser who understands the client environment and is skilled in innovative thinking, organizational systems, change management, and project management.
Formal standards for innovation do not exist. However, a common definition has emerged within the educational arena. Generally, innovation is considered to have occurred when people create value by implementing new ideas. This definition establishes a basic framework that recognizes that innovation is done only by people and, generally, only by groups working collaboratively. An innovation framework, therefore, looks at knowledge-sharing systems, collaborative learning, and project and change management. An example of this change spectrum is a three-level model: improve, evolve and transform.
1.
Becoming an adviser: Developing the competencies to go beyond
In the U.S, the SEC requires public companies to disclose certain ESG information –including climate and human capital risks – if it is material to an understanding of the business. In July, SEC Chairman Gary Gensler said he wants mandatory disclosures of climate risks and diversity.
Developing innovative business advisers requires a clear talent development strategy. Business advisers must be able to think critically, solve problems and learn continually. Individuals should have a structured approach to studying their environment, observing what works well and what causes frustrations or problems, and using associative thinking to discover relationships among abstract or disconnected knowledge points. Advisers need to study a broad range of topics beyond their specialization to increase their general knowledge and identify methods used outside their industry sector that may be relevant to their client base. They also need to possess strong business acumen, communication skills, and an understanding of industry tools, methods, and practices. As if those demands were not enough, advisers must have the time, tools, and data and business process analysis skills to analyze client problems thoroughly and craft a feasible action plan responsive to any limitations. Finally, advisers need to be alert to hurdles to innovation such as cognitive biases and change resistance and have the relevant people skills to respond positively.
navigating the people, process, and technology challenges accompanying transformation. Before the pandemic, Level 3 innovation typically occurred within venture and startup companies. However, the pandemic altered the business environment so that business transformation and organizational sustainability have moved to the forefront.
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• Measure the learning impact using metrics that gauge client adoption of level 1, 2, and 3 innovation ideas.
Developing innovative talent
• Recognize learning achievements through appropriately designed rewards. Used discriminately, symbolic rewards and nominal monetary incentives can spark learning engagement. In addition, business leader nominations and evaluations can serve as input into the awards.
• Consider learning, innovation, and client satisfaction levels when nominating individuals for participation in leadership development programs and internal initiatives.
• Include learning plans in balanced scorecards to recognize investments as critical to accomplishing business objectives.
based and online training, personal reading, and networking. The expected learning time far exceeds the traditional 40 hours per year standard adopted in many organizations due to continuing professional education requirements. Truly becoming a trusted business adviser requires an organizational and personal investment of time, high energy and drive, and a long-term commitment. Business advisers are the best read, best connected, and best-informed group within the organization. To support business advisers in their learning journey, organizations can:
Developing the full suite of competencies needed by business advisers requires a structured learning program that includes formal, informal and social learning. The talent development process should use workshops, conferences, classroom-
Organizations unsure of whether the right elements are in place to support the development of trusted business advisers may want to conduct a quick assessment. Start by rating talent development processes on eight factors:
1. We know where business advisory fits in the value chain.
7. Our professionals have opportunities to apply innovative skills in low-risk environments.
Organizations need the value that well-equipped, welltrained business advisers can deliver. However, positioning professionals to deliver that value requires investing time and resources using a structured learning approach to expand competencies, knowledge, and capabilities.
2. We include creative thinking and innovation in our talent development processes.
8. Our professionals have time available to engage in innovative problem-solving.
22 | CPA Voice
3. We help our professionals develop effective processes for identifying and analyzing new trends or technologies.
4. Our professionals are effective at capturing, acknowledging and synthesizing new ideas.
Tiffany Crosby, CPA, CGMA, MBA is the OSCPA chief learning officer.
6. Our teams have opportunities to work with and learn from other groups.
5. Our professionals openly share information with our clients to further the problem identification and problem-solving processes.
SEPT | OCT 2022 | 23 Request Your Demo at MoneySavecorvee.com/OHCPAClientsonTaxes With Corvee Tax Planning Software
24 | CPA Voice
Evolution of the CPA Exam
Regardless of the candidate’s chosen discipline, all CPAs receive the same rights, privileges and responsibilities, consistent with the current CPA designation. The chosen discipline does not affect the CPA’s ability to practice, and all CPAs are required to exercise due care and obtain professional competence for the work they undertake.
knowledge and skill in a particular domain: Business Analysis and Reporting (BAR), Information Systems and Controls (ISC), or Tax Compliance and Planning (TCP).
With the transformational impact of technology on the work newly licensed CPAs currently perform, and the expansion of the core body of knowledge all CPAs must have to serve the public interest, the need was identified for a foundational change in the Uniform CPA Examination model. Appendix B of the exposure draft details the rigorous process, beginning in 2018, through which the CPA Evolution initiative consulted with more than 4,000 professionals to collect input on how to transform the requirements for the CPA. Important considerations identified by members of the profession include:
The exposure draft, Maintaining the Relevance of the Uniform CPA Examination® - Aligning the Exam with the CPA Evolution Licensure Model, issued on June 27, 2022, proposes a model to recognize the rapidly changing skills and competencies the practice of accounting requires and will require for the future.
Implementing the proposal
ESSENTIAL SKILLS & professional development
• CPAs agreed with the need for changes to position the profession for the future.
• There should be one common CPA with the same rights and privileges, a core body of knowledge and a foundation of serving the public interest.
In 2020, governing bodies of the AICPA and NASBA voted to advance the CPA Evolution initiative, with a Core plus Discipline model and a plan to launch a CPA Evolutionaligned Uniform CPA Examination in January 2024. In the model, all candidates are required to complete a strong core of three exam sections: Auditing and Attestation (AUD), Financial Accounting and Reporting (FAR), and Taxation and Regulation (REG), with an underpinning of technology content in all exam sections. Each candidate also chooses one discipline in which to demonstrate a greater depth of
By Laura Hay, CPA, OSCPA executive vice president
All iterations of the CPA Examination are supported by a Practice Analysis. Upon approval of the model, the AICPA Board of Examiners kicked off a formal Practice Analysis research project, including subcommittees for each exam section. The research focused on the work newly licensed CPAs perform in each of the areas to be tested. Current exam content was reviewed to determine how it should be allocated to the Core + Discipline model, with foundational content important to all CPAs retained in the core, and more specialized content that those not working in that area are unlikely to encounter relocated to the disciplines.
CPA Evolution proposal
More than four years in the making, and many years in the planning, changes from the CPA Evolution model have been incorporated in a draft U.S. CPA examination framework.
• Candidates with credit for AUD, FAR or REG on the current CPA Exam that is still in their examination window will not need to take the corresponding new Core section of AUD, FAR or REG on the 2024 CPA Exam – these sections map 1-to-1.
Blueprint drafts were reviewed with focus groups for each discipline, particularly with those who supervise newly licensed professionals, to ensure that they were representative of tasks performed in those areas, including the impact of technology on those tasks.
Commenting process
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Higher-order skills, such as critical thinking and professional judgment, will now be tested in all exam sections. In addition to content groups and topics, the blueprints also detail representative tasks to be tested in each topic.
Therefollows:isahard
• Remembering and understanding
Exposure draft components
• However, if a candidate loses credit for AUD, FAR or REG after Dec. 31, 2023, they must take the corresponding new Core section of AUD, FAR or REG.
Data and technology content was added to all core and discipline exam sections. Technology content will not focus on any specific software, but rather concepts such as how data can be transformed for useful decision-making or used to identify trends and anomalies, and how information is structured and flows through underlying systems.
After framing the exam structure, Appendix A of the proposal includes the draft CPA Examination Blueprints, which detail the content and weighting of that content for each exam section. All exam sections will now include the full continuum of skill levels, including:
The first two are primarily tested with multiple choice questions, and the latter two with task-based simulations.
• Application
Comments on the exposure draft may be sent to practiceanalysis@aicpa.org no later than Sept. 30,
The transition policy announced by NASBA in Feb. 2022, is as
CPA exam transition policy
• Candidates who have credit for BEC on the current CPA Exam that is still in their examination window will not need to take a 2024 discipline section.
• Evaluation
• And if a candidate loses credit for BEC after December 31, 2023, they must select one of the three new discipline sections for testing.
2022. Comments will be reviewed by each content area subcommittee, an overall content committee, and then by the AICPA Board of Examiners, with projected approval of final CPA Exam Blueprints in Dec. 2022. A 2024 CPA Exam Final Report, including commentary on how conclusions were reached, is scheduled to be published in Jan. 2023, for a planned revised examination launch in Jan. 2024. This schedule provides stakeholders about one year to plan for the 2024 CPA Exam.
cutover from the current CPA Exam to the 2024 CPA Exam as of the January 2024 launch.
• Analysis
The chosen discipline does not affect the CPA’s ability to practice, and all CPAs are required to exercise due care and obtain professional competence for the work they undertake.
We’d love to hear from you
3.2. THREE THINGS
1.
As we communicate these changes to OSCPA member groups, we’d love to hear your opinions if you are responding to the exposure draft or have comments. Please forward a copy of your responses to Lhay@ohiocpa.com and we’ll collect and communicate common themes.
Regardless of the candidate’s chosen discipline, all CPAs receive the same rights, privileges and responsibilities, consistent with the current CPA designation.
The exposure draft proposes a model to recognize the rapidly changing skills and competencies the practice of accounting requires and will require for the future.
26 | CPA Voice
Laura Hay, CPA, CAE, is executive vice president of The Ohio Society of CPAs and staff liaison to the Accounting Auditing, Professional Ethics Committee and Peer Review Committee. She can be reached at Lhay@ohiocpa. com or 614.321.2241.
Information security risk has increased in every organization across every industry, especially since the onset of the pandemic. Faced with more customer and regulatory scrutiny, and overall elevated enterprise risk, companies are seeking more audit and consulting services from CPA firms and IT security MSPs – and practitioners are struggling to keep up with Whiledemand.theassurance and advisory profession has existed for many decades, risk advisory services (RAS) are gaining momentum as a new growth engine for the profession. RAS presents an amazing opportunity for firms who make smart choices to position their practices for success.
Tech-enabled firms are growing at alarming rates compared to traditional CPA firms – and not by accident. With significant funds raised, these firms bring technology to the core of their growth strategy and are investing in software to help them sell more and service more efficiently.
Tech-enabled firms are winning the RAS opportunity Industry leaders aren’t the only ones noticing the trend. Private equity firms have a big appetite for tech-enabled IT audit firms. Consider this:
Traditional CPA firms who don't act now are already falling behind in growth relative to the overall market. The truth is,
the opportunities for audit and advisory firms to grow their risk advisory services.
Given rapidly growing demand, RAS represents CPA firms with opportunities to grow revenue faster and with higher margins. Barry Melancon, CEO of AICPA, during his ENGAGE conference keynote address, referenced already billions of dollars in annual opportunity in SOC services alone. RAS encompasses many other popular risk frameworks, including HIPAA, ISO 27001, PCI DSS, NIST CSF, HITRUST, SASB and dozens more. Modern clients have holistic needs
Why is now the time to invest in providing holistic, tech-enabled risk advisory services? And how can your firm compete with the tech-enabled cyber firms backed by big
The state of risk advisory in the CPA firm industry
There’s a big opportunity looming for assurance and advisory practices.
Why risk advisory services represent the new frontier of assurance and advisory TECHNOLOGY
and seek a variety of risk and compliance needs – it's no surprise why many of the fastest growing CPA firms are ones with RAS practices that service needs beyond SOC. Another strong theme at ENGAGE was the need for modern technology solutions for CPA firms that solve the industry-wide talent shortage with more technology leverage. In addition, technology automates tedious practitioner work, while also enhancing work quality in areas that are prone to human error. Both Melancon and Erik Asgeirsson, President and CEO of CPA.com, emphasize that our industry must embrace technology to unlock unprecedented productivity gains that help offset the staffing shortage that audit and advisory firms face. Innovative firms view technology as part of the staffing equation and are digitizing their services to help clients navigate the digital world.
SEPT | OCT 2022 | 27
By Jin Chang, CEO & Co-Founder, Fieldguide
Let’sinvestors?lookat
• Florida-based A-LIGN, the tech-enabled cyber audit firm that performs 3,000+ SOC audits annually, raised a nine-figure investment from private equity giant Warburg Pincus. They previously raised $54.5 million from FTV Capital in 2018.
Meanwhile, new vendors are seizing this opportunity, raising hundreds of millions in venture capital and private equity, and developing sophisticated tools to assist organizations in complying with different information security standards. Techenabled services are what modern clients expect, so firms who invest in technology are best positioned to address the booming demand for risk and compliance services.
• Coalfire, a similarly tech-enabled firm, was acquired in a leveraged buyout by Apax Partners from The Carlyle Group.
Here’s another story that has businesses eager to invest in risk advisory services. According to IBM, the average cost of a data breach in 2021 was $4.24 million, the highest in 17 years. In the U.S., that average spikes to $9 million. These costs include detection, response, and notification, but the majority of that figure comes from lost business. Now compare this to an average cost of a SOC II audit, which ranges from $20,000 to $100,000, depending on complexity. It should be easy for businesses to decide which to invest in. Is your audit practice ready to capture that value?
Do you remember seeing the famous Better Business Bureau logo posted on every eCommerce shop of the 1990s and 2000s? We all recall seeing the blue and white BBB stickers on the doors of quaint main street businesses like the local SOCcafé.
BerryDunn
Research from PwC found risk and security leaders are meeting more with board members (42%) and the C-suite (50%). That’s generally good news, but this comes with increased responsibilities and pressure. Of those surveyed, 58% saw increased workloads since the pandemic started, and 62% have seen their roles grow.
BerryDunn followed a traditional audit approach, corresponding with clients for four to six weeks to gather materials, traveling on-site to conduct the audit, and manually compiling final reports. This labor-intensive process was highly taxing on employees and pulled management away from more strategic initiatives.
In today’s dynamic landscape, organizations across industries are realizing the need to focus attention and resources to ensure compliance across a wide range of information and cybersecurity frameworks. Whether clients are broadening coverage into the federal space or simply expanding from a SOC 1 to a SOC 2, the growing need for security and compliance attestation services is not going away anytime soon.
We’ve seen this before with CFOs being elevated to board discussions. CFOs quickly sought software that best enabled their strategic vision. CFOs also sought more expert advisory services, and firms adapted with more technology and valueadded services. The industry is gearing up to do the same with risk advisory services.
Risk and security are increasingly a board level topic
SOC is the BBB for enterprise risk
Adopting an end-to-end workflow solution enabled BerryDunn to make quantifiable improvements to their business, including margin growth, human capital optimization, and increased engagement capacity. BerryDunn realized 30–50% efficiency gains, more than doubling their engagement capacity and allowing them to grow RAS.
28 | CPA Voice
Perkins & Co.
and other popular risk frameworks will be the new trust identifiers for businesses that electronically manage information and do business with sophisticated organizations. That’s data across customers, transactions, financial/ accounting, operations, health and patients, HR, IP, strategy – pretty much everything that runs businesses today. This will result in millions of businesses requiring such certifications and reports.
tech-enabled firms are growing rapidly because clients are increasingly seeking more automated and collaborative experiences.
The Washington Post, in a story about the ransomware attacks that shut down Colonial Pipeline for several days in May 2021, reported: “After years of repeated hacks, more courts have begun to recognize that cybersecurity lapses can hurt real people in real ways.” The event signaled a turning point in the courts’ sentiment that top management has not taken information security seriously enough.
Risk audits are more affordable than data breaches
The engagement team at Perkins & Co. faced many of the issues common in audit firms: their engagement workflows spanned many platforms. Data had to be constantly updated and reconciled against each other and performing these reconciliation rituals was both time-consuming and mindnumbing.
Risk audits are the frontlines of a strong cyber defense
Modern RAS practices utilize modern solutions
This story highlights the scrutiny that will be placed on the entire cyber and risk compliance ecosystem. Cybersecurity is a complex issue and SOC, ISO, HIPAA, and other risk audits are the frontlines of a good defense as a forcing mechanism for clients to build their security posture – making risk assurance and advisory services more important than ever.
Consider these two case studies:
Information security risk has increased in every organization across every industry, especially since the onset of the pandemic. THINGS
Becoming a tech-enabled RAS firm
• Automated reports and deliverables: Modern technology can automate previously tedious assembly of end deliverables and enhance work quality.
Organizations across industries are realizing the need to focus attention and resources to ensure compliance across a wide range of information and cybersecurity frameworks.
Firms that deliver tech-enabled RAS will be best positioned for growth in this new digital era. Modern software automates manual processes, increasing efficiency and unlocks more capacity for practitioners to provide the strategic advice that clients need.
• Project management: Plan, visualize, and assign work across your teams so practitioners can focus on completing high-priority tasks.
When they adopted a modern workflow management tool, the team was able to automate manual tasks and end the reconciling rituals in their audit workflows. Eliminating these tedious tasks from the team’s workload would enable them to spend more time engaged in thoughtful analysis and creative value-add activities for clients. They are now well-positioned to continue growing their RAS.
SEPT | OCT 2022 | 29
• Client collaboration: Bring clients into a new collaborative services experience. Instead of back-andforth emails, ask questions and request information in context – all from one end-to-end project workspace.
To deliver these services to your clients, firms need intuitive software that help with:
• End-to-end workflow automation: Instead of managing work across multiple systems, integrate all engagement phases and collaboration touch points onto one, cloudnative platform. Eliminating manual work increases productivity and enhances work quality.
Tech-enabled firms are growing rapidly because clients are increasingly seeking more automated and collaborative experiences.
1. 3.2. THREE
has been named a “Top Workplace” by the Cleveland Plain Dealer for the 10 th time, a “Best Workplace in Ohio” by Ohio Business Magazine for the 2 nd time and a “Top Firm in the Great Lakes Region” by Accounting Today magazine.
and Courtney Snyder have been hired as staff accountants at Hall, Kistler & Company.
DanaAKRONE.Mountjoy, CPA, has been promoted to partner at Bober Markey Fedorovich.
HW&Co.CLEVELAND
Wendy Warner
Sandra Orcutt
KoryCANTONArner
Dana E. Mountjoy
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30 | CPA Voice Marc Kiner • mkiner@mypremierplan.com513-247-0526 ConsultingSocialpremiernssa.comSecurityandEducation
Sandra Orcutt of Hall, Kistler & Company has been elected Treasurer for the Ohio State Society of Enrolled Agents for two consecutive years starting July 2022.
MEMBERS in motion
Wendy Warner has been hired as a bookkeeper at Hall, Kistler & Company.
More than 90% of all Social Security recipients do not maximize their benefits. There is a demand for help and guidance when faced with making decisions about Social Security. We can help you be a resource to the millions of baby boomers becoming eligible for Social Security.
Kory Arner Courney Snyder
8:30 a.m. – 4:30 p.m. Hybrid Individual Entity Tax Tune Up (Hybrid) 16 credits TX
8:30 a.m. – 4:30 p.m. Business Entity Tax Tune Up 16 credits TX
11/28-29
SEPT | OCT 2022 | 31 Register today + fi nd more events at Explore OSCPA competency framework at ohiocpa.com/CBL
10/19 8:30 a.m. – 4:30 p.m. Health Care Conference 8 credits MULTIPLE
10/24-25 8:30 a.m. – 4:30 p.m. Business Entity Tax Tune Up (Hybrid) 16 credits TX
10/20 12:00 p.m. – 1:00 p.m. Town Halls 2022 1 credit MS
12/08 8:30 a.m. – 4:30 p.m. Winter CPE Conference 8 credits MULTIPLE
8:30 a.m. – 11:15 a.m. Ohio Professional Standards and Responsibilities 3 credits RE
12/10
ohiocpa.com/Events22 CREDIT COMPETENCIESTYPEFinancial Accounting Audit & Assurance Business Management Technology Ethics & Professional Standards Tax Essential Skills & Prof. DevelopmentRisk Management & Fraud Talent MGMT & Human Resources Multiple October & AccountingNovemberShow Oct. 26-27 & Nov. 16-17 8:30 a.m. – 4:30 p.m. | 16 credits Fall Advance Nov. 8, 10, 15, & 18 3 credits Complimentary for Members CAS Workshop: Building & Scaling a CAS Practice 10:30 a.m. – 3:30 p.m. 4.8 credits Nov. 7 & Nov. 30 Building Fraud and Forensics 8:30 a.m. – 4:30 p.m. 8 credits Dec. 20 The Rising Tide of ESG: Trends & Integration On-demand 1 credit Complimentary for Members AC Accounting RE Regulatory Ethics BL Business Law AG (Government)Accounting BE Behavioral Ethics IT TechnologyInformation AU Auditing TX Taxes AV (Government)Auditing CA ComputerSoftware&Applications EC Economics PR Production MS ManagementServices FI Finance BM &ManagementBusinessOrganization CM Communications&Marketing ST Statistics HR HumanPersonnel/Resources SK SpecializedKnowledge PD PersonalDevelopment MULTIPLE LEARNING events at a glance MULTIPLE SK BM MULTIPLE MS
12/15 12:00 p.m. – 1:00 p.m. Town Halls 2022 1 credit MS
11/8-9
10/31-11/1
8:30 a.m. – 4:30 p.m. Individual Entity Tax Tune Up (Hybrid) 16 credits TX
12/13-14 8:30 a.m. – 4:30 p.m. MEGA Tax Conference 16 credits TX
lately
The Ohio Society of CPAs podcast “The State of Business” releases new episodes on Wednesdays, covering the latest news impacting accounting professionals.
Alvarez, Alexander of Cincinnati, OH
the pocast
From the episode:
Disciplinary Actions for Publication
Under the automatic disciplinary provisions of the OSCPA bylaws, Mr. Greenwell’s OSCPA membership was suspended for two-years, retroactive to December 10, 2021, for being denied the privilege of appearing or practicing before the SEC as an accountant.
Under the automatic disciplinary provisions of the OSCPA bylaws, Mr. Alvarez’s membership was terminated effective July 19, 2022, following revocation of his CPA certificate and firm registration of Business Management Services by the Accountancy Board of Ohio for violating state board statues 4701.16(A)(3), (A)(9), & (A)(11) - failure of a holder of a CPA certificate or PA registration to obtain an Ohio permit or an Ohio registration, or the failure of a public accounting firm to obtain a firm registration; and failure of a public accounting firm to comply with section 4701.04 of the Ohio Revised Code.
Under the automatic disciplinary provisions of the OSCPA bylaws, Mr. Callan’s membership was terminated effective July 19, 2022, following revocation of his CPA certificate by the Accountancy Board of Ohio for violating state board statues 4701.16(A)(4) - Failure to Comply with Continuing Education Verification.
ohiocpa.com/Podcast
“Some of the biggest companies can't get out of their own way. Speed is important. And simplicity gives you that and if you're operating with complexity, you can't move fast enough.”
Lisa Bodell, CEO of FutureThink and speaker at the 2022 Ohio Fall Accounting Shows
Robert G. Callan of Streetsboro, OH
Santos, Ramon G. of Canton, OH
Greenwell, Alan C of Loveland, OH
public accounting firm to comply with section 4704.04 of the Ohio Revised Code.
Episode title: How to kill complexity in the workplace
Under the automatic disciplinary provisions of the OSCPA by laws, Mr. Santos’ membership was terminated effective July 19, 2022, following revocation of his CPA certificate and firm registration of RG Santos' Co Accountants Inc. by the Accountancy Board of Ohio for violating state board statues 4701.16 (A)(3), (A)(9), (A)(11)-Unlawful practice, failure to comply with firm registration requirements; and failure of a
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