January 2024
CPA
Newsletter from the Iowa Society of CPAs, your primary source for profession-related information
Your input steers “Pathways” recommendation
I
owa CPA’s September 2023 issue featured ISCPA’s groundwork in exploring members’ thoughts on existing educational credit requirements for attaining CPA licensure in Iowa. While other barriers exist to joining the profession, legislation to offer alternative licensure pathways with fewer than 150 credits in Minnesota increases the urgency for conversations in Iowa. The decreasing CPA pipeline issue will not be solved overnight or with one change, but listening and acting on members’ input is our focus.
Task force formed Under the ISCPA board’s directive, the Society established the ISCPA Pathways to CPA Licensure Task Force to embark on a state-wide grassroots initiative to collect members’ input and present a recommendation at the December board meeting. Throughout the fall, task force members and ISCPA staff held focus group meetings across the state to ask questions about talent resources and how the current 150 credit hour licensure requirement in Iowa is perceived by various stakeholders. “Like many, I have witnessed first-hand the impact of the declining number of new accounting professionals on our firms and workplaces. I truly believe action is needed to turn this trend around and bring a new generation of candidates to the accounting profession,” said Kelli Schmidt, partner with KPMG and a task force volunteer. “While there are several potential reasons people are not choosing accounting, certainly the 150hour rule is one of the factors preventing people from pursuing this profession. I joined this effort because it felt critical to me for the Iowa Society of CPAs, with the help of the Pathways Task Force, to investigate the impact of this rule as well as the position of our valuable members.”
Data collection The focus group discussions allowed members to voice support or concerns and talk about their experiences. The top focus group themes became the basis for our online survey questions shared with members and others around the state. More than 900 survey respondents and 500 focus group participants provided data used to form the task force’s recommendation.
Focus group themes Across the state, members discussed what they are experiencing in the workplace and in the classroom. The most consistent themes to come from the focus groups were: •
Most discussion participants view the 150-hour education rule as a barrier to the profession.
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Mobility is a top concern when discussing changes to pathways.
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The additional 30 hours of education is not producing better accountants.
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Work experience is more valuable than undefined additional education requirements.
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Other barriers are adding to the CPA pipeline issue, especially starting pay, work-life balance and professional stereotypes.
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Reputational risk is not at the top of Iowa professionals’ concerns.
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The CPA Exam is the gold standard and determines if someone has what it takes to be a CPA. Continued on page 2
Iowa Society of CPAs ... Advancing the professional success of our members
Continued from page 1
Survey results Thank you to everyone who completed the pathways to CPA licensure online survey. Over 900 individuals provided answers to our questions, providing significant data for the task force to use in forming a recommendation. The survey was shared with members, nonmembers, students and other professionals across Iowa. While 79 percent of respondents were members, we are thrilled to receive input from other stakeholders as well. Over 90 percent of the respondents answering the question of whether there should be alternative pathways to CPA licensure said “Yes.” The alternative licensing pathway structure with the highest support from respondents was 120 hours plus two years of experience. Responses on the most significant factors in candidate quality overwhelmingly favored work experience and passing the CPA Exam over additional education hours. The top concern of survey respondents is mobility, with most agreeing that mobility is a disadvantage to introducing alternative pathways to licensure due to uncertainty with licensing bodies on a national level. CPA licensure education requirements are not the only factors affecting the talent
ISSUE NO. 2024-1 Published 10 times per year by the Iowa Society of Certified Public Accountants (ISCPA). S end address changes, a dvertising inquiries and all c orrespondence to: 1415 28th St., Ste. 450 West Des Moines, IA 5 0266
Continued on page 3 Email: iacpa@iacpa.org Website: www.iacpa.org or contact the ISCPA office: 515-223-8161 800-659-6375 Cover Photo by: Payton Shields Yellow Banks Park Pleasant Hill, IA
2 | Iowa CPA | January 2024
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Get legislative updates on issues affecting the profession by subscribing to Take 5, ISCPA's e-news for members. Log in to www.iacpa.org/my-cpa/ subscriptions and select Take 5 legislative news.
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Continued from page 2 pipeline. Besides the time and cost associated with attaining the additional 30 hours of educational credit, survey respondents pointed to work-life balance and time required to prepare for the CPA Exam as significant factors. Other factors that weren’t quite as significant but are still worth noting include the complexity of licensing and starting salary. Survey respondents in the public accounting sector were more likely to find work-life balance a significant factor, as were female respondents.
Recommendation approved The data collected from focus group meetings and the online survey helped the ISCPA Pathways to CPA Licensure Task Force make the following recommendation to the Iowa Society of CPAs Board of Directors on Dec. 1, 2023. We support alternative pathways to CPA licensure that preserve a path to mobility: •
We support a trigger strategy to propose legislation. We do not believe Iowa needs to be first.
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Reciprocity for other states must be simultaneous with Iowa’s implementation of alternative pathways to protect Iowa stakeholders.
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ISCPA will be an advocate, working to support other states in their alternative pathways.
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The task force will be maintained to continue evaluating these details.
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ISCPA needs to continue its work to remove other barriers to entry into the profession.
Mobility CPAs currently benefit from a nationwide licensing system that allows almost complete freedom to practice virtually or in person across states without having to obtain additional licenses. This is known as practice mobility. Mobility is extended to CPAs because state boards recognize "substantial equivalency," the premise that all licenses regardless of the state have met similar underlying educational, examination and experience requirements as CPAs in other states. ISCPA members were clear that mobility is important to their businesses. The board voted in favor of the recommendation and voted to amend the 2024 legislative agenda to include CPA pipeline concerns. The Legislation Committee will create the framework that will allow ISCPA and others to discuss pipeline issues with legislators during this education stage of our efforts. If the talent shortage impacts you and your employer, consider attending the Jan. 17 Iowa CPA Day at the Capitol where you will have an opportunity to speak with your legislators about this topic. “The Pathways to CPA Licensure work that ISCPA has done this past year is crucial in addressing the current CPA pipeline shortage, as well as declining membership in state professional society memberships. We must find ways to remedy these issues and ensure the value of the CPA designation for the next generation,” said Twyla Rosenbaum, associate professor with Morningside University and a task force volunteer. We expect this topic to evolve in the coming year as other states and stakeholders look to find ways to attract more talent to the accounting profession. ISCPA remains dedicated to advocating for the profession, supporting accounting professionals, and attracting students to accounting careers.
www.iacpa.org
Iowa CPA | January 2024 | 3
Message from the CEO Dawn P. Latham, IOM, CAE
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s we wrap up 2023 and look toward 2024, I want to take this opportunity to thank our members for your commitment to the Iowa Society of CPAs. It is because of your engagement, leadership, and support that we are able to reflect on a year of strategic work and accomplishments. Collectively, we have navigated challenges and celebrated successes these past 12 months.
Exploring alternative pathways to licensure This initiative was certainly a significant highlight of 2023. In April, the ISCPA Board of Directors asked the Society to stand up a task force to study alternative pathways to CPA licensure in Iowa and present a recommendation for board consideration in December. Under the leadership of Ardis Kelley, Federal Home Loan Bank of Des Moines, the Pathways to CPA Licensure Task Force engaged in an ambitious grassroots endeavor by hosting focus groups across the state and deploying a survey reflective of what they were hearing from members. Around 500 participants joined the focus groups and over 900 respondents offered input through the survey. A big thank you for sharing your thoughts, insights, and opinions on this important topic. Your involvement was instrumental to the task force developing a recommendation for board consideration. In December, the board approved the following statement: We support alternative pathways to CPA licensure that preserve a path to mobility. Check out this issue’s cover article to learn more about the process and the results of the task force’s work in developing this statement.
Launching new vision & mission statements Each year board members, committee leaders, and staff come together to consider strategic objectives for ISCPA. In 2023, this effort focused on designing long-range statements that express our values and aspirations. This work also included creating a value proposition for the organization.
Our new vision statement reads: Trusted advocate transforming the future of the profession. And the new mission statement is: To be Iowa’s premier organization for the accounting profession by harnessing the collective power of our members to promote, protect, grow, and enhance the industry through advocacy and service. These statements serve as our guide as we proactively respond to the evolving needs of our members and the profession. They provide a sense of direction that helps align our work with our strategy and defines our purpose among key stakeholders.
Initiating a strategic plan Following the development of new vision and mission statements, the board approved a new strategic plan that will serve as the Society’s roadmap for the coming years. This plan outlines four strategic initiatives with key goals and measurable outcomes that will serve as a foundation for our work. The four initiatives are: 1.
Facilitate community
2. Offer exceptional professional development opportunities 3. Promote the CPA credential 4. Advocate for the profession The strategic plan will help focus our efforts and resources that align with our mission statement and long-term goals. It will enable us to assess our performance, anticipate challenges, recognize opportunities, and position the organization for continued success.
Advancing the profession Advocacy In 2023, we actively engaged policymakers and other stakeholders in addressing key issues affecting the industry. As you read in the December issue of Iowa CPA, our legislative counsel, Brad Epperly, provided an excellent overview of the issues we faced last year Continued on page 5
4 | Iowa CPA | January 2024
www.iacpa.org
Continued from page 4 and an update on current activities. With a redesigned CPA Day at the Capitol scheduled for Jan. 17, we want to increase our outreach efforts and expand upon last year’s work. With the board approving the recommendation presented by the Pathways to CPA Licensure Task Force, we want to take this opportunity and begin educating legislators on the serious pipeline issues we are facing in Iowa.
the opportunity to explore varied topics and interests. We also introduced the Knowledge Hub, which is an ongoing resource providing information on emerging trends and topics. ISCPA remains committed to offering top-of-the-line education to our members and we look forward to seeing you at one or more of our events this year.
Career Awareness
I would be remiss if I did not mention the Iowa CPA Education Foundation which annually awards scholarships to Iowa college accounting students who make a commitment to taking the CPA exam in our state. In 2023, we awarded seven scholarships. A big thank you to those who generously give to the foundation, and to everyone else, please consider supporting this important mission. A contribution to the foundation is a contribution to the future.
Accounting Opportunities Experience Month was a tremendous success in 2023 thanks to all our members who volunteered their time during this essential outreach initiative. Through your efforts, 49 volunteers reached 2,326 students. During the Pathways to CPA Licensure Task Force’s outreach activities, you were very vocal about accelerating our efforts in showcasing the profession among Iowa’s students. We look forward to further exploring opportunities and identifying innovative approaches in reaching the next generation. Professional Development We recognize that conferences, virtual sessions, and other learning opportunities further empower our members to stay ahead of the curve on important and evolving issues impacting the profession. This year, we offered free CPE courses as a member-only benefit. These successful sessions afforded members
Iowa CPA Education Foundation
As we bid farewell to 2023 and prepare for 2024, I want to express my gratitude to ISCPA members. Your commitment, passion, and dedication to the profession have been the driving forces behind our success this past year. Together, we will continue to innovate, adapt, and thrive in this evolving environment. We are excited about the opportunities and challenges 2024 will bring and we remain committed to serving you, our valued ISCPA members.
A message from your board The ISCPA board of directors met Dec. 1, 2023 Decisions and activities are listed below. •
•
•
Approved consent agenda items including ▷
Minutes of the Sept. 22, 2023 meeting of the board.
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Reviewed Antitrust Policy Statement.
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Reviewed foundation memorials.
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Reviewed financial statements for the six months ended Oct. 31.
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Iowa CPA Education Foundation update.
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2023 contribution for Power of Associations Fund.
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CEO report from Dawn Latham.
Received an update from Courtney Clarke, PMA Asset Management, on the ISCPA portfolio and voted to complete a full review of investment policy statement. Received and approved the Nominating Committee report from Kevin Den Adel, past chair.
www.iacpa.org
•
Received an update on the IAEB open board position from CEO Dawn Latham.
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ISCPA’s legislative counsel, Brad Epperly overviewed the upcoming state legislative session and updated the progress on the red tape review of existing administrative rules by IAEB.
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Received and approved a recommendation from the Pathways to CPA Licensure Task Force regarding alternative pathways to licensure in Iowa.
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Approved a motion to amend the ISCPA legislative agenda to add pipeline issues and pathways topic to be discussed with legislators.
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Received an updated strategic plan from CEO Dawn Latham.
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Received a report from Vice Chair Erik Bonstrom.
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Received a report from Chair Alison VanOtterloo.
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Discussed upcoming meeting dates.
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Scheduled a meeting for April 26, 2024.
Iowa CPA | January 2024 | 5
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www.iacpa.org
thank you
to the following members for contributing articles, quotes, comments and member features to Iowa CPA in 2023.
Bert Blank Jr. managing member of Lambert Blank Jr. MST CPA PLC in Clive
Twyla Rosenbaum, professor of accounting at Morningside University in Sioux City
Mike Campana, shareholder with Honkamp PC in Dubuque
Marc Salmon, CPA with Boelman Shaw & Company LLC in West Des Moines
Lindsay Chase, CFO with Holmes Murphy & Associates in Waukee
Jim Smith, consultant with MHCS PC in West Des Moines
Kevin Den Adel, professor of instruction with The University of Iowa in Iowa City
Monica Steckel, assurance senior manager with EY in Des Moines
Jose Luis Garcia, audit director with MHCS PC in West Des Moines
Judi Steward, senior accountant with Moore Beauston Woodham LLP in South Carolina
Sherrae Hanson, director with Denman and Company, LLP in West Des Moines
Tim Stiles, finance director with City of West Des Moines
Ardis Kelley, chief strategy officer with Federal Home Loan Bank of Des Moines
Denny Taylor, forensic and valuation director, TDT CPAs and Advisors PC in Cedar Rapids
Jason Less, US tax lead with OCI Global in Urbandale
Grant Seuferer, tax senior manager with Deloitte Tax LLP in Des Moines
Hunter Moore, accounting leadership development program with Principal Financial Group in Des Moines
Dwayne Vande Krol, shareholder at Nyemaster Goode PC in Des Moines
John Murphy, instructor of accounting/business with Des Moines Area Community College Hank Norem, president of Ramco Innovations Inc. in West Des Moines Angela Reed, partner with Tarbell & Co., PLC in West Des Moines
Alison VanOtterloo, SVP commercial and professional insurance with Pharmacists Mutual Insurance Company in Algona
Did You Know... THERE IS A COMMUNITY FOUNDATION IN EACH COUNTY IN IOWA? To find your local community foundation or learn more about Endow Iowa Tax Credits, please visit our website or contact us:
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www.iacpa.org
Iowa CPA | January 2024 | 7
Fall AICPA Council talks pipeline issues By Dwayne Vande Krol, AICPA Council representative
T
he fall 2023 meeting of the American Institute of CPAs (AICPA) Council was held Oct. 18-19 in Pasadena, California. During the meeting, the Council was provided with several great presentations summarizing the issues and opportunities facing CPAs today. As expected, a large portion of the meeting was dedicated to the issue of improving the pipeline of young professionals entering the CPA profession. While this included a robust discussion concerning the current debate about the 150-hour requirement for CPA licensure, it is clear that the AICPA is taking a comprehensive approach to the problem. This approach involves analyzing all issues that are deterring young people from studying accounting, taking the CPA exam, or staying in the profession long term, including issues such as negative perceptions of the work CPAs do and starting salaries that are lower than those of other professions.
The Council received the following presentations: •
Okorie Ramsey, chair of the AICPA Board of Directors and co-chair of the Association of International Certified Public Accountants (the Association), provided the welcome and opening statements. During his remarks, Chair Ramsey provided a description of his activities during the first portion of his term, including an update on his goals.
•
Sarah Ghosh, president of the Chartered Institute of Management Accountants (CIMA) and the other co-chair of the Association, provided an update on the initiatives of CIMA and the Association, including efforts to coordinate with the activities of the AICPA.
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Barry Melancon, president and CEO of the AICPA and CEO of the Association, and Sue Coffey, AICPA executive vice president of public practice, provided a presentation under the theme of “Accelerate and Lead,” including topics: ▷
The AICPA’s extensive efforts to analyze and address the CPA pipeline issue.
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The risks currently facing CPAs, including those caused by international tensions and the U.S. political climate.
8 | Iowa CPA | January 2024
▷
The regulation of the CPA profession, including the increasingly aggressive efforts of the Public Company Accounting Oversight Board (PCAOB) and the U.S. Department of Labor.
▷
The growth of new technologies and trends – such as generative artificial intelligence (AI) and environment, social, and governance (ESG) investing – and the opportunities and threats they create for CPAs.
•
The Gold Medal Award of Distinction was presented to Robert D. Herz from New Jersey. This medal is the AICPA’s highest honor and was presented to Mr. Herz for his exceptional contributions to the CPA profession, including his service as chair of the Financial Accounting Standards Board (FASB) from 2002 to 2010 and as a member of the Sustainability Accounting Standards Board (SASB) Foundation from 2011 to 2017.
•
Richard Reisig, chair of the National Association of State Boards of Accountancy (NASBA), provided an update on NASBA’s goals and programs, including initiatives to combat anti-regulatory legislation, implement the new CPA exam, and increase the pipeline of new CPAs.
•
Paul Zikopoulos from IBM provided a fascinating presentation on the history and development of AI, including current developments within the area of generative AI. Throughout his presentation, Mr. Zikopoulos emphasized that, in order to remain successful and relevant, the CPA profession as a whole and CPAs individually must be focused on capturing the benefits and avoiding the pitfalls created by AI.
•
Sue Coffey and Lexy Kessler, chair of the AICPA’s National Pipeline Advisory Group – which was formed in May of 2023 and is expected to issue a report concerning the CPA pipeline issue in May of 2024 – led a session entitled “CPA Pipeline and Tabletop Discussion.” During the session, members of Council were presented with various questions and scenarios intended to identify and illustrate the various causes of the pipeline issue facing the profession. Council members were then encouraged to discuss these issues in small Continued on page 10
www.iacpa.org
ISCPA scholarships for aspiring CPAs The deadline is approaching. Each year, ISCPA awards scholarships from the Iowa CPA Education Foundation to Iowa college students planning to become a CPA in the state. The application deadline is Feb. 16 and requires an ISCPA student membership (which is free) and coordination with the college's faculty liaison. Please help spread the word. We want our state's accounting students to apply. Find criteria, faculty liaison list and details at www.iacpa.org/foundation.
Eligible applicants must meet or complete the following: • Attend an NCA and/ or AACSB accredited educational institution in Iowa during the next academic year. • Be an Iowa resident and currently intend to work in Iowa following graduation. • Have not taken the CPA exam, but plan to take the exam and be licensed in Iowa.
• • •
•
Be a student affiliate member of the Iowa Society of CPAs (ISCPA). Have a 3.0 GPA or better. Have completed at least 60 semester hours of college credit, including 15 semester hours in accounting by the end of the upcoming fall semester. (Does include principles of accounting.) Confirm your intent to take the CPA exam conducted by the Iowa Accountancy Examining Board for the purpose of being granted a Certified Public Accountant certificate.
Iowa CPA Day at the Capitol Advocacy for CPAs and the accounting profession is a cornerstone of our association. The saying, “There is strength in numbers,” is especially true when working to promote and protect the interests of members. You are invited to be a part of Iowa CPA Day at the Capitol on Jan. 17 and make sure our state’s policymakers understand issues affecting the profession. From CPA pipeline concerns fueling the shortage of auditors necessary for government, schools and more, to the topic of occupational licensing bills, our voices need to be heard. The more members involved in this event, the larger the impact. Get more information and sign up for this free event at www.iacpa.org/capitol. www.iacpa.org
Iowa CPA | January 2024 | 9
Continued from page 8 groups, and to provide a summary of those discussions to the presentation leaders. Trends and key points from these tabletop discussions – the top two of which were the effects of the high volume of work and the lower starting salaries compared to other professions – were summarized and presented to the Council later in the meeting. •
AICPA Audit Committee Chair Matt Snow and Chief Financial Officer Scott Spiegel reviewed the AICPA’s financial statements and key performance indicators for the past year.
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Tracy Golden, president of the AICPA Foundation, provided an updated on the Foundation and its fundraising initiatives.
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Jan Lewis, chair of the AICPA Tax Executive Committee (TEC), and Melanie Lauridsen, AICPA vice president of tax policy and advocacy, provided a summary of current tax issues, including the IRS efforts to combat the credit mills that are promoting, preparing, and filing fraudulent Employee Retention Credit claims. Other topics included the Beneficial Ownership Interest (BOI) reporting requirements going into effect in 2024, as well as progress related to the Simplify Automatic Filing Extensions (SAFE) Act and legislation to renew immediate expensing of research and development expenditures.
CLASSIFIEDS
DIRECTOR OF FINANCIAL REPORTING AND BUDGETING: Iowa State University Foundation. In this role, you will be responsible for oversight of the Foundation’s budget and disbursement functions, as well as financial reporting, audit coordination, and compliance. Bachelor's degree required. CPA, MBA or MAcc preferred. Please use the link to apply and for further information. https://recruiting2.ultipro.com/ IOW1003ISUF/JobBoard/54808a5b-636b-46c6b2ef-17bc94c7295b/OpportunityDetail?opportunit yId=7818fbff-600e-4c35-b7ba-baaa8849bbad Based on qualifications and experience, the selected candidate may be hired at Assistant, Associate, or Director level. 2+ years of experience are required, preferably in auditing and nonprofit accounting. For more information on working at the ISU Foundation, visit our careers page at www.foundation.iastate. edu. Contact Emily Bingaman at humanresources@ foundation.iastate.edu.
10 | Iowa CPA | January 2024
•
Mark Peterson, AICPA’s executive vice president for advocacy, and Marta Zaniewski, AICPA’s vice president of state regulatory and legislative affairs, provided a summary of the AICPA’s key federal and state legislative efforts, including the potential consequences of the 2024 presidential and congressional elections, ESG legislation, recognizing accounting as part of science, technology, engineering, and math (STEM) curriculum, expanding the use of Section 529 plans to fund activities needed for licensure, and the ongoing issues of licensing reform and taxes on professional services.
As I left the meeting, I was encouraged by the fact that, despite healthy differences of opinion that may arise, the AICPA, state CPA societies, and individual CPAs are focused on the same goal, which is maintaining the status of CPAs as trusted advisors for our clients and businesses. I appreciate the opportunity to serve as the Iowa Society of CPAs’ elected representative to the AICPA Council. Please feel free to contact me at dvandekrol@nyemaster.com if there is anything I can do to be of assistance. Dwayne Vande Krol is a shareholder at Nyemaster Goode PC in Des Moines. He is the Society’s elected AICPA Council representative and has been an ISCPA member since 1994.
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www.iacpa.org
A month of impact, inspiration
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owa Society of CPAs joined the AICPA and other state CPA societies to increase the impact of national Accounting Opportunities Experience, a monthlong outreach campaign for high school students. Expanded from the one-week campaign in 2022, our 2023 efforts provided more members with time and opportunity to share what the accounting profession has to offer. This year’s activities included 49 Iowa CPAs giving presentations in 39 Iowa high schools from LeMars to West Branch, classroom and school events reaching over 2,326 students, and a proclamation that November was Accounting Opportunities Month in Iowa from the Governor’s Office. This program is a great way to get the conversation started between Iowa CPAs and high school business educators and students. Susan Stutzel of S Stutzel CPA LLC in Tipton shared, “Thank you for making this process so easy on my side! The presentation at Wilton High School went well. There were 13 students, none of which were considering accounting, but hopefully this opened the possibility. They were a very attentive class and have already asked if I could keep coming back.” High school business educators across the state were appreciative of ISCPA members’ time and commitment to the profession. “The presentation went well! Students were SOOOO interactive!" said Katie Kerker of RSM US LLP in Cedar Rapids. ISCPA plans to continue pairing interested members with schools in their communities and scheduling more presentations because we know that Accounting Opportunities Experience goes well beyond one month. ISCPA’s acCOUNTing ME IN program provides members with simple presentation materials and handouts needed to make a great classroom visit. If you are interested in talking about your passion for the profession, let us know. Contact Natalie Harwood at nharwood@iacpa.org.
www.iacpa.org
Accounting Opportunities Experience volunteers Barry Boorn
Dustan Kneip
Sally Boyer
Gabby Koithan
Alex Brennecke
Bob Krogmeier
Valerie Culp
Kaitlin Ledvina
Ben Currie
Alex Merfeld
Jackie Dammeier
Hunter Moore
Amanda Daughtery
Ashley Mowery
Dan Dekker
Cassidy Mulder
Libby Van De Pol
Alexis Munsell
Ashley Didesch
John Murphy
Rod Foster
Michelle O’Neill
Todd Glynn
Jennifer Penning
Kris Gulick
Davis Roquet
Ben Hansen
Rachel Ruplinger
Katie Holm
Joshua Shelter
Justin Jacobsma
Jenna Siberz
Mike Jensen
Kristina Spieker
Mike Jones
Andrew Steckel
Matthew Kelderman
Susan Stutzel
Gina Keck
Michael Trettin
Katie Kerker
Kevin Willhelm
Thank you!
Iowa CPA | January 2024 | 11
CPE Spotlight Get busy season ready with January tax updates JAN. 4
Intermediate Individual Taxation, Webcast
JAN. 8
Monthly Federal Tax Updates - January 2024, Webcast
JAN. 11 JAN. 16
Federal Tax Update: Individual & Business Current Developments, Live virtual seminar Federal Tax Update - Individuals (Form 1040), Webcast
JAN. 22
Tax Depreciation: Review and Update, Webcast
Upcoming CPE for Business and Industry JAN. 8
Inventory, Expense and Payroll Fraud, Webcast
JAN. 16
Implementing and Maintaining an Internal Control System, Webcast
JAN. 23
Budgeting: Presenting and Communicating your Numbers, Webcast
FEB. 2
CFO Series - February 2024 Webinar Bundle, Webcast
FEB. 13
Surgent's Artificial Intelligence for Accounting and Finance Professionals, Webcast
MAR. 26
Business and Industry Conference, Ankeny
New seminars on ERC and PTET ERC: How to Prepare Your Clients for Audit Jan. 9 | 12-1 p.m. CT | 1 hour CPE Join attorney Ashlee Hall of Figure Financial for this interactive virtual presentation on the current state of the Employee Retention Credit (ERC). Discover strategies to prepare your clients for audit and navigate situations where clients might have received a credit for which they were ineligible. Gain practical insights on how to handle such scenarios effectively. Ashlee will go in-depth into the ERC law and guidance and provide specific examples and advice to help CPAs prepare clients for an ERC audit.
Iowa's Pass-Through Entity Tax: Guidance and Q&A Jan. 24 | 9-10:40 a.m. CT | 2 hours CPE Explore the intricacies of Iowa's Pass-Through Entity Tax (PTET) with Joe Kristan, CPA, and Iowa Department of Revenue directors Mike Mertens and Kurt Konek, CPA. This session will cover crucial topics, including timing issues with PTET deductions, potential mismatches between deductions and credits, strategic uses of the PTET election, tax issues with PTET refunds and more. Time will be dedicated for Q&A where you can fire away with all your pressing PTET questions. Don't miss this opportunity to clarify any uncertainties and supercharge your understanding of Iowa's new PTET election.
12 | Iowa CPA | January 2024
www.iacpa.org
Did you know? ISCPA is a 501c(6) organization. This designation means ALL our earnings must be reinvested back into the organization. There are no shareholders – just our wonderful members! One of our primary sources of revenue comes from the robust professional development opportunities we provide. Whether it's attending ISCPA conferences, seminars, webcasts, or other events, you're not just enhancing your knowledge and skills, you’re directly impacting our ability to serve you and the entire profession.
CONFERENCES AT A GLANCE Coming in 2024! usiness & Industry B Leadership Conference and Annual Meeting May 14 Iowa Governmental Roundtable May 21 Financial Institutions June 10-11 Technology June 20 Insurance Industry Aug. 7 Emerging Leaders Sept. 19- 20 Fall CPE March 26 May 2
We get it; there are numerous options out there. As you plan your professional development for the year, we have a simple request: choose ISCPA. By doing so, you're not only making a smart decision for your professional growth, but you’re also helping us pay it forward. Thank you for being part of our mission!
Save the date! 2024 ISCPA Leadership Conference and Annual Meeting May 2 | The Meadows Events & Conference Center, Altoona Celebrate with us on a new day of the week – Thursday! • Professional Issues Update with Okorie Ramsey CPA, CGMA, PMP, NACD.DC. • Keynote: Focus on the 5th Question, with Gina Glover • Iowa CPA Awards • Foundation Scholarships • Election of ISCPA leaders
Scan Here
Delivering Results - One Practice At a time
www.iacpa.org
Trent Holmes
800-397-0249
Trent@APS.net
www.APS.net Iowa CPA | January 2024 | 13
Welcome! The following individuals have recently joined the Society. Please take time to welcome them and invite them to participate in events and programs with you. Find these members in ISCPA’s Member Directory at www.iacpa.org/my-cpa. Lexi Brannaman Clifton Larson Allen LLP Cedar Rapids
Steve Speer KPMG LLP Des Moines
Kevin Furey Chateau Development LLC Lincoln, Neb.
AFFILIATES Zach Doehrmann MHCS PC West Des Moines Mark Pifer Honkamp PC Dubuque
New Student Affiliates Drake University Drew Bramlett Hayden Cross Jack Ekholm Andrew Jankowski Layla Kostusak Nolan Larsen Melissa Moxon Liam Nugent Grand View University Jennifer Robinson University of Dubuque Briane Arzbaecher Jacob Bonnema
Ashtyn Brinker PJ Donnelly Rashuan Duck Mary Edwards Kacey Eimers Aidan Elfering Sarah Fergus Zachary Floss Brady Harnung Riley Hawotte Caitlyn Heiderscheit Abbigayle Hentges Nate Holm Nic Hubbard Kaitlyn Kuhl
Morgan Lahner Kyla LaRue Aleda Lee Nate Lemmons Lauren Livingston Daniel Maller Matthew Marchiori Brendan McQillan Taylor Menster Isaac Minger Amanda Moyer Erik Odegard Seth Poll Hunter Preston Brittney Reisen
Madelyn Remek Bennett Robson Alexa Roeder Ava Runde Suad Smajlovic Elizabeth Stoffel Amy Theilan Giorgos Vallianatos Jarumi Vazquez Hayden Warner Matthew Wolverton
Samantha Jankowski has been hired by Ames National Corporation, Ames, as director of financial reporting and budgeting.
Hank Norem CEO of Ramco Innovations, West Des Moines, will serve as Chief Innovation Officer of Sukup Innovations as part of a recent acquisition by Sukup Manufacturing Co. of Sheffield.
Members in the news Jaime Ackles TDT CPAs and Advisors PC, Mount Pleasant, has been promoted to partner. Kristen Benzen has been hired by Athene USA, West Des Moines, as tax accountant II.
FIND A CPA
Jenna Day has been hired by Regenexx, Des Moines, as controller. Gavin Glenn has been hired by The Baker Group, Ankeny, as senior tax strategy consultant.
Brad Mihm has been hired by Honkamp PC, Dubuque, as valuation manager.
Join the Find a CPA Directory at www.iacpa.org/find-a-cpa
14 | Iowa CPA | January 2024
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STAFF SPOTLIGHT
HANNAH ROSE HENDERSON POSITION: Marketing and Graphic Design Coordinator HOMETOWN: Panora, Iowa ALMA MATER: Liberty University Hannah and her husband Gus live in West Des Moines with their dog Bubba.
First job as a teen: My first job was as a dietary aide at a local nursing home. What I wanted to be when I grew up: When I was little this changed often, but I have always wanted to be a mom. I am passionate about: Jesus, gift giving, tea, crochet, and fall fashion. Why did you want to come work for ISCPA: I was attracted to this position for various reasons. To begin with, the creative challenges presented by the diverse array of projects and events stood out to me. It seemed like there were so many opportunities to contribute and not a lot of space to be bored. Second, the flexible work environment was very attractive. And lastly, the opportunity to work independently and collaboratively was a big selling point. I am a very social person, so I enjoy being able to take part in that with my work, and I also value the space to work independently so I can let the creative juices flow and develop ideas on my own. My favorite thing about my new job so far: One of the aspects I love most about my job is the opportunity to bring creative visions to life. Every project is like a blank canvas where I can apply my design skills and turn ideas into visually compelling and impactful creations. I enjoy being able to see these designs from start to finish. I also appreciate the collaborative nature of the work. Working closely with my fellow team members allows me to understand different perspectives and integrate them into the final product. My team members are also incredibly friendly and helpful! I am so glad I chose the Iowa Society of CPAs!
People don’t know this about me, but I: am quite particular about my water quality. I prefer specific types of filtered water and have a strong aversion to tap water. When I have free time, I enjoy: Turning on a good show and working on my current crochet project. Last book I read: The Bible! If I weren’t a marketing and graphic design coordinator, you might find me: As an elementary school music teacher. Music Education was my first major in college until I changed gears. I still love to sing in my spare time and volunteer with the worship team at my local church! I never leave home without: My emotional support water bottle. Favorite movie: So hard to choose! But I love the 2020 version of Jane Austen’s Emma with Anya Taylor-Joy. Favorite food: Anything crunchy and salty! But specifically, my sister-in-law’s Greek falafel bowls. Favorite vacation spot: I'm open to visiting any place that offers a relaxing environment and excellent coffee shops! Especially if I have the company of my husband! Favorite band or musician: Antoine Bradford and Madison Cunningham. Best concert you’ve been to and where: Madison Cunningham, Iron & Wine, and Calexico at Hoyt Sherman Place. Place I’d love to live: Somewhere on the West or East Coast! I love the idea of being near the water!
Favorite app: Amazon
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Iowa CPA | January 2024 | 15
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