2012 First Edition CPA Report

Firs t Edition 20 1 2

CPA Report South Carolina Association of Certified Public Accountants

NEW INITIATIVES

in IRS-CI International Highlight Global Partnerships

PLUS

AICPA National Tax Conference

A Look Back at the 2011 CPA Summit AICPA National Tax Conference

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CPA Report South Carolina Association of CPAs

South Carolina Association of Certified Public Accountants Magazine Volume 42, First Edition 2012 Officers Michael R. Putich, CPA, Chair Sharon E. Mann, CPA, Chair-elect Malynda M. Grimsley, CPA, Vice Chair J. Bratton Fennell, CPA, Secretary-Treasurer Timothy L. Baker, CPA, Immediate Past Chair BOARD OF DIRECTORS William R. Barefoot, CPA Charles E. “Eddie” Brown, CPA Patrick P. Carey Jr., CPA Zoe M. Davis, CPA Amanda Hallman, CPA Suzanne Harnois, CPA Cheryl O. Lang, CPA Penny A. Lewis, CPA A.D. “Dave” Masters, CPA J. Patrick McDermott, CPA James W. McIlrath, CPA Philip R. Snipes, CPA Michael J. Targia, CPA, CFA Robert M. Tilton, CPA Beth T. Zamorski, CPA CHIEF EXECUTIVE OFFICER Erin P. Hardwick, CAE MANAGING EDITOR Maureen Taylor GRAPHIC DESIGNER Lisa S. McGee Contributing writers April Blake Reva Brennan, MPA, CAE, IOM Amanda S, Colgate, CPA John L. Daly, CPA, CMA, CPIM Erin P. Hardwick, CAE Mark T. Hobbs, CPA, CFF J. Patrick McDermott, CPA Debbie McDonough, CPA Derrick B. Stark, CPA Maureen Taylor V. Carroll Webster , CPA Walda Wildman, CPA 2012 Editorial Board Charles E. Alvis, CPA, MPA, MBA, Chair John B. Brantley, CPA Amanda S. Colgate, CPA Lisa S. Cooke, CPA Erin P. Hardwick, CAE Karen A. Hursey, CPA Lesley H. Kelly, CPA Margaret L. Lattimore, CPA Anthony G. Masino, CPA A. D. “Dave” Masters, CPA Derrick B. Stark, CPA V. Carroll Webster, CPA, MBA

Features 11 14 16

New Initiatives in IRS-CI International Highlight Global Partnerships IRS-DOR Annual Meeting AICPA National Tax Conference

In This Issue 4 An Interview with SCACPA’s 2012 Chair 18 Despite Effects of Estate Tax Relief, Trusts Remain an Attractive Planning Tool - Part II 21 Ethically Speaking 22 A Look Back at the 2011 CPA Summit 23 Your 2012 Board of Directors 24 South Carolina’s New CPAs 25 SCACPA Members Recognized for Achievements in the Profession, Community 26 Scholarships Awarded to 20 Accounting Majors 28 SCACPA 2012 Committee & Task Force Chairs 30 2011 Fall Conferences in Review 33 2012 Lifetime Members

In Every Issue 6 8 20 32

Association News On Your Behalf Board of Accountancy News Member News

33 34 35 38

Welcome New Members Chapter Connections Upcoming CPE Classifieds/Advertiser Index

Statements of fact and opinion are made by the authors alone and do not imply an opinion on the part of the officers or members of SCACPA. Advertising rates will be furnished on request to SCACPA, 570 Chris Drive, West Columbia, SC 29169, (803) 791-4181. Publication of an advertisement in The CPA Report does not constitute an endorsement of the product or service by The CPA Report or SCACPA. (888) 557-4814 | www.scacpa.org

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AN INTERVIEW WITH SCACPA’S 2012 CHAIR My goal this year is to lead efforts to help the association as a whole grow and become more capable of meeting its mission in collaboration with our eight regional chapters. -- Michael Putich, CPA Tell us about your experience as a CPA; why or how did you first choose the profession and past and current areas of practice/firm info.

My first taste of accounting came when I was serving as a missionary for my church in Milan, Italy in 1984. During my two year service I was asked to serve as the financial secretary of the mission. After returning home, I attended Brigham Young University as an advertising major. Following graduation, I took a job in Cleveland, Ohio with an advertising agency.

In December 1990, at the onset of a recessionary period, I found myself without a job. I struggled to find employment during that period and decided that I would reconsider my employment situation and abandon what I initially set out to do for something that I was told would be more rewarding -- accounting. Because I already had a degree I took the required accounting coursework to sit for the CPA exam.

p Michael enjoying some leisure time.

Michael Putich, CPA, is president of Robinson Grant & Co., P.A. He can be reached at 843-342-5151 or via email at michael@robinsongrant.com.

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My first accounting job was as a staff accountant for Premier Industrial Corporation. I worked for Premier while I continued my education at Cleveland State University. In December 1994, I took a job with a regional public accounting firm in Northeast Ohio, Saltz Shamis and Goldfarb. I worked there for approximately five years both in their audit and tax departments. In

1999, my wife, originally from South Carolina, and I decided to relocate closer to her family and we moved to Beaufort County.

I started as a senior accountant with Robinson Grant & Co., P.A. and have progressed as manager, principal and now stockholder. I currently serve as president of the 18 person, three office firm. Robinson Grant is the largest locally-owned CPA firm in Beaufort County. We are heavily involved in tax work and perform attest services for homeowner associations, not-for-profit organizations, governments and closely held businesses.

How and why did you become involved with SCACPA? I was fairly new to South Carolina when I first became involved with SCACPA. I saw it as an opportunity to meet new people and make new friends, particularly people who shared the same interests with me. My first involvement with SCACPA was serving as treasurer of the Sea Island Chapter back in 2001. After serving as treasurer, no one stepped up to succeed the outgoing president so I volunteered and was elected. I found it very rewarding to be responsible for planning the events of our chapter and working with a local chapter board that was fairly new. I got to meet many of the CPAs in our small Beaufort County chapter.

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To date, what about SCACPA involvement has been the most meaningful or impactful to you personally, and perhaps to the membership at large?

• Giving back to the profession.

• Opportunity to meet and work on committees with intelligent and interesting people throughout the state.

• The experiences I have had help me become a better CPA. As part of its five-year strategic goals, SCACPA recently completed a research project to gauge value and identify additional opportunities to serve members. How will this information be used to better meet members’ needs and expectations?

As SCACPA’s leaders strive to move the association forward it must do so with a clear understanding of what the membership values and perceives. The research project that we are undertaking is enabling us, as association leaders, to understand these perceptions. Approximately 14 percent of the SCACPA membership completed the internet survey.

The last of the eight focus groups were held in January with about 90 members taking part. In all, the research project allowed more than 15 percent of our members to share their thoughts and opinions.

The data that we obtain will be compiled in a format that will allow for discussion and interpretation. The information will help us better understand why people

join, why members leave, what benefits they value and what benefits they don’t.

The project will also act as a scorecard for the association. Where is the association succeeding and where does it need improvements? At the end of the project, the data will drive the direction of what decisions the board of directors must make to provide better services, programming and benefits to the membership of the association.

As SCACPA chair, what are your top goals for 2012?

During our August 2010 board retreat, the leadership of our association put in place a plan that exceeded the current president’s one-year term. It is a fiveyear plan. My top goal for 2012 is to see to it that progress continues in each of five major initiatives within our strategic plan. Task forces are working now on advancing each of the five initiatives, which include: CPE delivery and marketing; communication, marketing and branding; profession advocacy; young professionals; and association governance and structure.

As we completed our first year with the five-year plan many discussions took place. We discussed where the association had been, where it was now and where we wanted to see it go. Direction for the future is being discussed and deci-

sions are being made. During my term as chair, there will be noticeable changes taking place. These changes will likely be most visible in the area of chapter administration and should encourage participation and volunteerism at the chapter level. Volunteering at the chapter level is designed to provide members with opportunities to give back to the profession, network with their peers and exchange ideas and be given opportunities to learn and develop leadership skills. We feel that our proposed changes will enhance these objectives.

If you could choose just one thing to accomplish, create or improve during your tenure, what would it be?

The most important thing I would like to accomplish during the year, in addition to moving forward with our fiveyear plan, would be to bring a sense of oneness to the association. I have heard some express an opinion that the state association and our eight chapters compete for services to members. As I have served as a chapter officer and a SCACPA board member over the past eight years, I can say that that is far from reality. We are one association – the state association and its chapters. We have the same goals and mission. And my goal this year is to lead efforts to help the association as a whole grow and become more capable of meeting its mission in collaboration with our eight regional chapters.n

HOMETOWN Northeast Ohio (suburb of Cleveland, Ohio) FAVORITE BOOK Good to Great by Jim Collins FAVORITE MOVIE Remember the Titans FAVORITE HOBBIES Attending children’s activities/athletic events

p 2011 Board President Tim Baker passes the

p Michael and SCACPA member Kitty Wates at the 2011

gavel to Michael Putich during the business meeting at the CPA Summit.

Professional Issues Update in Spartanburg.

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FAMILY Wife - Monica Weatherford (registered nurse) Three daughters - Ciri, 23, sophomore at Utah Valley University; Madison, 16, 11th grade; and Emeree, 12, 7th grade.

Two sons - Aaron, 21, sophomore at Brigham Young University-Idaho; Braden, 19, freshman at Brigham Young University-Idaho South Carolina CPA Report

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Clarkson Family Shares a Piece of History

And the Winners Are…

In October, SCACPA lifetime member Crawford Clarkson along with family members, shared stories of his father’s early days in accounting with SCACPA’s board of directors. Following Crawford’s remarks, a framed photograph of A.C. and a copy of the #1 certificate was put on display in the board room. Harry Gregory, also a lifetime member, was instrumental in initiating the recognition.

Winners were Charles (Eddie) Brown, CPA, Spartanburg; Helen Sieger, CPA, Ladson; John J. Quin, CPA, Ballentine; and Martha Roof, CPA, Lexington.

South Carolina issued the first CPA license on March 23, 1915 to A.C. Clarkson.

And now, thanks to two SCACPA members, a piece of the profession’s history is on permanent display in the association’s headquarters.

Crawford fondly recalled his father’s stories of practicing in the 1930s. A time when the city paid in scrip and clients often in barter. After obtaining his certificate, number 128, Crawford worked with his father in the area of audit and while interesting he described it as “radically different” than today’s audit practice.

One thing that didn’t change over the years was the Clarksons’ involvement in SCACPA. A.C. served as president of the association in 1922 and Crawford in 1958.

Four SCACPA members each won a $250 gift card by participating in SCACPA’s online survey in November.

The survey and drawing were conducted by an independent consultant, Work Volf of Charleston.

Thank you to all of the members that participated.

2011 Committee Reports p Crawford Clarkson, Harry Gregory and 2011 Board President Tim Baker with the a copy of the framed license belonging to A.C. Clarkson.

SCACPA’s committees and task forces had a productive year in 2011.

For an overview of accomplishments and activities by committee, read the year-end reports online at www.SCACPA.org/2011Reports.

PROMOTING THE PROFESSION Young CPAs Lend a Hand to Those Less Fortunate SCACPA’s Young CPA Leadership Cabinet recently prepared meals for those less fortunate in the Greenville area. The cabinet lent a hand to Project Host, a community food organization that prepared over 58,000 meals last year and assisted 200 Greenville area residents.

“As a CPA, I feel we are fortunate to have a steady and reliable profession. It was such a blessing to be able to give back and help those that are less fortunate or down on their luck. I could see the smiles on my fellow cabinet members’ faces as we cooked and served the food and then conversed with the people at the soup kitchen, ” said Ashley Thiem, cabinet chair.

Established in 2000, the Young CPAs Leadership Cabinet provides programs and resources for those 35 and under to help them become more engaged in the profession and the community.

Visit the SCACPA website at www.scacpa.org/youngcpas to CLICK learn more about the Young CPA Leadership Cabinet.

Are YOU out in the community promoting the profession?

If so, please email mtaylor@scacpa.org and let us highlight you in the next issue of the CPA Report.

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To see more photos of the Young CPA Leadership Cabinet in action visit the CLICK SCACPA website at www.scacpa.org/ expandedcpareport (888) 557-4814 | www.scacpa.org

SAVE THE DATE - 2012 CPE! 2012 Conferences

Spring Mega Conference *………………………… May 17-18, Columbia

Industry Conference ……………………………… May 21-22, Columbia Emerging Leaders Conference …………………… August 16-17, Columbia

SCACPA 570 Chris Drive, West Columbia, South Carolina 29169 (803) 791-4181 or Toll-free (888) 557-4814 Fax (803) 791-4196 | www.SCACPA.org

Personal Financial Planning Conference………… October 23, West Columbia Women in Leadership Conference ……………… October 18, Columbia Annual Summit …………………………………… November 1-2, Columbia (combined with Tax & Technology) Governmental Bonus Workshop ………………… November 13, Columbia Accounting & Auditing Conference……………… December 6-7, Charleston

2012 Vacation Clusters

Lowcountry Cluster..……………………………… July 16-18, Hilton Head

Coastal Cluster..…………………………………… August 13-15, Charleston

Upstate Cluster… ………………………………… September 19-21, Greenville *Spring Mega Conference - In May 2012, SCACPA will combine three spring conferences into one 2-day conference with three tracks. The Benefit Plans, Government and Nonprofit Conferences will be combined into one event, but you will have the opportunity to choose breakout sessions for all three areas.

STOP! Don’t Let Your Member Benefits Expire

If you have not yet renewed your membership for 2012, now is the time. The membership year runs Jan. 1 – Dec. 31 and members that do not renew by March 1 will incur an additional fee.

Chief Executive Officer

Chief Operations Officer

Glenna P. Osier Peer Review & Member Services Manager Ext. 107, gosier@scacpa.org

eMaterials

In order to make certain you don’t miss a beat when it comes to quality CPE, peer review, networking opportunities, communications and legislative advocacy, log into your account at www.scacpa.org, go to “My Membership” and click “Renew.” If you need additional assistance contact Maureen Taylor at mtaylor@scacpa.org or April Blake at ablake@scacpa.org

SCACPA Going Paperless

Communications Manager

Have you heard? SCACPA conferences and workshops are going paperless.

Beginning April 1, 2012, SCACPA conferences and workshops will provide materials in electronic format only.

To find out more about this new process, including how to download your eMaterials, visit www.scacpa. org/eMaterials.

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F

or the profession, by the profession – that’s what the South Carolina Association of CPAs is all about. SCACPA’s board of directors, committees and task forces and Young CPAs Leadership Cabinet are hard at work making decisions, providing guidance and embarking on projects and programs that strengthen the profession and enable members to improve their knowledge, network and technical skills.

NEW SCHOLARSHIP FUNDS CREATED

p (From left) AICPA Vice Chair Rich Caturano, SCACPA’s 2012

Chair Michael Putich, SCACPA CEO Erin Hardwick and AICPA CEO Barry Melancon during the fall Leadership Conference sponsored by the CPA State Executives Association.

This fall two new scholarship funds were created. The Central Chapter added to an existing endowed scholarship for their chapter that creates an annual scholarship of $2,500 for graduate students. The Coastal Chapter is making a contribution to complete the creation of the Francis Humphries, CPA Memorial Scholarship Fund. These new endowed funds join many other funds created by CPA firms, individuals and chapters of SCACPA. The funds, which are available to accounting majors at South Carolina colleges and universities, help deserving students on their path to becoming a CPA.

HEALTH INSURANCE PLAN CHANGES FOR SCACPA MEMBERS

Healthcare Scholarships

IRS & DOR

Strategic Planning

SC BOA

Due to market forces, the decade-old health insurance plan sponsored

by SCACPA is being dissolved. Participation in the plan has waned dramatically over recent years. Those who remained on the plan were offered alternative small group or individual plans at Carolina Care Plan.

SCACPA is exploring new options for health insurance for members.

STRATEGIC PLAN UPDATE Communication, marketing and branding combine to encompass one broad goal in SCACPA’s five-year strategic plan. This goal focuses efforts on 1) SCACPA communicating with its members in a more effective way; 2) helping CPAs grow their practices by providing access to marketing resources and education; and 3) branding the CPA profession in the public eye as a distinct and high-level accountant.

As part of this initiative, SCACPA conducted an in-depth research project to determine what members want and need from their professional association. An online survey (with over 500 responses) and eight regional discussion/focus groups (approximately 90 participants) have provided a wealth of data to help SCACPA serve its members even better in the future. More on the results of this research will be published in the May 2012 edition of The CPA Report.

SCACPA MEETS WITH IRS AND DEPARTMENT OF REVENUE Every fall, the SCACPA Taxation Committee hosts a daylong meeting with senior staff of the IRS, the DOR and SC BOS. For several months leading up to this meeting members of SCAPCA have the chance to submit their comments and questions, which are then shared with agency staff and discussed face-to-face at this annual meeting. See the article in this magazine on page 14 by Dr. Caroline Strobel for a summary of the meeting.

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REGULATORY WATCH Over the fall, members contacted SCACPA over concerns about new administrative policies relating to CPE. SCACPA formally requested that the Board of Accountancy (BOA) reconsider these new policies. At the BOA’s Dec. 1 meeting, SCACPA representatives testified on behalf of members. After careful deliberation the BOA voted to resolve each of the three concerns SCACPA brought forward. To the right is a brief description of the issue along with the BOA's final decision. n

Erin P. Hardwick, CAE,

has served as SCACPA’s chief executive officer since 2005. She currently serves as vice president of the CPA Society Executives Association, a member of the AICPA Horizons 2025 Advisory Panel, a member of the S.C. Secretary of State’s Nonprofit Advisory Council and the S.C. Economics Board of Directors.

ISSUE B

ISSUE A Over the summer 2011, the method by which the BOA categorized some CPE fields of study greatly expanded the types of courses that were considered personal development.

Courses that might pertain directly to one's practice, once considered specialized knowledge, were largely considered personal development under the new rules.

BOA Decision As requested by SCACPA, the S.C. Board of Accountancy voted to accept NASBA's field of study categories as the guideline for determining categorization for CPE programs. To view the list of categories, visit the websites of NASBA.org and click on the Education tab.

SAVE THE DATE!

Webcasts, not webinars, were considered ineligible for CPE credit. Webcasts were not accepted due to their limited interactivity aspect.

BOA Decision Effective Dec. 1, the S.C. Board of Accountancy will accept webcasts for CPE, if the presentation is live, interactive, and the webcast has the proper attendance controls in place.

To get more details, visit www.llr. state.sc.us/POL/ Accountancy.

ISSUE C The S.C. Board of Accountancy began requiring CPAs to report CPE credits to the BOA by submitting a CPE reporting form and providing the certificates of completion/attendance for each reported CPE course.

BOA Decision Effective Dec. 1, CPAs were not required to submit individual attendance CPE forms for live programs attended with their reporting form. However, licensees must submit attendance forms for self-study programs. Self-study programs must be QAS approved. To view a list of QAS approved sponsors visit NASBA. org or the South Carolina Board of Accountancy website.

CPA Day at the State House Wednesday, May 2, 2012 Columbia Metropolitan Convention Center www.scacpa.org/cpaday

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TAX FEATURE

in IRS-CI International Highlight Global Partnerships

by Jennifer Vozne and Rebecca Rish, IRS-Criminal Investigation

I

nternational tax compliance is a top priority of the IRS. IRS-Criminal Investigation (CI) has an important role in international tax compliance and has developed an evolving international strategy to combat offshore tax evasion.

CI is committed to the fight against tax evasion, money laundering and financial crime worldwide.

regarding a taxpayer’s tax obligations sooner rather than later, consistent treatment for taxpayers and efficient use of government resources. These goals are at the core of the IRS’ mission — to collect the proper amount of tax and to efficiently use our enforcement tools to foster ongoing compliance by all taxpayers.

We believe taxpayers and tax authorities want the same thing out of a tax system, whether it is the United States, or a foreign, state, or local system. We all desire a balanced tax administration system that provides for certainty

CI is the only U.S. law enforcement agency with jurisdiction over federal tax offenses. This jurisdiction is granted by the Internal Revenue Code, the U.S. tax code, which establishes several forms of conduct which constitute criminal tax violations and grants CI the authority to enforce the law and investigate suspected tax crimes. CI also has jurisdiction over and investigates Bank Secrecy Act and money laundering violations. In other words, we have the training and ability to work almost any complex financial crime.

We categorize our investigations as legal source tax crimes, illegal source financial crimes and narcotics-related

continued on page 12

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TAX FEATURE and counterterrorism financial crimes.

Our international efforts spread over each of these categories. International Operations is responsible for overseeing and facilitating CI’s offshore efforts through international case development involving tax and financial crimes and by providing investigative assistance to our domestic field offices and foreign partners.

International Operations coordinates closely with other IRS operating divisions and in particular Large Business and International (LBI), the IRS competent authority for tax matters. We also closely partner with FinCEN, the U.S. financial intelligence unit. FinCEN, a federal agency within the Department of Treasury, administers the U.S. Bank Secrecy Act in part by supporting the federal law enforcement and regulatory community by collecting information about financial transactions and providing analysis and trends on money laundering and financial crimes.

CI also partners with other U.S. law enforcement organizations through task forces and joint investigations. CI has expanded its overseas presence to build strong relationships with our foreign government and law enforcement partners in support of international compliance efforts. CI’s International Operations stations CI special agents in several key foreign embassies and consulates worldwide. Currently, we have special agents assigned to 10 permanent foreign posts including

Colombia, Mexico, Great Britain, Germany, Canada, China, Barbados, Hong Kong, Australia, and Panama.

Attachés are able to develop stronger alliances with our foreign government partners and foreign law enforcement counterparts by being physically located at the overseas posts. These strong alliances provide CI the ability to develop international case leads and to support investigations.

We also work to develop strong overseas relationships and build expertise through the financial investigative training we conduct in partnership with the other U.S. law enforcement agencies in foreign countries. CI special agents have a unique combination of financial investigative skill plus law enforcement expertise that is universally sought by other U.S. law enforcement agencies and foreign governments. CI special agents have provided financial investigative techniques training to dozens of foreign government law enforcement agencies and thousands of law enforcement officers and tax officials.

IRS has instituted formal working agreements with many foreign authorities. In addition to tax treaties, CI continues to seek opportunities to expand the use of the Simultaneous Criminal Investigation Program (SCIP). The Simultaneous Criminal Investigation Program allows IRSCI and a foreign partner to conduct parallel investigations involving the

same entities or scheme and to share information under the auspices of the tax treaty with the foreign partner.

CI actively participates in a number of international task forces to investigate significant areas of noncompliance and criminal activity. Key among these is the Global Illicit Finance Team (GIFT).

Lead by CI, the GIFT brings together a variety of U.S. law enforcement agencies including the FBI, the U.S. Secret Service, the Department of Energy as well as federal prosecutors to address threats from international organized crime and illicit financial networks that support organized crime and other illegal activities.

CI also plays a key role in the International Organized Crime Intelligence Operations Center by supervising its financial exploitation team. This team supports the GIFT in its efforts by providing comprehensive research capabilities. All of these efforts also offer forums for information exchange and discussions from which we develop a greater understanding of the methodologies and trends in offshore tax evasion.

We continue to make strong progress in combating international tax evasion through the results from both the 2009 Offshore Voluntary Disclosure Program (OVDP) and the 2011 Offshore Voluntary Disclosure Initiative (OVDI).

The programs gave U.S. taxpayers with undisclosed assets or income offshore

“Statistically CI has demonstrated unprecedented results over the last three years in its investigative and enforcement efforts with all time highs in investigation initiations, completions and a conviction rate in excess of 90 percent. “ New Initiatives

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TAX FEATURE

As of Sept. 15, 2011, IRS collected over $2.2 billion from people who participated in the [Offshore Voluntary Disclosure Program ] 2009 program. a second chance to get compliant with the U.S. tax system, pay their fair share and avoid potential criminal charges. As of Sept. 15, 2011, IRS collected over $2.2 billion from people who participated in the 2009 program, reflecting closures of about 80 percent of the cases from the initial offshore program. IRS has collected an additional $500 million in taxes and interest as down payments for the 2011 program – a figure that will increase because it doesn’t yet include penalties.

All together from both of these OVDI efforts, taxpayers came forward and made 30,000 voluntary disclosures.

The 2009 program led to about 15,000 voluntary disclosures and another 3,000 applicants who came in after the deadline, but were allowed to participate in the 2011 initiative. The 2011 initiative generated an additional 12,000 voluntary disclosures.

Analysis of information obtained through the OVDI is being coordinated with the IRS Large Business and International division (LBI). LBI determines that taxes, penalties and interest paid by the taxpayer are correct.

CI will be reviewing data collected under this effort as well to identify additional recalcitrant taxpayers, abusive promoters and institutions facilitating offshore tax evasion.

Statistically CI has demonstrated unprecedented results over the last three years in its investigative and enforcement efforts with all time

“We believe taxpayers and tax authorities want the same thing out of a tax system, whether it is the United States, or a foreign, state, or local system. We all desire a balanced tax administration system that provides for certainty regarding a taxpayer’s tax obligations sooner rather than later, consistent treatment for taxpayers and efficient use of government resources.” highs in investigation initiations, completions and a conviction rate in excess of 90 percent. However, while we are very proud of these statistical accomplishments and more so of our talented employees from whose efforts they were derived, the numbers do not tell the whole story.

If you add all of our offshore compliance efforts together, perhaps the most important outcome is the deterrent effect. Today, banks are much less willing to facilitate offshore evasion than they were in the past. Advisors are asking more questions of their clients regarding offshore accounts and taxpayers understand that their chances of getting away with hiding assets overseas have diminished. While very difficult to measure, this deterrent effect has important, lasting, multi-billion dollar consequences for our tax system.

Operating in a global context is a reality today. Companies cross borders on a regular basis to source supplies, find new customers and access the global capital markets. Individuals embrace investment diversification

through foreign investment. In short, both individual and business activity increasingly crosses sovereign borders.

This is a challenge for government authorities whose jurisdiction stops at their countries’ borders. CI continually innovates to meet this challenge.

Disjointed, multi-government, uncoordinated oversight is not helpful for taxpayers and it is not optimal for government tax authorities. That is why it is important for the United States to move beyond cooperative government relationships to true coordinated action.

We have a multi-faceted effort under way to focus on international tax and financial crime issues. We will look forward to continuing to expand our work and our partnerships as we move forward with our international agenda.

For more information about CI, visit the website at www.irs.gov (keyword: Criminal Investigation). n Jennifer Vozne serves as executive director of Criminal Investigation, International Operations for the IRS.

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TAX FEATURE

“Gwen Sonier, taxpayer advocate, reported that there are 600,000 identity theft cases that they have identified by matching income and W-2s.”

IRS-DOR Annual Meeting

by Caroline Strobel SCACPA member since 1982

T

he SCACPA Taxation Task Force met with the IRS and DOR in November to discuss areas of concern and changes that are being made administratively.

Henrietta Duncan reported for exams saying if you have an agent who does not understand the law, call their manager. They are trying to move the exam process forward. Currently, agents are not meeting the time frame for response back to the taxpayer or their representative. New agents are out there performing audits and CPAs will be helping to train them.

If an agent and their manager don’t understand the law or the accounting records, go to appeals. Document

when you submit information to the IRS so you can request interest abatement.

Ron Nestor, appeals, reported that they have been reducing inventory, there is now a backlog of less than a year on a case. You will need to extend the statute of limitations. If you don’t like the Service Center Appeal process then request the appeal be sent to Columbia.

In Columbia they will expect a face to face meeting. When citing a court case, read the whole case, the blurb does not tell all the facts. Ninety-three percent of cases are settled. If you have not gone through appeals and go to the Tax Court, the Tax Court will send the case back to appeals first.

Gwen Sonier, taxpayer advocate, reported that there are 600,000 identity theft cases that they have identified by matching income and W-2s. There were 299,000 cases that they are involved in this year. Priority issues for this year are:

u

Economic hardship payment schedule

v

Immediate threat of adverse action - put a hold on bank accounts

w

Incur significant cost – legal counsel

x y

Suffer irreparable injury Tax levy does not allow the taxpayer to pay his mortgage.

IRS-DOR Annual Meeting

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TAX FEATURE Sheila Johnson, collections, reported that there are 92 revenue officers in the Columbia area. Collection can help with a lien on a house that is attempting to refinance. After the tax is paid, penalties can be abated.

A top priority for collections will be cases that are in arrears 20 quarters, 941s. Last year the emphasis was on $1 million cases. They are going to try to speed up processing of cases to 30-40 days or less and then make a lien determination. It takes 30 – 45 days to release a lien to sell property. You should deal with the revenue officer regarding release of a lien. Most challenges come from larger firms.

Local CPAs have been very helpful.

Erolina Ramsey, bankruptcy, reported that Jacksonville will be the new headquarters for the bankruptcy division. They are involved only when the taxpayer owes taxes. Most trouble comes because the bankrupt taxpayer doesn’t file a return. Bankruptcy is not a free ride.

Tom Oerbrick, CID, reported that they are working on tax evasion and refund

fraud. Organized crime and financial crime is about 20 percent of their cases.

Refund crime is rising out of control.

Joyce Robbins reported that volunteers are needed for the VITA program.

There is currently an amnesty program for employers who have been using independent contractors when in fact they are employees. If you are accepted into the program the fee is 1 percent of payroll and you will not be turned in to audit. You must have filed 1099s for the independent contractors. The status change from independent contractor to employee does not have to include all employees if some of the people are doing different jobs.

DEPARTMENT OF REVENUE Ricky Taylor is in charge of auditors and if you have a problem with one of the auditors you should go to him.

SC.TAX.org is the website to go to so that you can get a file number for electronic filing. The website is being worked on to update it and make it more user-friendly. There is a new Google search engine. There will

gradually be a rewrite of the electronic forms.

Form review is in process. The forms are done at the end of April and then tweaked for conformity issues after the legislative session. The jobs tax credit will be overhauled. Please send any issue you have about any of the returns to the DOR. Other items of interest: • You will now have to affirmatively opt out of receiving a debit card for tax refunds. The options are a check or direct mail deposit.

• W-2 training will be available around the first of the year with several options available.

• DOR does not input negative balances on sales tax returns. The number goes in as a positive number. n

Caroline Strobel, CPA, is a professor of accounting at the University of South Carolina, Moore School of Business. She serves on SCACPA’s Taxation Committee and previously served on the Academic Relations Committee and the CPE Committee.

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South Carolina CPA Report

15

TAX FEATURE

AICPA National Tax Conference

by Charles M. Ayers, CPA SCACPA member since 1988

W

hile the tax preparer initiative is moving forward, the IRS will delay fingerprinting requirements for preparers, according to IRS Commissioner Doug Shulman.

“We have received input on the recent background check and fingerprinting proposals. While we all share the same goal of ensuring that there is adequate due diligence on people entering this field, the AICPA and others have made a number of important points that we need to think through regarding how best to do this,” Shulman said at the 2011 AICPA National Tax Conference in Washington, DC. “And so we’ve decided to hold off on fingerprinting as we consider the issues that have been raised, and have further discussions with interested parties,” he added.

“This year, we are focusing on two categories of preparers. First, are those preparers whose clients’ returns send out a warning signal of serious problems with accuracy and errors. We are also focusing on those preparers who are not signing returns and identifying themselves with a PTIN, also known as ‘ghost preparer.’ ” — IRS Commissioner Doug Shulman Included in the “others” is SCACPA. The Taxation Committee of SCACPA submitted a letter supporting the AICPA’s concerns about this proposal to the IRS. While the background checks and fingerprinting have been put on hold, the IRS is about to begin the testing part of the program. Commissioner Shulman also said there were no plans to extend the testing to forms other than 1040. Preparer enforcement and

compliance will also see increased activity.

“This year, we are focusing on two categories of preparers. First, are those preparers whose clients’ returns send out a warning signal of serious problems with accuracy and errors. We are also focusing on those preparers who are not signing returns and identifying themselves with a PTIN, also known as ‘ghost preparer,” Shulman said.

AICPA National Tax Conference

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South Carolina CPA Report

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TAX FEATURE As part of the Return Preparer Program, tax preparers are to register and obtain a Preparer Tax Identification Number (PTIN). To date the IRS has issued approximately 740,000 PTINs. Also included in enforcement activity will be letters sent to preparers whose returns have had questionable traits on schedules A, C and E as well as highly questionable Earned Income Tax Credit claims. Over 20,000 letters were sent to preparers in October and over 2,500 visits will occur during the coming filing season. The visits will be made to preparers that have been picked due to an assessment of higher risk. IRS agents have been instructed to show flexibility in scheduling these visits.

The most flexibility should be shown to year-round tax preparers as opposed to seasonal preparers. If practitioners experience problems they should notify AICPA Leadership. The Criminal Investigation Division will also be looking at preparers where fraud and other illegal activities are suspected.

Their investigations may include “undercover shopping visits.”

Farris Fink with the Small Business/Self Employed Division discussed several items of interest including the fresh start initiative in the collections area.

The criteria for the streamlined offer in compromise program have changed.

The income limit has been increased to less than $100,000, up from $50,000,

and the balance due must be less than $50,000. These offers will be worked in a central site. In addition, the IRS employee will be allowed to talk to the taxpayer/POA rather than having to do all information gathering by correspondence.

Fink also relayed that there are changes in some of the lien programs.

One example is that liens may now be “withdrawn” rather than just “satisfied” if paid in full. The taxpayer must request the withdrawal and it must be in the best interest of the taxpayer and the government. In addition, under certain circumstances, the lien may be withdrawn if the taxpayer owes less than $25,000 and enters into a direct debit installment agreement.

In the compliance/exam area Fink shared the ongoing dialogue concerning the use of accounting software in audits.

Due to input from the AICPA and state societies, there have been some changes and some potential problems resolved.

The compliance area will continue to focus on abusive transaction promoters, bad preparers, and return line item schemes. Some of the schemes that are currently being focused on include shareholder basis, inflated expenses, false information reporting documents and inflated schedule A deductions.

Another focus area is high income/ high wealth taxpayers. The IRS will be using enterprise audits when looking at these taxpayers and may examine the individual return as well as the related activities including partnerships and S-Corporations that are on the taxpayer’s return.

Fink reminded us of the Voluntary Classification Settlement Program, which addresses the problem of employees that have been incorrectly

AICPA Tax Resources The AICPA has a number of resources available for use during tax season including talking points, print advertisements, social media and tax tweets and educational booklets. Visit the Career/Marketing Toolkit section of the AICPA website at www.aicpa.org classified as independent contractors.

There has been a lot of interest in this program and the IRS hopes that in return for the less exposure the taxpayer has coming in to the program that there will be an increase in compliance going forward.

Another area that Commissioner Shulman addressed is the IRS’ desire to move towards a “real time tax system.” Under a “real time tax system,” information returns would be loaded into the system quickly. This information would then be used in the filtering process of looking at a return on the front end to determine if the IRS should accept the return. Taxpayers would have the opportunity to resolve problems on the front end rather than facing an audit several years later. The advantages of this type system would be increased compliance, increased service to the taxpayer, decreased burden to the taxpayer, and issues resolved in a more timely manner. n

Charles M. Ayers, CPA, is manager with McDowell-Pearman, LLC in Columbia. He currently serves as chairman of SCACPA’s Taxation Committee and previously served on the Information Technology Committee.

AICPA National Tax Conference (888) 557-4814 | www.scacpa.org

South Carolina CPA Report

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Despite Effects of Estate Tax Relief, Trusts Remain an Attractive Planning Tool

by James C. Hardin III

THE FOLLOWING ARTICLE IS THE SECOND IN A TWOPART SERIES ON ESTATE TAX RELIEF AND TRUSTS.

N

otwithstanding the estate tax relief, Congress granted in the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” (the “Act”), described in the first installment of this article, it has been this writer's experience that trusts continue to be a popular device for many tax and nontax reasons. First, in light of the present federal deficit, clients are skeptical that the benefits of the $5 million applicable exclusion amount and portability will be continued beyond 2012. Secondly, divorces and subsequent remarriages remain very common in the United States, where one writer humorously called our patterns of marriage “serial polygamy.” When one or both members of the married couple have children by a prior marriage, clients in those situations are anxious to provide for their surviving spouse but equally determined to assure that upon the death of the surviving spouse, any remaining assets will pass to the children of the prior marriage. The best vehicle to accomplish these dual goals is the trust. Trusts are also an indispensable tool in addressing the needs of a client who has a handicapped child or one with other challenges. The implementation in that circumstance of a special needs trust,

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which is intended to provide the child with any benefits not otherwise afforded by public authorities, is essential.

Another important nontax reason for the utilization of trusts is the protection of the client's assets from the claims of creditors. South Carolina remains among the vast majority of states which do not provide a client protection from the client’s creditors just because the client establishes a trust for himself or herself, places his or her assets into it, but reserves the right to amend or revoke the trust or otherwise access the trust assets for his or her needs. While some states, including Alaska and Delaware, have enacted statutes purporting to afford creditor protection to clients who set up trusts for themselves, there is yet to be any precedent from the United States Supreme Court respecting whether such state laws would truly serve to protect a client's assets from creditors, particularly if the clients live in states which do not have these statutes.

Trusts may not serve to protect trust assets from the claims of the creditors of the client who establishes the trust.

However, what is unequivocally true, and now even more

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the deceased athlete’s family. To ensure this protection of trust assets from the claims of the creditors of the surviving spouse or children, it is essential that the trust include a provision to the effect that those creditors cannot reach the trust assets. This so-called “spendthrift” provision was rendered clearly available for the first time in South Carolina's history by the enactment of the South Carolina Trust Code effective January 1, 2006. If a client's trusts were drawn prior to that time, then a document review would be advisable to assure that spendthrift provisions are included.

Yet another nontax reason why trusts remain popular is the avoidance of probate costs and delays. Most readers are familiar with the fact that if the client establishes a revocable living trust during his or her lifetime and conveys all or most of his or her assets into it, then at the client's death the assets in the trust are said to “avoid probate” because they were not owned by the client himself or herself at death. Such revocable living trusts normally contain provisions not only for the benefit of the client during his or her lifetime, but also for the distribution of the client's assets after his or her death. South Carolina’s probate fee, with a top marginal rate of 0.25%, is not capped as it is in other states like North Carolina ($6,000). For example, if no trust is used and the probate estate is $20 million, the South Carolina probate fee would be $49,345. The reduction of this fee and other costs and delays associated with probate are relatively easily avoided through the use of the revocable living trust.

“On a state law level, the South Carolina General Assembly's passage of the South Carolina Trust Code effective January 1, 2006 has rendered trusts considerably easier to implement, amend and terminate.” so in South Carolina in light of the enactment of the South Carolina Trust Code, is the fact that once the client dies, trusts which he or she has created for passage after his or her death to his or her surviving spouse and children can be used to protect the trust assets from claims by the surviving spouse’s or the children’s creditors. So if the surviving spouse for whose benefit the deceased spouse had established a trust is at fault in an automobile accident resulting in the death of a highly paid professional athlete, where liability insurance limits can be greatly exceeded, the assets in the trust of the first spouse to die should be protected from the claim against the surviving spouse by

Also, one member of a married couple, or any other intended heir of your client, may lack investment acumen or have exorbitant spending habits. Often the advisor has to listen to the client with a “third ear” when the client seems to want a trust even where no other tax or non-tax reasons may exist for the use of a trust. Clients and their loved ones are often reluctant to tell you (especially in the presence of that loved one) that money management or spending issues exist.

Finally, charitably inclined clients with sizable assets often turn to the use of trusts to fulfill their philanthropic objectives. The Treasury has specifically endorsed several types of charitable split-interest trusts. One is the charitable remainder trust, where the client retains the right to a series of payments with ultimate passage of the assets to charity occurring at a specified future time such as the death of the client. A charitable gift annuity can be an attractive non-trust alternative to the charitable remainder trust. The second type of Treasury endorsed split-interest trust is the charitable lead trust, where charities receive specified payments at the beginning of the trust term, with the assets passing to the client’s descendents or others at the end of that term. The continued on page 38

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South Carolina CPA Report

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First Quarter Report

by Mark T. Hobbs, CPA SCACPA member since 1981

T

he Board of Accountancy meeting in December included a hearing of a licensee who had pleaded no contest to Breach of Trust and Obstruction of Justice in a another Court in South Carolina as well as several additional violations of the S.C. Practice Act. After hearing the case the board voted unanimously to permanently revoke the licensee license as a CPA and we also assessed a civil penalty of $10,000. This type of case should be a reminder to all licensees in South Carolina that these type offenses cannot be allowed by licensees of our profession. As a licensed accountant professional we must demonstrate a much higher degree of personal responsibility in the conduct of our business and personal affairs and not allow ourselves to be in compromising positions.

In addition to the hearing we heard from another licensee requesting waiver of the 20 hour self- study CPE limitation. The licensee provided no evidence for the exemption except for the additional expense associated with non-self-study CPE. The board voted unanimously that no credible evidence was presented by the licensee to obtain a waiver.

We also spent a large amount of time clarifying information that had been posted in the FAQs on the board’s website dealing with the classification of personal development CPE, the requirement of licensees to submit certificates for CPE in 2011, and the classification of webinars and webcasts for licensees. The conclusions of these debates resulted in the following major

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South Carolina CPA Report

South Carolina Board of Accountancy Mailing Address PO Box 11329 Columbia, SC 29211

decisions by your Licensing Board.

u

The NASBA guidance will be used to determine personal development classification. This guidance is currently available on the Board of Accountancy website and results in a much more strict interpretation as to personal development classes. The bottom line is that many classes that the FAQ implied was personal development is not personal development and really is specialized knowledge content which does not have the eight hour limitation per year.

v On the instance of CPE Certificates, we are going back to the way it was in that self-study CPE certificates should accompany your annual CPE form which were due to be remitted to the board by Jan. 31, 2012. Other proof of attendance should be retained by the licensee and be available for inspection by board staff upon request. One of the major problems with the 2011 CPE audit performed by the board was self-study CPE was not QAS approved CPE and therefore was not considered appropriate CPE to meet licensure requirements.

w We also discussed webinars vs.

webcasts and concluded with the following guidance from staff— if the session is internet based and the attendance is controlled or monitored and the participant can interact with the program then this CPE will generally be acceptable as regular (not selfstudy) CPE. In those instances where a licensee listens to a webcasts or other program with no controls or no interac-

Telephone: (803) 896-4770 Fax: (803) 896-4554

tion or testing then this type of CPE is not acceptable as self-study or regular CPE. This activity is being performed only for information to the licensee.

The board will be meeting the end of January and we hopefully will make progress on establishing a Peer Review Oversight Committee as well as commence an internal review of the activities of the staff at the board. Several Board members believe we may need to reevaluate our current allocation of staff resources. We will also be considering using a risk based approach on the selection of CPE audits for licensees for 2011 and thereafter. Also, we will be discussing the development of an annual report of the Board of Accountancy to summarize the investigations/ hearings as well as the financial activities of the board including the status of current open cases against licensees for the year 2011 to promote transparency of the activities of our board to licensees and the public, as well as our State Legislature.

Please be reminded that current licenses expire on Dec. 31, 2012 (no renewal this year); but CPE reports and 40 hours of acceptable CPE were due to the board’s office for the year 2011 by Jan. 31, 2012. n

Mark Hobbs, CPA, is the managing partner of The Hobbs Group, PA in Columbia. A past president of SCACPA, Mark currently serves on SCACPA’s Investment Committee as well as the Long Range Planning Task Force and the Women to Watch Awards Task Force.

He may be reached at mark@hobbscpa.com.

(888) 557-4814 | www.scacpa.org

Ethically Speaking Objectivity in Client Service

by Eddie Dutton, CPA SCACPA member since 1988

P

racticing public accounting in accordance with the Code of Professional Conduct can often be a difficult task. Not because of any interest in doing wrong or taking an easier path; but rather, because there are times when it is difficult to know what others will consider to be the appropriate action.

In addition to the concept of independence, the Code of Professional Conduct states “A member should maintain objectivity and be free of conflicts of interest in discharging professional responsibilities.” Just what does that mean?

According to the code, a conflict of interest is a relationship, interest, or other situation with a person, entity, product, or service that impairs a member’s objectivity, either in fact or appearance. This potential impairment of objectivity must be evaluated on several levels, with differing results based on those evaluations.

• If the CPA feels that a conflict exists, he/she must take action to remove the conflict or decline to perform the services.

• If the CPA feels he/she can be objective, the consideration is then whether others could view the circumstances as a conflict. If, in the CPA’s judgment, the circumstances would be considered by others to impair objectivity, the CPA should disclose the relevant information (subject to confidentiality standards) to the appropriate persons and consider a written acknowledgment and release of/consent to any conflicts.

• If unable to obtain the consents, the CPA should not provide the services.

Consider two common scenarios related to objectivity: 1. Bob Goodguy, CPA, has provided tax service to a married couple for five years. Now in the process of a divorce, both parties have asked Bob to consult with them on the financial aspects.

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“Remember, as CPAs we must maintain an objective state of mind in our client relationships, and make sure that others feel that we are free of conflicts of interest. “ 2. Jane Friend, CPA , received a personal gift from the chief financial officer of one of her audit clients.

Bob would be permitted to provide services to both under the Code with proper disclosure and consent from each spouse.

However, he should assess his ability to do so since advice to one spouse may adversely affect the other spouse. Bob may also want to seek advice from his professional liability carrier before agreeing to dual representation.

Jane could accept a gift from the CFO if it was “reasonable “ in the circumstances. Considerations would include 1) nature of the gift, 2) the occasion 3) the value of the gift, and 4) the history of other gifts. If the circumstances appeared to be an attempt to influence Jane’s decisions, Jane’s objectivity could be questioned (“in appearance”).

Remember, as CPAs we must maintain an objective state of mind in our client relationships, and make sure that others feel that we are free of conflicts of interest. Doing so will go a long way in protecting our relationships with our clients and in protecting our assets from legal claims. n

Eddie Dutton, CPA, is chief quality, compliance and risk officer for Cherry, Bekaert & Holland, LLP. Located in the firm’s Spartanburg office, Eddie serves as chairman of SCACPA’s Behavioral Standards Committee, is a member of the Technical Standards Committee and a past president of the Foothills Chapter.

South Carolina CPA Report

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A Look Back 2011 CPA Summit

T

he 2011 CPA Summit featured quality CPE, election of new officers, awards and a variety of networking opportunities. The two-day event, which was held in conjunction with the Tax & Technology Conferences, took place Nov. 3-4 in Columbia and drew almost 200 SCACPA members.

The 17 CPE credits included three tracks and and 27 sessions on topics including IFRS, Lease Accounting, Data Safeguards and Estate and Gift Tax. Attendees also had an opportunity to visit with exhibitors and sponsors in the newly-designed exhibit hall. Exhibitors included Future Scholar – South Carolina’s 529 College Savings Plan, BB&T Insurance Services, CAMICO, American Pensions, Southeastern Insurance Consultants, and WR Sequence, LLC. SCACPA’s Annual Business Meeting included committee reports, approval of the 2012 budget, election of board officers and directors-atlarge and the passing of the gavel from 2011 Board Chair Tim Baker to 2012 Chair Michael Putich.

Other summit highlights included the Awards Luncheon, Student Recognition Luncheon and the New CPA Oath Ceremony. n

In Your Words...

Great event! Enjoyed it very much and learned quite a bit.

Overall - event was quite impressive - speakers and presentations were top-shelf. Glad I was able to attend.

I liked the awards ceremony at lunch instead of evening as it didn't make the day exhausting.

Good selection of breakout sessions and length of time is good to not get bored with topic or speaker.

The exhibit hall was handled very well for this meeting. SCACPA did an EXCELLENT job of making sure attendees WANTED to be in the exhibit hall, and made the experience very enjoyable, with activities and drawings. Having exhibited at industry meetings several times, I feel certain your exhibitors appreciated this, and it was very enjoyable for me as an attendee as well.

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South Carolina CPA Report

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Your 2012 Board of Directors Michael R. Putich Robinson Grant Hilton Head Island Board Chair

Patrick P. Carey Jr. Carey & Company Hilton Head Island Sea Island Chapter Representative

J. Patrick (Pat) McDermott The Beach Company Charleston AICPA Elected Council Member

Sharon Mann General Information Systems Chapin Chair-elect

Zoe M. Davis Hubbard Davis CPAs, LLP Mount Pleasant Coastal Chapter Representative

James W. McIlrath Duncan, Farmer, Munden, McIlrath & Co. Myrtle Beach At Large Director

Malynda M. Grimsley The Hobbs Group, PA Columbia Vice Chair

Amanda (Mandy) Hallman CMAC Inc. d/b/a Logan’s Roadhouse Myrtle Beach Grand Strand Chapter Representative

Philip R. Snipes Ernst & Young, LLP Greenville Piedmont Chapter Representative

John Bratton Fennell Burroughs & Chapin Company, Inc. Myrtle Beach Secretary-treasurer

Suzanne Harnois Bernard N. Ackerman, CPA, PA Rock Hill At Large Director

Michael J. Targia Kirkland, Thomas, Watson & Dyches, LLC Columbia Central Chapter Representative

Tim Baker Blytheco Columbia Immediate Past Chair

Cheryl Lang Tindall Corporation Spartanburg Foothills Chapter Representative

Robert M. Tilton WebsterRogers LLP Florence At Large Director

William R. Barefoot WebsterRogers Florence Pee Dee Chapter Representative

Penny A. Lewis Penny A. Lewis, CPA Isle of Palms At Large Director

Beth T. Zamorski Todd, Bremer & Lawson, Inc. Rock Hill Catawba Chapter Representative

Charles E. (Eddie) Brown SwaimBrown, PA Spartanburg At Large Director

A.D. (Dave) Masters Derrick Stubbs and Stith, LLP Columbia At Large Director

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Insight.

South Carolina CPA Report

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South Carolina’s New CPAs

p The New CPA Oath Ceremony was held in conjunction with SCACPA’s CPA Summit. State Comptroller Richard Eckstrom administered the oath to 25 new CPAs. Nicole L. Aherron w Hamish Andrews Christopher Arthurs wh Joseph Ayers Stacey L. Barber Elissa B. Barnett Brian S. Barta w John B. Becza wh David J. Bethea Meghan R. Blevins Brian D. Bowen h Rachel Bowery J. Ralph Byington w Bryon G. Cantrell Richard C. Carter Charles A. Castle Richard A. Chandler Christina Chappell wh Susan J. Cribbs wh Nathan T. Crowe w Michael E. Dacus w Branden T. Daniels w Daryl L. Davies Blake J. Deane Allyson T. Dehart wh Julie Dickson Christina L. Disher w

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South Carolina CPA Report

James J. Dixon w April A. Filyaw w Fiore M. Foster Zlatin T. Gamishev Lee E. Gessner h Horace M. Goodwin wh Lindsay Gross w Marina Hanahan Brett B. Hancock h Paul W. Harms Jocelyn B. Henderson h Lisa D. Henry h Kyle E. Herbert wh Sarah G. Hill Richard O. Holley w Samuel W. Howle w Mario S. Inglese Nancy A. Inserra Mark H. Ishige Jared K. Jennings w David K. Kelley Bradley N. King Laurie G. Kline Amy E. Larkin wh James R. Lebednik w James R. Leeton Jeffrey G. Lewis h

Sarah Lutz Jayne D. Maas Jillian F. Marchant Daniel C. Martin w Alicia S. Mathers wh Christopher Mauney wh James D. McAllister w Jill D. McKay David A. McKinley Sean C. McKinney Terri McNaughton w Elena M. Miles wh Michael W. Mohr Travis Moran wh Elizabeth A. Morton Joshua T. Nexsen wh Amanda O. Odom Phillip A. Ollar Jetal V. Patel w Kari E. Patton-Motluck Whitney L. Pearce Dustin L. Pease w Alyson R. Phillips Jason M. Puchir Matthew B. Rector Algie H. Reynolds wh Juli C. Reynolds w

John M. Ridenhour wh Nicole S. Robinson w Christopher M. Royer Scott D. Russell w Franciesca C. Serem Melinda M. Sesera wh Linday T. Sherbert h Anna V. Spann wh Farrell E. Spignerw Jaime A. Stevens Thomas G. Talbott Kathy M. Todd William T. Tumblin Ralph D. Turner w Debra E. Walworth wh Cheryle S. Weal w William M. Wess Pamela B. Westbrook Jessica A. Whitson w David M. Williams Yigang Xu w w Member of SCACPA h Attended ceremony

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SCACPA Members Recognized for Achievements

S

in the Profession, Community

CACPA recognized six members for their achievements in the profession and their communities at the 2011 CPA Summit in Columbia.

"We are pleased to honor these CPAs for their outstanding achievements,” said SCACPA Chief Executive Officer Erin P. Hardwick, CAE. “Since 1957, the SCACPA award program has recognized professionals who exemplify the spirit of volunteerism and service. We applaud these honorees for their contributions to the profession and their community.

Bobby R. Creech, CPA, WebsterRogers LLP, Charleston, was honored with the Service to the Profession Award, which pays tribute to a member whose public service, professional conduct, time and effort have contributed significantly to the advancement of the profession of accounting. A SCACPA member for 23 years, Creech has served as president of the Board of Directors, the Professional Relations Task Force, the PAC Committee, the Behavioral Standards Committee, and the Information Technology Committee. He also served as chairman of SCACPA’s Public Relations Committee and a member of the South Carolina Board of Accountancy, the National Association of State Boards of Accountancy and the American Institute of Certified Public Accountants (AICPA).

Ins piration.

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Rebecca M. Lee, CPA, Sheheen Hancock & Godwin, LLP in Camden, received the 2011 President’s Award for significant contributions to the professional society for CPAs. Rebecca serves on numerous AICPA and state society committees including chairman of SCACPA’s CPE Committee.

She is a discussion leader for Loscalzo and teaches all staff level audit training programs as well as other accounting and auditing technical courses.

William A. Thiem, CPA, Thiem & McCutcheon, CPAs, PA, Charleston, was awarded the Young CPA Award. The award recognizes a young professional who displays exceptional leadership qualities in the community, the profession and SCACPA. A graduate of the University of Georgia and Charleston Southern University, Thiem is a member of SCACPA’s Young CPAs Leadership Cabinet, the Legislative and Advocacy Committee, Strategic Membership Task Force and Behavioral Standards Committee. He is also involved in The Birthday Presence Foundation, Smiles for a Lifetime and many other organizations in Charleston.

The Outstanding Educator of the Year Award was presented to Mary Ann Prater, CPA, of Clemson University for excellence in the classroom, motivating students and educational innovation. Prater began teaching at Clemson University in 1983 as a senior lecturer.

She is actively involved with the Blue Key National Honor Society, the Faculty Senate Committee on Professional Development and Evaluation and serves as an advisor for Accounting and Financial Management Professionals.

Kara S. Shealy, CPA, Milliken & Company, Spartanburg, was the recipient of the Outstanding CPA in Business and Industry Award. Shealy was recognized for her business achievements and contributions to the growth and enhancement of the profession and public service involvement. An active member of SCACPA’s Foothills Chapter, Shealy has implemented many improvements to processes while working at Milliken including new procedures for the tax department.

The 2011 Public Service Award was awarded to Dennis L. Wade, CPA, CIA, of The Jackson Companies in Myrtle Beach.

The award recognizes a member who has reached high achievement in public service and made significant contributions to their local community. As president and chief executive officer of the Jackson Companies, Wade devotes time to a broad array of local and statewide business, community and non-profit boards and committees including the University of South Carolina, Moore School of Business Partnership Foundation Board of Advisors, Coastal Carolina University, Wall School of Business Board of Visitors, the Myrtle Beach Area Chamber of Commerce and the SC Chamber of Commerce. n

South Carolina CPA Report

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Scholarships Awarded to 20 Accounting Majors S CACPA’s Educational Fund Trustees awarded $20,500 in scholarships to 20 accounting majors for the 2011-12 academic year.

The scholarship recipients and their parents were honored during the Student Recognition Luncheon at SCACPAs Annual Summit in Columbia.

“These scholarships are awarded to South Carolina residents who are rising juniors or seniors majoring in accounting, or master’s degree students at a South Carolina college or university,” said Angel Hamilton, CPA, and Chair of the Trustees. “To be eligible, they must possess a GPA of no less than 3.25 overall, with a GPA in accounting of no less than 3.5. The SCACPA Educational Fund is proud to be able to assist these students in their endeavors to secure a future in the accounting profession. We wish them all the very best.”

The SCACPA Educational Fund was started to promote the study of accounting as a profession and provide educational opportunities whereby worthy accounting students attending South Carolina colleges and universities are recognized. Recipients must apply annually and scholarships are not renewable. The SCACPA Educational Fund recognizes these recipients can and do play an active role in the profession’s future. Winners also receive a free one year student membership to the South Carolina Association of CPAs. n

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South Carolina CPA Report

“I believe that by pursuing a career in accounting, I will be well equipped to succeed in a multitude of future employment opportunities that may arise.

Accounting is where it all begins and ends for businesses; similarly, it is my dream to pursue a lifelong career in accounting,” said Garrett Copeland, winner of the Joe Jackson Memorial Scholarship, the oldest and most prestigious award SCACPA offers.

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Impact.

2011-12 Scholarship Recipients u Brigman, Holcomb, Weeks Scholarship – Bindi Desai, Greer, University of South Carolina-Upstate u Burch, Oxner, Seale Scholarship – Melissa Gibson Davis, Florence, Francis Marion University u Burkett, Burkett & Burkett, CPA, PA Scholarship – Terri Kristen Wilson, Lexington, University of South Carolina

u Central Chapter of SCACPA Graduate Student Scholarship – Megan Duffy, Columbia, University of South Carolina u Coastal Chapter of SCACPA Scholarship – Todd Thibodeau, Conway, Coastal Carolina University u Edgar Vaughn Scholarship – Dayvon Goddard, Simpsonville, Voorhees College

u C. C. McGregor Scholarship – Michael White, Greenwood, Lander University

u Joe Jackson Memorial Scholarship – Garrett Copeland, Fort Mill, Furman University

u Central Chapter of SCACPA Scholarship – Susan Marie Blake, Columbia, University of South Carolina

u Kaye Carter Scholarship – Everette Matthew Poston, Rock Hill, Winthrop University

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u Lollie B. Harper Scholarship – April C. Cook, Dalzell, SC State University u Past Presidents Scholarship – Brian John Ewalt, Rock Hill, Winthrop University u Piedmont Chapter of SCACPA Scholarship – Jack Patrick Murphy, Simpsonville, Wofford College u Ray Waters Scholarship – Amber Davis, Simpsonville, Clemson University u Robinson Grant & Co., PA Scholarship – Ariel Stewart, Blythewood, Clemson University

u Sea Island Chapter of SCACPA Scholarship – Amber Hollenbeck, Charleston, College of Charleston u SCACPA Scholarships – 1. 2011 SCACPA Graduate Student Scholarship – Lindsay Lesesne, Columbia, University of South Carolina 2. Emelia G. Howell, Fort Mill, Winthrop University u Sheheen Hancock & Godwin, LLP Scholarship – Justin Afton Rice, Rock Hill, Presbyterian College u WebsterRogers LLP Scholarship – Jonathan Wiggins, Lugoff, Francis Marion University

South Carolina CPA Report

27

SCACPA 2012 Committee & Task Force Chairs

T

hank you to all of our 2012 volunteers for giving your time and talent. Additional information on committees and task forces can be found on the SCACPA website.

Educational Fund Trustees

Purpose: To select candidates for scholarships awarded by the foundation Chair: Charles M. Redfern, CPA, Rock Hill Board Liaison: Pat Carey, Carey & Company, PA, Hilton Head Island Staff Liaison: Glenna Minor

Benefits Committee

Legislative & Advocacy Committee

Purpose: To identify the needs of current members and recommend ways to meet those needs through benefits and services Chairperson/ Board Liaison: James McIlrath, Duncan, Farmer, Munden, McIlrath & Co., Myrtle Beach Staff Liaison: Maureen Taylor

Purpose: To monitor legislation impacting the CPA profession and recommend legislative strategy and policy regarding such legislation Chairperson: Jason Sweatt, Ernst & Young, LLP, Greenville Board Liaison: Sharon Mann, General Information Services Inc., Chapin Staff Liaison: Erin Hardwick

Continuing Professional Education Committee

Purpose: To evaluate and develop programs to assist members in the acquisition of new skills and knowledge Political Action Committee Co-Chair: Rebecca Lee, Sheheen Hancock Purpose: To raise funds for PAC and make & Godwin, LLP, Camden contributions to political candidates Co-Chair: Christina Kelly, The Hobbs Group, Chairperson/Board Liaison: Pat McDermott, PA, Columbia The Beach Company, Charleston Board Liaison: Eddie Brown, SwaimBrown, Staff Liaison: Erin Hardwick PA, Spartanburg

Staff Liaison: Reva Brennan

COMMITTEES Audit Committee

Purpose: To administer the SCACPA audit and work with staff to implement internal controls Chairperson: Robert Tilton, WebsterRogers, LLP, Florence Board Liaison: Mike Targia, Kirkland, Thomas, Watson & Dyches, LLC, Columbia Staff Liaison: Karen Hancock

Purpose: To prepare SCACPA budget and provide general supervision of the association finances Chairperson: Malynda Grimsley, The Hobbs Group, PA, Columbia Board Liaison: Eddie Brown, SwaimBrown, PA., Spartanburg Staff Liaison: Erin Hardwick/ Karen Hancock

Awards Committee

Information Technology Committee

Purpose: To select annual SCACPA award recipients Chairperson: Rebecca Kerr, University of South Carolina, Moore School of Business, Columbia Board Liaison: Beth Zamorski, Todd, Bremer & Lawson, Inc., Rock Hill Staff Liaison: Emily Allen

Behavioral Standards Committee Purpose: To review ethical complaints and make recommendations to Board and appropriate authorities for action Chairperson: Eddie Dutton, Cherry Bekaert & Holland, LLP, Spartanburg Board Liaison: Dave Masters, Derrick Stubbs and Stith, LLP, Columbia Staff Liaison: Erin Hardwick

28

Finance Committee

South Carolina CPA Report

Purpose: To plan and implement the SCACPA technology plan Chairperson: Keith Vincent, Keith M. Vincent, CPA, Mount Pleasant Board Liaison: Tim Baker, Blytheco, LLC, Columbia Staff Liaison: Karen Hancock

Investments Committee

Purpose: To manage invested funds of SCACPA, including the Educational Foundation Chairperson: Valerie Rumbough, Baptist Foundation of South Carolina, Columbia Board Liaison: Bratton Fennell, Burroughs & Chapin Co., Inc., Myrtle Beach Staff Liaison: Karen Hancock

Membership Committee Purpose: To develop strategies to promote the profession, recruit and retain members, and recognize existing members Chairperson: William Jarrard, Jarrard, Nowell & Russell, LLC, Charleston Board Liaison: Malynda Grimsley, The Hobbs Group, PA, Columbia Staff Liaison: Maureen Taylor

Nominating Committee

Purpose: To nominate qualified members for association office Chairperson/Board Liaison: Pat McDermott, The Beach Company, Charleston Staff Liaison: Erin Hardwick

Peer Review Committee Purpose: To administer the AICPA peer review program and provide information on peer review through articles and presentations Chairperson: Thomas DeWitt, Robinson Grant & Company, PA, Hilton Head Island Board Liaison: Michael Putich, Robinson Grant & Company, PA, Hilton Head Island Staff Liaison: Glenna Minor/ Cathy Goldie

Taxation Committee Purpose: To plan and support the tax track at the CPA Summit, coordinate annual meeting with the Internal Revenue Service, and prepare the annual Legislative Tax Guide Chairperson: Charles Ayers, McDowellPearman, LLC, Columbia Board Liaison: William Barefoot, WebsterRogers, LLP, Florence Staff Liaison: Reva Brennan

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Technical Standards Committee Purpose: To review exposure drafts on technical standards and recommend action, and assist CPE committee in planning the annual A&A Conference Chairperson: Joe Beck, Jones Pounder & Associates, Charleston Board Liaison: Penny Lewis, Penny A. Lewis, CPA, PA, Isle of Palms Staff Liaison: April Cox

TASK FORCES

Accounting Careers/Academic Relations Task Force Purpose: To focus on student recruitment activities in order to attract the best and brightest to the accounting profession and to provide a communication link between accounting educators and practicing professionals Chairperson: Sherri Freudiger, Sherri L. Freudiger, CPA, PA, Myrtle Beach Board Liaison: Mandy Hallman, CMA, Inc., d/b/a Logan’s Roadhouse, Myrtle Beach Staff Liaison: Maureen Taylor

Business Valuation & Forensic and Litigation Services Task Force Purpose: To raise awareness about the importance and value of business valuation and forensic and litigation services and organize educational and networking programs about these services and opportunities Chairperson: Hennie Van Bulck, Van Bulck & Company, CPAs, Sumter Board Liaison: Suzanne Harnois, Bernard N. Ackerman, CPA, PA, Rock Hill Staff Liaison: Reva Brennan/ April Cox

Editorial Board Task Force

Purpose: To provide the leadership necessary to produce a quality newsletter that is informative and newsworthy for the association membership Chairperson: Charles Alvis, Winthrop University, Rock Hill Board Liaison: Tim Baker, Tim Baker, Blytheco, LLC, Columbia Staff Liaison: Maureen Taylor

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Financial Literacy Task Force Purpose: To plan financial literacy initiatives Chairperson: Ken Newhouse, Moore Beauston & Woodham, LLP, CPAs & Consultants, West Columbia Board Liaison: Zoe Davis, Hubbard Davis, CPAs, LLP Mount Pleasant Staff Liaison: Maureen Taylor

Human Capital Task Force

Purpose: To assist the Chief Executive Officer in retaining and recruiting qualified staff Chairperson: Sharon Mann, General Information Services Inc., Chapin Board Liaison: Robert Tilton, WebsterRogers LLP, Florence Staff Liaison: Erin Hardwick

Managing Partners Task Force Purpose: To seek input from 50 largest firms about what SCACPA can do for them Chairperson/Board Liaison: Dave Masters, Derrick Stubbs and Stith, LLP, Columbia Staff Liaison: Erin Hardwick/ Reva Brennan

Members in Business & Industry Task Force

Purpose: To plan and support the annual Industry Conference Chairperson: Stacy Daniel, Glasspro, Inc., Mount Pleasant Board Liaison: Cheryl Lang, Tindall Corporation, Spartanburg Staff Liaison: Reva Brennan

Personal Financial Planning Task Force Purpose: To plan and support the annual Personal Financial Planning Conference Chairperson: Marsha LePhew, Marsha G. LePhew, CPA, PC, Rock Hill Board Liaison: Penny Lewis, Penny A. Lewis, CPA, PA, Isle of Palms Staff Liaison: April Cox

Strategic Membership Task Force Purpose: To study and recommend how the chapters of SCACPA work with SCACPA to take us to the future, and deliver what brings the greatest benefit to our members Co-Chair: Pat Carey, Carey & Company, PA, Hilton Head Island Co-Chair: Sharon Mann, General Information Services Inc., Chapin Board Liaison: Phil Snipes Staff Liaison: Reva Brennan/ Erin Hardwick

Young CPAs Cabinet

Purpose: To increase membership and participation in the association by providing young CPAs with networking and leadership development opportunities; enhance the value of association membership for young members; inform the association leadership about issues important to its young members; and develop future leaders of the association, the profession and the community Chairperson: Ashley Thiem, Thiem & McCutcheon, Charleston Board Liaison: Malynda Grimsley, The Hobbs Group, PA, Columbia Staff Liaison: Emily Allen n

To learn more about SCACPA’s commitees and task forces visit CLICK www.scacpa.org and click on Member Activities, Commitees and Task Forces.

South Carolina CPA Report

29

2011 Fall Conferences

in Review

Compiled Reva Brennan, MPA, CAE, IOM Serving SCACPA since 2001 p 2011 Women in Leadership Conference

Industry Conference Oct. 13-14, Columbia

In its new spacious location, the Industry Conference focused on assisting CPAs in business and industry in buoying their success in the unstable economy. The conference offered sessions on the economy, South Carolina taxes, identity theft, health care reform, employee benefits, IFRS, and much more.

Over 180 attendees enjoyed the opportunity to network with each other and various exhibitors and sponsors such as American Automated Payroll, American Pensions, Blytheco, IMG, Inc. and Southeastern Insurance Consultants.

As a result of feedback from past conference attendees and current business and industry members, this highly successful event will be held in the spring of 2012. Look for a “save the date� in the near future.

Personal Financial Planning Governmental Bonus Workshop Conference Oct. 20, West Columbia

Nov. 15, Columbia

The goal of this conference was to help the 40 attendees manage their risks and the risks of their clients in financial planning. The conference featured speakers and topics such as Chris Jenkins from the Social Security Administration on Social Security; Franchelle Miller, JD from Sherrill and Roof, LLP on elder law; Ken Wingate, CPA on estate and gift tax, and more.

The Governmental Bonus Workshop led by Dennis Dycus was designed to give attendees real world examples pertaining to governmental audits.

Approximately 150 registrants attended sessions including Revised Yellow Book Standards, SAS No. 99, GASB No. 54, and more.

In Your Words...

Very nice conference, overall very relevant topics.

Overall I thought it was one of the best PFP conferences I have attended. Topics were ones that generated a lot of questions and speakers were good at gearing the presentation toward the areas of greatest interest to the group.

In Your Words...

I appreciated the real world examples.

Best Governmental CPE I have attended.

Probably one of the most enjoyable governmental workshops that I have attended.

Practical advice and kept my attention.

In Your Words...

Good location and good facility.

Overall, this is consistently the best CPE event that I attend.

This is always my favorite conference. Keep up the good work.

Event was well planned. Vendors seemed relatively pleased with traffic and exposure.

Raffles were successful in getting more traffic to vendor.

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South Carolina CPA Report

2011 Women in Leadership Conference Panel

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Women in Leadership Conference Nov. 17, Columbia

SCACPA held its second annual Women in Leadership Conference which is designed to raise awareness of both men and women regarding the gap in the progress of women in the accounting profession. We believe that a diverse profession is a sustainable profession.

This conference provides a venue for women to network with other professionals, and develops skills to assist them in growing personally and professionally.

During the conference lunch, four South Carolina women were honored by AICPA and SCACPA for their accomplishments in the CPA profession. Recognized in the Women to Watch Experienced Leaders category were Patricia

K. Biscopink, CPA, Elliott Davis, LLC, Greenville, and Mary Ann Prater, CPA, Clemson University. Amanda S. Colgate, CPA, Godshall & Colgate, LLC, Columbia, and Sherri L. Freudiger, CPA, Sherri L. Freudiger, CPA, PA, Myrtle Beach, were recognized as Emerging Leaders.

In Your Words...

Is this an annual event? I surely hope so. I can't wait until next year!

This is the first women's conference I have attended. I would definitely come back.

Accounting & Auditing Conference Dec. 8-9, Charleston

This conference was an ideal opportunity for the more than 250 attendees to keep abreast of the fast-paced changes in

accounting and auditing. The conference featured a panel on Private Company Financial Reporting Standards with panelists from FASB and AICPA, and other speakers and topics such as Michael Auerbach with the Department of Labor on benefit plan guidelines, employee fraud with Roy Strickland, accounts payable fraud with Rebecca Lee, and more.

In Your Words...

Very well organized and fantastic job by SCACPA staff.

All presenters were excellent and very knowledgeable of subject matter. This was an excellent and very rewarding conference.

Forensic topics were very good for both private and public participants.

Excellent event. Wonderful speakers. n

2011 Emerging Trends in Accounting: Corporate Sustainability Conference

C

ertified Public Accountants learned about the financial impact that sustainable practices can have on businesses of all sizes at SCACPA’s 2011 Emerging Trends in Accounting: Corporate Sustainability Conference.

The event was held Dec. 7 in Columbia and drew over 55 CPAs in tax, business tax, business & industry, private and public practice as well as several nonCPAs. Andrew Spicer, Ph.D. of the Moore School of Business at the University of South Carolina began the conference with a discussion of the economic and societal trends that are pushing corporations to initiate sustainability programs and examine the different strategic choices they face.

(888) 557-4814 | www.scacpa.org

Travis Bogan, CPA of Elliott Davis delved into the tax incentives available for increasing sustainability and improving energy efficiency for individuals and businesses. Meanwhile, Curtis Walker of GDC Total Business described how “Lean Accounting” focuses on eliminating waste to “create” cash, not just cutting costs to “save” cash.

differences in global versus domestic marketplace activity.

The afternoon featured two concurrent sessions — The Public Practice Firm and Corporate Sustainability with Kartherine Blue of KPMG and Small Business Boot Camp with John Meindl of Furman University.

The conference wrapped up with a session outlining Sonoco’s internal organizational structure related to their sustainability strategy, led by Roger Schrum of Sonoco. Meindl also offered a review of the four-quadrant approach Furman University utilizes to help businesses understand, define, target, benchmark, measure, innovate, market and engage employees in sustainability. n

Blue’s session included a glimpse into a public practice firm’s decision to enter the corporate sustainability practice area, the types of services provided, client demands, supply chain issues and

The Small Business Boot Camp featured a small-to-medium size business process wherein business, through an online assessment, are provided recommendations to conserve and manage their energy, water and waste management.

South Carolina CPA Report

31

F ocus O n Me m be r s hip MEMBER NEWS

Debra A. Turner, CPA, succeeded V. Carroll Webster, CPA as Webster Rogers’ managing partner effective Jan. 1. Webster will remain with the firm in a consulting capacity.

Meagan Kuhlman, CPA, has joined SouthCon Building Group, LLC in Mount Pleasant as an accounting manager.

David M. Herpel, CPA, has joined the Columbia office of McGregor & Company, LLP, as a senior staff accountant.

Ryan Lebednik, CPA, has joined the Orangeburg office of McGregor & Company, LLP, as a staff accountant.

Ann Marie Kenney, CPA, has joined the Columbia office of McGregor & Company, LLP as assistant manager of business services.

Sandra Rabon, CPA, has been named senior vice president and chief financial officer of Greenbax Enterprises, Inc. (parent company of Piggly Wiggly Holdings, LLC and Piggly Wiggly Carolina Co., Inc.)

FIRM NEWS

SuggsJohnson, LLC and Elliott Davis, LLC jointly announced the sale of Elliott Davis’ Anderson office to SuggsJohnson, effective Dec. 1, 2011. The shareholders of Elliott Davis, one of the largest accounting, tax and consulting services firms in the Southeast, voted to approve the sale in October. SuggsJohnson is a CPA and business consulting firm based in Anderson. As part of the transaction, all members of the Anderson office of Elliott Davis will join the SuggsJohnson team.

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South Carolina CPA Report

Elliott Davis, LLC, one of the largest accounting, tax and consulting services firms in the Southeast, scored first in four categories on Vault.com’s Accounting Quality of Life Rankings for 2012. The firm had more number one rankings than any other accounting firm on the 2012 list. A source of ratings and insights for students and professionals, Vault.com annually releases rankings of the top accounting firms in the United States. Elliott Davis led in the categories of manager relations, formal training, informal training and office space.

IN THE NEWS

Rebecca Lee, CPA, Sheheen Hancock & Godwin, LLP, Camden, has been awarded the AICPA’s inaugural Sustained Contribution Award. Lee is one of 51 CPAs selected to receive the award, which recognizes members of the Institute who have contributed measurably to the AICPA and the CPA profession through their volunteer service.

Rick Davis, CPA, managing shareholder of Elliott Davis, was named Greenville Business Magazine / Clemson at the Falls Business Person of the Year. Davis was honored at a black tie event on Nov. 5 in Greenville.

CONDOLENCES

Anthony (Tone) Fuller Trask, age 57, died Dec. 12, 2011. Born May 31, 1954 in Charleston, he earned a Bachelor of Science in Financial Management in 1975 from Clemson University. After earning his Juris Doctorate from the University of South Carolina School of Law in 1978 he began practicing law with the Beaufort law firm of Levin, Sams & Davis, PA later becoming a

partner in the firm. In 1988 he served his CPA apprenticeship in the Beaufort accounting firm of Robinson Grant & Co. Tone moved to Myrtle Beach, in 1989 to begin practicing accounting and law with Bates, Buie, Lindsay, Evans, & Rabon, CPA / Lindsey and Trask. He was a founding partner of Bates, Leonard & Trask, CPA., which later became Leonard and Trask CPA. A SCACPA member since 1987, Tone maintained a private law/accounting practice until his passing.

Roger Richard Duncan, 55, of Pickens, died Dec. 15, 2011. Born in Jersey City, N.J., Roger retired from the U.S. Army after 20 years of service. He received a degree in accounting from Lander University and was a partner of Bradshaw, Gordon and Clinkscales, LLC. He was a SCACPA member since 1995.

Norris Randolph “Randy” Scott, 54, died Jan. 7, 2012. Born Feb. 1, 1957 in Wilmington, N.C. he graduated from the University of South Carolina. He was employed with Price Waterhouse, Standard Federal Savings and Loan, Coopers Lybrand and was most recently employed as managing partner of Scott and Company, L.L.P. A SCACPA member since 1992, Randy served on the Managing Partners Task Force. He was a member of AICPA, N.C. Association of CPAs, and was certified in the states of South Carolina, Georgia, North Carolina, Texas, and Wisconsin.

SHARE YOUR NEWS Send member news announcements to Maureen Taylor at mtaylor@scacpa.org.

Deadline for the Second Edition issue is March 23, 2012.

(888) 557-4814 | www.scacpa.org

F ocus O n Me m be r s hip New Lifetime Members for 2012

Welcome New Members

SCACPA is pleased to recognize the following individuals for their dedication and service to the CPA profession. Lifetime members are given complimentary SCACPA membership dues upon 30 years of membership and age of 68 or older.

Associate

Erin Ciechowski, CFE Fort Mill, SC

Ashley E. Tate Boiling Springs, SC

David B. Mulholland, CPA Columbia, SC

Fellow Member

Jenny Secker, CPA Myrtle Beach, SC

Judy P. Alexander, CPA Greenville, SC

Glenn D. Gibbons, CPA North Charleston, SC

William A. Moody Jr., CPA Charleston, SC

Sandra H. McClure, CPA Charleston, SC

Donna F. Anderson, CPA Anderson, SC

William Gordon, CPA Greer, SC

Robert C. Moorhead, CPA Gaffney, SC

R. Brian Stephenson, CPA Mount Pleasant, SC

J. Roland Avinger Jr., CPA Orangeburg, SC

Richard A. Grant, CPA Greenville, SC

Woodrow W. Nunnery, CPA Columbia, SC

Affiliate

S. C. Beckwith, CPA, CFP Greenville, SC

Carolyn Halfacre Clemson, SC

Larry D. Phillips, CPA North Myrtle Beach, SC

Richard D. Biddlecomb, CPA Moncks Corner, SC

Davy C. Hammatt, CPA Clemson, SC

William L. Rawl Jr., CPA Lexington, SC

Clifton D. Bodiford, CPA Columbia, SC

Gary A. Harris, CPA Easley, SC

Julian H. Roberts Jr., CPA, PFS Mount Pleasant, SC

Louis W. Buck, CPA North Las Vegas, NV

Leonard A. Hoogenboom, CPA Gerald E. Saunders, CPA Florence, SC Simpsonville, SC

John N. Campbell Jr., CPA Greenville, SC

Daniel D. Hook, CPA Taylors, SC

H. McRoy Skipper Jr., CPA Georgetown, SC

Elnora S. Cannon, CPA Pickens, SC

Richard F. Jackson, CPA Greenwood, SC

Carolyn D. Smith, CPA Summerville, SC

Converse A. Chellis III, CPA Summerville, SC

Harold W. Jones, CPA Charleston, SC

H. B. Smith, CPA Cowpens, SC

Rayford D. Cole, CPA Hodges, SC

Robert P. Jordan, CPA Darlington, SC

James B. Snoddy, CPA Greenville, SC

James M. Cudd, CPA Gaffney, SC

James R. King, CPA, ABV, CVA, CFE Sumter, SC

Fred E. Stuart Chapin, SC

Edward H. Daniell, CPA Charleston, SC William A. Danner, CPA, MBA Columbia, SC James K. Davis, CPA Lancaster, SC Willie F. Dial Jr., CPA Lexington, SC James M. Donnelly, CPA Lake City, SC Edward F. Frederick Charleston, SC John G. Game, CPA Charleston, SC

Douglas D. Kugley, CPA Charleston, SC William M. Lewis, CPA North Myrtle Beach, SC Charles D. Lindley, CPA, PFS Anderson, SC Carroll W. Lindsey, CPA Greenville, SC A. Joseph McCall Jr., CPA Seneca, SC John R. McDade, CPA Fort Mill, SC Sheila C. McKinney, CPA Greenville, SC

(888) 557-4814 | www.scacpa.org

John C. Von Lehe Jr., CPA, J.D. Charleston, SC Marvin S. Weaver III, CPA Bennettsville, SC Victor C. Webster, CPA, MBA Florence, SC Irvine T. Welling III, CPA Greenville, SC David L. Whitehead, CPA Holly Hill, SC James W. Worthy, CPA Spartanburg, SC

** As of December 28, 2011

Brian S. Barta, CPA Duncan, SC

Matthew Becker, CPA Greenville, SC

Brook C. Martin Georgetown, SC

Deena S. Bishop, CPA Chapin, SC

CPA Candidate

Hans T. Blake, CPA Mauldin, SC

Kristin M. Atkinson Bluffton, SC

Elizabeth A. Chapman Greenville, SC Courtney Crandell Greenville, SC Leroy J. Dixon III Townville, SC Lindsey N. Fisher Greenville, SC Pawel Glab Columbia, SC William Howland Kiawah Island, SC Romissa Z. Hunt Greenville, SC Edward Kersting Central, SC Kirsten E. Mauney Columbia, SC Crystal Rogers Bishopville, SC Kyle E. Sikkila Spartanburg, SC Alyson R. Smith Greenville, SC Morgan E. Smith Charleston, SC Corey Swaim Simpsonville, SC

Melinda M. Sesera, CPA Greenville, SC Debra H. Seymour, CPA Lexington, SC Krista P. Snow, CPA Columbia, SC Yigang Mark Xu, CPA Travelers Rest, SC

Kayce M. Brock, CPA Hartsville, SC James R. Byington, CPA, Ph.D. Myrtle Beach, SC Edward E. Conroy, CPA Columbia, SC Susan J. Cribbs, CPA Greenwood, SC Michael E. Dacus, CPA Mount Pleasant, SC Erica Dawgert, CPA Spartanburg, SC Christina Disher, CPA Greenville, SC James J. Dixon, CPA Mount Pleasant, SC Carolina Floyd, CPA Taylors, SC Wayne E. Fussaro, CPA Surfside Beach, SC Kenneth B. Herron, CPA Greer, SC Larry A. Jones, CPA Bluffton, SC Jeffrey M. Kowalk Jr., CPA Greenville, SC Kadi H. Meldrum, CPA Aiken, SC Wenda Mistak, CPA Summerville, SC

Fellow Government Perry L. Stalvey Myrtle Beach, SC

Firm Admin Angie Oswald Lancaster, SC

Ginger A. Weldon Myrtle Beach, SC

Leave of Absence/ Unemployed Judy Pittman, CPA Six Mile, SC

Student Luis A. Castrat Conway, SC

Tanisha M. Glover Elgin, SC Stephanie L. McCartney Mount Pleasant, SC Hang T. Nguyen Myrtle Beach, SC Olivia Ray Barnwell, SC Alice L. Williams Goose Creek, SC South Carolina CPA Report

33

Chapter Co n ne c tions CALENDAR OF EVENTS

2012 CHAPTER LEADERSHIP

CATAWBA

In the interest of space, following is an abbreviated listing of chapter officers. Visit scacpa.org/chapters for a complete list.

Dues: $60, includes discounted registration to CPE seminars and free family/networking event • May: A&A Update (8 hours)* • Summer: Social • Fall: Professional Issues Update (4 hours)

CENTRAL

Dues: $50, includes discounted registration to CPE seminars, free Oyster Roast, Family Day and Business Meeting Dinner; invitation to Entertainment Night • February 24: Entertainment Night • May: Annual Barbeque at the Zoo • June: CPE (8 hours)* • Fall: Professional Issues Update (4 hours)

COASTAL

Dues: $130, includes free registration to CPE seminars (additional registration fee for Tax Update) and free registration to family/ networking event • Spring: Student Night at College of Charleston Meet, greet and network with Accounting Students • May: CPE (8 hours) • Fall: Professional Issues Update (4 hours)

*SCACPA event co-sponsored

by chapter.

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South Carolina CPA Report

FOOTHILLS

Dues: $40, includes discounted registration to CPE seminars and three free social/networking events • April: After Tax Season Social/Student Night • May: A&A Update (8 hours)* • Fall: Professional Issues Update (4 hours)

GRAND STRAND

Dues: $125, includes free registration to CPE seminars; Holiday Party and Student Recruitment Fair • May: CPE (8 hours)* • Fall: Professional Issues Update (4 hours)

PEE DEE

Dues: $50, includes discounted registration to CPE and free social events • March: Mid Tax Season Breather • May: A&A Update (8 hours)* • Fall: Professional Issues Update (4 hours)

PIEDMONT

Dues: $50, includes registration for CPE at a nominal fee and free holiday luncheon • April: Monthly Networking & Luncheon • May: A&A Update (8 hours) • June: Monthly Networking & Luncheon • Fall: Professional Issues Update (4 hours)

SEA ISLAND

Dues: $135, includes free registration to CPE seminars and two special events, Tax Breather Social and Professionals’ Night • March: Tax Breather • May: A&A Update (8 hours)* • Fall: Professional Issues Update (4 hours)

CATAWBA President – Amy Rubin, Charles M. Redfern, CPA, Rock Hill Vice President – William L. Faris, Engine Power Source, Inc., Charlotte, NC Secretary/Treasurer – Glenn E. Savage, Winthrop University Administration, Rock Hill CENTRAL President – Matthew Hodges, Burkett Burkett and Burkett, PA Vice President – Russell Quattlebaum, J. W. Hunt and Company, LLP Secretary/Treasurer – Will Stevens, The Hobbs Group, PA CPE Coordinator – Christopher Hinchee, McGregor and Company, LLP COASTAL President – E. W. Sanders, American Pensions Vice President – Jim Hudson, Hudson & Associates, CPA, LLC Secretary – Crystal McGuire, LS3P Treasurer – Frances Y. Moseley, Isle of Palms Red and White FOOTHILLS President – Cheryl Lang, Tindall Corporation Vice President – Chris Holtzclaw, PricewaterhouseCoopers, LLP Secretary - Christina Braswell, PricewaterhouseCoopers, LLP Treasurer - Kara S. Shealy, Milliken & Company GRAND STRAND President – Leigh Ann Marks Vice President – J. Burt Huggins, Smith, Sapp, Bookout, Crumpler & Calliham, PA Secretary/Treasurer – Sharon Proctor, Smith, Sapp, Bookout, Crumpler & Calliham, PA PEE DEE President – Nancy Waring, Waring & Associates, CPAs, PA Vice President – Joseph Griffin, WebsterRogers, LLP Secretary/Treasurer – Lawrence “Teddy” Kennedy, Jr., McCall Farms PIEDMONT President – Art Tompkins, Upstate Financial Accounting Services Vice President – Brad Ledford, Staffing Partners, LLC Secretary – Teresa Smith, Terry Smith, CPA Treasurer - Jimmy Tenpas – Dixon Hughes PLLC SEA ISLAND President – Anne Reed, Carey & Company, PA Vice President – Raymond Williams, Crowley Wechsler & Associates, LLC Secretary – Christopher Linkimer, Carecore National, LLC Treasurer – Amy Graybill, Robinson Grant Company, LLP

(888) 557-4814 | www.scacpa.org

2012-2013 CPE Schedule (as of 01/23/2012, subject to change)

T

he South Carolina Association of CPAs is your full-service, onestop shop for quality CPE. With SCACPA you will find CPE options that are designed to fit your knowledge, budget, schedule and preferred method of learning. And be sure to stay up-to-date on our lastest course listing at www. scacpa.org/coursecatalog. More new programs appear all the time!

APRIL 2012 4/23

Only Financial Officer: Skills for Smaller Company Financial Managers – West Columbia

4/24

Lean Accounting: Apply Lean Thinking to Financial Management – West Columbia

4/24

Creating the Best Projections You Can: Insight and Techniques – West Columbia

MAY 2012 5/2

CPA Day at the State House – Columbia

5/8

Upcoming Peer Review: Is Your Firm Ready – West Columbia

5/16

Business Fraud Update – Satellite/Webcast

5/17-18 Mega Conference

(Government, Non-Profit, and

Benefit Plans) – Columbia 5/21-22 CPAs in Business & Industry

Conference – Columbia

5/31

JUNE 2012 6/1

Not for Profit Industry Update and Major Accounting and Disclosure Issues – West Columbia

6/6

Audits of Defined Contribution Pension Plans – West Columbia

6/7

Loscalzo’s Current Practice Issues and Solutions in Audits of Employee Benefit Plans – West Columbia

6/11

6/12

Using the iPad as a Business Tool – West Columbia

6/20

Guide to Tax Planning for Debt Cancellation, Restructuring, and in Bankruptcy – Satellite/Webcast

6/21

6/22

10 Steps to a Digital Practice – West Columbia

GAAP Refresher – West Columbia Compilation & Review Essentials – West Columbia

JULY 2012 7/10

Small Business Accounting and Auditing Update – West Columbia Variable Interest Entity Consolidation Rules: Not Just a Big Company Issue – West Columbia Loscalzo's 2012 FASB and AICPA Update – Hilton Head

5/24

Excel for Advanced Users – Greenville

7/11

5/25

QuickBooks 2012 Inventory & Job Costing – Greenville

7/16

(888) 557-4814 | www.scacpa.org

Frequently Missed Issues for OMB Circular A-133 Audits – West Columbia

7/16

Strategies and Tactics in the New War Against Higher Individual Taxes – Hilton Head

7/17

Loscalzo's Accounts Payable Fraud: Overlooked Schemes and How to Detect and Prevent Them – Hilton Head

7/17

The Top 50 Business Tax Mistakes Practitioners Make and How to Fix Them – Hilton Head

7/18

Loscalzo's Hands on Guide to Understanding and Testing Internal Controls – Hilton Head

7/18

Surgent McCoy's Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs and Partnerships – Hilton Head

7/25

Governmental Accounting & Auditing Update – Satellite/ Webcast

7/30

Choosing the Best Entity Structure Under the Tax Law in 2012 – West Columbia

7/31

Reading, Understanding, and Structuring LLC and Partnership Agreements from a CPA's Perspective – West Columbia

South Carolina CPA Report

35

AUGUST 2012 8/13

Annual Update for Accountants – Charleston

8/13

Best Federal Tax Update – Charleston

8/14

Forensics and Financial Fraud: Real World Issues & Answers – Charleston

8/14

The Best Income Tax, Estate Tax, and Financial Planning Ideas of 2012 – Charleston

8/15

Advanced Update for Compilation Review and Accounting Services – Charleston

8/15

Hottest IRS Tax Examination Issues – Charleston

8/16-17 Emerging Leaders Conference

– Columbia

36

8/24

Social Security, Medicare, and Prescription Drug Retirement Benefits: What Every Baby Boomer Needs to Know– Greenville

8/29

Compilation and Review Update: Advanced Issues – Satellite/Webcast

SEPTEMBER 2012 9/12

Accouting & Auditing Update – Satellite/Webcast

9/18

Upcoming Peer Review: Is Your Firm Ready – West Columbia

9/19

Financial Reporting: Turn Information into Action – Greenville

9/19

Estate and Life Planning Issues for Middle-Income Client – Greenville

8/20

Real-World Fraud: War Stories from the Front Lines – West Columbia

9/20

Metrics Management: Choose and Use Key Performance Indicators – Greenville

8/21

Internal Controls Design, Evaluation, and Communication for Smaller Entities – West Columbia

9/20

The Best Federal Tax Update Course by Surgent McCoy – Greenville

8/22

QuickBooks Advanced Features, Tools, Techniques – Charleston

9/21

8/23

Technology for CPAs, Don't Get Left Behind – Charleston

8/23

Determining How Much Money You Need to Retire, and Tax Ideas and Money Management in Retirement – Greenville

9/21

South Carolina CPA Report

I See It! Bringing Into Focus the New Clarified Auditing Standards – West Columbia

10/18

Women in Leadership Conference – Columbia

10/22 Tax Planning Based on Form

1040 – Greenville 10/23

Personal Financial Planning Conference – West Columbia

10/23

The Complete Guide to Preparing Forms 706 and 709– Greenville

10/24

Not-for-Profit Accounting, Auditing & Tax Update – Satellite/Webcast

10/24

Loscalzo’s Tax, Cash and Modified Cash Basis Financial Statements and Other Alternatives to GAAP – West Columbia

NOVEMBER 2012 11/1-2 CPA Summit & Member

Meeting – Columbia 11/5

Hottest IRS Tax Examination Issues– West Columbia

Performance Analysis: Identify Profit Improvement Opportunities – Greenville

11/6

Effectively and and Efficiently Reviewing Tax Returns in Busy Season – West Columbia

Surgent McCoy's 2012 Annual Tax Planning Guide for S Corporations, Partnerships, and LLCs – Greenville

11/8

Running a Nonprofit Like a For Profit Business – West Columbia

11/9

Nonprofit Accounting and Auditing Update – West Columbia

11/12

Not For Profit Made Easy – West Columbia

OCTOBER 2012 10/16

10/17

A Complete Guide to the New 2011 Yellow Book – West Columbia

(888) 557-4814 | www.scacpa.org

2012-2013 CPE Schedule (as of 01/23/2012, subject to change)

11/13

Governmental Workshop – Columbia

12/5

11/14

Strategic Planning: A Simplified and Workable Approach for Private Companies – Greenville

12/6-7 Accounting & Auditing

Conference – Charleston

11/15

Accounting for Business Combinations and Consolidation of Noncontrolling Interests – Greenville

11/19

The Best Income Tax, Estate Tax, and Financial-Planning Ideas of 2012 – West Columbia

11/20

Make Money for Your Clients: Surgent McCoy's Top Business Tax Planning Strategies – West Columbia

11/26

Effective Tax Strategies - The Benefits and Hurdles – West Columbia

11/27

Family Wealth Management – West Columbia

11/28

12/10

12/10

2012 Annual Business Tax Update – West Columbia

Chief Financial Officer: Executive Level Skills for Financial Managers – West Columbia Federal Tax Update with Walter Nunnallee – Charleston

12/11

Corporate Accounting: Hone Your Skills – West Columbia

12/12

Annual Tax Update – Satellite/ Webcast

12/12

Loscalzo’s 2012 FASB & AICPA Update – West Columbia

12/13

Federal Tax Update with Walter Nunnallee – Greenville

12/13

Loscalzo’s Auditing Manual Utilizing the Risk Based Audit Standards – West Columbia

Estate Planning Tax Forms Workshop – Satellite/Webcast

12/14

Federal Tax Update with Walter Nunnallee – Columbia

11/29

2012 Accounting & Tax Technology Update – West Columbia

12/17

Federal Tax Update with Walter Nunnallee – Florence

11/30

Excel Boot Camp – Top 10 Features Every CPA Should Know – West Columbia

12/17

Federal Tax Update with Walter Nunnallee – Webcast

12/17

Disclosure - The Key to Financial Statements – West Columbia

DECEMBER 2012

12/3

The Complete Guide to Payroll Taxes and 1099 Issues – West Columbia

12/18

Form 990: Moving Beyond the Basics – West Columbia

12/4

2012 Annual Individual Tax Update – West Columbia

12/19

Advanced OMB A-133 Issues – West Columbia

(888) 557-4814 | www.scacpa.org

12/20

Governmental Accounting & Reporting: Putting It All Together – West Columbia

12/21

Surgent McCoy’s Advanced Critical Tax Issues for Limited Liability Companies and Partnerships – West Columbia

12/27

Last Chance CPE Frenzy – West Columbia

12/28

Last Chance CPE Frenzy – West Columbia

JANUARY 2013 1/8

1/9

1/7

1/8

1/9-10

1/15

1/16

Closely Held Business Taxation: Smart Stratigies to Slash Taxes – West Columbia Small Business Entity Tax Forms Workshop – Satellite/ Webcast The Complete Guide to the Preparation of Form 1041 – Greenville The Complete Guide to the Preparation of Form 1041 – West Columbia AICPA's 1040 Tax Return Workshop by Sid Kess – West Columbia The Complete Guide to Preparing Limited Liability Company, Partnership, and S Corporation Federal Income Tax Returns – West Columbia Preparing Individual Tax Returns or New Staff & Para- Professionals – West Columbia

Visit www.scacpa.org for an up to date schedule.

South Carolina CPA Report

37

Despite Effects of Estate Tax

ADVERTISER INDEX

continued from page 18

Treasury has issued “safe harbor” forms for these trusts and many attorneys followed these forms in drafting such documents for their clients.

On a state law level, the South Carolina General Assembly's passage of the South Carolina Trust Code effective January 1, 2006 has rendered trusts considerably easier to implement, amend and terminate.

The South Carolina Trust Code, like that in North Carolina, is based upon the Uniform Trust Code which has now been enacted in twenty-three (23) states plus the District of Columbia and introduced in three (3) more states. The major innovations which the Trust Code brought to South Carolina include, in addition to the use of the spendthrift provision described above, a mechanism for amending or terminating an irrevocable trust either during the lifetime of the trust creator or thereafter. Further, irrevocable trusts of this type can be reformed or changed by the Courts in order to address tax law changes, react to any other substantial change in circumstances, or to correct an error in drafting. The Trust Code also provides a number of rules concerning trustee appointment and succession which will apply even if the trust document does not contain specific provisions on these subjects. Thus trusts

can be shorter and easier for clients to understand.

In summary, while the Congress has granted unprecedented estate tax relief, tax reasons still exist for the implementation of trusts in modern estate planning. Even if such tax reasons did not exist, the frequency of second marriages with the desire to protect children of a first marriage, the desire to protect the trust assets from the claims of beneficiaries’ creditors, and the protection of impecunious beneficiaries continue to commend trusts as a popular tool in the estate planner's arsenal. n

James C. Hardin III has practiced law in the field of estate planning, probate and trust for over 37 years. He is licensed in both South Carolina and North Carolina and is a certified specialist in estate planning and probate law in both states.

He maintains his principal office in Rock Hill with a satellite office in Charlotte, where for 20 years he practiced with Charlotte’s largest law firm, Kennedy Covington Lobdell and Hickman. He is a fellow and past state chair of the American College of Trust and Estate Counsel. He has been listed under estate planning in the Woodward and White publication, “The Best Lawyers in America" for 25 straight years. He is a coauthor with Professor S. Alan Medlin of the U.S.C. Law School of the book, “The South Carolina Trust Code.” Mr. Hardin is a graduate of the Duke University School of Law.

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South Carolina CPA Report

(888) 557-4814 | www.scacpa.org

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