VOL 4 · OCTOBER 2021
THE
JOURNAL ENTRY THE UTAH ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS
CPA EVOLUTION AND NEW CURRICULUM FOR STUDENTS
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UtahStateMBA.com
CONTENTS CEO's Message.................................................................................................... 4
OCTOBER 2021 Utah Association of Certified Public Accountants 136 S. Main Street, Suite 510 Salt Lake City, UT 84101 801-466-8022 mail@uacpa.org www.uacpa.org Managing Editor Amy Spencer as@uacpa.org 2021 – 2022 UACPA Executive Board President: Stacy Weight, CPA President-Elect: Ray Langhaim, CPA Vice President: Dustin Wood, CPA Treasurer: Aubrey Bickmore-Neeley, CPA Secretary: Tad Tuttle, CPA Member-at-Large: Katrina Baird, CPA Member-at-Large: Chris Skousen, CPA Emerging Professionals: Eric Greene, CPA Immediate Past President: Jay Niederhauser, CPA AICPA Council: Paul Skeen, CPA CEO: Susan Speirs, CPA UACPA Staff CEO: Susan Speirs, CPA CPE Director: April Deneault Communications & Marketing Director: Amy Spencer Financial Director: Tom Horn, CPA Membership Director: Lisa Ostrander Cover Image: Chris Wood UACPA Statement of Policy The Journal Entry is published four times a year by the Utah Association of Certified Public Accountants (UACPA). The opinions, views and articles expressed in this magazine are those of the authors and not necessarily those of the UACPA. This magazine should not be deemed an endorsement by the UACPA or its committees or editorial staff of any views, opinions or positions contained herein. Copyright © 2021 Utah Association of Certified Public Accountants
President’s Message........................................................................................... 5
Cover + Articles Feature: Approaching Curriculum for Future CPAs...................................... 7 Feature: Core Competencies for CPAs..........................................................10 Feature: CPA Evolution ....................................................................................12 By the Numbers: CPAs, Accountants and University Enrollment............. 15 Challenging the Utah State Tax Commission .............................................16
Membership 2021 UACPA Awards Winners........................................................................21 New CPAs Recognized at the 2021 Gala......................................................25 Photos: Centennial Celebration, Awards and Inauguration....................... 26 New Members....................................................................................................28 Members in the News......................................................................................29 In Memoriam......................................................................................................29 Photos: Money Camp.......................................................................................30 Photos: Golf Tournament.................................................................................31 Meet the Board..................................................................................................32 UACPA Staff Chat..............................................................................................33 Board Brief..........................................................................................................33 Meet a Member: Michael Lewis, CPA............................................................35
CPE Tech Talks/Technology Conference..............................................................36 UACPA Virtual Courses....................................................................................37 Comic: Generally Excepted..............................................................................38 Classifieds...........................................................................................................39 100% Firms.........................................................................................................39
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CEO’S MESSAGE SUSAN SPEIRS, CPA
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ver the past several years, we’ve heard the terms “CPA Evolution” and “CPA Pipeline” tossed around in discussions regarding the future of the profession. Plus, we continue to see technological changes that require substantial changes in competencies and skill sets. In 2017, the AICPA and NASBA partnered to examine CPA licensure and determine whether there were opportunities to improve the certification process and address the challenges facing the profession. As technology continues to integrate into everything we do, many perspectives hold that technology needs to be integrated into the education process and the CPA Exam. There are other areas of transformation that need to be addressed, as well. While technology has the ability to do the “number crunching,” stakeholders have expressed concern that we should not lose sight of our core pillars of accounting, auditing and taxation. We must also keep in mind that the accounting and auditing standards and Internal Revenue Code continue to grow. Research from the AICPA and Wolters Kluwer indicate that since 1980, there are three times as many pages of the IRC, four times as many accounting standards and five times as many auditing standards. And, to boot, much of the work that would have been completed by newly hired CPAs is being outsourced, automated or completed by paraprofessionals. Ultimately, the current licensure model is unsustainable as the future of our profession is changing dramatically. Licensure is moving towards three exams in core professions of auditing, tax and accounting with technology integrated and a fourth exam of either tax compliance, business reporting or information systems to be chosen by the candidate.
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Woven throughout CPA Evolution is the discussion of the CPA Pipeline. A 2016 Accounting Today article called the dearth of new CPAs one of the biggest issues facing the accounting profession. Simply said, not enough people want to become CPAs. We’ve heard from our own members that graduates are bypassing work experience at a public accounting firm and accepting offers in the industry sector instead. An August 2016 report from the Illinois CPA Society says, “companies don’t value the credential and advisory services at firms don’t require the CPA.” As we’ve asked about pipeline challenges from members, w’ve heard things like churn and burn, inability to have affordable housing, no managerial level people to be found, identity crisis of what our profession is and low starting pay. Interestingly, the 150hour requirement doesn’t come up in a negative way from a licensure standpoint. However, it is clear that we need to do some work as it relates to barriers to entry of some of our minority students and first-generation accounting graduates. We have big challenges ahead of us. My ask for you is to give some thought to the challenges in your own place of employment and share with us some opportunities that we can pursue moving forward. CPA Evolution and CPA Pipeline issues will be with us for a while. n
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PRESIDENT’S MESSAGE STACY WEIGHT, CPA it’s four-part status, was taken by all aspiring CPAs with paper and pencil, and was offered twice a year. The next period of time with the most significant shift in the Exam was in 2004 when the Exam was moved to be a computerbased format to be taken from secure testing centers.
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am an avid reader. In any spare minute I have you can find me curled up with a good book. My current favorite genre is historical fiction. I love to read about history in the form of a story. The first records we can identify as the earliest accountants were in Ancient Mesopotamia. They used the first accounting systems to keep record of crops and livestock. I can only imagine what life was like in the 1890s — almost 130 years ago. This was an era marked by severe depression and incredible scientific medical inventions like the X-ray. The earliest standardized cars were being produced. It was long before air travel, computers, and cell phones were even imagined. It was also the decade in which the very first CPA Exam was ever administered. The first CPA exam was given in New York in 1896. The exam followed the passing of a new law that contained a “grandfathering” provision that gave experienced practitioners one year to become a CPA without taking the Exam. These individuals had to be reputable accountants in public practice since January 1, 1890. That very first Exam contained four parts and there were three individuals that successfully passed the Exam. Over the course of the next 100 years, the Exam maintained
Along with the shift in the Exam, the accounting profession has experienced tremendous changes as well. Since 1980, the Internal Revenue Code has tripled in size, the accounting standards have quadrupled, and the auditing standards have increased by a multiple of five times. The past 20 years have been unprecedented in terms of the growth of computing power. This advancement has created a brand-new set of skills that are required of individuals in the accounting profession. Many manual tasks are now being automated. The past 18 months alone has created a seismic shift in the way we work and do business. At the forefront of these changes is an effort to advance the profession to keep it relevant. The AICPA has worked to further advance the CPA Exam through an initiative called CPA Evolution. I encourage you to learn more about how the Exam is evolving and how that will help grow aspiring accountants and help them be better prepared for the future. You can find additional information at www.evolutionofcpa.org. As we continue to lead through turbulent times, I would encourage you to look back at the amazing work of the pioneers of accounting. They laid the groundwork for us clear back in ancient times and can help guide us far into the future! n
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Photos by Chris Wood Robertwoodphoto.com
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FEATURE
CREATING THE CURRICULUM FOR NEW CPAS FINDING A NEW MODEL FOR THE FUTURE
BY MONTE SWAIN, CPA, CGMA
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n 2024, NASBA and the AICPA expect to debut the new CPA Exam based on a three-part core and the candidate’s selection to complete one part of a three-part discipline. This evolutionary core + discipline model represents an innovative solution to the expanding body of knowledge expected of a licensed CPA. When launched, the Exam will represent a six-year development process that began in 2017. Thus far, the process has been collegial and transparent, involving feedback and discussions across many stakeholders. With the basic structure established, development of specific content is now moving forward, energized by an extensive practice analysis. All in all, the CPA Evolution is an impressive effort to support the work of future CPA professionals. Earlier this year, the AICPA indicated that, in concert with the evolution of the CPA Exam, it was developing a “model accounting curriculum” for academic institutions. Subsequently, the CPA Evolution Model Curriculum was announced and distributed on June 15 in an online event that was hosted on The American Accounting Association (AAA) platform. The AAA represents the largest community of accountants in academia and is positioned as a network
of thought leaders on the future of accounting teaching and research. Academic leaders in the AAA, myself included, immediately expressed concern about this new curriculum, including the process by which it was developed. The development time spent was short (less than one year) and the process was closed to public view and feedback. The AICPA did invite some well-qualified academic colleagues to serve on committees directed to consider individual aspects of the AICPA curriculum. However, the AAA was neither advised on the development process nor invited to participate. Many academicians have expressed frustration about the curriculum content. And AAA leaders are extremely concerned that a powerful organization like the AICPA has developed a uniform “model curriculum” that it is recommending across all accounting institutions, each of which are individually tasked with educating and preparing students for many career paths that are largely outside of public accounting. It is important to understand that a model curriculum is not possible or advisable for the many accounting departments and programs in universities and colleges
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across the U.S. That may sound strange. How can it be a bad idea to establish a model curriculum to teach accounting? The reason is clear, and is understandable for all of us as business professionals. It is an issue of strategy. The accounting curriculum designed and deployed by an academic institution represents its core education strategy. Strategy, by definition, is unique to the institution. To one extent or another, an accounting department or program builds its curriculum based on scanning the environment and analyzing stakeholder viewpoints. The curriculum is defined by the core values of the program and is anchored around its core strengths. According to the most recent data from the National Center of Education Statistics, there are 1,216 fouryear colleges and universities offering accounting degrees in the U.S. alone. There is no model curriculum that speaks to the diversity of these student and employer stakeholders. Many accounting students hope to successfully pass the CPA Exam and enter the public accounting profession, but most will not pursue the CPA Exam. Instead, most students graduating from these 1,216 accounting institutions will enter corporate finance, government, not-for-profit, transaction
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services, entrepreneurship, family business, consulting, law, etc. For these accounting students, and for the institutions educating these students, the AICPA model curriculum simply doesn’t fit. Further, the description of public accounting work is expanding, as are career tracks within CPA firms. To that end, accounting academicians are also expressing concern that the AICPA curriculum will constrain the innovation and agility of accounting programs as they work to educate for the future of public accounting. Even as a recommended or example model, the AICPA curriculum is problematic by virtue of the fact that it is coming from powerful organizations with the compelling influence of the AICPA and NASBA. The recommendation problem is compounded further when the curriculum is delivered and endorsed by the AICPA and NASBA to CPA societies and boards of accountancies across 55 states and territorial jurisdictions. The pressure to adopt that is brought to bear by these two institutions is problematic for the kind of innovative curriculum work that belongs to each of our 1,216 academic institutions. For this fundamental reason, key leadership groups and member segments in the AAA
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have expressed serious reservations about the AICPA model curriculum.
A C C O U N T I N G E D U C AT O R S A N D INSTITUTIONS NEED TO BE AWARE OF A N D B E A B L E T O E F F E C T I V E LY S U P P O R T S T U D E N T S W H O A R E C H O O S I N G A C PA C A R E E R PA R T H . B U T A U N I V E R S A L M O D E L CURRICULUM ISN’T THE SOLUTION.
One key leadership group in the AAA is the Education Committee, which is tasked to monitor, act as liaison for, and respond as appropriate to the educational efforts of outside constituents. Once the AICPA provided its completed curriculum to the AAA, the Education Committee began to carefully review the model and content. Recently, the Education Committee completed its review and expressed significant concern about the AICPA curriculum’s excessive emphasis on preparing for the CPA Exam, an exam that is focused on the first few years of the CPA career. The committee concluded that the core of the AICPA curriculum is heavily skewed toward lower-level thinking skills that are heavy on memorizing many facts but potentially light on critical thinking. This education perspective is likely to result in students missing critical knowledge and skills that are foundational throughout the career of an accounting or finance professional. This is the core issue for the AAA Education Committee.
AAA actually have a long history of collaborative work identifying, building, and providing education resources for academic institutions and individual instructors. This joint work usually begins with evaluating the evolving future of the accounting profession and the need for accounting education to evolve as well. Guides are then created to help each institution effectively assess its own program. As gaps are identified that hinder the institution’s strategic ability to provide education value for the professional world, resources are made available. In the past, the AICPA and the CPA firms have been incredibly generous with financial and consulting support to accounting programs. This kind of collaborative work with the AAA results in energized and innovative progress in accounting curriculum across many academic programs. To that end, leaders and members in the AAA are appealing strongly to the AICPA to convert and redeploy its model curriculum resources into a partnered initiative with the AAA and other stakeholder organizations in order to continue building guidance and support for the many academic institutions as they work individually to build strategically sound curricula for their stakeholders, including stakeholders with a vested interest in the CPA profession. I am confident that the AICPA and the AAA can continue working together to build strength and provide flexibility for accounting programs while providing resources for those institutions with a strategic emphasis on the CPA Exam. n You can view specific AAA letters expressing concern about the AICPA/NASBA CPA Evolution Model Curriculum at https:// aaahq.org/CPA-Evolution-Model-Curriculum. Monte Swain, CPA, is the Deloitte Professor at the BYU School of
The fundamental goal of the AICPA model curriculum is CPA Exam preparation. This is one important aspect of accounting education, and as a goal it can be complementary to some extent with many accounting programs. However, the chief purpose of a college accounting curriculum is foundational knowledge and skills needed for a lifetime of professional work. On that point, there is significant conflict with the AICPA curriculum.
Accountancy. Since graduating from Michigan State University in 1991, he has taught management accounting at BYU. He is published in a number of scholarly and practitioner journals and is currently researching strategic performance measurement models and information presentation effects in balanced scorecards. He is a Certified
I understand the AICPA’s motivation for this curriculum push. The new CPA Exam in 2024 is a sea-change event. Accounting educators and institutions need to be aware of and be able to effectively support students who are choosing a CPA career path. But a universal model curriculum isn’t the solution. What is the alternative? The AICPA and the
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Management Accountant, a Chartered Global Management Accountant, and the senior author of the Wiley CMAexcel exam preparation system.
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THE NEW CPA EXAM
CHANGING CORE COMPETENCIES
R E D E F I N I N G T H E C PA L I C E N S U R E M O D E L BY CARL R. MAYES JR., CPA
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t’s never been a more exciting time to pursue the CPA license. The role of today’s CPA has evolved, and newly licensed CPAs are taking on new responsibilities that were traditionally assigned to more experienced staff. Becoming a CPA means candidates need deeper skill sets, more competencies and a greater knowledge of emerging technologies. We’ve heard from accounting firms that they are looking for professional staff with skills like digital acumen, data analysis, IT governance and cybersecurity. That’s why the CPA licensure model is changing. CPA Evolution is a joint initiative of the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA). The initiative is transforming the CPA licensure model to reflect the rapidly changing skills and competencies the accounting profession requires today and will require in the future. It will put in place a flexible and adaptable licensure approach that will serve as the foundation for future-proofing the CPA profession. Over the past three years, NASBA and the AICPA gathered input from more than 4,000 stakeholders from across the profession on how to transform CPA licensure and meet the needs of the marketplace. During these conversations, several key themes became clear:
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• The profession supports the need to change the CPA licensure model. • Newly licensed CPAs should all demonstrate strong common core competencies. • The new CPA licensure model should position the CPA for the future. • The new CPA licensure model should continue to protect the public interest. Based on this feedback and lessons learned from studying other international and domestic licensure models, NASBA and the AICPA developed a new approach to CPA licensure. In 2020, both the AICPA Governing Council and the NASBA Board of Directors voted to support advancement of the CPA Evolution initiative. The AICPA and NASBA are now moving forward with implementing the new model.
WHAT IS THE NEW LICENSURE MODEL? The new CPA licensure model takes a core + discipline approach, starting with a deep and strong core in accounting, auditing, tax and technology that all candidates will be required to complete. Each candidate will also choose a discipline in which to demonstrate deeper skills and knowledge. Regardless of chosen discipline, this model leads to full CPA licensure, with rights and privileges consistent with any other CPA. A discipline selected for testing will not mean the CPA is limited to that practice area.
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Blueprint will be exposed for public comment in mid-2022. The AICPA and NASBA expect the new Exam will launch in January 2024.
WILL THE NEW LICENSURE MODEL IMPACT ACCOUNTING FIRM HIRING? We surveyed accounting firms with 11 or more CPAs and 83% told us that if university accounting programs aligned with CPA Evolution, their hiring of new accounting graduates would likely increase, accounting program graduates would be considered more valuable than they are today, or both.
This model • Enhances public protection by producing candidates who have the deep knowledge necessary to perform high-quality work, meeting the needs of organizations, firms and the public. • Is responsive to feedback, as it builds accounting, auditing, tax and technology knowledge requirements into a robust common core. • Reflects the realities of practice, requiring deeper proven knowledge in one of three disciplines that are pillars of the profession. • Is adaptive and flexible, helping to future-proof the CPA as the profession continues to evolve. • Results in one CPA license.
WHAT DOES THIS MEAN FOR THE UNIFORM CPA EXAMINATION? The specific content of the core and the disciplines will be determined by a CPA Exam practice analysis, which is currently underway. Practice analyses — gathering information about the current and future state of the profession and the work of newly licensed CPAs — are conducted periodically as part of the AICPA’s ongoing efforts to make sure the Exam is current and to maintain its validity and reliability. The current practice analysis will likely wrap up in 2022, and an Exam
WHAT’S NEXT FOR STUDENTS AND CPA CANDIDATES? Aspiring CPAs who are college freshman now will be among the first to take the overhauled version of the CPA Exam when it launches in 2024. Current CPA candidates will be able to sit for the current CPA Exam until the launch of the new Exam. A transition plan for those that have begun but not completed the CPA Exam will be announced later this summer.
WHERE CAN I GO FOR MORE INFORMATION? As CPA Evolution continues to progress, please check back for updates at EvolutionofCPA.org. If you have any questions, please reach out to us at Feedback@ EvolutionofCPA.org. n
Carl R. Mayes Jr., CPA is project lead for the Enhancing Audit Quality (EAQ) initiative and manages CPA Evolution, an effort to transform the CPA licensure model to recognize the rapidly changing skills and competencies needed in practice. Carl previously served on the AICPA Peer Review team. He is a licensed CPA in North Carolina and worked as an auditor for regional and local firms before joining the AICPA.
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THE NEW CPA EXAM
TIMING A TRANSITION FOR A NEW EXAM BY DANIEL J. DUSTIN, CPA
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he CPA Evolution Initiative began more than four years ago as an effort to update the current CPA licensure model to address significant disruptors in the profession. Data provided by the World Economic Forum highlighted a changing business environment caused by increasing technological advances. These advances, coupled with new client and business demands, have changed the way CPAs are providing professional services to their clients. To address this rapidly changing practice environment, the American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA) embarked on a multi-year project to update the licensure model used by the 55 U.S. Boards of Accountancy. Information about the initiative, including a video on the history of the project and frequently asked questions, may be found at www.evolutionofcpa.org. Initial project steps included assessing each jurisdiction’s laws and rules to better understand what impact the project might have on the jurisdictions as well as developing a new model that would assess the entry-level skills and competencies needed by newly licensed CPAs. After receiving feedback from a broad range of more than 4,000 stakeholders, including state board members, members of the AICPA and state CPA societies, CPAs in public practice, government, and business & industry, as well as the academic community and students, the CPA Evolution Model was approved by the AICPA’s Governing Council and the NASBA’s Board of Directors in 2020. We are now more than a year into the implementation phase of the project which is scheduled for completion in 2024. Last fall, the AICPA and NASBA created four task forces of
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subject matter experts from the academic community and CPAs, including members from Boards of Accountancy, to develop the CPA Evolution Model Curriculum which was released in June 2020 at a virtual launch event attended by more than 2,500 educators and other interested stakeholders. The CPA Evolution Model Curriculum is not required for adoption; however, it is a great tool to guide the academic community as they consider revising their accounting programs to align with the evolution of professional practice. As part of the implementation process, changes will also be made to the Uniform CPA Examination. All candidates will be expected to pass three core sections of the Exam with content in the areas of accounting, audit, and tax. Candidates will also have to demonstrate a deeper level of skills and knowledge by passing one of three disciplines: Business Analysis & Reporting, Tax Compliance & Planning, or Information Systems & Controls. Technology will be woven throughout the Exam. The Exam will continue to focus on candidates with oneto-two years of experience. Candidates will continue to be required to pass a four-section Exam that will not exceed 16 hours and candidates will also have 18 months to pass the remaining three sections of the Exam once they have initially passed their first section. Similar to the current Exam, there is no experience requirement to sit for the core or discipline sections. So how will the CPA Exam change? First and foremost, its structure will consist of three core sections plus a discipline section. As a licensure Exam and a test of minimum
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) competency for licensure as a CPA, once a candidate passes and receives conditional credit for a discipline, they cannot take additional disciplines. All sections of the Exam will contain discrete content and test a range of skills, including higher order skills such as professional skepticism and critical thinking. Another important aspect of the move to the new Exam model in January 2024 is the transitional credit that candidates in the Examination pipeline will receive for the sections they have successfully passed prior to the launch. NASBA and the AICPA recently announced an Exam transition policy that will provide candidates with a roadmap from the current Exam process to the new Exam. The chart above provides an overview of how conditional credit will be applied to the new Exam Credit earned on the current Exam will be granted for a section of the new Exam. If the Business Environment & Concepts (BEC) section of the current Exam has not been passed by the date of transition to the new Exam, the candidate must pass a discipline section of their choosing as their fourth part. If the BEC section has been passed by the date of transition to the new Exam, its credit shall be applicable for licensure until credit for that BEC section
expires. If the BEC credit expires before the candidate passes all four sections, the candidate must then pass a discipline of their choosing. Behind the scenes, NASBA will be working with Boards of Accountancy to upgrade their database systems to accommodate these changes prior to the launch of the new Exam. These are exciting times for those entering the profession. Firms surveyed indicate that revising the education model to include more technology content combined with a new Exam model that will test deeper skills and knowledge will create an environment where the firms place greater value on accounting program graduates resulting in increased hiring from college and university accounting programs. n
Daniel J. Dustin, CPA is the Vice President, State Board Relations for the National Association of State Boards of Accountancy (NASBA) where he serves as an advocate for State Boards of Accountancy and finds new ways and opportunities to provide support and service to NASBA’s member boards. Dustin earned a Bachelor of Science degree and a Master of Science degree in Accounting from Clarkson University, and became a licensed CPA in 1988.
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These numbers reflect the current numbers of CPAs and accountants and students who are enrolling in accounting programs. Source: https://ipassthecpaexam.com/number-of-cpa/
BY THE
NUMBERS
30 – 45% ACCOUNTANTS WITH CPA CREDENTIALS IN THE U.S.
4% 1.4 MILLION
DECREASE IN UNIVERSITY ENROLLMENTS IN ACCOUNTING PROGRAMS FROM 2016 – 2019
NUMBER OF ACCOUNTANTS & AUDITORS IN THE U.S. IN 2018
431,000
NUMBER OF AICPA MEMBERS IN 2020
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654,375
NUMBER OF ACTIVELY LICENSED CPAS VIA NASBA
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TAX ISSUES
BEATING THE UTAH STATE TAX COMMISSION IN THE GAME OF DOUBLE TAXATION
BY BARBARA M. SMITH, CPA, CIRA, CDBV, CFF
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ith the large number of individuals moving in and out of Utah in recent years, the issue of domicile has risen to a level of high priority for CPAs and their clients. Domicile has profound legal implications on taxpayers. As outlined in Oklahoma Tax Comm’n v. Chickasaw Nation, the state where an individual is domiciled has much broader authority to tax the income of that individual than other states. There is a “well-established principle of interest … taxation … that a [state] may tax all the income of its residents, even income earned outside the taxing jurisdiction.”1
The Utah State Legislature passed a domicile statute in 2011 that requires mandatory domicile in Utah if2 • Children claimed by taxpayers as dependents are in Utah public schools. • The taxpayer claims a primary residence property tax exemption on a home. • The taxpayer is registered to vote in Utah. These issues create what the Utah State Tax Commission (USTC) call a rebuttable presumption of domicile. Where a taxpayer and their CPA determine that the taxpayer is domiciled outside of Utah, the USTC has a pattern of issuing audit assessments to taxpayers, reversing the
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domicile reported on the return based on property tax or voter registration records. Although Section 59-10136(2)(a) provides guidelines for establishing a rebuttable resumption of domicile, the USTC typically does not allow the taxpayer to properly apply the statute. This causes nightmares for taxpayers who file part-year returns in Utah and another state for the year they move in or out of the great state of Utah. As stated in an amicus brief prepared by the UACPA in an appeal before the Supreme Court in a domicile case, this has resulted in a trap for the unwary in which many taxpayers have fallen. The statute in Subsection 5910-136(2)(a) provides that any and all facts are to be allowed to rebut a presumption of Utah domicile. The statute specifically provides that “domicile” is rebuttable. Subsection 59-10-136(3)(b) indicates that the standard for evaluating domicile is a preponderance of the evidence. And the Utah Supreme Court has ruled, “a preponderance of the evidence is the level of proof required in the typical civil case where only money damages are at stake.”3 When arguing issues of domicile, taxpayers and CPAs must require the USTC to consider all relevant evidence. Rule 401 of the Utah Rules of Evidence provides evidence is relevant if (a) it has any tendency to make a fact more or less probable than it would be without the evidence; and (b)
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10. Whether the individual registers their children in Utah schools
the fact is of consequence in determining the action. And Rule 403 (Excluding Relevant Evidence for Prejudice, Confusion, Waste of Time, or Other Reasons) states “The Court may exclude relevant evidence if its probative value is substantially outweighed by a danger of one or more of the following: unfair prejudice, confusing the issues, misleading the jury, undue delay, wasting time, or needlessly presenting cumulative evidence. The Legislature has identified 12 factors to help determine relevant evidence for determining domicile in Subsection 59-10-136(3)(b). When considering domicile issues, the taxpayer and CPA should examine the factors listed below and request that the USTC consider the preponderance of the evidence in light of all the facts and circumstances. 1. Whether the individual or individual’s spouse has a driver license in the state
11. Whether the individual maintains a place of abode in the state and spends in the aggregate 183 or more dates in the state 12. Whether the individual or their spouse votes or has registered to vote in another state The above factors can be applied to prove that a taxpayer is domiciled in Utah, and conversely, that a taxpayer is NOT domiciled in Utah, therefore, not subject to taxation on out-of-state wages by the USTC. For example, a client that moved out of state on December 30, 2011, and then returned to Utah on June 30, 2012, should not be taxed on out-of-state wages on the part-year Utah return filed for July 1, 2012, through December 31, 2012. In the current example, the client • obtained an out-of-state driver license
2. Whether a dependent claimed on the federal tax return is a student in an institute of higher education
• acquired out-of-state professional licenses • enrolled their children in out-of-state schools for January through June 2012
3. The nature and quality of the living accommodations of the individual or their spouse in Utah as compared to another state
• sold their Utah home and purchased a home in a state outside Utah, paying out-of-state property taxes on the newly purchased home
4. The presence in Utah of a spouse or dependent claimed on a federal tax return
• sold the newly purchased home in July 2012 and purchased a different home in Utah in September 2012
5. The physical location in which the earned income is earned 6. Whether the individual or their spouse is a member of a church, club, or similar organization in Utah 7. Whether the individual or their spouse lists an address in Utah for mailing with a government organization or other relevant entity 8. Whether the individual or their spouse asserts residence in Utah on a document other than a tax return filed with a governmental agency (e.g., business licenses, etc.) 9. The failure of an individual or their spouse to get a license or permit required to have domicile (i.e. driver licenses, etc.)
• moved their church records to the new state outside Utah • changed their mailing address to the new address But they did not register to vote in the new state. The spouse was a conscientious non-voter and the husband had not voted in the last two elections. Based on the failure to register to vote in the new state, the USTC determined that the wages earned from January through June 2012 should be reported as taxable on the Utah return for 2012. When contesting the audit, the original decision was made in favor of the USTC. While acknowledging that
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the taxpayers lived and worked in the new state, obtained driver licenses and professional licenses, and enrolled their children in the new state’s schools, the USTC ruled that the taxpayers were domiciled in Utah for the full year. The initial ruling by the USTC was based on the failure of the taxpayer to register to vote upon arrival in the new state. The USTC refused to consider the children’s attendance at out-of-state schools as relevant. Upon appeal, it was argued that the USTC must consider all of the factors that existed to prove that the taxpayers had created domicile in another state. The USTC had requested the taxpayers to respond to a domicile survey, and in response to the survey, documentation had been provided to the USTC evidencing that indeed, a majority of the factors supported domicile out of state.4 To allow the USTC to ignore use of all the facts and evidence is prejudicial. Such action denies taxpayers a fair consideration of the preponderance of the evidence. Subsection 59-10-136(3) indicates that the 12 factors are to be used “if the requirements of Subsection (1) or (2) are not met for an individual to be considered to have domicile in this state.” Subsection (1) deals with whether a taxpayer has a child enrolled in a public kindergarten, public elementary school, or public secondary school, or if the individual or their spouse is a resident student. Subsection (2) indicates that a person is domiciled in Utah if the individual votes in Utah and has not registered to vote in another state, or the individual asserts residency in Utah for purposes of filing an individual income tax return and asserts that they are a part-year resident.5 As stated by Commissioner Lawrence C. Walters,
states is common. Individuals work for companies that transfer them to a new location with the stroke of few keys on the computer. A person may work in two or three states within a year. If other states applied domicile laws in the same manner as Utah, taxpayers would be caught in an endless web of multiple states declaring domicile over them for individual income tax purposes. By forcing the USTC to properly apply the statute according to its language, those who live in Utah, send their children to Utah school and benefit from Utah taxes will be properly taxed in Utah. At the same time, those who clearly do not live in Utah will not have their income improperly clawed into Utah based on all the facts and circumstances, or simply because they chose not to register to vote after having once lived in Utah and voted there! So as CPAs preparing returns for individuals who are mobile or moving in or out of Utah, make sure that you obtain the necessary documentation to substantiate the residency of your client. Obtain the documents that will later be requested in a domicile survey by the USTC. Do not be afraid to file that part-year return, but be prepared to defend your decision before the USTC. n 1 Oklahoma Tax Comm’n v. Chickasaw Nation, 515 U.S. 450,463, 115 S. Ct. 2214 (1995) 2 UC§59-10-136 3 Egbert v. Nissan North America, Inc., 2007 UT 64, ¶12 4 It should be noted that a decision on the secondary appeal has not yet been rendered. 5 Beware of relying solely on this section as the USTC often does not allow the taxpayer to use the filing of a part-year return in Utah and another state to avoid clawing income from the other state back into Utah for taxation. 6 Appeal 19-1074, Murray, Petitioners v. Auditing Division of the Utah State Tax Commission, Dissent by Commissioner Lawrence C. Walters
The Legislature used the ‘if’ not ‘only if’. The Commission must consider that the Legislature framed this language with care. Thus, while the 12 factors are to be used if the requirements of Subsections (1) and (2) are not met, the plain language of the statute does not preclude their inclusion in a rebuttal of any presumption created under Subsection (2). The Commission must consider all of the relevant facts with particular weight on factors listed in Subsections (1) and (2), in considering any attempt to rebut a Subsection (2) presumption.6
Barbara M. Smith, CPA, has her own firm where she specializes in tax, bankruptcy and fraud accounting. She has worked at Neilsen Elggren and Durkin and PricewaterhouseCoopers. She graduated from the University of Utah with a Master of Accounting and is also has a Certified Insolvency Restructuring Accountant (CIRA), Certified Financial Forensics (CFF), and Certified Distressed Business Valuation (CDBV).
As a society, we live in an era where mobility between
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Help Your Clients Get the Credit They Deserve 61%
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© 2021 Paychex, Inc. All Rights Reserved. | 06/21/21
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2021 AWARDS
CELEBRATE CPAS
This year’s Inauguration & Awards Banquet was combined with the Centennial Gala on Thursday, Sept. 23, at Grand America Hotel. Awards were presented to members who were nominated by their peers through the UACPA website and by members of the nominations committee. Newly licensed CPAs were recognized and inducted into the profession. See photos from the event on page 26. The 2021 award recipients honored include the following:
OUTSTANDING CPA IN BUSINESS & MANAGEMENT
OUTSTANDING CPA IN PUBLIC PRACTICE
William M. Lodder, CPA
Ken Jeppesen, CPA
Butch is the vice president of Finance and Accounting for LR Dynamics. He earned his bachelor’s in accounting from Weber State College and an MBA with the first graduating class of the UACPA — Utah State program. Butch has worked for 18 years in oil, gas and mining and for 21 years in manufacturing. He has served on the UACPA Business and Industry Conference Committee for more than 10 years.
Ken is an assurance partner at Eide Bailly LLP. He graduated with his Bachelor of Arts and Master of Accountancy degrees from Utah State University in 2000 and is a member of the USU School of Accountancy Advisory Board where he enjoys spending time on campus helping future CPAs. Ken loves to volunteer, especially coaching his kid’s sports teams and with the Boy Scouts of America. Ken enjoys camping, backpacking, hiking, golf and attending Utah State football games.
OUTSTANDING CPA IN NONPROFIT & GOVERNMENT Debbie Davis, CPA Debbie is the chief audit executive for the Utah State Board of Education. She has worked in government auditing at the state level for 20 years. She graduated from Brigham Young University in 2001 with a Bachelor of Science in Accounting and Master of Accountancy. Debbie serves on the State and Local Government Conference Committee. She also facilitates the state internal audit director group.
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RISING STAR Rustin Hansen, CPA Rusty graduated from Utah State University in 2011. He is a tax manager for Tanner LLC and has more than 10 years of public accounting experience. He has helped companies with federal and state tax compliance, merger and acquisition transactions, international tax issues, and tax provisions. Rusty serves on the Leadership Academy committee, a subcommittee with the Emerging Professionals Council for the UACPA, and enjoys seeing the personal development of attendees. He enjoys spending time outdoors hiking, UTV riding, and camping with his family.
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DISTINGUISHED SERVICE Wade K. Watkins, CPA Wade graduated from Weber State University and now serves on their Accounting Advisory Council. Currently an advisory partner with Squire, Wade specializes in providing outsourced controller and CFO services, sales and use tax assistance, and assurance services. He recently served two terms on the Utah Board of Accountancy and has served as president of the UACPA and as a member of the AICPA Council. He has also taught accounting at Weber State University. Wade and his wife, Dorothy, have four children and two grandchildren. Wade enjoys spending time with family in Utah’s mountains and national parks hiking, backpacking and mountain biking. He has also been coaching and refereeing youth soccer for nearly 30 years.
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JEANNIE PATTON LIFETIME SERVICE AWARD
OUTSTANDING LEADERSHIP COUNCIL MEMBER
Val Oveson, CPA
Bryan Bolander, CPA
Val is the managing member of a consulting firm specializing in business consulting, exit planning, and government relations. He recently retired as a tax partner with WSRP, LLC. Val has held executive positions in business and government as the National Taxpayer Advocate of the IRS, chair of the Utah State Tax Commission, managing director at PricewaterhouseCoopers, and consultant with KPMG. Val served as Utah Lieutenant Governor for two terms, Utah State Auditor for one term, and CIO for the State of Utah. Val is a member of the board of directors of American Express National Bank.
Bryan graduated magna cum laude from the University of Utah with a bachelor’s degree in accounting in 1977. He worked at Haynie and Company for 11 years then as a CFO/controller for various companies. Bryan joined forces with Henry VanTienderen in the firm that became VanTienderen, Carter and Bolander in 1997 and worked there until his retirement in 2020. Brian has served on several UACPA committees and on the board as treasurer, vice president, president-elect, and president in the 2006 – 2007 year. While president, he served on the AICPA Council. Bryan was honored with the Hands Up Award from the Salvation Army in 2009 and with the UACPA’s Outstanding CPA in Public Practice Award in 2010. Bryan and his wife, Jean, have five children and 14 grandchildren.
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OUTSTANDING EDUCATOR Joshua Cieslewicz, CPA Joshua, the UVU MAcc director, comes from a construction background. A first-generation student, he graduated with a MAcc in 2001 from BYU. EY Salt Lake City gave him the opportunity to work with incredible peers and mentors. He left as an audit senior and worked in corporate accounting prior to earning his doctorate at the University of Hawaii. As a UVU auditing professor he researches accounting supervision, ethics, culture, and corporate governance and is open to speaking invitations. He recently published an article in the premier international Journal of Business Ethics on ethics training. He lives in Heber.
LIFETIME MEMBER
LIFETIME MEMBER
LIFETIME MEMBER
Mary Kay Griffin, CPA
Weslee Anne Klein, CPA
Brian Sheets, CPA
Lee P. Esplin, CPA
Mary Kay began her CPA career in 1970 with an emphasis in taxation, financial accounting, business consulting and litigation support. She graduated from the University of Utah with a Bachelor of Arts degree in Accounting and was recognized by the David Eccles School of Business in 2006 as a Distinguished Alumni. Mary Kay has received numerous awards, including the National Women in Accounting Public Service Award from AWSCPA in 2016, Emeritus Merit of Honor Award from the University of Utah Alumni Association in 2015, Stevie Awards Lifetime Achievement in Business Silver Medal in 2015, United Way of Salt Lake Women’s Leadership Council Member of the Year in 2014, Salt Lake Chamber of Commerce Pathfinder Award, and the Utah State Bar Community Member of the Year Award in 2012.
Weslee served as president of the UACPA in 2001 and now, as a retired CPA, continues to volunteer with leadership council. She greatly enjoyed her time in the accounting profession and loved working with clients. Working with her fellow CPAs was a gift; interacting with people who love the puzzle and challenge of finding the best answer was a dream. She had mentors across the board, including staff, managers, administration, and partners. She gives them the credit for the success she has been able to achieve.
Brian completed his undergraduate degree at the University of Utah before going to the University of Southern California where he received his master’s in corporate taxation. He began his career working for Hansen, Barnett and Maxwell in Salt Lake and Grant Thorton in Los Angeles, after which he left public accounting and worked at various non-profit companies as CFO, including Weingart Center in Los Angeles and the Great Salt Lake Council of BSA. Brian is currently employed by Big Brothers Big Sisters of Utah. He has taught nonprofit classes throughout the country. Brian and his wife of 42 years, Emilie, have four sons and 16 grandchildren. Brian enjoys snow skiing, gardening, fly fishing and playing with his grandchildren.
Lee was raised in St. George and worked on a cattle ranch on the Arizona Strip, which explains why he is passionate about advising clients in the agriculture business through his tax practice. Lee graduated from Dixie State University in 1976 and Southern Utah University in 1978 with a degrees in business administration and accounting. He joined Huskinson, Savage & Company and became a partner in 1982, which eventually became Savage Esplin & Radmall, PC. Lee retired after working for 39 years. He loved spending time every day with his fellow associates and his clients. Lee and his wife, Kimberly, are the proud parents of 13 children and 24 grandchildren.
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LIFETIME MEMBER
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WOMEN TO WATCH EMERGING LEADER
EMERGING LEADER
EXPERIENCED LEADER
EXPERIENCED LEADER
McKelle Holyoak, CPA
Jamie Young, CPA
Angela Morris, CPA
Amy Anolt, CPA
McKelle was born and raised in the Salt Lake Valley. She currently works as an experienced tax senior at BDO USA, LLP. She graduated from the University of Utah MAcc program in 2017. McKelle attended the UACPA Leadership Academy in 2019. She is also a member of the Junior League of Salt Lake City, a charitable organization of women who focus on volunteerism in the community.
Jamie received her undergraduate degrees in accounting and business management as well as her Master of Accountancy from the David Eccles School of Business at the University of Utah. She began her career at Grant Thornton and moved to Ortho Development where she led the accounting team. In 2020, she joined Premier Needle Arts as the assistant controller for the Crafts Group division. She served as an officer in Beta Alpha Psi in college and has since volunteered in the AICPA American Woman’s Society of Certified Public Accountants.
Angie graduated from Brigham Young University with a MAcc. She was a partner at Hawkins Cloward & Simister, Eide Bailly Orem, and now at MyCPA Accounting and Advisory Services. She enjoys working with students and new staff on developing their skills. She has served as the treasurer of the UACPA, the treasurer of the Utah Valley Chamber of Commerce, president of the Women’s Business Network, and President of the UACPA Southern Chapter. She is currently on the board of the Housing Authority of Utah County and the treasurer of the Utah Valley Estate Planning Council. Angie loves spending time at Lake Powell, cheering for the Duke Blue Devils men’s basketball team, and is a St. Louis Cardinals fan.
Amy has 20 years of accounting experience, beginning as an auditor for two international accounting firms and then joining Dental Select in 2002 where she is directly responsible for all of their financial operations. She has served as the Emerging Professionals liaison on the UACPA board. Amy regularly volunteers with Junior Achievement teaching elementary school children the fun of finance and was recognized in 2018 as an outstanding finance professional and alumni of Weber State University.
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RECOGNIZE
WELCOME NEW CPAS
Every year, we welcome the newest professionals by honoring them for the time and effort they have spent to earn the CPA designation. The following individuals were licensed between April 2018 and July 2021. Adam Faler, CPA Adam Hastings, CPA Alex Blackham, CPA Allen Woiwode, CPA Allison Hock, CPA Alyssa Edwards, CPA Amanda Slatter, CPA Austin Fields, CPA Benjamin Meacham, CPA Bhuwan Paudel, CPA Blake Burns, CPA Brad Cameron, CPA Briana Ruske, CPA Brittany Call, CPA Brittley Marie Eldredge, CPA Caleb M. Tindall, CPA Carter Wright, CPA Christine Hannemann, CPA Courtney Christensen Gillman, CPA Dalas Darren Johnson, CPA Daniel Shurtleff, CPA David Richard Garner, CPA Deanna Drollinger, CPA Elden Clyde Austin, CPA
Emily Pearson Poppe, CPA Erin Koller, CPA Grayson Tracy, CPA Hannah Paige Hlavaty, CPA Heath Armstrong, CPA Heidi Roofner, CPA Isaac C. Hawker, CPA Jack Blanding, CPA Jacob A. Smith, CPA Jeffrey Fielding, CPA Jeffrey Kessler, CPA Jill Ottley, CPA Joseph Mitchell Stanton, CPA Kailey J. Cole, CPA Katie Marshall, CPA Kaleb Nordwald, CPA Karissa Shae Kessinger, CPA Kenrik Ikaika Natividad Lopez, CPA Kevin John Smith, CPA Kevin R. Smith, CPA Kimberly McVey, CPA Kyle Merrill, CPA Leina Pilsoon Lee, CPA Madalyn Nelson, CPA
Madelene Darby Cueva, CPA Mallory Mills, CPA Matthew Edwards, CPA McKelle Holyoak, CPA McKenna Sanders, CPA Melanie Spencer, CPA Michael W. Brown, CPA Michael Murdock, CPA Michael Thiriot, CPA Montana Hadley, CPA Natalie L. Hunter, CPA Nathan Greenwood, CPA Nicole Austin, CPA Rebecca Springer, CPA Santosh Timilsina, CPA Scott Barrett, CPA Stephen Brown, CPA Tyler Poppe, CPA Valerie Illingsworth, CPA Weston W. McCloy, CPA Willie Petersen, CPA Xin Thayne, CPA Zoe Marie Machara, CPA
OATH OF A CPA I do solemnly swear that I freely and voluntarily assume the responsibilities and obligations of a Certified Public Accountant, that I support the laws and regulations and will perform my professional duties to the best of my ability, in an ethical and professional manner. As a CPA, I will uphold the honor and dignity of the accounting profession and will serve with integrity, objectivity and competence.
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PHOTOS
CENTENNIAL + AWARDS
Members, colleagues and friends gathered to celebrate newly licensed CPAs, outstanding members and the UACPA’s 100th brithday. Ken Jennings spoke and played a round of Jeopardy! with UACPA CEO, Susan Speirs, AICPA CEO, Barry Melancon and UACPA president, Stacy Weight. See a complete list of award winners on page 22.
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MEMBERSHIP
NEW MEMBERS
Congratulations to the following individuals who were approved for membership in the UACPA as of August 31, 2021. Elden Austin, CPA Mitchell H. Hansen, CPA Weber State University Joe P. Holbrook, CPA Kings Peak Tax Consulting, LLC Teresa Castanias Jeffrey G. Kessler, CPA Arthur A. Harlow Trevor Arndt, CPA Grant Thornton LLP Stephen P. Brown, CPA Lawrence Joe Nettleton, CPA Utah Valley University Kaycee Mortensen Niederhauser & Davis LLC Darin J. Fullmer, CPA Haynie & Company Daniel B. Marquardt Mike Ufret, CPA
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Parker Ynchausti, CPA Tanner LLC Spencer Shuppy, CPA KPMG LLP Jeffrey E. Lyons, CPA
STUDENT MEMBERS Brigham Young University Abigail Dryer Paul Huntsman
Matthew J. Meyer Cost Segregation Consultants Dixie State University Jeffrey Pack Jake P. Hansen Alejandro Castro Ernst & Young LLP Jacob Shepherd Brooklyn Hall Dan B. Jensen Wendy Tupuola Schreiber Foods, Inc. Jonathan Mubata Innocent Shumba Arelli Hernandez Ernst & Young LLP Wyatt Baclayon Valeria Mendoza Samuel R. Weston, CPA Chandler Marsden Noelle Hayes Valerie Bushell, CPA McKelle Davis Swire Coca-Cola USA Jaydon Evans Gregory M. Prawitt, CPA William Parker Anderson Bradshaw PLLC Andrew Allen Mataya Vasquez William Petersen, CPA Karlee Brown Deloitte Lainee Graff Dianne Longo Rachel Iverson Abraham Diaz
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University of Utah Skylar Meiners Utah State University Kadia Nelson Utah Valley University Megumi Draper Rhys Nelson Malan Sherman Ralph Edward Tuminez Hayden Moeller Ethan Russell Weber State University Jared Parkinson Western Governors University Jesutofunmi Ajayi Victoria Bryant Kyle DeVaney Charles Haas Stefan Melikian Robert Murphy Billy Rhodes Shannon Roesler Hannah Sharma Amy Shea Cheree Simpson Aaron Weisberg Hannah Manley
MEMBERSHIP
MEMBERS IN THE NEWS
Do you or your firm have news to share? Send the details to Amy Spencer, as@uacpa.org. Blake Christian, CPA, a partner at HCVT in Park City, was recognized among the Top 25 OZ Influencers, a prestigious insider list of who’s who in the Opportunity Zone industry. Award winners were honored for their work and advocacy that changes lives by serving as a driving force to revitalize the economy and distressed communities across the country. Blake has more than 35 years of experience in providing tax consulting and compliance services and specializes in federal, state and local tax incentive programs. He is leading the firm’s efforts in providing tax consulting services for Qualified Opportunity Zones. Blake holds a Master of Taxation from the University of Southern California and a bachelor’s degree in accounting and minor in finance from California State University.
D
Tanner LLC has been named as one of INSIDE Public Accounting’s Best of the Best Accounting Firms for 2021. The annual recognition honors CPA firms across the country for their overall superior performance on more than 50 IPA critera. Tanner was selected from more than 520 firms that participated in the IPA’s survey and an analysis of top firms in the United States. Additionally, Tanner was recognized as one of the fastest-growing firms in 2021 with a net revenue of $10 million or more.
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IN MEMORIAM Jay Larry Atwood 8/13/1935 – 8/3/2021 Member since 1962
David Mills 4/10/1939 – 5/30/2021 Member since 1999
Allen Ludlow 9/17/1952 – 11/30/2020 Member since 2005
Bob Burr 7/13/1943 – 7/28/2020 Member since 1981
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PHOTOS
MONEY CAMP
The UACPA partnered with Weber State University and UMB to hold the inaugural Money Camp Aug. 2 – 4 with a select group of high school students from Weber County. The first part of the camp is a three-day event with activities and learning to showcase the opportunities that come with a career in accounting. Throughout the year, Money Camp attendees will participate in activities to support their education and learning.
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PHOTOS
GOLF TOURNAMENT
The annual golf tournament fundraiser for the Utah CPA Foundation was Aug. 10 at Promontory in Park City. Thank you to sponsors Cost Segregation Consultants, Foresight Wealth Management, Zoho, Bedford Source Advisors, my529, KPMG, Beehive Insurance, Big Shot Photo Group, BKD CPAs & Advisors, Cost Segregation Authority, Eide Bailly, Haynie & Company, Human Interest, Jack & Company, Karl Malone Chevrolet, Motiv Health, NetWize, SourceAdvisors, Wells Fargo, Black Clover, Asher Golf and Paychex.
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BOARD QUESTION
WHAT IS ONE CLASS YOU WISH YOU HAD BEFORE BECOMING A CPA? Stacy Weight, CPA
Ray Langhaim, CPA
“I wish I learned how to present financial information to non-financial users. It is a critical skill to be able to present financial information to a vast array of users and in such a way that the information can provide a spring-board for a better decision-making process.”
“You can never be prepared for everything after college, but a few classes in advanced Excel and PowerPoint would have been good. Also how to manage all those emails.“
Dustin Wood, CPA
Aubrey Bickmore Neeley, CPA
“Accounting software. Upon entering public accounting, I didn’t have enough knowledge and experience related to accounting, auditing, tax, and research software. In discussing current curriculum with students, it seems that is still the case.”
“It would have been helpful to have more preparation classes or optional after hours study modules for exam preparation. Becoming familiar with testing sections, formats, scheduling options, etc. is great to understand before the big day!”
Eric Greene, CPA
Chris Skousen, CPA
“I was very much prepared to become a CPA through my great educators! Nevertheless, a class on the future of accounting (trends, technologies, ethical considerations, the future of work, etc.) might have been very illuminating.”
“Data analytical tools used in forensic investigation.”
Susan Speirs, CPA
Tad Tuttle, CPA
“Business Communications. Our profession continues to evolve to a consultative or interpretive workload. Being able to present information in an understandable format to peers, colleagues and financial statement users in an auditory as well as written format is a must have for our future CPAs.”
“I would have loved for there to be a class that helped me better understand the “day in the life,” to include insights and in-class visits from professionals in all accountingrelated fields.”
Not pictured: Katrina Baird, Paul Skeen, Jay Niederhauser
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STAFF CHAT
WHAT IS SOMETHING YOU WISH THAT YOU LEARNED IN SCHOOL? Amy Spencer
Lisa Ostrander
“I believe I would have benefitted greatly from a soft skills class to prepare me for the daily minutia of time management, networking, conflict resolutions and being part of a team.”
“I believe everything happens (and doesn’t happen) for a reason. I’m grateful to my teachers along the way, both in and out of the classroom. I try to use each moment as an opportunity to continue learning. I wouldn’t have changed anything!”
April Deneault
Tom Horn
“When I was in school, we didn’t learn about the importance of managing expenses and credit scores. I wish I would have learned to get a credit card (before the age of 30) to build and maintain a good credit score.”
“My answer is an easy one – a foreign language!”
BOARD BRIEF •
The slate of names from the Awards Committee was reviewed and approved for the 2021 year to be presented at the Centennial Gala.
•
A summary of latest developments from the State Board of Accountancy was presented. Extensions are still being granted for CPA Exam candidates who were unable to get into testing centers due to COVID.
•
A LOOK AT THE LATEST TOPICS AND ACTIONS THAT HAVE TAKEN PLACE WITH THE UACPA BOARD •
Extensive discussion was had regarding CPA Evolution and CPA Pipeline issues. As a new Exam will be rolled out in Jan. 2024, we still need to be able to work strategically with students, employers, academia and regulatory agencies.
•
Lease options were discussed as the lease for the UACPA is up in December with Hines. Alternative office spaces were discussed as we will no longer need the classroom.
Discussion was had regarding the possibility of peer review of tax services. This has been discussed at the AICPA level.
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ALL IN ONE LAWS & RULES + ETHICS Fulfill Required CPE in This Virtual Session
Three (3) hours of Ethics Marty Van Wagoner teaches "Ethics and Professional Conduct: Updates and Practical Applications" One (1) hour of Utah Laws & Rules Susan Speirs will walk you through Utah-specific guidelines
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ALL IN ONE SESSION Date: Friday, Oct. 29 Time: 8 - 11:30 a.m. Location: Virtual CPE: Four Hours; 3 hours of Ethics, 1 hour of Utah Laws & Rules Fees: $150; $99 for members
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MEET A MEMBER MICHAEL LEWIS, CPA section of a summer accounting course (for students receiving a minor in business) that he needed someone to teach. He asked if I would like to try teaching. I said yes, and the rest is history. I’ve gone from an adjunct to an assistant to an associate to a professor in 12 years. I absolutely love being in the classroom and interacting with students.
M
ichael Lewis, CPA, is the associate chair and a professor at the University of Utah David Eccles School of Business. Michael says, “My background is pretty crazy. I am originally from Indianapolis, Indiana, but have lived all over the world. I come from a family full of artists, musicians, and authors. Yet, somehow, I am a CPA. I have been everything from a civil engineer (U.S. Air Force; seven years, specializing in high voltage electricity and living in Spain, Egypt, Saudi Arabia, and Turkey), to an auditor (KPMG, Silicon Valley), to overseeing R&D Finance at Apple, to running a financial consulting group at Indiana University, to now being a professor at the U. During all of that, I was fortunate to attend the University of Maryland, Auburn University, Cal. State University-Fresno, Indiana University, and the University of Utah. I am also a proud husband (hello Sara!) and father to my three children (Elijah, Katherine, and Samuel).” How did you become involved in academia? By luck. My plan was to return to accounting/finance in the tech industry. However, Bob Allen (fantastic professor here at the U), was the chair at the time, and he had a single
What would surprise people to know about you? Maybe that I love anything and everything related to UFOs, ghost stories, etc. I actually listen to old recordings of my favorite talk radio interviewer (UFO enthusiast, Art Bell) before falling asleep each night. Yes, my wife tolerates that! What do you like to do outside of work? I basically spend my free time trying to golf (heavy emphasis on trying) and forcing my kids to hang out with me. Those of you with teenagers understand that. What are some of your goals both personally and professionally? My goals personally are to continue to grow as a husband and father. My professional goals are to continue to learn. I am currently taking classes to learn “new technologies” (new to me), so that I can bring more to the classroom for our students. What advice do you live by? Well, I wake up early every morning happy to start the day. I’m literally excited to get another day. So, I try to tell everyone I can that we should appreciate and be grateful that we get another day! n
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TECH TALKS Earn one hour of CPE at these virtual lunch sessions complimentary to UACPA members. OCT. 19 The Evolving Role of Technology in Financial Services
NOV. 16 I’ve Got All This Data, Now What?
Register at uacpa.org/techtalks
Technology Conference
Dec. 16 – 17
Time: 8 a.m. – 4 p.m. Location: Virtual Conference Cost: $450; $400 for members
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Register at uacpa.org/tech
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UACPA Virtual Courses
Register online at uacpa.org, or call the UACPA office at (801) 466-8022. DATE
CPE
COURSE TITLE
INSTRUCTOR
MEMBER FEE*
NONMEMBER FEE*
october 10/20/21
8
Applying the Uniform Guidance in Your Single Audits
Jeanette Bax-Kurtz
$290
$345
10/21/21
4
Controller's Update: Today's Latest Trends
James Giannantonio
$170
$195
10/21/21
4
Critical Business Risks - Identifying Your Blind Spots
James Giannantonio
$170
$195
10/22/21
4
Annual Update for Accountants and Auditors
Marty Van Wagoner
$200
$345
10/25/21
4
Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know
Marty Van Wagoner
$170
$195
10/26/21
4
Tax Planning for Small Businesses
10/29/21
4
All In One Ethics (Required Utah Laws & Rules + 3 Hours Ethics)
4
The New Auditors' Reporting Standards
Steven Wagner
$170
$195
Marty Van Wagoner & Susan Speirs
$99
$150
Martin Birr
$290
$345
november 11/4/21 11/9/21
4
Individual Tax Planning
William Taylor
$290
$345
11/12/21
4
Conducting a Remote Audit
Marty Van Wagoner
$170
$195
11/15/21
4
The Bottom Line on the New Lease Accounting Requirements
Marty Van Wagoner
$170
$195
11/18/21
4
Reviewing Partnership Tax Returns: What Are You Missing?
Tom Prieto
$170
$195
11/18/21
4
Reviewing S Corporation Tax Returns: What Are You Missing?
Tom Prieto
$170
$195
11/19/21
2
Current and Upcoming FASB Issues
Marty Van Wagoner
$80
$95
11/19/21
2
Current Audit Environment and FASB Activity
Marty Van Wagoner
$80
$95
11/30/21
4
Preparation, Compilations, and Review Engagements: Update and Review
Thomas Sheets
$170
$195
12/2/21
4
Individual Income and Tax Compliance Annual Update
Steven Wagner
$170
$195
12/2/21
4
Reviewing Individual Tax Returns: What Are You Missing?
Steven Wagner
$170
$195
December
12/6/21
2
FASB Activities Impact on NFP Financial Reporting
12/13/21
4
Advanced Financial Skills
12/14/21
8
What Fraud Schemes Exist in Your Organization
12/15/21
8
AICPA’s Annual Federal Tax Update
Marty Van Wagoner
$80
$95
Bruce Shepard
$170
$195
Joann Cross
$290
$345
Mike Blackburn
$200
$345
12/20/21
2
Accounting for Exchange Transactions, Contributions and Gains and Losses
Roger Cusworth
$80
$95
12/20/21
2
Accounting for Expenses in a NFP
Roger Cusworth
$80
$95
*Early-bird pricing available for classes when registering at least two weeks in advance. (Excludes 2- and 4- hour courses and core training courses). AICPA members receive an additional $30 off the price of each 8-hour course (excluding 2- and 4-hour courses and core training courses) where the AICPA is listed as the vendor.
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OCTOBER 2021
37
Register at uacpa.org/lecture
LECTURE SERIES Earn one hour of CPE at these virtual lunch sessions complimentary to UACPA members.
OCT. 21 Year-End Tax Planning
JAN. 13 Managing Business Growth
NOV. 11 R&D Credit
FEB. 10 Ethics
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OCTOBER 2021
CLASSIFIEDS To place your classified advertisement and reach Utah CPAs, submit your ad online at uacpa.org. Utah Practice For Sale: gross revenues shown: Utah Co CPA $410K - Tax 65%, Bkkpng 16%, Payroll 10%, strong cash flow over 60%. For more information, please call 1-800-397-0249 or visit www.APS.net to see listing details and register for free email updates.
CONGRATULATIONS
100% FIRMS Congratulations to the firms and businesses currently participating in the UACPA’s 100% membership program. This demonstrates their commitment to the profession, to the association’s high ethical standards and lifelong learning.
THINKING OF SELLING YOUR PRACTICE? Accounting Practice Sales is the leading marketer of accounting and tax practices in North America. We have a large pool of buyers, both individuals and firms, looking for practices now. We also have the experience to help you find the right fit for your firm, negotiate the best price and terms and get the deal done. To learn more about our riskfree and confidential services, call Ryan Pannell with The Holmes Group at 1-800-397-0249 or email Ryan@ apsholmesgroup.com.
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Firms with 10 or more full-time CPAs are eligible to be a part of the 100% membership program. Learn more by talking to Lisa Ostrander at 801-466-8022 or lostrander@uacpa.org.
OCTOBER 2021
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PAID
Salt Lake City, UT Permit No. 1996 UTAH ASSOCIATION OF CPAS 136 S. MAIN STREET, SUITE 510 SALT LAKE CITY, UT 84101
VIRTUAL ANNUAL CONFERENCE
ANNUAL CONFERENCE DECEMBER 9 – 10 KEYNOTE SPEAKERS
THE IRON COWBOY and back by popular demand NOELLE PIKUS-PACE AND THURL BAILEY
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OCTOBER 2021
