The Journal Entry - October 2020 by UACPA

October 2020

The Journal Entry

Adapting to Change

How to Thrive in a Changing Environment

the journal entry | October 2020

Mission,Vision,Values Mission The UACPA leadership supports and challenges members through advocacy, professional education, leadership development, networking, and community service to help them succeed in a competitive and changing world.

ExecutiveBoard president...................................................... Jay Niederhauser president-elect.................................................. Stacy Weight vice president................................................... Ray Langhaim treasurer.........................................Aubrey Bickmore Neeley secretary............................................................ Troy Runnells member-at-large.................................................. Nate Staheli

Vision

member-at-large.................................................Katrina Baird

At the UACPA, our vision is to be a world-class professional association essential to our members.

immediate past president...........................Monica Gardner

emerging professionals............................... Katie Chandler aicpa council........................................................... Paul Skeen ceo.......................................................................... Susan Speirs

We unite a vibrant community of CPAs to enhance the success of our members and champion the values of the profession; integrity, competency, and objectivity.

UACPAStaff

ceo.......................................................................... Susan Speirs

Values

communications/marketing and

Advocacy

cpe manager.......................................................April Deneault

The UACPA represents the profession at the legislature and other regulatory bodies and promotes the value of the CPA to employers, the business community, and the public at large.

editor of the journal entry......................... Amy Spencer financial director...................................................Tom Horn membership development................................Tyler Hodges

Leadership & Service The UACPA provides leadership and service within the profession, within the UACPA, and within the community.

Professional Development The UACPA supports and encourages continuing education and leadership development.

Professional Community The UACPA reinforces peer accountability to encourage members to maintain integrity and high ethical standards. â&#x20AC;&#x2039;â&#x20AC;&#x2039;It provides member-to-member networking opportunities and networking opportunities with other professions. It values belonging to a distinguished organization and believes that we serve as the primary resource and point of contact for Utah CPAs.

Diverse Population Outreach The UACPA believes in reaching out to under-represented populations, those returning to the profession or choosing it as a second career, and other professions.

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The Journal Entry is published quarterly by the UACPA 136 S. Main Street, Suite 510 Salt Lake City, UT 84101 phone: 801-466-8022 email: mail@uacpa.org web: www.uacpa.org

UACPA Statement of Policy CPAs have common problems and interests. This magazine has been created to share information relating to the practice of accounting. The opinions, views and articles expressed in this magazine are not necessarily those of the Utah Association of Certified Public Accountants. 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. Because of the complexity of tax laws and accounting transactions and the changing status of the law, as well as variations in practices and procedures among accountants, information in the magazine should not be used, acted or relied upon, as a substitute for independent accounting or legal research and advice.

Contents October 2020

New Members.......................................................................................... 4

Feature Story

Adjusting to the New Office

Movers & Shakers................................................................................... 5 CEO's Message........................................................................................ 6 President's Message............................................................................... 7

Resetting Normal ................................................................................... 9 By the Numbers: Working From Home ............................................ 11 A Journey of Change............................................................................ 12 Remote Auditing.................................................................................... 14

By the numbers

Working From Home

Hackers Love Your House................................................................... 16 Mental Health in a Pandemic.............................................................. 19 Tales From the Quarantine Life.......................................................... 20

Fueling With Your Daily Essentials..................................................... 23 Government Transparency.................................................................. 24 Guardian Angels ................................................................................... 26

Meet a Member

Daniel Frei, CPA 33

2020 Award Winners............................................................................. 28 Meet a Member: Daniel Frei, CPA....................................................... 33 Meet the UACPA Board........................................................................ 34 News from the Board............................................................................ 35 Meet the UACPA Staff........................................................................... 35 Photos: Centennial Party...................................................................... 36 Comic: Generally Excepted.................................................................. 37 Fall CPE Schedule.................................................................................. 38 Member Benefits/100% Membership Firms.................................... 42 Contact List/Classifieds....................................................................... 43 In Memoriam.......................................................................................... 43 the journal entry | October 2020

NEW MEMBERS Congratulations to the following individuals who were approved for membership or affiliate status in the UACPA as of August 31, 2020. Michael Acord KPMG LLP

Jeffrey Heath Charli Telford Heath & Company CPA, LLC Orbit Irrigation Products Inc.

Benjamin Jones Austin Potoae

Dean Anderson Centry Advisors

Zachary Herlin Deloitte & Touche LLP

Idaho State University Josh Egbert

Damon Anderson Ivanti Inc

Matthew Hill Katherine Hutchings Zackary Rogers Karson Schultz Tanner LLC

Duncan Bagley BDO USA, LLP

Rebecca Beck Scott Jones Adams & Petersen, CPAs, LLC Woodside Group, LLC Monica Christensen UMB Fund Services

Tyler Kirkham Sweet Candy Company

Hayley Dahlhauser

James Larsen Staker Parson

Melvin Darton Melvin R Darton CPA PC Steven Day Jeffery Clark Day Clark CPAs Lorie Dudley YWCA Utah Paula Eldredge Military Installation Development Authority Lindsay Green Dominion Energy Joshua Hale The Church of Jesus Christ of Latter-day Saints Greg Harper Ernst & Young Carson Marsh BetterBody Foods & Nutrition LLC 4

Joel Littleford Deloitte Tax, LLP

Cory Weeks State of Utah - Div. of Finance

STUDENTS

Brigham Young University Hayden Gunnell Yuanpei Jiang Jonas Kurihara Yaneth Carrera Matthew Layden Corrine Richter Madison Millett McKay Jones Jacob Blotkamp Blake Walker Tyson Lindley Grant Wright

Dixie State University Ally Thompson Sarah Ence Stanley Rosander Mikey Haug Stephen Marshall Collin Dowdell Syracuse City Halle Lee Gavin Graff Callie McDaniel August Wood SVB Capital Taylor Earnshaw Fatima Mariscal Cindy Morris Braden Nelson Intermountain Healthcare Hailee Nelson Ian Imes Shawna Rasmussen Breahna Carroll Summit Financial Inc. Devin Radmall Kole Richins Jess Rudd Julia Faaiu UTOPIA Fiber Logan Genduso Andrew Basile Kevin Smith Koden Hunt Eide Bailly, LLP Riley Ferwerda Aspen Chournos Kathryn Smith Adams & Petersen, CPAs, LLC Kasen Hatch Raymond Thompson

Cathy Lummus Greg Thornton Young Living Essential Oils

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Southern Utah University Clayton Gillins Ashley Wardle Josie Bushar Becky Halliday Stevens-Henager College Ashley Lawson Lisa Yonker Justin Simons Tracy Nunnery University of Utah Kirstin Reese Zoe Machara Weston McCloy Jennifer Yakumo Isaac Campbell Zachary McCauley Bonnie Barlow Angel Gonzalez Patrick Hart Gaven Hansen Nariko Ruiz-Murillo Jennifer Kennedy Utah State University Casey Burgin Utah Valley University Camille Klemetson Mark Brown Randall Keller Amanda Atkinson Tanden Abplanalp Marc Smith Cameron Bodily Chase Oliverson Camille Klemetson Freddy Lopez Marcus Andrew Buenviaje Hyrum Portlock

Richard Perryman Jackson Haymaker Ellen Holdstock Ashley Greer Curtis Owens Samuel Arrington James Nuttall Matheus do Egito Pereira dos Santos Robert Avila Hayley Hortin Jesse Washburn Brayden Arnold Kevin McHenry Henry Anderson Parker Pearson Hannah Leon Brendan Fristrup Spencer Lehr Juan Patino Tayler Anderson Weber State University Ana Vidal Jeffrey Fowler Lexie Fisher Hanna Fillmore Brandon Myers Angela Otasua Clare Wandrey Shaunte Martinez James Hansen Austin Taylor Western Governors Rebecca Channell Ronnie Jessup Sarah Ellis Catie Woolard Whitney Black Kimberlyn Scott Dane Vigen Jonathan Leissler Alicia Verham Betty Spangler Taylor Vercillo Raylene Ray Nancy Dow Bridget Ross JaCoiya Hall Shante Dorin Alexandria Wensil Heather Tosh Brooklyn Reber Tara Churchill

Andrea VanEaton Lacey White Shameka Young Caila Vargas Teresa Unzner Jeremy Smith Matthew Butterfield Jessica McLean Mary Jackson Merrilee Toliver Suprina Espallargas Issai Diaz Stefanie Yourex Chris Jones Anthony Jenkins Valencia Golden Jonathan Ward Meredith Harwell Jessica Guay Alexis Caputo Christine Walker Jolene Teague Elizabeth Lauber Robert Brager Sakib Jamil Caimin Jimenez Johnna Royston Jenetta Brown Dellany Knighton Chad Tilley Jennifer Willis Juana Mitchell Jennifer McLean Brittney McCraw Shanna Nadarajah Trevor Schumann Maria Cardenas Jessica Haltom Jonathan Emerson Mohamed Youssuf AnDrea Foster

Michelle Campbell Shannon Valdez Cynthia Hoyte Trevor O'Neil Amanda Huff Laura Mercado Lauren Rowbotham Fahimul Hasan Kwame Acheampong

MOVERS & SHAKERS Blake Christian, a tax partner at HCVT, was named among the Top 25 National Opportunity Zone (OZ) Influencers Overall and a Top 25 OZ Tax Specialist at the June OZ Expo Tax Conference. Blake was one of four CPAs who made both Top 25 lists. Blake opened the Park City HCVT office in 2014. Chicago-based firm BDO USA LLP has acquired the Piercy Bowler Taylor & Kern CPAs (PBTK) Salt Lake and Nevada offices. Nine partners and about 60 employees will be joining BDO. Dave Peterson from Haynie & Company has been recognized by Accounting Today as a 2020 Managing Partner Elite. The list represents the profession's most outstanding firm leaders. Dave joined Haynie & Company as a college intern in 1975 and in his 15 years as the MP, the firm has merged with 19 other firms and nine sole practitioners, expanded from one office to 14 and has grown both staff and revenues by 700%. Hal Rosen, CPA is a Top 100 ProAdvisor for 2020. Each year, Insightful Accountant recognizes the Best in QuickBooks. This is Hal's fourth time as a Top 100 ProAdvisor. Under his leadership, Haynie & Company answers the accounting and tax needs of small businesses. Inside Public Accounting (IPA) has recognized Haynie & Company as both a Top 200 Firm for 2020 and a FastestGrowing Firm. Haynie & Company ranked 152 with 15% growth over 2019. The Top 200 includes firms with $20 $40 million in net revenue. Share your news! Send a press release or email to Amy Spencer, as@uacpa.org.

Westminster College Lindsey Steensma Cassie Campos the journal entry | October 2020

CEO'S MESSAGE

Susan Speirs, CPA

here is no going back! COVID-19 has not only been disruptive to every aspect of life, it has also created a big reset. Technology has played a crucial role in keeping our society functional and more transactional during a period of lockdowns and quarantines. These technologies will have a long-lasting impact beyond the pandemic. Below are some lessons we’ve learned while navigating the reality of COVID-19 and weaving the implications into our work, family, environmental and social lives. •

Remote work is real and it’s here to stay. We’ve heard from many of you, that working from home is mandatory, at least through the end of the year. We’ve heard that office spaces will be shrinking as employers have discovered that employees can be just as productive, if not more productive, working from home. As a side note, how many of us have purchased stand-up desks?

•

Health and personal safety are paramount. Have you noticed that we don’t shake hands anymore? Pandemic policies are popping up everywhere and being changed frequently as we move through the different phases of the pandemic. In the beginning, policies conveyed information on what to do in the event of a pandemic; now we’re word-smithing preventative measures. Who knew that you may have to quarantine yourself 14 days after returning from vacation?

•

Caring, listening and empathizing have become a priority. Because we’re not surrounded by our colleagues and peers as we were six months ago, we’ve discovered how important our relationships are with each other. On July 8, we had our Centennial birthday party at our office, pandemic style. UACPA members were happy to socialize, even if only for a short time, as we had time slots to maintain social distancing. I loved the sincerity of our members as they shared the challenges they were having during this time and some of the ways they were combating loneliness and isolation. the journal entry | October 2020

•

We can move fast and come together. This has been a time of courage, collaboration and action. Teams have been built in organizations so that businesses can continue to operate.

•

Leadership matters. As CPAs, we’re all leaders in one way or another. This is our time to shine, and shine we are! We have put into place an infrastructure that will protect the health and well-being of our staff, clients and employees. We also continue to strategize about the revenue model and how that model contributes to workplace safety with continuity while offering sound ethical policies to employees. We maintain balance between financial decisions that must be made and the human element that ultimately has consequences.

I hope that as you peruse through this issue of The Journal Entry, you will ponder how you’re faring and how you can help others. If we’ve learned anything, it’s that the human dynamic is integral in everything we accomplish. n

PRESIDENT'S MESSAGE

Jay Niederhauser, CPA

am an avid backpacker. The arrival of my monthly issue of Backpacker Magazine is the highlight of my month. Some 20 years ago, I met Mark (Mad Mark, to those that know him well). Since then, he has drug me to the tops of mountains, to the depths of slot canyons, and many places in between. I particularly enjoy 50-mile trips because, inevitably, there will be opportunities to prove that you can do hard things when you really don’t have a choice. We did a 50-miler in the Wind River Mountains of Wyoming last week and, true to form, we had the opportunity to struggle a little. OK, it was only 38 miles, but the rule is that you get a bonus mile for every year of age over fifty, so for me, anything over 35 miles is a 50-miler! We were not aware that the week before, a storm with winds up to 100 miles per hour had blown over thousands of trees, blocking the trail for about seven miles beginning at the trailhead. It was pretty slow going as we started out, and we found ourselves lost several times as we attempted to go around the massive piles of downed trees. Fortunately, we were not alone — other groups had preceded us and had attempted to mark the best way around and through the debris. We made it through and went on to enjoy a great trip. On the way out, we were pleasantly surprised to find that Forest Service crews had successfully cleared the last two miles of trail. On another trip several years ago, we found ourselves 25 miles in with a fellow hiker who developed pneumonia. We spent two days carrying his pack and literally dragging him out. It is amazing what can be done when you work together. These are troubled times. Not only are we dealing with the effects of the pandemic, but on top of that, people have lost their homes and loved ones to wildfires, hurricanes, floods, and windstorms. At the same time, we are dealing

with riots and political unrest. The magnitude of stress and anxiety is unprecedented in our lifetime. The message that I want to share is that we don’t have to deal with it alone. There is no shame in asking for help and assistance. As we deal with our own challenges, let’s look around and see what we can do to lighten someone else’s backpack and, by so doing, we can find solace from our own struggles. In a recent Deseret News editorial, Boyd Matheson quoted an interview with Rabbi Lord Jonathan Sacks who, in speaking of the changes we need to make in our society, said that we need to move "from a social contract, which invites us to think about what we can gain, to a social covenant, which invites us to think about the impact we can have on others.” It is not necessarily the great heroic things that make a difference. Sometimes, it is the small acts of silent, selfless service to someone in need that makes all the difference. Just to say, “I am aware of your challenges, and I care about you” is often all that is needed. Together, we can do hard things. n

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Thriving in Dark Times

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thriving in a changing environment

RESETTING YOUR WORK-LIFE BALANCE

Three Key Trends for Adapting to a New Working Environment By Eric Greene, CPA, CMA, CIA, CFE

ne night, after about six months of working from home, my wife jokingly commented as I was answering some emails before bedtime, “Are you working from home? Or are you sleeping at work?” After a quick laugh about the absurdity of our lives while dealing with COVID-19, my wife’s comment left me thinking: What does the future of remote work hold for all of us? How do we adapt to these new hard trends that are increasingly resetting what we know to be normal? As CPAs engage in more remote work due to COVID-19, the world and our profession are changing as a result of this “mass experiment.” Facebook has said that half of its employees may be working remote within the next 5 to 10 years. Square, Twitter, Zillow, and Shopify have informed their employees that they can continue working from home forever. Accounting firms and professionals are not immune from these new hard trends, either. Large accounting firms, such as PwC, are predicting that most of their employees will continue to work from home in the future, with “no set expectation of a number of days in the office.”

These trends are not only affecting accounting, but also various knowledge workers. Slack recently performed a study of remote work by industry — surprisingly, accounting and finance knowledge workers have more of a suitability for remote work, though they are among several other industries who are similarly impacted. The question remains: What must we do to adapt to the changing workforce and way of doing work?

Recently, a global study was performed by The Adecco Group to better understand the change in working environment views triggered by the COVID-19 pandemic. In a survey of thousands of officebased employees, managers and C-suite executives from various locations, Adecco reviewed old and new attitudes and behaviors from recent working trends, revealing the following important insights that will impact how all of us work going into the future. I believe that as CPAs and

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as accounting professionals, we must adapt to these three trends if we wish to be successful in the coming years.

1. The accounting profession is ripe for hybrid working

Due to the flexibility required by current challenges that the world is facing, CPAs are growing more accustomed to the flexibility of working remotely. As such, CPAs may continue to seek flexible working conditions, both in work schedules and location. According to the study, 82% of U.S.-based respondents agree that employees will benefit from increased flexibility. In addition, 74% of workers responded that a mix of remote work and officebased work is the best way forward. Between eliminating commute times and allotting more time for family and personal priorities, hybrid working may assist with more work-life “integration” that is likely to occur in the future. Fortunately, it’s not only employees who see the benefits. According to the study, 77% of executive managers believe that firms will greatly benefit from allowing increased flexibility through remote work. Concurrently, 79% of executive managers see that employees will positively benefit from having increased flexibility.

2. The 9–5 schedule is drastically shifting to less rigid working times

The move to remote work has led firms to consider lessening restrictions about what should be normal working hours. Based on the recent study, 75% of employees think it is important that they retain flexibility over their working hours and schedule, as long as they are showing they can meet deadlines and be responsive to questions and issues when they arise. Additionally, 78% of employees say that feeling trusted to get the job done is very important, where the “time at a desk” is no longer determined as a primary indicator of productivity and contribution. While working from home, many employees have adjusted their working schedule according to their natural “flow” of productivity with different time spent for various personal or family obligations. But despite an unconventional timetable (as many of us can personally attest), leaders are still seeing 10

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results, leading many firms to believe this flexibility should become normalized in the long term. In fact, the study affirms that 67% of respondents believe employers should revisit the length of the working week and the number of hours that employees are expected to work. This may go against what we know and believe about what work looks like as CPAs and accounting professionals, but these changes can be credited to the betterment of work-life balance, which has employees focusing more on output rather than hours.

3. Prioritizing mental well-being is essential

It may not come as a surprise that 28% of respondents to the survey noted that their mental health has been getting worse during the pandemic. Understandably, current emotional pressures, social isolation, and other recent issues have had a major impact on mental health. While 54% of leaders state it’s difficult to provide effective advice to staff on their mental well-being during the pandemic, similarly, 50% say it’s difficult to remain aware of how their teams are feeling. Due to these new circumstances, emotional intelligence is the new “gold standard” and matters more now than ever before. As such, leaders should focus on being collaborative, positive, empathetic, and supportive to their teams and organizations.

With other remote priorities like digital upskilling for a remote workforce and leading with trust, I believe by meeting the new trends we can be more successful in leading our teams, helping our organizations, and living more healthy and balanced personal lives. Good luck to each of us in resetting normal! n

Eric Greene, CPA, CMA, CIA, CFE, is the director of financial reporting at ZAGG and is an alumni of both the UACPA and the AICPA Leadership Academy. Eric holds two master’s degrees from Westminster and two bachelor’s degrees from the University of Utah. Eric serves currently on both UACPA and AICPA committees.

By the

NUMBERS

These numbers reflect a U.S. Remote Work Survey of 120 U.S. company executives and 1,200 US office workers between May 29 and June 4, 2020, conducted by PwC.

WORKING FROM HOME

72%

Workers who would like to work remotely at least two days a week

43%

Employees who felt like their productivity stayed the same while working from home

44%

Executives who believe their employees have become more productive while working from home during the crisis

55%

Executives who now expect to offer employees the option to work remotely at least one day a week

30% Executives who anticipate they'll need less total office space in three years, primarily due to remote work

50%

Executives who anticipate an increase in office space due to longer-lasting requirements for social distancing or growth in their workforce

https://www.pwc.com/us/en/library/covid-19/us-remote-work-survey.html the journal entry | October 2020

A JOURNEY OF CHANGE Stay Afloat by Adopting These Three Rules By Mackey Smith

’ll cut to the chase, 2020 has been a rough year for a lot of people out there. Millions of people are facing health, financial, work, social, and family challenges that once seemed improbable. It may feel that we are in a state of constant change. Growing up a Seattle Seahawks football fan in the '90s, I am reminded of watching the season opener and hearing my family say, “Well, this isn’t our year.” I think we can all collectively say that, in many ways, this has not been our year here in Utah. In spite of the challenges, this doesn’t mean that we cannot make 2020 a year that we look back on with gratitude. As a profession, we have been told for years that change is inevitable, and that automation and disruption are around the corner. Current events have highlighted that fact more than ever. Even organizations that were once proactive and future-oriented have fallen by the wayside. (I don’t see anyone requesting to be my friend on Myspace these days.) In a world that is clearly changing at an ever-accelerating rate, what should we do as individuals to embrace change and not feel left behind in whirlwinds of the future? From my very personal experience, the following can help you to stay afloat: • Accept What You Can and Cannot Control • Choose Self-Care • Contribute Where You Can

Accept What You Can and Cannot Control

These times have caused many to feel that they are losing control over their everyday lives. Many individuals are unemployed or don’t feel the financial freedom they enjoyed last year. Parents must watch their children adapt to a school program that accommodates this current pandemic. Social butterflies, such as myself, yearn for human connection, but must settle for yet another virtual meeting where half the people have their cameras turned off, and at least one participant is presumably in the kitchen making a sandwich while the rest of the group discusses how to increase employee engagement. With so much change that is out of our control, it is crucial that we remember those things that are within our control. Before I elaborate, I’d like to get a little personal by sharing the most difficult chapter of my life thus far. It was five years ago this month. My father’s opioid addiction had caught up with him, and he was no longer in the picture. I was a college football player, and learned that I had a defect in my hip that required major surgery, essentially ending my athletic days. My best friend, and the person whom I thought was my soul mate, decided that she didn’t feel the same way and ended things. Then the unthinkable happened — doctors diagnosed my mom in Los Angeles with a severe brain tumor and told her she would need months of radiation therapy. The fact that all of this happened within a month caused me to feel powerless at best, and utterly depressed at worst. Many of you reading this article are going through

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Journey of Change unimaginable difficulties. The continually changing world does not help as you seek a moment of quiet before facing another grueling day. Recognize what is out of your control but remember that you still have control over several important facets of your life.

Choose Self-Care

One area that you can control is that of self-care. Just when I felt hopeless amidst my trials five years ago, I learned of the miracle of therapy. My therapist helped me accept what was truly out of my control and identify areas of my life I could still influence and change for the better. I religiously did my physical therapy exercises, discovered meditation, and called my mom every day during her cancer treatments to tell her I loved her and that I was proud of her. These little means of self-care helped me survive each day. It was far from easy, but over time, things began to improve. My hip was no longer in pain and I gained an appreciation for what my unsuccessful, romantic pursuit taught me. Most importantly, my mother fought like hell, and today is happy and healthy. Perhaps working from home has begun to take its toll, or maybe the blue light from staring at your screen during Zoom meetings is causing headaches. Whatever your hurdle, I believe the actor Jim Carrey said it best: “I believe depression is legitimate. But I also believe that if you don’t exercise, eat nutritious food, get sunlight, get enough sleep, consume positive material, surround yourself with support, then you aren’t giving yourself a fighting chance.”

Contribute Where You Can

It is normal to see the changing expectations of clients and coworkers and think, “Am I really up to the task of evolving my organization?” This can cause us to place an unhealthy burden on ourselves to be something that we are not. We then find ourselves so focused on if we can lead the change in our organization that we don’t take the time to ask if we should. Back to therapy. In one session, my therapist had me conduct an exercise where I pictured each of the

members of my family sitting around a table. She then asked how I would seat them. I proceeded to give her a very intricate and strategic seating arrangement to ensure that my father, mother, and three older siblings were seated in a way that would avoid conflict with one another. After five minutes explaining my rationale, she asked me point blank, “Isn’t it exhausting putting all this on your shoulders?” It was at that moment that I learned a valuable lesson on boundaries and understanding what my roles really were. It was not my job as a college student to try and save my parents’ marriage. Instead, my job was to leverage my love and zeal for life and offer each of my family members a friendship if they desired it. This lesson applies to adapting our businesses and ourselves to the changing landscape of the world. Perhaps you are not savvy to emerging software and technology. Perhaps you are not in authority to launch a new service line or adjust your pricing model. Remember, you do not have to be the driver of change within your organization, but you do have to facilitate that change to occur and encourage and empower others to unlock that change. No one expects you to save the day, but contributing where you can goes a long way (that rhymes!). I cannot promise when or how things will normalize. In certain ways, they never will. However, I can promise that the little things can go a long way, and that there are indeed brighter days ahead of us. With the gift of hindsight, our current struggles will one day be seen under a more complete light. Enduring all those years of disappointment watching my beloved Seahawks struggle made their eventual Super Bowl win in 2014 even more worth it. For my life, I no longer look back on my difficult chapter with bitterness or resentment. I instead look back and appreciate the lessons I learned and the perspective and empathy I developed. n Mackey Smith is a senior strategy consultant at Tanner LLC and is working with the UACPA's strategic planning commitee. He graduated from Brigham Young University with a bachelor's degree in strategic management, summa cum laude.

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AUDITING IN A COVID-19 ENVIRONMENT The Only Constant is Change By Daniel Bringhurst, CPA

t Larson & Company, one of our core values is â&#x20AC;&#x153;Deep change is constant. Deep change comes from changing ourselves, not others.â&#x20AC;? While this statement rings true for me, 2020 has solidified the importance of this value more than ever. It has been a year which has challenged the status quo of the accounting profession, allowed for growth and improvisation, and served as a preview into the future of the profession. These challenges have impacted nearly every industry, and public accounting has been no exception.

Remote Auditing

The concept of remote auditing has been practiced by some auditors and auditees in various industries for a while but has been forced into large-scale adoption due to the ongoing pandemic. With travel restrictions, public health mandates, and other local government responses, the traditional face-to-face audit of the past is no longer possible for most organizations. These limitations initially led to the question of whether a fully remote audit would be permitted under the professional standards. The quick answer to this question is yes, if all parties have the necessary technology infrastructure in place. Auditors must continue to be mindful of the relevant auditing guidance, ensuring that they are obtaining sufficient appropriate audit evidence through a remote auditing environment.

Changes to Auditor Tools

COVID-19 has drastically changed the status quo for auditors and the way they are accustomed to operating. Historically, working in an auditing department at a public accounting firm has included things like working around a conference table, whiteboard discussions, banter with co-workers about sports and other topics, and having the ability to interact with clients face- to-face on a daily basis. One of the primary tools used to replace these things is video conferencing through services such as Zoom, Microsoft Teams, and GoToMeeting. While these services cannot entirely replace the value of face-to-face interaction, they have been a valuable tool for auditors and other professions during this pandemic. During the pandemic, we have all likely heard screaming children, dogs barking, and other embarrassing things you might not ordinarily see from a standard conference room setting. Personally, I have enjoyed getting to work and collaborate with colleagues in a more personal setting than what we are used to in the profession. Having this opportunity to learn more about a colleagueâ&#x20AC;&#x2122;s hobbies, family, remote schooling challenges, etc. in a home setting has increased a sense of teamwork and contributed to positive camaraderie with fellow co-workers during these difficult times.

Impact on Teams

One of the unforeseen challenges that auditors have

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Remote Auditing seen due to COVID-19 is the impact on their teams. More specifically, the impact that a lack of face-to-face interaction has had on teams. It is easy to take for granted the value of seeing your colleagues each day, engaging in water cooler discussions, and helping each other during difficult days. What can be done to overcome this? I believe a good place to start is taking the initiative to stay involved in the lives of your coworkers. Previously this might have been stopping by their desk to say hello. Now, this will more likely involve a phone call or Zoom call, or simply sending a message to check in and see how they are doing.

Maintaining Productivity

During the early days of the pandemic, one of the challenges that was commonly expected was how to make sure our teams are staying productive? Now that we are several months into the pandemic, the results observed have been mostly successful in both public accounting and other industries as well. This success has led many business owners to consider adopting large-scale remote working environments as a part of their post-pandemic operations. One popular concept used to maintain productivity for remote employees is Scrum. The framework of Scrum was initially used in the software development industry but can be utilized in any industry that focuses on project management. This methodology includes the following five primary events: sprint, sprint planning, daily Scrum meeting, sprint review, and sprint retrospective. One aspect that is particularly helpful for remote teams is the daily Scrum meeting. These are short 15-minute meetings where each member of the team reports on what they did yesterday, what they plan to do today, and any obstacles they need assistance with. The concept is simple but can be very effective in making sure teams are maintaining productivity, are accountable for their responsibilities, and are resolving challenges in a timely manner.

Evolving Risk Environment

Through the course of the pandemic, businesses in nearly every industry has had to adapt and find ways to continue operations successfully. Management at these companies has had to change longstanding processes, perhaps more than once, to continue operations as their employees

and customers change physical locations. All this change equates to modifications in the risk assessment, both internally and for the auditors. Auditors will now need to gain a greater understanding of how internal controls were operating pre-pandemic and during each phase of the pandemic. While solving operational issues will certainly take immediate priority, it remains critical for management and other stakeholders to identify and mitigate the new stresses this may put on the risk assessment of their organization.

Technical Audit Impacts

Continuing operations successfully has likely been the highest priority task at your organization, and rightfully so, as fighting to stay in business has been top of mind for all of us. However, eventually there will also be reporting considerations to think through when it comes time to issue the financial statements. Some of these considerations include going concern, subsequent events, risks and uncertainties, accounting for debt forgiveness or other government assistance, and the potential for scope limitations. Most of these conversations are typically rather unenjoyable, however, they are inevitable and required to be considered by management and the auditor. If you have not done so already, best practice would be to start these discussions now to avoid any surprises down the road. Many of us are still adjusting to the lasting effects of COVID-19. With all the negative changes from the upheaval of 2020, there are still several positive changes to remember. Learning to be more agile as a company and adapting to a rapidly changing environment are vital skills for businesses to move forward. Deep change is constant, and hopefully we will all feel more prepared to face it in the future. n

Daniel Bringhurst, CPA, is an audit senior manager with Larson & Company, PC. He has more than seven years of experience in public accounting. He graduated from the University of Utah in 2014. Daniel enjoys golfing and spending time with his wife and children.

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s a result of the COVID-19 pandemic, working remotely has opened new potential access points and vulnerabilities that hackers are exploiting. CPA firms are already prime targets for identity thieves, and these new vulnerabilities exacerbate the professionâ&#x20AC;&#x2122;s cyber-related challenges.

HOME IS WHERE THE HACKER IS Remote Work Creates Opportunities for Hackers By CAMICO

Since April 2020, 13 CAMICO policyholders have reported data breaches that in aggregate resulted in the hackers filing over 300 fraudulent income tax returns through the CPAsâ&#x20AC;&#x2122; tax software. Now, more than ever, data security is an urgent concern for the accounting profession. Clever hackers have many ways of exploiting accountants facing tax filing deadlines, especially when firms have outdated software, vulnerable email systems, and inattentive employees. As the sophistication of hackers and other cyber criminals increases, so do the types of threats and the number and scope of data breaches. CPA firms are not alone in facing a surge in ransomware attacks on businesses and institutions, ranging from small and medium-sized entities to large organizations. For example, Michigan State University and the University of California at San Francisco have both been victimized, according to media reports. MSU opted not to pay the ransom demanded, a decision that culminated in personal information and financial documents being published online. UCSF opted to pay a $1.14 million ransom demand in June to recover malware-encrypted data. A June cyberattack also brought Honda car manufacturing to a halt around the world. Cyber experts have been scrambling to provide security for businesses employing thousands of employees now working from home. With employees connecting from a variety of locations and devices, suspicious activity is difficult to monitor, creating more opportunities for hackers to launch attacks. Ransom amounts demanded by hackers have also been increasing.

Take Action Now

It is critical that firms be extra diligent to follow established security measures and safeguards. Remind all employees of the importance of strict adherence to security protocols and established safeguards.

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security Although not meant to be all-inclusive, the following basic best practice measures are extremely important and should be prioritized: • Ensure all software has the latest security options/ patches. This will help protect against malware, viruses, and hacker attacks. • Frequently back up all important data and information and verify your backups. Regular backups reduce the likelihood that critical data is lost in the event of a cyberattack. Protect the backups in a remote or external location, outside of your network, where they are safe from ransomware that seeks out backup copies. Periodically verify that your data backup process is working properly to assure that your data will be recoverable if a crisis occurs. • Change and strengthen passwords frequently. Systems are only as secure as the passwords used to access them. • Use two-factor authentication. This can add an extra level of security to help prevent an account hack, especially when employees work remotely. • Slow down to avoid being yet another “phishing scam” victim. Take the time necessary to validate suspicious or unexpected email. And do not click a link, pop-up or attachment without first hovering your cursor over the link to display the URL to assess its legitimacy. If there is an urgent call to action, rather than clicking on a link, consider a different way to validate the request such as speaking with the sender to get verbal confirmation that the communication is legitimate, or visiting the purported sender’s URL. • Maintain strong work-from-home cyber hygiene. Reinforce with employees the cyber protocols to be followed when working remotely (e.g., machine use restrictions, WiFi passwords, VPN, firewalls, etc.) • Remind all employees of the importance of powering down computers when not in use. Computers are not accessible to attacks or intrusions when powered off.

Next Steps — Review and Update the Firm's Information (Data) Security Plan

The IRS requires tax return preparers to comply with the

Gramm-Leach-Bliley Act’s (“GLBA”) Safeguards Rule, which establishes minimum requirements for protecting sensitive client data. One such requirement is to have in place a written Information (Data) Security Plan (“ISP”), and to periodically review the effectiveness of the program and reassess the risk factors as well as any material changes to the firm’s operations. Periodically assessing the appropriateness of your security measures and safeguards, given any changes that you may have had to your firm’s operations, as well as any changes to potential internal and external security risks, are critical steps to ensure your firm’s overall cyber preparedness. Set aside some time to review your firm’s safeguards and make changes necessary to ensure that you have the right measures in place to protect your clients’ information. Special attention should be given to ensure that your firm continues to prioritize appropriate firm-wide cybersecurity awareness training. Your scheduled training may have been interrupted due to the pandemic, or the training may require updating to address perceived pandemic-related threats to your existing protocols and infrastructure. In addition, review and enhance, if necessary, your firm’s incident response plan. There is no substitute for taking appropriate cybersecurity precautions, but it is also important to plan for the worst and have in place a comprehensive incident response plan. Note that a firm’s efforts to comply with the GLBA Safeguards Rule is an organization-specific initiative. As such, CAMICO recommends that each firm work with its IT/cyber specialists and legal counsel, as appropriate, to modify and tailor the firm’s incident response plan to ensure compliance with GLBA’s Safeguards Rule and other applicable laws.

Additional Resources Refer to the IRS website for detailed guidance at https:// www.irs.gov/identity-theft-fraud-scams/identity-theftinformation-for-tax-professionals. You can also refer to the IRS Publication 4557, Safeguarding Taxpayer Data, for additional guidance. This publication details critical security measures that all tax professionals should have in place. n For more information about CAMICO visit camico.com.

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wellness

THE PANDEMIC AND MENTAL HEALTH Resources Are Available for Other Health Concerns

By Scott Czaja, CPA

ou can hardly go a day without seeing a report on the internet, in the broadcast media or the traditional newspapers that does not discuss the effects of the COVID-19 pandemic and the mental health of our society. Jeff Marrott is the public information officer for the State of Utah Division of Substance Abuse and Mental Health. He reported that the increase in people seeking assistance with mental health issues has steadily increased since the pandemic was identified. Many nonprofits work specifically on issues such as anxiety, depression, substance abuse and suicide. This is at the center of their mission statements. These nonprofit agencies complement and work closely with state programs in this ongoing battle. The State of Utah Division of Substance Abuse and Mental Health has many free programs to assist the general public when trying to cope with these issues. The Salt Lake Tribune reported that researchers from the Centers for Disease Control and Prevention, Harvard Medical School, and Melbourne, Australia partnered with Qualtrics a Utah Company to survey about the mental health impact of the pandemic. The survey produced some interesting results. The survey said that 41% of all Americans had some sort of mental health symptoms. Men and women had similar numbers when dealing with anxiety and depression symptoms. For men, 30% reported symptoms of anxiety or depression, while 32% of women reported the same. More men turned to substance abuse than women — 14% to 12%. Men also considered suicide at a higher rate than women — 13% to 9%. The breakdown by age categories provides some interesting results. Individuals between the ages of 18–24 saw more mental health problems than those 25–44, who, in turn, saw more than those 45–64, with the lowest affected group being the elderly 65–plus.

The study also broke down people’s responses by income level. As people earned more money they became more insulated from anxiety or depression, caused by the pandemic. However, the incidence of substance abuse and suicidal thoughts increased with people earning higher incomes. The survey showed a similarity when it came to income levels and education. About 38% of people with a high school diploma had symptoms of anxiety or depression. The survey showed that 25% of people with a professional degree of some sort had symptoms of anxiety or depression. The worst job was not having a job at all. Those who were responsible for taking care of an adult at home in some way during the pandemic had the highest prevalence for mental disorder symptoms (56%), substance use (33%) and suicidal thoughts (31%). There’s also well-documented research indicating that, in general, the mental impact of anxiety over something bad that has yet to happen is often worse than the mental impact of the actual occurrence of the event. What should you do if you, or someone you love, is facing significant mental health consequences as the result of the pandemic? The Centers for Disease Control and Prevention has set up a site with resources, including hotlines with people to talk with, tips and tricks on lowering stress levels and more. n Scott Czaja, CPA, is a tax partner at WSRP, LLC where he specializes in nonprofit, pension, and profit sharing plans. He has more than 43 years of experience and is currently the treasurer of the Catholic Foundation of Utah as well as the Mountain West Mothers’ Milk Bank.

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am bringing a subjective view of what has transpired in my household during COVID-19, in hopes that it will remind you that many are going through similar experiences during this defining time. I am sharing what I have done to keep physically and mentally in tune with myself and others. It has been a roller coaster at times. Here is what I do when I am offline, trying to keep a buoyant spirit after I finish the online work.

STAYING WELL IN DIFFICULT TIMES Creating a List of Ideas to Maintain Healthy Habits By Jill Jasperson

My household expanded with five extra millennials during the pandemic. When COVID-19 hit, I knew my son, who was trying to obtain a work visa in China, would be here longer. Another child, who was working retail, went on unemployment, quit that retail job, and is currently working on getting a better job. Another son, who graduated in 2018, is working temporary jobs. Finally, another child finished a course in programming and is waiting to move with his wife to South Carolina. All kinds of outcomes with the same pandemic! What do I do to keep sane? I started a list.

Cleaning and Selling

I started cleaning. I had a garage area that needed to be tidied up, and we cleaned, sold or gave away items, power washed the area, and moved less items back in. Now, I am renting a portion of it. I cleaned out closets and areas of the house (since I had extra people living in the house) and gave items away for charity. It feels good donating clean clothes and extra household items that I am not using.

Exercise

I walk everyday now. The fresh air and beautiful Utah landscapes are part of my daily routine. I am close to American Fork Canyon and hike several times a week to Timpanogos Cave. Although the cave is closed, there are people on the trail every day. It is good cardio, hiking 1,100 feet to the top and back on a three-mile hike. Walk, run, cycle, swim or do what my friend does â&#x20AC;&#x201D; she competes in triathlons. Although she has not completed one recently because of an injury, she volunteered to help with one. The outdoors did not shut down, training has gone forward! My husband ran outside every day and did three half marathons. Several neighbors offered morning yoga or stretching classes in their yard. It was great to see everyone keeping active. Some, including me, even lost a bit of weight. Exercise is good!

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wellness

Eating

Our neighbors started an excellent garden with high fences so that deer cannot molest the fruit and vegetables. They are harvesting daily. Our garden is small, but we enjoy the fruits of our labors We also take advantage of the local fruit stands, and have honed our watermelon picking skills. I found myself cooking and trying more recipes. Call it the Corona aroma! What is your favorite recipe? Please share it! I have used new foods and new ways of cooking. I pickled my first jalapeĂąos and grilled pizzas on the BBQ. Amazingly, my taste buds are leaning towards more spicy food. However, do not forget the chocolate. I have dined-out with colleagues and friends. We did both take out and sit-down options once restaurants opened. It is nice to renew friendships after not seeing each other.

Health Checkups

Along with healthy eating and exercise, I have maintained health check-ups to make sure my teeth and body are sound. And I am about done with my Invisalign regimen as well; about four more weeks! We will not talk about the tray that I used for six straight weeks while I waited for the orthodontist office to open safely. But my smile has improved, and it is good to smile while you are waiting for things to change.

Sleep, Meditate and Turn It Off

Along with getting regular checkups, get plenty of sleep. I was exercising more, so my sleep became more regular. I maintain a regular time to go to sleep and wake up. Some of my children have not been as vigilant in keeping regular hours, and sometimes they are not happy about the result. After a well-rested night, remember to change out of your pajamas, dress and apply makeup. I have friends and family who meditate, and my neighborhood yoga teacher helped with this. If you have experience with meditation, please email me your stories! While hiking, one of our trail friends always has a thought for everyone who stops him. I learned more

about Eknath Easwaran, Buddha and Meister Eckhart in thoughts he prepares daily. Another hiker, who is 81, has blood cancer. When he talks, he has a smile and counts his blessings. What an example to all of us. Another suggestion for a healthy mental life, is to turn off your media and totally disconnect with distraction. It is good to divorce from your media to get a balanced life.

Play and Hobbies Play board games. Talk to my colleague, who collects board games as a hobby! Find David Przybyla's story on KSL.com. Play card games, or electronic games for short spurts of time. Golf is available in various forms (VR and the real thing). We recently spent time playing golf with a son and daughter in law. The best kind of time is playing with those you love or like to be around.

What Kind of Play Do You Do? Start or renew a hobby. I am taking more photos and using some for electronic backgrounds when I teach or meet with others electronically. I am proud of my Corona Arch picture taken in Moab, and plan to share with my students. My friend renewed her hobby of fixing up and painting. She enjoys the challenge of redecorating on a dime.

Be Creative and Find Hope Take breaks between projects to breathe and think. It will renew your energy and keep positivity up. My creativity for the last few months has been in creating a student course from scratch after I talked with friends and colleagues bouncing ideas off them. I am energized to come up with original assignments, quizzes and group discussions. Most of the group discussions are about COVID-19 scenarios. A friendâ&#x20AC;&#x2122;s husband became unemployed during the pandemic. He is a brilliant inventor with many patents to his name. Now, instead of work patents, he is thinking of ways to patent new gear shifting ideas for bicycles. A designer friend is creating new furniture for her living space. She is buying used furniture and using an old mantel piece to create a beautiful bookcase/fireplace area. Look forward to life by bringing hope back. Plan a trip,

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Monthly Wellness Web Series As the global pandemic has elevated concerns surrounding mental wellness, the UACPA has partnered with Dr. Terri Flint to bring you this webinar series to address the challenges we are facing in current times. Find these hour-long sessions under CPE when you visit uacpa.org.

Mental Health Series Ad

even if it is a small trip. We went to Moab for three days in May. It was rejuvenating. A friend with a large family purchased a state park pass for $100. Connect with a higher power as described in the twelvestep program. This program is helpful for anyone in any situation. Step two helps people come to believe that a power higher than themselves can restore them to sanity. Talk to loved ones, trusted colleagues and friends. Their presence, even electronic, can lift and give hope if needed. Never forget that you can contact a professional. There are online therapists and mental health workers who are proficient in helping during this hard time. Do not neglect your own mental health. Everyone has had a different Coronavirus experience: One of our kids had a baby on April 1. Although they are being careful with the infant, they are sharing fun pictures and it is nice to receive those pictures of love. Two of my nieces got married in two different states during this time period. For both women, only a limited audience could attend the wedding. We were sorry we could not go to either of the ceremonies, but we will connect later. My son has returned to China and our son and daughterin-law moved to South Carolina. Another child is on the cusp of a new job. Life goes on; people learn to be flexible. If you would like to share your story, please email me at jillj@uvu.edu. n Jill O. Jasperson is an associate professor of business law and ethics at the Woodbury School of Business at Utah Valley University. She enjoys traveling, exploring outdoors and reading good books.

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wellness

FUEL YOUR DAILY WELLNESS Establish Five Items for Your Daily Wellness Checklist By Dr. Terri Anne Flint

with myself and others, and when hard things come my way, I take them in stride.

These five items are on my daily non-negotiable self-care list. I label them as non-negotiable because they’re essential to my well-being. When my self-care consistently happens, my chances of being my best self are increased significantly. When they don’t, my energy is low, I’m easily irritated, and it’s tough to problem solve.

While we don’t have a self-care fuel gauge, we can look for signals that we’re running low. One tool is HALT. It’s the acronym for Hungry, Angry, Lonely, or Tired. By taking a moment (HALT) and asking ourselves if we’re feeling Hungry, Angry, Lonely, or Tired, we can address the problem directly, and quickly.

ine hours of sleep. A clean car, on the inside. Learn something new. Time to read. Diet Coke.

Many misunderstand self-care. They believe it refers to indulgence, pampering, or bonus time. But self-care actually refers to the fuel in our fuel tanks or the charge in our batteries. If you’ve ever been on the side of the road waiting for AAA to bring the gasoline can, you know that fuel is non-negotiable. You can talk yourself out of stopping at the gasoline station by thinking you don’t have time, or you can calculate your car has an extra five miles when the gauge shows empty, but ultimately when the fuel runs out, you stop. When we neglect our basic self-care, the same occurs, we stop; this may come in the form of headaches, chronic colds, or gastrointestinal problems. We become more vulnerable to anxiety and depression. Overwhelmed with stressful situations, we respond in ways we later regret. Curiously, when we’re low in genuine self-care, we turn to imitation forms of comfort that provide quick, but temporary relief. These fake forms give us a gallon of low-quality fuel, but we quickly find ourselves on the side of the road again. When was the last time your fuel tank was full? How did it feel? What difference did it make? For me, the real difference in having a full tank is my patience. I’m patient

Try This

Reflect on your essential self-care list. Commonly listed items are sufficient sleep, time alone, physical activity, and hobbies. But if you think about it, you probably have some unique items on your list. Two that I’ve seen that make me laugh are a daily dose of sports and having shaved legs! Once you have your list, share it with your spouse and invite them to do the same. By supporting each other in our non-negotiables, life really does get a bit easier. We have the fuel to focus on our goals, do daily tasks, face challenges, be creative, and be our best selves. “Self-care is giving the world the best of you, instead of what’s left of you.” –Katie Reed n Dr. Terri Anne Flint is a Licensed Clinical Social Worker with many years of counseling experience. She recently retired from Intermountain Healthcare as the director of EAP and employee wellness and is now in private practice.

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THE ACT OF ACCOUNTABILITY

The Front Line of the Government's Transparency Movement By the office of the State Auditor

n 2008, the Utah State Legislature directed the creation of a financial transparency website to allow the public to view general ledger detailed transactions for the State of Utah. Utah was on the cutting edge of what has become known as a “Government Transparency” or “Open Checkbook” initiative. Next, the Legislature expanded the system to include all large- and mediumsized local governments. This expansion created a new reporting requirement for local governments and a litany of technical issues to support more than 500 separate reporting entities, using various accounting systems with their own distinct charts of accounts. The system was designed to ingest one large file each month, but because it was now trying to upload hundreds of files each quarter, delays were starting to occur. Continuing its push for greater transparency, in 2015 the Legislature again raised the transparency bar (by lowering the reporting threshold) to include essentially all governmental entities, which included another 300 entities. Ultimately, after a decade without a significant upgrade, and an exploding dataset of millions of records, the user experience had become slow and often frustrating.

Upgrading the Experience

In 2019, the Legislature transferred operational oversight of the financial transparency website to the Office of the State Auditor (OSA). The OSA quickly went to work to find an upgrade solution. The goal was to significantly

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improve the user experience — both for those uploading data as well as those searching and analyzing the public financial data. We reviewed multiple commercial products designed to provide a government transparency platform. But most focused on a one-to-one experience between vendor and governmental entity. While this met the needs of many state governments, Utah was in the unique position of having a unified legacy system with the financial data for almost 1,000 entities — a one-stop shop for Utah citizens — something that other states could only dream of. As we attempted to integrate the magnitude of entities, it became clear that no viable commercial product existed. Adding to the challenge, the Legislature had not funded the upgrade. While our strong preference was a commercial turnkey, hosted solution, we knew the remaining option was to develop a custom solution, just as had been done a decade before. But many of us had witnessed various expensive failures when governments attempted custom software development projects Despite our strong reservations, we began. Perhaps having a state auditor with an extensive background in custom software development (and a strong vision for government transparency) as well as a knowledgeable team that understood the data and the desired upgrade, helped to guide us down the development path. We are happy to report our project is a success.

government

A New Transparent Utah Experience

We knew an improved user experience was critical â&#x20AC;&#x201D; significantly increasing speed and expanding convenience. We focused on the power of search, placing a search bar conveniently at the top of the page. Built on a powerful search engine and a restructured underlying database, within seconds users can locate employee compensation or vendor payment information across every entity in Transparent Utah. Those results may then be exported into a CSV-formatted file for further analysis in Microsoft Excel or other analysis tools. We also increased the speed of the detail transaction browser, allowing users to dive into the transaction details of a single governmental entity. Users may view all of the funds, departments, and accounts to identify aggregate amounts or individual transactions on a yearby-year basis. Lastly, we added some graphical displays and some reports of high interest topics, such as the top ten highest paid employees or top paid vendors.

STARTING your practice?

Your Expertise Is Needed

We invite you to take a few minutes to browse through Transparent.utah.gov. Find out how much the football and basketball coaches of our states universities get paid (by far the most popular search) or see how much a certain vendor got paid by your city. Then send us your feedback and suggestions. Share Transparent Utah with a coworker or friend. Good government requires each of us to help hold government accountable. n

The Office of the State Auditor provides Utah taxpayers and government officials with an independent assessment of financial operation, statutory compliance, and performance management for state and local government.

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HONORING A REAL GUARDIAN ANGEL The Legacy of a War Hero Reminds us That Freedom Comes at a Price By David Peterson

n October 8, 2002, Marine Staff Sergeant (SSG) David Wilson was getting ready to take his squad through a simulated urban assault on the island of Failaka in Kuwait. Failaka had been the site of a significant battle between Saddam Hussein’s Republican Guard and the Kuwaiti Army during the invasion of Kuwait in August of 1990. The island, located 20 km off the coast of Kuwait City in the Persian Gulf, was left largely in ruins after the invasion, so it was an ideal place for the 160 Marines to train for urban combat. SSG Wilson, concerned his live ammunition would get mixed up with the blank ammunition being used by his squad, dropped off his M16A2 rifle and his ammunition with Corporal (CPL) James Cottrell who was serving as the unit’s overwatch or guard. CPL Cottrell had just taken his squad through the simulated assault course and had relieved the Marines serving as guards so they could go to the beach to relax. Since this was a training mission, most of the Marines were unarmed or had blank adapters on their weapons making them unable to shoot real bullets. A few of the officers and senior non-commissioned officers carried 9mm Beretta sidearms. As SSG Wilson escorted his squad into the bombed-out schoolhouse they were using as a training site, he heard the unmistakable sound of AK-47 gunfire. He ordered his squad to hunker down, and he ran to the roof to see what was going on. When he got to the roof, he saw that a red and white striped Nissan pickup truck had driven onto the beach and two heavily armed jihadist terrorist had opened fire on a large group of unarmed Marines relaxing on the beach. He also saw CPL Cottrell, who was in possession of the only M16A2 rifle on the beach capable of shooting live ammunition, running straight at the truck, stopping and shooting as he advanced toward the truck. CPL Cottrell placed rounds in the tires, engine block, radiator, windshield, and drew the combined fire of the terrorists away from the Marines on the beach and onto himself. Captain Matthew Reid, First Sergeant Timothy Ruff, and Gunnery Sergeant (GySgt) Wayne Hurtz were in a tent playing cards when the shooting broke out. The three of them each had Beretta 9mm handguns with full magazines. As rounds started hitting all around them, they ran out of their tent to see where the gunfire was coming from. They saw the Nissan pickup truck and engaged. GySgt Hurtz said, “I remember only two things from that day: the sound of my flip-flops on the sand as I ran at that

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guardian angels he saved.” He continued, “It is my opinion, and I share this opinion with the 160 Marines who were on that Island on that day … CPL James Cottrell was the Marine’s first Guardian Angel.”

CPL James Cottrel protected his country and his men in 2002.

truck and, out of the corner of my eye, CPL James Cottrell, bobbing, weaving, and shooting his M16 in a hail of gunfire.” Between the four of them, they were able to stop the heavily armed terrorists from advancing further up the beach where additional unarmed Marines, including SSG Wilson’s squad, would have become easy targets. On October 10 2006, Lieutenant General Jim Mattis, who would later serve as Secretary of Defense to President Trump, signed Policy Letter 04-06. Policy Letter 04-06, known affectionately as the “Flat Ass Rules” or FARs (the Marines have an acronym for everything!), outlined a series of force protection measures designed to prevent surprise attacks. One of the key rules was the “Guardian Angel” rule which stated that, “a mature, alert, and trusted individual is hidden, watching over his unit’s security in an ambush mentality. Whether he is armed or unarmed, he must have a means to convey a threat (sound the alarm) to his security.” I had never heard of Policy Letter 04-06 until SSG Wilson, who is now serving as Sergeant Major (SGM) Wilson, the senior non-commissioned officer for the 3rd Marine Aircraft Wing in Miramar, California, told me about it. My discussion with SGM Wilson, up to that point, had been rather light-hearted but when SGM Wilson told me about the Guardian Angel rule, he got very serious. He said, “Sir, that policy memo was signed almost exactly four years to the day after the attack on Failaka Island. That is no coincidence. General Mattis knew what happened on Failaka Island. He knew what CPL James Cottrell did on that island and the lives

On August 25, I spoke at James Cottrell’s funeral. James died suddenly, on August 4, while visiting his biological family in Panama. His adoptive sister and I, with the support of more than 200 people through a GoFundMe campaign, spent three weeks repatriating his remains to the U.S. so he could be buried with full military honors next to his father and brother at the Camp Williams Veterans Cemetery. I grew up with James, and went to junior high and high school with him. He was the Orem High School Class of 1992 Student Body Vice-President, was one of the best wrestlers in the state, and was our high school mascot. He served in the Marine Corps from 1997 until 2005 and deployed overseas four times. At 5’2”, he earned the nickname “Pocket Hercules” and he was the toughest “nice guy” I knew. He fought in Operation Iraqi Freedom I and during his second tour in Iraq, he fought in the Second Battle of Fallujah, which proved to be the bloodiest battle of the Iraq war and the bloodiest battle involving American troops since the Vietnam War. His unit lost 33 men during that second tour, and James would suffer from severe PTSD and survivor’s guilt for the rest of his life, but he never gave up and never stopped fighting. He was my friend, and he died a true hero. Obviously, this article is a significant departure from what you’ve come to expect from your lobbying team, and I thank the UACPA staff for allowing me to share James’ story. As we head into the election season, please consider the service and sacrifice of my friend and remember that our freedom and the preservation of our rights comes at a cost. Freedom Is Not Free. Semper Fi. n

David Peterson is a partner and attorney with Peterson Consulting Group. He received a B.S. degree from Brigham Young University, his J.D. from the University of Toledo, and his LL.M. from The Judge Advocate General's Legal Center and School. He has served on Active Duty and with the Army National Guard for more than 20 years and currently holds the rank of Major.

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his year's annual awards banquet went virtual for a first-of-its-kind, at-home event. The video is available to watch on the UACPA YouTube page. Award winners were selected by nominations through the UACPA website and by members of the awards committee. The 2020 award recipients honored include the following:

MEET THE 2020 UACPA AWARD WINNERS Congratulations to this year's award recipients

Distinguished Service Weslee Anne Klein, CPA Weslee served as president of the UACPA in 2001 and continues to volunteer with Leadership Council. Recently retired, Weslee says she greatly enjoyed her time in the accounting profession and has loved working with all clients. She had mentors from staff, managers, reception, administration, partners and all the way to the corner office. She credits them for the success she has achieved.  Jeannie Patton Lifetime Service Award Lynne N. Ward, CPA Lynne served as the executive cirector of my529 for 15 years. She previously served as Gov. Walker's deputy chief of staff and Gov. Leavitt's director of the Governor's Office of Planning and Budget. She is currently a board director of Merit Medical, Inc., and a member of the Investment Advisory Committee at the University of Utah as well as the Utah Chapter National Association of Corporate Directors, and the Walker Institute of Politics and Public Service. Outstanding CPA in Business & Management Daniel K. Greer, CPA Dan received his undergraduate and graduate degrees in accounting at the University of Utah's David Eccles School of Business. After graduating in 1996, he spent the next 11 years with Tanner LLC.

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2020 awards The next seven seven years were spent as the CFO for a Salt Lake-based software development company. For the past six years, Dan has served as a director and controller for the Philanthropies Department of the Church of Jesus Christ of Latter-day Saints. Outstanding CPA in Public Practice Boyce W. Coombs, CPA Boyce was a partner of Caldwell, Coombs & Foley, LLP until the practice was sold in 2014 to Crossroads Accounting Professionals, PLLC. Boyce was part of the Vernal firm since 1980 and has served the UACPA as a Uintah Chapter president. He graduated from Utah State University in 1977 with a bachelor's in accounting. He enjoys giving back to the community by serving on various local governmental agencies, boards of directors, and in many religious callings. Outstanding CPA in Nonprofit & Government Christine B. Arthur, CPA Christine has served the nonprofit community for 36 years. She retired from public accounting in April 2020 and is now affiliated with Pathway Associates, a firm offering a variety of consulting services to the nonprofit community. Most recently, Christine was a partner and director of the nonprofit services group of Larson & Company PC. She was previously the founding partner of Arthur & Jensen, LLC and a director at CBIZ. Christine was a founding member of the United Way of Salt Lake Women United and officer of the board of YWCA Utah. She has chaired the Utah Nonprofits Association board and was a co-founder of the Nonprofit Academy of Excellence at the University of Utah. Additionally, she has developed curriculum and has taught classes at the University of Utah and Westminster College. She has served on the UACPA Nonprofit Committee.

Outstanding Leadership Council Member Dustin Wood, CPA Dustin is an audit shareholder with Cook Martin Poulson, P.C. where he has worked for 15 years. In addition to serving as the Cache Valley Chapter president and on Leadership Council with the UACPA, Dustin serves on three nonprofit boards. He was born and raised in Cache Valley and graduated from Utah State University with a master's in accounting. Outstanding Educator Michael D. Blackburn, CPA Mike is a shareholder in the law firm of Blackburn & Stoll, LC where his practice focuses on estate and income tax planning and issues affecting small business. He is a past president of the UACPA and served five years on the Council for the AICPA and eight years as a member of the Utah Board of Accountancy. He is a frequent instructor who has taught more than 1,300 professional development courses in 48 states in the last 30 years. He has won the AICPA's Outstanding Instructor Award. Since 2002, Mike has been an adjunct faculty member of the David Eccles School of Business at the University of Utah and has been a professor of tax law for Westminster College since 2013. Rising Star Devron C. Johnson, CPA Devron is an audit senior associate at Eide Bailly. He graduated from Southern Utah University as the valedictorian for the school of business and was the recipient of the 2019 Eide Bailly Utah Rising Star Award. He has worked with the UACPA's Emerging Professionals Committee for two years.

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Lifetime Member Chesley H. Erickson, CPA, CGFM Chesley began his career with Touche Ross & Company as a staff accountant from 1994 to 1997 before joining Huber Erickson & Bowman, LLC as a partner. He retired in 2019 after 23 years with the firm. He has been active with the UACPA and recently served as the chair of the UACPA PAC. Chesley served as president of the United Cerebral Palsey of Utah and Oakridge Country Club and has been a financial consultant to several other nonprofits.

Lifetime Member Lynn A. Gilbert, CPA Lynn began working part-time at his father's CPA firm in 1983 while he was in college. He graduated from BYU with a MAcc in August 1985 and was licensed soon after. He spent 28 years at Gilbert & Stewart, CPAs in Provo before serving as a mission president in Korea. He purchased a business with his wife and son in 2019 and has enjoyed the change to "the other side of the desk." Women to Watch: Emerging Leader Kandice Lambert, CPA Kandice is a corporate controller, senior director at Lucid Software Inc. Prior to Lucid, Kandice worked in public accounting where she realized her passion for building accounting operations and infrastructure. Kandice graduated from the UACPA's 2015 Leadership Academy and has enjoyed mentoring up-and-coming CPAs at the University of Utah. In 2010, she earned the UACPA Rising Star Award.

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Women to Watch: Emerging Leader Amanda Barrett-Brough, CPA Amanda joined Squire in 2005 after receiving a Bachelor of Science from Utah Valley University and a Master of Accountancy from the University of Utah. She serves as Squire's audit practice area leader and works primarily in assurance services. She is a 2016 AICPA Leadership Academy graduate and leads Squire's Professional Services Industry group as well as the firm's Women Improving Professionally group. She worked with the AICPA Women's Initiatives Executive Committee (WIEC) to help them create women initiative resources for CPA firms. Women to Watch: Experienced Leader Mary B. Pearson, CPA Mary is the dean of the school of business at Southern Utah University. She earned her bachelor's in accounting and a master's of accounting from Southern Utah University and her Ph.D. in business administration from Northcentral University. Mary has taught internationally at two of SUU's partner schools in Austria for the past 11 years. Mary also has her own financial firm in Cedar City and has served on boards for Iron County School District, Beaver County School District, and Cedar City Corporation. She is currently the chairwoman for the Cedar City Planning and Zoning Commission and on the board of directors for State Bank of Southern Utah. n

Clients Need Their Trusted Advisor as Utah Responds to COVID-19

It’s a different world we’re working in. Paychex supports the efforts of UACPA members with resources and tools you can use to help clients navigate the complexities of getting back to business amid the pandemic. • CARES Act and Families First Coronavirus Response Act • PPP Loan Forgiveness Estimator • Business continuity plan Check out these and other resources at payx.me/uacpa-covid-19

Take advantage of the Accountant Knowledge Center, with its free online resources. • Updated daily news • State law summaries on compliance topics • Registrations for upcoming webinars Gain access at payx.me/akc Don’t forget: You can access AccountantHQ, a dashboard to manage all client data.

Paychex is proud to be an endorsed provider for the UACPA.

the journal entry | October 2020

LEADERSHIP RECHARGE Get a preview (or refresher) of the Leadership Academy experience at this two-day virtual workshop. This collaborative experience will boost your strengths-based leadership.

November 11 – 12 | 1 – 2:30 p.m. $100 for three hours of CPE | Discussion led by Dan Griffiths, CPA 3232

the journal entry | October 2020

MEET A MEMBER

Daniel Frei, CPA

an Frei, CPA is a CFO for the IT department in the State of Utah. The University of Utah graduate and Utah native has worked in state government for 18 years. Dan and his wife of 21 years have "six darling kids that keep us busy." Dan can be found behind the scenes planning and coordinating the annual conference.

WHAT LED YOU TO BECOME A CPA?

Way back in the days of Enron, WorldCom, and other financial scandals, these unfortunate wrongdoings gave me the spark to get my CPA later in life. I believe that we have a duty as CPAs to make sure companies and individuals are following financial code of ethics.

WHAT DO YOU ENJOY OUTSIDE OF WORK? With our six kids, we keep busy in their activi-

ties. We like to travel and also like to be outside snow skiing, water skiing, and exploring the great scenery of Utah.

WHAT WOULD SURPRISE PEOPLE TO KNOW ABOUT YOU?

My wife says my second calling in life is to be a travel agent â&#x20AC;&#x201D; I help others find great deals. Also, I am helping change the perception that accounting professionals are "boring." My kids say I am the fun parent going on adventures. In business and life, we should work hard and play hard.

WHAT IS ONE BOOK THAT HAS GREATLY INFLUENCED YOU?

As a senior leadership team in the IT department, we read professional books from time to time. We just finished reading "Five Dysfuntions of a Team" by Patrick Lencioni.

WHAT ARE SOME OF YOUR GOALS?

Professionally, I like fixing things that are not working to make sure an organization is as efficient as possible. Personally, I like to exercise daily.

TELL US ABOUT ANNUAL CONFERENCE.

We have a fantastic team that cares about getting quality educational opportunities for CPAs and other finance professionals. It is amazing to work with the incredible speakers and to work with the committee to make everything happen for two days in December. The networking with other professionals is another enjoyment of mine. Although this year will be our first time going 100% virtual, we will have a great conference.

WHAT ADVICE DO YOU LIVE BY?

"How are you going to pay for that?" "Do your best and forget the rest." "Don't look for recognition, but work to be recognized." "No one can help everyone, but everyone can help someone." n the journal entry | October 2020

MEET THE EXECUTIVE BOARD

What Has Been Positive During the Pandemic? Jay Niederhauser President

"We have been fortunate to be able to keep working through the COVID-19 period. We have been able to expand the services we provide to clients related to the PPP loans and other financial assistance. In the process, we have gained increased appreciation from our clients for what we do. We have benefited both financially and in client relationships."

Ray Langhaim Vice President "My days no longer begin at 5:15 a.m., and I still get my Orangetheory workout in. My wardrobe no longer requires dry cleaning, and I have implemented shorts into my dress code. Our finance group has been more productive in completing our monthly close faster and more accurately."

Troy Runnells Member-at-Large

Katrina Baird Member-at-Large

"At the beginning of the pandemic, it felt like I had a lot more time on my hands, but couldn’t do what I wanted. We decided to do too many remodel projects that more than filled up the free time. This pandemic has been an opportunity to re-prioritize what’s important to me and my family."

"A positive outcome, for me, has been watching the creativity in my company as it figures out how to allow 'on site' positions to work from home. I also love having meetings interrupted by children. It’s always comical. And I’m impressed with everyone’s patience level when this happens — especially when it’s my kids!"

Stacy Weight President-Elect

Monica Gardner Immediate Past President

"I am so excited about 'forced' innovation. The current circumstances have created a climate where innovation is not only necessary, but crucial to survival. This rapid change and growth is exciting to watch and I can’t wait to see what permanent changes will be made to the way we do business."

"I have a greater appreciation for my health and the health of my loved ones. This whole year has also been a good chance to reevaluate our preparedness for things like the earthquake and the pandemic. We have also spent more time outdoors and in our national parks, which has been great."

Paul Skeen AICPA Rep

"One positive outcome is remembering the importance of my personal and professional relationships. Life was stripped down to its most basic components. Very few things that were put aside were missed. Big gatherings with friends and family and day-to-day in-person interactions with co-workers and clients were definitely missed."

Susan Speirs CEO "The pandemic has given rise, at a much quicker pace, the ability to meet digitally, which has made for longer days. I’m learning how important it is to have some stress relievers. Who would guess that I would take up raising chickens? I love giving away the eggs and spending some much-needed time outdoors working in the yard while they free-

Not pictured: Nate Staheli (Member-at-Large), Aubrey Bickmore Neeley (Treasurer) and Katie Chandler (Emerging Professionals) 34

the journal entry | October 2020

BOARD BULLETS

News From the UACPA Board The following actions were taken by the executive board at the last board meeting. •

AICPA board nominations and names were discussed and submitted to the AICPA for positions on their board as well as AICPA Council members at large.

•

In a summary of the August State Board of Accountancy meeting, it was reiterated that CPE hours would not be extended for the December 31, 2020, reporting, as this is a statute change and would need legislative approval.

•

The board approved and an extension for the Peterson Consulting Group lobbyist contract for two years. We’re expecting tax reform will be a big topic coming into 2021.

•

The board approved that the UACPA participate in an amicus brief with regards to Utah residency issues and how the Utah State Tax Commission handles those who would argue they are non-residents.

•

The Awards Committee submitted names to be awarded at the September 24 awards ceremony to be approved. Voting was unanimous.

•

Discussion was held on social issues affecting our profession specifically, COVID-19, CPA Evolution, and the pipeline of students.

MEET THE UACPA STAFF

What Has Been Positive During the Pandemic? april deneault cpe manager "Now that we are back in the office, my commute is much smoother and there is not as much traffic. Another positive is how quickly businesses schools, etc. have had to adapt to change, and figure out how to work and learn from home, and they to will be prepared if anything like this happens in the future."

tyler hodges membership development coordinator "Family time was my highlight. Another was saving money on gas while not commuting and finding a great Thai restaurant close to home. The pandemic has been a learning curve, and now we are all a little more prepared. We know that we should stock up on toilet paper as it's the first thing to go!"

amy spencer marketing/communications "In my pre-pandemic life, I was constantly on the go. I have enjoyed having the chance to be at home, to organize my space and plan meals. It has helped me save my money and fixed some bad eating habits. It has been a good life reset for me. I'm not even mad about it."

tom horn financial director "From a personal standpoint, the pandemic has forced us to evaluate our personal lives. It has showed us that we can adapt to almost any situation. Although, some of my friends have expressed that their animals wish they would get out of the house and go back to work."

the journal entry | October 2020

Photos, Centennial Party UACPA members joined in a pandemic-style event on Wednesday, July 8 to celebrate the 100th birthday of the association. Thank you to the Centennial committee and those who celebrated in person, and at a distance with our party in a box.

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CONNECT WITH YOUR CHAPTER

find your next m

eeting at uacpa.o

rg/chapter

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UACPA Virtual Courses CPECourseSchedule

CPE

COURSE TITLE

INSTRUCTOR

VENDOR

NONMEMBER MEMBER FEE* FEE

OCTOBER 10/16/20

Accounting & Auditing Update for Small Businesses

Marty Van Wagoner

AICPA

$190

$345

10/19/20

Audits of 401(k) Plans: New Developments and Critical Issues

Curtis Quickel

Surgent

$290

$345

10/20/20

Construction Contractors: Critical Accounting, Auditing, and Tax Issues

Curtis Quickel

Surgent

$290

$345

10/21/20

Preparation, Compilation, and Review Engagements: Update and Review

Marty Van Wagoner

AICPA

$170

$195

10/21/20

Revenue and Cash Receipts: Common Frauds and Internal Controls

Marty Van Wagoner

AICPA

$170

$195

10/22/20

Annual Update for Controllers

Curtis Quickel

AICPA

$290

$345

10/23/20

Analytics and Big Data for Accountants

Curtis Quickel

AICPA

$290

$345

10/26/20

K2's Case Studies in Fraud and Technology

TBD

$290

$345

10/27/20

K2's Office 365 - All the Things You Need to Know

TBD

$290

$345

10/30/20

Interpreting the New Revenue Recognition Standard: What All CPAs Need to Know

Marty Van Wagoner

AICPA

$170

$195

10/30/20

The Bottom Line on the New Lease Accounting Requirements

Marty Van Wagoner

AICPA

$170

$195

11/5/20

Governmental and Not-for-Profit Annual Update

Roger Cusworth

AICPA

$290

$345

11/6/20

Real-World Frauds Found in Governments and Not-for-Profits

Roger Cusworth

AICPA

$290

$345

11/9/20

All-in-One Ethics (3 hours of ethics and 1 hour of Utah Laws & Rules)

Susan Speirs & Marty Van Wagoner

UACPA/AICPA

$99

$150

11/11/20

CFO/Controller's Roadmap to Success: Integrated Planning, Forecasting and Budgeting

Ron Kral

Surgent

$290

$345

11/12/20

Enterprise Risk Management for Small and Medium-Sized Companies

Ron Kral

Surgent

$290

$345

11/13/20

AICPA's Annual Federal Tax Update

Michael Blackburn

AICPA

$200

$345

november

11/16/20

Section 199A: Applications and Challenges

John Sherrik

Surgent

$170

$195

11/16/20

Section 199A: Schedule K-1 Reporting by Relevant Pass Through Entities

John Sherrik

Surgent

$170

$195

11/16/20

All-in-One Ethics

Susan Speirs & Marty Van Wagoner

UACPA/AICPA

$99

$150

11/17/20

Required Minimum Distributions: Compliance and Planning

John Sherrik

Surgent

$170

$195

11/17/20

Succession Planning for the Small Business Owner: Finding the Exit Ramp

John Sherrik

Surgent

$170

$195

11/18/20

Fraud Update: Detecting and Preventing the Top Ten Fraud Schemes

Anne Layne

AICPA

$290

$345

11/19/20

Forensic Accounting Investigative Practices

11/20/20

Annual Update for Accountants and Auditors

11/30/20

K2's Excel Financial Reporting and Analysis

the journal entry | October 2020

Anne Layne

AICPA

$290

$345

Marty Van Wagoner

AICPA

$200

$345

TBD

$290

$345

CPECourseSchedule

DATE

CPE

COURSE TITLE

INSTRUCTOR

VENDOR

NONMEMBER MEMBER FEE* FEE

December 12/1/20

K2's Best Word, Outlook and Powerpoint Features

TBD

$170

$195

12/1/20

K2's Advanced Quickbooks Tips and Techniques

TBD

$170

$195

12/7/20

Reviewing Individual Tax Returns: What Are You Missing?

Peter Towle

AICPA

$170

$195

12/7/20

Social Security and Medicare: Maximizing Retirement Benefits

Peter Towle

AICPA

$170

$195

12/8/20

Hottest Tax Topics for 2020

Peter Towle

AICPA

$290

$345

12/14/20

Accounting and Reporting for Not-for-Profit Organizations

John Georger, Jr.

AICPA

$290

$345

12/15/20

The New Yellow Book: Government Auditing Standards, 2018 Revision

John Georger, Jr.

AICPA

$290

$345

12/21/20

Reviewing Partnership Tax Returns: What Are You Missing?

David Peters

AICPA

$170

$195

12/21/20

Reviewing S Corporation Tax Returns: What Are You Missing?

David Peters

AICPA

$170

$195

12/22/20

Intermediate Individual Taxation

David Peters

AICPA

$290

$345

*Early-bird pricing available for classes when registering at least two weeks in advance. (Excludes 4-hour courses and core training courses). AICPA members receive an additional $30 off the price of each 8-hour course (excluding 4-hour courses and core training courses) where the AICPA is listed as the vendor. Use promo code AICPA8 for 8-hour courses.

CPE

Lunch Series

Earn CPE while you take your lunch break. Every month you will find a different topic for Tech Talks, the Lecture Series and the Business & Industry Series. Find one-hour sessions and register at uacpa.org.

the journal entry | October 2020

Nov. 17

UACPA Nonprofit Conference Time: 8 a.m. – Noon Location: Virtual Conference Cost: $50; $35 for members

Dec. 4

Accounting & Auditing Conference Time: 8 a.m. – 4 p.m. Location: Virtual Conference Cost: $250; $199 for members

Dec. 17 – 18

Technology Conference Time: 8 a.m. – 4 p.m. Location: Virtual Conference Cost: $450; $400 for members

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ALL IN ONE

ETHICS AND UTAH LAWS & RULES

Nov. 9 Nov. 16

1 hour of Utah Laws & Rules | Susan Speirs will walk you through one (1) CPE hour of the required learning. 3 hours of Ethics | Marty Van Wagoner will lead the course on "Ethics and Professional Conduct: Updates and Practical Applications" for three (3) CPE hours.

7:30 â&#x20AC;&#x201C; 11 A.M. ON ZOOM

$150; $99 FOR MEMBERS Register at uacpa.org

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Member Benefits

The UACPA Honors 100% Membership

Beehive Insurance

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 a commitment to lifelong learning.

The UACPA's Affinity Partners help you get the most out of your membership Groups with 2 to 100 eligible employees can participate in medical, dental, vision, telehealth and voluntary onsite programs through this plan. For more information, contact Todd Valentine at 801-743-7788 or tvalentine@beehiveinsurance.com.

National Affinity Service

Identity protection experts have you covered for $12.95 per month or $16.95 per month for a family. Visit healthwealth.fit/ uacpa_infoarmor.

CCH

UACPA members receive a discount on the U.S. Master Tax Guide and more. Visit cchgroup.com and use code Y3819.

Payroc

Payroc, a full-service payment processing company, makes it easier and faster for your clients to pay you, and can even eliminate the vast majority of the fees a firm pays for credit card processing. Contact Colby Poulson at 801-951-8110 or colby.poulson@payroc.com.

Camico

The Mutual Insurance Company offers UACPA members a variety of benefits. To learn more, call 800-652-1772 or email inquiry@camico.com.

Office Depot/Office Max

UACPA members can save up to 80% on office products, printing, technology and furniture. Visit officediscounts.org/ uacpa to learn more.

Paychex

Paychex, Inc., a leading provider of integrated human capital management solutions for payroll, benefits, human resources, and insurance services offers UACPA Members. For more info, visit Paychex.com/accounting-professionals. Learn more about member benefits by talking to Amy Spencer at as@uacpa.org or by calling 801-466-8022

the journal entry | October 2020

PUBLIC PRACTICE • CBIZ • Cook Martin Poulson • Davis & Bott • Eide Bailly • Haynie & Company • Hinton Burdick • Jones Simkins • PricewaterhouseCoopers • Savage Esplin & Radmall • Squire • Stayner Bates & Jensen • Tanner, LLC INDUSTRY • LDS Church Auditing Department Firms with 10 or more full-time CPAs are eligible to be a part of the 100% membership program. Learn more by talking to Tyler Hodges at 801.466.8022 or thodges@ uacpa.org.

ContactList Accounting Issues When UACPA members have questions about accounting issues, help is available from the UACPA Accounting Issues Committee. Each month, a member of the committee is assigned to answer accounting questions and help you interpret the rules as they apply to your particular situation. The following members may be contacted during the months listed. October

November

Ted Rokich 801-263-3090 trokich@fdic.gov

Mark Anderson 801-532-7800 markanderson@hayniecpas.com

In Memoriam Tubber T. Okuda May 10, 1928 – Aug. 12, 2020

December Mark Anderson 801-532-7800

CPA Auxiliary

markanderson@hayniecpas.com

CPE Approval - Does This Qualify? When UACPA members have questions regarding CPE approval and whether or not something may or may not qualify, they can turn to the UACPA CPE Approval Committee for answers. Each month, committee members are assigned to answer member questions related to CPE approval. Below are the members who may be contacted with your questions. October — November Steve Avis 801-532-7800 stevea@hayniecpas.com

Scott L. Robinson 801-990-5918 srobinson@tannerco.com

Elaine Langston Christiansen Aug. 11, 1927 – July 24, 2020

Classified Ads To place your classified advertisement and reach Utah CPAs, contact the UACPA at mail@uapca.org. Interested in Buying a Practice? See local and nationwide listings at www.APS.net and register for free email updates or call us at 1-800-397-0249. THINKING OF SELLING YOUR PRACTICE? Accounting Practice Sales is the leading marketer of accounting and tax practices

Tax Issues The Tax Issues Committee focuses on legislative and regulatory issues and does not answer technical questions. For assistance with a technical matter, please refer to the UACPA referral tool at uacpa.org. Direct questions related to legislative or regulatory issues to taxissues@uacpa.org.

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 risk-free and confidential services, call Ryan Pannell with The Holmes Group at 1-800-397-0249 or email Ryan@APS.net.

the journal entry | October 2020

UTAH ASSOCIATION OF CPAS

Nonprofit Org.

136 S. MAIN STREET, SUITE 510

U.S. Postage

PAID

SALT LAKE CITY, UT 84101

Salt Lake City, UT Permit No. 1996

ANNUAL

CONFERENCE DECEMBER 10 Virtual Conference 8 a.m. – 4 p.m. $350; $300 for members

the journal entry | October 2020

–

The Journal Entry - October 2020

Articles inside

Member Benefits/100% Membership Firms

Photos: Centennial Party

Guardian Angels

Meet a Member: Daniel Frei, CPA

Meet the UACPA Board

2020 Award Winners

Government Transparency

Fueling With Your Daily Essentials

Tales From the Quarantine Life

Mental Health in a Pandemic

CEO's Message

Resetting Normal

Remote Auditing

Movers & Shakers

Hackers Love Your House

By the Numbers: Working From Home

President's Message