WICPA 2022 - 2023 YEAR IN REVIEW

It was quite a busy year as we readjusted to finally coming back to some normalcy while adapting to the changes the pandemic brought.

One of the most significant adjustments was coming back to in-person activities and shifting and planning for the new norm of hybrid meetings and events. We also made significant progress on our new pipeline initiatives, defeated legislation that would have negatively impacted the CPA credential and profession and continued building relationships with agencies and legislators to make the WICPA and its members a key resource for business and tax issues in Wisconsin.

Advocacy

Advocacy promotes the profession and protects its credibility, and it is a powerful benefit of your membership. We’ve had success with advocacy efforts and continue to build valuable relationships with legislators, leaders and agencies. We have built relationships with several legislators who now come to the WICPA and our members directly for our input when introducing legislation that will impact services CPAs provide.

We created a new Legislation Review Committee to review tax legislation so we can provide input to legislators. The new committee comprises members from our Wisconsin Taxation and Federal Taxation committees. Most recently, the WICPA has provided input and had meetings on the proposed flat tax, tax-free retirement exemptions, the personal property tax elimination and the equalization of interest on over- and underpayments.

Over the last year, I have met with several key legislators as well as new legislators and the secretaries of the Department of Safety and Professional Services and the Wisconsin Department of Revenue (DOR), continuing to build and maintain relationships with both parties and key agencies that can impact our members.

As a result of our collaboration and relationship with the DOR, we were able to voice our concerns and recommend solutions regarding the print functionality of the DOR’s manufacturing assessment returns when they moved their system to the new My Tax Account earlier this year. The department listened and made it a priority to add this feature by Feb. 17, increasing efficiency and reducing the burden, time and cost that members and their clients would have encountered.

When the occupational licensing issue came up again this year, we held a meeting with members of the legislative Occupational Study Committee to educate them on the differences between professional and occupational licenses. We provided information on the substantial equivalency and reciprocity system CPAs have — which is working — and we suggested the committee focus on aspects of licensing in Wisconsin that are not working and use the system CPAs have as an example. Although we have not seen any new legislation proposed at this time, it will be coming — and we are watching.

The WICPA hired a new lobbying firm to provide enhanced services, strategies and monitoring and build positive relationships in both parties. The new lobbyists will assist with proposed legislation that could negatively impact CPA licensure, the exam and business in Wisconsin. They will also assist with passing legislation to improve the Wisconsin business climate, including tax law changes.

A new contribution form was designed to better articulate the two legislative funds that members are encouraged to support. Without this funding, we would not be able to support or defeat legislation. Thank you to those of you who have contributed and continue to contribute to our WICPA Campaign for Political Awareness (CPAC) and Legislative Involvement Fund (LIF).

Connecting

We continue to see the members-only online community — WICPA Connect — becoming a key resource for members to ask questions and share expertise on many topics. Similarly, the private communities our boards and committees use to share information also have been greatly utilized. Members are finding these tools to be very beneficial.

During the year, I was invited to give state and national updates to many of our CPA firms’ partners. The importance of these updates is underestimated, and many members are amazed when they learn what is happening and what the WICPA is doing for them and for the profession. I would welcome an invitation to meet or visit with any firm or organization that would like me to provide these updates.

CPA pipeline

The CPA pipeline initiative “Level Up With Accounting” is one I am most excited about, and it will be launching soon! As I mentioned in my last column, we added a new high school student membership; we will have new marketing materials as well as a high school and college online community, member videos (which also highlight diversity in the profession), and enhanced website pages that provide everything students and educators need to know about becoming a CPA.

We updated our new member kits and designed new WICPA T-shirts for new members and volunteers. We also purchased several new WICPA swag and promo items for our in-person events, to be given away to all attendees as well as to those who attend high school and college visits and career fairs.

With the return of the High School Educator Accounting Symposium, we were able to provide information to high school accounting and business educators about the profession, including a CPA panel representing different areas of accounting, a college educator panel and sessions on teaching innovation and the next generation of CPAs. The WICPA Educational Foundation also awarded $25,000 in accounting awareness grants for teachers to take their classes to visit with organizations and learn more about accounting through their CPA staff.

The Reading Makes Cents program is back for Financial Literacy Month in April and Money Smart Week, April 15–21. These financial literacy activities involve simply visiting one of your local elementary school (grades K–4) classrooms, reading a book to the class and discussing the basics of money and savings. The WICPA Educational Foundation provides everything you need: a money-themed book, a teacher/ parent guide and a gift for each student. Email Devin Yates at devin@wicpa.org to sign up today!

Diversity

The WICPA and WICPA Educational Foundation continued their 26-year partnership with and support of the Young Entrepreneurial Scholars (YES) program. The goal of the YES program is to expand opportunities for minority students and increase diversity in the accounting profession. We also partnered with the National Association of Black Accountants (NABA) and James Madison High School in Milwaukee to provide volunteers and mentors to assist with their Career Day and entrepreneur series. We have also developed relationships with Milwaukee Public Schools, and we are exploring how we can work together to bring accounting into the district’s classrooms. Several of our new videos will feature the topic of diversity in the profession, including one about the YES program.

Continuing professional education (CPE) and events

We were very excited to hold all our conferences and events in person this year! Our conferences were offered in person and as livestreams. Although we saw a decline in in-person attendance, the livestream and on-demand options continue to be increasingly popular.

With nearly 300 attendees, the Member Recognition Banquet last May recognized membership milestones with new awards for 25-, 40- and 50-year members and honored the Excellence Awards recipients. Our New CPA Banquet, held in June, was a hit with our newly licensed CPAs. The banquet featured casino-themed entertainment and a presentation by the CFO of Fear the Deer LLC — including a visit and photo opportunities with Bango and the Bucks championship trophy. In September, the annual golf outing exceeded expectations with a record attendance of 231 registrations. The outing was sold out in less than a month!

Our breakfast programs remained (and will remain) virtual so more can attend from around the state, but we kept the popular Individual Income Tax Update as an in-person event with livestream and on-demand options. We also offered more one-, two- and four-hour livestreamed seminar and webinar programs to continue the trend of shorter CPE increments with the ease of fitting CPE into members’ schedules and without necessitating travel.

I am grateful to our staff for their assistance as we navigate through initiatives and decisions; to the board members, who have supported us during these changing times; and to you, the members, for continuing your commitment to the profession by renewing your dues, donating to the WICPA Educational Foundation and contributing to our legislative funds — and for making these initiatives possible.