The WashingtonCPA Summer 2014

Summer 2014 Volume 57, Number 1

www.wscpa.org

washington

CPA

COSO Integrated Framework 2013

Impact of the DATA Act on CPAs

Announcing WSCPA Award Recipients

Revised AICPA Code of Professional ConductNew Personal Financial Planning Services StandardHow to Respond to a Comfort Letter Request

2 3WashingtonCPA Summer 2014 www.wscpa.org www.wscpa.org WashingtonCPA Summer 2014


www.wscpa.org • [email protected] Tel (425) 644-4800 • Toll free in WA (800) 272-8273

Fax (425) 562-8853 902 140th Ave NE

Bellevue, WA 98005-3480

BOARD OF DIRECTORS Heather L. Fitzpatrick Chair William A. Simer Vice Chair David J. Miniken Treasurer Lucy L. Liu Secretary Glenn G. Wisegarver Immediate Past Chair Richard E. Jones President & CEO

Laurie J. Anderson Marinilka B. Kimbro Thomas G. Donaghy Amanda V. O’Rourke Kirsten S. Duke Andrew L. Read Dean A. Granholm Abby M. Sanders Robert L. Grannum Joseph P. Smith Robert W. Heller

CHAPTER BOARD CHAIRS Craig S. Connell Bellevue Area

Alex R. King Central Molly Vander Woude Central Northwest Diane Bingaman Olympia Michael T. Enos Sammamish Valley Rachel T. Sites Snohomish County Dani L. Espinda South King County David P. Stubing Southwest Robert S. Plumb Spokane

Sean P. Kinney Yakima

Jeanette Kebede Editor

The WashingtonCPA is published by the Washington Soci-ety of Certified Public Accountants for its members. Views and opinions appearing in this publication are not necessarily endorsed by the WSCPA.

The products and services advertised in The Washington CPA have not been reviewed or endorsed by the Wash-ington Society of Certified Public Accountants, its board of directors or staff.

The WashingtonCPA (USPS 009754) is published four times annually by the Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue, WA 98005-3480. $12 of members’ annual dues goes toward a subscription to The WashingtonCPA.

Periodicals postage paid at Bellevue, Washington and additional mailing offices.

Cover photo: © Getty Images/Image Source

POSTMASTER: Send address changes to The WashingtonCPA, c/o WSCPA, 902 140th Avenue NE, Bellevue, WA 98005-3480.

DEPARTMENTS

CPAwa s h i n g t o n

4 Leadership Lens14 News Briefs22 Advocacy28 Foundation32 MemberBenefits33 Events

35 CPE Digest39 Conferences44 Registration Form45 ClassifiedAds47 Profile

Contents

6 An Auditor’s Use of the ‘New’ COSO (Integrated Framework - 2013) Standard When the Auditor Does Not Intend to Rely on Internal Control

10 Understanding the Impact of the DATA ACT on CPAs

12 New Competency Framework Strengthens CGMA Value

17 2013-2014 WSCPA Annual Awards

23 Now Available: Revised AICPA Code of Conduct

24 How to Respond to a Comfort Letter/ Third-Party Verification Request

26 New Personal Financial Planning Services Standard: Does It Apply to You?

28 Washington CPA Foundation Awards $59,000 in Scholarships

CONTENTS


LEADERSHIP LENS

Raising the Bar on Audit QualityBy Rich Jones, CPA, CGMA, President & CEO

The accounting profession is a bit unique in its structure. Many, perhaps even most, of the func-tions performed by CPAs do

not require a license. These functions include tax preparer or advisor, business consultant, expert witness, CFO or con-troller for a company, accounting faculty at a college or university, financial advi-sor, CEO, sales executive, etc. The list could go on and on. And even though you do not need a CPA license to per-form these services, once you have a CPA license you must perform those services in strict conformance with the AICPA Code of Conduct or state Code of Con-duct if more restrictive. So what services require a CPA license in order to per-form them? Very simple: A CPA license is required in order to perform audit and attest services. As many people have observed over the years, audit and attest services then are the “franchise value” for CPAs, i.e. it is the one thing that only CPAs can do.

Another interesting aspect of the CPA profession is that, for the most part, it has been allowed to be self-regulating. With the exception of audits subject to the jurisdiction of the Securities and Exchange Commission or the Public Company Accounting Oversight Board (and the number of these audits is miniscule in comparison to the number of audits of private companies), the accounting and auditing profession in the United States is a self-regulated profession. And the structure for this regulation is in large part through the operations of the American Institute of Certified Public Accountants (AICPA) and their close collaboration with many other groups of regulators [particularly the National Association of State Boards of Accoun-tancy (NASBA) and individual state boards of accountancy].

For more than three decades the AICPA has been engaged in protect-

ing the public through its Peer Review Program that monitors firms’ audit and attest services. The program was devel-oped to be educational and remedial so that firms could improve the quality of their audit and attest work. That is still the principal goal of the program today. Over the years, state boards of accountancy recognized the effectiveness of the peer review program in helping firms perform higher quality work and most states now

require that any firm doing compilations, reviews, audits, or attestation work be engaged in the AICPA Peer Review Pro-gram and have a review conducted by a peer organization every three years.

Except for the largest firms, the Peer Review Program is administered by state societies and their volunteers, although the actual peer reviews are performed by qualified CPA firms who are engaged by the firm being reviewed. For the past two years I have had the privilege to serve on the Peer Review Board, a group of 20 individuals who have the overall responsibility to operate and oversee the program. This has been a tremendous learning opportunity for me and it has prepared me to appreciate some of the changes the program will be making in order to better meet the needs of the profession and the public going forward.

Barry Melancon, CEO of AICPA, recently announced the launch of a new Enhancing Audit Quality (EAQ) initia-tive, to be headed by Sue Coffey, AICPA Senior Vice President of Public Practice & Global Alliances. In his announcement,

Barry described this initiative as follows: [This is a] comprehensive, holistic effort to look at auditing from multiple touch points, from the CPA exam and ethics enforcement to auditing and quality control standards, to learning and competency development and changes to peer review, and ultimately to a transformation of practice moni-toring. The cornerstone of our EAQ initiative involves near and long-term changes to the Peer Review Program. This summer we will release a discussion paper that will highlight the AICPA’s plans and perspectives on moving forward. I am excited to engage in a dialogue and work together to address this profession-wide audit issue. Let’s pave our own path and take the continued journey to improving audit quality and maintaining audit relevance.

I applaud the AICPA and the Peer Review Board for their vision and cour-age in recognizing the opportunity and need to enhance audit quality and the peer review program. Public polling of business decision-makers and investors continually confirms that CPAs are still the most trusted group of advisors. The public trusts us to do a good job and to put the interests of the general public above our own. In large part, that trust is based on our role as auditors of pri-vate and public companies. We must be continually vigilant to make sure that the quality of the audit and attest work we perform is up to those expectations. The Peer Review Program has success-fully served this function for several decades. I am confident that the changes being evaluated for the short and long term will result in raising the bar on audit quality, which is very good for all CPAs and the public.

Rich Jones can be reached at [email protected].

The AICPA recently announced

the launch of a new Enhancing

Audit Quality (EAQ) initiative.


LEADERSHIP LENS

The Value of MembershipBy Heather Fitzpatrick, CPA, CGMA, WSCPA Chair for 2014-15

From time to time, someone will ask me what I get out of my involvement in the WSCPA. After all, I’m the only CPA in a small,

management consulting firm, and my accounting expertise is applied chiefly to management accounting issues in a strategic planning context, not financial reporting or tax compliance.

“Isn’t the WSCPA for public accoun-tants?” people will ask.

My answer is unhesitating: No. It’s for CPAs – a designation that I’m proud to hold. And with the WSCPA’s expand-ing support for the growing number of CGMAs in Washington State, of which I am also one, the organization is becoming increasingly important to my success.

Why is the WSCPA critical to my suc-cess as a CPA and a CGMA?

The best explanation comes from a comparison of the benefits the WSCPA offers to members and the new CGMA Competency Framework, which offers a well-researched analysis of the knowl-edge requirements and skills required for management accountants to become and remain trusted business strategists within their organizations.

The CGMA Competency Framework identifies four core areas of knowl-edge required to excel in a manage-ment accounting environment: technical skills, leadership skills, business skills and people skills.

As a CGMA’s career progresses, the emphasis shifts. For example, mastering technical skills is more important to indi-viduals who are just starting their careers, as it was to me as a new professional in public accounting. However, as a person’s career progresses, business and people skills become more important. Ulti-mately, leadership skills are required for executive-level success. The Framework was developed to help CGMAs and their employers assess what skills and devel-opment opportunities are appropriate to

each CPA’s career path. (For more on the Framework, see the article on page 12.)

Compare the four sectors of the Com-petency Framework to the benefits of WSCPA membership, and you’ll see that regardless of where you are on the con-tinuum, from staff accountant to CFO, the WSCPA provides resources and opportu-nities to CGMAs looking to become even better at what they do professionally.

The WSCPA is well-recognized for the exceptional quality of its technical training programs. As the only CPA in my com-pany, the WSCPA’s CPE classes, webcasts and webinars are an invaluable means of ensuring that I am applying accounting and finance skills appropriately. But the WSC-PA’s contributions to my technical knowl-edge extend beyond CPE. The WSCPA’s Washington CPA magazine and e-news-letters help me keep on top of pending

changes in technical areas that affect me. And that’s just the start. The WSC-

PA’s expanded CFO series, access to speakers with specialty knowledge, and the ability to learn from peers and professionals outside of our profession while at conferences, such as the Not-for-Profit Conference, have allowed me to substantially deepen my understand-ing of the business context in which my company and my clients operate.

But the greatest opportunities at the WSCPA actually provide members with the opportunity to develop the last two knowledge areas: people skills and leadership skills. There are classes, of course, but in my experience, the best teacher for these skills is experience. As an executive with hiring respon-sibilities, I am always surprised how

continued on page 21


COSO INTEGRATED FRAMEWORK

This article will provide an over-view of the COSO Integrated Framework – 2013 (2013 revi-sion), issued by the Committee

of Sponsoring Organizations (COSO) of the Treadway Commission (Treadway Commission or the COSO Committee). The Integrated Framework – 2013 docu-ment is an update of the original Integrated Framework – 1992. The 2013 revision reflects a principles-based approach to professional standards, and has been updated to reflect enhancements to, and in, the original fundamental concepts, now referred to as principles. Additionally, this article specifically addresses the role that the 2013 revision plays in an audit con-ducted in accordance with U.S. Gener-ally Accepted Auditing Standards (GAAS) when the auditor does not intend to rely on internal control.

What is the Internal Control – Integrated Framework 2013?

The Treadway Commission was cre-ated in 1985 to identify those mat-ters that may indicate the presence of fraudulent financial reporting in audited financial statements. While other study groups, prior to the creation of the COSO committee coined the term, it was output from this study, conducted by the COSO committee, which gave rise to a condition described as the “expecta-tion gap” in auditing. This term formally recognized a fundamental difference in perception between what auditors (actu-ally) do in the course of providing audit services and what users of those audited financial statements believe auditors do in the course of an audit conducted in accordance with GAAS. This study was a prime motivating factor in the compre-hensive re-write of auditing standards, often referred to as the expectation-gap SASs [Statements on Auditing Standards (SAS) Nos. 53 – 63, effective for GAAS audits beginning in 1990] by the Auditing

An Auditor’s Use of the ‘New’ COSO (Integrated Framework - 2013) Standard When the Auditor Does Not Intend to Rely on Internal ControlBy Gary Hotchkiss, CPA

Standards Board of the American Insti-tute of Certified Public Accountants.

One of the expectation-gap SASs, Statement on Auditing Standards No. 59, Consideration of Internal Control in a Financial Statement Audit, established a requirement that auditors obtain, and document, an understanding of certain aspects of their client’s internal control system for the purpose of identifying risk (now referred to as “risk assess-ment”), and determining the role that internal control would play in the audit plan for risk reduction. One of the

implied requirements of this standard was a determination of whether the client had an adequate system of inter-nal control (regardless of the formality of that system). Shortly after this Standard became effective, auditors realized that, while there were numerous non-authori-tative writings on aspects of an adequate system of internal control, there was no standard, generally accepted, definition of what constituted an adequate system of internal control. Without a common ref-erence point, there was no objective way for auditors to evaluate the adequacy of a client’s system of internal control. It was this lack of a common standard that led to the COSO committee’s study that

resulted in its issuance of Internal Con-trol – Integrated Framework, in 1992.

The content of 1992 version of Inter-nal Control – Integrated Framework has been the standard benchmark for what constitutes an adequate system of inter-nal control since its issuance. This rules-based framework (standard) defined internal control through the use of three discrete internal control objectives (cat-egories), which equate to reasons why an entity would go to the cost of developing and maintaining a system of internal con-trol. Those objectives are for the purpose of monitoring:

1. Operations, 2. Financial Reporting, and 3. Compliance with laws and/

or regulations

Beneath each of the aforementioned objectives, the Framework defined five “components.” Distributed throughout each of the five components were 21 “fundamental concepts” which amounted to potential sources of risk, due to defi-ciencies in either design or effectiveness at the component level:

a. Control Environment, b. Risk Assessment, c. Control Activities, d. Information and

Communication, and e. Monitoring

This three-objective, five-component framework has stood as the benchmark used by auditors to evaluate the ade-quacy of internal control systems used by client entities in the United States.

How does the 2013 version of the Framework differ from the original 1992 Framework?

The 2013 version of the Integrated Framework essentially recasts the 1992



Framework from a rules-based approach to standards into the international, converged,x“clarity”xprinciples-based approach to professional standards. The 1992 Framework, while rules-based, was produced in a format that very closely resembles the standard format for prin-ciples-based standards in that it:

1. Begins with objectives2. Is followed by components

that apply to each objective and, within each component, there appears specific guidance referred to as

3. Fundamental concepts (closely akin to “application guidance” as used in principles-based standards)

While the end result of the 2013 version of the Integrated Framework is deceptively similar to the 1992 Integrated Framework, the differences, while subtle, are significant. At the most fundamental level of difference, rules-based standards stress compliance with rules and mini-mize the exercise of professional judg-ment by those subject to that standard. Principles-based standards, on the other hand, minimize (eliminate) the prom-ulgation of rules in the standard-setting process, and maximize the exercise of professional judgment on the part of those who will apply, or evaluate compli-ance with, the objectives of that standard. The 2013 Integrated Framework has also been “refreshed” to reflect symmetry with terminology used in other current professional standards.

The 2013 Integrated Framework retains the same three objectives and five components as the 1992 Framework. The fundamental concepts (now referred to as “principles”) have been reduced from 21 to 17. The components and principles, as currently defined are as follows:

Control Environment (tone-at-the-top or entity culture)

1) The organization demon-strates a commitment to integrity and ethical values

2) The board of directors demonstrates independence from management and exercises oversight of the development and performance of internal control

3) Management establishes, with board oversight, structures, reporting lines, and appropriate authorities and responsibilities in the pursuit of objectives

4) The organization demon-strates a commitment to attract, develop, and retain competent individuals in alignment with objectives

5) The organization holds individuals accountable for their internal control responsibilities in the pursuit of objectives

Risk Assessment (identification)

The organization:6) Specifies objectives, with

sufficient clarity, to enable the identification and assessment of risks relating to objectives

7) Identifies risks to the achievement of its objectives across the entity, and analyzes risks as a basis for determining how the risks should be managed

8) Considers the potential for fraud in assessing risks to the achievement of objectives

9) Identifies and assesses changes that could significantly impact

the system of internal controlControl Activities (policies and/or procedures)

The organization: 10) Selects and develops control

activities that contribute to the mitigation of risks to the achievement of objectives to acceptable levels

11) Selects and develops general control activities over technology to support the achievement of objectives

12) Deploys control activities through policies that establish what is expected and procedures that put policies into action

Information & Communication (processing of data)

The organization: 13) Obtains or generates and

uses relevant, quality informa-tion to support the functioning of other components of internal control

14) Internally communicates information, including objectives and responsibilities for internal control, necessary to support the functioning of other components of internal control

15) Communicates with external parties regarding matters affecting the function-ing of other components of internal control

Monitoring

The organization: 16) Selects, develops, and performs

ongoing and/or separate evaluations to ascertain whether the components of internal control are present and functioning, and

17) Evaluates and communicates internal control deficiencies in a timely manner to those parties responsible for taking corrective action, including senior management and the board of directors, as appropriate

2013 Integrated Framework

Principles & Components



Despite the changes in the enumerated principles, the types of risk addressed by the principles are basically unchanged from the original Framework. Each of the 17 principles must be considered in the risk assessment phase of planning the risk-based audit.

What is the role of the Frame-work when the auditor does not intend to rely on internal control in the conduct of an audit conducted in accordance with generally accepted audit-ing standards?

The requirement that auditors obtain, and document, an understanding of aspects of every audit client’s inter-nal control system has been expressly required for more than 24 years. How-ever, many auditors tend to dismiss this risk assessment requirement in the small- to medium-sized audit client envi-ronment because of the informality of the client’s internal control system. In fact, a marginally documented system of internal control presents a very fertile potential for risk identification. An under-consideration of this type of client’s system of internal control presents at least two potential problems in an effec-tively planned risk-based audit:

1. Such a supposition can lead to a superficial understanding of the elements of a client’s internal control system that are, in fact, present. In many situations, control policies or procedures are present, but undocumented. Auditors should become aware of the significant control policies and/or procedures that are rou-tinely employed by the client. The fact that a client employs a particular policy or procedure implies that the client is relying on that procedure to monitor a particular risk. Most of the time this type of risk is a control

activity component concern, and the potential type of risk is a “blind-siding” type of risk, in that the client may be relying on a particular policy or procedure to monitor a particular risk when, in reality, the procedure does not:

i. Adequately address the risk, or

ii. Is not being done in an effective manner.

This is a primary reason why auditors review a client’s bank reconciliation (a control activity intended to establish complete-ness of cash transactions) poli-cies, as well as the mechanical integrity of the reconciliation. Deficiencies related to either the regularity of the reconcili-ation process or reconciliation process itself could lead to a false sense of security, on the

part of the client or auditor, regarding the achievement of this completeness concern.

2. Risk can also come from a total absence of elements (principles) within the components of inter-nal control. This type of risk gives rise to “holes” in the cli-ent’s system of internal control, and can occur within any of the five components in each of the internal control objectives. For example, risk exists in an environment where clients do not have a policy regarding checking references prior to hiring persons who will provide significant inputs for the finan-cial reporting and compliance internal control objectives (a risk assessment concern).

Phase one of the two-part risk-based-audit planning process is referred to as the risk assessment phase. In this phase

While there has been no

change in the definition

of internal control, inter-

nal control objectives or

internal control components,

there has been a significant

change in the application of

these foundational elements

that will affect how auditors

identify risk in their client’s

system of internal control.



the auditor assembles a proactive list of risks that have been identified as being applicable to a particular client. Phase two involves developing an approach to reduce the risk surrounding those identified in phase one to an acceptably low level. The approach that an auditor decides to use in the risk reduction phase is a matter of professional judgment, and may or may not include reliance on inter-nal control.

Existing professional standards require that auditors perform risk assessment (identification) procedures to each of the components of the financial report-ing objective as defined in the COSO Integrated Framework. Also, in accor-dance with the Clarity Standards of the AICPA, if compliance with laws and/or regulations could be a significant source of risk for a given audit client, then the risk assessment requirement extends to the components of this objective as well.

Risk assessment is not an intellectual requirement—it is done for the very practical purpose of planning an audit. If the risk identification process does not result in an identifiable effect on the audit approach, then the auditor has not taken the effort to its intended goal. Consider this example. Starting with the COSO Integrated Framework, Control Environ-ment. Then look at the first principle, “The organization demonstrates a com-mitment to integrity and ethical values.” Let’s say that an auditor discovers that his or her client is completely lacking in the subject matter of this principle. This is a gross example of risk identification. Being aware of a particular risk does:

1. Nothing to reduce this risk, and 2. Not mean that an adverse

manifestation of this risk has occurred.

Awareness of this risk may have an effect on specific aspects of the audit of this type of client. Here are some examples to consider:

1. The amount of reliance placed by the auditor on responses to inquiries posed to members of management and/or those charged with governance,

2. The size of samples used in the course of the audit,

3. The experience level of staff assigned to the engagement,

4. Amounts used for planning materiality and tolerable mis-statement,

5. The timing, and extent of work-ing paper review and

6. The use of specialists in the audit of areas that present sig-nificant risk.

Each of COSO Framework’s 17 prin-ciples should be addressed in a manner similar to the above example when an auditor determines that a risk related to that principle exists. Each identified risk should be sufficiently understood by the auditor to enable that auditor to identify, with specificity, the effect(s) that the iden-tified risk will have on the approach to risk reduction taken by the auditor.

Conclusion While there has been no change in

the definition of internal control, inter-nal control objectives or internal control components, there has been a significant change in the application of these founda-tional elements that will affect how audi-tors identify risk in their client’s system of internal control. Auditors are required to sufficiently understand their client’s system of internal control, as it relates to the financial reporting, and compli-ance with laws and regulations objectives, to identify risk as it relates to potential deficiencies in existing aspects of the system, as well as the absence of sig-nificant elements in the internal control system (holes). All identified risks need to be understood at a level that enables the auditor to specifically identify the (potential) effect that the risks will have

on the approach to the audit.

GaryxHotchkiss, CPA, is a partner in a small CPA firm in Dallas, Texas, and the Presi-dent of RealisticAp-proach Seminars, Inc. He can be reached at [email protected] Gary, one of the WSC-

PA’s most popular instructors, in the class-room this fall in Washington State. See below for his upcoming seminars.

Learn more with Gary Hotchkiss

BELLEVUEAug 6Annual Accounting Update and Review for Accountants in Industry

Aug 7Financial Statement Analysis – A Realistic Approach

WEBCASTSep 10Annual Compilation Update – A Seminar Designed for Smaller Firms 2014

BELLINGHAMNov 24 Compilation and Review Annual Update

Nov 25 Financial Statement Analysis – A Realistic Approach

© G

etty

Imag

es/Im

age

Sour

ce


DATA ACT

The Digital Accountability and Transparency Act, or the DATA Act, was signed into law by President Barack Obama on May

9, 2014 (Public Law No. 113-101). The primary purpose of the bill is to standard-ize the format of all federal spending infor-mation and put that information online in both machine-readable and user-friendly human-readable formats. Essentially, the DATA Act makes it so American taxpay-ers, the media and other federal govern-ment watchdogs, and federal agencies can “Google” the information and see where the government’s money goes.

The bill was widely praised as an important step toward an open and transparent government and it was unanimously approved by both the House and Senate.

So what does the DATA Act mean for CPAs? There are both micro-level and macro-level messages.

At the micro level: beginning in about three years the US Department of the Treasury (Treasury Department) will publish checkbook-level payment data with government-wide common data elements so that federal grantee/contrac-tor payment information will be search-able by agency, program, appropriation, account, grant/contract, and grantee/contractor. This information will be avail-able in standard machine-readable and human-readable formats.

The American Institute of Certified Public Accountants (AICPA) and Insti-tute of Management Accountants (IMA) predict that the eXtensible Business Reporting Language (XBRL) will be the machine-readable format selected by Treasury. The AICPA and IMA were both instrumental in the creation of XBRL which is being adopted globally for finan-cial and other business reporting.

It is important to recognize that, as currently enacted, the provisions of the DATA Act are like grocery stores pasting

Understanding the Impact of the DATA Act on CPAsBy Charles Hoffman, CPA

Universal Product Codes (UPC) stick-ers, those bar codes common on every-thing you buy, onto the products on their shelves rather than the UPC code being printed on packaging by the manufactur-ers of products.

It is highly likely that the Treasury Department will recognize this and push the initial assignment and formatting of information downstream in the supply chain to federal grantees and contractors. Further, it is highly likely that the paper-based financial reports sent to the federal government will be replaced by machine-readable financial statements.

That brings us to the macro-level mes-sage: digital financial reporting is on the horizon. The AICPA and IMA were lead-ers of the creation of the global standard

XBRL machine-readable information format. This effort began in 1999. Begin-ning in 2005 the Federal Deposit Insur-ance Corporation (FDIC) has required the financial statements of the financial institutions it regulates to submit that information using the XBRL format. By all accounts, the FDIC use of XBRL has been a resounding success.

Since 2010, US public companies have been submitting financial information to the Securities and Exchange Commission (SEC) using the XBRL format. The SEC’s use of XBRL has not gone as smoothly as what the FDIC experienced. Public companies have complained about the cost and complexity of expressing their financial information using XBRL and the quality of the information has led to

© iS

tock

by

Get

ty Im

ages

/shi

rono

sov


DATA ACT

challenges in making use of that informa-tion. Legislation has even been proposed to exempt smaller reporting entities from the XBRL reporting requirement as a result. While there are significant differences between the FDIC’s use of XBRL which is more forms-based and the SEC’s use which is about as flexible as one can get, the issues being experi-enced by public companies are becoming understood and being addressed. Soft-ware costs are dropping, and complexity is being reduced as software is improv-ing. In addition, more and more analytical tools are becoming available so that many of the promises of what XBRL offers are beginning to be understood. It is highly likely that the SEC XBRL-based financial reporting system will have its glitches fixed and provide significant insight toward making effective use of the XBRL format for financial reporting.

Around the world other regulators are mandating the use of XBRL for finan-cial and other business reporting includ-ing regulators in the United Kingdom, France, Spain, the Netherlands, Austra-lia, India and Japan, to name just a few. Understanding how others are applying XBRL to financial reporting helps CPAs understand the pros and cons of digital financial reporting.

While there is no guarantee that XBRL will be the machine-readable information format chosen by the Treasury Depart-ment for implementation of the DATA Act, some digital format will be selected. The technical format makes no difference really. What matters is that information will be structured and it will be read-able by machines such as computers. It will reduce the time and therefore the costs of creating and consuming finan-cial report information and improve the information’s quality and utility. CPAs will need to understand how to work with this digital information.

Further, the DATA Act will likely have

an impact on the federal single audit (OMB A-133 audit). If you consider the DATA Act and that the AICPA has pub-lished audit data standards which utilize the global standard XBRL, it is not a huge leap to realize that standardized machine-readable formats can be used for not only the financial reports which are required to be issued to the federal government, but also for the audit data in support of that financial report.

Financial analysis is already digital, gen-erally performed using electronic tools such as spreadsheets. Rekeying financial information from paper-based reports or even electronic-based PDF, HTML or Word files into electronic spreadsheets makes little sense, particularly given the ever increasing volume of information.

So, while the DATA Act will have a micro-level impact on CPAs, it is also a

clue into what financial reporting will look like in the future. These changes are not only inevitable, they are immi-nent. You can see the signs. The DATA Act is a sign of a much larger trend which CPAs should realize will have an impact on their work practices. CPAs need to keep their fingers on the pulse of this inevitable change.

Char l e sxHof fman , CPA, MBA, MCPS, is a sole practitioner from Tacoma. He is credited as being the Father of XBRL. He can be reached at [email protected].

Learn More

DATA Actwww.datacoalition.com/issues/data-act.html

Betting the Oddswww.vox.com/2014/5/22/5723878/how-a-bill-becomes-a-law-in-2014

US profession predicts upsurge in XBRL to comply with DATA Actwww.theaccountant-online.com/news/us-profession-predicts-upsurge-in- xbrl-to-comply-with-data-act-4265033 Tech Industry Applauds DATA Act’s Enactmentwww.prnewswire.com/news-releases/tech-industry-applauds-data-acts- enactment-258714991.html

Digital financial reporting harnesses computers for speed, accuracyhttp://searchfinancialapplications.techtarget.com/opinion/Digital-financial-reporting-harnesses-computers-for-speed-accuracy

Audit Data Standardswww.aicpa.org/interestareas/frc/assuranceadvisoryservices/pages/audit datastandardworkinggroup.aspx


CGMA

As the accounting profession evolves, so does the set of skills required of individuals and their teams. Over the past two years,

the AICPA has joined CIMA in reaching out to companies around the globe. We heard that executives are looking for finance professionals with strong techni-cal and people skills, an understand-ing of the business, and the potential to be leaders within the organiza-tion. The new CGMA Competency Framework helps management accountants and their employers identify the competencies needed to adapt to these shifting business demands.

The ResearchThe AICPA and CIMA conducted

extensive global research with employers, identifying the compe-tencies organizations require to drive better business. The research, which was used to develop the competency framework, was con-ducted in three phases:

• Face-to-face interviews per-formed with 67 organizations from the United States, Malaysia, South Africa and the United Kingdom

• Roundtable discussions held in 13 countries in the Americas, Asia, Europe and Africa

• Online survey taken by nearly 3,400 CIMA members, students, academics and tuition providers

Research participants included both finance and non-finance staff in mid- to senior-level positions from a wide range of industries in both the private and public sectors.

New Competency Framework Strengthens CGMA Value

Knowledge and Skills Define Designation Standard

The new employer-driven frame-work is designed around four knowledge areas that have a series of relevant inte-grated competencies or functions. Each competency prescribes a series of skills that assist in the CGMA’s professional

development and can be performed at, and measured by, four proficiency levels. Knowledge areas within the framework include:

• Technical skills that enable finance professionals to col-lect, store, process and analyze information to be shared with stakeholders

• Business skills that allow finance professionals to use their knowledge of the business and its environment to transform data into strategic insights

• People skills that influence the decisions, actions and behav-iors of decision makers, others throughout the organization and stakeholders

• Leadership skills that span peer, functional and strategic levels

The proficiency levels for each com-petency skill are Foundational (staff/entry level), Intermediate (supervisor/manager), Advanced (senior manager) and Expert (executive/C-suite). The importance of

each skill varies by proficiency level, and the more important the skill is at a specific level, the higher it will be weighted on a 100-point scale. As a result, as individuals advance in their proficiency, and career, the weighting of individual skills will change accordingly.

For example, finance profes-sionals at the Foundational level will receive the highest weight-ing for Technical skills. Yet, as they progress along proficiency levels the weighting for Technical skills will decrease while weightings for Business, People and Leadership skills will increase consistently with their career progress. At the Advanced level, the importance of Business skills and People skills

level off and the importance of Leader-ship skills increases.

Framework Drives Qualifica-tion Syllabus and Assessment Exam

The framework is the foundation that will demonstrate the relevance and capa-bilities of a CGMA as a trusted finance and business strategist because it’s the underpinning of the CIMA syllabus, which will be covered in the mandatory CGMA strategic case study exam next year.

To learn more about the framework, please contact Nancy Marc-Thrasybule, Technical Manager, AICPA Management Accounting Team [email protected].


NEWS BRIEFS

And the Winners Are...

Find a CPA Referral Service: Easy Marketing For Your FirmSign up today at www.wscpa.org (click “Find a CPA”)

Was the public able to easily find your firm this past tax season? Are you looking for ways to attract new clients? Now is a great time to renew your current listing or enroll your firm in the WSCPA Find a CPA Referral Service and expand your client base.

For just $175 your listing will be enrolled for a full year. This service does far more than any ordinary phone book listing. Not only does this service make it easy for new clients to find your firm, but it also high-lights the services and areas of expertise offered by your firm.

The WSCPA referral service is a great source of new clients looking for services in industries that match your firm’s expertise. Rather than using directory assistance to find a CPA, potential clients feel comfortable about their referral from the WSCPA because they are able to view information about services offered by your firm. To enroll in the service visit www.wscpa.org > Find A CPA.

If you have questions, call (425) 586-1142, or toll-free in Washington at (800) 272-8273, Ext. 1142, or send an e-mail to [email protected].

Three WSCPA members were selected as winners from 8,538 entries in the WSCPA annual dues drawing. Each of these members won a $300 Amazon gift card. Congratulations to the following members:

• Conrad Gehrmann, CPA, is a founding and managing member of Filament LLC in Seattle, and has been a member since 1999.

• Dan Shao, CPA, is with Loveridge Hunt & Co PLLC CPAs in Bellevue, and has been a member since 2007.

• Rebecca McCarthy, CPA, is a Tax Manager with Moss Adams in Everett and has been a member since 2003.

Thank you to all members who renewed their membership by June 1. If you have not yet renewed your membership, visit www.wscpa.org or call (800) 272-8273 (toll-free in Wash-ington) or (425) 644-4800. If you are currently unemployed or on leave for family or medical reasons please call (425) 586-1142 to determine if you qualify for reduced rates. Renew your membership by July 31 to avoid a lapse in your member benefits.

Thank you to all members who renewed

their membership by June 1.

Enroll now for a full year for just $175New!

Value CPE

www.wscpa.org/value

Save big with

Correction Notice“Commissions, Contingent, and Refer-

ral Fees—Can You Accept?”, an article published in the Spring 2014 issue of The WashingtonCPA, incorrectly stated: “The applicable Washington state law (Wash-ington Administrative Code 4-30-044) is nearly identical to that of the AICPA’s Rule 503. Therefore, if you are a licensed CPA in Washington State and following the guidance in Rule 503, you should be in the clear.”

The article should have read: “The applicable Washington state law (Washington Administrative Code 4-30-044) is more restrictive than the AICPA’s Rule 503. According to Washington’s rule it is a conflict of interest and the fee is prohibited if the CPA is doing a compila-tion, regardless of a disclosure of lack of independence.”


NEWS BRIEFS

Join the conversation! Are you a member of the WSCPA group on LinkedIn? Join the conversation today! Plus, follow WSCPA news and find event photos on Facebook and Twitter. You may have missed the following discussions, news and posts:

Connect with fellow members, and participate in discussions at

www.wscpa.org/linkedin

Like the WSCPA on FacebookWashingtonCPAs

Follow the WSCPA on Twitter@wscpa

Twitter FacebookLinkedIn

Does anyone have a recommenda-tion or experience working with budgeting software?

As a CPA in industry, do I need to issue a compilation report when sending financials to a third party?

Can anyone share experience on terms for purchasing an existing practice?


See page 35 for a complete list of CPE options.


2013-2014 AWARDS

John L. O’Brien Lifetime

Achievement Award

Rick Anderson, CPA

2013-2014 WSCPA Awards Every year the WSCPA recognizes

CPAs for making a difference in their

communities, providing outstanding

service, dedication or leadership to

advance the accounting profession and

the Society. The Society congratulates

this year’s honorees.

For an exemplary career of leadership and service to the accounting profession

“Rick Anderson exemplifies Moss Adams’ core values of passion for excellence, integrity, lifetime learning, lead-ing by example and respect,” said Chris Schmidt, Chairman and CEO of Moss Adams.

Rick has been with Moss Adams since graduation from Western Washington University in 1973, having spent his career in the Seattle and Yakima offices. He provided audit and consulting services to manufacturing, agricultural, and food processing entities in Seattle from 1973 to 1978 and then in Yakima until 1993. Rick was appointed the firm’s Director of Accounting and Auditing in 1984 and filled that role while remaining active in client service. In 1993, he returned to Seattle and became Director of Opera-tions, and in 1999, he became the President/COO of Moss Adams LLP. From July 2004 to March 2013, he served as the Firm’s Chairman/Chief Executive Officer. Today Rick remains an active partner in Moss Adams, serving as Chair-man of Praxity, and working part time on special projects for Moss Adams.

Rick has served on several AICPA committees and task forces, is a former member of the AICPA Council, and is a past chair of the AICPA Major Firms Group. He also served two terms as a trustee on the Financial Accounting Foun-dation (FAF) Board. In January 2010, the AICPA, FAF, and the National Association of State Boards of Accountancy (NASBA) named Rick chairman of a “Blue-Ribbon Panel” established to address how U.S. accounting standards can best meet the needs of users of private company financial statements.

In January 2008, Rick was appointed to the Praxity Management Board and Governing Council, and in January 2013, he was appointed Chairman of the Praxity Manage-ment Board.

Rick and his wife Lori have two children. A WSCPA member since 1975, Rick is only the ninth

member of the Society to receive the John L. O’Brien Life-time Achievement Award.


2013-2014 AWARDS

For continuous support of the WSCPA through membership, volunteering, program participation and sponsorships

Business of the Year

A licensed CPA since 1998, David Trujillo, CPA, CGMA, was appointed Executive Director of the Washington State Gambling Commission, effective June 19, 2013. Previously he was Deputy Director of the agency, where he began his career in 1992.

Soon after becoming a WSCPA member in 2000, David became actively involved with the WSCPA’s Professional Conduct Committee serving as committee member and committee chair. He encouraged the Professional Con-duct Committee to educate the membership on matters of professional ethics and has written articles for The Washington CPA magazine.

David served on the Society’s Board of Directors, Olympia Chapter Board, and on the 2010 WSCPA/State Board of Accountancy Structure and Operations Review Task Force. He enjoys advocating for the WSCPA and CPA profession, and guest lecturing. He is a favorite speaker with college students who seem to be in awe of a CPA that carries a gun to work.

Outstanding Volunteer Leader Award

Dave Trujillo, CPA

For dedicated leadership and ambassadorship for the WSCPA

Outstanding Volunteer Leader Award

Mike Cheney, CPA

For continuous and unwavering support and leadership to the

WSCPA Governmental Accounting and Auditing Committee

Mike Cheney has been the backbone of the WSCPA Government Accounting and Auditing Committee (GAAC) for 30 years. Thanks to his vast store of knowledge and contacts, the GAAC Conference always has interesting and relevant speakers and topics.

He has mentored all committee members over his tenure; that probably covers 30 to 40 individuals who remain his steadfast fans.

“His leadership and ability to serve as a role model have fostered many WSPCA volunteers and leaders within the profession,” said Laurie Tish, CPA, Moss Adams LLP.

Mike is a retired state employee. He prepared the first Washington State Comprehensive Annual Financial Report and was primarily responsible for the state receiving its first coveted Government Finance Officers Association’s Certificate of Excellence in Financial Reporting.

As Mike retires this year from the GAAC, the Society honors him for his dedication, commitment and passion for government accounting.

Peterson Sullivan is a leading local public accounting and business advisory firm based in Seattle with more than 150 professionals and support staff. It is listed in the top 10 of the most recent Puget Sound Business Journal’s top accounting firms list and is included on INSIDE Public Accounting’s Top 200 list, making the firm among the largest accounting firms in the nation.

For many years Peterson Sullivan has supported the activities and programs of the WSCPA. More than 120 Peterson Sullivan employees are WSCPA members. Thanks to the firm’s encouragement and flexible policy of allowing staff to volunteer during work hours, 13 employees are active WSCPA volunteers. Peterson Sullivan offers support and sponsors the Society’s events and conferences. When the Society’s began holding New Professionals networking events, Peterson Sullivan was one of the first firms to offer support for these events.


2013-2014 AWARDS

Representative Roger Goodman has been actively involved with the WSCPA and AICPA. Representing Washington as a legislator, Roger presented at an AICPA meeting to all states. He also took time to present at the WSCPA’s first profes-sional issues update webcast in January, which was viewed by more than 400 members. In addition, he presented at the first ever advocacy event of the Sammamish Valley Chapter. Roger actively asks the WSCPA if there are issues we are concerned with, and how he can help. He also demonstrates an understanding of the profession’s needs.

Special Award

Representative Roger Goodman

For support of the WSCPA and service to the accounting

profession throughout Washington State

New Professionals Award

Sarah Ozanne, CPA

For passion and commitment to the WSCPA, its programs

and committees

Rising Star Award

Wendy Kwan

For enthusiasm and assistance to the WSCPA, Beta Alpha Psi and fellow

accounting students

A 2014 graduate of University of Washington - Bothell, Wendy Kwan is an enthusiastic supporter of the WSCPA.

She has been a leader in the Beta Alpha Psi (BAP) Club at UW Bothell for several years. For the past two years, she has been a vital part of the team that organizes an accounting careers symposium for more than 100 high school students on campus.

This year Wendy jumped in to fill the BAP lead role in planning the symposium. She did this while taking a full course load and working full time. Thanks to her dedica-tion and leadership with the college students, the day went smoothly.

Wendy has also been a strong advocate for the WSCPA on the UW-Bothell campus by promoting scholarships, the value of membership, and spreading the word about opportunities to connect with CPAs.

Wendy has accepted a job with Bader Martin.

Sarah Ozanne has been active in the WSCPA since 2008. She was a key member of the New Professionals Committee in Spokane. After relocating to Moss Adams in Everett in 2012, she joined the New Professionals Com-mittee in the Puget Sound area and again became a vital member of the committee.

As the new chair of the Puget Sound committee, she is already using her strengths in relationship building, and finding opportunities to engage fellow members.

A past scholarship recipient, she serves on the Wash-ington CPA Foundation scholarship committee. Sarah also volunteers to introduce college students to the profession.

“Sarah is a dedicated volunteer, who always shows up with a can do attitude and goes the extra mile to ensure that everything is going well,” said Amy O’Donnell, WSCPA Director of Member Services.

Sarah is a senior accountant with Moss Adams, LLP in Everett, where she provides assurance services to a number of different industries.


2013-2014 AWARDS

Russell Price has over 30 years of diverse experience in corporate finance, accounting, auditing, business consult-ing, and operations management.

“Russell’s dedication and leadership at the local, state, and national level has made a real difference to our profes-sion,” said Glenn Wisegarver, WSCPA Chair for 2013-14.

Russ is currently Senior Compliance Manager in the Ethics and Legal Compliance Group at Intel Corporation responsible for the company’s FCPA Compliance Program.

Prior to joining Intel, he was a Senior Manager with Andersen. Russ has held corporate accounting, operations finance, and operations positions with Tektronix, Frito-Lay, and Procter & Gamble.

Formerly he served on the WSCPA Board of Direc-tors, served multiple terms as the WSCPA Southwest Chapter president, and was a member of the AICPA Busi-ness and Industry Executive Committee. He currently serves on the board of the Clark County Food Bank as treasurer.

Chair’s Award

Russell Price, CPA, MBA, ACA

For contributions in service to the CPA profession

at the local, state, and national level

President’s Award

Trina Doty, CPA, CGMA, CFE

For extraordinary effort and leadership in directing the new website, database, and financial reporting projects

Trina Doty, CFO of the WSCPA, has devoted the last two years to implementing a new association management system, website, and financial reporting software for the Society.

“This award and Trina’s recent promotion to Chief Financial Officer were in recognition of her talent, enthusi-asm, and leadership of all aspects of the WSCPA’s financial and operating functions,” said Rich Jones, WSCPA Presi-dent & CEO. “She is a tireless worker who continuously strives to improve every aspect of our financial operations and demonstrated this over the past two years in the implementation of our new website, database and financial reporting systems.”

Prior to joining the staff of the WSCPA as Controller in 2008, Trina served as Entrepreneurial Services Coordina-tor with Clothier & Head. A licensed CPA in Washington since 2002, Trina also worked with the Washington State Bar Association for a number of years.


LEADERSHIP LENS

few emerging leaders take advantage of non-profit leadership opportunities to hone and demonstrate their leadership and interpersonal skills. Personally, when choosing between candidates of equal technical skill, I will almost always select the one with demonstrated leadership experience, particularly in volunteer set-tings which often require greater com-mitment and interpersonal skills than an employee position would. For members looking to develop these critical skills, the WSCPA is an invaluable resource offering an expansive array of options for future leaders to demonstrate what they have to offer.

My own skills, as a CPA, a CGMA and a business leader, have grown in each of the four areas of the CGMA Competency Framework as a direct result of my involvement in the WSCPA.

But there is a fifth benefit I’ve received, and it’s just as important as what I have to offer my employer and my clients. It’s the

value my designations have in the market.The CPA remains one of the most

highly regarded professions, second only to physicians. We are also the pre-ferred solution within the accounting field. Seventy-five percent of business decision-makers and 72 percent of inves-tors reported higher confidence in a job performed by a CPA than one performed by a non-CPA. In Washington State, we can thank the commitment the WSCPA has made, for 110 years, to protecting the integrity of the profession, monitor-ing quality, advocating for strong ethical practices, promoting the benefits of cer-tification, and actively lobbying to prevent legislation that would negatively impact our profession.

And that’s why my answer to the question of relevance is unhesitating. The WSCPA looks after my needs as a member in industry, ensuring I have the resources and the opportunities to suc-ceed. It also works to ensure that those

three letters after my name, “CPA,” and the four more that follow those, “CGMA,” command respect and reward. I would not be as successful as a CPA in industry without the WSCPA’s help.

Heather Fitzpatrick is President & CEO of MarketFitz. You can contact her at [email protected].

The Value of Membershipcontinued from page 5


ADVOCACY

Does hearing the words “elec-tion year” make you want to cancel cable, stop reading the news, and hibernate until

the election is over? You’re not alone. Or maybe you look forward to happily putting up signs and advocating for your candidate or cause. However you feel about politics it is hard to ignore them during election time. Figuring out what is true and what is propaganda can be tough. Figuring out how to get a question answered or to simply be heard can be overwhelming.

Advocacy is one of the main reasons professional organizations are and were formed. The value of advocacy is often overlooked because if done well you are protected, and most people tend to pay attention only when they feel they have been wronged. For many decades the WSCPA leadership, volunteers, lobbyist and staff have been monitoring bill pro-posals, new rules and laws, and weighing in when necessary to ensure the profes-sion is protected.

One way professional organizations provide effective advocacy is by encour-aging members to build relationships with their legislators. When legislators need professional expertise on financial topics that could have drastic conse-quences on businesses in Washington State, they can contact CPAs with whom they are already familiar and can trust for advice. The CPA Political Action Commit-tee (CPAPAC) provides WSCPA mem-bers with the opportunity to help deliver checks to legislators. This is a great way to start building relationships with your local legislators so they have a CPA in their area to turn to when they have questions. If you are interested, please let me know.

This year promises to be an impor-tant year on the advocacy front. Why? Currently there are several legislative developments unfolding in our state, and

Election Year: What’s Ahead? By Kimberly Scott

this might continue during the next legis-lative session.

The state’s budget will again be a chal-lenge. The McCleary decision (McCleary v. State of Washington) has legislators needing to find over $5 billion in the next couple of years to fund education. Will the money come from cutting expenses, rais-ing taxes, or other new revenue streams? A variety of proposals can be expected this next session and the WSCPA will be monitoring all proposals.

You may recall that last session’s pro-posed budget included a sweep of the Washington State Board of Accountancy (WBOA) funds into the general funds. The WBOA has a fund balance, which is used to run operations, fund investiga-tions, and protect the public when nec-essary. One hundred percent of the fund balance comes directly from CPA license fees. Thanks to members responding to their legislators, the WBOA was able to retain their current balance. This could be considered again during the budget cycle.

In addition to monitoring bill proposals for budget issues and safeguarding CPA funds, there is a need for some clarifica-tion in Washington State’s Accountancy Act (RCW 18.04) around the definition of attest. There has also been a trend in many states to get an exemption for CPAs in the Private Investigator business rules.

There is also a new designation that applies to CAs, CMAs, and CGAs in Canada. That designation is the Chartered Professional Accountant (CPA). There is work being done at the state and national level to help clarify how the CPA desig-nations can be used in each country to eliminate confusion with consumers. To find out more about the Canadian pro-gram visit www.cpacanada.ca.

Whether you’re excited for or dread-ing the coming elections, you can rest easy knowing that the WSCPA advocacy team is watching out for CPAs in the state of Washington as we head into the next legislative session. However, this year may prove to be a year where more mem-bers are asked to participate by reach-ing out to legislators. We will keep you informed. If you would like to “raise your hand” to volunteer, either by delivering checks, creating relationships, or getting more actively engaged as a grassroots volunteer, please contact me at [email protected].

Kimberly Scott, CAE, is WSCPA Vice President of Member Services.

This year promises to be an important year on the advocacy front. Why? Currently there are several legislative devel-opments unfolding in our state, and this might continue during the next legislative session.

© iS

tock

by

Get

ty Im

ages

/ba


PROFESSIONAL CONDUCT

From making the right determi-nation on accepting gifts from vendors, to deciding whether it is appropriate to audit a friend’s

business, CPAs face ethical concerns each day. One thing is certain: ethical decisions often need to be reached quickly, which is why the AICPA’s Ethics Division and the Professional Ethics Executive Committee undertook a project in 2008 to restruc-ture the AICPA Code of Professional Conduct for quick and easy navigation. The revised code is now available at www.aicpa.org/newcode and will be effective starting December 15, 2014 with early adoption encouraged. The updated code lives on a new and dynamic online plat-form, is broken down into different parts by line of practice, is intuitively arranged by topic and where necessary subtopic and section and incorporates the con-ceptual framework approach all while retaining the substance of the existing AICPA ethics standards.

Electronic FormatThe revised code is accessible on a

new and dynamic electronic platform. This platform not only allows the user to conduct and save basic and advanced searches but also includes the ability to email links, create and name bookmarks and add and save notes while reviewing the code. In addition, the code features pop-ups for defined terms as well as hyperlinks connecting to other relevant content within the code as well as exter-nal non-authoritative material issued by staff of the Ethics Division. The Code of Professional Conduct’s new online capa-bilities will facilitate a more user-friendly experience.

Intuitively ArrangedThe reformatted code is arranged

into three parts. Part 1 applies to AICPA members in public practice; Part 2 to members in business; and Part 3 to all

other members, including those who are retired or between jobs. This new organization allows members to easily access relevant sections of the code, based on their line of practice. Addition-ally, the code is organized by topic and where appropriate, subtopic and section. As a result, members in business will not have to sort through topics applicable for members in public practice such as independence and confidential client information. These changes to the code’s organizational structure will allow mem-bers to apply the rules and reach correct conclusions quickly and efficiently.

Conceptual Framework Approach

The most significant change to the Professional Code of Conduct is the incorporation of two conceptual frame-works, one for members in public prac-tice and one for members in business. The conceptual framework approach, also known as the “threats and safeguards”

Now Available: Revised AICPA Code of Professional Conduct

approach, is a way of identifying, evaluat-ing and addressing threats that may exist and safeguards that may be applied to eliminate or reduce those threats to an acceptable level. The conceptual frame-work is used for areas where the code lacks guidance. This new section broadens the reach of the code by allowing mem-bers to reach conclusions even if specific guidance is not written in the code.

The AICPA Professional Ethics Execu-tive Committee (PEEC) and the Profes-sional Ethics Division are pleased to share the revised Professional Code of Con-duct in its new format, www.aicpa.org/newcode. The code has an effective date of December 15, 2014, with a delayed effective date for the Conceptual Frame-works. Early implementation is encour-aged. For information and resources on the Ethics Codification project, including implementation tools, visit www.aicpa.org/ethicscodification.

Revised AICPA Code of Professional Conductwww.aicpa.org/newcode

© iS

tock

by

Get

ty Im

ages

/Fra

ncis

Blac

k


COMFORT LETTERS

How to Respond to a Comfort Letter/ Third-Party Verification Request

“CPAs are often faced with requests for informa-tion from lenders and are not sure how to

respond, but offering the right response can present a real service opportunity for your practice,” said Chuck Landes, CPA, Vice President, Professional Standards and Services with the American Institute of CPAs (AICPA). “While you cannot provide assurance on matters relating to solvency, you can provide a number of services to your clients with other types of responses or activities that address their particular situation.”

Understanding Types of Requests

You may be asked to provide any number of verifications. Some frequent requests include verification of:

• Self-employment status• Income• Number of employees• Business ownership• Business profitability• Business sustainability • Real estate purchase impact on

business• Business loan impact

There are several ways a CPA can respond and not every response need be in the form of an attestation engagement.

Determining the Proper Response

A CPA may provide a response that states factual information and may pro-vide a conclusion, assuming the CPA has performed sufficient procedures and has a basis for the response. A CPA may respond verbally or via email, form letter or other written channels. Additionally, an accountant may provide a client with these other options:

• Prepare an audit, review or compilation of financial state-ments;

• Offer an examination, review or compilation of pro forma financial information;

• Supply an examination or com-pilation of prospective financial information; or

• Write an agreed-upon pro-cedures report, as long as the agreed-upon procedures do not provide any assurance on mat-ters related to solvency.

For example, some CPAs are receiving requests from bank lenders on verifica-tion of financial information from a tax return. Without providing assurance on matters relating to solvency, CPAs can respond to such requests in a number of ways, such as:

1. By providing a letter explaining that the CPA prepared the tax

return—based on information provided by the client—and that such financial information agrees with the tax return pre-pared by the CPA.

2. By performing an attest engage-ment for the client based on the level of assurance needed by the lender.

Another example may involve a request for self-employment verification, in which case, the CPA may respond by performing an engagement to gather and provide the requested information for the client or, if more assurance is needed, an examination or review engagement.

The Question of Solvency According to AT Section 9101, para-

graph .27 of Interpretation No. 2 (www.aicpa.org/research/standards/auditattest/downloadabledocuments/at-00101_9.pdf), CPAs cannot provide assurance on matters relating to solvency. Matters

© iS

tock

by

Get

ty Im

ages

/Jesp

er E

lgaa

rd

CPAs cannot provide assurance on matters relating to solvency. Matters relating to solvency are subject to legal interpretation under the Federal Bankruptcy Code and various state fraudulent conveyance and transfer statutes.


COMFORT LETTERS

relating to solvency are subject to legal interpretation under the Federal Bank-ruptcy Code and various state fraudu-lent conveyance and transfer statutes. Because these matters are not clearly defined in an accounting sense and are subject to varying interpretations, prac-titioners don’t have suitable criteria to evaluate a subject matter or make an assertion. Lenders are often concerned with legal issues on matters relating to solvency; however, CPAs are generally unable to evaluate or provide assurance on these matters of legal interpretation. The attestation standards preclude prac-titioners from giving any form of assur-ance on matters relating to solvency.

Here are a few examples of the types of solvency requests a practitioner is pre-cluded from providing any form of assur-ance on, whether through examination, review, agreed-upon procedures engage-ments or any other consultative engage-ments.

Assurance that the client (business):

• is not insolvent at the time the debt is incurred or would not be rendered insolvent in the near future

• does not have unreasonably small capital

• has the ability to pay its debts as they mature

Or that the client’s (business’s):

• fair salable value of assets exceeds liabilities

• contingent liabilities will not pose a problem

• commitments will not have an impact on its business operations

Remember, providing third-party verification letters is an individual, or firm, decision. Credit decisions should

be based on the requestor’s exercise of due diligence in obtaining and con-sidering multiple factors and informa-tion and not solely granted based on your response. Make sure you obtain the client’s consent before revealing confi-dential client information.

Obtaining Client ConsentA CPA cannot provide any confidential

client information without signed, written consent from the client. Obtaining client consent to share tax return information creates an added complication: using a standard client consent form is not suffi-

cient. In fact, it’s a crime. Internal Revenue Code Section 7216 (www.irs.gov/Tax-Professionals/Section-7216-Information-Center) dictates that CPAs use a specific format to obtain consent to disclose client tax return information to a third party, so be sure you follow the Code when being asked to provide copies of tax information, tax returns or other information used in the preparation of a client’s tax return.

Resources for Your UseProviding third-party verifications is

a critical service CPAs provide to their clients, and understanding the ins-and-

outs can help you make quick decisions and foster client relationships.

To find out more, visit the AICPA’s Financial Reporting Center webpage ded-icated to third-party verification requests, aicpa.org/verifications, where you can find information that will help you make smart decisions about whether providing a comfort letter makes sense for you and your firm. You’ll find guidance from vari-ous AICPA resources, including sample response letters from the AICPA’s Pri-vate Company Practice Section (PCPS), a toolkit for your use and an article by AON, the AICPA’s professional liability insurance program. Additionally, on the third-party verifications page, you’ll find this video (www.aicpa.org/InterestAreas/FRC/Pages/ConcernsRegardingCom-fortLetters.aspx) featuring Sue Coffey, CPA, CGMA, AICPA Senior Vice Presi-dent – Public Practice and Global Alli-ances, discussing third party verification requests and the legal issues related to solvency requests.

Reprinted with permission of the American Institute of Certified Public Accoun-tants, Inc.

Providing third-party verifications is a critical

service CPAs provide to their clients, and understanding

the ins-and-outs can help you make quick decisions and foster client relationships.

The WSCPA holds in memory with families and the larger community, these members who have recently passed on:

In Memoriam

Gerald D. ArcherDaniel L. HansonMurray HildebrandNapoleon J. Lucchini, Jr.William A. McDonaldRobert E. Shannon


FINANCIAL PLANNING

On July 1, 2014, the new State-ment on Standards in Personal Financial Planning Services No. 1

went into effect for all AICPA members. This is the first statement on personal financial planning services to be issued by the AICPA. Prior to this, practitioners in this area had relied on the AICPA State-ment on Responsibilities in PFP Practice as a guideline.

The pathway to this new statement began in 1986 when the Personal Finan-cial Planning (PFP) division and executive committee were formed, and then moved forward to the early ’90s when the State-ment on Responsibilities in PFP Prac-tice was issued. In 2012 the AICPA PFP executive committee was granted stan-dards-setting authority; since then there have been numerous exposure drafts and comment periods to arrive at this new statement.

The statement addresses the deliv-ery of financial planning services in the areas of communication, disclosures, and documentation, which apply whether the services are delivered verbally or in writ-ing. Under the statement, PFP services are defined as, “the process of identify-ing personal financial goals and resources, designing financial strategies, and making personalized recommendations that, when implemented, assist the client in achieving these goals.”

As CPA practitioners in public accounting, most of us are involved in personal planning conversations with our clients in some of the areas that are covered by the statement. The state-ment encompasses cash-flow planning; risk management and insurance planning; retirement planning; investment planning; estate, gift, and wealth transfer planning; elder planning; charitable planning; and education planning. Our clients look to us to provide sound advice in all or some of these areas. The statement builds on the AICPA’s Code of Professional Conduct

and reinforces that, in the PFP area, we have a fiduciary obligation to always act in our client’s best interest.

To determine if the statement applies to an individual member, the AICPA has produced a simple flowchart (shown at right). This flowchart begins by identify-ing the types of planning activities that members are likely to be involved in. If the member provides personalized rec-ommendations in any of these areas, the flowchart asks three additional questions to determine if the statement will apply to them.

1. Does the member represent to the public or clients that they provide PFP services? This would include looking at their promotional materials, website information, etc.

2. Does the member engage in activities that would require registration as an investment adviser under federal or state law? This can be a complicated question, and the AICPA has produced a guide called The CPA’s Guide to Investment Advisory Business Models to assist with this question.

3. Does the member sell a prod-uct as a result of the PFP engagement?

If the member provides personalized recommendations in the areas described above, and answers yes to any of these questions, then the new statement applies to them.

Members are, of course, expected to comply with relevant ethical require-ments and should possess a level of knowledge in the PFP area that enables them to:

• Identify client goals and objec-tives;

• Gather and analyze relevant information;

• Consider and apply appropriate planning approaches and methods; and

• Use professional judgment when developing financial recommendations.

The statement indicates that all com-pensation should be disclosed in writing at the beginning of the engagement as well as when circumstances dictate. The disclosure should include:

• The amount of compensation; • The method of compensation,

including the impact of indirect compensation;

• The time period over which compensation will be received; and

• The compensation, including noncash benefits, received by the member for referrals to other providers.

When obtaining and analyzing client information, the member should always try to determine if sufficient information exists to establish a reasonable basis for his or her subsequent recommendations. During those times when sufficient data does not exist, the scope may need to be restricted or the agreement terminated.

Documentation boils down to good common sense and good judgment. Communicating the scope and nature of services is critical to a successful engage-ment; however, communicating the assumptions and estimates that are sig-nificant to the recommendations is just as important. This communication to the client should include the following:

• A summary of the client’s goals;• Significant assumptions, esti-

mates, and recommendations;

New Personal Financial Planning Services Standard: Does it apply to you? By David A. Stolz, CPA/PFS, CFP®


FINANCIAL PLANNING

• A description of any limitations on the work performed; and

• Qualifications to the recom-mendations if the effects of certain planning areas on the client’s overall financial picture were not considered.

Implementation of the recommenda-tions and monitoring and updating the client’s progress are separate engage-ments. You do not have an obligation for implementation, monitoring, or updating services unless you have a specific agree-ment with the client to do so. If you do provide these services, the statement provides additional direction.

Finally, the statement provides guid-ance when working with other ser-vice providers. In this case, the member should:

• Consider the professional qualifications of another service

provider before referring the client to that service provider;

• Disclose in writing any compen-sation received for making such referrals; and

• Communicate in writing the extent to which the member will or will not evaluate the work performed by the other service provider.

Some CPAs who are not involved in personal financial planning may look at the statement and decide not to go deeper into this area. Other CPAs might look at this as an enhanced business opportunity and decide to add PFP services to their résumé. Either way, it is important for each member to understand the implica-tions of the new statement and to make a conscious decision regarding how they want to work in the area of personal financial planning.

Find the statement, the flowchart,

Copyright © 2014 American Institute of CPAs

For more information, including FAQs and other supplemental material, visit aicpa.org/sspfps.

When Does the AICPA Statement on Standards in Personal Financial Planning Services No. 1 Apply to a Member?

Do you make personalized recommendations in one or more of the following activities?

Cash flow planning

Risk management and insurance planning

Retirement planning

Investment planning

Estate, gift, and wealth transfer planning

Elder planning

Charitable planning

Education planning

Tax planning

Do you represent to the public or clients that you provide PFP services?

Do you engage in activities that would require registration as an investment adviser under federal or state law?

Do you sell a product as a result of the PFP engagement?

The AICPA Statement on Standards in Personal Financial Planning Services No. 1 does not apply. However, the AICPA Code of Professional Conduct applies.

YES YES

YES

YES

NO

NO

NO

NO

The AICPA Statement on Standards in Personal Financial Planning Services No. 1 applies.

and an FAQ document on the AICPA website at www.aicpa.org/sspfps. If you are a PFS credential holder or a member of the PFP practice section, the AICPA has also provided sample engagement letters, checklists, and other aids free of charge (non-members may purchase these resources).

David A. Stolz, CPA/PFS, CFP® is the presi-dent of Stolz & Asso-ciates, P.S. in Tacoma, Washington. He is a member of the AICPA PFP Executive Com-mittee, which is the senior committee of the AICPA designated

to promulgate enforceable standards of PFP Practice. He is also the immediate past chair of the WSCPA PFP Committee. You can con-tact David at [email protected].


WASHINGTON CPA FOUNDATION

2014-2015 Scholarships

Bill Wells Accounting Scholarship

Payton BurnettUniversity of Washington

KPMG Accounting Scholarship Ryan Cranke

University of Washington

Roy J. Polley Memorial ScholarshipMolly Grater

Western Washington University

Pucci Family Accounting Scholarship

Natalie KolodijCentral Washington University - Lynnwood

PwC Accounting ScholarshipSiyu Lu


Accounting Students Receive $59,000 in Scholarships

By Kimberly Scott, CAE, Executive Director, Washington CPA Foundation

The Washington CPA Foundation is extremely grateful that so many WSCPA members choose to contribute to the Foundation.

Your generous contributions ensure that the Foundation can con-tinue to foster the next generation of CPAs in Washington State through scholarships. Not only are you helping the students listed here, but you are also ensuring the successful future of accounting in Wash-ington State.

For the 2014-15 school year, the Foundation awarded 20 scholar-ships for a total of $59,000. These scholarships are possible thanks to contributions from individuals, and from organizations via the named scholarship program.

Congratulations to this year’s scholarship recipients!




Clark Nuber Accounting Scholarship

Olivia WoodardUniversity of Washington

Moss Adams Accounting Scholarship

Nicole McCaffreyWashington State University

Sambataro Family Accounting ScholarshipLindsey Bos


EY Accounting Scholarship Tian Ran (Tina) ChenUniversity of Washington

Northwest Accounting Educators Scholarship

Kyle YasumiishiUniversity of Washington

Shimer Family Accounting Scholarship

Christina DavisGonzaga University

George J. Waterman Memorial Scholarship Iveth Canales

Gonzaga University

Northwest Accounting Educators Scholarship

Sladana SimicWashington State University - Vancouver

TrueBlue Accounting Scholarship

Daniel ThompsonUniversity of Washington - Tacoma




“Thank you for supporting me and

other students on the journey to

becoming Certified Public Accountants.

Your generosity is truly appreciated!”

Angela Hansen

Thank you for your continued support of the future of the accounting profes-sion. If you would like more information about

the Foundation or how to contribute, please

contact Kimberly Scott at [email protected].

Scholarship applications are available in

September for the next school year. Download an

application form at www.wscpa.org/become-a-cpa.

Applications are due February 1, 2015.

Wells Fargo Accounting ScholarshipBrett Phillips

Gonzaga University

Washington CPA Foundation Accounting Scholarship

Angela HansenWestern Washington University


Carlie AndradeCentral Washington University - Wenatchee


Allison HustonWestern Washington University


Rongxiu GuoCentral Washington University


Ashley SieversWhitworth University


EMPLOYEE ENGAGEMENT


It’s not a secret that CPAs work in a highly stressful profession. A study conducted in 1958 tested the cho-lesterol levels of CPAs before, during

and after tax season. The study found that CPAs’ cholesterol levels spiked dramati-cally during the season and dropped after it ended. Fast forward several decades and we’re still talking about stress levels in the profession. A recent AICPA survey found that firm size, position, personality type and coping methods all played a role in the level of stress individuals felt. The increase in competition and workloads are raising the job pressure that employ-ees feel.

Is being overworked the new global past time? Technology gives us the option to work from anywhere at any time and means we can be available 24/7. It contin-ues to reshape how, where and when we work. With the higher level of connectiv-ity, the pace of communication has also become faster. It can leave people feeling pulled in many directions and feeling like there are no boundaries or breaks. The Energy Project, led by President & CEO Tony Schwartz, conducted a survey of more than 12,000 workers worldwide to find out why people were not feeling fulfilled at work. The survey found that 70 percent of respondents don’t feel that they have the time for creative or stra-tegic thinking, 66 percent don’t have the time to focus on one task at a time, and 60 percent don’t have time to work on the things they enjoy.

The idea of work-life balance has been thrown out the window and replaced by the idea of work-life integration. This con-cept acknowledges the reality of today’s workplace and that workers are moving from role to role without clear bound-aries between work and home. This can lead to work fatigue, decreased produc-tivity, burnout and the inability to show up to work as your best self. Work-life integration allows employees to weave

Carving Out Time By Amy O’Donnell

together professional responsibilities and choices for their personal life. This can start by examining how you work best and your work style: What allows you to work from a place of strength and in the most efficient way? And what recharges you?

According to the Energy Project, employees are more engaged and pro-ductive when four of their core needs are met:

Physical needs: Being able to take a break (and encouraged to do so) every 90 minutes increases focus and the ability to think creatively. Add in a daily dose of exercise that you enjoy and you create a better sense of physical well being.

Emotional needs: Employees who feel valued and appreciated are having this need met. Those with sup-portive managers are 1.3 times more likely to stay and 67% more engaged.

Mental needs: Employees need the time to focus without interruption and defining how they get their work done (when and where). Having time to focus on one task at a time resulted in 50% more engagement.

Spiritual needs: This includes working on what you do best and feeling connected to a purpose. Employees who felt their jobs were meaningful were three times more likely to stay with an organization. Younger generations continually report having a sense of purpose at work as a factor in job satisfaction and their choice of employers.

To see what this looked like in prac-tice, an experiment was conducted with

accountants during the busy season. Staff took 10-15 minute breaks every 90 minutes during a tax busy season. The study found that staff were more pro-ductive, completed tasks more quickly, left work earlier, and had less stress than their peers. Despite these results, the firm in the study returned to the old way of working because of the challenge of meeting billable hours.

Even though the current billable hours model used by accounting firms presents challenges, there are other ways to make small changes that can help employees be more productive and fulfilled. Leaders at all levels can help start the conversa-tion and shift the energy. In another study Harvard Business Review found that when leaders explicitly encourage employees to work in more sustainable ways—espe-cially if the leaders model it themselves—employees are 55 percent more engaged, 53 percent more focused, and more likely to stay at the company. Engaging employ-ees is not only a win-win for everyone, but it also will contribute to your com-petitive edge in the market and ability to retain star employees.

Amy O’Donnell is WSCPA Director of Member Services. She can be reached at [email protected].

Sources: NY Times, Fast Com-pany, CPA Journal, “The Power of Engagement” by Jim Loehr and Tony Schwartz

What are the ways your firm encourages sustainable work practices?

Join the conversation on LinkedIn.

© iS

tock

by

Get

ty Im

ages

/Poj

o Sl

aw


MEMBER BENEFITS

Whether you are looking for your next job, new clients, or assistance with a current

project, your WSCPA membership is a valuable resource. Use your WSCPA membership to build your professional network today to ensure you will have the connections ready when you need them.

Networking in person is still the most effective way to build your professional contacts. Your WSCPA membership makes it easy for you to connect with members face to face.

Networking Eventswww.wscpa.org/events

Join your peers at fun social network-ing events and make connections while enjoying appetizers and beverages. This year’s new locations include Woodmark Hotel in Kirkland. Register now for the free Members’ Reception, August 21 at the Woodmark. (See page 33.)

Committeeswww.wscpa.org/community

Connect with other WSCPA members

who share in your area of interest. The new committee year just got underway, so now is a perfect time to join. Meet-ings are typically held monthly and can be attended remotely. Find committee meet-ings at www.wscpa.org/events.

Chapterswww.wscpa.org/community

Attend chapter meetings and meet WSCPA members in your community while receiving a few hours of CPE at a reasonable price.

CPEwww.wscpa.org/cpe/catalog

Use CPE as an avenue for networking. During lunch take the time to meet others in class and make new connections.

Conferenceswww.wscpa.org/cpe/conferences

Earn CPE while networking with other professionals who share your interest at conferences. Make new connections during conference lunches, breaks, and networking receptions.

Building Relationships for Your Professional Network - One of your most valuable WSCPA member benefits

Does your location or schedule make it difficult for you to network in person? Consider social networking.

For more information about any of these networking opportunities call Jennifer Ayoub, Member Services Admin-istrator, at (425) 586-1142 or e-mail [email protected].

WSCPA Group on LinkedIn Connect with fellow members, and participate in discussions

WashingtonCPAs

@wscpa

Scan to join

the group


EVENTS

Networking events2014

PUGET SOUNDAugust 21 Members’ Reception - Woodmark Hotel - Kirkland (15NPAU21) Free

October 23 Von Trapps Bocce Ball - Seattle (15NPOC23)

SPOKANEAugust 12 Happy Hour No-Li Brewhouse - Spokane (15NPAU12) Free

October 14 Happy Hour Twigs - Spokane (15NPOC14) Free

November 6 Chateau Rive - Spokane (15NPNV06)

SPONSORS

FEES Members $25 | Non-members $30 (unless noted otherwise)

HAPPY HOURS Free casual networking events with free light appetizers. Registration optional.

Register now www.wscpa.org/

events

Premier Partners

Key Partners

Supporters

Friend


CPE Digest

Fees

Date CPE Credits

Course Code WSCPA Member Fee

Non- MemberFee

AICPA Member Discount

Facility Subject

# Type

For more details, search by code at www.wscpa.org/cpe

EVENTS BY LOCATION WSCPA education and events scheduled for July-September 2014 are listed below, chronologically by location.

If you are looking for a program in another location, it may be scheduled for later in the year.

Using the online CPE & Event Catalog at www.wscpa.org/cpe/catalog, you can search by location.

LEARN MORE To view complete course details, please visit the CPE & Event Catalog at www.wscpa.org/cpe/catalog.

SUBJECTS The main subject area is listed for each program.

NEED HELP finding a seminar or webcast? Call (800) 272-8273 or (425) 644-4800. Ø

NEW CPE events added throughout year to:

www.wscpa.org/cpe/catalogA&A Accounting and AuditingCS Consulting ServicesEB Employee BenefitsPFP Estate/Financial Planning

Ethics EthicsGNP Government / NFPMG ManagementPD Personal DevelopmentSK Specialized Knowledge

TAX TaxationTEC Technology

ç New | non-tech credits | E Ethics credits | Conference | Y Yellow Book | C CFP | l Chapter event | Networking Event | S Season Ticket and Coupons N/A

Bellevue

8/04 8 Advanced Business Law for CPAs, 8AM-4PM 15ABLTAU 295 370 -30 WSCPA MG

8/05 8 Advanced Tax Practice, 8AM-4PM 15ATPAU 300 375 WSCPA TAX

8/05 8 Forensic Accounting: Fraudulent Reporting and Concealed Assets, 8AM-4PM 15FAFRAU 295 370 -30 WSCPA A&A

8/06 8 Annual Accounting Update and Review for Accountants in Industry, 8AM-4PM 15AAUDIAU 295 370 WSCPA A&A

8/06 8 New "Repair Regs"-Sec. 263, 8AM-4PM 15NRRAU 300 375 WSCPA TAX

8/07 8 Financial Statement Analysis-A Realistic Approach, 8AM-4PM 15FSAAU 295 370 WSCPA A&A

8/12 16 Partnership Taxation, 8AM-4PM 15PTSAU 505 620 WSCPA TAX

8/14 8 Critical Tools for Today's Controller and CFO, 8AM-4PM 15CDLTAU 295 370 -30 WSCPA MG

8/15 8 Financial Statement Analysis: Basis for Management Advice, 8AM-4PM 15FSABMAU 295 370 -30 WSCPA A&A

8/18 8 Excel for Accounting and Finance Professionals: Level 1, 8AM-4PM 15EAP1AU 295 370 -30 WSCPA TEC

8/19 8 Excel for Accounting and Finance Professionals: Level 2, 8AM-4PM 15EAP2AU 295 370 -30 WSCPA TEC

8/20 8 Internal Control: Essentials for Accountants, and Auditors, 8AM-4PM 15ICDADAU 295 370 -30 WSCPA A&A

8/21 8 Preventing and Detecting Identity Theft, 8AM-4PM 15IDENTAU 295 370 -30 WSCPA A&A

ç 8/22 8 Forensic Accounting Investigative Practices WEBCAST, 8AM-4PM 15WBWFAIP 265 340 -30 WSCPA A&A

8/22 8 Forensic Accounting Investigative Practices, 8AM-4PM 15FAIPAU 295 370 -30 WSCPA A&A

8/25 8 Passive Activity Losses A to Z, 8AM-4PM 15PALAU 295 370 WSCPA TAX

8/26 4 Installment Sales in Depth, 8AM-11:30AM 15ISDAU 150 185 WSCPA TAX

8/26 4 Unraveling the At Risk Rules, 12:30PM-4PM 15UARAU 150 185 WSCPA TAX

8/27 8 Washington Tax and New Developments by Mark Hugh, 8AM-4PM 15WSTXAU 295 370 WSCPA TAX

8/28 8 The Top Business Tax Mistakes Practitioners Make and How to Fix Them, 8AM-4PM

15BTBBAU 310 385 WSCPA TAX

8/29 8 Surgent McCoy's Handbook for Mastering Basis, Distributions and Loss Limitation Issues, 8AM-4PM

15HMBIAU 310 385 WSCPA TAX

09/03 8 Y Not-for-Profit Accounting and Auditing Update, 8AM-4PM 15NAUST 295 370 -30 WSCPA GNP

09/05 8 Update for Accountants and Auditors, 8AM-4PM 15AUAAST 295 370 -30 WSCPA A&A

09/08 8 Using Technology to Improve Small Business Internal Controls and to Prevent and Detect Fraud, 8AM-4PM

15ITCST 295 370 WSCPA TEC

09/09 8 Compilation and Review Standards: the Annual Update and Review by Walter Haig, 8AM-4PM

15CRURST 315 390 WSCPA A&A

© Fire Eyes Photography


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type


EDUCATION AND EVENTS Register at www.wscpa.org/cpe/catalog or page 44


09/09 8 Excel Tips, Tricks and Techniques for Accountants, 8AM-4PM 15EXLST 295 370 WSCPA TEC

09/10 8 Preparing Financial Statements for Small & Med Sized Businesses: An Update & Review of GAAP & Tax, Cash and Special Purpose Frameworks by Walt Haig, 8AM-4PM

15ASURST 315 390 WSCPA A&A

09/11 8 The Business Financial Health Checkup: A Process to Identify Misstatements and Profitability Roadblocks Using Analytical Procedures by Walter Haig, 8AM-4PM

15BFHCST 315 390 WSCPA A&A

09/15 8 Advanced Controller and CFO Skills, 8AM-4PM 15ACCSST 295 370 -30 WSCPA MG

09/16 8 Financial Forecasting: Planning for Success, 8AM-4PM 15FFMDST 295 370 -30 WSCPA MG

09/17 8 Larry Stein's Essential Moves And Strategies For Retirement Wealth, 8AM-4PM 15LSRWST 300 375 WSCPA TAX

09/18 8 Larry Stein's Technical Strategies to Establish and Grow Your Eldercare, Retire-ment and Estate Planning Practice, 8AM-4PM

15LSPLST 300 375 WSCPA TAX

09/22 8 Business & Management Conference, 8AM-5PM 15BAM 255 330 Meydenbauer Center MG

09/22 16 Surgent's Audit Skills Training-Level I-New Hire, 8AM-4PM 15AUD1ST 515 630 WSCPA A&A

09/23 4 College Financial Aid-The Best Kept Secret in America, 8AM-11:30AM 15CFAST 115 150 WSCPA SK

09/24 4 E Washington CPA Ethics and New Developments by Mark Hugh (A WA Require-ment), 8AM-11:30AM

15ETMHST24 185 220 WSCPA Ethics

09/25 8 IT Risks and Controls in Current and Emerging Environments, 8AM-4PM 15ITRCST 295 370 -30 WSCPA A&A

09/26 8 Common Frauds and Internal Controls for Revenue, Purchasing, and Cash Receipts, 8AM-4PM

15CFICST 295 370 -30 WSCPA A&A

09/26 8 Form 990: A Comprehensive Approach to Accurate Preparation, 8AM-4PM 15EOF990ST 295 370 -30 WSCPA TAX

09/29 8 Clarified Auditing Standards: What You Need to Know, 8AM-4PM 15CLARST 295 370 -30 WSCPA A&A

09/29 16 Surgent's Audit Skills Training-Level II-Staff Accountant, 8AM-4PM 15AUD2ST 515 630 WSCPA A&A

09/30 8 FASB Review for Business & Industry, 8AM-4PM 15FASBIST 295 370 -30 WSCPA A&A

ç 10/01 0 Performing an Engagement Review 15PEROC 295 370 WSCPA A&A

10/02 8 Y Case Studies in Not-for-Profit Accounting and Auditing, 8AM-4PM 15CNFPOC 295 370 -30 WSCPA GNP

10/03 8 Y Accounting and Reporting Practices of Not-for-Profit Organizations, 8AM-4PM 15FSNPOOC 295 370 -30 WSCPA GNP

10/06 16 Annual Accounting and Auditing Workshop, 8AM-4PM 15AAUWOC 505 620 60 WSCPA A&A

10/06 8 Excel PivotTables for Accountants, 8AM-4PM 15EPTOC 295 370 WSCPA TEC

10/07 8 PDF Documents-Beyond the Basics, 8AM-4PM 15PBBOC 295 370 WSCPA TEC

10/08 8 Advanced Business Law for CPAs, 8AM-4PM 15ABLTOC 295 370 -30 WSCPA MG

10/09 16 SEC Reporting, 8AM-4PM 15SECROC 505 620 60 WSCPA A&A

10/14 8 Annual Update for Controllers, 8AM-4PM 15SKSBOC 295 370 -30 WSCPA MG

10/15 8 Toolkit of Best Practices for Today's Controller and Financial Manager, 8AM-4PM 15TKBPOC 295 370 -30 WSCPA MG


15CRUROC 315 390 WSCPA A&A

10/16 8 Guide to Business Combinations, Goodwill and Other Consolidation Issues, 8AM-4PM

15AGCOC 295 370 -30 WSCPA A&A


15ASUROC 315 390 WSCPA A&A

10/17 8 Revenue Recognition, 8AM-4PM 15RRNSOC 295 370 -30 WSCPA A&A

10/20 8 Frequent Frauds Found in Governments and Not-For-Profits, 8AM-4PM 15FFGNOC 295 370 -30 WSCPA GNP

10/20 8 International Taxation: To and From the United States, 8AM-4PM 15ITTFOC 295 370 -30 WSCPA TAX

10/21 8 Comprehending OMB Circular A-133, 8AM-4PM 15COMBOC 295 370 -30 WSCPA GNP

10/21 8 Multistate Income Tax, 8AM-4PM 15MITOC 295 370 -30 WSCPA TAX

10/22 8 Annual Tax Update: Individuals and Sole Proprietors, 8AM-4PM 15TSUIOC 295 370 -30 WSCPA TAX

10/27 8 Obama Health Care Bill & Other Federal Income Tax Update, 8AM-4PM 15PPACPAOC 295 370 WSCPA TAX

10/28 8 Basis Calculations & Distributions for Pass-Thru Entity Owners Schedule K-1 Analysis, 8AM-4PM

15BCADOC 295 370 WSCPA TAX

10/28 8 The Complete Guide to Payroll Taxes and 1099 Issues, 8AM-4PM 15CGPTOC 310 385 WSCPA TAX

10/29 8 Compilation and Review Engagement Fundamentals, 8AM-4PM 15FCREOC 295 370 -30 WSCPA A&A

10/29 8 Yellow Book: Government Auditing Standards, 8AM-4PM 15EOYBOC 295 370 -30 WSCPA GNP

10/30 8 Statement of Cash Flows: Preparation and Presentation, 8AM-4PM 15FCFSOC 295 370 -30 WSCPA A&A


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type


Register at www.wscpa.org/cpe/catalog or page 44 EDUCATION AND EVENTS


09/09 8 Excel Tips, Tricks and Techniques for Accountants, 8AM-4PM 15EXLST 295 370 WSCPA TEC


15ASURST 315 390 WSCPA A&A

09/11 8 The Business Financial Health Checkup: A Process to Identify Misstatements and Profitability Roadblocks Using Analytical Procedures by Walter Haig, 8AM-4PM

15BFHCST 315 390 WSCPA A&A

09/15 8 Advanced Controller and CFO Skills, 8AM-4PM 15ACCSST 295 370 -30 WSCPA MG

09/16 8 Financial Forecasting: Planning for Success, 8AM-4PM 15FFMDST 295 370 -30 WSCPA MG

09/17 8 Larry Stein's Essential Moves And Strategies For Retirement Wealth, 8AM-4PM 15LSRWST 300 375 WSCPA TAX

09/18 8 Larry Stein's Technical Strategies to Establish and Grow Your Eldercare, Retire-ment and Estate Planning Practice, 8AM-4PM

15LSPLST 300 375 WSCPA TAX

09/22 8 Business & Management Conference, 8AM-5PM 15BAM 255 330 Meydenbauer Center MG

09/22 16 Surgent's Audit Skills Training-Level I-New Hire, 8AM-4PM 15AUD1ST 515 630 WSCPA A&A

09/23 4 College Financial Aid-The Best Kept Secret in America, 8AM-11:30AM 15CFAST 115 150 WSCPA SK

09/24 4 E Washington CPA Ethics and New Developments by Mark Hugh (A WA Require-ment), 8AM-11:30AM

15ETMHST24 185 220 WSCPA Ethics

09/25 8 IT Risks and Controls in Current and Emerging Environments, 8AM-4PM 15ITRCST 295 370 -30 WSCPA A&A

09/26 8 Common Frauds and Internal Controls for Revenue, Purchasing, and Cash Receipts, 8AM-4PM

15CFICST 295 370 -30 WSCPA A&A

09/26 8 Form 990: A Comprehensive Approach to Accurate Preparation, 8AM-4PM 15EOF990ST 295 370 -30 WSCPA TAX

09/29 8 Clarified Auditing Standards: What You Need to Know, 8AM-4PM 15CLARST 295 370 -30 WSCPA A&A

09/29 16 Surgent's Audit Skills Training-Level II-Staff Accountant, 8AM-4PM 15AUD2ST 515 630 WSCPA A&A

09/30 8 FASB Review for Business & Industry, 8AM-4PM 15FASBIST 295 370 -30 WSCPA A&A

ç 10/01 0 Performing an Engagement Review 15PEROC 295 370 WSCPA A&A

10/02 8 Y Case Studies in Not-for-Profit Accounting and Auditing, 8AM-4PM 15CNFPOC 295 370 -30 WSCPA GNP

10/03 8 Y Accounting and Reporting Practices of Not-for-Profit Organizations, 8AM-4PM 15FSNPOOC 295 370 -30 WSCPA GNP

10/06 16 Annual Accounting and Auditing Workshop, 8AM-4PM 15AAUWOC 505 620 60 WSCPA A&A

10/06 8 Excel PivotTables for Accountants, 8AM-4PM 15EPTOC 295 370 WSCPA TEC

10/07 8 PDF Documents-Beyond the Basics, 8AM-4PM 15PBBOC 295 370 WSCPA TEC

10/08 8 Advanced Business Law for CPAs, 8AM-4PM 15ABLTOC 295 370 -30 WSCPA MG

10/09 16 SEC Reporting, 8AM-4PM 15SECROC 505 620 60 WSCPA A&A

10/14 8 Annual Update for Controllers, 8AM-4PM 15SKSBOC 295 370 -30 WSCPA MG

10/15 8 Toolkit of Best Practices for Today's Controller and Financial Manager, 8AM-4PM 15TKBPOC 295 370 -30 WSCPA MG


15CRUROC 315 390 WSCPA A&A

10/16 8 Guide to Business Combinations, Goodwill and Other Consolidation Issues, 8AM-4PM

15AGCOC 295 370 -30 WSCPA A&A


15ASUROC 315 390 WSCPA A&A

10/17 8 Revenue Recognition, 8AM-4PM 15RRNSOC 295 370 -30 WSCPA A&A

10/20 8 Frequent Frauds Found in Governments and Not-For-Profits, 8AM-4PM 15FFGNOC 295 370 -30 WSCPA GNP

10/20 8 International Taxation: To and From the United States, 8AM-4PM 15ITTFOC 295 370 -30 WSCPA TAX

10/21 8 Comprehending OMB Circular A-133, 8AM-4PM 15COMBOC 295 370 -30 WSCPA GNP

10/21 8 Multistate Income Tax, 8AM-4PM 15MITOC 295 370 -30 WSCPA TAX

10/22 8 Annual Tax Update: Individuals and Sole Proprietors, 8AM-4PM 15TSUIOC 295 370 -30 WSCPA TAX

10/27 8 Obama Health Care Bill & Other Federal Income Tax Update, 8AM-4PM 15PPACPAOC 295 370 WSCPA TAX

10/28 8 Basis Calculations & Distributions for Pass-Thru Entity Owners Schedule K-1 Analysis, 8AM-4PM

15BCADOC 295 370 WSCPA TAX

10/28 8 The Complete Guide to Payroll Taxes and 1099 Issues, 8AM-4PM 15CGPTOC 310 385 WSCPA TAX

10/29 8 Compilation and Review Engagement Fundamentals, 8AM-4PM 15FCREOC 295 370 -30 WSCPA A&A

10/29 8 Yellow Book: Government Auditing Standards, 8AM-4PM 15EOYBOC 295 370 -30 WSCPA GNP

10/30 8 Statement of Cash Flows: Preparation and Presentation, 8AM-4PM 15FCFSOC 295 370 -30 WSCPA A&A

10/31 8 Alternatives to GAAP-Using Special Purpose Frameworks, 8AM-4PM 15CTBOC 295 370 -30 WSCPA A&A

10/31 8 Applying OMB Circular A-133 to Not-for-Profit and Governmental Organizations, 8AM-4PM

15EOOMBOC 295 370 -30 WSCPA GNP

Clarkston

10/03 8 FASB Review for Business & Industry, 8AM-4PM 15FASBIOC 305 405 -30 Quality Inn Conf Ctr A&A

Coeur d’Alene

8/14 16 Accounting and Reporting Standards: An Update and Review of GAAP, Special Purpose Frameworks, Comp, Review, and Auditing Standards by Walter Haig, 8AM-4PM

15ARSURAU 570 685 The Coeur d'Alene A&A

Kennewick

8/14 8 Farm Tax Conference, 8AM-4PM 15FARMC 275 350 Three Rivers Conv Ctr SK

Lynnwood

09/04 8 Not-for-Profits: Start to Finish, 8AM-4PM 15NPARST 295 370 -30 Embassy Suites Hotel GNP

09/19 8 Larry Stein's 2014 Key Tips And Strategies For Your Self-Employed "S" Corpora-tion And LLC Clients, 8AM-4PM

15LSSLST 300 375 Embassy Suites Hotel TAX

10/29 8 Washington Tax and New Developments by Mark Hugh, 8AM-4PM 15WSTXOC29 295 370 Embassy Suites Hotel TAX

Seattle

09/02 16 Northwest Accounting Educators Conference, 8AM-4:20PM 15NAEC 240 240 Seattle University A&A

10/23 16 Pacific NW Construction Industry Conference, 8AM-4:30PM 15CIC 605 680 Bell Harbor Int’l Conf Ctr SK

10/23 0 Von Trapps Bocce Ball, 6:30PM-9PM 15NPOC23 25 30 Von Trapps PD

10/30 8 Accounting & Auditing Conference, 8AM-4:10PM 15AAC 335 410 Bell Harbor Int’l Conf Ctr A&A

10/30 16 Pacific Tax Institute, 8AM-4:30PM 15PTI 710 785 Bell Harbor Int’l Conf Ctr TAX

Spokane

10/30 8 A Practical Guide to Small Business Health Insurance and Fringe Benefits: 2014 and Beyond, 8AM-4PM

15OBCROC 310 385 Hampton Inn TAX

10/31 8 The Best S Corporation, Limited Liability and Partnership Update Course, 8AM-4PM

15BCPEOC 310 385 Hampton Inn TAX

Tacoma

10/21 8 Washington Tax and New Developments by Mark Hugh, 8AM-4PM 15WSTXOC21 295 370 Courtyard Marriott TAX

10/22 8 Y Not-for-Profit Accounting and Auditing Update, 8AM-4PM 15NAUOC 295 370 -30 Courtyard Marriott GNP

10/27 8 The Top 50 Mistakes Practitioners Make and How to Fix Them: Individual Tax and Financial Planning, 8AM-4PM

15INBBOC 310 385 Courtyard Marriott TAX

Your Desk

ç 7/29 2 Communicating Financial Information to Non-Accountants WEBINAR, 9am-11am 15WNCJL29A 79 94 Webinar A&A

7/29 8 Investment Planning Re-created: New Strategies for Today's Environment WEB-CAST, 8:30AM-4PM

15WBCJL29A 275 375 Webcast PFP

7/29 2 Marketing Management for CFOs and Other Financial Managers WEBCAST, 8AM-10AM

15WBAJL29A 79 109 Webcast MG

ç 7/29 2 Mistakes Were Made--Heads Rolled; The Responsibilities of the Governing Board WEBCAST, 11am-1pm

15WBAJL29D 79 109 Webcast GNP

7/29 1 6 Punctuation That Counts: Catch Your Mistakes Before Your Readers Do! WEB-CAST, 8AM-9AM

15WBAJL29B 59 79 Webcast PD

ç 7/29 8 Social Security, Medicare and Prescription Drug Retirement Benefits WEBCAST, 8AM-4PM

15WBWSSRB 280 355 Webcast TAX

7/29 1 6 Writing That Sells! How to Influence and Persuade on Paper WEBCAST, 9AM-10AM

15WBAJL29C 59 79 Webcast PD

7/30 1 6 Give Your Elevator Speech a Lift WEBCAST, 8AM-9AM 15WBAJL30A 59 79 Webcast PD

ç 7/30 4 Internal Controls for Technology to Mitigate Risk and Loss WEBCAST, 10am-2pm 15WBAJL30 129 159 Webcast MG

7/30 8 What Your Broker Won't Tell You About Insurance Planning WEBCAST, 8:30AM-4PM

15WBCJL30A 275 375 Webcast SK

ç 7/31 3 Fraud Deterrence, Prevention, and Detection WEBCAST, 12 pm-3pm 15WBAJL31 99 129 Webcast A&A

ç 7/31 2 Partnerships and LLCs: Tax Issues in a Sale, Liquidation, or Merger WEBINAR, 10am-12pm

15WNCJL31B 79 94 Webinar TAX

ç 7/31 2 Partnerships and LLCs: Tax Issues in the Formation of the Entity WEBINAR, 7am-9am

15WNCJL31A 79 94 Webinar TAX


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type




ç 8/01 2 Mobile Devices for Accountants WEBINAR, 9am-11am 15WNCAU01A 79 94 Webinar TEC

8/04 8 Business Plans That Work WEBCAST, 8:30AM-4:30PM 15WBCAU04A 275 375 Webcast MG

8/04 8 Business Succession Planning and Exit Strategies WEBCAST, 8:30AM-4PM 15WBCAU04B 275 375 Webcast MG

ç 8/05 8 Advanced Tax Practice WEBCAST, 8AM-4PM 15WBWATP 270 345 Webcast TAX

8/05 8 Building a CPA Practice WEBCAST, 8:30AM-4:30PM 15WBCAU05A 275 375 Webcast MG

ç 8/05 2 Fraud: 10 Scary Cases in Audits WEBINAR, 10am-12pm 15WNCAU05B 79 94 Webinar A&A

ç 8/05 2 Fraud: 10 Scary Cases in Compilations and Reviews WEBINAR, 7am-9am 15WNCAU05A 79 94 Webinar A&A

8/06 8 A Comprehensive Guide to Schedule C WEBCAST, 8:30AM-4PM 15WBCAU05B 275 375 Webcast TAX

8/06 8 Financial Statement Disclosures for the Tax Practitioner WEBCAST, 8:30AM-4PM 15WBCAU06A 275 375 Webcast A&A

ç 8/06 2 Microsoft Office 365-What You Should Know WEBINAR, 9am-11am 15WNCAU06A 79 94 Webinar TEC

ç 8/06 8 New "Repair Regs"-Sec. 263 WEBCAST, 8AM-4PM 15WBWNRR 270 345 Webcast TAX

8/06 8 Personal Financial Statements WEBCAST, 8:30AM-4:30PM 15WBCAU06B 275 375 Webcast PFP

8/06 4 E Washington CPA Ethics and New Developments by Mark Hugh (A WA Require-ment) WEBCAST, 8AM-12PM

15WBAAU06A 164 194 Webcast Ethics

8/06 4 Washington Sales Tax and New Developments by Mark Hugh WEBCAST, 12PM-4PM

15WBAAU06B 129 159 Webcast TAX

8/07 8 Federal Tax Implications of Health Care Reform WEBCAST, 8:30AM-4PM 15WBCAU07B 275 375 Webcast TAX

8/07 8 Financial Statement Analysis WEBCAST, 8:30AM-4:30PM 15WBCAU07A 275 375 Webcast A&A

ç 8/07 2 The Digital Office-Infrastructure and the Cloud WEBINAR, 11am-1pm 15WNCAU07B 79 94 Webinar TEC

ç 8/07 2 The Digital Office-The CPA Technology Toolkit WEBINAR, 8AM-10AM 15WNCAU07A 79 94 Webinar TEC

8/08 8 6 Managing Successful Teams WEBCAST, 8:30AM-4:30PM 15WBCAU08A 275 375 Webcast MG

8/08 8 Passive Activities and Rental Real Estate Income Tax Issues WEBCAST, 8:30AM-4PM

15WBCAU08B 275 375 Webcast TAX

ç 8/11 2 Excel - Preparing Your Source Data for Analysis WEBINAR, 8am-10am 15WNCAU11A 79 94 Webinar TEC

8/11 8 Personal Financial Planning in Intriguing Times WEBCAST, 8:30AM-4PM 15WBCAU11A 275 375 Webcast PFP

8/11 8 Real Estate Taxation (25% CA Content) WEBCAST, 8:30AM-4:30PM 15WBCAU11B 275 375 Webcast TAX

8/12 8 Corporate Income Tax Return Fundamentals WEBCAST, 8:30AM-4:30PM 15WBCAU12A 275 375 Webcast TAX

ç 8/12 2 Moving from Spreadsheets to the Cloud WEBINAR, 9am-11am 15WNCAU12B 79 94 Webinar TEC

8/12 8 Y Not-for-Profit Organizations: Accounting and Auditing Principles WEBCAST, 8:30AM-4PM

15WBCAU12B 275 375 Webcast GNP

ç 8/12 2 Working with the Alternative Minimum Tax WEBINAR, 7am-9am 15WNCAU12A 79 94 Webinar TAX

8/13 4 Y A133 Audits-2014 How I Can Do It Better WEBCAST, 12PM-4PM 15WBAAU13B 129 159 Webcast GNP

8/13 4 Y A133 Audits-2014 What I Need To Know WEBCAST, 8AM-12PM 15WBAAU13A 129 159 Webcast GNP

ç 8/13 2 Fraud and the Affordable Care Act WEBINAR, 7am-9am 15WNCAU13A 79 94 Webinar A&A

8/14 8 Cloud Computing: What is it and is it Right for Me? WEBCAST, 8:30AM-4PM 15WBCAU14B 275 375 Webcast TEC

ç 8/14 8 Critical Tools for Today's Controller and CFO WEBCAST, 8AM-4PM 15WBWCDLT 265 340 -30 Webcast MG

8/14 4 Y HUD Multifamily Housing Audits 2014 WEBCAST, 12PM-4PM 15WBAAU14B 129 159 Webcast GNP

8/14 8 Settled and Approved: Fiduciary Accounting from Start to Finish WEBCAST, 8:30AM-4:30PM

15WBCAU14A 275 375 Webcast A&A

ç 8/14 2 Tax Issues of Same Sex Couples WEBINAR, 10AM-12PM 15WNCAU14A 79 94 Webinar TAX

8/14 4 Y Yellow Book Audits WEBCAST, 8AM-12PM 15WBAAU14A 129 159 Webcast GNP

8/15 8 Accounting Analysis Basics WEBCAST, 8:30AM-4PM 15WBCAU15A 275 375 Webcast A&A

ç 8/15 8 Financial Statement Analysis: Basis for Management Advice WEBCAST, 8AM-4PM 15WBWFSABM 265 340 -30 Webcast A&A

8/15 4 Top 10 AMT Causes and Planning Strategies WEBCAST, 8:30AM-12PM 15WBCAU15B 138 188 Webcast TAX

8/18 8 Advanced Tax Planning Techniques WEBCAST, 8:30AM-4:30PM 15WBCAU18A 275 375 Webcast TAX

ç 8/18 2 Excel-How To Become an Excel Formula Expert WEBINAR, 9am-11am 15WNCAU18A 79 94 Webinar TEC

ç 8/19 2 Affordable Care Act-Key Issues for Employers WEBINAR, 10am-12pm 15WNCAU19B 79 94 Webinar TAX

ç 8/19 2 Affordable Care Act-Key Issues for Individuals WEBINAR, 7am-9am 15WNCAU19A 79 94 Webinar TAX

8/19 8 Controls, Risks and Financial Reporting WEBCAST, 8:30AM-4PM 15WBCAU19A 275 375 Webcast A&A

8/19 8 Everything You Need to Know About Trusts WEBCAST, 8:30AM-4:30PM 15WBCAU19B 275 375 Webcast PFP

8/20 8 GAAP Update WEBCAST, 8:30AM-4:30PM 15WBCAU20A 275 375 Webcast A&A


CONFERENCESRegister at www.wscpa.org/cpe/catalog or page 44

2014Conferences

Register now! www.wscpa.org/conferences

SEP 2-3

Northwest Account ingEducators Conference

NOV 20-21

Not-For-Prof i t Conference

OCT 30-31

Pac i f ic Tax Inst i tute

OCT 30

Account ing & Audit ing Conference

SEP 22

Bus iness & Management Conference

DEC 5

Fraud Conference

DEC 8-9

Informat ion Technology Conference

OCT 23-24

Paci f ic NW Construct ion Industr y Conference

AUG 14

Farm Tax Conference


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type




ç 8/20 8 Internal Control: Essentials for Accountants, and Auditors WEBCAST, 8AM-4PM 15WBWICDAD 265 340 -30 Webcast A&A

8/21 8 Documentation Requirements, Design and Reviewing Techniques of Workpapers WEBCAST, 8:30AM-4:30PM


ç 8/21 2 iPad-50 Settings You Need To Know In 100 Minutes WEBINAR, 11am-1pm 15WNCAU21B 79 94 Webinar TEC

ç 8/21 2 Passive Activities-A Primer WEBINAR, 7am-9am 15WNCAU21A 79 94 Webinar TAX

ç 8/21 8 Preventing and Detecting Identity Theft WEBCAST, 8AM-4PM 15WBWIDENT 265 340 -30 Webcast A&A

8/22 8 Enterprise Risk Management for Small and Medium-Sized Enterprises: Enhance Fraud Protection and Profitability in Your Organization WEBCAST, 8:30AM-4PM


ç 8/22 2 Know Your Costs: Double Your Profit WEBINAR, 9am-11am 15WNCAU22A 79 94 Webinar MG

8/25 8 Fair Value: Explained and Updated WEBCAST, 8:30AM-4:30PM 15WBCAU25A 275 375 Webcast A&A

ç 8/25 2 Profitable Pricing: Accounting's Role WEBINAR, 9am-11am 15WNCAU25A 79 94 Webinar MG

ç 8/26 2 Closing Best Practices-Shortening Month End WEBINAR, 6am-8am 15WNCAU26A 79 94 Webinar A&A

ç 8/26 2 Fraud Alert-How Fraud Can Impact You! WEBINAR, 9am-11am 15WNCAU26B 79 94 Webinar A&A


15WBAAU26A 79 109 Webcast MG


15WBAAU26B 59 79 Webcast PD


15WBAAU26C 59 79 Webcast PD

ç 8/27 2 6 Critical Thinking Skills for Finance and Accounting Professionals WEBINAR, 9am-11am

15WNCAU27A 79 94 Webinar PD

8/27 1 6 Give Your Elevator Speech a Lift WEBCAST, 8AM-9AM 15WBAAU27A 59 79 Webcast PD

8/27 8 Retirement Distributions: Planning Options WEBCAST, 8:30AM-4PM 15WBCAU27A 275 375 Webcast PFP

ç 8/27 8 Washington Tax and New Developments by Mark Hugh WEBCAST, 8AM-4PM 15WBWWSTX 265 340 Webcast TAX

ç 8/28 2 Detecting and Deterring Fraud in Small Businesses WEBINAR, 7am-9am 15WNCAU28A 79 94 Webinar GNP

ç 8/28 2 Detecting and Deterring Payroll Fraud WEBINAR, 10am-12pm 15WNCAU28C 79 94 Webinar A&A

ç 8/28 2 Google Apps for Accountants WEBINAR, 9am-11am 15WNCAU28B 79 94 Webinar TEC

8/28 8 Y HUD Audits of Multifamily Housing Projects: Audit Requirements Under the HUD Audit Guide and A-133WEBCAST, 8:30AM-4PM

15WBCAU28A 275 375 Webcast GNP

8/28 8 Revenue: Past, Present and Future WEBCAST, 8:30AM-4PM 15WBCAU28B 275 375 Webcast A&A

ç 8/28 8 The Top Business Tax Mistakes Practitioners Make and How to Fix Them WEB-CAST, 8AM-4PM

15WBWBTBB 280 355 Webcast TAX

8/29 8 Y A-133 Audits: A Case Study Approach WEBCAST, 8:30AM-4PM 15WBCAU29A 275 375 Webcast GNP

8/29 8 Financial Reporting: Your Guide to Reading IFRS Annual Financial Reports WEB-CAST, 8:30AM-4PM

15WBCAU29B 275 375 Webcast A&A

ç 8/29 8 Surgent McCoy's Handbook for Mastering Basis, Distributions and Loss Limitation Issues WEBCAST, 8AM-4PM

15WBWHMBI 280 355 Webcast TAX

ç 09/02 2 401(k)s and Retirement Plans For Small Businesses WEBCAST, 12pm-2pm 15WBAST02C 79 109 Webcast PFP

ç 09/02 2 Understanding When to Take Social Security WEBCAST, 10am-12pm 15WBAST02B 79 109 Webcast PFP

ç 09/02 2 Your Clients Medicare Benefits and Solutions to Long Term Care WEBCAST, 8am-10am

15WBAST02A 79 109 Webcast PFP

ç 09/03 2 Excel-Preparing Your Source Data for Analysis WEBINAR, 8am-10am 15WNCST03A 79 94 Webinar TEC

ç 09/03 2 iPad/Tablet-Managing Your Files Using Cloud Storage WEBINAR, 11am-1pm 15WNCST03B 79 94 Webinar TEC

ç 09/04 2 Excel-How To Become an Excel Formula Expert WEBINAR, 11am-1pm 15WNCST04A 79 94 Webinar TEC

ç 09/04 8 Implementing the Right Business Technology EVENING WEBCAST, 3pm-11pm 15WBSST04A 195 245 Webcast TEC

ç 09/04 4 Rebuilding a Successful Retirement WEBCAST, 10am-2pm 15WBAST04A 129 159 Webcast PFP

ç 09/04 4 Taking Your Business Paperless EVENING WEBCAST, 3pm-7pm 15WBSST04B 129 159 Webcast TEC

09/05 8 Financial Statement Preparation for Your QuickBooks Clients WEBCAST, 8:30AM-4PM

15WBCST05A 275 375 Webcast A&A

ç 09/06 2 6 Taking the Financial Executive's Leadership to the Next Level SATURDAY WEB-CAST, 7am-9am

15WBSST06A 79 109 Webcast MG

09/08 4 Y A133 Audits-2014 What I Need To Know WEBCAST EVENING, 1PM-5PM 15WBSSP08A 129 159 Webcast GNP

09/08 8 Basic Accounting and Auditing for the Construction Industry WEBCAST, 8:30AM-4:30PM



Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type




ç 09/08 2 Bitcoin-What You Should Know About This Digital Currency WEBINAR, 9am-11am

15WNCST08B 79 94 Webinar TEC

ç 09/08 2 Y Fraud and Abuse in Government Entities WEBINAR, 7am-9am 15WNCST08A 79 94 Webinar GNP

ç 09/08 2 Microsoft Outlook and Word 2010: Productivity Tips and Tricks WEBCAST, 12pm-2pm

15WBAST08B 109 139 Webcast TEC

ç 09/08 2 Using Performance Metrics to Improve Financial Planning and Control WEBCAST, 7am-9am

15WBAST08A 79 109 Webcast MG

09/08 4 Y Yellow Book Audits WEBCAST EVENING, 1PM-5PM 15WBSSP08B 129 159 Webcast GNP

ç 09/09 2 Business Use of a Home and Vacation Home Rentals Rules-What You Need to Know WEBINAR, 8am-10am

15WNCST09A 79 94 Webinar TAX

ç 09/09 8 Compilation and Review Standards: the Annual Update and Review by Walter Haig WEBCAST, 8AM-4PM

15WBWCRURS 285 360 Webcast A&A

ç 09/09 2 6 How Good Companies Become Great WEBCAST, 9am-11am 15WBAST09A 79 109 Webcast MG

ç 09/10 8 2014 Accounting and Auditing Update WEBCAST, 7am-9am 15WBAST10A 195 225 Webcast A&A

ç 09/10 4 Annual Compilation Update – A Seminar Designed for Smaller Firms 2014 EVE-NING WEBCAST, 2pm-6pm

15WBSST10A 129 159 Webcast A&A

09/10 8 Complex Accounting and Auditing Issues for the Construction Industry WEB-CAST, 8:30AM-4:30PM


ç 09/10 2 6 The CFO: 5 Critical Skills to Become a Leader WEBINAR, 7am-9am 15WNCST10A 79 94 Webinar MG


15WBASP10A 164 194 Webcast Ethics


15WBASP10B 129 159 Webcast TAX

ç 09/11 8 2014 Compilation and Reveiw Update WEBCAST, 11am-7pm 15WBAST11A 195 225 Webcast A&A

09/11 4 Y A133 Audits-2014 How I Can Do It Better WEBCAST EVENING, 1PM-5PM 15WBSSP11A 129 159 Webcast GNP

09/11 4 Y HUD Multifamily Housing Audits 2014 WEBCAST EVENING, 1PM-5PM 15WBSSP11B 129 159 Webcast GNP

ç 09/11 2 Real Estate Tax-Recent Tax Changes Owners and Investors Need to Know WEBINAR, 8am-10am

15WNCST11A 79 94 Webinar TAX

ç 09/11 2 Travel & Entertainment Expenses: Review & Update WEBINAR, 11am-1pm 15WNCST11B 79 94 Webinar TAX

ç 09/12 2 Benford's Law-A Valuable Audit Tool WEBCAST, 2pm-4pm 15WBAST12B 79 109 Webcast A&A

ç 09/12 2 Crowdsourcing and Collaborative Consumption Tools for Accountants WEBINAR, 10am-12pm

15WNCST12A 79 94 Webinar MG

ç 09/12 3 Fraud Deterrence, Prevention, and Detection WEBCAST, 9am-12pm 15WBAST12A 99 129 Webcast A&A

ç 09/15 2 Everything CPAs Need to Know About Detecting Ponzi Schemes WEBINAR, 10am-12pm

15WNCST15B 79 94 Webinar A&A

ç 09/15 2 Get Your Notes Organized With Microsoft OneNote WEBINAR, 9am-11am 15WNCST15A 79 94 Webinar TEC

ç 09/15 2 The Top 10 Legal Mistakes Companies Make and How to Avoid Them WEBCAST, 7am-9am

15WBAST15A 79 109 Webcast MG

ç 09/16 2 Detecting and Preventing Internal Fraud, Theft and Abuse WEBINAR, 7am-9am 15WNCST16A 79 94 Webinar A&A

ç 09/16 2 Financial Accounting for Related Party Transactions WEBINAR, 11am-1pm 15WNCST16C 79 94 Webinar A&A

ç 09/16 2 Nonprofit Grant Writing: A Financial Manager's Primer WEBCAST, 9am-11am 15WBAST16A 79 109 Webcast MG

ç 09/16 2 Preventing Legal Issues on Construction Projects WEBCAST, 11am-1pm 15WBAST16B 79 109 Webcast MG

ç 09/16 2 Profit Improvement: Use Process Analysis to Identify Opportunities WEBINAR, 9am-11am

15WNCST16B 79 94 Webinar MG

ç 09/18 8 6 Don’t Go to Work Unless It's Fun! How CPAs and Financial Professionals Can Become Happier and More Productive WEBCAST, 8AM-4PM

15WBAST18A 195 245 Webcast PD

ç 09/18 2 S Corporations: Financial Accounting-Part 1 WEBINAR, 8 AM-10 AM 15WNCST18A 79 94 Webinar A&A

ç 09/18 2 S Corporations: Financial Accounting-Part 2 WEBINAR, 11am-1pm 15WNCST18B 79 94 Webinar A&A

ç 09/19 8 6 Effective Writing for CPAs: Simplify the Process; Simplify the Product; Manage Email WEBCAST, 8AM-4PM

15WBAST19A 195 245 Webcast PD

09/19 8 GAAP Update WEBCAST, 8:30AM-4:30PM 15WBCST19A 275 375 Webcast A&A

ç 09/20 3 Accounting IS Changing! Are YOU Ready? Goals, Strategy, Scorecard, KPIs, Budget-ing, Improvement, Compensation: Module II SATURDAY WEBCAST, 8am-11am

15WBSST20B 99 129 Webcast A&A

ç 09/20 0 Accounting IS Changing! Are YOU Ready? Predictive Not Historic – Module III SATURDAY WEBCAST, 11am-1pm

15WBSST20D 79 109 Webcast A&A


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type




ç 09/20 4 Mergers & Acquisitions: Tricks, Traps, & Terrors SATURDAY WEBCAST, 10am-2pm 15WBSST20C 129 159 Webcast MG

ç 09/20 1 Preparing for a CFO Role SATURDAY WEBCAST, 7am-8am 15WBSST20A 59 79 Webcast MG

09/22 8 Foreign Information Tax Returns and the IRS Offshore Voluntary Disclosure Program WEBCAST, 8:30AM-4:30PM

15WBCST22A 275 375 Webcast TAX

09/22 8 Motion Picture and Television Industry: Accounting & Auditing Overview WEB-CAST, 8:30AM-4:30PM

15WBCST22B 275 375 Webcast SK

ç 09/22 2 The CFOs Role in Banking and Financing WEBCAST, 11am-1pm 15WBAST22A 79 109 Webcast MG

ç 09/23 2 Affordable Care Act-Key Issues for Employers WEBINAR, 11am-1pm 15WNCST23C 79 94 Webinar TAX

ç 09/23 2 B Corporations and L3Cs: New Corporate Forms for Responsible Businesses WEBINAR, 9am-11am

15WNCST23B 79 94 Webinar MG

ç 09/23 2 Better Performance Plans: The Microeconomics of Motivating Your Team WEBI-NAR, 6am-8am

15WNCST23A 79 94 Webinar MG

ç 09/23 4 College Financial Aid-The Best Kept Secret in America WEBCAST, 8am-11:30am 15WBWCFA 110 145 Webcast SK

ç 09/24 2 Detecting and Deterring Fraud in Small Businesses WEBINAR, 12pm-2pm 15WNCST24C 79 94 Webinar A&A

ç 09/24 2 Running Your Business on the Go WEBINAR, 11am-1pm 15WNCST24B 94 0 Webinar TEC

ç 09/24 2 Wearable Computing for Accountants WEBINAR, 9am-11am 15WNCST24A 94 0 Webinar TEC

ç 09/25 2 Financial Accounting for LLCs and Partnerships-Part 1 WEBINAR, 8am-10am 15WNCST25A 79 94 Webinar A&A

ç 09/25 2 Financial Accounting for LLCs and Partnerships-Part 2 WEBINAR, 11am-1pm 15WNCST25C 79 94 Webinar A&A

ç 09/25 8 IT Risks and Controls in Current and Emerging Environments WEBCAST, 8AM-4PM

15WBWITRC 265 340 -30 Webcast A&A

09/25 8 6 Marketing the CPA in Public Practice WEBCAST, 8:30AM-4PM 15WBCST25A 275 375 Webcast PD

ç 09/25 2 Twitter for Accountants WEBINAR, 9am-11am 15WNCST25B 79 94 Webinar TEC

09/26 8 Annual Financial Management Spotlight: 4 Current Topics WEBCAST, 8:30AM-4PM 15WBCST26A 275 375 Webcast MG

ç 09/26 8 Common Frauds and Internal Controls for Revenue, Purchasing, and Cash Receipts WEBCAST, 8AM-4PM

15WBWCFIC 265 340 -30 Webcast A&A

ç 09/26 2 Internet of Things for Accountants WEBINAR, 10am-12pm 15WNCST26A 79 94 Webinar TEC

ç 09/26 2 iPad/Tablets-Top Business Apps That Every CPA Should Have WEBINAR, 11am-1pm

15WNCST26B 79 94 Webinar TEC

ç 09/26 4 6 Triple Your Memory and Confidence, and Halve Your Stress WEBCAST, 11am-3pm 15WBAST26A 129 159 Webcast PD

ç 09/29 2 Interviewing and Interrogation WEBCAST, 2pm-4pm 15WBAST29B 79 109 Webcast A&A

ç 09/29 2 The ZZZZ Best Story: Ex-Con, Z Best CFO, Shares Techniques On How To Detect And Prevent Fraud WEBINAR, 11am-1pm

15WNCST29A 79 94 Webinar SK

ç 09/29 2 What Does Fraud Look Like WEBCAST, 8am-11am 15WBAST29A 79 109 Webcast A&A


15WBASP30A 79 109 Webcast MG

ç 09/30 2 The Financial Manager's Role in Risk Analysis and Management WEBINAR, 11am-1pm

15WNCST30A 79 94 Webinar A&A


15WBAOC01A 164 194 Webcast Ethics


15WBAOC01B 129 159 Webcast TAX


15WBAOC02A 59 79 Webcast PD

10/02 4 6 The Public Accounting Firm is Flat WEBCAST, 8:30AM-12PM 15WBCOC02A 138 188 Webcast MG


15WBAOC02B 59 79 Webcast PD

10/03 8 Small Business Internal Control, Security and Fraud Prevention and Detection WEBCAST, 8:30AM-4PM

15WBCOC03A 275 375 Webcast A&A

10/04 4 Y A133 Audits-2014 What I Need To Know WEBCAST SATURDAY, 9AM-1PM 15WBSOC04A 129 159 Webcast GNP

10/04 4 Y Yellow Book Audits WEBCAST SATURDAY, 9AM-1PM 15WBSOC04B 129 159 Webcast GNP

10/07 8 Audits of 401(k) Plans WEBCAST, 8:30AM-4PM 15WBCOC07A 275 375 Webcast A&A

10/07 1 6 Give Your Elevator Speech a Lift WEBCAST, 8AM-9AM 15WBAOC07A 59 79 Webcast PD

10/08 8 Disclosure: The Key to Financial Statements WEBCAST, 8:30AM-4PM 15WBCOC08A 275 375 Webcast A&A

ç 10/14 8 Annual Update for Controllers WEBCAST, 8AM-4PM 15WBWSKSB 265 340 -30 Webcast MG


Fees

Date CPE Credits


Non- MemberFee


Facility Subject

# Type




New CPE programs are added regularly to the online catalog: www.wscpa.org/CPE/catalog

Questions? Need assistance finding a CPE program? Call (800) 272-8273 (Toll-free in WA) or (425) 644-4800.

ç 10/15 8 Toolkit of Best Practices for Today's Controller and Financial Manager WEBCAST, 8AM-4PM

15WBWTKBP 265 340 -30 Webcast MG

ç 10/16 8 , Compilation and Review Standards: the Annual Update and Review by Walter Haig WEBCAST, 8AM-4PM

15WBW-CRURO

285 360 Webcast A&A

10/16 4 Form 990-Private Foundations Basics WEBCAST, 8:30AM-12PM 15WBCOC16A 138 188 Webcast GNP

10/17 8 Private Company Accounting: New Challenges, New Directions WEBCAST, 8:30AM-4PM


10/20 8 Dealing with Venture Capitalists WEBCAST, 8:30AM-4:30PM 15WBCOC20C 275 375 Webcast MG

ç 10/20 8 International Taxation: To and From the United States WEBCAST, 8AM-4PM 15WBWITTF 265 340 -30 Webcast TAX

10/20 8 Preparing Form 5500 WEBCAST, 8:30AM-4PM 15WBCOC20A 275 375 Webcast TAX

10/20 8 Reformatted Financial Statements 2014: Is the Endgame in Sight? WEBCAST, 8:30AM-4PM

15WBCOC20B 275 375 Webcast A&A

10/21 8 Clients for Life: Retain Your Top Clients to Maximize Business Growth WEBCAST, 8:30AM-4PM

15WBCOC21A 275 375 Webcast MG

ç 10/21 8 Multistate Income Tax WEBCAST, 8AM-4PM 15WBWMIT 265 340 -30 Webcast TAX

ç 10/22 8 Annual Tax Update: Individuals and Sole Proprietors WEBCAST 15WBWTSUI 265 340 -30 Webcast TAX

10/22 8 Controls, Risks and Financial Reporting WEBCAST, 8:30AM-4PM 15WBCOC22A 275 375 Webcast A&A

10/22 8 Hedging Risks of Foreign Operations and Currency Transactions WEBCAST, 8:30AM-4PM


10/23 8 Cash and Credit Management WEBCAST, 8:30AM-4PM 15WBCOC23A 275 375 Webcast A&A

10/23 4 Form 990 Basics WEBCAST, 8:30AM-12PM 15WBCOC23B 138 188 Webcast GNP

10/23 8 Small Business Internal Control, Security and Fraud Prevention and Detection WEBCAST, 8:30AM-4PM

15WBCOC23C 275 375 Webcast A&A

10/24 8 FIN 48: Accounting for Uncertain Tax Positions (ASC Topic 740.10) WEBCAST, 8:30AM-4PM


10/24 8 Passive Activities and Rental Real Estate Income Tax Issues WEBCAST, 8:30AM-4PM

15WBCOC24B 275 375 Webcast TAX

10/25 4 Y A133 Audits-2014 How I Can Do It Better WEBCAST SATURDAY, 9AM-1PM 15WBSOC25A 129 159 Webcast GNP

10/25 4 Y HUD Multifamily Housing Audits 2014 WEBCAST SATURDAY, 9AM-1PM 15WBSOC25B 129 159 Webcast GNP

10/27 8 Advising Clients of Social Security Benefits WEBCAST, 8:30AM-4:30PM 15WBCOC27B 275 375 Webcast PFP

10/27 8 Compilations and Reviews: Risks, Procedures and Fraud WEBCAST, 8:30AM-4:30PM


10/28 8 Internal Control: Your Number-One Defense Against Errors and Fraud WEBCAST, 8:30AM-4:30PM



15WBAOC28A 79 109 Webcast MG

10/28 8 Partnership and LLC Taxation: Advanced Issues, Including Transfers of Interests and Liquidations WEBCAST, 8:30AM-4:30PM

15WBCOC28B 275 375 Webcast TAX

10/29 8 C Advanced Personal Financial Planning Update WEBCAST, 8:30AM-4PM 15WBCOC29A 275 375 Webcast PFP

10/29 8 Settled and Approved: Fiduciary Accounting from Start to Finish WEBCAST, 8:30AM-4:30PM


10/30 8 Basis Calculations & Distributions for Pass-Through Entity Owners: Schedule K-1 Analysis WEBCAST, 8:30AM-4PM

15WBCOC30A 275 375 Webcast TAX

10/30 8 Compilation and Review Practice Guide WEBCAST, 8:30AM-4PM 15WBCOC30B 275 375 Webcast A&A

10/30 8 Key Ratio Analysis WEBCAST, 8:30AM-4PM 15WBCOC30C 275 375 Webcast A&A

10/30 16 Pacific Tax Institute WEBCAST, 8AM-4:30PM 15WBPTI 610 685 Webcast TAX


15WBAOC30A 59 79 Webcast PD


15WBAOC30B 59 79 Webcast PD

10/31 8 Detecting Fraudulent Financial Reporting WEBCAST, 8:30AM-4:30PM 15WBCOC31A 275 375 Webcast A&A

10/31 8 Tax Practitioner's Guide to Accounting and Reporting Issues WEBCAST, 8:30AM-4PM



REGISTRATION Register at www.wscpa.org/cpe/catalog

Code Title Date City Fee1

3

Register online with credit card at www.wscpa.org/cpe/catalog or:

Questions? E-mail [email protected] or call the WSCPA.

2

2

• Call (425) 644-4800 or (800) 272-8273 (toll-free in Washington)

To pay by credit card, please visit www.wscpa.org/cpe/catalog or call (425) 644-4800.

• Mail form with check to WSCPA, 902 140th Ave NE, Bellevue, WA 98005-3480

WSCPA CPE policies apply to all programs in the CPE Digest. Review the CPE policies at www.wscpa.org.


CLASSIFIED ADS

Detailed advertising information is available online at www.wscpa.org. Ads are $1 per word with a minimum fee of $50. Active e-mail and website addresses are included. Classified ads are placed on the website for 60 days when received and in the next magazine when received by the deadline, September 1 for the Fall 2014 issue. Positions available ads are no longer available in the magazine. To post a job listing, visit www.wscpa.org (click Job Board). Want to list a rental or vacation property? Use the Miscellaneous category. Contact Janet White at (425) 586-1126, (800) 272-8273, Ext. 1126, or [email protected] for more information. All ads must be pre-paid. Find classified ads at www.wscpa.org under More.

OFFICE SPACEBusiness Opportunity – Tacoma Office Space To Share. Tacoma two person CPA firm has office space to share with sole practitioner, or someone leaving a large firm with book of business-ultimate goal is merger. All inquiries held in strict confidentiality! Call 253-471-0170.

Office space in CPA Firm - Lake Union/Fremont. 204 sq. ft. professional office available inside CPA firm office space located on Lake Union, close to the Fremont Bridge. Annual rate of $29.50 per sq. ft. Free public parking in lot in front of building. Great location! Contact Infor-mation: Hellman Joanna M, [email protected] or (206)726-7899

Queen Anne, Lower. Looking for office space with other CPAs - own office, office share, upsize or down-size? Tenants all CPAs. In Amazon’s backyard, great demographics. Newly remodeled, private entrance, kitchen, ADA bathroom, HVAC, 1,087 SqFt, $1,245/mo. Inclusive. LindleyPropertiesLLC.com. or [email protected].

MERGERS & SALESKent-based CPA interested in purchasing all or part of an existing CPA practice, preferably in the South King or Bellevue area. Buyer is open-minded as to pos-sible transition plans as well as pricing options. I’ll pay fair value for solid clients, allowing you to keep more in your pocket. Ideal opportunity for a veteran CPA looking to retire completely or simply scale back their practice. Don’t just send your clients elsewhere, call me first and let’s talk. Please contact Randy at (253) 234-5732 or email [email protected].

Redmond CPA Firm Seeks to Expand Through Merger/Acquisition. We are looking to acquire or merge with a retirement minded CPA in the Redmond/Eastside area. We have over 25 years experience in public practice. Current practice is tax, audit, write-up, business valuations, and general consulting. We offer all the major services of a CPA practice. Whether you are looking to sell all or part of your practice and slowdown, or are looking at the next year or two, we would be interested in meeting with you privately to discuss the arrangements. Please call me at your earliest convenience at (425) 890-4932.

Puyallup CPA Firm Seeking to Expand Practice. We are looking to acquire or merge with a retirement minded CPA in the Puyallup/Pierce county area. We have over 25 years experience in public practice. Current practice is tax, audit, write-up, business valuations, and general consulting. We offer all the major services of a CPA practice. Whether you are looking to sell all or part of your practice and slowdown, or are looking at the next year or two, we would be interested in meeting with you privately to discuss the arrangements. Please call me at your earliest convenience at (425) 890-4932.

PRACTICES FOR SALE

Contact Mark Hause at Accounting Practice Sales by e-mail at [email protected] or call (877) 345-7722 for more information on the following practices:

(WA1080) Spokane CPA Practice For Sale: This excellent CPA practice in a prime location is priced for immediate sale. The firm’s revenue dollars are varied but with an emphasis on income tax. The revenue mix is 76% income tax, 13% write-up, 10% consulting and the balance a compilation engagement. What sets this practice apart from many are the fees per return which are well above average. The ideal buyer for this practice will be an experienced professional(s) who enjoy helping clients with their annual tax and accounting, who seek realization rates well above the norm and who want immediate pos-session of a unique opportunity.

(WA1082) Whitman County/Pullman Area (SE WA) Tax Practice: This firm with a nice bal-ance of write-up and tax work is for sale. The revenue mix of the practice breaks out 88% income tax and 12% write-up. The office facility has some options for the buyer by being leased on a month to month basis along with being located on a high traffic count street. These factors create a great deal of flexibility on the location for the practice. This firm is the perfect opportunity for any accountant looking for a nice starter practice or a great add on to an established firm with the capacity to absorb additional work.

(WA1075) Vancouver CPA Practice for Sale: This CPA practice is seeking a merger and/or sale. The practice is very typical in that the majority of revenues are from income tax with the balance in write-up and consulting services. Without question, the owner is the rainmaker and driving force behind this practice. Given the need for an exit strategy, the owner wants to begin the process of transitioning the practice via merger or sale. The buyer would acquire a substantial practice with a sizable client base, an owner who wants to effectively transition toward his/her successor, and a commitment to continue in the rainmaking role while rendering professional services at a lesser pace than the past.

(WA1077) Seattle CPA Practice for Sale: This CPA practice is a firm that is a proven entity that provides a wide variety of services but has not provided any auditing or attestation in over ten years. The hallmark of this firm is the retention of clients and continuity of professionals rendering these services. Further, the firm has per return averages well above average that provides a net cash flow that is easily in the top percentile of firms this size in gross revenue. Any buyer will acquire a firm where all the hard work of building a practice has been completed and is primed for continued prosperity. This practice is available for immediate possession coupled with an owner that seeks to assist in a solid transition.

(WA1078) Port Orchard EA & Write-Up Practice for Sale: This EA practice is for sale. The practice is a tax and write-up practice with equal amounts of both professional services and a small amount of consulting. The firm has grown significantly in the recent year with a 35% increase in fees. The billing philosophy of the owner is a fee structure based on a by-the-job basis and not hourly. The result is an

excellent realization rate on services performed that makes for a well above average profit percentage. This practice is a perfect opportunity for any accountant starting out on their own or a firm looking to add a solid base of clients.

(WA1079) Auburn, Sumner, Puyallup Area EA Tax Practice for Sale: This EA firm has owner(s) that want to sell and retire. The firm has a good mix of professional services that provides good year round income and not just tax season. The firm’s revenue mix is 63% income tax, 25% write-up, 7% payroll services with the balance being consulting. The office lease offers a great deal of flexibility for a new owner with the current agreement being on a month-to-month basis. The buyer of this practice will acquire a busi-ness well known in the community, with an excellent reputation for personal service, very good realization rates, and a year round income stream.

(WA1073) Island County EA Tax Practice for Sale: This well-established Enrolled Agent practice is for sale. The firm is well balanced with a tax practice that produces 71% of the firm’s revenue with write-up generating the remainder of the income. The practice is well positioned for future growth due to having a solid staff serving long term clients. The seller is retiring but will be available to assist in transition. For any firm looking for a satellite office, an existing practice wishing to branch out, or an individual who has aspirations of getting out on their own, this practice is an excellent choice.

(WA1070) Island County Area Tax Practice for Sale: This practice is a straight up tax practice with a broad spectrum of clients. The firm is full of long time clients who are serviced by the owner and a staff of over 100 years of experience. The revenues come from income tax 82%, write-up 16%, and misc. services of 2%. The fee averages are good with the individual returns averaging $350 and business returns $824. The practice is primed for a new owner that wants to start a practice or an expansion focused buyer. The timing could not be better for this opportunity.

(WA1069) Poulsbo CPA Tax Practice for Sale: This solid CPA practice with an excellent client base is for sale. The firm is full of satisfied clients who refer approx. 95% of all new clients. The firm with this kind of reputation works extremely hard at providing excellent service to a client base with a health mix of all types of clients. As with most firms, the practice mix consists of mostly individual returns but does have business returns as well. For buyers looking for an established practice or firms seeking markets for new growth this firm in one you should inquire about.

(WA1068) Seattle Tax Practice For Sale: This accounting firm is a tax and write-up practice that was formed 38 years ago. The mix of professional services is approx. 65% income tax, 32% write-up, and 3% consulting with excellent per return fees. The firm has always stressed excellent service to its clients. The result is a practice filled with long-term clients who refer excellent new clients. The firm’s clients interact with the practice generally by phone, mail, and electronic media making this practice one with very little walk in business. Most clients are located or work in the Seattle Central Metropolitan area and appreciate easy driving access of a neighborhood office location for those times when in person meetings are

continued on page 46


CLASSIFIED ADS

Small Seattle CPA Firm for Sale. North Seattle CPA firm, mostly tax practice with 0% financial statement preparation. Annual revenue of $275,000 to $285,000. Long term clientele, with $0 walk-in. Building available for long or short term lease. Owner retiring, but willing to work a couple years for successful transition. Please e-mail inquiries to [email protected]

Business Opportunity – Tacoma Office Space To Share. Tacoma two person CPA firm has office space to share with sole practitioner, or someone leaving a large firm with book of business-ultimate goal is merger. All inquiries held in strict confidentiality! Call 253-471-0170.

Seattle CPA tax practice. Seattle CPA tax practice for sale. Owner retiring after 30 years in same location. Stable and loyal client base in a niche industry. High rate realization and 2013 cash flow to owner in excess of $300,000. This one and ½ employee firm is busy 10 plus months a year. Well organized and efficient processes. Will only consider CPAs with a Masters in Taxation or equivalent experience and current continuing education. Submit CV or resume and letter of interest to [email protected].

Considering Selling Your Practice? Consider all your options. We do the work. Confidential. We have buyers actively seeking practices. Call Mark Hause at (877) 345-7722 or visit our website at www.accountingpracticesales.com Accounting Practice Sales. We make dreams happen!

IBA Sells Privately Held Companies. Do you represent a client who is ready to retire or has taken a company as far as they want to or can? IBA is the Pacific Northwest’s oldest business brokerage (M&A) firm. We are professional negotiators with over 4000 completed transactions. Please contact us if we can be of assistance at (800) 218-4422 or www.ibainc.com

San Juan Islands CPA Firm Available for Rock Star CPA. Are you ready to leave the big firm grind behind you and be your own boss? Unique opportunity for the right individual to own the top tax firm in the San Juan Islands and live the island lifestyle while making six figure income. To find out if you qualify for this opportunity email me at: [email protected].

desired or necessary. In recent years, the practice has been pruned to allow the owner to transition to retirement, yet total fees have continued to increase. What remains are clients who are the envy of many firms. This practice is an ideal purchase opportunity for any professional looking for financial reward and professional challenge.

(WA1063) North Olympic Peninsula-Clallam County CPA Practice for Sale: This firm is a tax practice that many seek but few find with a sig-nificant amount of business returns coupled with the personal income tax returns that follow. The firm has an excellent location with a high traffic count which fosters walk-in business. The perfect buyer for this practice is a financially successful CPA looking for a practice that has a solid year round income from a variety of fiscal year ends that provides a relaxed pace and good work life balance.

(WA1065) South Puget Sound Area-CPA Practice for Sale: This CPA practice has a broad range of clients with no concentration in one area and a broad range of services that are rendered in the areas of income tax, auditing, and financial services. The firm has a history of stability that has fostered excellent client relationships that provide consistent referrals. This firm is further enhanced by an outstand-ing staff that has outstanding credentials making this firm unique in its ability to provide quality professional services at all service levels to all clients. The financial advisory segment of this practice makes it an obvious advantage for any firm looking to add to their suite of professional services. Any firm with designs on expanding services, looking for expertise, along with an outstanding client list has found an opportunity that is hard to beat with this firm.

PRACTICES FOR SALE

continued from page 45

Options to transition. Only know one option to transition – sell? Lindley and Co has capacity for merging or staff sharing, private offices, central production room/kitchen and space for lease on-site. We are looking for CPA who wants to transition “their” way on “their” terms – who wants options. Centrally located in lower Queen Anne. On-line at LindleyandCo.com and Lindley-PropertiesLLC.com.

VOLUNTEER POSITIONSThe following organizations need a CPA to serve on the board of directors and/or provide other guidance on financial matters. Learn more at www.wscpa.org (click Volunteer Opportunities on the footer)Accounting for International Development (AfID) - 3Bellevue CollegeBellevue Police Department Centerstone First Place SchoolFootloose Sailing Association - newHelping Link / Mot Dau Noi - newLadybug House Mercer Island Visual Arts LeagueNAMI (National Alliance on Mental Illness) - newOpen Arms Perinatal Services - newPacific Northwest Diabetes Research Institute - newPet Partners - newPratt Fine ArtsPROVAIL Puget Sound Christian ClinicSeattle Glee ClubsSenior Life Resources Northwest - new Skagit Fisheries Enhancement Group The Project RoomWashington Water TrustWithinReach


MEMBER PROFILE

Washington State Bar Association’s Taxation Law Section recently bestowed the 2014 Roger L. Stouder Award to Rodney J. Waldbaum, an attorney and inactive CPA with more than 40 years of experience in the tax field.

The award is presented on occasion to exemplary tax practitioners in recognition of their dedication to the tax community, exceptional skills in the field of taxation, and display of professionalism.

Rod served as President of the Taxation Law Section in 1993-1994.

“I am most honored to have received this lifetime achievement award,” said Rod.

“In addition to having the ability, drive, and professional commitment needed to win this award, Rod has another advantage over the rest of us—he started out in the business world much earlier than we did,” said Judd Marten, a fellow partner of Rod’s at LeSourd & Patten, a boutique law firm in Seattle.

“Rod’s wife, Nina, tells a story about Rod, in the seventh grade, hiring fifth and sixth graders to stake out corners in downtown Seattle on New Year’s Eve, selling hats and horns to people passing by. Rod had permission from store owners, and only one busi-ness license—so he was busy going from corner to corner—but his employees got paid and he turned a profit.”

Rod went on to become senior class president of the class of 1963 at Garfield High School, where he and Nina were high school sweethearts.

A graduate of the University of Washington (UW), Rod earned his JD degree from the UW School of Law in 1970 and his CPA license in 1971. He worked for Arthur Andersen for a time, before leaving to join LeSourd & Patten.

“When I left Arthur Andersen in 1971, I never envisioned that LeSourd & Patten would outlast Arthur Andersen,” Rod recalls.

Rod, a partner and a past president of LeSourd & Patten, regularly represents clients before the Internal Revenue Service and the Washington Department of Revenue. He has extensive experience with Tax Court litigation, state and federal tax controversies, criminal tax defense, buying and selling businesses, and estate planning.

Rod has lectured and published many articles in the tax field, including lecturing for the WSCPA, of which he has been a member for over 40 years.

He is a past director of the state chapter and national organization, the American Association of Attorney-Certified Public Accountants. He has served as chairman of the Internal Revenue Service liaison committees at both the district and regional levels. He has also served as a King County Superior Court Judge Pro Tem, as a Clyde Hill Town Councilman, as president of the Hillel Foundation at the UW, and as presi-dent of Temple De Hirsch Sinai. Last year he served as President of the Seattle Rotary Service Foundation.

A Seattle native, Rod and Nina live in Kirkland. They have three adult sons, all of whom are Eagle Scouts, two daughters-in-law, and two granddaughters. Rod enjoys spending time in community service, traveling, exercising, playing bridge, and socializing with family and friends.

From Prococious Entrepreneur to Tax LitigatorRodney J. Waldbaum, JD

“Rod’s wife, Nina, tells a

story about Rod, in the

seventh grade, hiring fifth

and sixth graders to stake

out corners in downtown

Seattle on New Year’s Eve,

selling hats and horns to

people passing by. Rod

had permission from

store owners, and only

one business license—

so he was busy going from

corner to corner—but

his employees got paid

and he turned a profit.”

Periodicals postage paid at Bellevue WA and additional mailing offices

Your Profession. Your Future. Your Advocate.

AREA

CLEAR

WashingtonCPAs @wscpawww.wscpa.org/linkedinJoin the WSCPA group!

Networking events2014

Members’ Reception

August 21 - 6-8:30 pm

Woodmark Hotel, Kirkland

Free! Space is limited.

Register now!www.wscpa.org/events (425) 644-4800

The WashingtonCPA Summer 2014

Documents

Transcript of The WashingtonCPA Summer 2014