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Dear Elizabeth:

June continues to be exciting around here! I was amazed to learn (and experience) that the Society is holding three conferences, two infoshares and 55 classroom trainings this month. That said, there is one event in particular that I’d like to draw your attention to – a breakfast and networking event to have an important conversation about diversity and inclusion.

One of the Society’s goals, stemming from our new strategic plan, is “Sustaining the Brand.”  I am interpreting that as helping individual firms – and the profession as a whole – cultivate strategies for growth. Becoming a diverse, welcoming and inclusive workplace is absolutely essential to that strategy. This is a strong personal interest of mine, and something I was very proactive about at the Department of Revenue. I look forward to working with you to identify specific actions the Society can take to advance this goal.

On June 23, we will have an honest discussion about diversity and what it takes to really “walk the walk.”  This breakfast is for firm managing partners and will be held at the McGladrey offices at City Square in Boston, starting at 7:30 a.m. The discussion will feature Rich Caturano, a past chairman of the AICPA and MSCPA, and a national leader of culture, diversity and inclusion; and Anthony Newkirk, senior manager of diversity and inclusion at the AICPA. I hope that many managing partners will join us to listen, share and form a path for growth – both at the Society and in your firm.

Amy A. Pitter
President & CEO

MEMBERSHIP:

Photos: 15th Annual Women's Golf Outing & Clinic
Over 100 women attended the MSCPA's 15th Annual Women's Golf Outing & Clinic at Juniper Hill Golf Course in Northborough on Tuesday, June 9. Teams played 18 holes in the rain and sun, then gathered in the Pavilion for lunch, awards and raffle prizes.

CPA Day of Service - Last Chance to Register
On June 19, hundreds of CPAs across Massachusetts will volunteer at local organizations for the 2015 CPA Day of Service. There are many ways your firm can give back – whether it’s cleaning up a local park, serving lunch at a soup kitchen or volunteering at a charity. Over 400 CPAs have already signed up - help us reach our goal of 500!

Business & Industry Members Wanted
The Society seeking members in business and industry to profile for a feature in SumNews magazine. You will participate in a short phone interview and have your photo taken in your office. The purpose of the feature is to expose members and students to a variety of career paths available to them. If you are interested, please contact Elizabeth Emanuelson.

NETWORKING:

Upcoming Committee Meetings
- Federal Taxation (6/16)
- Accounting & Auditing (6/17)
- Nonprofit Accounting & Auditing (6/18)
- Management of an Accounting Practice (6/18)

The Partner Track Roundtable (6/16)
Do you want to make partner at your firm? Find out what it takes and how to get on the partner path! At this breakfast, panelists will share their career experiences and advice. Panelists include: Mark Audi, CPA, principal at Baker Newman Noyes, Mitzi Hollenbeck, CPA, partner at Sharkansky LLP and Cathy Moy, CPA, chief people officer and Boston assurance managing partner at BDO.

NEWS & RESOURCES:

Recruiting and Retaining Staff Tops List of Worries for CPA Firms
Talent pool concerns have emerged as the most pressing issue for all but the smallest CPA firms, according to new research by the AICPA.

Board of Examiners Seek Changes to CPA Exam
Public feedback has led the AICPA Board of Examiners to move forward with plans to increase testing of higher-order skills on the Uniform CPA Examination, such as critical thinking, problem-solving, analytical ability and professional skepticism.

Reasons to Avoid an Earnout When Selling Your Firm
Earnouts are popular deal structures used by buyers and sellers of accounting practices, but they have drawbacks.

Kill Public Speaking Jitters in 5 Easy Steps
It's natural to be nervous when you've got a big public speaking gig. It's important to do your homework and practice beforehand, but also to be prepared to laugh off any glitches or missteps.

CPE:

NEW! Audits of Banks and Other Financial Institutions
This program is dedicated to demonstrating how audit, consulting and tax associates can learn the accounting, tax and auditing fundamentals of modern depository and lending institutions, as well as non-bank institutions.

LEGISLATIVE UPDATE:

AICPA Recommends Procedures for Accounting Method Changes
The AICPA has recommended to the IRS that taxpayers making an accounting method change for mischaracterized research and experimental expenditures under Code Section 174 should compute a Section 481 (a) adjustment.

DOR to Hold Demos on New Tax Software System
The Department of Revenue's new online system, MassTaxConnect, will be available by the end of this year for most business and corporate taxpayers. The DOR is holding four information sessions this month to demonstrate the new program.

MSCPA Seeks Input on Impact of Independent Contractor Law
The Society is working to amend the Commonwealth’s independent contractor law to alleviate many unintended consequences of the strict classification standard but we need to hear from you! Share your thoughts, experiences of the law and its impact on you and your clients by emailing Zach Donah. Click here for the latest information on the Society's efforts.