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Dear Elizabeth:

In my short tenure at the Society, I’ve learned how much our members value the education programs we offer: the infoshares, the webinars, self-study, live seminars and quality conferences. While the majority of members attend the traditional in-person programming, I think this “quiet time” of summer is a good opportunity for us to check in with you and find out if this is the right mix. We want to dive in and learn about your preferences, your particular learning style, and how we can best meet your needs. 

CPE staff, in conjunction with the Professional Competency Committee, will prepare a detailed survey to send to members in the early fall. It is our hope that you will complete the survey - your input is valuable and it will help guide us in the decision making process to invest in new technologies, educational partnerships and future programming. In the meantime, please send your feedback or ideas for improvement to Julie Deschenes.

Amy A. Pitter
President & CEO

MEMBERSHIP & NETWORKING:

PHOTOS: 2015 CPA Day of Service
Offices in Massachusetts were empty on Friday, June 19 as 538 CPAs and accounting professionals participated in the 2015 CPA Day of Service. Firms from across the state served their communities by volunteering at organizations of their choice. Through their service, the MSCPA exceeded its goal of 500 volunteers for this event!

Upcoming Committee Meetings
- Accounting & Auditing (7/15)
- Nonprofit Accounting & Auditing (7/16)

Real Estate Committee Meeting (7/28)
MSCPA members are invited to meet with the Real Estate Committee on July 28 for a round table discussion about best practices and challenges in implementing the new IRS Repair v. Capitalization regulations. The discussion will be facilitated by Andy Smith, principal, Baker Newman Noyes. For details, contact Barbara Iannoni.

Getting on Boards (8/6) 
Do you want to advance in your career and make a difference in your community? Serve on a board! Boards of directors make decisions that can impact you, your community and the country – and women are in demand for these highly-coveted seats. Join us for a “boardroom conversation” – learn about board service and how it can make a positive impact on your career and your life.

NEWS & RESOURCES:

How Millennials Will Reshape the Workforce
A Pew Research Center analysis shows millennials will become the largest demographic in the U.S. labor force this year. That could usher in changes to the workplace, including an increase in flexible schedules, an emphasis on career development and a move toward flatter organizational structures.

Survey Reveals Talent is a Key Concern for CPA Firms
CPA firms once again are feeling the pressure to hire and retain high-quality professionals. That’s one of the most striking findings of the 2015 AICPA Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey. Conducted every two years, the PCPS survey spotlights the main challenges facing practitioners.

10 Areas of Focus for Internal Audit Success
Internal auditors are facing many new challenges in a world where technology and globalization are leading to rapid changes. Here are 10 things internal auditors can do to make the most of their opportunities.

GASB Publishes New Standards for Reporting Health Insurance and Other Retiree Benefits
GASB issued two statements that will significantly improve the accounting and financial reporting by state and local governments for post employment benefits other than pensions (OPEB). OPEB promises represent a very significant liability for many state and local governments.

CPE:

Staff Training Level I - Basic (7/15 - 7/17)
Providing training for new staff is always a sound investment. Staff Training - Basic is ideal for inexperienced staff members. This intensive, three-day course shows staff how to improve efficiency while meeting quality control standards. The curriculum, geared for local and regional firms, bridges the gap between theory learned in college and the tools needed in practice. Staff will improve skills in preparing work papers, performing compilations and reviews and completing detailed audit tests.

Staff Training Level II - Semi-Senior (7/22 -7/24)
Staff will gain the confidence they need to adequately handle small engagements with this, the second in the Staff Training series. This course will improve their communication skills with partners and client personnel, become adept at drafting financial statements, write better memoranda and develop an overall confidence that will aid them in meeting client needs.

LEGISLATIVE UPDATE:

IRS Updates
- IRS to Amend Required Minimum Distribution Rules for Pensions
- IRS Phone Scammer Gets 14-Year Sentence

FY 16 Budget Heads to Governor
Lawmakers approved the fiscal year 2016 budget conference committee report this week, sending the $38.1 billion budget to Governor Baker for his approval. The bill includes several notable provisions including a repeal of the FAS 109 deduction, an increase in the EITC and a small business registration study – one of the MSCPA's legislative priorities.