Sponsored by:
Dear Hannah:
On Wednesday night, I had the honor and pleasure
of being the keynote speaker at a dinner event held by the Boston Chapter of Financial Executives International (FEI Boston). The subject of my talk was
“Conformance to Performance,” an exploration of the dramatically increased potential of CFOs and other financial professionals to be a
true business partner to the CEO and a valued C-Suite participant in strategic planning and decision making. The increased potential, I believe, comes
from two important changes in the overall landscape – one is the growing importance of data and data analytics as a driver of business
decisions, and the second is the dramatic increase of non-financial factors in the financial value of an entity.
The struggle is that many of us are not yet positioned to capitalize on this increased
potential. The research shows that while two out of three CEOs think that the CFO’s role will increase in significance over the next three
years, as compared with other C-Suite roles, one out of every three CEOs feel that their CFO is not ready to step up to that challenge. The AICPA and the Chartered Institute of Management
Accountants (CIMA) have worked together to introduce the CGMA
designation to start to close that gap. CGMA has a set of global management principles and a structured competency framework that can help both
individuals and organizations make that journey from conformance to performance. Please let me know if
you would like more information on how we can help.
I’d also like to recommend FEI Boston events to our members. We co-sponsored the event on Wednesday night and will be co-sponsoring their May
gala. We’re looking at additional ways to partner with them that will provide value to our members and theirs. Check their upcoming events here. Enjoy your weekend!
Amy A. Pitter
President & CEO
NETWORKING & MEMBERSHIP:
Upcoming Committee Meetings
- Accounting & Auditing
(2/17)
- Nonprofit Accounting & Auditing
(2/18) 
New
Volunteer Opportunity - The Urge to
Create/Fractured Atlas - Accountant
High School Speaking Opportunities
The following high
schools have requested CPAs to visit their classrooms:
-Murdock High School (Winchendon, MA)
-Westborough High School – Requested topic: forensic accounting
-Whitman-Hanson Regional High School
If interested, please contact
Chris O’Day for more details. The MSCPA can provide
you with presentation material and giveaways.
Apply Online for an MSCPA Educational Foundation
Scholarship
Scholarships in the amount of
$2,500 are available for undergraduate and graduate accounting students who are earning at least nine credits at a Massachusetts college or
university. Students who are residents of Massachusetts and attending an out-of-state college are also eligible. Awards will be presented at a
recognition reception on May 24 at the Granite Links Country Club in Quincy. The deadline is April
1.
Financial Assistance for CPA Exam
Candidates
In an effort to increase the
number of test takers and defray exam costs, the Society will hold a lottery to award vouchers in the amount of $500 to candidates planning to sit for
the exam between May 1, 2016 and April 30, 2017. To be eligible, the individual must be a Massachusetts resident who will not receive financial
assistance from his or her employer in the form of payments/reimbursements of exam fees or review courses, or a bonus upon
passing.
Temporary Tax Season Job
Opportunities
Looking for extra help during busy season? Check out the temporary job
opportunities on our website! New positions are posted regularly.
NEWS & RESOURCES:
How to Talk about Fees with Your Clients
10 Practice Management Tips for Accounting Firms
How to Prevent College Debt from Derailing
Your Retirement
CPE:
Accounting & Auditing
Conference (6/10)
Introducing the 2016 Accounting & Auditing Conference! Highlights include AICPA updates,
SSARS No. 21, tax basis financial statements, peer review, FASB and more!
Upcoming Webinars
PivotTables 101 (2/16)
Word - Advanced Tips, Tricks & Techniques (2/16)
Live Video Interview with Elder
Fraud Expert David Kessler (2/18)
LEGISLATIVE UPDATE:
IRS
Updates IRS Suffers Another Data
Breach
The IRS revealed that it discovered and stopped an automated cyberattack on its
e-filing personal identification number (PIN) system last month. According to the IRS, the cybercriminals used information stolen “elsewhere
outside the IRS” to generate e-file PINs for stolen Social Security numbers (SSNs).
AICPA "Fly-In" to D.C. Seeks Path toward
a 21st Century IRS
AICPA tax advocacy committee members said they were encouraged after two days of
meetings with key members of Congress and Commissioner John Koskinen that the IRS can provide more responsive and modern services to taxpayers and
practitioners.
Advocacy
Updates President's Budget Proposes Many Tax
Changes
President Obama released his last proposed budget for the government’s 2017
fiscal year on Tuesday. It contains tax provisions affecting education, health care and retirement, as well as proposing extensive changes affecting
businesses.
MA Senate Approves MSCPA
Priority Legislation
The Massachusetts State Senate voted unanimously to approve a bill to allow
non-CPAs to serve as managing partners of Massachusetts accounting firms. The bill maintains provisions requiring a majority CPA ownership and the
individuals responsible for firm registration and attest services will still be required to hold a CPA
license.
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