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CEO Corner
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Dear Hannah,
Today I’m going to talk about something completely different. We are running out of peer reviewers and that is putting the entire program in jeopardy at a national level.
So many of our peer reviewers have retired or are approaching retirement, and new folks are not stepping up to take their place, so I am writing today to ask our members to think about becoming a peer reviewer and to assure you that it will be worth it.
Becoming a peer reviewer has many unique advantages to help grow your business and build your reputation as a firm that stands behind its commitment to providing high-quality services. As a peer reviewer, you can leverage your expertise and open the door to a whole new source of revenue for your accounting and auditing practice, and you will gain insight that contributes to the quality and effectiveness of your own practice.
Furthermore, you can help firms achieve the results they want, while bolstering your own business. You can gain greater confidence in your own procedures, learn new best practices and common areas of noncompliance with professional standards and perform more effective audits.
Serving as a peer reviewer also creates additional opportunities to network with your peers, which provides insights to tackle challenging practice management issues outside the services you provide to your clients.
You can also look forward to the annual AICPA Peer Review Conference, where you can network with hundreds of other peer reviewers and learn about the latest peer review updates and news. Visit the Annual Peer Review Conference section of the AICPA’s reviewer training webpage to learn more.
To get started, visit aicpa.org/BeAReviewer to learn about the requirements and training options to become a peer reviewer. The training courses offer you opportunities to learn first-hand from experienced reviewers and AICPA staff. Feel free to email any questions to MSCPA Executive Vice President and COO Beth Lyons before December 24 or Peer Review Director Jay Kaufman, CPA, at any time.
By becoming a peer reviewer, not only will you contribute to the profession, but you will also gain invaluable knowledge to improve and enhance your own practice.
Have a great weekend!
Amy Pitter
MSCPA President/CEO
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Featured Virtual Conferences
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LAST CHANCE TO REGISTER! SUE SMITH, CPA, RETURNS NEXT WEEK!
We're bringing back one of our most well-known speakers to discuss with you some of the top tax issues you need to know! This conference will provide updates on the most important legislative and regulatory developments as well as major trends and
changes in the case law. Register for the date that works best for you!
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Join us Wednesday, January 13 – Thursday, January 14 for a conference that is sure to set you and your organization up for a successful year! Our annual State Tax Virtual Conference is a great opportunity to learn about hot topics, meet experts in the field and boost your network! Register today with the promo code
EARLY to save $25 on your registration! This offer ends Thursday, December 31.
Attendees will earn eight CPE credits. REGISTER
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Join us Thursday, January 21 – Friday, January 22 for a conference that will provide you with essential information you need to help guide your business and clients! At our Nonprofit Virtual Conference, we'll cover FASB, best practices for remote audit, Office 365 apps, a nonprofit update, scenario planning in a post COVID-19 environment and much more! Register today with the promo code
EARLY
to save $25 on your registration! This offer ends Thursday, December 31.
Attendees will earn eight CPE credits. REGISTER
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| Get Involved
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MSCPA Educational Foundation Holiday Decorating Competition
Show your creative side (and holiday spirit!) while supporting future CPAs. By donating $10, you can be entered into our holiday decorating competition. Whether you are home or in the office, join us in jazzing up your space for a chance to win and support a great cause! All proceeds will go directly to the MSCPA Educational Foundation.
Prizes will be awarded for the following categories:
1. Most festive individual workspace décor ($50 gift card)
2. Best decorated holiday season baked good/gingerbread house/holiday treat (prize)
3. Best overall firm participation in holiday workspace décor competition – each individual who submits this form with their submission picture will be judged by their overall participation based on all individual submissions we receive from the firm.
(Complimentary MSCPA Firm Guide listing – a $400 value! Winners will also be announced in SumNews, our bi-monthly member magazine)
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New to Industry Virtual Roundtable (12/10)
LAST CHANCE TO REGISTER! If you recently left public accounting for industry, this roundtable is for you! Join us next Thursday, December 10 and earn one CPE credit while discussing:
- Ways to maintain your CPA license and track CPE;
- Transition challenges;
- Tools to expand your network; and
- How the MSCPA can help!
REGISTER
Please note:
A Zoom link will be provided to all registrants prior to the event. Video participation for this session is optional, but highly encouraged.
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NEW! Multi-State CPAs in Business Virtual Roundtable (12/15)
Join us on Tuesday, December 15 to connect with your peers in the private sector across the country at our first FREE Multi-State CPAs in Business Virtual Roundtable! In this one hour discussion, we'll cover:
- Virtual onboarding and hiring;
- Return to work plans;
- PPP loans;
- Budgeting for 2021;
- HR issues: Furloughs, layoffs and general remote work policies;
- Revenue recognition slowdowns; and
- Technology/cybersecurity and risk.
You'll chat with members in Kentucky, Michigan, Minnesota, Nebraska, New Jersey, North Carolina, Oklahoma, Pennsylvania and Wisconsin, sharing ideas and challenges of running a firm in the "new normal." REGISTER
Please note:
Zoom login information will be sent to registrants 24 hours before the event. Please contact Jill Foley at jfoley@mscpaonline.org if you have any questions. Video participation for this session is optional, but highly encouraged.
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| Virtual CPE
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How to Identify, Explain and Present Pertinent Financial Information to Non-Accountants (12/8)
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Stay-up-to-date with the latest developments at the GAO, OMB, AICPA and FASB, as well as with your accounting and auditing skills and current requirements, learn how to prepare for major changes on the horizon and more. REGISTER
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MSCPA Legislative Brief
| This week's Legislative Brief offers updates and tips for employers to slow the spread of COVID-19 in the workplace, the Massachusetts FY21 budget remaining in conference committee and more. READ THE NEWSLETTER
| Member News
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Ally Graham, CPA
Financial Consultant, Three Key Consulting, LLC
Read our interview with Ally from the November issue of SumNews
to learn about her baking business side hustle. MEET ALLY
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| BERRYDUNN, Portland, ME, announced that the firm was recently named one of “America's Best Tax and Accounting Firms" by
Forbes.
LGA, LLP, Woburn, announced that
GOLDBERG, HARDER AND ADELSTEIN, P.C. (GHA),
Boston, has merged under the LGA brand, effective as of November 30. GHA will join LGA at their Woburn office, a 23,000+ square foot space specifically designed to reflect their award-winning culture and accommodate their continued growth.
SHARE YOUR NEWS
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Another Gift Tax Return Message
Employer Retention Credit - Gross Receipts
PPP Taxation Letter to Congress
Updated Code of Conduct - Commercial Messages
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UPCOMING COMMITTEE MEETINGS
- ERISA (12/8)
- Taxation (12/15)
- Accounting & Auditing (12/16)
- Management of an Accounting Practice (12/17)
- Nonprofit Accounting & Auditing (12/17)
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PPP EXPENSE DEDUCTIBILITY
The MSCPA, along with more than 50 other state CPA societies and the American Institute of CPAs, has sent a letter to Congressional leadership asking that a PPP expense deductibility provision be part of any must-pass, year-end legislative package. We have heard in recent days that a stimulus bill has potential to pass before the end of the current session and we are hopeful that PPP expense deductibility will be included.
Thank you for your efforts and taking the time to write to our members of Congress and for keeping this issue front and center. To read our letter, click here.
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VOLUNTEER OPPORTUNITIES
Board Treasurer - Lyracle
CPA - The Loop Lab
Treasurer - Prison Book Program
Accountant/CPA and Web Developers/IT Engineers - Healthy Living Organization, Inc.
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Audit Senior (Public Accounting) - Smith, Sullivan & Brown, P.C.
Semi Senior Auditor - Grassi
Accountant Manager - DREAM Collaborative LLC
Audit and Tax Professional - Joseph B. Cohan & Associates
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Senior/Supervisor - E.L. Mann, PC
CPA - Fineman CPA Group
Seasonal Tax Preparer - David M. Colburn III CPA
Bookkeeper - McCafferty and Company, P.C.
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105 Chauncy Street, 10th Floor, Boston, MA 02111
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