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CEO Corner
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Dear Hannah,
In February, the Accounting Standards Board issued an Exposure Draft (ED) of three proposed standards, which, taken together, will bring important changes to the way firms manage quality in their accounting and auditing practices. The headline is that the changes will migrate the approach to quality management from a checklist “one size fits all” approach to a “risk-based” approach. While this is an objective that many agree with, the devil, as always, is in the details. Many small firms are afraid that the new standards would be impossible to comply with or, if possible,
prohibitively expensive.
Massachusetts will be commenting on these standards to preserve the “risk-based” concept, but we will incorporate some changes that will make them applicable to small firms in a way that it is more practical and appropriate.
The Accounting & Auditing Committee, led by chair Phil Pacino, CPA, will meet on Wednesday, July 21, from 8:30 – 10:30 a.m. to discuss our proposed comments.
All are welcome, and I can pretty much guarantee that it will be a robust discussion. To register, click here. If you have questions, please contact Jess Yu at jyu@mscpaonline.org.
Phil also wrote this article to introduce the EDs and his thoughts about proposals to improve them. I look forward to Massachusetts submitting comments that will be substantive and helpful to the final development of the new standards. We will keep you informed of any updates.
Have a great weekend!
Amy Pitter
MSCPA President/CEO
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CPE PLUS Webinar
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Discuss the importance of getting the taxpayer correct, identification of replacement property and settlement statement issues. We'll also cover the “drop and swap” structure, investment issues, reverse/improvement exchanges and fund safety and security. REGISTER
This webinar is free as part of
CPE PLUS,
our new member benefit!
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| Get Involved
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Upcoming Committee Meetings
- Taxation (7/20)
- Accounting & Auditing (7/21)
- Human Resources & Firm Operations (8/4)
- Marketing (8/10)
- Management of an Accounting Practice (8/19)
- Nonprofit Accounting & Auditing (8/19)
- Women in Accounting (8/25)
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July Women's Mentoring Circles
Join us for our July Women's Virtual Mentoring Circles!
We'll be holding the following Circles:
- Statewide (7/28)
- Braintree (7/29)
If you're interested in attending, please contact Jess Yu.
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Senior Accountant Virtual Roundtable(8/12)
Calling all senior accountants and senior associates! Join us on Thursday, August 12
for a free roundtable to network with others who were recently promoted and get advice from a group of experienced peers who can answer questions you might have about your new role.
Attendees will earn one CPE credit. REGISTER
Please note: Registrants will receive a Zoom link prior to the roundtable.
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| Virtual CPE
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NEW Leadership Series
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Our new Leadership Series kicks off this fall!
Designed for manager and senior manager level employees, this series will run from September 28 – January 12, 2022. We're bringing back some of our most popular speakers who will cover hot topics, including defining your leadership style, career tactics for a post-quarantine world, crafting your accounting innovation strategy and so much more! To learn more, click here or contact Julia Ekelund.
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| Networking Event
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Play tennis with your peers on the grass courts of the International Hall of Fame in Newport, RI! All members and non-members are welcome to play. Sign up as an individual or foursome. This is a fun day on the courts and all levels are encouraged to participate. Email Brendan Sullivan with questions. REGISTER
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| SumNews
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The July 2021 issue of
SumNews
is here! Click through our digital edition now to meet our 2021-2022 MSCPA Board of Directors, learn how to meet the challenges of remote accounting internships and so much more! We also spotlight new Board Chair
Rob Miller, CPA, CFE,
and MSCPA members
Meredith Fuller, MSA, CPA,
and
Charlene Spiceland, PhD, CPA, CMA. READ NOW
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| Featured Conference
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SAVE THE DATE! Join us on Thursday, October 28 for our
2021 Women's Leadership Summit! Enjoy a day of networking and learning with women in the profession. The conference also includes our presentation of the 13th
Annual Women to Watch Awards. REGISTER
Please note:
This hybrid conference has both virtual and in-person options available.
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| Member News
| BAKER NEWMAN NOYES (BNN), Boston/Woburn, announced that
NATHALIA BERGAMINI, CPA,
and
CHELSEA CULLEROT, CPA, MSA,
were promoted to senior managers in the firm’s assurance practice. The firm also announced that:
- SYDNEY CALLAN, CPA, MST, was promoted to manager in the firm’s tax practice.
- ILONA DAVIS, PMP,
was interviewed on
New Hampshire Business Journal’s podcast “Down to Business” about effective strategies for remote work. Davis was also quoted in two recent articles in
American City Business Journal
on the importance of proper communication and governance for managing an effective hybrid work environment.
- JAMES GUARINO, CPA, PFS, CFP®, MST,
was quoted in a recent article in
Accounting Today
regarding the major effects the COVID-19 pandemic and the legislation that followed has had on tax planning. Guarino also contributed an article to
CPA Practice Advisor discussing tax-planning strategies under the Biden administration.
- JENNIFER HARNISH, director of HR, recently sat on a panel discussing the post-pandemic workplace, hosted by Pierce Atwood.
- LEANNE SCOTT, JD. LLM, was quoted in a recent article in Law 360
regarding the Massachusetts Supreme Judicial Court’s May 21 decision allowing Microsoft and Oracle to apportion revenue from software purchases by a Massachusetts company to other states where that software was accessed.
FENTON QUINN PC,
Pittsfield, announced that with the addition of
CHRISTINE ARACE, CPA,
the firm changed its corporate name to
KILLEEN ARACE & QUINN, PC.
LYNDA SCHWARTZ LLC, Newtonville, announced that
LYNDA SCHWARTZ, CPA, CFF, CFE, CGMA, recently completed her three-year term on the AICPA's Forensic and Litigation Services Committee, where she co-chaired the Forensic Technology Task Force. Beginning in June 2021, she was appointed to serve on the AICPA's Certified in Financial Forensics Credential Committee.
SAMET & COMPANY PC, Chestnut Hill, announced the following promotions:
- OLGA BORIC, CPA, BOBBY DICKSON, EDWARD HURST, CPA, BROOKE MUNAFO
and
HANNAH RILEY
to supervisors
- PAUL FORD, CPA, to partner
- DESTYNEE TEIXEIRA and
CLAUDIA VOLK
to senior associates
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SVOG Single Audit Requirements
PPP Loan Forgiveness Dispute
Accounting for ERC
U.S. Sub of Foreign
Corp - Income vs. Intercompany/Equity
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| Are you traveling this summer?
|  |  |  | *See the results in next week’s Friday@Five!
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| Last week's results:
Do you multitask when attending a meeting online?
78% Yes, I'm guilty
11% My mind tends
to wander
11% No, I'm 100% focused
| 40 UNDER 40 BLACK CPA AWARD
In honor of the 100th
anniversary of the first Black CPA, this award has been established to continue to build upon progress made by recognizing young Black CPAs for influencing the profession, breaking barriers and making an impact on the community.
Applications must be submitted by Sunday, August 15. To learn more about eligibility requirements and to apply for this award, click here.
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| MSCPA LEGISLATIVE BRIEF
This week's newsletter featured MA Legislature adopting a $48.1 billion FY22 budget, findings from a report outlining what the future of work may look like in the near- and long-term, and more.
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| JOB POSTINGS
Director of Finance - YWCA Cambridge
Senior Accountant - CA Brandt, Inc.
Corporate Tax Manager -
Wolf & Company, P.C.
Senior Associate (Public Accounting with Nonprofit Experience) - Nardella & Taylor, LLP
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| PER DIEM JOB POSTINGS
Tax Preparer - J Rizzo CPA LLC
Experienced Associate - E.L. Mann, PC
Tax Preparer - Coval Anderson Coval LLC
Office Manager - James L. Hickey, CPA
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| VOLUNTEER OPPORTUNITIES
CPA - Fitchburg Loves the Children
CPA - Frost Call
CPA - Recollective Inc.
CPA for Financial Review - Arlekin Players Theatre
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105 Chauncy Street, 10th Floor, Boston, MA 02111
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