Dear Elizabeth:

This week I had the pleasure of attending the spring sessions of the AICPA Council and CPA-SEA. The meetings were perfectly timed for me; I was introduced to the hot issues facing state societies and the profession. I have a few takeaways that will help me set the priorities for the Society, and I’d like to share them with you: 

First, there are amazing young people joining the profession, and we need to learn from them how we can attract and retain more to their ranks. It seemed pretty clear that general branding is not the way to do that. Rather there are specific, practical things we should be doing such as:

• Introducing more students to practicing CPAs and firms through internships and outreach;
• Working through diversity and inclusion initiatives to broaden the range of students who see accounting as a great career; and
• Thinking about ways to encourage and support young accountants to sit for the Exam.

Second, there is a very healthy and fascinating debate about how we should define our ranks. As the profession changes – and we move from traditional activities like audit and tax, to consulting and a wide range of leadership activities in administration and finance – should we expand to include those, or narrow our focus to avoid diluting the brand? My instincts say the former, but I'm eager to work together to figure that out.

Finally, as a Society, we need to be strategic as we think about the diverse nature of our membership. Do our activities and priorities create a value proposition for every member segment? They need to. I look forward to working with you and our staff to ensure that equation is what drives us as we advance our strategic plan and our Society.

Amy A. Pitter
President & CEO

NETWORKING:

Upcoming Committee Meeting
- Federal Taxation (5/26)

Sip & Socialize: Worcester (5/28)
It's the networking event that's creating buzz among CPAs and lawyers - and it's coming to Worcester! Join us at Citizen Wine and Cheese Bar to expand your network and connect with people that can help grow your career. 

South Shore Breakfast Forum (5/28)
Representatives from CCH, Lacert, Pro Series and Ultratax will give a tax software comparison.

Save 10% on the Women's Golf Outing & Clinic (6/9)
Enjoy a day of golf and networking at Juniper Hill Golf Course. Play 18 holes with your colleagues, family and/or friends - or learn how to play in a practice clinic. Women of all skill levels are welcomed and encouraged. Register before 6/1 to receive our early-bird discount!

The Partner Track Roundtable (6/16)
Are you interested in finding out what it takes to become a partner at a public accounting firm? If so, attend this breakfast where 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 office and Boston assurance managing partner at BDO.

CPE:

Statement on Standards for CPE Programs
The Joint Committee of CPE Standards reviewed and finalized its recommendation of changes to the standards and requested approval of its recommendation for exposure draft from the respective AICPA and NASBA Boards of Directors at their April 2015 meeting. Here are excerpts from the Executive Summary.

Mastering Basis, Distributions and Loss Limitations for S Corps, LLCs and Partnerships (5/28)
The most difficult concepts to master when dealing with flow-through business entities are the basis and distribution concepts. Major error and malpractice issues occur if the CPA does not fully understand the impact of these rules. This course is designed to focus on the practical applications of these rules.

Documenting and Testing Internal Controls (5/29)
Whether in internal audit or in public practice, testing internal controls is an important aspect of determining the adequacy of financial, operational, compliance or information technology related processes.

MEMBERSHIP

Understanding MSCPA Health Insurance
MSCPA members can now receive health insurance from Axial Benefits Group! Join us for a discussion about the medical captive, find out how it works and if your firm is eligible. (Please note: Firms must enroll 20+ lives to be eligible.) Sessions will be held on 6/3 in Woburn, 6/4 in Boston and 6/10 in Braintree. All meetings will take place from 8:30 – 10:00 a.m. Breakfast will be served. Space is limited – RSVP to Stephanie Gallegos via email or by calling 781.273.1425.

Women to Watch Awards - Nominations Due 6/30
Nominations for the 2015 Women to Watch Awards are due 6/30. If you know a woman who is a leader in her firm or company and a role model for other women in the profession, celebrate her by submitting a nomination. 

MSCPA Auction: Save Hundreds on Review Courses
Are you planning to sit for the CPA Exam? Participate in the MSCPA's online auction and save on review courses from accounting’s top providers – Becker CPA, Kaplan and Surgent Kolar. Proceeds benefit the MSCPA Educational Foundation. If you have any questions, please contact us.

NEWS & EVENTS:

101 Conversation Starters
Before your next networking event, check out these ice breakers that are certain to get the conversation started.

How to Prevent Death by PowerPoint
Communications consultant Steve Bustin outlines the secrets of an effective presentation and suggests creative ways to grab your audience’s attention and bring data to life.

African American CPAs Who Paved the Way
A short history lesson about African Americans who became CPAs after they were told it wasn't possible.

LEGISLATIVE UPDATE:

IRS Update
- IRS Cracks Down on Payroll Service Providers
- IRS Offers Tax Guide for Military

DOR Update
- May Mid-Month Tax Collection Up from 2014

MA Senate Approves MSCPA Legislative Priority
The Massachusetts Senate adopted an amendment to the budget which aims to simplify and streamline the business registration process in Massachusetts.

MSCPA Pushes Federal Priorities During DC Visit
Several Society members, including Chairman Paul Costantino and Federal Taxation Chair Kate Seekell, joined staff for a series of meetings with members of the Massachusetts Congressional Delegation this week to champion several priorities of interest to the profession. The meetings focused around the Society’s support of four priorities: preserving the use of the cash basis method of accounting; adequate funding for the IRS; permanent tax relief provisions for natural disasters; and the creation of a uniform income tax standard for the mobile workforce. Thank you to the staff in Senator Warren’s office, Congressman Neal and Congressman Capuano’s offices, and to Congressman Kennedy for meeting with us!