AZ CPA Feb. 2018

AZ CPA

February 2018

Speaking Tips for CPAs

Disengaging to Benefit Your Firm and Client Exploring Opportunities for Young Professionals

Four Etiquette Tips for Videoconference Calls

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AZ CPA FEBRUARY 2018

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AZ CPA The Arizona Society of Certified Public Accountants President & CEO

Cindie Hubiak

Editor

Patricia Gannon

Advertising

Heidi Frei

Board of Directors Chair Chair-Elect Secretary/Treasurer Directors

Molly Montgomery Mike Allen Jared Van Arsdale Michael Chesin Virginia DeSanto Tom Duensing Marcus Feder Kristen French Alan Gold Aaron Grant Julia Miessner Alice Pope Jeffrey Quick Nikki Vogt Char Woodall

Immediate Past Chair Greg Nelson AICPA Council Members

Rob Dubberly Greg Nelson

Chapter Presidents Southern Chapter Northern Chapter

Cathy Poore Bethany de Alva Southwest Chapter Helen Greenwell North-Central Chapter Ellen Carpenter

There is still time to make a Tax Credit Gift!

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AZ CPA FEBRUARY 2018

AZ CPA is published by the Arizona Society of Certified Public Accountants (ASCPA) to provide information, news and trends in the profession of accounting. It is distributed 10 times a year as a regular service to members of the Society. The ASCPA, its members, board of directors and administrative staff assume no responsibility for advertisements herein. The ASCPA and the above people also assume no liability for business decisions made by readers in reference to statements and/or claims in articles or advertisements within this publication.

Opinions expressed by contributors are not necessarily those of the ASCPA. Arizona Society of CPAs 4801 E. Washington St., Suite 180 Phoenix, AZ 85034-2040 Telephone (602) 252-4144 AZ Toll-Free (888) 237-0700 www.ascpa.com

Volume 34 Number 2

AZ CPA

FEBRUARY 2018

Features

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Public Speaking for CPAs Improving your speaking skills can help you interact with others and have a more fulfilling life.

by Marty D. Van Wagoner, CPA (in UT)

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Disengaging to Benefit Your Firm and the Client Most CPAs will encounter situations that call for disengagement at some point in their career. Learn the best way to handle those times.

by Suzanne M. Holl, CPA (in CA)

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Columns & Departments

Exploring Opportunities for Young Professionals A member of the ASCPA Emerging Leaders Committee shares her advice.

by Jessica Iennarella, CPA

Chair’s Message by Molly E. Montgomery, CPA 6 Member News

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A Dash of SALT by James G. Busby, Jr., CPA

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Quick Quiz

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Classifieds 22

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Four Etiquette Tips for Videoconference Calls

As remote work arrangements become more commonplace, learn how to remain professional and put others at ease on your next conference call.

by Lori Sexton, CGMA

Arizona Society of Certified Public Accountants 4801 E. Washington St., Suite 180 Phoenix, Arizona 85034-2040 www.ascpa.com

FEBRUARY 2018 AZ CPA

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ASCPA Chair’s Message

Respecting the Disconnect I was having a conversation with several executives at an event I attended back in October. The event was not specific to our profession; however, I met several CPAs at the event. A few of us were having a casual conversation about vacation policies and flexible work arrangements. Someone made a comment about one of their management-level employees not being accessible when they take vacation time during the year. A fellow CPA chimed in and casually stated, “There comes a point in everyone’s career when they should be reachable at any time. It just comes with the territory.” I have heard several variations of this opinion over the years, and my thoughts around this are constantly brewing in the back of my mind.

by Molly E. Montgomery, CPA

The talents and skillsets needed in the individuals who will be the makeup of our profession in just a few short years are the same talents and skillsets of the individuals who will find great success in working independently.

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AZ CPA FEBRUARY 2018

Considering our constant evaluation of what we expect the future of our profession to look like and how to proactively respond to the changes we see happening around us, the conversation about flexible work arrangements and other employee benefits and perks is an important one. Flexible work schedules, working remotely, expectations around vacation time and taking time off have historically been seen as part of a benefits package or an additional perk for certain positions within a company. However, some of these benefits and perks have molded into more of an expectation than a benefit, and are being sought after as part of a company’s business model and culture. Technology has given us the ability to work from anywhere in the world, organizations are hiring from a global talent pool, and the gig economy is not going away. Various studies show the U.S. workforce is currently made up of about 35% independent workers or freelancers. This is expected to reach around 40% by 2020. By 2027, some estimates show nearly 60% of Americans will be independent workers or will have worked independently at some point in their careers. And, ready or not, Generation Z is now joining the workforce … a generation that will be the most independent, most entrepreneurial generation yet.

The cultural shifts happening around us and within our organizations require us to evaluate and shift our expectations of each other and ourselves. Our expectations of when, where and how we spend our time need to shift. There are many valid arguments supporting all sides of this discussion, but we have to challenge those arguments if they are being justified through the lenses of a more traditional worldview and how our profession used to be. The talents and skillsets needed in the individuals who will be the makeup of our profession in just a few short years are the same talents and skillsets of the individuals who will find great success in working independently. Creating a professional culture that supports and nurtures rather than conflicts with these individuals is critical if we want our profession to continue to thrive.

I understand and have a deep respect for the experiences and views of who we are as professionals and the responsibilities we take on as leaders. Our work ethic, our professionalism, our loyalty, our integrity, our contributions, our com-

Member News mitment to serving, the complexity of the work we do and the effort it takes to stay current and relevant … the responsibility we embrace is significant.

And, we have to protect ourselves and each other. Most importantly, we have to protect the younger generations who are watching and learning from us and the example we set. It takes years of experience to build up the capacity to carry the responsibility of being reachable at any time, especially while on vacation.

Stress, anxiety, addiction to social media and our phones, an overwhelming abundance of information flooding our mental space, are impacting all of us in some way, regardless of the years of experience we have. We have to be okay with completely disconnecting when taking time off. And, we have to create a culture that respects others’ needs to disconnect as well. There is a subtle, yet significant difference between an email auto-responder with the statement “I am currently out of the office and will respond when I return” and the statement “I am currently out of the office, my responses may be delayed.” If we are not taking the time and space to rebuild our energy and strength and protect our personal lives, we will crumble. n

ASCPA President & CEO Cindie Hubiak, key members of the Society and members from DeMenna Public Affairs, sat down for a lunch meeting with Arizona Governor Doug Ducey in late December to discuss legislative priorities for the CPA profession.

ASCPA Board member Julia Miess- $12,000). “The El Tour was a bucket ner was appointed to the AICPA CFF list item,” says Heinfeld. “It’s a Tucson thing. I always wanted to do it.”

Credential Committee.

Rob Dubberly and Greg Nelson are the ASCPA’s newest AICPA Council members.

In Memoriam Gerald “Jerry” Bitner

Jerry Bitner was a long-term ASCPA Christopher A. Jones, CPA, of Schmidt Westergard & Company, member in Tucson. He volunteered in PLLC, was appointed to the Board of a number of ways and provided peer review services to CPAs. Adjustment for the City of Mesa.

ASCPA Life Member William L. Raby

ASCPA Annual Meeting May 16, 2018 at the Arizona Biltmore Speaker: AICPA Chair Kimberly Ellison-Taylor www.ascpa.com

Gary Heinfeld recently participated in the Casino del Sol bike race. Heinfeld has been the top fund-raiser for Easter Seals Blake Foundation, the primary beneficiary of El Tour, for the past three years (last year he raised

William L. Raby passed away on Christmas Day at the age of 90. Raby was a retired Deloitte & Touche partner and professor of accounting at Arizona State University; he was vice president of the AICPA and a past chair of its Tax Division. He was the president of the Arizona State Board of Accountancy (1993-94), and was listed in Who’s Who in America. In 1991, he was presented with the AICPA’s Arthur J. Dixon Memorial Award for service to the tax profession. He was the author of eight tax-related books. His son Burgess Raby is an attorney who is a frequent CPE instructor for the Society.

FEBRUARY 2018 AZ CPA

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ASCPA Visits Cesar Chavez High School to Talk Accounting

Adela Jiménez (ASCPA), Adrian Trujillo (South Mountain Community College), Aaron Fathe (Sprouts), Raj Wadhera (Sprouts), Oscar Lopez (South Mountain Community College), Michelle Reveles (Cesar Chavez High School) and Barbara Gonzalez (South Mountain Community College).

The ASCPA visited Cesar Chavez High School in November to talk to two classes about why they should become CPAs. Members Raj Wadhera and Aaron Fathe, both from Sprouts Farmers Market and Adela Jiménez, ASCPA, shared more about why they enjoy being CPAs and what it takes to become a CPA. Member Barbara Gonzalez, who is a faculty member at South Mountain Community College, and her students Adrian Trujillo and Oscar Lopez led some fun accounting activities to help the students learn more about the important role accounting plays in business. Trujillo and Lopez also shared with the students why they decided to study accounting and what to expect as a college student.

Our members enjoyed the experience and were able to gain insight into the thoughts and motivations of the future workforce.

“I was excited to see firsthand the accounting courses offered at Cesar Chavez high school. I wish I had an opportunity like that when I was younger! It was great to interact with the current students and present alongside with former Cesar Chavez High School Students who were continuing their accounting studies at South Mountain Community College.”

-Aaron Fathe “This generation is more keen on the value they are getting from what they are learning, instead of just going to school to earn a degree. Many showed an interest in knowing the career path and trajectory that a CPA designation would help them achieve. Our conversation with students was more geared toward how a CPA is one of the invaluable designations that can help in numerous jobs, careers and self-employment. I was profoundly amazed with their interest in business related fields (accounting, finance or marketing) and the desire to start their own businesses.”

-Raj Wadhera Wadhera also encourages others to get involved in these events. “It’s great to learn how the next generation perceives what’s important to them and how they can add value.”

If you are interested in participating as a speaker at one of our future events at high schools or universities, please contact Cynthia Quinonez at cquinonez@ascpa.com.

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AZ CPA FEBRUARY 2018

A Dash of SALT

An Interview with Arizona Revenue Director David Briant In this month’s state and local tax (SALT) column, Busby interviews Arizona Department of Revenue Director David Briant.

James G. Busby Jr.: Where are you from and, if you’d like, tell us about your family.

David Briant: I am a native Arizonan and my family has lived in Phoenix since 1959.

Busby: Please tell us about your professional training and work experience before taking this position at the Arizona Department of Revenue.

Briant: I have worked for the state of Arizona for more than 30 years. Prior to being named director of the DOR, I was the business and finance director at the Arizona Department of Environmental Quality. I also worked for the Arizona Department of Transportation (ADOT) and Department of Health Services.

Busby: What, if anything, did Gov. Doug Ducey ask you to focus on at the department?

Briant: The governor’s mission is to make Arizona the best state in the country to live, work, play, recreate, retire, visit, do business and get an education. Our part of the governor’s mission is to serve taxpayers and focus on funding Arizona’s future through excellence in innovation, customer service and continuous improvement.

Busby: In addition to anything the governor may have asked you to focus on, now that you have been at the DOR since October 2015, what do you see as your biggest challenges and opportunities, and what are your top priorities?

by James G. Busby, Jr., CPA

James G. Busby, Jr., CPA, is a state and local tax attorney at The Cavanagh Law Firm. Busby previously worked in the SALT departments at Arthur Andersen and Deloitte & Touche. Before entering private practice, Busby was in charge of all transaction privilege (sales) tax audits at the Arizona Department of Revenue.

If you have any questions, please contact the author. He can be reached at (602) 322-4146 or JBusby@CavanaghLaw.com.

Briant: As part of the DOR’s ongoing transformation, the biggest challenge is to continue to find ways to deliver customer value and vital mission outcomes for Arizonans. Everybody at the department — from top to bottom — has the opportunity to find new ways to deliver enhanced services for taxpayers every day.

The question asked at the DOR is: What did we do yesterday and how do we do it better today?

Busby: We understand that you are systematically reviewing all of the DOR’s processes and procedures, questioning why the department does things the way it does, and considering whether there may be better, more efficient ways to operate. What have you learned during this process, how far along are you and are there any success stories that you would like to share?

FEBRUARY 2018 AZ CPA

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Briant: We learned we have a dedicated team of people working at the DOR who are excited to be part of this transformation and are involved in applying continuous improvement techniques, such as process mapping and working with customers to provide input on improving the process. In fiscal 2017 alone, approximately 6 million tax documents were processed with more than $15.6 billion collected and distributed for key Arizona programs and services.

There have been several success stories at the agency, which can be traced back to a results-driven management approach that we are deploying, called the Arizona Management System (AMS). AMS is all about delivering better, faster and more cost-effective service. This ambitious program, which was brought in by Gov. Ducey, eliminates waste and inefficiencies throughout the system. Through AMS, the DOR has made progress in areas including: 1. Customer Wait Times — Since the beginning of this transformation, an important goal has been to reduce call center wait times for the thousands of taxpayers who call every month. While the goal is ongoing and with improvements still to be made, in fiscal 2017, the time it took to answer phone inquiries — which ranged from refund questions to complex tax queries — averaged less than three minutes, and even under a minute for many months.

2. Transaction Privilege Tax Reform — In 2017, the DOR completed full implementation of transaction privilege tax simplification, becoming the single point of administration and collection of state and city transaction privilege taxes for all business and residential rental owners in the state. Fourteen cities, including the state’s largest city, joined 77 other municipalities to partner with the DOR. This streamlined program benefits local governments because they do not require extra city staff to perform transaction privilege tax services; rather, the DOR provides services such as processing tax returns, answering taxpayer inquiries, audit and collections services and rev-

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AZ CPA FEBRUARY 2018

enue distribution back to communities for programs and services.

The benefits for businesses are that they do not have to file two or more transaction privilege tax returns, one with the DOR and another with the city or cities where the taxable activity occurred. They only need to file one return for all taxing jurisdictions, which is a more streamlined process.

3. Agency Collaboration — The goal of giving Arizonans one-stop customer service was the driving force with the DOR and the ADOT working together to centralize vehicle use tax payments, which improves customer experience and saves the state money through enhanced efficiencies. The new process means thousands of motorists who purchased vehicles outside Arizona are able to register them and pay state and city use taxes at ADOT Motor Vehicle Division centers, eliminating a source of frustration experienced by more than 20,000 taxpayers every year.

Under the partnership, the DOR has developed a web-based application for Motor Vehicle Division locations to calculate and capture the total state and city vehicle use tax due upon registration. The web-based calculator is also available to allow taxpayers to determine how much tax will be required at the time of registration.

4. Real Estate Consolidation and Record Retention Reduction — In 2017, a DOR consolidation project relocated its Tax Return Processing Center back to the main Revenue Building and eliminated the need for 52,000 square feet in private-leased space, generating hundreds of thousands in year-to-year taxpayer savings.

The DOR’s consolidation project also supported the state’s ongoing drive to find efficiencies and enhance customer service. This year the department simplified retention requirements for federal corporate and partnership returns, resulting in thousands of businesses no longer having to submit paper federal returns, which means 90,000 federal tax returns or 8 million pages no longer

requiring processing and storage by the DOR. 5. Tax Fraud Prevention — Protecting Arizonans’ private taxpayer information is paramount. To combat the ever-evolving landscape of fraud and identity theft, the DOR continues to implement new countermeasures, including advanced analytics such as machine-learning algorithms, stringent internal checks and balances, and the ongoing incorporation of electronic tax return filing, which gives the department more fraud-prevention tools. This prevents millions of dollars in fraud each year in Arizona.

6. E-Filing — Moving Arizona into the 21st century, the DOR continues to move tax filing to an envisioned electronic future state, which means a faster and more secure process. More than 80 percent of taxpayers currently file their individual income taxes electronically, and that percentage continues to grow.

However, on the corporate side, business income taxes remain a manual process. Thanks to H.B. 2280, signed into law in March, the department is moving forward to have corporate tax e-filing in place for thousands of businesses by tax year 2020.

Busby: Is there anything else you would like Arizona taxpayers and practitioners to know about you or the department?

Briant: Again, the department is focused on serving taxpayers and committed to funding Arizona’s future through excellence in innovation, customer service and continuous improvement.

The DOR has taken decisive and deliberate actions to respond to the shifting needs of taxpayers and will continue to find efficiencies to serve them. As revenue director, I value the constructive input we receive from taxpayers, practitioners and other stakeholders, because it is making us a stronger, more nimble agency. My commitment is to keep this stakeholder collaboration going, so the department can continuously improve for our customers. n

Public Speaking for CPAs

by Marty D. Van Wagoner, CPA (in UT)

Speaking skills can help you interact with others socially and have a more fulfilling life.

Glossophobia is the fear of public speaking. It’s been said for years it is the number one thing people fear. Supposedly, people fear public speaking more than they fear death. Whether or not that’s all true is a debatable issue. Some surveys say people fear snakes more than public speaking, or they fear running out of money in old age. And it depends on whether we look at it from the perspective of what people most fear, or what most people fear. Regardless of how we rank it, we can all agree that public speaking is certainly a challenge for many people.

So what is the best way to deal with this challenge? Just say no? Decline all invitations to speak in public? Right? I’m joking, of course, although that is how many of us would choose to respond if we could. However, the truth is, that’s seldom the best response. There are often clear reasons it’s in our best interest to develop public speaking skills and to practice them often. This article will identify some of those reasons and address ways to work on improving our ability to speak in public. There are many courses out there one can take. There is information all over the internet for those who wish technical research and guidance. Rather than present research done by others to create a technical article, I will present some anecdotal things I’ve learned as I’ve tried to develop public speaking skills. I hope to give you some ideas and suggestions that can make you a better speaker.

FEBRUARY 2018 AZ CPA

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CPE Classes for CFOs Management - Get Your Year Off to a Great Start (In person and Online) Feb. 15 From Hiring to Firing and Everything in Between: Health Care, Retirement and Fringe Benefit Tax Issues (8-11:30 a.m.)

From Hiring to Firing and Everything in Between: Legal and Payroll Issues (12:30-4 p.m.)

March 2 Become a Public Speaking Pro Today! Interactive Skills Building Workshop (8 a.m. -3:30 p.m.)

March 19 Financial Forecasting: Planning for Success (8-11:30 a.m.)

March 20 The Changing Role of the Controller: Advancing from Tactical to Strategic (8-11:30 a.m.)

Analyzing Costs, Productivity, and Efficiency: Three Ways to Boost Your Bottom Line (12:30-4 p.m.)

March 21 Advanced Controller and CFO Skills

www. ascpa.com/earncpe 12

AZ CPA FEBRUARY 2018

Many people decide to go into accounting because they’re more comfortable with numbers than with other people. The stereotypical accountant is one who tends to be awkward with people, as portrayed by Rick Moranis’ Louis Tully in the original Ghostbusters movie or, more recently, Kevin James’ Albert Brennaman in Hitch. Much to the contrary, my experience has been that many CPAs are dynamic, intelligent people with whom I’ve enjoyed association during the 30 years of my career.

The accounting profession demands much more interaction with other people than most people would ever expect. We’re often called upon to speak in public; whether as part of a team, presenting to a client or a boss, giving a speech or doing a presentation. To be most successful in this, or any other profession, it is in our best interest to develop those skills. Speaking skills can help you interact with others socially and have a more fulfilling life.

The best way to become a competent public speaker is to start young. An old Chinese proverb says, “The best time to plant a tree is 20 years ago.” The best way to be a public speaker today is having started when you were young. I say that as encouragement to those who are parents or otherwise have responsibility for young children. Look for ways to help children begin to learn those skills.

The proverb goes on to say, “The second best time is now.” For those who didn’t start early, it is not too late.

With respect to this topic, I was fortunate as a child. The church to which I belong has large youth programs that allow numerous opportunities for its members, from a very young age, to speak in public. I firmly believe this made a huge difference for me. Whether it’s a church youth group, at school, as a leader of a sports team or even in family social settings, we can look for ways to have children speak, sing or otherwise perform to develop a measure of confidence in front of a crowd.

The truth is, no matter how often one speaks in public, there can still be anxiety and nervousness. A rule I heard long ago and wholeheartedly believe, is

never to say you’re nervous. Whenever a speaker begins by saying, “I’m so nervous about this,” the audience begins to notice fingers tapping, sweat on the forehead, or other signs of nervousness they may or may not have noticed if the speaker hadn’t said anything about it.

Although very simple, one of my best tools for calming nervousness is to take several slow, deep breaths, stretching out the exhaling. It helps to slow my heart rate and calms me. Just be careful not to hyperventilate!

I strongly disagree with such comments as, “Picture your audience naked.” Sorry, maybe it works for some people, but that’s just gross to me!

Instead, I try to look at and focus on one individual for a sentence or two, and then move on to another, and so on. It makes me feel like I’m having a more personal, one-on-one conversation rather than being in front of a large crowd.

Some people find that holding something in their hand is helpful. It can be a prop used while speaking, to which attention is directed to emphasize a point of the speech. Or it can be something like a small stone being rubbed by the thumb to release nervous energy.

Another suggestion is not to be afraid of a bit of silence. When I get nervous, I tend to talk very rapidly and run everything together. It’s good to pause occasionally to let a point sink in. Sometimes I even write in parentheses in my speech (pause here for a moment).

In a firm-sponsored instructor training I once attended, we did an exercise to force us to do just that. It isn’t a bad idea for everyone to do this exercise as good practice. During the training, we were told to close our eyes and grab a paper from a table that had a pile of newspaper clippings or magazine articles. We were then given three minutes to prepare a five-minute presentation.

We were in a group of about 10 to 15 people. During the speech, we were required to maintain eye contact with every individual in the room for at least five seconds. We were also told to pause for at least five seconds during the speech – at a point where the pause

Watching ourselves on video is a good way to assess and measure our performance.

would add emphasis to our comments.

You’d be surprised how long five seconds of silence is when there is a room full of people looking at you!

It may sound embarrassing or silly, but another tool is to practice in front of a mirror. One of the most difficult teaching assignments I have is to teach an eight-hour CPE course to a camera and then to watch myself present that course in a webcast once a month and type in answers to any questions that might be posted. I see so many things I wished I’d done differently in the original recording! Watching ourselves on video is a good way to assess and measure our performance. Perhaps even more embarrassing is to practice speaking in front of family members or friends. But it can make such a difference.

Finally, I firmly believe the single most important thing any of us can do to be a better public speaker is to PREPARE. I can generally “wing it” in public if needed because I have a great deal of experience speaking. But I can sure tell the difference between when I have time to prepare and when I don’t.

Adequate preparation is critical to a successful speech.

I encourage each of us to look for opportunities to practice and improve our public speaking abilities. I guar-

antee it will be a contributor to your professional success and fulfillment in life! n Marty D. Van Wagoner, CPA (in UT), is a partner at Child, Van Wagoner & Bradshaw, PLLC, (CVB) a firm specializing in national and international SEC clients, subsidized housing entities and taxes.

Join Marty Van Wagoner to learn more about this topic at the ASCPA. He will present: Become a Public Speaking Pro Today!

Interactive Skills Building Workshop (8 a.m. -3:30 p.m.) on March 2.

Go to www.ascpa.com for more information.

FEBRUARY 2018 AZ CPA

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愀稀栀漀瀀攀⸀挀漀洀 愀稀栀漀瀀攀⸀挀漀洀

䨀漀椀渀 洀攀 椀 渀 洀愀欀椀渀最 愀 搀椀昀昀攀爀攀 渀挀攀 椀渀 琀栀攀 氀椀瘀攀猀 漀昀 䄀爀椀稀漀渀 愀ᤠ猀 ㄀㤀Ⰰ 䄀猀 愀 戀漀愀爀 昀漀猀琀攀爀 挀栀 搀 洀攀洀戀攀 椀氀搀爀攀渀 眀椀琀 爀 漀昀 䠀漀瀀攀 栀 琀栀攀 ☀ 䄀 䘀甀琀甀 爀攀Ⰰ 䤀 䄀爀椀稀漀渀愀 䘀 漀猀琀攀爀 䌀愀爀 攀渀挀漀甀爀愀最攀 攀 吀愀砀 䌀爀攀 礀漀甀 愀渀搀 搀椀琀⸀琀猀 琀漀 樀漀椀渀 洀攀 礀漀甀爀 挀氀椀攀渀 愀渀搀 洀愀欀攀 愀 搀椀昀昀攀爀攀 渀挀攀 椀渀 琀栀攀 氀椀瘀攀猀 漀昀 䐀漀渀愀琀椀漀渀猀 䄀爀椀稀漀渀愀ᤠ猀 琀栀爀漀甀最栀 ㄀㜀Ⰰ㔀 昀漀䄀瀀爀椀氀 ㄀㔀琀栀 猀琀攀爀 挀栀椀氀搀 琀漀 䠀漀瀀攀 ☀ 䄀 爀攀渀⸀ 䘀甀琀甀爀攀 焀甀 愀氀椀昀礀 昀漀爀 愀 ㈀ ㄀㜀 琀愀 砀 挀爀攀搀椀琀 甀 瀀 琀漀 ␀㄀Ⰰ ⠀洀 愀爀爀椀攀搀 挀漀甀 䐀漀渀愀琀椀漀渀猀 瀀氀攀猀⤀ 漀爀 ␀ 戀礀 䐀攀挀攀洀 㔀 ⠀猀椀渀最 戀攀爀 ㌀㄀猀琀 琀 氀攀猀⤀⸀ 漀 䠀漀瀀攀 ☀ 䄀 ꀀ 䘀甀琀甀爀攀 焀甀 愀氀椀昀礀 昀漀爀 愀渀 䄀爀椀稀漀渀 愀 吀愀砀 䌀爀攀 搀椀琀㨀 吀栀爀攀攀 眀愀礀 猀 琀漀 栀攀氀瀀 琀漀搀愀礀㨀

㄀⤀ 䐀漀渀愀琀 攀ꀀ愀琀 愀稀栀漀 唀瀀 琀漀 ␀㠀 瀀攀⸀挀漀洀ꀀ爀椀攀搀 挀漀甀瀀 氀攀猀 昀漀爀 洀愀爀 ㈀⤀ 匀栀愀爀攀ꀀ 琀栀攀 琀愀砀 挀爀 唀瀀 琀漀 ␀㐀 攀搀椀琀ꀀ眀椀琀栀 昀漀爀 猀椀渀最 礀漀甀爀 挀氀椀攀 氀攀 琀愀砀瀀愀礀 攀爀猀渀琀猀 ㌀⤀ 䐀漀眀渀氀 漀愀搀 愀渀搀 猀 栀愀爀攀 戀爀漀挀 栀甀爀攀 愀琀ꀀ 愀稀栀漀瀀攀 吀愀欀攀 愀搀瘀愀 ⸀挀漀洀⼀琀愀砀挀 渀琀愀最攀 漀昀 爀攀搀椀琀⸀瀀搀昀 琀栀椀猀 漀瀀瀀漀 爀琀甀渀椀琀礀 愀渀 搀 椀渀昀漀爀洀 礀漀 甀爀 挀氀椀攀渀琀猀 栀漀眀 琀栀攀礀 挀愀渀 最椀瘀攀 䄀爀椀稀漀渀愀✀猀 昀漀猀琀攀爀 挀栀 刀䔀䄀䰀 䠀伀倀 椀氀搀爀攀渀 愀爀攀 䔀 琀漀 䄀爀椀稀漀 挀漀甀渀琀椀渀最 渀愀ᤠ猀 昀漀猀琀攀 漀渀 甀猀℀ 爀 挀栀椀氀搀爀攀渀

戀礀 䐀攀挀攀洀 戀攀爀 ㌀㄀猀琀⸀

稀漀 渀 愀 愀 琀攀 昀 漀爀 琀 栀 攀 䄀 爀椀 䐀 漀渀 䠀 伀搀 倀椀琀䔀 攀 椀瘀 䜀 Ⰰ 漀眀 渀 琀攀 愀 漀渀 䐀 爀攀 䌀 砀 愀 䘀 漀猀 琀攀 爀 䌀 愀 爀攀 吀 栀 椀氀 搀 ⸀ 琀攀攀⸀爀 挀挀漀洀 漀猀 昀 愀 琀漀 漀瀀 愀 琀ꀀ 愀 稀栀

䄀爀椀稀漀渀愀ᤠ猀 ㈀㈀渀搀 䜀漀瘀攀爀渀漀爀

䠀漀瀀攀 ☀ 䄀 䘀甀琀甀爀攀 ꀀ㤀 㤀 圀⸀ 䴀挀䐀漀眀攀氀氀 刀搀⸀ 倀栀漀攀渀椀砀Ⰰ 䄀娀 㠀㔀 㜀 ꀀ㘀 ㈀ⴀ㈀㔀㠀ⴀ㔀㠀㘀

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AZ CPA FEBRUARY 2018

Disengaging to Benefit Your Firm and the Client

by Suzanne M. Holl, CPA (in CA) Most CPAs — even those highly skilled at screening and bringing in new clients — will periodically encounter situations and client relationships that call for disengaging. While the subject of disengaging is typically thought of as (at best) unpleasant, disengaging can be a practice management tool that increases firm profitability and creates a better situation for both the CPA and the client.

Generally, today’s clients are making more demands and expecting broader services at a time when CPAs are becoming more specialized. When clients expect more from you than what your experience and staffing enable you to provide, the resulting expectation gap could lead to a deterioration of the professional relationship. But that doesn’t have to happen. By identifying clients and situations that call for disengaging, and by recognizing when to disengage, the CPA will be on the way to knowing how to disengage skillfully.

What Exactly Is Disengagement?

The disengagement process is as important as the engagement process in that it is a critical part of a successful practice. Initiated by the CPA, disengagement seeks to formally terminate the CPA-client relationship in the most positive way possible, freeing each party to pursue other professional ties.

A skillfully handled disengagement is mutually beneficial to you and the client. You are left with more time to grow your business by selling new services to existing clients, and to bring in new clients. The client from whom you disengage

is also free to move on and find a successor CPA to meet their needs.

When to Disengage?

A proactive attitude that treats disengaging as a practice management tool means, in part, putting into place a system that allows you to re-evaluate your client base on a regular basis, be it annually or semi-annually. Incorporating such a plan into your business practice enables you to monitor your client base and note any changes that could have an impact on your professional relationship.

Of course, even the most proactive evaluation plans will sometimes be thwarted, creating a need to disengage immediately due to a critical situation, such as the discovery of fraudulent activity. However, by using a procedure that enables you to regularly monitor your clients, you can better protect yourself and your business from having situations escalate into crises calling for disengagement.

Another benefit that comes from regularly evaluating clients is that you place yourself in an excellent position to gauge their changing business needs and therefore sell them new or different services that complement their growth or change.

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Care needs to be taken when disengaging or withdrawing from an engagement after it has started, especially when the scope of the engagement includes audit, review, or compilation.

Since attestation engagements are often used by the client for obtaining financing or satisfying loan covenants, disengaging while the engagement is in process requires careful attention to potentially negative effects.

Opportunity Cost of Continuing Relationship Only you can decide whether it is in the best interest of your firm to continue a relationship with a client who makes you uncomfortable, upsets your staff, or otherwise exhibits unseemly behavior.

Consider the time and energy your firm spends on serving that client. Working with certain clients may be so disruptive and upsetting that it is simply not worth the money they bring into the firm.

You should also carefully consider any changes in a client’s business.

Changes in management or in the direction of the business can create problems for you if you are not professionally staffed to perform the new, additional, or different services the client’s business requires.

When you are not qualified to accommodate a client’s new needs, yet choose to accommodate the client rather than disengage, you make yourself vulnerable to litigation. Not only are you inviting a potential lawsuit, but the firm is losing the opportunity to provide additional services to the existing client base and to build a stronger base in the firm’s area of expertise – a course of action that could be far more productive and profitable for the firm. Consider different options to best serve the client, such as a friendly joint venture with another accounting firm that specializes in another area of expertise. Such arrangements can be quite successful.

CPAs often try to adjust to a client’s changing behaviors or needs, especially for clients that have long-term professional relationships with the CPA. How-

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ever, making adjustments can cause you to overlook risk factors and eventually expose you to disputes and lawsuits.

may confirm that it is time to sever the relationship.

Pay Attention to Difficult Clients

When you decide to disengage, you should seek to terminate the relationship professionally and formally, in writing. At a minimum, the disengagement letter should always contain the following: • A clear statement that you are disengaging and the effective date of the disengagement (e.g., We must formally end our relationship with you as your accounting firm <effective immediately, or as of [date]>.); • A description of any work that is in process or unfinished; and • A statement of any due dates or filing deadlines that exist with regard to the work, whether finished, in process, or unfinished.

Review and edit your disengagement letter carefully to ensure that it is professional, objective, and rational.

Situations that provoke disengagements are often emotionally charged. Don’t let your letter reflect your personal feelings.

Your client needn’t feel antagonized in any way. When done effectively, disengagement can leave your client feeling that you have acted in the best interests of both parties.

Disengagement is an important practice management tool, and knowing how to do it skillfully and professionally will serve to help you expand your practice and avoid liability. Any time you need advice about a client situation or a disengagement letter, call your risk advisor. n

When performing regular screening of existing clients, pay special attention to difficult or manipulative clients.

Difficult behavior, such as consistently delinquent payment, should not be ignored and should be followed up.

Take swift action on your own behalf to investigate. The following checklist of pertinent questions is intended to help you and your staff get to the heart of the matter and solve problems.

• What is causing the problem?

• Who is causing the problem?

• Does the client’s behavior indicate that there is a problem with the service provided?

• Are you dealing with a manipulative client?

• Is the problem due to a personality conflict?

• Could someone else better serve the client?

• When did you first realize you had a problem with the client?

• What tipped you off – an unpaid bill? A change in attitude?

• Are you allowing emotional ties to overshadow professional concerns?

It is possible that the behavior you see now is a reaction to something you did months ago but is still bothering the client. Here are some dditional questions to consider: • What can your firm do to better communicate with the client?

• Does the client feel the fees charged by your firm are too high?

• Was a new staff member assigned to the engagement?

• Is the client suffering a business or personal hardship?

• Is your firm’s billing method clear?

Dealing right away with difficult behavior may save the relationship and help you avoid disengagement, or it

How to Disengage

Suzanne M. Holl, CPA (in CA), is senior vice president of loss prevention services with CAMICO (www.camico.com). With more than 28 years of experience in accounting, she draws on her Big Four public accounting and private industry background to provide CAMICO’s policyholders with information on a wide variety of loss prevention and accounting issues.

Exploring Opportunities for Young Professionals

by Jessica Iennarella, CPA

I officially joined the forensic accounting profession in May of 2012. While I have spent less than six years in my field of choice, I have experienced multiple opportunities to contribute to the profession, and to network with those who will lead the profession in the future. As a young professional, you may feel uncertain about what you can contribute at this stage in your career. However, I encourage you to take advantage of the opportunities which exist for young professionals to gain leadership and networking experience, as well as give back to the profession. The following are some examples of such opportunities: Arizona Society of CPAs One of the best ways to start getting involved with the profession is to connect and contribute at the state level. My experience has been that the ASCPA is always looking for young professionals who are willing to get involved and they are happy to assist them with finding opportunities which are a good fit. Specific examples of opportunities I have had are as follows: Emerging Leaders Series: The ASCPA has an Emerging Leaders group, which has been undergoing some exciting changes over the last year. This past year, the group has evolved from a one-day conference to the Emerging Leaders Series, which incorporates an additional training class, a not-for-profit activity day and a networking event. The Emerging Leaders group is evolving to build a core group of young professionals who meet regularly to share ideas and network. As a young professional, joining this group gives you a chance to interact with some of Arizonaâ&#x20AC;&#x2122;s most driven young professionals at the ground floor. As you advance in your own career, how nice would it be to already know some of the other key players?

FEBRUARY 2018 AZ CPA

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Conference Planning Committees: All of the ASCPA’s conferences are planned by a conference steering committee.

Joining one of these committees gives you the opportunity to network with the other professionals on the committee and help select the topics and speakers included in the conference.

The topic selection process, in particular, can help you gain perspective on the year’s most important issues. You also have the opportunity to practice your public speaking skills by volunteering to introduce one of the speakers on the day of the conference.

Road to the CPA Panel: Practice your public speaking and give back to the profession by traveling to a local college or university and sharing with students your journey to the CPA profession.

Writing Articles: If you have a topic or message you feel would benefit the profession, reach out to the ASCPA about writing an article. Writing articles helps fine tune your ability to deliver a concise and compelling message. Being published is an asset on your resume.

Attend Events: Whether it is a behindthe-scenes field trip or a specialty networking event such as the ABC event, take advantage of the opportunity to meet other professionals. Practicing networking in a low-risk environment and at an early stage in your career can help lessen the stress involved. While the end goal of practice may be differ-

ent than when you are networking with potential clients, learning how to start a conversation and relate to new professionals is a skill that can be practiced in a multitude of settings.

American Institute of CPAs Becoming involved at the national level does typically require more patience than becoming involved at the state level. However, the connections you build through the ASCPA can help with the process, and it is certainly worth undergoing. Expanding your network at the national level can result in unforeseen opportunities and having connections across the country. The following are some examples of how I have gotten involved with the AICPA: EDGE Conference: The EDGE conference is an annual conference geared toward young professionals. The EDGE conference has technical topic sessions, as well as plenty of “soft skills” sessions. The majority of attendees have to sell the idea of attending to their boss, which results in a very committed group. The conference will push you out of your comfort zone, but by the end, you won’t want to go back.

Leadership Academy: The Leadership Academy is an application-based four-day training program for professionals between the ages of 25 and 35.

Applicants for each year are screened based on resumes, professional recom-

Emerging Leaders Networking with GET Phoenix — April 25 5:30 – 8:00 p.m.

Where: Dakota, 7301 E. Indian Plaza, Scottsdale, AZ 85251 Grow your network and meet other young professionals in a casual setting. Seize this opportunity to put skills built at the Leadership Summit into action. This is a members only event open to all young professionals.

Hone your leadership skills and enjoy more amazing networking opportunities by participating in the 2018-19 Emerging Leaders Series. The series will kick off in the fall of 2018 and more details will be available soon.

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AZ CPA FEBRUARY 2018

mendations and written essays. Also, and to ensure a diverse group, the AICPA limits the number of attendees who represent each demographic (i.e., age, gender, ethnic background, firm size, field of practice, etc.). Due to the amount of time spent together, and the activities involved which are designed to push your growth, most attendees leave Leadership Academy with a renewed sense of purpose, passion and direction for their career.

Other Opportunities: The AICPA has a variety of committees where you can make a difference. You can also look for ways to assist committees you are not serving on with specific tasks. For example, the Academic and Student Recruitment Committee is often looking for assistance with judging scholarship applicants.

Outside Accounting Volunteering for nonprofits outside of the accounting industry can be a very rewarding experience, allowing you to practice skills useful in your professional career. Through my involvement with the Arizona Humane Society, I have practiced public speaking, networking, professional communication and group collaboration techniques; all for a cause that I am passionate about. Many nonprofits are seeking a way to connect with the next generation of donors, and your professional background puts you in a prime position to assist.

Don’t be afraid to pursue opportunities which are a little outside of your wheelhouse. They can give you the best chance to grow.

Don’t be afraid to ask for an opportunity. What better way to demonstrate your interest and commitment to an organization than by asking how you can help? n Jessica Iennarella, CPA, CFE, is with HSNO Forensic Consulting in Phoenix.

She is a member of the ASCPA’s Emerging Leaders Committee.

Interested in volunteering at the ASCPA? Email gpacheco@ascpa.com to find the right volunteer opportunity for you.

Work from home, not at home.

Remember that you are on camera, and we can see everything in that little square of your home or vacation spot.

Although your children are delightful, when discussing a serious strategic matter, a budget or really anything, it’s not fun for your fellow attendees to watch your kids fight, jump up and down, or look at themselves on your screen. It’s better when on a call not to be feeding your toddler, walking your dog or fixing dinner. Don’t make others in the meeting feel as if they’re inconveniencing you. Instead, retreat to a corner or a room where you can take a call with no background distractions and focus on work.

Four Etiquette Tips for Videoconference Calls

by Lori Sexton, CGMA We’ve all had those cringeworthy moments on videoconference calls when a colleague or customer forgets that we can see and hear everything they’re doing. We tell ourselves never to repeat such mistakes, and never to cause such distraction or embarrassment. But it’s hard to be our best selves all the time on screen, especially with videoconferences becoming more common as remote work arrangements and widespread teams become increasingly common.

Here are four considerations for proper etiquette on a video or any other type of conference call: Maintain a professional appearance. More and more organizations are providing flexible and remote work arrangements for employees, which can be an excellent benefit. But remember that it is still work, and you are still a professional. Don’t appear on screen with bed head or pajama tops. When I work remotely, my routine is the same as if I were going into the office: shower, dress professionally, put on makeup, do my hair and show up in front of the screen of my laptop. It’s the same approach as showing up for a meeting in the executive conference room. Be known for being a professional, whether in the office or not.

Don’t try to multitask. Focus on the meeting at hand. Don’t cook your lunch or walk to the mailbox. And please stay off the treadmill. These activities are quite distracting to the other attendees, and they shouldn’t be done during a meeting.

Look at the screen, not elsewhere.

Adjust your screen so meeting participants can see you and make eye contact. Nobody wants to watch you click through email, send texts, check social media accounts, or talk to a colleague who just stepped into your office. Participating and being present in meetings will show that you respect the other attendees. And don’t forget to smile – you’re happy you have flexibility, can work remotely and can participate in video calls. A smile not only looks better but also can inspire others.

Heeding this advice will help eliminate the cringes and lead to comments that we all appreciate hearing: “It’s always great to have Mary on the video call – she is always engaged!” n Lori Sexton, CGMA, is a senior technical manager with the Association of International Certified Professional Accountants.

This article first appeared in CGMA Magazine. For more articles, sign up for the daily email update from CGMA Magazine at http://bit.ly/2svn2AY.

FEBRUARY 2018 AZ CPA

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Every child in Arizona deserves high-quality education.

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AZ CPA FEBRUARY 2018

AZ CPA Quick Quiz You’ve Read It, Now Get Credit Take this quiz online or submit this hard copy on AZ CPA content.

Receive a score of 70 percent or more and earn one hour of CPE credit in specialized knowledge. It’s that easy!

Fees: Members: $25 Nonmembers: $40 Online Access Go to www.ascpa.com/QuickQuiz to access links to all active quizzes. Purchase quiz and the quiz link and password will be emailed to you. Your results will be sent immediately after completing, and certificates are emailed within two business days.

Hard Copy Please select one answer for each question. Fill out registration/payment information below and mail or fax to the Society office. Quiz results and certificates will be emailed to the address provided on the registration form. *This quiz will be available until February 2019. Please note that users have three attempts to pass the quiz with at least a 70 percent score.

February 2018 Issue of AZ CPA* 1. In the Chair’s message, estimates show how many Americans will be independent workers or will have worked independently at some point in their careers by the year 2027?: m 60% m 35% m 90% 2. AZ DOR Director David Briant stated that this number of tax documents were processed in 2017: m 11 million m 6 million m 4.5 million 3. Thanks to H.B. 2280, signed into law in March, the DOR plans to have corporate tax e-filing in place for businesses by tax year ______: m 2019 m 2020 m 2023 4. The best public speakers begin speaking: m During their career m When they are young m In college

5. Which one of these speaking techniques does Van Wagoner not recommend?: m Speaking in front of a mirror m Holding an object in your hand m Picturing the audience naked 6. Disengagement should be looked at as a practice management tool, putting into place a system that allows you to re-evaluate your

client base on a regular basis, this should ideally be done … m Monthly m Annually or semi-annually m Only when problems arise 7. When you are not qualified to accommodate a client’s new needs, yet choose to keep the client rather than disengage, you … m Make yourself vulnerable to litigation m Lose the opportunity to provide additional services to the existing client base m All of the above 8. Jessica Iennarella suggests that the best way to get involved with the profession is to: m Write a book m Volunteer at your state CPA society m Have lunch with your boss 9. The Emerging Leaders Series is sponsored by the: m AICPA m ASCPA m ASPCA 10. Which of these is not a good practice for videoconferences? m Wearing your pajamas m Looking directly at the screen m Avoid multi-tasking

Quick Quiz Registration Name: ____________________________________________________ Email:_____________________________________________________ Telephone: _________________________________________________

Payment

m Member: $25 m Nonmember: $40 Checks: Please make payable to: The Arizona Society of CPAs Credit Card:

m Visa m MasterCard m American Express

Credit Card #: _______________________________________________ Expiration Date: _____________________________________________ Name on Card. _____________________________________________ Mail to: ASCPA, 4801 E. Washington St. Suite 180, Phoenix, AZ 85034-2040; fax to (602) 324-6045 scan and send to ASCPACPE@ascpa.com.

FEBRUARY 2018 AZ CPA

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Classifieds Employment SENIOR TAX ACCOUNTANT — Partridge & Associates CPA’s, PLC, N-Scottsdale CPA Firm seeking experienced Senior Tax Accountant to prepare higher end business and personal returns. Requires min 4-year degree, emphasizing in Tax/Accounting.

Preference for EA/CPA. Must have 5+ recent years preparing taxes $70,000 – 95,000 (including overtime). larry@ partridgecpas.com.

Kristen French and Kevin Eyman partners of Upworth, PLLC, show off their 100% Club certificate.

Join the Club!

Thank you to the more than 95 organizations that have pledged their commitment to the ASCPA and the CPA profession by joining the ASCPA 100% Club.

Obtain the recognition your organization deserves by investing in your greatest asset, your staff.

There is only ONE requirement to join the club; all CPAs in your organization must be ASCPA members. There is no cost to join. Enroll today and get immediate access to exclusive 100% Club benefits, such as: • Increased recognition through ASCPA.com and annually in AZ CPA magazine.

• Discounts on group webcasts. Learning together improves teamwork and communication.

• A one-hour complimentary on-demand course from the ASCPA Library or one complimentary Quick Quiz for CPE credit for each member of your organization.

• Discounts on the most up-to-date CPE to stay ahead of impactful changes.

• Generate business by attracting new clients on the ASCPA Find A CPA web page.

• Training for non-CPA Staff at member price.

Enroll today, contact membership@ascpa.com to opt-in to your organizational benefits!

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AZ CPA FEBRUARY 2018

CPA FIRM SEEKS AUDIT MANAGER — BDO USA, LLP — BDO Phoenix firm seeking Audit Manager responsible for supervising, directing and reviewing the results through the delegation of tasks throughout the planning, field work and “wrap-up” stages of an Audit client engagement. In this role, the Assurance Manager is charged with marketing, networking and business development within an area of expertise, as well as the responsibility of ensuring engagement profitability involving billings and collections. 5+ years experience in public accounting.

Licensed CPA or international equivalent. Please email adnguyen@bdo.com.

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Name ___________________________________________ Company ________________________________________ Address ________________________________________ City ___________________State _____ Zip ___________ Phone __________________ Fax ____________________ Email ____________________________________________

❒ CPA ❒ Attorney ❒ EA ❒ Other: ________________

❒ Members of ASCPA,

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Method of Payment: ❒ Check ❒ VISA ❒ MasterCard ❒ American Express Name on Card ___________________________________ Card Number ____________________________________ Exp. Date ____________ Amount $ ________________ Signature of Cardholder__________________________

Please return this form and payment to:

Arizona Society of CPAs 4801 E. Washington St., Ste. 180 Phoenix, AZ 85034-2040 Fax credit card orders to: (602) 252-1511

Sales tax, standard shipping and handling prices are included.

*The ASCPA will be processing checks submitted in payment as an Electronic Funds Transfer (EFT) transaction. Funds may be withdrawn from your account as soon as the same day we receive your payment.

FEBRUARY 2018 AZ CPA

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Arizona Society of CPAs 4801 E. Washington St., Suite 180 Phoenix, AZ 85034-2040

PRSRT STD U.S. Postage PAID Phoenix, Arizona Permit No. 952 ADDRESS SERVICE REQUESTED

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AZ CPA FEBRUARY 2018