COCPA NewsAccount - March/April 2022

NEWSACCOUNT COLORADO SOCIETY OF CPAs • MARCH/APRIL 2022

At the Board Table: Introducing the COCPA 2022-2023 Leadership Nominees PAGE 4

Burning Bright(ly) vs. Burning Out: Staying Mentally and Physically Healthy in Today’s Work Environment PAGE 23

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NewsAccount | March/April 2022

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23 Contents Features 4

At the Board Table: Introducing the 2022-2023 Leadership Nominees The pipeline into the profession, leadership development, and more are top of mind for these members who will join the COCPA Board of Directors and Educational Foundation of COCPA Board of Trustees, May 1.

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From Top Ten Safest to Number One in Theft: The Colorado Crime Wave A new report flags Colorado as the #1 state in the country for car theft and personal property theft. What can be done to turn the tide before the Centennial State is no longer considered a great place to work, operate a business, and rear a family?

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Filling the Accounting Pipeline: One Person Makes a Difference The number of accounting majors at U.S. colleges and universities continues to decline. One COCPA member is on a mission to change that.

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Making Your Mark in the Nonprofit World You have the power to make a difference in many ways, and one Colorado organization can help you discover how to do it.

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Burning Bright(ly) vs. Burning Out: Staying Mentally and Physically Healthy in Today’s Work Environment Everyone is trying to do more with less, in many cases while still working remotely. How can you avoid burnout? Check out these strategies.

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The Devil’s Dance: A Survivor’s Story Alysha Hussainatu Richards shares her story about living in Sierra Leone during the Blood Diamond conflict, before she and her twin sister became the first children to find a pathway to American citizenship.

26 Departments 2 33

Chair Column Movers & Shakers, In Memoriam, and Classified Ads

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March/April 2022 | www.cocpa.org

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CHAIR COLUMN

NEWSACCOUNT

Passing the Leadership Baton

A bimonthly publication of the Colorado Society of Certified Public Accountants Vol. 67, No. 6 March/April 2022

Officers

Randy L. Watkins, Chair Angela Roberts, Vice Chair Peter J. Derschang, Treasurer Sharon S. Lassar, Immediate Past Chair Mary E. Medley, Secretary

Directors

Diego J. Baca, James N. Brendel, Jim Gilbert, Mary-Margaret Henke, Amy King, Kelly A. Kozeliski

Editorial Board

Jack Allgood, Ken Fichter, Georgia Z. Phillips, Lori Anne Reinwald, Laura J. Theiss, Barbara J. Tedesko, Steve Van Meter, Michael D. West, Charlie Wright

Mary E. Medley, President/CEO, Editor Natalie G. Rooney, Contributing Writer Ariana Cassard, Blue Ocean Ideas, Design NewsAccount (ISSN #10899952) is published bimonthly by the Colorado Society of Certified Public Accountants, 7887 E. Belleview Ave., Suite 200, Englewood, CO 80111. NewsAccount is published in January, March, May, July, September, and November and reports information, news, and trends in the accounting profession. The Colorado Society of CPAs assumes no liability for readers’ business decisions in reference to advertisements or other information included in this publication.

Membership dues include a $14.00 one-year subscription to NewsAccount.

Periodical postage paid in Englewood, CO, and additional mailing offices.

POSTMASTER: Send address changes to NewsAccount, Colorado Society of Certified Public Accountants 7887 E. Belleview Ave., Suite 200 Englewood, CO 80111 Net press run = 5,609 copies; sales through dealers and carriers, street vendors, and counter sales = 0; paid or requested mail subscription = 5,555; free distribution by mail = 0; free distribution outside the mail = 20; total free distribution = 20; total distribution = 5,575; office use, leftovers, spoiled = 38; returns from news agents = 0; total sum = 5,609; percent paid and/or requested circulation = 99%.

303-773-2877 • 800-523-9082 Fax: 303-773-6344

NewsAccount is available online at www.cocpa.org.

BY RANDY WATKINS, CPA, CGMA, CCIFP

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his is my last column as your COCPA 2021-2022 Chair. It has been another year of challenges, and I continue to marvel at what we can accomplish when we work together for our profession, our clients, our employers, and our communities.

On May 1, 2022, Angela Roberts, CPA, will take the baton as your next COCPA Chair of the Board of Directors, and several goals will be high on the leadership agenda. One of those is filling the accounting profession pipeline with the best and brightest students. We’re facing this challenge here in Colorado, and it continues to be a top issue nationally. But when we’re faced with adversity and put our collective heads together, we move the needle. We’ve demonstrated repeatedly we’re good at that. So, while I know more challenges are ahead, I’m confident in our leadership and you, our members.

COCPA CEO Mary E. Medley also will pass the baton this year. She recently informed the Board of Directors she will retire as of Sept. 9, 2022. I’ve known Mary for 25 years, and I feel so fortunate to have served as COCPA Chair alongside her. When I

LOOKING BACK AND AHEAD When I think about what I envisioned for this year, I originally hoped we could gather in person for the majority of our COCPA events, including the Chair Tour and CPE conferences. While we were able to pull off a few in-person events – such as the Leadership Summit, Women’s Summit, and CPAs Make a Difference celebration – they were the exceptions. We did more virtually – successfully – than I could have imagined possible at this time last year.

Even though we continue to face challenges from the pandemic, we still have many things to look forward to and celebrate. I’m excited about the direction of our ESG working group, which has met twice and attracted new members, thanks to the call for volunteers in recent issues of NewsAccount. Momentum continues to build around our ESG efforts.

I also tip my hat to the COCPA staff who continue to push through the pandemic operating environment. Despite ongoing hurdles, they have pivoted in a number of different ways – sometimes overnight – to keep members connected, informed, and educated. They’ve also continued to advo-

So, while I know more challenges are ahead, I’m confident in our leadership and you, our members. think of the Society, I think of Mary. This is the end of a long and impactful run for her and the start of a new era for the COCPA. I know Mary expects us to proceed boldly, move forward intentionally, and work tirelessly to further the profession. I, along with the COCPA Board, wish her the very best, as she and her husband, Bob Cloud, begin the next phase in their lives.

I am leading the search committee to identify the third CEO for the COCPA in its 118-year history. Stay tuned for further details in the months to come.

cate for our profession, our organizations, our clients, and us as individuals.

THANK YOU I have enjoyed my time as your Chair. The COCPA staff and the volunteers who make the COCPA world go around are nothing short of amazing. Only one thing could have made it better: If we hadn’t had a pandemic! But since we can play only the hand we’re dealt at any given time, I’m proud of how we’ve persevered as a profession and a professional association.

As I ease into my new role as Past Chair, I’m looking forward to continuing the great work we’ve done this year and helping in every way I can. I also look forward to seeing you in person and shaking hands when it is safe to do so. Thank you for a great year. And remember these whispered words of wisdom: “There’s nowhere you

can be that isn’t where you’re meant to be. All your life, you were only waiting for this moment to arrive. There will be an answer. Let it be.”

Email Randy Watkins at rwatkins@bdo.com.

COCPA CEO To Retire in September 2022 At its January 2022 meeting, COCPA President and Chief Executive Officer Mary E. Medley, informed the Board of Directors of her intention to retire, effective Sept. 9, 2022.

Medley joined the organization in September 1974. She became executive director and corporate secretary (and later President and CEO) on January 1, 1992. She previously held positions in member services, public relations, continuing professional education, as assistant executive director, and as executive director of the Educational Foundation of the COCPA. Medley has served in a variety of volunteer roles with the American Institute of CPAs (AICPA) including terms on its Strategic Planning Committee, Foundation Board of Trustees, and Pre-certification Education Executive Committee.

She is a past president of the CPA Societies Executives Association (CPA-SEA) and chaired the 2017 AICPA/CPA-SEA Interchange Conference Planning Committee.

profession is incalculable. Her incisive people skills, fantastic personality, high intellect, and keen understanding of our profession will most surely be missed. I personally will miss her very sound advice and counsel.”

Medley credits her COCPA colleagues — volunteers and staff members — for all the COCPA has achieved. “When I joined the Society, we were just beginning to offer continuing professional education classes, the law mandating them having been passed the year before. Over the years together, we’ve grown our services, resources, and advocacy efforts to support the Colorado CPA profession and contribute to its continued success and relevancy in the future.”

“We’ve taken the Educational Foundation from a small scholarship program of $500 awards to high school students interested in taking accounting in college to a multi-million dollar program which funds over $100,000 in scholarships annually. We’ve implemented new systems, moved to the Cloud, and navigated the pandemic without missing a step these past two years. Our member-service-oriented team is best in class.

Our volunteers are committed to making the right things happen, and our leadership always is thinking both tactically and strategically. I’ve been privileged to do this work with these people for this profession for 47+ years. I look forward to cheering from the stands as the COCPA and the next CEO continue to make a difference for CPAs, those they serve, and their communities at large.”

“Over nearly five decades, Mary made it her mission not only to support thousands of CPAs but also to improve the environment in which they operate.”

She serves on the University of Denver School of Accountancy advisory board and the University of Northern Colorado Accounting Program Advisory Council. Involved with the national Pathways Commission effort to recommend fundamental change in the education of accountants, Medley most recently served on the State Society Relations Committee of the National Association of State Boards of Accountancy. She was the 2011-2014 president of the Colorado JumpStart Coalition for Personal Financial Literacy.

Medley is a member of her alma mater Southwestern University’s Board of Trustees, its Executive Committee, and as chair of its Compensation Committee.

“The CPA profession and Colorado’s business environment have benefited from Mary’s vast contributions.” says Gregory J. Anton, CPA, CGMA, former COCPA Chairman and American Institute of CPAs (AICPA) Chairman. “Over nearly five decades, Mary made it her mission not only to support thousands of CPAs but also to improve the environment in which they operate. I am grateful to have had the opportunity to work beside her, witness her influence, and call her a mentor and friend.”

Past COCPA President and former AICPA Chairman A. Marvin Strait, CPA, adds, “Mary’s contribution to the CPA

Angela Roberts, CPA, COCPA Vice Chair/Chair-elect adds, “Mary was the first female CEO I met, and what a force!

Her leadership and influence have been a blessing to me and every COCPA member. I continue to be amazed by her dedication and passion. Thank you, Mary, for your service over the years.”

COCPA Chair Randy Watkins, CPA, CGMA, CCIFP, is leading the CEO search committee which includes Angela Roberts, CPA, past Board member Toby Clary, CPA, past chairs Victor Amaya, CPA, and Tawnya Ramirez, CPA, and Board of Directors Community Member Amy King. COCPA COO/CLO Rebecca Campbell, CAE, is serving as the staff liaison.

March/April 2022 | www.cocpa.org

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LEADERSHIP NEWS

At the Board Table: Introducing the COCPA 2022-2023 Leadership Nominees We asked the incoming Board officers, directors, and Educational Foundation trustees to share their insights on top issues facing the profession and the COCPA, what they bring to the organization as leaders, and something about themselves personally. Here’s a succinct look at what they do and what they want you to know.

COCPA BOARD CHAIR NOMINEE

Angela Roberts, CPA Founder and Managing Partner, Aclivity, LLC, Denver

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ngela began her career as an auditor with Deloitte & Touche and as a senior manager with Arthur Andersen before transitioning into private industry as a controller, CFO, and national practice manager. Founder and Managing Partner at Aclivity, LLC, the Denver-based executive recruiting, staffing, and consulting firm, Angela also is a Mindset of Leadership Coach and Trainer. She teaches the value of becoming the most successful and effective leader and/or teams you can be to the U.S. Military, Fortune 500, and private growing organizations.

Angela first volunteered with the COCPA as a University of Colorado Denver (UCD) student member. In 2005, she founded the COCPA CFO & Controllers Roundtable which provides programming and networking opportunities for Colorado accounting and finance executives. She previously chaired the COCPA Women in the Workplace Committee and served on the Strategic Planning Committee and Board of Directors.

A lifetime Girl Scouts USA member, Angela joined the Girl Scouts of Colorado Board in 2018, serving on the Finance Committee and currently as its Treasurer. She also is a mentor for Gold Award Girl Scouts. Since 2013, Angela has helped the University of

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Colorado plan and develop curricula and programs as a Community Member of the University of Colorado Business School Accounting Advisory Council. She currently is helping to develop its Controllership and Communications-related curriculum. In 2018, Angela was one of the founding members of HomeStretch Moms, an alliance with Channel Mom and the Denver Rescue Mission dedicated to mentoring single mothers.

Angela says building the best leaders in business should be our top priority. “We do a good job of training CPAs in the technical

culture that fosters management experience, provides mentoring, and develops their leadership skills. The COCPA is in a position to help cultivate the future leaders in our CPA firms and corporate organizations.”

Her Super Power is getting to know people and their stories. “I love this profession.

I have met amazing people through the Society, and I have learned so much. I want people to know that I am dedicated to advancing your career, whether with your current organization, your next opportunity, or connecting you with someone who can!”

“The COCPA is in a position to help cultivate the future leaders in our CPA firms and corporate organizations.” aspects of accounting and finance. Developing our professional leadership skills and advancing our opportunities at the executive and Board levels is an area that could be beneficial,” she emphasizes. “And, we need to be proactive in mentoring our next generation of CPAs. Daily, through my firm, I connect with and represent CPAs who are focused on advancing their careers. A continuing theme is their desire to work in a

This Colorado native holds a Bachelor’s Degree in Business Administration and Accounting from UCD. She is married to Mark Pougnet and a proud mother of two.

When she isn’t working, parenting, or volunteering, Angela is usually found on the yoga mat, reading, traveling, or gardening.

COCPA BOARD VICE CHAIR/CHAIR-ELECT NOMINEE

Diego Baca, CPA Assurance Senior Manager, EY LLP, Denver

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iego has worked on a variety of clients in various industries including asset management, technology, health insurance, energy, media and entertainment, manufacturing, consumer products/retail, and employee benefit plans.

His twelve years at EY include experience in serving clients of varying sizes, from small startups, not-for-profits, and private equity-backed entities to large, multinational, U.S. publicly traded companies. Diego also has gained extensive experience in SEC reporting, Sarbanes-Oxley 404 reporting, and other public company reporting requirements. He says the top issues the COCPA must address include: Member engagement. “We need to find ways to make the profession special again. I want to tackle the issue of the ‘firm bubble’ as well – one in which many of our larger firm and industry organization colleagues only know and interact with CPAs from inside their organizations. The COCPA has taught me that CPAs take many different paths, and that’s made the profession even more impactful on me personally.”

Attraction and retention of future talent.

“We need to be innovative in our approach to compensation and benefits and help members and firms think of ways to shift the current model to meet the needs and wants of students and young professionals.”

Promoting the profession. “In recent years, it seems organizations have lost sight of the value and insight CPAs bring to the table.

We can do more to ensure that the profession’s value is highlighted so that the CPA is not just a back office function but rather is a critical component of the organization’s success.”

His Super Power? Authenticity.

“What you see is what you get. I’ve always tried to be myself especially in a profession that, demographically, doesn’t include many professionals who are from a similar background to mine. Coming into public accounting, I knew that to be successful, I would need to couple being authentic with being dependable, reliable, trustworthy, and passionate about what I do. I bring that same mindset to the Board in helping people see that it’s ok to be different; it’s ok to have fun and be creative. And at the end of the day, if you want to promote the profession to others, you have to be your authentic self first.”

What about when Diego isn’t working? “I love to give back to my community, so I spend a lot of my free time volunteering and mentoring students and young people.

I believe what you put into the universe is what you’ll get out of it. And, I love golf because it’s a game where YOU are your only competition. No matter what is going on around you, the only person to beat is

COCPA BOARD TREASURER NOMINEE

Amy King, CPA, CGMA Advisor, RubinBrown Advisors, Denver

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my is an advisor with RubinBrown Advisors, Denver, who enjoys helping guide clients through their important financial stages in life. Much like her clients’ back door Roth contribu-

tions, Amy’s venture into the accounting profession was through the back door. As a marketing major from the University of Colorado Boulder, her first job out of college was managing a warehouse distribution

the one inside your own head. This is such a perfect metaphor for life. I also love to listen to music, read, and go for drives to different places around the city and surrounding areas.”

“In 2022, I want to try stand up comedy again. In 2009, I performed at Comedy Works New Talent Night (in Denver). It was the longest, most stressful two minutes of my life. Recently, I’ve thought about how beautiful it is to make others laugh, so I want to try it again.”

“I hate to admit it, but I like to read SEC Enforcement actions. A partner I worked with, and my greatest mentor at the firm, once said if you really want to learn how to audit, read SEC Enforcement actions. Since then, I’ve been fascinated by the schemes outlined in those actions. They’re not only useful for the job, but, as nerdy as this may sound, they’re also entertaining.

Diego adds, “Believe it or not, I have struggled with public speaking my entire life.

I hate getting up in front of crowds and being the center of attention. Early on in my career, one of my mentors told me to grow you have to get comfortable being uncomfortable. With that in mind, I’ve taken every opportunity I could to “just do it.” During my time at EY, I’ve presented to two firm CEOs, the Americas Managing Partner, thousands of interns, and on technical accounting topics for my largest client. I’ve been on webcasts and other virtual events throughout the pandemic and even made a couple of videos for the AICPA — and I still have to psyche myself up every time. I hope this nugget helps to inspire others to do what makes them uncomfortable because the rewards are so much more satisfying when you do.”

center for Baxter Healthcare. It was a big responsibility, and to build up her financial management acumen, she went back to school for a graduate accounting degree. She also became a CPA in the process.

Amy brings with her diverse exposure to both corporate and small business perspectives. Much of her early accounting career was spent in industry at Thomson Reuters as a Financial Analyst in reporting, budgeting, and planning. After ten years and one accounting software conversion too many, CONTINUED ON PAGE 6 March/April 2022 | www.cocpa.org

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LEADERSHIP NEWS CONTINUED FROM PAGE 5 she felt called to focus on helping smaller businesses navigate the maze of payroll requirements, Colorado sales tax compliance, understanding their cash flow, and guiding them in making business decisions. She worked as a sole proprietor and then joined The Business Manager, where she supported a variety of industries and business structures. Clients began asking her questions about their personal financial issues – like how they should pay for their kids’ college, would they have enough for retirement, and were they protected enough from risk? This led Amy to become a wealth advisor, when the firm merged with RubinBrown about six years ago. These days you will find her working on her Certified Financial Planning designation.

Through all of this, the COCPA has been a mainstay for her as a place to seek out other professionals, ask advice of mentors, help contribute to the profession, and give back to the community. Financial literacy has always been an interest for Amy, and she was one of the original members of the COCPA task force that implemented the AICPA Feed the Pig financial literacy campaign in Colorado. Eldercare is another one of her passions, and she earned the

Certified Senior Advisor credential to help understand the challenges associated with an aging population and to provide better support for her clients. Amy has written several articles for NewsAccount on various

“We also need to continue drawing new generations into the accounting profession.” issues that impact the journey into growing older. She previously served on the CPE Board and as a trustee for the Educational Foundation of the COCPA. Amy says some of the top issues for the Board are to maintain relevance as an advocate and support system for COCPA members and the challenges they face every day. “We also need to continue drawing new generations into the accounting profession.

Much like those ubiquitous insurance commercials, accounting today does not mean

COCPA BOARD OF DIRECTORS NOMINEE

Ronald L. Goodrich, CPA

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President and Managing Shareholder, McPherson, Goodrich, Paolucci & Mihelich, PC, Pueblo

on has been employed with the same firm, MGPM, PC, since 1987, becoming the president and managing shareholder in November 2017. He specializes in preparing tax returns – corporations, S corporations, partnerships, individuals, trusts, and estates, and in providing advisory services, accounting services, and auditing services to not-for-profits, governmental, and small businesses. Many of his clients are in agriculture, real estate, wholesale, governmental, and not-for-profit industries.

He is a member of the firm’s technology advancement team which implemented a paperless auditing and tax return environment in late 2019. Ron previously served

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on the COCPA CPE Board. He also is a past president of the COCPA’s Southeast Chapter.

Ron holds a BA in accounting from Western State College, now Western Colorado University.

An avid hunter and fisherman, Ron spends some of his spare time working with groups on conservation issues. Currently, he serves on the Colorado Parks and Wildlife Sportsperson’s Roundtable, Arkansas River Habitat Partnership Program Committee, Fisher’s Peak State Park Planning Committee, and the Colorado Parks and Wildlife State Wildlife Area working group. Each September for more than 20 years, Ron heads to San Diego to partake in a multi-

you become like your parents! Many don’t understand the breadth of all that you can do with an accounting degree.

Her Super Power: Strong and steady. “That’s what I think of when I’m cycling up an incline – just find a gear that works and get things done.”

Amy says, “When I’m not working, you’ll find me soaking up the sun, watching my kids play softball and baseball. I’ve logged more miles than I care to count to get to all the ballparks, but it’s such a short time, and I certainly will miss it someday. When I have a free weekend, I’m off for a bike ride or up to the mountains to hike on property near Fairplay, and enjoy a craft beer at the local South Park brewery.”

“One thing I’d like for COCPA members to know about me: I’m a bit crazy about moose - maybe even certifiable! It all stems from living in Alaska for a few years as a kid.

Moose really are funky looking – part horse, part camel, and then there is that nose! My Dad always told me they must have been built by a committee. You’ll probably find me raising orphaned baby moose when I retire.”

day tuna fishing trip. For the last 40+ years, he has participated in Colorado’s big game hunting, harvesting a 6x7 bull elk in 2020 and a “very nice” mule deer in 2021. Many summer weekends, you will find Ron, his wife Lynnette, and family members in the Colorado mountains enjoying camping, hiking, wildlife viewing, and scouting.

Ron notes, “As fast as the world is changing, the COCPA should be a leader in assisting members with innovative products and mindsets to take this profession into the future. We have the opportunity to help them become competent in using the latest technology available. Also, we must promote the profession to all, including to high school students, to address the shortage of people coming into the profession.

Ron’s Super Power is his experience. “In today’s ever-changing world, that experience, working hard for what I’ve achieved, and not expecting anything to be given to me assists me in making decisions.”

COCPA BOARD OF DIRECTORS NOMINEE

COCPA BOARD OF DIRECTORS NOMINEE

David Loucks, CPA Principal, Opportune LLP, Denver

Alexandria Romero, CPA

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ave is a Principal in the Complex Financial Reporting practice at Opportune where he is primarily responsible for assisting clients with financial reporting for oil and gas operations. Dave is one of the country’s foremost experts regarding the reporting for asset retirement obligations (ARO) and the standardized measure of oil and gas (SMOG). Dave and his team developed and now implement Opportune’s proprietary Assent 143 (ARO) and Assent Leases software applications. Before joining the firm, Dave spent 14 years in public accounting, where he managed audit engagements in the energy and software industries. He also was the CFO of an INC 500 software company from 1998 to 2000. Dave is a frequent speaker on oil and gas reserves, financial reporting, networking, ARO, Leases, and SMOG. Currently, he serves on the board of

the Rocky Mountain Victim Law Center, a Denver-based not for profit. Dave graduated from the University of Denver with a BSBA in Accounting.

Dave cites the accountant’s role in ESG and what CPE will be needed moving forward

“Accounting skills are useful in many ways!” as top issues to address. His Super Power is networking and bringing people together. In his free time, Dave plays a lot of hockey and enjoys wake surfing and paddle boarding.

Dave has been a statistician for hockey games broadcast on TV since 1991. As he puts it, “Accounting skills are useful in many ways!”

COCPA BOARD OF DIRECTORS NOMINEE

Heidi M. O’Neil, CPA

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Director of Accounting, Department of Finance/Accounting Division, Denver International Airport, Denver

eidi has over 30 years of accounting experience and has led teams in public accounting, industry, and government. She has served on numerous COCPA conference planning committees and is completing her term as chair of the COCPA CPE Board this spring. She says it is rewarding work. “I enjoy helping committee members make decisions that move the COCPA’s goals forward.”

Heidi is practical about what the COCPA needs to address: Encourage accounting graduates to join the COCPA and help maintain the strength and reputation of the organization for years to come; continue to innovate and develop COCPA educational benefits and services as the profession changes; and add member value through relevant, timely, and accurate content and resources.

What’s her Super Power? Heidi says it’s her diverse career serving public and private organizations, as well as government.

“Having worked in all three gives me a much broader understanding of how leaders in our profession can truly make a difference across a wide range of industries and organizations.”

Heidi enjoys spending time with her family and looks forward to traveling again in the near future. “I also am a life-long member of the ‘bike, run, hike, swim club’ here in Colorado, aka, I stay active! I am a Colorado native and remember when skiing included having to drive over Loveland Pass, as the Eisenhower-Johnson tunnels were not yet built.”

CFO, Pueblo City/County Library District, Pueblo

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lex worked in public accounting as a Senior Auditor and Tax Accountant with McPherson, Goodrich, Paolucci and Mihelich, Pueblo, prior to joining the Pueblo City-County Library District in late 2019, where she is now the Chief Financial Officer. She is a 2019 American Institute of CPAs (AICPA) Leadership Academy Graduate and earned her BSBA with a concentration in accounting from Colorado State University – Fort Collins and her Master’s in Professional Accounting from CSU Global.

Alex is passionate about and committed to community service. She was recognized as a CPA Practice Advisor 40 Under 40 Accounting Professional; a COCPA 2021 Women to Watch Emerging Leader; with the 2021 Outstanding Women Award by the Pueblo Library Foundation; given the 2019 40 Under 40 Emerging Leaders Award by the Pueblo Latino Chamber of Commerce; as a 2019 COCPA Everyday Heroine; and as the 2018 Most Valuable Club Member by the Southern Colorado Runners Club.

Alex has served in various leadership roles including chair of the COCPA Young Professionals Council; 2021-2022 Vice Chair of the AICPA Young Member Leadership Committee; Southern Colorado Runners Club Treasurer from 2018-2020; Junior League of Pueblo Board Treasurer in 2019-2021; and as 2021-2022 Junior League of Pueblo President.

Top of mind for Alex are: Incorporating information technology into the CPA profession. “The CPA examination is moving to the CPA Core model which includes IT and controls, but more needs to be done before the new exam is implemented in early 2024.”

Increasing the number of students who choose accounting as their college major.

Attracting and retaining new accounting staff is difficult for public accounting and CONTINUED ON PAGE 8 March/April 2022 | www.cocpa.org

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LEADERSHIP NEWS CONTINUED FROM PAGE 7 industry. “If more people come into the accounting profession and become CPAs, the profession will be able to sustain itself into the future. The AICPA and state CPA societies are advocating for legislation that would recognize accounting as a STEM profession, which would positively impact the number of students seeking accounting as their career.”

EDUCATIONAL FOUNDATION TRUSTEE NOMINEE

Jeffrey Damm, CPA

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Director of Operational Accounting, SM Energy Company, Denver

Working with CPAs on how to audit, advise, and prepare tax returns involving funding received through federal relief legislation.

Thanks to PPP, the Coronavirus Relief Fund, the American Rescue Plan Act, etc., CPAs need resources from the AICPA and state societies to ensure compliance with all the new requirements and regulations.

eff has 16 years of experience in various accounting and auditing roles within the oil and gas industry. At SM Energy, he focuses on fostering a highly engaged and rewarding work environment through effective communication, employee development, and establishing robust cross-functional relationships.

Alex’s Super Power is her knowledge and experience with the Young Professional demographic at the state and national levels.

“I am passionate about and value mentoring, engaging, and educating Young Professionals. I strive to help them build their professional network and learn about the CPA profession and the vast number of career possibilities they will have as a CPA.”

He says, “I am truly blessed to work for an industry leader in the oil and gas sector that over the years has challenged me professionally and provided the opportunity to support the growth of others.” As a recurring guest lecturer for a masters-level accounting course at CSU and UNC, Jeff sees how important it is to maintain connection with those interested in pursuing accounting.

In her non-work time, Alex likes to read, travel with her husband and their son, run, decorate cakes, and volunteer. She wants members to know: “As Colorado CPAs, we are lucky to have one of, if not the best, state CPA societies in the country. I intend to do my best to help continue its legacy and good work, while also looking into and planning for the future of our profession and the COCPA.”

Jeff is excited to join the Educational Foundation of COCPA and the new opportunity to advocate for the profession and those considering it as their career path. He is a past member of the COCPA Audit Committee.

The top issues Jeff sees: “Ensuring we continue to advocate for our profession and help support those interested at an early age.”

EDUCATIONAL FOUNDATION TRUSTEE NOMINEE

Stephanie Daniels, CPA

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Accountant, Assurance Services Group, RubinBrown LLP, Denver

tephanie began her accounting career at RubinBrown in 2014 after graduating with her master’s degree in accounting, summa cum laude, from the University of Northern Colorado. While in school, her work as a co-author was published in two tax publications. She earned her CPA in 2015. She left RubinBrown in 2017 and held accounting positions in various governmental and public organizations.

Stephanie returned to RubinBrown in early 2021. She provides client services in audits of non-profit, governmental, and private organizations.

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NewsAccount | March/April 2022

Stephanie says one of the biggest challenges facing the accounting profession is the decline in the pipeline of accounting students. “We need to start talking to high school students about the options available to them and what we do as accountants, auditors, consultants, financial advisors, etc.”

Her Super Power is her personal experience as a first generation, non-traditional student who relates to those who don’t fit the traditional college path and the challenges they encounter in reaching their goals. “I hope to be that person who inspires a shared vision and models the way for other students like me.”

He wishes his Super Power would be “my golf game, but realistically, it is my commitment to the success of those with whom I work. My goal is to help others reach their highest potential, regardless of whether the person is a new hire or my superior.”

“My goal is to help others reach their highest potential.”

Jeff was born, grew up, and currently resides in Centennial, Colo. He and his wife are parents of “two awesome little boys, eight and six, who occupy most of our free time.” When Jeff isn’t working or tending to the multitude of activities his kids are involved with, including coaching kids sports, you will most likely find him on the golf course.

He reports that “after 39 years on this planet, I can finally solve a Rubik’s Cube.”

When she’s not working, Stephanie loves to spend time at home with her family and her two dogs. She enjoys traveling to new places and having adventures such as horseback riding, sailing, scuba diving, and even swimming with stingrays and nurse sharks.

Stephanie says, “I care deeply about sending the elevator back down. I couldn’t have accomplished the things I did without the support of my husband, family, and organizations such as the COCPA Educational Foundation providing me with scholarships.

No one accomplishes much on her or his own; it takes people who believe in us and cheer us on along the way.”

There’s so much more to Stephanie’s story, which she will share as a speaker for the See Me: Stories of Diversity, Equity, and Inclusion virtual event on May 25, 2022. Tune in, and be inspired.

EDUCATIONAL FOUNDATION TRUSTEE NOMINEE

Matthew Ogaz, CPA Senior Manager, Internal Audit, CoBank, ACB, Englewood

M

atthew works in the Internal Audit department at CoBank, ACB, which is one of the largest private providers of credit to the U.S. rural economy. The bank delivers loans, leases and other financial services to agribusiness, rural infrastructure, and Farm Credit customers in all 50 states. He leads the group’s Sarbanes-Oxley program. Previously, he worked at EY in the Denver assurance practice. He has a Bachelors’ in Accounting and Masters of Accountancy from New Mexico State University.

Matthew looks forward to joining the Educational Foundation Board of Trustees “because I understand the importance of scholarships in a student’s education, and I remember how important they were to me.

As a minority student, who came from an agricultural background, the entire process of getting my accounting degree was foreign to me. Without the generous donors and organizations that gave their time and

money to shaping my career, I don’t think I would have pursued my CPA, gone into public accounting, and ended up where I am today. Now that I am in a position to give back, this opportunity excites me. I know I can help make a difference in the lives of individuals who are the future of our profession.”

Matthew brings diverse experience to the Foundation Board. He identifies himself as “a minority CPA, who knows firsthand the importance of diversity in our profession and the challenges all students can face in the accounting world. Additionally, my background in public accounting at EY, where I worked in the external audit service line and helped co-lead the College MAP program which helps mentor and create a pathway for at-risk high school students in Colorado, helped shape my passion for helping others. Also, I served on the Programming Committee for MENTOR Colorado,

which provides resources and funding for mentoring programs in Colorado.”

Matthew recently completed the Denver Metro Chamber of Commerce Impact Denver program and currently co-leads CoBank’s Young Professionals Associate Resource Group as part of its overall Diversity and Inclusion initiatives.

For him, top issues include promoting diversity in the profession; providing outreach and support to those students in most need; and advocating for the profession in the most effective way possible.

Matthew says his Super Power is his passion for helping people. “Whether it’s through mentorships or charity work, I really enjoy helping others, and I am excited for this opportunity.”

He likes to spend time outdoors as much as possible. “My wife and I enjoy camping and hiking, as well as attending concerts. I am quickly becoming obsessed with golf and fly fishing, and I’m ready to enjoy Colorado’s warmer months. COCPA members need to know that I am excited for my opportunity with the Educational Foundation and looking forward to bringing my diverse and unique background to the group!”

EDUCATIONAL FOUNDATION TRUSTEE NOMINEE

Caitlyn O’Neil, CPA, MT Senior Tax Accountant, CBIZ MHM, Denver

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aitlyn is a senior tax accountant at CBIZ MHM, Denver. Outside of work, this proud cat mom of two is active in several leadership roles. She serves as the Business Representative on the Board of Directors of Colorado’s Future Business Leaders of America (FBLA). Also, she serves on the finance committee for National FBLA. Caitlyn gives back to her sorority, Alpha Omicron Pi, Epsilon Gamma chapter, as the advisor for the Vice President of Communications. This energetic and enthusiastic young professional is involved with the COCPA Diversity, Equity, and Inclusion Working Group, Financial Literacy Committee, and Young Professionals Council.

She was recognized with the COCPA’s 2021

Everyday Heroine Award for her community service.

Caitlyn says top issues to address include the decreasing number of students pursuing accounting; clients’ needs regarding the effects of the pandemic and new legislation; and the continuing inequality of opportunities for people from historically marginalized populations. She has written a series of NewsAccount articles, Advice from an Autistic.

Caitlyn is truly committed to excellence in everything she does, and that is her Super Power. She loves to spend her free time volunteering, traveling (“COVID permitting”), hanging out with friends and family, learning new things, and practicing yoga. FYI, she makes “fantastic chocolate chip cookies.”

THANK YOU

Peter J. Derschang, CPA CFO, Leeds West Groups Greenwood Village For your service to the COCPA as 2020-2022 Treasurer

March/April 2022 | www.cocpa.org

9

STATE OF THE STATE

From Top Ten Safest to Number One in Theft: The Colorado Crime Wave

BY NATALIE ROONEY

Periodically, NewsAccount reports on local, state, and national issues. In this article, contributing writer Natalie Rooney explores with George Brauchler the surge in criminal activity. A new report flags Colorado as the #1 state in the country for car theft and personal property theft. What can be done to turn the tide before the Centennial State is no longer considered a great place to work, operate a business, and rear a family?

C

olorado is number one - but not in a good way according to The Colorado Crime Wave: An Economic Analysis of Crime and the Need for Data Driven Solutions, a report from the Common Sense Institute (CSI), a non-partisan research organization dedicated to the protection and promotion of Colorado’s economy. Its mission is to examine the fiscal impacts of policies, initiatives, and proposed laws so that Coloradans are educated and informed on issues impacting their lives. CSI’s December 2021 report revealed:

While Colorado’s data is startling, it’s part of a trend happening across the U.S.

• Colorado led the nation in its rates of increased property crimes and auto theft in 2020.

WHAT’S DRIVING THE CRIME SURGE? No one, from legislators to criminologists to local law-enforcement officials, agrees on the reasons for the surge in violent crime, varyingly attributed to stress from the COVID-19 pandemic, lack of support for law enforcement, bail reform, and efforts in some cities to bring fewer prosecutions.

• The average monthly crime rate in Colorado is 28 percent higher than it was in 2011. The violent crime rate has risen 35 percent since 2011. Nationally, the increase was 3 percent.

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NewsAccount | March/April 2022

• The 2020 murder rate was 106 percent higher than in 2011. The rape rate was 9 percent higher, with assault up 40 percent.

• Just 10 years ago, the rate of motor vehicle theft in Colorado was lower than the national average. Since then, the Colorado rate has increased by 135 percent, while the national rate has increased just 3 percent through 2020.

While Colorado’s data is startling, it’s part of a trend happening across the U.S. Recent FBI data shows that across the U.S., one of the most dramatic increases in crime - in history - occurred in 2020. The number of homicides increased by 23 percent, the

largest increase ever recorded. The homicide rate of 6.5 per 100,000 in 2020 represents a 27 percent increase, also a record jump. The growing numbers don’t end with homicide.

Carjacking increased by about 11 percent, the largest increase in decades. Arson increased by 21 percent. Overall, violent crime increased by about 5 percent.

As a former district attorney for Arapahoe County, George Brauchler has had a front row seat during the crime surge. He is a co-author of the CSI report.

Colorado’s crime problems didn’t happen overnight, and Brauchler says don’t be swayed by arguments that try to pin the crime wave on the pandemic. “The trend started ten years ago,” he says. The report data bears that out. FBI data show property crime, motor vehicle theft, theft, and violent crime rates in Colorado have been outpacing the national average since 2011.

“Colorado has always been one of the top ten safest states in the country,” Bauchler says. “Now, we’re not only not in the top ten, but also it’s going to take an ambitious effort to get us back there. We are one of the top five states for recidivism. We are failing.”

In 2013, Brauchler’s office filed 3,500 – 3,600 felonies. By the time he left the district attorney’s office in January 2021, the number exceeded 5,500. “That’s an explosion,” he says.

“And it wasn’t just my office. Every DA in the state saw those numbers go up. This wasn’t pandemic-induced anything.”

So, if it’s not the pandemic, why is this happening in Colorado and around the nation? It’s due to a multitude of factors.

Last July, Denver Police Chief Paul Pazen said while his officers were arresting a record number of armed felons, the Denver County Court and Denver District Attorney’s Office were releasing them with low or no bonds.

At the same time, many police officers have chosen to reduce their engagement in minority communities to reduce the possibility of an incident that might be deemed racially motivated.

“The data is inescapable,” Brauchler says. “Either our willingness to cut back on accountability spurred this crime wave or it’s really coincidental.”

As district attorney, Brauchler heard a consistent refrain from repeat offenders: “I know I’m not going to jail.” In addition, there’s a more recent tendency to put “just” in front of a lot of crimes: “just” car theft or “just” a low-level offense. “We ask our police to take risks, but then these individuals are right back out on the street,” he says.

“That’s frustrating for law enforcement.”

Despite the rapid rise in crime, the news is filled with people who are given a personal recognizance (PR) bond for gun possession, violent crime, and sex offenses. “I’ve never seen anything like it,” Brauchler says. “We’re seeing PR bonds for these charges in huge numbers.”

From the Catbird Seat

BY NATALIE ROONEY

W

hile Colorado’s cities are facing challenges, including the rise in crime and homelessness, it’s still possible to be optimistic about the future, according to two Colorado CPAs who see both the challenges and the opportunities.

DOWNTOWN DENVER As Colorado’s most populous city, Denver has some special challenges. Denver City Auditor Timothy M. O’Brien, CPA, sees them every day from his downtown office. “Certainly, the virus continues to impact all of our lives,” he says. He ticks off a list of other concerns: the labor shortage, the homeless population and the tent cities, affordable housing, and strained mental health services.

At the City and County of Denver, O’Brien says the headcount is down as much as 20 percent in some departments and 10 percent across the board.

“That’s significant,” he says, stressing the impact on things like waste management where employees already are working mandatory 60-hour work weeks and receiving double time pay. “Just like the medical profession, how long can they cope with the stress the virus is putting on them?” he asks.

O’Brien doesn’t have statistics on how the pandemic has impacted the homeless population, but tent encampments around Denver are a noticeable reminder of the challenges facing Denver’s homeless individuals. “The encampments are an issue,” he says. “Some people are for them; some people are against them. There’s not a lot of middle ground. Mental health services are being stretched. We’re currently looking at people who were inmates in the Denver jail system where they received mental health care, but is there a continuity of care?”

O’Brien cites affordable housing as an issue everywhere. “Housing costs in general don’t seem to have a ceiling,” he says. “They still haven’t topped out.”

Despite the challenges, O’Brien says he sees people working hard and continuing to push forward. “Services are still being delivered at a high level.”

The big unknown is how our workplaces will continue to evolve, and O’Brien

“Many things continue to be dependent on the ongoing pandemic and when we evolve into whatever comes next.” thinks that offers new opportunities. His office currently employs three people who moved out of state. “We can look at hiring people outside the city and even the state,” he says, adding that some of the city’s labor issues will continue to be impacted by how safe people feel coming downtown. “Many things continue to be dependent on the ongoing pandemic and when we evolve into whatever comes next.”

Despite the myriad challenges, Denver has some exciting things on the horizon. The gate expansion work at Denver International Airport wrapped up in 2021, and redevelopment of the Great Hall/main terminal is up next.

CONTINUED ON PAGE 12 March/April 2022 | www.cocpa.org

11

STATE OF THE STATE CONTINUED FROM PAGE 11

In downtown Denver, construction projects have continued throughout the pandemic, and the city continues to look at new projects.

“Denver and Colorado are still a very attractive place to be, and people are delighted to move here,” O’Brien says. One new hire decided to relocate to Denver from Arizona. “That’s encouraging,” he says. “I don’t know why it took people so long to realize Denver is great, but they’re coming here, and that’s a positive sign for labor.”

Another high note is Denver’s financial position, which was already strong going into the pandemic and made stronger by federal stimulus money. Some of the spending has been pushed into the future when it will be needed.

O’Brien says the Colorado legislature is focused on economic development and getting the economy back on track. “It won’t be like it was before, but there’s opportunity in that,” he says. “Both federal and state legislators are focused on putting economic incentives in the right places to keep the economy going.”

Overall, O’Brien is optimistic about the future. “I think the people I have working for me are truly concerned about the city they live in and want to see it be better. I think that’s what we bring to the table every day – how we can be positive.”

GRAND JUNCTION On the Western Slope, Christopher L. West, CPA, CEO at Dalby, Wendland & Co., P.C., says the city and county have done a good job of addressing new issues such as a growing homeless population. “Our Grand Junction office is downtown, and we experience it on a daily basis.” He says city and community leaders have stepped up with shelters and programming, and policing has helped mitigate the impact.

West is aware that crime statistics are on the rise around the state and that in Grand Junction, numbers are above the state average. “That’s concerning,” he says. “I can’t put my finger on why, other than the influx of people into Colorado over the last two years and as people leave metropolitan areas to be in a more rural setting here in western Colorado.” He knows people who are moving to the area and working remotely to take advantage of a lower cost of living than in places like Denver or even the West Coast. “In our own hiring process, we hear that daily,” he says.

For West, the low housing inventory and the need for low-income housing come to mind when he considers crime in Grand Junction and Mesa County.

West says despite the challenges, he’s optimistic about the future of the state and the Western Slope. Colorado is so often in the top 10 of various polls for a great place to live and do business. “There’s still a pro-business mindset and an openness to growing and welcoming business into our communities,” he says. He cites the local chamber of commerce and Colorado Mesa University, both of which do a good job of talking to business owners and being proactive about bringing business to the county. While these aren’t the big software companies that choose Denver, West says great smaller and mid-size companies have relocated thanks to local leadership efforts. “I’m optimistic here and at the state level that we’ll maintain a pro-business focus.”

“It’s a strange world right now with everything that’s going on in response to the pandemic, the labor market, and the supply chain,” West says. “Leaders of every state are dealing with numerous challenges, but I’d call myself an optimistic person and confident when it comes to the outlook for Colorado.”

EDITOR’S NOTE: How is it going in your corner of Colorado? Send your comments for publication consideration to Mary E. Medley, mary@cocpa.org.

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NewsAccount | March/April 2022

DENVER IS DIFFERENT Brauchler also says there’s a different type of crime in Denver. “No one wants to go into downtown Denver anymore. They don’t want to be accosted by a panhandler from the tent cities.

This is a growing issue. The culture feels like it changed.”

Brauchler says he’d love to see a study mapping the felony offenses in all of Denver’s surrounding counties and then trace back to where the offenders came from. “My guess is that Denver’s lax enforcement policies have led to this unprecedented surge. There’s a saying, ‘When America sneezes, the whole world catches a cold,’” Brauchler says. “I think the same applies to criminal justice and Denver. It’s lax, and everyone else sees an uptick.”

Denver’s property values remain high, so there’s no lack of interest in people living in Denver at this point, but Brauchler points out that cities ebb and flow, die and come back again, as people move in and out. “We’re in that cycle. If people want to move away from Denver, they can do it pretty easily right now because of remote work.

Colorado is an amazing state, but Denver is in real trouble. Surging crime is something that makes people think twice.”

Brauchler offers a sobering warning: “Unless we change right now, this does not subside.

Policy change is needed. For ten years, Colorado had the number one economy in America. This crime surge happened while our economy was kicking butt. Now, we’ve fallen to 33rd.”

Even in the face of all of this, Brauchler remains optimistic “because I’m a Coloradan. I love this state, but I’m concerned. I’m really bothered by the number of victims there are and how we’ve put law enforcement on its heels and lost good members because they were maligned. We’re in a tough spot.”

LOOKING FOR LONG-TERM SOLUTIONS The CSI report concludes with a few suggestions, including encouraging policymakers to establish more transparent reporting and a public facing information dashboard that demonstrates how the current system supports communities, victims, and individuals returning to society following incarceration.

“We need to tackle the low-hanging fruit and get back to accountability and responsibility,” Brauchler says. But he doesn’t believe that the answer to long-term public safety is locking people up and throwing away the key. “I’ve never been about that.”

Other communities around the country are developing juvenile diversion programs, which Brauchler points out aren’t a result of legislation,

but rather prosecutors who got together to “treat kids like kids when we can.” His DA office had one of the best juvenile programs in the state with less than seven percent recidivism. “This is the type of forward-thinking work we’ve been doing, but not every 17-year-old can be treated

bonds, and common-sense sentences for the state’s most recalcitrant repeat offenders.

He remains committed to finding longterm solutions, and that involves addressing children from birth to age 12. “If we can do a better job providing leadership, guidance, more secure family structures, and educa-

“If we can do a better job providing leadership, guidance, more secure family structures, and education, crime would plummet.” like a kid,” he adds. “For murder or rape, they won’t get the kid treatment.” However, laws were changed for all juvenile offenders to get out of prison earlier, and that’s one factor that’s driving crime up according to Brauchler.

In the short term, Brauchler says we need to get back to common sense, rational bail and

tion, crime would plummet,” he asserts.

“Right now, we’re just throwing money at the problem and making excuses for why it’s OK to put single moms in positions that they have to work, so those kids get into trouble, make bad decisions, have no father figures, and experience domestic violence.”

This isn’t something that’s solved overnight.

Rather, it happens over the course of a generation.

The data and new stories about crime can feel overwhelming, but there are things Coloradans can do to start pushing for change from the ground up.

It starts with elected officials. “If you have influence with elected leaders, tell them enough is enough,” Brauchler advises. “Tell them to change their approach to crime fighting and criminal justice, or we’re going to think about different places to live or locate our businesses.” He says public safety hasn’t been an emphasis during the last several election cycles, but now the issue is front and center. “Elections bring results.

The only thing that feels like it will make a difference is voting – at the ballot box and with our feet.”

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kathy@accountingbizbrokers.com christy@accountingbizbrokers.com March/April 2022 | www.cocpa.org

13

SUSTAINABILITY REPORTING

Introduction to ESG Reporting Standards and Frameworks

BY STEPHEN D. WILKERSON, CPA, CFSA

Environmental, social, and governance (ESG) reporting standards and frameworks are crucial to provide consistent and comparable reporting of relevant ESG information. Several significant changes have occurred in the past year related to ESG reporting. This article focuses on demystifying these ESG reporting changes and serve as a brief introduction to ESG standards and frameworks.

ESG REPORTING CHANGES Several large consolidations of ESG reporting foundations occurred in 2021. Formation of the International Sustainability Standards Board (ISSB) was announced at the COP26 (Conference of the Parties) climate conference in November 2021 by the International Financial Reporting Standards (IFRS) Foundation. The ISSB will be overseen by the IFRS Foundation Trustees, who also oversee the International Accounting Standards Board (IASB). The ISSB was formed and organized such that the IFRS Foundation is giving sustainability accounting equal footing with financial accounting.

The ISSB is expected to set sustainability disclosure standards that are shareholder focused and industry specific, like the Sustainability Accounting Standards Board (SASB) standards. The new international standards are not starting from scratch, as the ISSB is using and consolidating most of the prominent ESG standards and frameworks in drafting the new standards.

also is common for companies in the same industry to issue their ESG reports at different times using different reporting boundaries, accounting methodologies, metrics, measurement units, and reporting formats. The establishment of the ISSB is expected to address these differences to improve the comparability of ESG information as the ISSB’s standards are positioned to be the predominant ESG standards focused on enterprise value, i.e., focused on shareholders.

The Value Reporting Foundation recommends that companies do not wait until the full ISSB standards are released to report ESG information. Companies are expected to continue using existing ESG standards while the standards from the ISSB are drafted.

EXISTING STANDARDS & FRAMEWORKS Global Reporting Initiative (GRI) Standards, Task Force on Climate-related Financial Disclosures (TCFD), and SASB Standards are three of the significant ESG standards and frameworks used.

In addition to consolidating the standards, the ISSB is consolidating organizations and personnel. The Climate Disclosure Standards Board (CDSB) and the Value Reporting Foundation (VRF) are to be merged into the IFRS Foundation by June 2022. The VRF is the successor to the SASB and the International Integrated Reporting Council (IIRC).

The VRF was formed when the SASB and IIRC merged in June 2021.

• GRI Standards help organizations report on significant impacts on the economy, environment, and surrounding society. GRI disclosures cater to a broad range of stakeholders instead of focusing on shareholders and are the most widely used ESG reporting standards globally.

An issue of ESG reporting has been that information disclosed is often not comparable between companies or highly relevant.

• SASB Standards are focused on the information needs of shareholders and designed to produce information that is financially material, decision useful, and cost-effective. SASB Standards are commonly used by public companies. More than half of the companies in the S&P Global 1200 Index and nearly 1,300 businesses use SASB Standards.

An issue of ESG reporting has been that information disclosed is often not comparable between companies or highly relevant. This is because companies can choose which ESG standard or framework it uses for its ESG report. It is common for large public companies to use multiple standards and frameworks for their ESG report. It

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NewsAccount | March/April 2022

• TCFD is a principles-based framework for climate-related financial disclosures.

A company’s decision to identify what to disclose and what ESG standard(s) or framework(s) to use depends on several factors, including: • What is commonly disclosed and relevant for the industry • Company strategy and focus • Reporting requirements, if any • Intended audience for the ESG report

EXAMPLE OF SASB STANDARDS The SASB Standards are organized into 77 industries across 11 sectors, including the commercial banking industry. Commercial banks have five topics that apply to them: • Data Security • Financial Inclusion and Capacity Building • Incorporation of ESG Factors in Credit Analysis • Business Ethics • Systemic Risk Management Within these five topics, there are 12 accounting metrics and two activity metrics to be disclosed by companies.

For example, the Financial Inclusion and Capacity Building topic includes the following four accounting metrics: • (1) Number and (2) amount of loans outstanding qualified to programs designed to promote small business and community development • (1) Number and (2) amount of past due and nonaccrual loans qualified to programs designed to promote small business and community development • Number of no-cost retail checking accounts provided to previously unbanked or underbanked customers • Number of participants in financial literacy initiatives for unbanked, underbanked, or underserved customers

Activity metrics give context to accounting metrics by stating the quantity of activity, which allows for comparison of accounting metrics across organizations of different sizes. The two activity metrics for the commercial banking industry are: • (1) Number and (2) value of checking and savings accounts by segment: (a) personal and (b) small business • (1) Number and (2) value of loans by segment: (a) personal, (b) small business, and (c) corporate SASB Standards can be downloaded by industry on the Value Reporting Foundation’s website at sasb.org/standards/download.

Stephen D. Wilkerson, CPA, CFSA, FSA Credential Holder, is a manager with BKD LLP, Denver. Contact him at swilkerson@bkd.com.

This article is for general information purposes only and is not to be considered as legal advice. This information was written by qualified, experienced BKD professionals, but applying this information to your particular situation requires careful consideration of your specific facts and circumstances. Consult your BKD advisor or legal counsel before acting on any matter covered in this update. Article reprinted with permission from BKD CPAs & Advisors, bkd.com. All rights reserved.

Become a PEER REVIEWER The CPA profession relies on Peer Reviewers to monitor the quality of accounting and auditing services provided by firms. The COCPA is seeking qualified applicants to perform firm reviews.

GAIN Experience

Be seen as an expert in your field • Gain broader practice knowledge through the peer review process, which will help sharpen your skills and reinforce your strengths.

• Create the opportunity to receive referrals for additional consulting work.

ENHANCE Quality

Provide benefits to your firm • Identify best practices of other firms and apply them to your own.

• Create an opportunity to develop an additional profit center for your firm.

SERVE Your Profession

Contribute to the quality of the profession • Help firms achieve practice goals and improve the quality of their A&A. • Enhance the effectiveness of the profession’s self-regulatory efforts and contribute to the quality of the profession.

March/April 2022 | www.cocpa.org

Want to know more? Contact Jill Turner at 303-741-8605 or jill@cocpa.org

15

RECRUITMENT INTO THE PROFESSION

Filling the Accounting Pipeline: One Person Makes a Difference

BY NATALIE ROONEY

The number of accounting majors at colleges and universities around the country continues to decline. One COCPA member is on a mission to change that.

Now, part of his role at KPMG is recruiting and interviewing students, primarily at Colorado State University (CSU) in Fort Collins. CSU’s Accounting Department Chair Lisa Kutcher had mentioned the number of accounting majors was down. In fact, the numbers had never been lower in the 12 years she had been at the university. The University of Denver and the University

The move to virtual classes, including the all-important introduction to accounting class, is a challenge.

A

ccording to the 2019 AICPA Trends Report on the supply of accounting graduates and the demand for public accounting recruits, the number of new CPA exam candidates had hit a 10-year low. Projections for those seeking accounting degrees were down four percent for a bachelor’s degree, six percent for a master’s degree, and 23 percent for Ph.D. candidates.

The AICPA reported the continued declines are being driven by “both economic conditions and an expansion of the alternatives available” to potential accounting students, who are “opting to enter or remain in the workforce in lieu of pursuing an advanced accounting degree or to pursue other avenues for advanced education.” The next AICPA report, expected to be released later 16

NewsAccount | March/April 2022

this spring, is likely to show the downward trends have continued.

KPMG Audit Partner Brian Schilb, CPA, Denver, is taking a proactive and personal approach to filling the pipeline of accounting students and turning around the trends.

Schilb has a lot of career and life experience to share with young people. After serving in the Marines, he began his accounting career with Arthur Andersen before moving to KPMG. A two-year hiatus from KPMG allowed him to complete a fellowship at the Financial Accounting Standards Board in Connecticut.

of Colorado Boulder were experiencing a similar trend. The issue wasn’t unique to Colorado; Schilb’s contacts in Texas reported the same problem. “I’ve just been reaching out and talking to a lot of people to come up with ideas about what we can do as a profession to help,” Schilb says.

WHAT’S BEHIND THE DECLINE? Although much of the information is anecdotal, schools say they’re facing a lot of hurdles right now, not the least of which is the ongoing COVID pandemic. The move to virtual classes, including the all-important introduction to accounting class, is a challenge. “For students who have decided to major in business but are undecided as to which track they’ll follow, fewer are converting to accounting as a major,” says Schilb. “In a more typical year, several of those students would decide to major in accounting.”

An increased emphasis on technology, whether that’s data analytics or anything that’s IT driven, also is cutting into the

number of accounting majors. “There’s a perception that there’s not a lot of technology in accounting,” Schilb says. The AICPA is advocating for accounting to become a part of the STEM major at universities to counter this belief. “Schools would benefit by pushing that and embedding more technology in their curricula,” Schilb says. “In the real world, we’re using a lot of technology. It’s very important for students to be comfortable with those tools and concepts when they come out of school, and we need to convey that information to them.”

Students also are well aware that the starting salaries for accounting positions are lower than other concentrations. These issues, combined with the 150-hour requirement which usually requires an extra year of school, leads students to choose a different degree path.

MAKING A DIFFERENCE IN COLORADO Schilb became determined to spark a change. “I knew we needed to do something for CSU,” he says. How could it recruit more accounting students? One idea was to reach out to Denver high school students. He wondered if the high school level were too early to talk to students about the accounting profession. He and his colleagues

high achievers I’m around every day, the presentations and trainings I’ve done, what it was like to live in New York City, work at FASB, and travel to Europe for my work.

Without accounting, I wouldn’t have done all of these amazing things. I don’t think another major gives you the opportunity for an early access point as an accounting major does.”

FBLA state conference to talk about the technology involved with accounting and finance. “We should take advantage of these large groups that are already interested in business and talk about the opportunities in accounting.”

Schilb says high school students are genuinely interested in and surprised by what he shares. He provides examples of executives in a multitude of roles. “Their perception of accounting is primarily what they see on TV and in the movies – the stereotype of Kevin on The Office. I assure them it’s not actually like that,” he laughs.

Schilb says it’s just as important to get in front of school administrators and show them the STEM aspects and heavy influence technology has on accounting. In addition, Colorado requires the teaching of personal financial literacy content to students from preschool age through grade 12. “We’re all experienced in personal finance and can relate to it,” he says. “There is no one more qualified than CPAs. It’s a way to get our foot in the door.”

As Schilb speaks with students, he walks around the room to keep them engaged. “I discuss concepts and ideas I think they can understand and will resonate with them.”

He lets each class of students take the conversation wherever it goes, with the focus on careers in public accounting. “It’s such a broad profession with so much opportunity,” he says. “You can chart your own course and set your own path in accounting, no matter what you want to do. That’s what I want students to know.”

Schilb has talked to many people about this outreach effort, and they’re also interested in helping spread the word about how great an accounting career can be. One of his goals is to create a blueprint that could be used not just at KPMG but also at other firms to maximize efforts that benefit the profession as a whole. He’s open to ideas from schools as well and is contacting the accounting departments and business schools at Colorado’s larger universities.

“Their resources are constrained,” he

“I don’t think another major gives you the opportunity for an early access point as an accounting major does.” decided it wasn’t, and Schilb ran with the idea, emailing 18 different high schools. “We decided to turn it into an experiment,” he says.

Schilb heard back from nine of the high schools on his list. To date, he has been to four with three more scheduled.

When Schilb visits, he makes a point of personally connecting with the students.

Instead of standing at the front of the class and lecturing or flipping through a slide deck, he talks about career opportunities and dispels myths about what CPAs are like and the work they do. “I talk about what I’ve seen in my career and all of the opportunities I’ve had. I give examples of how accounting intersects with the financial world, the capital markets, and technology,” he says. “I talk about the socially extroverted

TURNING AROUND THE SHIP Schilb says the profession’s leadership needs to address the downward trend in the number of accounting majors and remember three things: “The importance of what we do, all the opportunities the accounting profession has provided to us, and how we can make young people aware of accounting as a potential profession.”

The answer isn’t complicated. “It’s just a matter of getting in front of the right people and identifying who we can talk to,” Schilb says.

Schilb plans to extend his reach by speaking with two high school student groups: the Future Business Leaders of America and DECA which have chapters around Colorado. “These students are the high achievers we should be reaching out to,” he says. He has applied to be a presenter at the April

acknowledges. “So, if we’re offering the people power and they can provide the audience, we’re happy to come in and speak to students who are undeclared. We’d love to get in front of those students.”

Schilb calls his efforts hugely worthwhile.

“I’m excited to be involved in this. We have a real opportunity to make a difference.”

EDITOR’S NOTE: Interested in becoming involved in the pipeline outreach initiative?

Contact Brian Schilb at bschilb@kpmg. com or Kathryn Metzger, COCPA Student and Faculty Engagement Representative, at kathryn@cocpa.org.

March/April 2022 | www.cocpa.org

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FIRM STRATEGIES

Start Planning Now: CPA Evolution and the Future CPA Firm Workforce

BY CARL MAYES, CPA

F

or the past few years, the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have collaborated with stakeholders to reimagine CPA licensure through the joint CPA Evolution initiative, an effort to transform the CPA licensure model.

The organizations have now reached the critical implementation phase which addresses the rapidly changing skills and competencies required of a 21st Century CPA. Many students slated for spring and summer 2022 internships will sit for the new, CPA Evolution-aligned CPA Examination, which is expected to launch in early 2024. This has implications for firms in a variety of areas, from recruiting considerations to engagement with academia. The time to start developing your firm’s strategy is now.

CPA Evolution will bring about some of the most substantive changes to licensure in decades, including a new Core + Disciplines licensure model, increased coverage in areas like information systems and data analytics, and the addition of personal financial planning.

But what does it all mean for your firm? Here are some top considerations to aid your hiring and recruitment strategies.

Universities are changing their curricula to incorporate emerging topics. In another fall 2021 pulse survey, the AICPA and NASBA asked accounting faculty about their plans relative to CPA Evolution. Here’s what they heard: • 88% of respondents indicated their accounting program will be making curriculum changes based on CPA Evolution • 81% said they expect to make curricular changes by fall 2022 To inform hiring decisions, firms may want to reach out to the universities where they recruit to determine what, if any, curriculum changes are being made. Practitioners also may consider aiding the academic community in the transition. Nearly half of the faculty that won’t be making curriculum changes cited challenges in finding

Subject matter experts at your firm might consider serving as guest lecturers or adjunct professors to ensure the next generation of CPAs has the skills and competencies needed to be successful.

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Students are more interested in pursuing CPA under the new licensure model. In a fall 2021 AICPA-NASBA survey of accounting students, 85% of respondents indicated the new approach to licensure either increases their interest in pursuing the CPA or keeps their interest at a very high level. In discussion groups with students, common themes included their heightened interest in areas like data analytics, cybersecurity, and information privacy, all of which are expected to be addressed in the new CPA exam based upon preliminary practice analysis ng research. ni an This presents an opportunity for firms when recruiting new staff. In addition to highlighting the earnings power of CPAs and the impact they can have on society, consider discussing the impending changes to the licensure model and how they reflect the exciting work firms are doing in emerging

areas. For students interested in technology, there has never been a better time to pursue the CPA credential.

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qualified personnel to teach emerging topics. Subject matter experts at your firm might consider serving as guest lecturers or adjunct professors to ensure the next generation of CPAs has the skills and competencies needed to be successful.

Many accounting program graduates will have different skill sets. As academic programs evolve, students are expected to pursue learning tracks aligned with their interests. In a 2020 AICPA-NASBA survey of students: • 54% of respondents indicated they plan to pursue the Business Analysis and Reporting discipline • 24% plan to pursue Information Systems and Controls • 22% plan to take Tax Compliance and Planning To pass these disciplines, students will need more knowledge and skills in the related subject matter, and firms will be the beneficiaries. In fact, in an April 2021 AICPA-NASBA survey of firm hiring directors, 83% of respondents from firms with 11 or more personnel indicated that if accounting programs were aligned with CPA Evolution, their hiring of new graduates from accounting programs would likely increase, accounting program graduates would be considered more valuable than they are today, or both.

Firm leaders may want to engage with the firm’s HR team to consider how CPA Evolution will impact their approach to talent acquisition moving forward.

Firm leaders may want to engage with the firm’s HR team to consider how CPA Evolution will impact their approach to talent acquisition moving forward.

NEXT STEPS The AICPA is currently conducting a practice analysis, aicpa.org/resources/toolkit/cpa-exam-practice-analysis, to determine the knowledge and skills required of newly licensed CPAs that should be assessed in the CPA Evolution-aligned exam. An associated CPA Exam Blueprint, which will detail content eligible for testing in each of the Core and Discipline sections, is expected to be issued for public comment in mid-2022 and published in final form in early 2023.

As CPA Evolution continues to progress, go to EvolutionofCPA. org for updates. Email your questions to the AICPA and NASBA at Feedback@EvolutionofCPA.org.

Carl Mayes, CPA, is AICPA Senior Director – Audit & Accounting Quality. Contact him at carl.mayes@aicpa-cima.com.

March/April 2022 | www.cocpa.org

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COMMUNITY SERVICE

Making Your Mark in the Nonprofit World

BY NATALIE ROONEY

If you still think one person can’t change the world, think again. You have the power to make a difference in many ways, and one Colorado organization can help you discover how to do it.

I

f you’ve been wondering how and why to be involved with a local nonprofit organization, you need to know about Spark the Change Colorado, a volunteer center devoted to volunteerism. “We use volunteerism as a strategy to get good work done in communities,” says President and CEO Kristy Judd.

Spark the Change Colorado (Spark), formerly known as Metro Volunteers, is a leading resource, strategist, and partner that inspires, engages, mobilizes, and empowers individuals, communities, and organizations to become a driving force for good through the power of volunteerism, service, and engagement.

In addition to connecting individuals to volunteer opportunities like nonprofit boards or disaster response, Spark trains volunteers. If you’re not sure how to be a board member, Spark will train you. Or if you’re a nonprofit that needs help getting volunteers engaged, Spark can assist with that, as well.

“We teach nonprofits how to engage effectively and volunteers how to be a good volunteer,” Judd says. “If a local community is trying to figure out how to accomplish an initiative, such as a coordinated volunteer response to the Marshall Fire last December, they call us. We do a lot of coaching, counseling, and designing work so that what we consider our communities’ biggest asset – our people – can engage safely, which is a huge consideration during disasters and the pandemic.”

CONNECTING WITH A COMMUNITY Judd says it’s important for individuals to connect to the community in a way that makes sense for them. Spark has a menu of options to help people choose a nonprofit or cause based on their passion, their career pathway, or maybe because an organization touched their lives personally. “Whatever

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the triggers are that make you think about connecting with others, they are the powerful parts of who we are and how we build our collective humanity,” Judd says.

“If it feels like a job, however, you’re in the wrong spot. Volunteering should trigger something in you to ask, “How and when can I do this?”

It’s okay to use volunteering to build a network or serve where you might potentially be employed or develop your skills.

table, which is great as you’re planning your career path.”

The type of nonprofit you choose to devote your time to may change over time. “We see younger people partner with certain organizations, but then as family commitments evolve over the years, they take on different opportunities like coaching soccer, being in parent/teacher organizations, or getting involved with faith-based organizations,” Judd says. “That’s what is so great

It’s okay to use volunteering to build a network or serve where you might potentially be employed or develop your skills.

“Nonprofits are a great place for that,” Judd assures.

For accounting professionals who are considering positions on nonprofit boards, they may quickly discover they’re the only one with any financial background. “You’ll be valued immediately,” Judd says. “You’ll be connecting with people from all industries and in all phases of their careers. Now you’re on a common plane with everyone.

You’re no longer considered the junior person. You have the exact same seat at the

about volunteering. You don’t necessarily pick something for the rest of your life. You pick what’s appropriate at this point in your life. We have young people who are just starting out and older folks who are retiring and figuring out how to remain physically and mentally active by becoming involved and connected. The answer to everything is volunteering.”

FINDING HIS WHY Ben Hrouda, CPA, Managing Partner at Flywheel Capital, Denver, has been involved

with nonprofit organizations since the early days of his career. “I was fortunate to receive a great education,” he explains. “Now I feel like it’s my duty to give back to people and organizations. That’s my Why, and why I continue to do it. I find missions and opportunities that are important to me so I can say thanks for the education I’ve been given.”

One of Hrouda’s current passion projects is serving as treasurer for the Colorado Water Trust (CWT). He connected with the organization through the COCPA when he heard CWT was seeking a treasurer. “For me, living here in Colorado, water is the next gold. It’s going to be important to us as a community, so I joined.”

Over the years, Hrouda has given his time to a multitude of organizations, including a nonprofit run by his brother. As Hrouda’s children have grown, he has taken roles in various organizations that his children are interested in as well.

Hrouda says he’s drawn to organizations or causes that aren’t stagnant – those that are making meaningful progress that he can help further. He remains actively involved with his alma mater, the University of Denver. In the broader community, he has volunteered with the National Western Stock Show and other roles with the City of Denver, especially on policy issues.

“You’ve got to start somewhere, so just start and grow from there,” Hrouda encourages. “You get out of it what you put into it. You’re not going to solve the world’s problems overnight, but it’s important just to contribute. Making a difference is part of our DNA as a profession.”

FROM VOLUNTEER TO CAREER Mike Pritchard, CPA, is the CFO at Volunteers of America Colorado. He describes himself as “not very community service minded” when he started his career at Deloitte in the mid-90s. He joined the firm’s annual United Way campaign, and during a tour of Urban Peak, a homeless shelter for teens, he learned about the abuse the teens had suffered at the hands of people they knew. The shelter’s director referred to the teens as throwaways. “That was a pivotal moment for me,” Pritchard says. “I’d had a fortunate, blessed life. Now I knew there were kids in our own communities who needed help.”

The moment had a cascade effect. Pritchard became chair of the United Way campaign, even working for three months as a loaned executive at United Way. “I was a CPA turned fundraiser,” Pritchard says.

Pritchard proved to be so proficient at fundraising that after four years, he made a leap of faith career move to Mile High United Way. His 50 percent pay cut raised some eyebrows. “Everyone said I was crazy,” he laughs. “When I was younger, I had a goal to make a million dollars by the time I was 30.” During his tenure, he ultimately raised a million dollars. “So, I did make a million dollars by the time I was 30; it just wasn’t for me.”

I want to volunteer? What skills do I want to offer? Or not offer?

Spark’s website, sparkthechangecolorado.org, offers a volunteer matching database of more than 300 nonprofits across Colorado searchable by organization name, key words, or location.

“Just because you’re in a finance profession doesn’t mean you always have to be the treasurer, but as an accounting professional, your voice and expertise are so helpful,” Judd says. “Many people are afraid of numbers and don’t even want to ask questions.

We almost always have an auditor as our treasurer, but if not, it’s important to have

“Whether your interest is animals, poverty, or the environment, I encourage everyone not only to volunteer but also to support these organizations financially, as well.”

Mile High United Way was the first in a string of impactful roles Pritchard has held in Denver-area nonprofits, including Habitat for Humanity, Pathways Church, the Rocky Mountain MS Center, Family Tree, Goodwill, and finally in his current role at Volunteers of America. “It’s such a wonderful human service nonprofit,” he says. “I have been following my heart to serve the community.”

Pritchard encourages CPAs to get involved with nonprofits, especially the boards of directors. “CPAs have such great skills to serve on nonprofit boards, and nonprofit boards always need treasurers,” he says.

“That’s a really high value add that a lot of COCPA members can make.” He emphasizes that CPAs don’t always have to be the treasurer. “But be hands on,” he encourages.

“We’re blessed as CPAs to have great careers, so give your time, treasure, and talent.

Whether your interest is animals, poverty, or the environment, I encourage everyone not only to volunteer but also to support these organizations financially, as well.”

someone who can explain concepts, spot red flags, and know what to look for.”

If you’re interested in joining a board but have little to no experience, Spark offers an Introduction to Board Service Training class.

Judd says even those with previous board service experience may find the training helps expand their capacity to govern effectively. “The Board Match Program is a great resource for nonprofits seeking board members,” she says. “It also offers training and tools on effective processes, procedures, and support for nonprofits to find the right board candidates.”

There’s no shortage of places to volunteer, and Judd says Spark is an important resource whether that’s through the website or contacting the Community Engagement Department. “That’s why we’re here. It’s our job to help you.”

FINDING YOUR FIT Judd encourages new volunteers to do some self-reflection before jumping in. Ask yourself: Why do I want to volunteer? Where do

March/April 2022 | www.cocpa.org

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CAMICO – Sponsored Provider of COCPA since 1998 “The COCPA chose CAMICO more than twenty years ago because it offered top-level expertise and support – by CPAs for CPAs. The same is true today. CAMICO consistently delivers outstanding customer service, regardless of market or economic conditions.”

Mary E. Medley, CEO COCPA

Why CAMICO? • For 35 years, CAMICO has been protecting CPAs with insurance solutions tailored to the professional services and concerns faced by CPA firms every day.

• Policyholders can call CAMICO as often as needed and consult with in-house experts on loss prevention, tax, and accounting and auditing issues — all at no additional cost.

• Receive no-cost subpoena, potential claims and reported claims assistance from seasoned in-house CAMICO Claims Specialists.

• Unlimited access to a Members-Only Site with unique tools and resources such as sample engagement letters, articles, newsletters, advisories, eAlerts, FAQs and more.

These are just some of the reasons why COCPA selected CAMICO as the Society’s sponsored provider of Professional Liability Insurance.

Alpa (Keily) Evans Account Executive T: 800.652.1772 Ext. 6720 E: aevans@camico.com W: www.camico.com

Accountants Professional Liability Insurance may be underwritten by CAMICO Mutual Insurance Company or through CAMICO Insurance Services by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. © CAMICO Services, Inc., dba CAMICO Insurance Services. All Rights Reserved.

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PERSONAL WELL-BEING

Burning Bright(ly) vs. Burning Out: Staying Mentally and Physically Healthy in Today’s Work Environment

BY NATALIE ROONEY

The Great Resignation and the pandemic have created historic labor shortages. Everyone is trying to do more with less, in many cases while still working remotely. How can you avoid burnout?

Here are some strategies for you and your team.

B

urnout is real, and it’s taking its toll on America’s workforce. Recent data reveals:

• 52 percent of survey respondents reported experiencing burnout in 2021, up from 43 percent in Indeed’s preCOVID survey, and 67 percent say burnout has worsened during the pandemic.

• 77 percent of respondents to a 2021 Deloitte survey say they’ve experienced burnout at their current job, with more than half noting more than one occurrence.

• 91 percent say the quality of their work has been negatively impacted by having an unmanageable amount of stress or frustration.

• 83 percent say job burnout can negatively affect their personal relationships.

• Nearly 70 percent of professionals feel their employers are not doing enough to prevent or alleviate burnout.

• The average share of adults reporting symptoms of anxiety disorder and/ or depressive disorder, has increased dramatically, from 11 percent in January-June 2019 (before the pandemic) to 41 percent in January 2021 (during the pandemic), according to the Kaiser Family Foundation.

Burnout can have major negative effects on our health and lives, including: • Excessive stress

70%

Nearly of professionals feel their employers are not doing enough to prevent or alleviate burnout.

• Insomnia • Irritability • Anger

• Fatigue CONTINUED ON PAGE 24 March/April 2022 | www.cocpa.org

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PERSONAL WELL-BEING CONTINUED FROM PAGE 23 • Sadness • Alcohol and substance abuse • High blood pressure • Type 2 diabetes • Weakened immune system (Source: Mayo Clinic.)

ACTION STEPS FOR EMPLOYEES Put yourself first. How do employees balance their career goals with their mental health and well-being? One way is by setting boundaries. “It’s natural to think that setting boundaries could be a detriment to your career, but on the contrary, taking care of ourselves is professional,” says Lisa Hackard, CPA, an audit partner with KPMG LLP. “As CPAs, we have such an important role in the capital markets. When we show the synergies of tending to our health and executing our responsibilities, it sets the

She asks those around her to watch for these signs and let her know when they arise so she can refocus on her well-being. stage and is grounded within the code of conduct and our professional standards. We don’t talk about it nearly enough, though.”

There are many things employees can do to prioritize their mental health and well-being. Hackard suggests taking time to identify how stress shows up for you personally. “When my stress shows up, I speak more rapidly, my sleep is disrupted, and I skip meals,” says Hackard. She asks those around her to watch for these signs and let her know when they arise so she can refocus on her well-being. Hackard finds relief from early morning outdoor exercise, meal planning, and making sleep a priority. She also makes a point to connect with family and friends, even if it’s via text.

“Identify how stress shows up for you, get help from others, and use that as feedback to kick in on your health and well-being habits, allowing you to perform at your best and not burn out,” she advises.

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Other suggestions to keep stress at bay and make your physical and mental health a priority: • Check in with your coworkers. “We start every team call with ‘how are you today?’” Hackard says. “It’s an opening to start a conversation, go deeper, and share a little bit more than the standard response of ‘fine’ or ‘good.’” This process of sharing is really role modeling to let others see we all have our challenges and the ways we work through them.”

• Refresh your understanding of your organization’s resources including your employee assistance program (EAP) benefits and policies and procedures.

• Get to know community resources.

Know where to go and practice accessing and using local resources so you’re familiar with them for yourself and can also direct colleagues to these resources if they need help. (See sidebar) It’s more than OK to ask for help. Accounting professionals may feel apprehensive about asking for help, but Hackard reminds us that reaching out is something CPAs already do every day. “If professional standards aren’t clear or we can’t find the resources we need, we ask for help, and we’re good at that,” she says. “We don’t hesitate to ask clients, partners, or colleagues for clarification. We also don’t hesitate to ask for help when it comes to perfecting our golf swing, refreshing our wardrobe, learning a new language, or landscaping our yards. We ask for and benefit from expert help when a subject is less familiar to us.

Asking for help with our mental health is no different.”

When it comes to mental health, however, Hackard says historically we didn’t see as many examples of people reaching out.

“Now, everyone has an opportunity to be that example by using their employer’s resources or turning to their trusted network. Remember, we know how to do this already!”

Hackard also reminds everyone that your crisis is just that – your crisis. Rather than considering if you need help, consider if you could benefit from help. “Maybe you just want to speak with someone. It can be momentary when you need a resource,” she says.

“You can ask for help anytime. ” Hackard adds an important point: For mental health issues that are disabilities under the Americans with Disabilities Act, you should talk to your HR department about accommodations.

RESOURCES: Mental health support and resources: • Johnson Depression Center - coloradodepressioncenter.org • Man Therapy - mantherapy.org • NAMI: - nami.org/getattachment/AboutNAMI/NAMI-News/2020/ NAMI-Updates-on-the-Coronavirus/COVID-19-UpdatedGuide-1.pdf • Center for Workplace Mental Health - workplacementalhealth.org/ getmedia/fd8a9b98-b4914666-8f27-2bf59b00e475/ Working-Remotely-DuringCOVID-19-CWMH-Guide • Suicide Crisis Line: National Suicide Prevention Lifeline - 1-800-273-TALK (8255) - suicidepreventionlifeline.org • Colorado Crisis Services - 1-844-493-TALK (8255) - coloradocrisisservices.org • Safe2Tell - 1-877-542-7233 - safe2tell.org • Crisis Text Line - Text START to 741-741 - crisistextline.org The Center for Health, Work & Environment, Colorado School of Public Health, CU Anschutz Medical Campus • coloradosph.cuanschutz.edu/ research-and-practice/centers-programs/chwe • Health Links™: Putting public health into practice healthlinkscertified.org • Total Worker Health®: cdc.gov/niosh/twh/default.html

ACTION STEPS FOR EMPLOYERS David Shapiro is Program Manager for Health Links™, a program created by the Center for Health, Work & Environment (CHWE) at the Colorado School of Public Health on the CU Anschutz Medical Campus in Aurora.

In his role, Shapiro talks to companies about their commitment to work safety and well-being and how to enhance that commitment. “We know there’s a connection to health and safety, and when employers focus on safety, people are happier and healthier,” he says. “It’s challenging to provide a safe workspace right now with people working from home.”

Do a resource check: What resources are available to employees, and do they continue to be sufficient? You already may have a robust EAP standard, but can you do more?

What additional benefits could help? This might be things like offering backup child or eldercare options, evaluating PTO policies, and offering flexible work. Consider establishing employee or business resource groups as a way for employees to come together and discuss challenges and navigate the complexities of life.

“We’ve seen a lot of companies take a deep dive into understanding their mental health benefits,” Shapiro says. Companies are examining whether employees can quickly reach a licensed counselor and whether it’s a covered expense. “We’ve seen real innovation with benefits in the last two years.”

Evaluating resources is important, but it’s critical to make sure the benefits are being used, Shapiro emphasizes. Leaders should reach out to employees in need, demonstrate concern, and share the EAP contact information. Offering their own experience with mental health stress and use of resources provides another way to destigmatize mental health issues. “Have champions in leadership who can speak to the validity of the resources,” he adds.

Examine your policies and practices: Little things can make a big difference to relieve stress. At KPMG, calendar invitations are either 25 minutes or 50 minutes long to allow for transition time so people have time to get a drink of water, take a bio break, or check email. Fridays are camera free. Wednesday afternoons are reserved for heads down work time. “These have been fantastic changes,” Hackard says. “Find out what works for your organization.”

Address safety: As people are invited back – or are expected to return – to the office, how can you assure them they’re safe?

“They’re coming back stressed,” Shapiro says. “Yes, some are eager, but they’re commuting again. It’s stressful.” He suggests talking about things like air circulation and providing masks instead of asking employees to purchase them. “Do your best

to mitigate what we’re all still trying to mitigate in our personal lives – large crowds of people without masks, in the same area.

Talk about how you’re putting safety first, and be honest about what is really important right now.”

Lead by example: Being an example addresses the behavior side of things, and Hackard says while in theory, it’s the easiest and cheapest thing to do, in reality, changing behavior is challenging. Leaders should talk about the habits the organization has built up for resilience and well-being, and then model that behavior by taking their own PTO, prioritizing their own health and being open about it, and asking for what they need when pressure is building.

“People see stress and hear it in our tone,” Hackard says. “If you need more time to review something an employee submitted, say so. If you need someone to step in and speak for you at a presentation, ask for help, and then be comfortable receiving what you need, as well.”

can survey more extensively: Do you feel supported by your supervisor(s)? Does your team care about your health and well-being? “Make that personal connection with people to focus on the health and well-being of your team members,” he suggests. “Not everyone approaches solutions the same way, which is why just telling someone to eat a certain way and exercise doesn’t work.

Get to know what’s important to them, and then be willing to make changes—that is the most important part. Be strategic about what you ask. Don’t ask if you can’t deliver.”

Gather intentionally: Shapiro points out that a lot of our social connections are made in the workplace. If the expectation is ongoing remote work, how do you continue to care for employees’ mental health and prevent feelings of isolation when you can’t gather around the water cooler or lunch table?

“While some people welcome not having forced socialization, others are missing it,” he says. “Even if you’re fully remote, think about how you can bring people together

“It’s important for leaders to create opportunities for conversation and really listen to what employees are saying.”

Really listen: Listen to your employees, and get to know them on a personal level. This can be done during the annual performance review or one-on-one meetings. “Check in with team members on their performance but also on their health and well-being,” Shapiro says. “Establish health and well-being goals that aren’t necessarily work related.”

Hackard meets with each of her team members for 15 minutes once a quarter.

“There’s no agenda. It’s just a check in on how they’re doing.” Since she began these meetings, she says her team is tighter knit and produces a higher quality work product.

“It’s important for leaders to create opportunities for conversation and really listen to what employees are saying. If employees are being specific, consider what they’re asking.

If they’re not being specific, continue to listen, and then ask if there’s something that would be useful,” Hackard says. “Take that feedback and sort out how to respond.”

Survey: Surveys are a great way to get a quick read on what’s happening or glean more in-depth information, Shapiro says.

Pulse surveys can be as simple as: How are you today? Do you feel safe? Or you

for teambuilding to prevent burnout and boost creativity and innovation. Expecting no physical contact is harmful to a number of employees. The socialization piece is important.”

Help people shine: Continuing to focus on workers’ safety is really important and includes drilling down on mental health benefits, Shapiro says.

“Tending to both our mental and physical health is fundamental to our professional and personal achievement and being the best accountants we can be,” Hackard says.

“As CPAs, we are held in such high regard.

Executing our professional standards and prioritizing people as part of that can have a ripple effect in the communities and for the clients we serve.”

Hackard says she envisions a world where we can talk just as easily about our mental health as our physical health. “We’re good learners, but we need to practice. I like to say that if we build up our vocabulary, courage, and confidence on this topic, we’ll be just as well-positioned to talk about mental health as we are about tax codes and accounting standards.”

March/April 2022 | www.cocpa.org

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DIVERSITY, EQUITY, AND INCLUSION

The Devil’s Dance: A Survivor’s Story

BY ALYSHA HUSSAINATU RICHARDS

On Dec. 22, 2021, Alysha and Ayasha Richards talked of their experiences as part of the COCPA See Me: Stories of Diversity, Equity, and Inclusion series. This is an excerpt from the story Alysha wrote about living in Sierra Leone during the Blood Diamond conflict, before she and her twin sister became the first children to find a pathway to American citizenship through adoption by COCPA member Ken Richards and his wife.

B

lood surrounds me like a red carpet as it soaks the African soil. “Run!” Voices scream at me, but my feet have forgotten how to move. Just seconds ago, my villagers were joyfully dancing and clapping their hands. Joyful cries quickly turned to agony as the rebels, no, those devils, danced until Africa ran red.

Their guns pointed at my people’s hearts to silence their heart beats.

Machetes cut into my people’s flesh to make their blood run dry, and their torches glowed red and hot as our grasses and homes were set on fire.

I took off running. My four-year-old feet ran in desperation. My family survived another day, but we lost our house to the fires.

Others in our village of Makeni lost more. They lost their lives.

I took off running. My four-year-old feet ran in desperation.

With no home, my uncle took in my family. It was crowded, and we were all given chores. Mine was to fetch water, along with my twin sister, Hassanatu, and older sister Yamarie. We carried buckets of water, one in each hand and another balanced on our heads. The hill that led to the water pump was very steep. Many times, we would drop a bucket or two and had to go back to fetch more. There was never enough food to go around, and our stomachs were bloated from poor nutrition.

The civil war in my country started before I was even born. My country was cursed with a massive diamond reserve. It brought us so much pain and hardship. The diamond rebels were devils, claiming riches for themselves while bringing terror and bloodshed to everyone else.

The rebels also took our children to fight against its people. Child soldiers were forced to murder their parents and siblings, to assault their neighbors, and to torch villages they once called home.

Hassanatu and I were at my uncle’s doorway when a small chunky man came with papers for my parents to sign. Mr. Bulla promised to keep us safe.

The next day we woke up early. Mamma said we were going into the city. We walked for miles, each of us taking turns caring for my little brother, Amadu. In the distance we saw Mr. Bulla sitting on a rock.

Mamma picked me up, and Papa picked my sister. They held us close.

I wasn’t certain why, but I didn’t mind. I hugged them back as I felt powerful hands pull me away. They were the hands of Mr. Bulla. We

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fought him, but he grabbed us and took us away. That was the last time we felt our parents’ touch.

Two years later my sister and I were adopted and taken to America, not knowing what had happened to our family let alone my little brother, Amadu.

I would like to say that when I came to America, I became a changed person. But I wasn’t. Change took time. My past still haunted me.

From time to time, I would go into shock or even pass out when my surroundings triggered a memory.

Adapting to the American culture, language, education, and lifestyle was a huge struggle for me. Therapy helped me move forward and come to the reality that this was my life now, and I needed to learn how to trust others.

For several years I was angry at my biological parents. I had to discover the power of forgiveness before I could change myself. Eventually, I was able to forgive my parents for giving me up, and the rebels for the forever scars they left.

Through my struggles my talents have shined.

Four years after coming to America, my adopted parents found out through the American Consulate that my displaced parents had survived the war and had looked for us. Our adoption agency travelled to Sierra Leone for some humanitarian work and met our family. We took photographs, drew pictures, and wrote letters for the adoption agency to give to them. Since then, we have stayed in contact with our biological family. Our hearts were heavy to hear that my brother Amadu had gotten tetanus from cutting his foot on a cooking pot and died, but we knew that he was at peace now.

Years ago, I could never imagine going to school let alone college, but I’ve made it. I have an associate degree in science, and I’m close to completing my bachelor’s degree in elementary education. Advocating for children is a big reason why I teach. I teach to bring inclusion and diversity into the classroom.

We lost connection with our family for five years. My older sister Yamarie reconnected with us on Facebook using the internet access at the Christian Missionary school she attended. God kept bringing us together. My family had gone through so much hardship in those last five years.

The events in my life were not God punishing me but instead his miracle for my life. Ten percent of who we become, comes from what happens to us. The other 90 percent comes from how we handle it.

Through my struggles my talents have shined. My sister and I joined Speech and Debate in high school, and I found my love for words and poetry. We went to the state competition in poetry and two years later to the national competition in duo interpretation. Acting is where my emotions come out, being able to place myself in someone else’s shoes and mind.

My life has been walked on a broken road. My road didn’t get paved until later in life, but my struggles have shaped the person I am. I used to think that Africa was more than I could bear, but I see now that the good Lord doesn’t give you more than you can bear.

Through my pain and adversity I have found my talents. It was learning how to cope that has made my life beautiful. I am a child of Sierra Leone, and I am a Survivor!

All events are virtual and will take place on Wednesdays from noon to 1:15 pm MT.

March 23

IT ’ S N OT H OW YO U G E T T H E R E , I T ’ S WH AT YO U B R IN G

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June 22 Engaging personal experiences with diversity, equity, and inclusion.

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27

HUMAN RESOURCES

Advice from an Autistic: Part Three

BY CAITLYN O’NEIL, CPA

This is the third article in my Advice from an Autistic series to help shed light on issues related to autism and disabilities so that we can all work towards becoming more inclusive. In the first article (NewsAccount, November/December 2021, pp. 22-23), I wrote about the Americans with Disabilities Act (ADA) and receiving accommodations. This article will elaborate on how one would receive accommodations in school and/or in the workplace.

T

he Americans with Disabilities Act of 1990 makes it unlawful to discriminate against a qualified individual with a disability.

To qualify, one needs to have a record of having a substantial impairment that significantly limits or restricts a major life activity, including blindness, deafness, autism, and others. The ADA covers a broad scope, so even cases of depression and other mental illness may be covered in certain instances. An individual can receive “reasonable accommodations” as long as the individual is qualified to perform the essential functions or duties of a job.

ual Educational Plan. Both plans are legal contracts that require the school to provide the accommodations listed on the 504 or IEP. I had a 504 in both middle and high school.

MANY TIMES YOU WILL HAVE TO ADVOCATE FOR YOURSELF WHEN ASKING FOR ACCOMMODATIONS. The following are examples of possible accommodations:

First, you will need to be officially diagnosed by a medical professional. This is the most important step because without an official diagnosis by a medical professional, you could be denied accommodations. Children’s Hospital diagnosed me almost twenty years

• Time and a half on assignments or standardized tests

An individual can receive “reasonable accommodations” as long as the individual is qualified to perform the essential functions or duties of a job.

• Slides provided before a presentation is given

ago. The testing and official report I received are, without going into details, extremely comprehensive. Despite this report, every time I changed schools or requested additional accommodations, I had to provide a new doctor’s note plus previous records of accommodations. My most recent doctor note validated that after twenty-seven years I still meet the diagnosis of autism. For the record, autism isn’t something you “grow out of.” I was born autistic, and I’ll die autistic.

After your diagnosis, you will be eligible to ask for accommodations protected under the ADA. You might think getting a diagnosis would be the hard part, but asking for accommodations is often another battlefield. Sometimes the school/job will have a list of possible accommodations that you can have, and sometimes you must ask for specific accommodations. For example, in the public school setting, a person with a disability can be placed on a 504 Plan or an Individ-

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• Flexible working arrangement • Ability to work remotely • Braille materials • Written set of procedures

In the past, some teachers and employers gave me a hard time about receiving accommodations. In fact, some barriers were so difficult to overcome that I decided not to advocate for the accommodations I needed. In these cases, I could not perform to my best ability.

If you’re in the position to grant accommodations, make it as easy as possible for someone to receive them. It does not matter if the ADA is law if employers do not comply with it. Supplying adequate accommodations not only helps the employee perform at her or his best, but also it enables the employer to avoid lawsuits and negative publicity.

For more information and resources, go to the U.S. Equal Employment Opportunity Commission, eeoc.gov/laws/guidance/ enforcement-guidance-reasonable-accommodation-and-undue-hardship-under-ad.

Caitlyn O’Neil, CPA, MT, is a senior tax associate with CBIZ & Mayer Hoffman McCann P.C., Denver. She shared her story, “Not a Puzzle Piece: Being Autistic in the Work World,” as part of the COCPA See Me: Stories of Diversity, Equity, and Inclusion webcast series. She received a COCPA 2021 Everyday Heroine Award for her community service work. Contact her at coneil@cbiz.com.

MEMBER BENEFITS

A Simple Solution: Secure Communications via Verifyle

BY NATALIE ROONEY

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hen Lauren Long, CPA, launched her new firm in Fort Collins after 36 years as a firm partner and a decade of teaching at Colorado State University, she already had an established client base. But she hadn’t settled on a client portal.

“There are so many, and they’re often difficult for clients to use,” she says. “Clients would call and say they couldn’t get in, their phones didn’t work with the app, or the two-factor authentication didn’t work. It was frustrating for them and for us.”

Mike Lee, CPA, was in a similar situation. After selling his Fort Morgan practice in 2014, he kept a small group of tax clients. With a few CPAs and an administrative assistant on staff, he wanted a secure option to transfer files that would be easy for his clients to understand.

SEEKING SIMPLE SOLUTIONS Long first read about Verifyle on the COCPA website and signed up for the demonstration webinar. “I immediately thought Verifyle looked easy to navigate,” she says. She started testing it out with a few clients. “Without a portal, you have to password protect any document with a Social Security number and make sure the other party has the password. It can be cumbersome.” Clients immediately responded that Verifyle was user friendly. “Clients upload their documents, and I receive an email to retrieve and download them,” Long says. “It’s so easy.”

Once Long and her clients had the document transfer process mastered, she began trying out other Verifyle features such as digital signatures on engagement documents. “I draw a box showing them where to sign, and I send it. The client simply clicks, dates it, and sends it back. Super simple.”

FILLING A CRITICAL CYBERSECURITY NEED A COCPA email about Verifyle caught Lee’s eye, and after some research, he enrolled and took the tutorial. “The timing was impeccable,” he says. “There is a lot of pressure on practitioners to have secure processes. Many services offered through the various tax software platforms seem cumbersome, and it’s all fee based.” In addition, Lee said while he would password protect and encrypt documents on his end, clients returned the documents without the same security, finding it a challenge to print, sign, scan, and then return the documents securely.

Lee says Verifyle is easy to use and has worked seamlessly. “It’s true customer service from my professional organization to help us as members to navigate cybersecurity issues. Verifyle met a critical need that was on my to do list: Provide safe communication to my clients.”

He now is using Verifyle to send engagement letters and e-authorization forms, and to share tax documents back and forth with clients.

So far, Lee’s clients give Verifyle high marks. “They’re pleased. Now, there’s a simple mechanism for that security both ways. It protects them from themselves. We’re using Verifyle to live up to our professional standards.”

IN COCPA WE TRUST Lee says he’s not an IT guy, but so far, even he hasn’t encountered anything he hasn’t been able to figure out with Verifyle. “If Mike Lee can do it, anyone can!” he laughs. “This is a great service from the Society.”

Long says the COCPA’s confidence in Verifyle sealed the deal for her. “I knew its technology team would have vetted Verifyle before endorsing it for us to use,” she says. “I actually tell my clients that I use the secure portal endorsed by the COCPA, and that gives my clients confidence in it, as well.”

For more information on this free COCPA member benefit, contact Derrol Moorhead, COCPA Business and Member Development Director, at derrol@cocpa.org, or register for an upcoming demonstration webinar.

Upgrade your workflow and document security,

instantly.

Verifyle Pro is now included in your COCPA membership (a $108/year value)

Attend a free online demo!

U P CO M I N G DAT E S: Thursday, March 24, 4-5pm MT Wednesday, April 20, 3-4pm MT Wednesday, April 27, 12-1pm MT

REGISTER AT

cocpa.org/verifyle

March/April 2022 | www.cocpa.org

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SPECIALTY CREDENTIALS

Position Yourself at the Forefront of Change with the CITP® Credential

BY PAUL WARRICK CPA, CGMA

A

s businesses continue to navigate the unchartered waters of the COVID-19 pandemic, a cloud of uncertainty still lingers over the horizon. Most would agree that the only thing clear about the foreseeable future is that it won’t resemble the past. If there is one thing we can be certain about, it’s that we’ve never been more reliant on technology. It is evolving at an unprecedented rate, transforming our profession and continuously expanding opportunities for accounting and finance professionals to deliver value to clients and employers.

The AICPA Certified Information Technology Professional (CITP) credential positions you at the forefront of change. The CITP represents the intersection of technology and finance and is granted exclusively to CPAs and recognized equivalents who specialize and demonstrate specific skills, expertise, and experience in areas that include: • Information security governance and cybersecurity risk management • Business continuity management and disaster recovery • Business intelligence, data management, and analytics • IT governance, risks, and controls CITPs understand the impact of these areas on financial reporting, positioning them as trusted advisors for clients and employees alike.

NOW IS THE TIME TO UPSKILL Responding to the COVID-19 crisis remains top of mind for clients and employers across the globe. With specialized knowledge in business continuity and disaster recovery, CITP professionals are well suited to guide businesses through crisis management, recovery of operations, and future preparedness.

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Moreover, businesses now face an evolving cyber threat landscape due to impacts from the COVID-19 pandemic. It’s now more important than ever for businesses to have a robust strategy in place to assess cyber risk, detect threats, and plan for recovery in the event of a breach. Earning the CITP credential illustrates proficiency in assessing, detecting, and managing cyber risk, in a day and age where cyber resilience has never been more critical.

CITP ELIGIBILITY REQUIREMENTS To qualify for the CITP credential, a candidate must: • Be an AICPA member in good standing.

• Hold a valid and unrevoked CPA certificate or license issued by a legally constituted state authority.

• Pass the CITP Exam, which is offered year-round on a continuous basis, and online with remote proctoring (requirement waived for candidates who have passed ISACA’s Certified Information Systems Auditor (CISA®) certification exam).

• Meet the minimum business experience requirement of 1,000 hours in the CITP body of knowledge within the 5-year period preceding the date of the CITP application.

Learn more about the CITP credential, its benefits, and the pathway to becoming a CITP credential holder. Start your journey toward becoming a CITP, and register for the CITP Exam today!

Paul Warrick is a Senior Manager with Advisory Services and Credentialing at the Association of International Certified Professional Accountants, where he supports the Technology Advisory Division.

MANAGEMENT STRATEGIES

How Leaders Can Avoid the Dangers of ‘Yes’ People

BY HANNAH PITSTICK

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eaders who surround themselves with an ocean of nodding acquiescence are liable to run into icebergs. In order to discover issues while they’re still small and encourage team members at all levels to propose creative solutions and challenge ingrained ideas, leaders should navigate their teams towards a culture of candor and away from blind agreement.

“The danger of surrounding yourself with ‘yes’ people is that often those people are telling you what they think you want to hear versus what they actually think,” says Kim Scott, author of Radical Candor: Be a Kick-Ass Boss Without Losing Your Humanity, based in the San Francisco Bay Area. “If you haven’t created a culture of psychological safety on your team, chances are people aren’t going to feel empowered to challenge you when you’re wrong, which can lead to disastrous consequences.”

Joselin Martin, CPA, CGMA, owner of True North CFO, based in Baltimore, has witnessed both the consequences of stifling candor and the benefits of maintaining frank communication in all types of business relationships, whether it’s between owners and financial managers, managers and direct reports, or finance professionals and clients.

Martin was working as a financial manager for a construction company during the years leading up to the 2008 Great Recession, and she could see from her projections that the organization was highly susceptible to any changes in the industry. She believes that her ability to have uncomfortable conversations with the general manager about challenges facing the organization allowed them to make hard decisions that helped avoid the worst of the crisis.

“Because I had the ear of someone who was willing to listen, we were able to recognize the signs early and make a plan,” she says.

Whether you’re working to break down silos between functions, encourage direct reports to speak up, or facilitate the free flow of ideas, here are some ways to avoid the dangers of yes people within your organization.

feedback seriously and implement any common-sense requests immediately.

“Because I had the ear of someone who was willing to listen, we were able to recognize the signs early and make a plan.”

ACTIVELY SEEK AND REWARD FEEDBACK Perhaps the best way to encourage your direct reports to give you feedback is to actively ask for it and receive it in a way that shows they can continue to be honest with you, Scott says.

“Convince your team you actually do want to hear what they really think. Show them that your requests for criticism are genuine and that you sincerely appreciate it when they say what they think.”

Scott recommends leaders ask for criticism regularly and reward candor when received.

It may take a while for direct reports to gather the courage necessary to give difficult feedback, which is why it’s important to reward small wins along the way.

For example, Scott’s request for feedback was consistently met with silence during team meetings, but eventually someone spoke up to complain about the tea in the office. In response, she thanked the person publicly, wrote a note by hand, and approved funds to purchase better tea. Even relatively minor feedback like this can be used to show your entire team what happens when they speak up about workplace issues, she says.

Feedback also can be collected through company-wide surveys, which can be anonymous to eliminate any fear of retribution.

The key to encouraging employees to speak up about issues in surveys is to take the

Kirsten Duke, CPA, CGMA, CFO at DomainTools, based in Seattle, says an organization-wide survey helped company leadership recognize that employees were fearful of coming back to the office while COVID-19 continued to pose a risk and a vaccine was not available.

“We listened to this feedback and made the decision that employees would be able to continue to work remotely through the end of the year, at which time we would assess the situation for next steps,” she says.

GET AN OUTSIDE PERSPECTIVE Employees are sometimes afraid to confront their boss directly about an issue, but they might be more willing to express their concerns to a third party, Duke suggests.

Recently, DomainTools conducted an organizational assessment. They brought in an external consultant to ask each of their employees what was contributing to their doing their best work and what was getting in the way of their best work. The consultant then took those themes and reported back to the company leaders, who created task forces made up of employees to help determine how they could best address the identified issues as an organization.

“Having the leaders determine how to best address these issues wouldn’t work,” Duke says. “These are themes that were brought up across the organization, and the employees across the organization are the ones we need input from on how to best solve them.”

CONDUCT SKIP-LEVEL MEETINGS If you’re a manager of managers, and you’re concerned that the people who work for your direct reports are having trouble voicing concerns, Scott recommends conducting skip-level meetings once a year to help overcome the challenge of hierarchy.

During a skip-level meeting, you meet with the people who work for each of your direct reports to give them an opportunity to give CONTINUED ON PAGE 32 March/April 2022 | www.cocpa.org

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MANAGEMENT STRATEGIES CONTINUED FROM PAGE 31 feedback about their boss. The feedback is then compiled and shared collectively with the manager so he or she knows what was said but not who said what. This ensures the team is comfortable criticizing their boss without fear of retribution.

“Through this process we get to hear what concerns there are across the organization,” Scott says. “Feedback typically comes back loud and clear through these questions. We can take that feedback and listen to those voices to make changes for the better of the organization.”

This process not only helps uncover voices from all levels of an organization, but also it can help make your direct reports better managers. During these meetings, you can collect candid feedback on a wide range of issues that can then be used to improve the organization.

EXPERIMENT WITH ROLE-PLAYING One way to encourage team members to consider a variety of perspectives and avoid settling on the ideas proposed by leaders is to experiment with role-playing, according to Michael Roberto, DBA, Trustee Professor of Management at Bryant University in Smithfield, Rhode Island, and author of Why Great Leaders Don’t Take Yes for an Answer.

Roberto has done a number of decision-making case studies on businesses across industries and has witnessed a few highly effective role-playing experiments that encouraged team members to view issues from fresh perspectives.

When one company was trying to decide on a strategic alliance, for example, the CFO had the team role-play the competition, prompting them to consider what the reaction might be if they were to form each alliance and what consequences they might see down the road after doing so.

In another exercise, the CFO and other members of the finance team took on the perspectives of marketing, sales, and operations, while marketing, sales, and operations team members looked at issues from a finance perspective.

“It got this robust dialogue going, and it opened people’s eyes,” Roberto recalls.

“Making people stand in each other’s shoes turned out to be a great way of helping the team understand each other’s perspectives.”

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the likelihood of echo chambers and increase effective business partnering.

GET CREATIVE WITH MEETINGS Holding meetings outside the confines of a conference room can help eliminate oppressive formalities and encourage a free flow of communication. Martin is a big fan of walking meetings, and she has often had her teams walk together from the office to a nearby coffee shop as they discussed both personal and work-related topics.

“It was a little bit social, little bit catching up, but if there were anything that was on anybody’s mind, it was a really good time to bring it up,” she said. “The conversation was much more open and didn’t feel like a conference-room meeting — it’s about creating that environment where communication is flowing back and forth among everybody.”

TAKE THE STIGMA OUT OF MISTAKES Everyone makes mistakes, but when employees or leaders try to hide or minimize their blunders, it’s impossible to address and learn from them in a timely manner.

“Love good news, don’t mind bad news, but hate surprises.”

“In construction there’s a saying that we love good news, don’t mind bad news, but hate surprises,” Martin says. “Don’t surprise me — 99.9% of the time it can be fixed a lot quicker if we just do it now.”

is an essential component because the team will feel much more willing to share their blunders once the leader has demonstrated vulnerability.

“Starting this process and getting people comfortable with sharing their mistakes is extremely valuable for creating a culture of feedback and learning,” Scott says.

STEP OUT OF THE ROOM It can sometimes make a huge difference when the leader steps out of the room and allows the rest of the team to talk amongst themselves, according to Roberto.

If your team seems to have hit a wall, he recommends summarizing the issue, telling them you want some options and an evaluation, and then stepping out of the room for a bit.

“Once you’re in the room, the whole dynamic changes,” he explained. “Stepping out of the room sometimes can be a great way to give people a chance to get their thoughts in order.”

PERFECT YOUR POKER FACE Team members are only going to freely express their opinions if they feel psychologically safe enough to do so, and a key part of achieving that psychological safety is reacting appropriately when people do come forward with a problem or say “no.”

Roberto stresses that leaders should never tell their employees, “Don’t come to me with problems; come to me with solutions.”

“This is horrendous leadership because what you’re basically telling people is hide the problem unless you have it all solved,” he says. “That’s terrible because you want people to tell you what’s going on.”

To destigmatize mistakes and encourage everyone to speak up about issues, Scott sometimes plays a game she calls “WhoopsA-Daisy” with her team.

Instead, leaders must do their best to react calmly to bad news and work with their teams to develop collaborative solutions.

When you react, consider not only your words but also your tone and body language.

To play the game, leaders bring a stuffed daisy flower to their next team meeting and share a mistake they’ve made in the past week. Then she opens the floor to the entire team and lets them know that anyone who tells a story gets automatic forgiveness.

“Take a breath before you answer,” Martin suggests. “And then find out why the mistake happened, because it could be that a company process is the problem. Either way, we definitely don’t want people to hide issues.”

In Scott’s version of the game, the person who tells the best story, as measured by the level of applause, wins “Whoops” for a week and $20. She explains that the $20 prize is primarily to give team members a reason to play along with her game. And the part where leaders share a mistake of their own

Hannah Pitstick is a freelance writer based in the U.S. To comment on this article or to suggest an idea for another article, contact Drew Adamek, an FM magazine senior editor, at Andrew.Adamek@aicpa-cima.com.

MOVERS & SHAKERS BRIAN MCALLISTER, CPA, PHD, AND KSENIA POPKE, CPA, JD Brian McAllister, CPA, PhD, and Ksenia Popke, CPA, JD, were named to the Financial Accounting Standards Board’s Not-ForProfit Advisory Committee. McCallister is a professor of accounting with the University of Colorado – Colorado Springs. Popke is a partner with Eide Bailly, LLP, Denver.

SCOTT FOWLE, CPA Scott Fowle, CPA, joined CFO Selections as Practice Manager of its new Denver office.

TAX STUDY GROUPS Boulder/Longmont Tax Study Group WEDNESDAYS, VIRTUAL ONLY NOON-1:00 P.M., MT

Wednesday, Mar. 16 Additional 2022 dates: May 18, Jun. 15, Jul. 20, Aug. 17, Sep. 21, Oct. 19, Nov. 16, Dec. 14. For more information, contact Lynn M. Mitton, CPA, MT, MPA, 303-499-7445, or email lmitton@tandemcpas.com.

Denver Tax Study Group TUESDAYS, VIRTUAL ONLY LAURIE CORRADINO, CPA, PHD Laurie Corradino, CPA, PhD, won first prize in the long case category of the AICPA’s 2021 CPA Evolution Resource Competition (CERC) Awards, for her case, Fixed Assets – A Logical and Visual Analysis. Corradino is an assistant professor of accounting at Colorado State University – Pueblo.

The AICPA competition seeks to promote the development of teaching resources for the new topics and learning objectives in the CPA Evolution Model Curriculum.

CBIZ MHM CBIZ MHM, Denver, announced the following promotions: Mark Barr, CPA, to Tax Director, Mergers and Acquisitions

NOON-2:00 P.M., MT

Tuesday, Mar. 29 Additional 2022 dates: Apr. 26, May 24, Jun. 28, Jul. 26, Aug. 30, Sep. 27, Oct. 25, Dec. 6. Register at www.cocpa.org.

IN MEMORIAM

Maggie Carson, CPA, to Audit Director Heath Kendall, CPA, to Senior Audit Manager Marie O’Neill, CPA, to Senior Tax Manager Christopher Steedley, CPA, to Tax Director, Compliance

We extend our sympathy to the families and friends of the following former member and former member’s spouse: William Kenneth (Ken) Freienmuth Golden, Colo.

Pearl Taylor Spouse of COCPA Past President Charles A. (Chuck) Taylor Eagle, Colo.

CLASSIFIEDS DALBY, WENDLAND AND CO., PC. Dalby, Wendland and Co., PC., Grand Junction, announced the following promotions: Matt J. Bieberly, CPA, to Audit Manager Stephanie M. Fundazuri to Senior Auditor Erin E. Leblanc to Senior Auditor Kevin P. Rosson to Senior Auditor McKenna P. Sjoden to Tax Senior

PRACTICES FOR SALE, PURCHASE, OR MERGER Selling your practice in 2022 or looking to purchase a practice? We want to talk to you!

2021 was a great year for sales, so if 2022 is your year to sell, please call us today to start the process! Listing early can bring you great results! Selling your firm is complex! ACCOUNTING BIZ BROKERS can help! We have been selling CPA firms for over 17 years, and we know how to simplify the process. We have a large database of active buyers. We work with industry specific lenders ready to assist buyers with financing. Current Listings: Colorado Springs Gross $610k - Sale Pending; Garfield County CPA Firm Gross $340k; Gunnison CPA Firm Gross $80k. Kathy Brents, CPA, CBI, at 866-260-2793 or Kathy@AccountingBizBrokers.com, or visit our website at www.AccountingBizBrokers.com.

March/April 2022 | www.cocpa.org

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