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Building a Culture of Diversity, Equity, Inclusion and Belonging

With the beginning of a new school year comes a different kind of busy season for the university recruiters at CPAmerica member firms across the country. For this month’s issue, we spoke with LaQuisha Persak, corporate recruiter and university relations specialist with Thomas Howell Ferguson (THF), headquartered in Tallahassee, Fla.

students one-on-one who are interested in learning more about accounting.

September 2024 IN THIS ISSUE:

► Building a Culture of Diversity, Equity, Inclusion and Belonging

► Preferred Provider Spotlight - alliantgroup

► Upcoming Events

► Member News

► CPAmerica Insights –Art Winstead, CPA

THF has more than 150 employees at four office locations and has consistently been featured in best firm lists from INSIDE Public Accounting, Accounting Today, and more.

Persak has been with the firm for three years and in that time has helped shape their successful recruitment and mentorship programs, including their Student Leadership Program (SLP). It is important for their firm to ensure diversity, equity and inclusion (DEI), and also belonging, are part of their core values.

“It starts with our core values and mission, and respect for what everyone brings to the table,” said Persak. “You can implement initiatives and bullet points and all that, but the core of it all is really respecting the unique gifts, talents and skills that everyone brings to the table, and how you can put those folks in the right places. Everyone is an important piece of the overall puzzle.”

In her experience working directly with universities and students, Persak shared that she makes herself available to speak with any and all students. She attends various student organization events that she’s invited to participate in and will even speak with

“I’m really big into sharing the experience in our marketing materials and social media. So other students are seeing students who look like them, who have the same degree as them, and are trying to do what they do. We are showing students that there are folks who look like you who are part of what we’re doing,” said Persak.

Once relationships have been established with the universities, faculty or professors will also reach out directly with opportunities to present to students, to serve on panels and for resume reviews. So, Persak never knows who will end up with her contact information.

“When recruiting, I’ll talk to anyone,” said Persak. “I spoke with a criminology student just last week who was interested in switching her major to accounting. Sometimes you have to think outside the box for recruiting and other times the students contact me directly.”

As far as how their DEI efforts have positively impacted their firm, Persak shared, “one of THF’s core values is a ‘Commitment to Our Team,’ which is a principle we actively promote to a diverse candidate pool through our comprehensive social media strategy. We utilize our social media platforms to highlight our inclusive culture, share stories of diverse employee experiences, and showcase our commitment to equity and inclusion.”

“By doing so, we have attracted candidates from all backgrounds who resonate with our values and are excited to join a team that celebrates diversity and fosters a supportive, inclusive work environment. This positively impacts employee retention because our team members recognize that their unique

gifts, talents, skills, and abilities are not just welcomed but are essential to our collective success. They see themselves as valued contributors to a larger vision, where each individual’s strengths are celebrated and leveraged, creating a sense of belonging and purpose that drives both personal and organizational growth,” continued Persak.

In order to measure the success of their efforts, THF conducts surveys to gauge both their student programs and overall employee satisfaction and engagement levels. The feedback collected from their young professionals (interns and employees) provides valuable insights into how DEI efforts are perceived and experienced.

These surveys also help them identify areas for improvement so they can continue to provide programs and professional development opportunities to meet the needs of their employees. Ultimately, all of these efforts contribute directly to fostering a profound sense of “belonging” among all their team members—an invaluable, yet often overlooked, benefit of implementing effective DEI initiatives.

To learn more about Thomas Howell Ferguson’s recruiting efforts, please contact LaQuisha Persak at lpersak@thf-cpa.com.

Interview with LaQuisha Persak, Thomas Howell Ferguson

LaQuisha Persak

THF Student Leadership Program students with LaQuisha Persak and Shareholder Julian Dozier

Preferred Provider Spotlight alliantgroup

alliantgroup is the leading national tax specialty firm focused on delivering government-sponsored incentives to small and middle-market companies. alliantgroup is not a certified

alliantgroup has pledged to work with CPAmerica members as a resource for its member firms. They will do this through:

• Providing comprehensive CPE training and education to the firm’s professionals to identify opportunities for clients

For more information, visit www.alliantgroup.com or email LeeAnn.Nagel@alliantgroup.com

Thank you to our annual partner!

LeaseCrunch, the easiest-to-use lease accounting software on the market, streamlines compliance with ASC 842, GASB 87, GASB 96, and IFRS 16. Purpose-built for CPA firms, it drastically reduces the time needed to transition, account for, and maintain leases.

The intuitive interface, coupled with in-app wizards and technical guidance makes it easy to enter a lease and generate audit-ready reports in minutes.

The dual access functionality provides seamless collaboration between CPA firms and clients, eliminating version control and communication issues. Created and backed by experienced professionals, including CPAs, former Big Four auditors, and a former member of the FASB staff, LeaseCrunch helps more than 625 CPA firms simplify the complexities of lease accounting for their clients.

For more information, please contact emily.lewis@leasecrunch.com or visit www.leasecrunch.com.

Scan this QR code for complete event information, a full list of events and to complete your registration.

offices with latest merger

Honkamp, p.C. is adding a highly respected CPA firm with two offices in the thriving Cedar Rapids-Iowa City corridor. The Brems Group, LLP, a firm with about 20 employees in Cedar Rapids and Coralville, Iowa, will merge into Honkamp effective Thursday, August 1. After the merger, that experienced and talented staff, including firm leaders Jim Brems, Brian Coller and John Warren, will continue to serve their current clients from those two offices. Honkamp long has had a strong presence in the Corridor, with their Hiawatha, Iowa, office operating since the late 1990s. The new locations in Cedar Rapids and Coralville will increase their ability to provide top-notch CPA and business advisory services to even more clients. “We couldn’t be more excited to continue our growth and to expand our presence in the Cedar Rapids-Iowa City area,” said Honkamp President and CEO Katie Thomas. “The Brems Group and its leaders have a long track record of excellence in helping clients – the same standard that guides Honkamp. This merger will let us provide even more clients with world-class service and innovative solutions.” Honkamp is headquartered in Dubuque and currently has nine other offices in Iowa, Missouri and Wisconsin.

Brickley DeLong welcomes back tax manager

BriCkley Delong, a full-service public accounting and business consulting firm in West Michigan is pleased to announce that Vince Pelino, CPA, has rejoined the firm as tax manager. Pelino began his career at a public accounting firm in Troy, Michigan, following his graduation from Central Michigan University. He later moved to the West Michigan area and joined Brickley DeLong as a staff accountant in August of 2017. Pelino’s duties with the firm include working with a varied base of for-profit clients such as construction contractors, attorneys, financial professionals, realtors, auto dealerships, and restaurants. He is also a part of the Tax Committee.

Taylor Bahn has been hired as A&A associate. O’Connell first joined the firm as an A&A intern and has been recently promoted to associate in the firm’s A&A Department. Arona joins MBK with five years of experience in administrative and project management. Known for her exceptional organizational skills and willingness to assist, Arona thrives on guiding projects from vision to fruition. In her new role, she will oversee marketing activities related to business development, niche development, thought leadership, and social media. Additionally, Arona will serve as the firm’s primary contact for recruitment. Bahn was promoted to associate after initially joining the firm as an intern. He believes that an exceptional customer experience is built on respect, politeness, and attentiveness.

Thompson Greenspon Announces 2024 staff promotions

tHompson greenspon, a full-service CPA firm in the Washington, D.C. Metro area, is pleased to announce the continued growth of their firm with the following staff promotions. David B. Nazari, CPA, has been promoted to audit manager. Iryna R. Passerini, CPA, has been promoted to audit manager. Gysel M. Bolden has been promoted to senior accountant. Andrea C. Johnson has been promoted to tax senior. Thompson Greenspon is delighted to have so many of their people moving ahead in their careers.

Albin, Randall & Bennett announces recent promotions

alBin, ranDall & Bennett (ARB) is pleased to announce several recent promotions. Matthew S. Marcoullier, CPA, was promoted to director. Marcoullier joined ARB in 2013 and focuses on financial accounting and consulting for auto dealerships and commercial businesses.

Meyers Brothers Kalicka, P.C. announces new hires

meyers BrotHers kaliCka, P.C. (MBK) is proud to announce the following new hires. Catherine O’Connell has been hired as A&A associate, Katrina Arona has been hired as marketing and recruiting associate;

Amy M. Gardella, CPA, was promoted to senior manager. Garedella joined ARB in 2018 and provides audit and attest services to a wide array of businesses, including automotive dealerships, construction companies, commercial entities, and employee benefit plans. Nate Marcet, CPA, was promoted to senior tax manager. Marcet joined in 2023 and works with clients in the professional services, real estate, real estate development, and construction industries. Benjamin R. Staples, CPA, was promoted to tax manager. Staples joined ARB in 2023 and focuses on providing tax compliance and consulting services to pass-through entities and clients in the automotive dealership

industry. Tori Vergara, CPA, was promoted to tax manager. Vergara joined ARB in 2021 and provides tax and consulting services to automotive dealerships, individuals, and private foundations. Other recent promotions at ARB include: Leanne Hett is promoted to supervising senior; Rebecca Phelps is promoted to supervising tax senior; Tiffany Wentworth is promoted to supervising tax senior; Chris Chasse is promoted to senior; Rob Gould-Wetmore is promoted to senior; Sahaley Dupree is promoted to tax senior; Giuliana Intriago is promoted to tax senior; Chelsea Dias is promoted to associate II; and Jake Natalizia is promoted to associate II. “These are all well-deserved promotions. Everyone listed here has contributed significantly to our firm’s success and the collective commitment and professionalism they each bring to their roles are the foundation of our achievements. Their efforts are deeply appreciated,” said ARB Managing Principal Cheri Walker.

Wallace Plese + Dreher announces

senior audit manager promotion

WallaCe plese + DreHer (WP+D) promoted Jennifer C. Lano, CPA, to senior audit manager. Lano joined the firm in 2019 and has over 20 years of combined industry and public accounting experience. She provides accounting, review, and audit services to private companies throughout Arizona. She manages employee benefit plan audits and has an Advanced Defined Contribution Plans Audit Certificate from the AICPA.

LMC announces partnership with Goldglit & Company, LLP

lmC, the New York City professional services partner of Ascend, today announced a partnership with Goldglit & Company, a leading professional services firm for the art market based in New York City. The LMC-Goldglit & Company partnership will provide enhanced value to clients of both firms by broadening the range of services and solutions available to art galleries and artists, addressing their complex needs more comprehensively and effectively. “The partnership between LMC and Goldglit & Company is another demonstration of our commitment to excellence and delivering exceptional value to our clients,” said Lee M. Cohen, CEO of LMC, a member of Accounting Today’s 2023 MP Elite and Forbes’ 2024 Top 200 CPAs.

Vince Pelino

Matthew Marcoullier

Jennifer Lano

Yep! It is our 150 hour AGAIN!

Art Winstead, CPA Director of A&A

Some of you will identify, “Art is repeating himself.” And yes, I am. The reason for the repetition is the immediate timeliness of changes that are currently being discussed by the Uniform Accountancy Act (UAA) Committee. Full Disclosure – I am a current member of the UAA Committee. And the topic is changing a bit as I write this.

The current discussion of possible changes to the UAA concerns an “alternative pathway(s)” to CPA licensure regarding the current 150 hour and experience requirements. With emphasis, the current discussion at this time is NOT to do away with the current 150-hour requirement and one year experience for licensure. It is a discussion to offer an alternative pathway in addition to the current requirements to licensure.

My emphasis here is to alert CPAmerica members to the consideration of the potential change and commenting positively or negatively to the exposure draft of any change to the UAA Licensure requirement.

It is important to keep in mind that individual states establish their own requirements for licensure. The UAA and its model rules are not binding to any state. A few states are considered “UAA” states, i.e., they apply the UAA and the model rules as it changes. Without question, most states get to a point of incorporating UAA language in their rules and laws. And that’s where substantial equivalency comes into play.

Substantial equivalency is the concept that allows licensed CPAs to practice across jurisdictions more readily. Under the UAA, a CPA with a license in good standing from a jurisdiction with CPA licensing requirements (that are essentially equivalent to those outlined in the UAA) may be granted a privilege to practice in another jurisdiction that is not the CPA’s principal place of business. Currently, all 50 states are “substantially equivalent.”

Substantial equivalency is the concept that provides for a CPA’s mobility from state-to-state. If substantial equivalency is lost, mobility is lost, and we could return to the days of having to obtain and maintain multiple individual state licenses. Ugh, those days were painful.

As licensed CPAs, either individually or within firms, I believe, as a profession, we like having specific sets of rules. Rules, laws, regulations, and lists of requirements, with a modest amount of professional judgment, is a comfortable place to be as a profession. The compliance requirements we abide by for our delivery of services to clients are codified and with research, can reach a reasonable

conclusion. Without question, these rules can present challenges and sometimes complexities in which we must reach out to others for assistance.

When comparing the delivery of service rules to the licensure rules, the latter are far less complex and much easier to access and follow. To add a touch of complexity to our licensure rules, imagine if all 50 states had specific rules that varied from state-to-state.

These requirements are intended to protect the public by screening in qualified licensees and screening out potential unqualified licensees. The intent of these requirements is to improve the quality of services clients receive by ensuring professionals have the necessary skills and training to deliver those services through prerequisite requirements. These requirements also serve as a protection for those in a licensed occupation. These protections can increase costs for the public without increasing quality. That is a quandary for policymakers, who must consider a conflict which makes occupational licensing a trade-off between increasing quality and increasing client costs.

The history of the 150-hour education requirement goes back to the State of Florida. In 1983, Florida established the first 150-hour education requirement. As stated, before and after decades of transition, all 50 states mandate, by law, a 150-hour education requirement.

The content requirement for the necessary hours can vary from state-to-state. In general, colleges and universities offer bachelor’s and master’s degrees in accounting. To obtain 150 semester hours of education, it’s not necessary for students to get a master’s degree. Students can actually choose any of the following:

1. Combine an undergraduate accounting degree with a master’s degree.

2. Combine an undergraduate degree in another discipline with a master’s in accounting, or an MBA with a concentration in accounting.

3. Enroll in an integrated five-year professional accounting school or program leading to a master’s degree in accounting.

In most cases, the additional academic work needed to acquire the technical competence and develop the skills required by today’s CPA is best obtained at the graduate level. These programs are an excellent way to develop more skills such as communication, presentation, and interpersonal relations, and to integrate them with the technical knowledge acquired. With changes, an increase in the cost of becoming licensed could be significant and should be considered. The ultimate decision for the education and experience requirements must center on the protection of the public. However, there are states contemplating the introduction of legislation to reduce the

requirement back to 120 hours with additional experience required, i.e., two years of experience instead of one.

That is where we are today, contemplating an alternative pathway that may only require 120 hours of education and two years of experience. That is an abbreviated version of the discussion taking place within the UAA Committee today.

All of this is leads up to a discussion of the pipeline. There are now some states, firms, individuals and others wanting to at least discuss current requirements and the possibility of it being a barrier to entry into the profession. Parts of that discussion maintain that the need for or lack of an adequate pipeline can harm the public. That is parallel to saying, “there are not enough working licensed CPAs, and this reduces services offered to those within the market.”

The AIPCA, NASBA, State Boards, Associations, Societies, firms and for that matter regulators, are currently consistent on their belief the 150-hour education requirement does serve both the profession and the public well. And I believe throughout our education institutions, the current hour requirement is widely supported. As a profession, we did ask our colleges, community colleges and universities to develop accounting programs at both the undergraduate and graduate levels to achieve a quality of education to support the 150-hour requirement.

This discussion will have a short run. Or perhaps there is a need to evaluate the 150hour education requirement. Should the 150hour requirement be evaluated as to our current and real shortage within the pipeline?