CPA Voice - November/December 2023

5 trends fueling the future of process

Essential IT documentation for your company

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CONTENTS feature

VOLUME 15 | ISSUE 6 EDITOR Jessica Salerno-Shumaker – jsalerno@ohiocpa.com GRAPHIC DESIGN Kyle Anderson – kanderson@ohiocpa.com EDITORIAL OFFICES CPA Voice 4249 Easton Way, Suite 150 Columbus, OH 43219 Tel: 614.764.2727 Email: CPAVoice@ohiocpa.com Website: www.ohiocpa.com

22 Using ChatGPT as a tax assistance tool: A practical guide Putting AI tools into practice is something all accountants should embrace.

in depth 2 CEO letter 3 Self-assessment exam Free for members!

4 Changes coming to Ohio's Commercial Activity Tax

Businesses with taxable gross receipts of $6 million or less will no longer be subject to the CAT.

6 How to become a better delegator

Ineffective delegation is a leadership limiter.

8 Bridging the generational gap with business development

There are five generations in the workplace for the first time in history.

10 Attest fees and independence ecent professional standard-setting initiatives have focused on the R delicate balance between attest fees and independence.

14 5 trends fueling the future of process ow can you keep up the momentum and generate support from H your team?

18 Essential IT documentation for your company

Recommended IT-related policies for your firm.

26 Foundation Annual Report

Impact in action.

34 Members in motion

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CPA Voice is the official magazine of The Ohio Society of Certified Public Accountants. CPA Voice’s purpose is to serve as the primary news and information vehicle for more than 19,000 Ohio CPA members and related professionals. Articles are reviewed for technical accuracy. However, the materials and information contained within CPA Voice are offered as information only and not as practice, financial, accounting, legal or other professional advice.

While we strive to present accurate and reliable information, The Ohio Society of CPAs makes no warranties regarding the accuracy of the information provided herein. Readers are strongly encouraged to conduct appropriate research to determine the accuracy of the information provided and to consult with an appropriate, competent professional adviser before acting on the information contained in this publication. The statements of fact, thoughts, advice and opinions expressed in CPA Voice are those of the authors alone and do not represent or imply the positions, opinions, nor endorsement of The Ohio Society of CPAs or of its publisher, editors, Board of Directors, or members. It is our policy not to knowingly accept advertising that discriminates on the basis of race, religion, gender, age or origin. The Ohio Society of CPAs reserves the right to reject paid advertising in its sole discretion. We do not necessarily endorse the resources, services or products unrelated to The Ohio Society of CPAs that may appear or be referenced within CPA Voice, and make no representation or warranties about those products or services or the accuracy and claims regarding those products and services.

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NOVEMBER | DECEMBER 2023 | 1

A WORD from our CEO

The power of engagement As we approach the last weeks of 2023, I want to extend my appreciation for the incredible effort you've made for the accounting profession. Keeping up with the holiday season while meeting deadlines can be challenging at this time of year, and I'm grateful for your hard work.

As I reflect on 2023, I want to emphasize how much stronger we are when we collaborate. Engaging with one another is the glue that binds us together and propels us toward success.

Engaged colleagues and professionals are not just working side by side; they are working hand in hand, motivating and inspiring one another.

Engagement doesn’t mean we’ll get along and agree with each other every step of the way. But that’s okay. Because instead, we will work through our differences to come up with more creative and innovative solutions than we had working in silos.

Working together is what we’re doing to address the accounting talent shortage. In the fall, we convened influential accounting leaders from around the state to begin building an engaged coalition. We are at a pivotal moment in the accounting profession, and education, training and quality of work are needed now in different ways than they ever were before. But we can’t solve this alone, which is why we’re collaborating with leaders from business, academia, non-profit and government.

Our chief learning officer, Tiffany Crosby, CPA, introduced a five-point plan focused on actionable steps to address the shortage: 1.

2.

3.

4.

5.

2 | CPA Voice

Form a coalition.

Tell accounting’s story.

Review and revise curriculum.

Enhance the work experience.

Establish multiple pathways.

I’m looking forward to sharing more with you on these efforts soon. Continue to read and keep an eye on all OSCPA publications to learn more about how we’re addressing the accounting talent shortage and advancing the state of business.

Thank you for being a part of this incredible profession, and let's continue to engage and support one another in the journey ahead.

Best, SCOTT D. WILEY President and CEO

swiley@ohiocpa.com | 614.321.2218 (office) | 614.546.9430 (cell) Twitter: @ScottDWiley | LinkedIn: www.linkedin.com/in/scottwileycae

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NOVEMBER | DECEMBER 2023 | 3

ADVOCACY in focus

Changes coming to Ohio's Commercial Activity Tax OSCPA staff report

4 | CPA Voice

As a result of the recent passage of Am. Sub. H.B. 33 of the 135th Ohio General Assembly, beginning in 2024, businesses with taxable gross receipts of $3 million or less and, for tax periods beginning in 2025 and thereafter, businesses with taxable gross receipts of $6 million or less will no longer be subject to the CAT.

• Taxpayers with taxable gross receipts of $3 million or less per calendar year will no longer be subject to the CAT • The 2023 annual return due May 10, 2024, is the final return required for annual filers • Annual taxpayers will need to cancel their CAT accounts when filing their final 2023 returns. Taxpayers should use an effective date of Dec. 31, 2023

H.B. 33 eliminated the annual minimum tax beginning in 2024. The bill also increased the annual exclusion amount to $3 million in 2024 and to $6 million in 2025 and thereafter.

Taxpayers will deduct the exclusion amount from their taxable gross receipts for the calendar year, and any taxable gross receipts in excess of the exclusion amount are subject to the 0.26% tax rate.

• Quarterly taxpayers that anticipate $3 million or less in taxable gross receipts in 2024 should file their final returns, due Feb. 12, 2024, and cancel their CAT accounts with an effective date of Dec. 31, 2023 • Taxable gross receipts exceeding $3 million will be taxed at 0.26%

For a taxpayer that will not be subject to the CAT in 2024, its CAT account may be cancelled now or with the return in 2024. The 2023 CAT annual return (due in May 2024) and the 2023 fourth quarter return (due in February 2024) will both have a checkbox on the return that allows a taxpayer to easily cancel the account back to 12/31/2023 by checking the box. While taxpayers can cancel their accounts now, they can also cancel their accounts when they file their final returns next year.

CAT changes effective Jan. 1, 2025: • The annual exclusion amount is increased to $6 million • Taxpayers with taxable gross receipts of $6 million or less per calendar year will no longer be subject to the CAT • Quarterly taxpayers that anticipate $6 million or less in taxable gross receipts in 2025 should file their final returns, due Feb. 10, 2025, and cancel their CAT accounts with an effective date of Dec. 31, 2024

CAT changes effective Jan. 1, 2024: • The annual minimum tax is eliminated, for tax periods 2024 and thereafter

• Taxable gross receipts exceeding $6 million will be taxed at 0.26%

• The annual exclusion amount is increased to $3 million

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NOVEMBER | DECEMBER 2023 | 5

CAREER center How to become a better delegator

By Jon Lokhorst, CPA, PCCExecutive Leadership Coach, Lokhorst Consulting

Ineffective delegation is a leadership limiter. Leaders who don’t effectively delegate end up performing tasks that would be better handled by other team members, taking valuable time from crucial leadership functions like strategic thinking, critical problem solving, and staff development.

Leaders who don’t delegate also stunt their team members’ growth, keeping them from developing essential skills.

To elevate your delegation skills, you must eliminate the barriers getting in your way. Only then can you develop a clear plan to help you become a more consistent delegator.

Elimate these barriers Whether you say them out loud or silently to yourself, these common statements are barriers that prevent you from elevating your delegation skills. " I can do it better myself” or “I can do it faster myself.”

Break the cycle by recognizing the value of having team members gain the experience needed to become as good and fast as you in completing those tasks. And, even if your team members only get to 80% of your speed and expertise, it still frees you to focus on activities more suitable for your leadership role. " I don’t have time to teach them how to do it.” This denies the return on investment of your upfront time to teach one of your team members skills they’ll inevitably need and that your team can benefit from. For example, in one coaching session, a client performed a ROI calculation on the time required to teach and coach one of his team members to take over a routine weekly report.

He learned that within six to eight weeks, he would recoup his upfront investment of time, freeing up nearly an entire afternoon every week.

Develop a clear plan Once you’re ready to break through these barriers, you can start developing a plan for more effective delegation.

I recommend following these seven steps: 6 | CPA Voice

Plan ahead. Watch your calendar for upcoming projects that’ll work well for potential delegation opportunities.

This will allow enough time for the delegation process to take shape. Encourage your team to do the same as they become familiar with recurring projects and workflow.

Define the task. It’s crucial to know your deadline, desired outcome, and the steps needed to get there to set your team members up for success. Also, consider breaking larger projects into smaller chunks and whether sharing them among multiple team members is better. ick the right person. Ensure the team member has the P right skills and experience for the job, in addition to the capacity to complete the task based on your deadline and their workload. larify your expectations. Help your team member see C what constitutes success for the project, spelling out the desired outcome and deadline. Then, invite your team member to creatively think about how the job can be completed successfully using an alternative path. onfirm their understanding. Begin by simply asking them C to describe the project to you. Then, ask about the areas they have questions on or where they anticipate potential sticking points as they proceed. ffer resources. Let your team member know where to go O for help when needed. Encourage resourcefulness while providing guidance on how long you want the team member to struggle on their own before seeking help.

Follow up on progress. Ask your team member to provide status reports on their progress with the project.

Additionally, schedule reminders on your calendar to follow up in case they drop the ball. Identifying problems midstream will enable you to avoid negative surprises and redirect efforts as needed.

Reprinted with permission of the Illinois CPA Society.

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NOVEMBER | DECEMBER 2023 | 7

DIVERSITY, equity & inclusion Bridging the generational gap with business development

By Jon Hubbard, shareholder, Boomer Consulting

There are five generations in the workplace for the first time in history. People often view this situation as a negative—a conflict leaders must work around or manage.

However, with a change in mindset, we can begin bridging the generational gap and use it as a strategic advantage in business development and growth.

5 generations in the workplace First, let's look at the five generations that make up the modern workforce, with characteristics of each according to the Society of Human Resource Management (SHRM).

Remember that "generation" is just one layer of a person's identity, and understanding their age doesn't replace the need to understand someone individually.

• Traditionalists/Silent Generation (born 1925 – 1945).

Tend to follow the rules and believe change is necessary only when something is broken. Have respect for authority and a hierarchical system. Value seniority and job titles.

• Baby Boomers (born 1946 – 1964). Like structure in organizations. They tend to challenge rules but are cautious about change.

• Generation X (born 1965 – 1980). Tend to be flexible and see change as an opportunity. They are unimpressed by authority and expect their competence and skills to be respected.

• Millennials (born 1981 – 2000). Have more fluid work styles. They expect to create rules and see change as equal to improvement. Respect authority figures once they've demonstrated competence.

• Generation Z (born 2001 – 2020). Agile and seek balanced rules. They expect change as part of reality.

They want to be engaged and will push back against one-way conversations with managers.

If these descriptions resonate with you and the individuals in your company, remember the same is true in your clients' organizations. This is a demographic trait—not just in the accounting world.

8 | CPA Voice

Leveraging the generational gap The generational diversity in your firm can be used to its advantage when it comes to business development and growth. By highlighting the different generations in a firm, it is possible to show clients and prospects the depth and breadth of a team's skills, knowledge and experience. In other words, you demonstrate that your firm is a team of experts—not just one person.

By acknowledging the strengths of each generation, you can also better leverage their collective knowledge and skills to meet client needs. For example, Traditionalists have had decades of experience in the profession, which can be used to build trust and add value to businesses. Baby Boomers are often the rainmakers in firms, actively involved in their communities with a knack for strategic thinking and problem-solving. Generation X is highly adaptable regarding technological changes and works well with diverse teams.

Millennials bring fresh perspectives and new ideas, while Generation Z is highly tech-savvy.

Generational strengths in business development So what does this look like in practice? Here are a few ideas.

• Take younger team members on client and prospect calls. Traditionalists and Baby Boomers tend to handle a lot of networking, business development and client relationship building for their firms. Starting today, commit to never attending another client meeting, sales call or networking event without a younger staff member.

Bringing them along allows the next generation to learn firsthand from their more seasoned peers and observe how professional relationships are developed.

• Encourage team members to teach and learn from each other. The Traditionalists and Boomers in your firm have a wealth of technical and industry knowledge. Still, they may not be up-to-date on the latest technology or diversity and inclusion initiatives. Gen X understands these changes but could benefit from Millennials and Gen Z's broader perspective.

• Use the 3x3 methodology. For each client in your firm, work on having three people on the firm side have a relationship with three people in the client's organization.

These relationships should span multiple departments and levels. Growth comes from deeper connections. Often, when clients stagnate—engaging your firm on only one or two services and never growing beyond that—it's because only one or two people in the firm have connections to the client.

• Consider the messenger—not just the message.

When meeting with a client or prospect, consider who in your firm would be able to best deliver the message so the client will receive it. For instance, will a CFO from the Baby Boomer generation take advice from a 24-year-old on how to improve the business? Will the 20-something founders of a tech startup feel like a Traditionalist really "gets" their business? We all know highly insightful

members of younger generations and older people who are technophiles. But we also know some people shut down and won't listen to the best advice simply because it's coming from an unexpected messenger. Whenever possible, match up generations in your business development and client engagements in a helpful way.

Inspired organizations realize the value of leveraging the experience and talents of their team members, regardless of age. By intentionally harnessing the strengths of the different generations that make up your firm, everyone can contribute, and your firm and your clients will benefit.

Embrace the potential each generation offers, use it to your advantage and excitedly anticipate the growth that will come next.

Jon Hubbard, shareholder, consultant, at Boomer Consulting helps accounting firm leaders find success in the areas of leadership, talent and growth. Jon is a facilitator for the Boomer P3 Leadership Academy, Boomer Talent Circle and Boomer Marketing & BD Circle. He also guides firms to grow and be more effective in the areas of client service, marketing and business development.

NOVEMBER | DECEMBER 2023 | 9

AUDIT & assurance

Attest fees and independence

By Laura Hay, CPA, CAE, OSCPA executive vice president

10 | CPA Voice

Recent professional standard-setting initiatives have focused on the delicate balance between attest fees and independence.

At its August 2023 meeting, the Professional Ethics Executive Committee (PEEC) of the AICPA approved new Interpretations to the Code of Professional Conduct and revisions to its Conceptual Framework for Independence related to fees. As part of PEEC’s convergence efforts, these new Interpretations build upon a recent project of the International Ethics Standards Board for Accountants (IESBA) related to fees, and a 2022 PEEC Interpretation related to unpaid Fees, requiring CPAs to evaluate independence related to fees on a principles basis.

Unpaid fees CPAs are familiar with the threat of unpaid fees to independence; however, a prior bright-line test of fees greater than one year past-due is no longer the sole criterion. Revised Ethics Interpretation ET sec. 1.270.101, Unpaid Fees, effective Dec. 31, 2022, introduced a principles-based approach to better align the CPA’s assessment of independence with IESBA and SEC rules.

Factors to consider in evaluating whether threats to independence are at an acceptable level include:

Determining fees for an attest engagement New Interpretation ET sec. 1.230.030, effective Jan. 1, 2025, seeks to prevent the determination of fees for an attest engagement being influenced by the provision of other services to that attest client. The Interpretation states that determining the fees for an attest engagement is a business decision that should consider the facts and circumstances relevant to that specific engagement, including the requirements of technical and professional standards.

The provision of other services to the attest client is not an appropriate consideration in determining the attest engagement fees, except that cost savings achieved from experience derived from providing other services may be considered.

Allowing the attest engagement fee to be influenced by the firm’s provision of other services to the attest client would present self-interest and undue influence threats that cannot be reduced to an acceptable level by the application of safeguards, thereby impairing independence.

• The significance of the unpaid fees to the covered member

Fee dependency

• The length of time the fees have been due from the attest client

New Interpretation ET sec. 1.230.040, effective Jan. 1, 2025, addresses threats when fees from an attest client represent a large proportion of the fees of the firm. The dependence on that client and concern about losing the client would create a threat of self-interest or undue influence.

• The attest client’s agreement to pay the unpaid fees • The covered member’s assessment of factors affecting the ability of the attest client to pay the fees Threats to independence are at an acceptable level if, when the current-year attest report is issued, unpaid fees are both clearly insignificant to the covered member and relate to professional services provided less than one year prior to the issue date of the current-year attest report.

If unpaid fees are significant to the covered member and relate to professional services provided more than one year prior to the issue date of the current-year attest report, threats and safeguards should be evaluated. The Interpretation provides examples of safeguards that may be applied to reduce threats to an acceptable level, including suspending work for the client if necessary.

The Interpretation does not apply to unpaid fees from an attest client in bankruptcy.

When total fees from an attest client represent or are likely to represent a large proportion of the total fees received by the firm for each of five consecutive years, independence would be impaired unless one of the following safeguards is applied: • Prior to the attest report being issued for the fifth year, an appropriate reviewer who is not a member of the firm issuing the report reviews the fifth year’s attest work.

• After the attest report on the fifth year has been issued and before the sixth year’s attest report is issued, an appropriate reviewer who is not a member of the firm issuing the report reviews the fifth year’s attest work.

If total attest fees continue to represent a large proportion of total firm fees, one of these safeguards should be applied annually thereafter.

NOVEMBER | DECEMBER 2023 | 11

This concept was added to the Conceptual Framework for Independence (ET sec. 1.210.010) by inserting under selfinterest threat the example of relying excessively on fees from attest and nonattest services from a single attest client. Added to the examples of an undue influence threat is, “A large proportion of fees charged by the firm to an attest client is generated by providing nonattest services.”

A new paragraph was also added to Interpretation ET sec.

1.224.010, Client Affiliates, to clarify that fees from entities meeting the definition of affiliate are not required to be included when calculating the total fees generated from a financial statement client. However, if the covered member knows or has reason to believe that a relationship or circumstance involving any of the entities defined as an affiliate are relevant to the evaluation of fee dependency, the covered member should include the affiliate in identifying, evaluating and addressing threats related to fee dependency.

Early implementation of the changes effective Jan. 1, 2025 is allowed.

Laura Hay, CPA, CAE, is the executive vice president of The Ohio Society of CPAs and the staff liaison to the Accounting, Auditing, Professional Ethics Committee and Peer Review Committee. She can be reached at Lhay@ohiocpa.com or 614.321.2231.

THREE THINGS August 2023 meeting, 1. Athet itsPEEC approved new Interpretations to the Code of Professional Conduct and revisions to its Conceptual Framework for Independence related to fees.

12 | CPA Voice

PAs are familiar with the 2. Cthreat of unpaid fees to independence; however, a prior bright-line test of fees greater than one year past-due is no longer the sole criterion.

ew Interpretation ET sec.

3. N1.230.040, effective Jan. 1, 2025, addresses threats when fees from an attest client represent a large proportion of the fees of the firm.

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NOVEMBER | DECEMBER 2023 | 13

BUSINESS management & strategy

5 trends fueling the future of process

By Arianna Campbell, shareholder and consultant, Boomer Consulting, Inc.

14 | CPA Voice

Staying at the forefront of smart, intentional change in your company can be tough.

Technology and best practices change quickly.

So how can you keep up the momentum and generate support from your team?

That’s a challenge virtually every process manager, project manager and change leader faces today.

Keep these trends in mind as you embark on the next initiative in your firm.

Process metrics as part of overall firm KPIs In any process improvement initiative, beginning with the end in mind is crucial. We do this by establishing the key benefits to the company and its stakeholders, and these benefits should align with the firm’s strategic plan.

The next step is to determine what will be measured to assess the progress of these changes. Once you confirm these KPIs, they should be part of the firm’s overall KPIs. If they aren’t included in the firm leaders’ dashboard with other key metrics, they won’t be top of mind, and what gets measured gets managed.

The right KPIs to monitor vary from project to project, but some common indicators of process effectiveness include increases in efficiency and consistency as well as capacity creation.

Empower and expand cross-functional teams

Mindset shift in resource management A critical mindset shift is to move beyond scheduling and hours to focus on talent growth and development strategies. This is best done by evaluating resource management across the firm instead of by department. It is not just scheduling, hours and warm bodies—it’s about how we approach resourcing to grow our people.

Scheduling is a major process frustration in most companies. They have a certain number of engagements and a certain number of people, and they’re just trying to plug in the holes. As a result, there’s little time or energy left to consider skills or growth.

Technology can play an important role in resource management, but simply plugging people and hours into scheduling software is not the answer. Instead, firms need to create a resource management strategy. This should include a focus on talent growth and development and a plan for automation and outsourcing.

When this strategy is supported by a process to move from scheduling and hours to putting together a framework to grow our people by aligning our talent with available growth opportunities, staff are more empowered and feel like they have more autonomy over their work.

Leading firms focus on expanding their cross-functional teams for process improvement. They realize that success isn’t achieved by a mandate from the top down or by a particular department or silo.

From effort to productivity and value

An expanded cross-functional team includes representatives from different levels—including partners, managers, staff, IT and administration. But—and this is key—it also includes input from other service lines and departments that the change might impact. This helps break down process silos.

Leading businesses have changed their focus to productivity (what is getting done and what projects are moving across the finish line) instead of just thinking about hours.

To make a significant and lasting impact, these teams must be empowered and given the responsibility and authority to drive change.

In the past, the focus has been on process improvement initiatives on efficiency and hours. But these only measure effort.

Taking it a step further, it’s essential to consider whether the productivity gains are valuable to all parties involved.

These are better measures of success than efficiency and hours, and they help us shift the conversations with clients away from effort towards value.

NOVEMBER | DECEMBER 2023 | 15

Process improvement + project management + change leadership = smart growth Process and project management have been viewed as silos in the past, but they both support change leadership.

Companies now recognize that looking at all three is the most effective way to make lasting progress.

It’s essential to define each of these roles and have a trained and skilled leader in each area. Who leads project management? Who leads process improvement? Who leads change leadership? The leaders in these areas should have the certifications and training to use proven frameworks for each area. These skill sets then need to be used together for smart growth.

Businesses usually fall into one of two categories: 1. They lack in one or more areas, or 2. They have expertise in all the areas, but there isn't a framework for integrating these three areas.

To make lasting change that sticks, companies need leaders with expertise working together in process improvement, project management and change leadership.

Process improvement isn’t a stand-alone effort.

Businesses need to make sure they are driving the right behaviors. If your processes are bloated and ineffective, increasing productivity and value is difficult. Process improvement (along with project management and change leadership) is essential.

Arianna Campbell is a shareholder and consultant for Boomer Consulting, Inc. She helps accounting firms challenge the status quo by leading process improvement initiatives that result in increased profitability and client satisfaction. She also facilitates the development and cultivation of future firm leaders in The P3 Leadership Academy™ Academy.

THREE THINGS the key benefits 1. Etostablish the company and these

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(what is getting done and what projects are moving across the finish line) instead of just thinking about hours.

16 | CPA Voice

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TECHNOLOGY

Essential IT documentation for your company

By Craig Rhinehart, chief information officer, Robinson, Grimes & Company

18 | CPA Voice

Maintaining documentation is part of my job, and it's a struggle for me. I suspect I am not the only one, so I'll call this "the elephant in the room" and acknowledge its presence.

The purpose of this article is not to justify or make a case for creating written policies. It's about recommended IT-related policies for your firm. With that said, though, here's a brief justification for creating written policies: Documented policies and procedures help guide an organization's operation. Well-written policies and procedures allow outside auditors or peer reviewers to assess risk and perform compliance work. It also helps an organization stay consistent when management needs to make decisions.

When documenting formal policies, it is important to keep them as simple as possible and involve the appropriate team members in their development. It is also essential to keep the policies easily accessible and promote them throughout the organization.

In very practical terms, having documented policies can: • Improve compliance. Pick any regulatory body (SOC, HIPAA, PCI, GLB, GDPR, etc.) and various policy documents will be on their compliance checklist. Also, some clients or potential clients will have vendor policies that hold you, as a potential vendor, to a standard – often requiring you to have specific policy documents (among other things).

• Reduce cyber-liability insurance costs or improve the availability of coverage. Insurance providers will want to know you have specific policies in place and may want to review those policies. Without them, you may be denied coverage.

• Lead to organizational improvements. Reviewing and updating policies often triggers creative thinking and can lead to organizational improvements.

• Boost employee confidence. Having policies in place sends a clear message to the entire team that everyone is on the same page. There is no guesswork about what they're doing and how they are to do it.

firm is different. This is at least part of why finding good "fill-in-the-blank" templates for most policies is difficult or impossible. Below are those essential IT-related policies that every firm should have in place. This list could also be applied to other businesses; it isn't specific to accounting firms.

• Information Security – From NIST (the National Institute of Standards and Technology at the US Department of Commerce), an Information Security Policy is an "Aggregate of directives, regulations, rules, and practices that prescribes how an organization manages, protects, and distributes information." PurpleSec (a network security company that provides risk assessments, vulnerability management, and penetration testing services) describes it this way: "Information technology security policies are a set of written practices and procedures that all employees must follow to ensure the confidentiality, integrity, and availability of data and resources. Creating security policies is considered the most critical element of an IT security program."

In more simple and practical terms, it's a policy that describes how your firm manages and protects its data.

This is a good place to start if you do not have written IT-related policies.

• Incident Response – According to NIST, an Incident Response Plan is "The documentation of a predetermined set of instructions or procedures to detect, respond to, and limit consequences of a malicious cyber-attack against an organization's information systems(s)." CISA (the U.S. government's cyber defense agency ) says, "An Incident Response Plan is a written document, formally approved by the senior leadership team, that helps your organization before, during, and after a confirmed or suspected security incident." All of the cyber liability insurance provider applications I have reviewed in the past year inquire about this policy. All firms should have an Incident Response plan in place.

A common struggle is knowing which IT-related policies should be created. There are numerous possibilities, but a few are essential to any firm's IT operation - regardless of size. Each firm's policies will look different because each

NOVEMBER | DECEMBER 2023 | 19

• Business Continuity and Disaster Recovery – These policy document names are frequently used interchangeably but serve distinct purposes. According to KirkpatrickPrice, an information security auditing firm, "Disaster recovery planning is limited to IT infrastructure and resources. It concerns preparations for IT outages and downtime, temporary measures to maintain availability when infrastructure is disrupted, and how the organization plans to recover IT operations to their original state.

The list above represents the essentials — the policies every firm should have. There are numerous other policies that your firm may choose to have in place. Some may be separate policy documents, while others may be contained within one listed above - most likely the Information Security Policy. The list below is not an exhaustive list of all possibilities, but it does include some of the more common additional policies or content sections: • Acceptable Use – Describes a firm's systems' acceptable (and unacceptable) use(s).

• Backup – Describes procedures, policies, and responsibilities for performing backups, including a welldefined schedule.

• Bring-Your-Own-Device – Describes when and how employees, contractors, and other authorized end users can use their own laptops, smartphones and other personal devices on the company network to access corporate data and perform their job duties.

20 | CPA Voice

• Clean Desk – Ensures that confidential data is not exposed to unauthorized individuals who may pass through your area.

• Document or Data Retention – Stipulates when data no longer serves its purpose and should be deleted.

Data Retention Policies are critical to meeting various regulations and retention requirements. This includes retaining data and records for the specified period of time and also the prompt deletion or destruction of records once the retention timeframe has expired.

• Hardware and Media Disposal – Establishes and defines standards, procedures, and restrictions for the disposition of IT equipment and media in a legal, cost-effective, and secure manner.

• Password – Describes the password rules login accounts must meet, such as length, complexity, age, and re-use limitations.

• Patch Management – Describes the parameters by which an entity operates its software patch management program.

• Remote Work – outlines when and how employees can work from locations other than the office or on a flexible schedule.

• Social media – Part of a company's business code of conduct that tells employees how to represent themselves and, by extension, the company on social media. It includes guidelines to protect the company's security, privacy, and legal interests.

• Vendor Approval/Management – Describes how to evaluate vendors according to risk level and assess potential new vendors for adherence to appropriate cybersecurity practices.

When suggesting creating policies, it is common to hear, "Where can I get a template or an example?" Therefore, any article with a list of policies would be incomplete without some attempt to provide at least a few sources for examples.

There are numerous sources for policy templates on the internet. Some sites offer them at no cost, while others provide them with a fee attached. Here are a few sites that offer quality IT policy templates at no cost: • PurpleSec (purplesec.us) • The National Institute for Standards and Technology (nist.gov) • The SANS Institute (sans.org) • The Center for Internet Security (cisecurity.org) A golden rule about policies is, "If it isn't written, it doesn't exist." These are wise words when it comes to your firm's IT policies.

Reprinted with permission of The Georgia Society of CPAs. Craig Rhinehart is the chief information officer for Robinson, Grimes & Company, PC, in Columbus, Georgia. Craig has served as the firm's IT manager, director, and now CIO for over 25 years. He is a member of the GSCPA IT Advisory Council and the BlackBerry Cylance Executive Advisory Board.

THREE THINGS common struggle is knowing 1. Awhich IT-related policies should be created. There are numerous possibilities, but a few are essential to any firm's IT operation – regardless of size.

emember, each company’s 2. Rpolicies will look different because

rule about policies is, 3."If A itgolden isn't written, it doesn't exist."

each company is different.

NOVEMBER | DECEMBER 2023 | 21

TAX

By Sheneya Wilson, CPA, MS, MBA, founder & CEO, Fola Financial LLC

22 | CPA Voice

Questioning whether you need to adopt artificial intelligence (AI) in your tax practice today is like an accountant 20 years ago deciding whether to use tax preparation software or continue to prepare paper tax returns. Thus, putting AI tools into practice should be something that practitioners embrace.

What is ChatGPT?

ChatGPT as a tax assistance tool

Think Google, with a human-like consciousness — a search engine with the ability to put information into context and make it more useful. Developed by OpenAI, ChatGPT (chat. openai.com) is an AI-powered language model trained on an extensive dataset, enabling it to comprehend and respond to a wide array of queries.

Here’s an example scenario:

How to use ChatGPT?

Kevin, a tax practitioner, has a client who wants to understand the tax implica­tions of the sale of an investment property while in the process of filing his tax returns with Kevin’s firm. Kevin has no prior experience working with this type of client transaction and decides to proactively seek advice from ChatGPT. He walks through the four-step process:

Think of ChatGPT as your brilliant best friend of whom you can ask any ques­tion. The more time you spend interacting and communicating with this friend, the better the conversations become and the better advice you’ll receive.

Step 1. Objective: His objective is to gain relevant knowledge of the tax implications of a client’s investment property sale and be able to provide a proper response to the client’s inquiry.

Using ChatGPT can be broken into four steps:

Step 2. Prompt: Kevin enters the following prompt into ChatGPT: What are some questions a tax accountant should ask as it relates to a client looking to gain an understanding of the tax implications of an investment property sale?

1. Define your objective. Clearly state what you want to achieve by using ChatGPT, such as getting answers to questions or solving specific problems.

2. Provide clear and specific prompts. Ask ChatGPT clear and specific ques­tions or provide detailed instructions to get accurate and relevant responses.

3. Assess quality and evaluate accuracy. Check the responses from ChatGPT to ensure they are reliable and align with what you know or have learned.

4. Iterate to customize output as needed. Make adjustments to your questions or prompts and try different approaches to get better results from ChatGPT. Now let’s apply these steps in practice.

ChatGPT-4 output (top 5 answers): • What was the purchase price of the investment property and when was it acquired?

• Have there been any improvements or renovations made to the property during the ownership period?

• What is the selling price of the property and when was it sold?

• Are there any outstanding mortgages or loans on the property?

• Did the client use the property for personal purposes, such as a vacation home, in addition to rental purposes?

NOVEMBER | DECEMBER 2023 | 23

ChatGPT-4 Output (top 3 answers): • Capital Gains Tax: The client may be subject to capital gains tax on the profit made from the sale of the property.

The specific tax rate depends on various factors, such as the client’s income level and how long they held the property. Relevant IRC code: Section 1221.

• Depreciation Recapture: If the client previously claimed depreciation deductions for the property, a portion of the gain may be subject to depreciation recapture tax at a higher rate. Relevant IRC code: Section 1250.

• Net Investment Income Tax (NIIT): Depending on the client’s income and filing status, they may be liable for an additional 3.8% NIIT on their investment income, including capital gains from the sale of the property. Relevant IRC code: Section 1411.

Step 4. Iteration: Kevin now has a clearer direction to begin researching the tax code and properly advising the client.

Step 3. Evaluation: Kevin evaluates the output to determine whether these questions are relevant to his objective.

Many of them are, so he decides to include them as discussion points during his prepa­ration meeting with the client. Though this response was good, it doesn’t really meet all his objectives. He enters the following prompt to continue his chat: What are some of the common tax implications for a client who sold an investment property during the tax year. Please provide the relevant IRC code for reference.

Kevin’s experience demonstrates how powerful and useful AI tools such as ChatGPT can be for tax practitioners and firm owners. However, it is important to remember that while ChatGPT can offer valuable assistance, professional expertise and judgment remain crucial in interpreting and applying the information provided by the model — and this is great news for practitioners who seek to leverage technology to propel their success.

Reprinted with permission of the New Jersey Society of Certified Public Accountants.

Sheneya Wilson, MS, MBA, CPA, is the founder and CEO of FOLA Financial LLC. She can be reached at sheneyawilson@folafinancial.com.

THREE THINGS hatGPT is like Google, with a 1. Chuman-like consciousness — a search engine with the ability to put information into context and make it more useful.

24 | CPA Voice

he more time you spend 2. Tinteracting and communicating with ChatGPT, the better the answers you’ll receive.

hile ChatGPT can offer 3. Wvaluable assistance, professional expertise and judgment remain crucial in interpreting and applying the information provided by the model.

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The Ohio CPA Foundation 2022-2023 Annual Report Dear Donors and Friends, Our theme for this year’s Annual Report is Impact in Action and that is exactly what your Ohio CPA Foundation is doing each and every day. Everything we do makes a profound and lasting difference in the lives of future CPAs. But that impactful work isn’t possible without support from donors like you.

Through innovative programs and initiatives, The Ohio CPA Foundation leads the nation in attracting, nurturing, and supporting accounting talent. We have seen high school students become impassioned about accounting careers, witnessed the transformation of college students into future leaders of the profession, and celebrated the triumphs of those who have overcome financial obstacles to achieve their dreams.

Our impact has been tangible. Scholarships, educational outreach, and professional development opportunities have become more accessible to aspiring accountants, irrespective of their background or financial circumstances. The Foundation's ongoing commitment to inclusivity and diversity ensures that we are not just addressing the talent shortage but also fostering a profession that mirrors the rich tapestry of our community.

Your leadership and support have made our efforts to inspire and attract future generations of accounting talent possible. Please continue to work with us as we invest in the future of the profession and provide much-needed support for our future colleagues.

The road ahead may still be challenging, but with your commitment and generous financial support, we will nurture the aspirations of countless future CPAs. Sincerely,

Jay Moeller, CPA FY 2020-2023 Chair, Board of Trustees The Ohio CPA Foundation

26 | CPA Voice

Alison Strohm, CPA FY 2024-2026 Chair, Board of Trustees The Ohio CPA Foundation

The Impact of College Funding

$75,000 Foundation Scholarships awarded in 2022

For more than 70 years, The Ohio CPA Foundation has been

Ana M. Clarke Price Scholarship winner Wright State University

awarding scholarships to deserving Ohio accounting majors who plan to become CPAs. With the average cost of a fouryear degree in Ohio pegged at more than $32,000, the need to provide financial assistance to Ohio’s best and brightest accounting students is greater than ever.

The generosity of organizational and individual donors like you enabled The Ohio CPA Foundation to grant more than $75,000 in scholarships in 2022. All gifts, regardless of size, ensure that the Foundation can continue helping Ohio’s accounting students on the path toward the CPA license.

Ana M. is one of those beneficiaries and the very definition of leadership, innovation, and commitment. Those qualities earned this Wright State University student the 2022 Clarke Price Scholarship named in honor of OSCPA’s former President & CEO.

In her junior year, Ana joined a local accounting firm in the Dayton area. She specializes in business services at the firm with a concentration in individual tax return preparation.

This senior accounting major—who is fluent in Spanish— graduated in summer 2023.

NOVEMBER | DECEMBER 2023 | 27

The Impact of Student Programming

The Ohio CPA Foundation has been hard at work expanding its most impactful programs. CPA Camp is one such program that has grown from one location to four throughout the state. This year, more than 250 high school students from underserved populations got to meet with accounting students and young professionals at college campuses across Ohio to learn more about careers in accounting.

…I wanted to thank you for the amazing day. You have given so many students the opportunity to explore a new pathway and it was so impactful.

– Jason Wong, project coordinator/advisor, Sinclair College

From meeting recruiters to participating in a financial literacy session to competing in an interactive paper airplanebuilding contest, students and teachers alike found CPA Camp to be an eye-opening and rewarding experience.

It was an excellent learning experience.

Now considering accounting as a career.

– Elijah, high school freshman

28 | CPA Voice

This flagship program saw a return to in-person events in 2022-23. During that time, Accounting Career Days drew more than 1,200 high school and community college students to eight community colleges and universities across Ohio.

The half-day events are designed to introduce students to accounting and the varied career options available in the profession. Local CPAs serve as speakers, sharing their insights on the profession and explaining the available job opportunities that can be attained by obtaining the CPA credential. College accounting majors are also on hand to encourage students to major in accounting and provide advice on making the transition from high school to college.

The program is set to expand to three additional locations in 2023-24 with a goal of attracting even more students.

ACLA is an innovative program that’s in its 9th year of offering college accounting majors from underrepresented backgrounds an opportunity to prepare themselves for a successful future in accounting and finance. This hybrid program saw a record number of students from around the state participate in one or more of three virtual sessions culminating in a closing luncheon held at Kent State University.

Events such as ACLA have profoundly impacted firstgeneration college students like Jeena P. The University of Cincinnati accounting major attended ACLA after hearing about it through a friend.

“I really enjoyed that I was able to meet a lot of company representatives and students who are in the same position that I am in and connect with a few of them on LinkedIn,” said Jeena.

While at the event, Jeena learned that P&G had awarded her a scholarship. “…I was extremely grateful for the scholarship because it made a big difference in my college career, especially as a first-year and firstgeneration student.”

Jeena P. ACLA attendee The University of Cincinnati

NOVEMBER | DECEMBER 2023 | 29

The Impact of Peer Influencers Cameron M. former OSCPA Student Ambassador

The influence students have on one another is undeniable, which is why the Foundation-funded Student Ambassador Program is so successful. This highly effective peer-topeer recruiting program saw a record number of Student Ambassadors deployed to 26 of Ohio’s community college and university campuses.

Ambassadors introduce students to the exciting career possibilities available in this opportunity profession. The program also helps Student Ambassadors develop

Don't see your alma mater? Find out how to get them on the list! Contact Becky Hixen at 614.764.2727, ext. 2248.

Ashland University

Ohio State University

Bowling Green State Univ.

Ohio Wesleyan University

accounting careers.

Case Western Reserve University

Sinclair College

The growth in this cornerstone pipeline program is

Cincinnati State

attributable, in part, to the intentional strategy to expand to

University of Toledo

community colleges. OSCPA now counts four community

Columbus State Community College

University of Akron

colleges among its partner organizations with plans to

Cleveland State University

increase that number as a means of reaching the non-

Hiram Collage

traditional student market. This Ohio CPA Foundation-

John Carroll University

funded program is responsible for helping to build one of

Kent State University

valuable skills and make rewarding connections that will serve them well when they are ready to embark on their

the largest student pipelines in the nation.

Miami University

Networking is just one of the skills that Cameron M.

Muskingum University

got to practice during his tenure as an OSCPA Student

Ohio Northern University

Ambassador.

Ohio University

Stark State College

University of Cincinnati University of Dayton University of Findlay Wilberforce University Wright State University Xavier University Youngstown State University

The recent Cleveland State University graduate frequently attended networking events throughout his college career and believes a connection he made at one of those events helped him land his job with Deloitte.

Cameron got involved with OSCPA's Student Ambassador

26

Schools with Student Ambassadors

program because he knew the position required public speaking, a skill he wanted to develop and was nervous to try. "Knowing that this is a skill I wanted to improve and become comfortable with, I volunteered for the position," said Cameron. He says his OSCPA student membership has offered great resources that have helped him reach his career goals.

30 | CPA Voice

5,785 Ohio’s student pipeline, one of the largest in the nation.

The Impact of Program Sponsors Kim Zavislak, CPA Office Managing Partner KPMG

The Ohio CPA Foundation relies on the generous support of its many donors, especially organizational donors. Without such funding, the important work of the Foundation would not be possible. Nearly 50 organizations have demonstrated their commitment to the profession by donating $1,000 or more to The Ohio CPA Foundation.

Among the substantial gifts the Foundation received during the past year was a $25,000 donation from KPMG in recognition of the impact the Foundation makes in the state of Ohio. The KPMG Foundation, in celebration of the firm’s 125th anniversary, encouraged the firm’s offices to consider where they would like to make financial

“This is an investment in the future of others coming after

contributions. KPMG Office Managing Partner Kim Zavislak

us who want to be in the profession,” Zavislak said,

said the Columbus office chose The Ohio CPA Foundation.

adding that she views the profession as having very high

48

integrity, “which absolutely aligns with everything found at The Ohio CPA Foundation.”

Organizations donating $1,000+ to The Ohio CPA Foundation.

The Impact of Legacy Giving The Ohio CPA Foundation celebrates the many organizations and individuals whose generous financial support makes our many impactful programs possible.

From corporate sponsorships to planned giving to memorial and tribute gifts, Foundation donors ensure the Foundation is able to continue presenting programs designed to attract students to the profession and providing financial assistance to those who need it most.

One shining example of such giving is a scholarship that the Brockman family created to memorialize their father, the late George Brockman, CPA, former OSCPA executive board member. The scholarship is earmarked for firstgeneration students, veterans, community college students, residents of rural communities, or those taking a nontraditional path to college.

George Brockman (left)

Brockman’s son Dave Brockman, CPA, also a former OSCPA executive board member and current Foundation board trustee says his dad felt like the profession gave him an opportunity to help people but also ensure a good life for his family. “I think he felt like he wanted a way to provide that for other people,” he said.

Another way to make a lasting mark on the profession is by making a bequest or planned financial gift to The Ohio CPA Foundation. Legacy giving is a powerful way for individuals to demonstrate their dedication to ensuring the longevity and vibrancy of Ohio’s accounting pipeline. The Ohio CPA Foundation celebrates the members who are part of the 1956 Legacy Society—visionary donors who recognize the significance of their lasting influence, leaving a legacy that extends beyond their lifetimes and will create opportunities for future generations of accountants to realize their career aspirations. These legacy gifts are the bedrock upon which the Foundation can continue its vital work in shaping a brighter future for the profession.

NOVEMBER | DECEMBER 2023 | 31

The Impact of Partnerships Working to find solutions to the accounting talent shortage

profession, says John Jones, Ohio CPA Foundation board

is the highest priority for The Ohio CPA Foundation

member and president & CEO of Hope Toledo.

and doing so requires innovative thinking. The past year has seen The Ohio CPA Foundation enter into an unprecedented number of unique and innovative partnerships in an attempt to build a more robust, diverse, and sustainable pipeline of future CPA talent.

One such partnership was with Hope Toledo, a comprehensive, inclusive, cradle-to-career initiative that aims to serve as an educational pathway for those affected

“…I would encourage those that are in the profession to consistently look at our kids as having the full potential to become whatever it is that they want to be,” said Jones.

The Foundation also has partnerships with more than 60 schools and organizations, including Upward Bound, DECA, Junior Achievement, Youth Opportunities Unlimited, Jack and Jill of America, and College Now just to name a few.

by systemic and generational poverty. The organization’s mission is to support and ensure high-quality education, from pre-K to post-secondary or trade school, for every

John Jones CEO, Hope Toledo

young person in the city of Toledo, to create generational economic change for the betterment of the community.

Through the partnership, The Ohio CPA Foundation has been able to expose participants in Hope Toledo to the varied and lucrative career paths in the accounting profession. Hope Toledo connects the dots for students between learning about a career and seeing it as a possible reality for their

Pipeline Program Sponsors We gratefully acknowledge the following organizations whose generous financial support makes our programs possible.

32 | CPA Voice

I didn’t realize that the accounting profession is so diverse and varies around the world!

ACAP-Ohio participant

The 2022-2023 Ohio CPA Foundation Board of Trustees

CHAIR OF THE BOARD Jay Moeller, CPA RSM US LLP

TREASURER Chris J. Barrett, CPA Crowe LLP

Ebonie Z. Jackson, CPA Lucas County Children Services

Bill Miller, CPA KPMG Columbus

PRESIDENT Scott D. Wiley, CAE The Ohio Society of CPAs

TRUSTEES Carin Agresti, CPA Procter & Gamble

David A. Brockman, CPA Sikich LLP

THE OHIO CPA FOUNDATION STATEMENT OF ACTIVITIES

Robert F. Fay, CPA Sole Practitioner

Christopher O. Igodan, Jr., CPA

Years Ended April 30, 2023 and 2022

Nationwide Insurance - PSP

Alison Strohm, CPA

REVENUE

EY

THE OHIO CPA FOUNDATION STATEMENT OF FINANCIAL POSITION

2023 Total

2022 Total

Donated services

$434,000

$281,000

Contributions

$444,000

$406,000

Investment income (loss), net

$92,000

($267,000)

$970,000

$420,000

Professional awareness

$251,000

$180,000

Diversity and inclusion

$100,000

$72,000

Total revenue

As of April 30, 2023 and 2022

ASSETS Cash and cash equivalents Pledges receivable, net Investments Total assets

2023

2022

Pipeline: $70,000 $164,000 $4,031,000 $4,265,000

$81,000 $172,000 $3,939,000 $4,192,000

LIABILITIES AND NET ASSETS LIABILITIES Scholarship payable Accounts payable - the Society, net Deferred revenue Total liabilities

EXPENSES

$58,000 $20,000 $14,000 $92,000

$58,000 $12,000 $21,000 $91,000

NET ASSETS Without donor restrictions With donor restrictions Total net assets

$411,000 $3,762,000 $4,173,000

$457,000 $3,644,000 $4,101,000

TOTAL LIABILITIES AND NET ASSETS

$4,265,000

$4,192,000

Workforce development

$50,000

$7,000

Total Pipeline

$401,000

$259,000

General and administrative

$327,000

$253,000

Fundraising

$170,000

$137,000

Total expenses

$898,000

$649,000

CHANGE IN NET ASSETS

$72,000

($229,000)

NET ASSETS - BEGINNING OF YEAR

$4,101,000

$4,330,000

NET ASSETS - END OF YEAR

$4,173,000

$4,101,000

The accompanying condensed financial statements are derived from the Foundation’s audited financial statements, which received an unqualified opinion from Schneider Downs & Co., Inc. A complete copy of these financial statements is available by contacting 614.764.2727.

NOVEMBER | DECEMBER 2023 | 33

MEMBERS in motion

Megan L. Kishman, CPA

Tony LaNasa, CPA, CFE

Brandon Miller, CPA, CGMA

AKRON Zach Bezon, Michael Dascenzo, Quinton Farren, Adam Gatrell, Celeste Neal, and Teresa Reed have been hired as staff accountants at Bober Markey Fedorovich.

Samantha Catlin has been hired as a senior accountant at Bober Markey Fedorovich.

Megan L. Kishman, CPA, has been named senior manager of the tax services department at Bober Markey Fedorovich.

Tyler Hagmeier, Shane Hartman, Jacob McMichael, and Emily Mijic have been named supervisors at Bober Markey Fedorovich.

Conner Bast, Eden Copley, Dakota Dunwiddie, and Caitlin Stemple have been named senior accountants at Bober Markey Fedorovich.

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Steve Anderson, CPA

Mike Winters, CPA

William Hall

Kyle Wilkinson has been named junior systems administrator of the IT department at Bober Markey Fedorovich.

CLEVELAND Steve Anderson, CPA, Tony LaNasa, CPA, CFE, and Brandon Miller, CPA, CGMA of HW&Co. have all been named to Ohio Business Magazine’s latest list of the Ohio 500, a list of the 500 most powerful and influential people in Ohio.

HW&Co. was named to the Northcoast99 for the 19th time.

The Northcoast 99 is a list of the 99 best employers in northeast Ohio.

Rosemary Rehner, CPA, CEPA, has been named president-elect of Barnes Wendling CPAs & Economic YSU Ethics PENNSYLVANIA CPE Day Mike Winters, CPA, has been hired as a nonprofit group manager at S.R. Snodgrass, P.C.10 May

8:00 a.m. – 12:00 p.m. | 4 credits WEST VIRGINIA William Hall has been hired as a tax group manager at S.R. Snodgrass, P.C.

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LEARNING events at a glance 11/28-29

8:30 a.m. – 4:30 p.m.

Form 1040 Individual Tax Tune-Up

16 credits

TX

11/30

8:30 a.m. – 4:30 p.m.

Forms 1120-S and 1065 Return Review Boot Camp for New and Experienced Reviewers

8 credits

TX

12/6

8:30 a.m. – 4:30 p.m.

YSU Annual Accounting & Auditing Update

8 credits

AC

12/7

8:00 a.m. – 3:10 p.m.

Not-for-Profit Conference

7 credits

MULTIPLE

12/14

12:00 p.m. – 1:00 p.m.

Town Halls 2023

1 credit

MS

12/19

8:30 a.m. – 4:30 p.m.

This Year’s Best Income Tax, Estate Tax, and Financial-Planning Ideas

8 credits

TX

12/19

8:30 a.m. – 12:00 p.m.

Current Issues in Accounting & Auditing: An Annual Update

4 credits

AC

12/20

1:00 p.m. – 4:30 p.m.

Annual FASB Update and Review

4 credits

AC

1/9

8:30 a.m. – 12:00 p.m.

Getting Ready for Busy Season: Key Changes Every Tax Practitioner Should Know

4 credits

TX

1/12

8:30 a.m. – 4:30 p.m.

The Best Individual Income Tax Update Course

by Surgent

8 credits

TX

Quarterly Ethics: Ohio Professional Standards & Repsonsibilities Dec. 9 | Virtual 8:30 a.m. – 11:30 a.m. | 3 credits

AU

AU

CoreCon – Core Skills Conference

RE

Dec. 7 | Virtual 8:00 a.m. – 4:30 p.m. | 8 credits

MULTIPLE

MEGA Tax Conference

Strategic Finance & Accounting Conference

Employee Benefit Plan Audit Conference

Dec. 12-13 | Virtual 8:30 a.m. – 4:45 p.m.

16 credits (CLE pending)

Mar. 21 | Virtual 8:30 a.m. – 4:30 p.m.

8 credits

Apr. 26 | Virtual 8:30 a.m. – 4:30 p.m.

8 credits

TX

MULTIPLE

AU

COMPETENCIES Financial Accounting

Audit & Assurance

Business Management

Technology

Ethics & Professional Standards

Tax

Risk Management & Fraud

Essential Skills & Prof. Development

Talent MGMT & Human Resources

Multiple

CREDIT TYPE AC

TX

Accounting Taxes

Business BM Management & Organization

RE

Regulatory Ethics

BL

Business Law

AG

Accounting (Government)

BE

Behavioral Ethics

IT

Information Technology

AU

Auditing

EC

Economics

PR

Production

MS

Management Services

FI

Finance

HR

Personnel/ Human Resources

SK

Specialized Knowledge

PD

Personal Development

MULTIPLE

AV

Auditing (Government)

CA

Computer Software & Applications

CM

Communications & Marketing

ST

Statistics

Register today + find more events at

ohiocpa.com/Events23 Explore OSCPA competency framework at ohiocpa.com/CBL

NOVEMBER | DECEMBER 2023 | 35

issuu.com/cpavoice

Read

on Issuu

Read CPA Voice on Issuu.com, and never miss the latest news, best practices, trends in the profession and information on what OSCPA is doing to serve you as a member.

Follow us at:

issuu.com/CPAVoice

by CPAs for CPAs Accelerate your career and enhance your skills with quality learning from OSCPA. Choose from 9 core competencies to help you transform your skill set and compete in today’s crowded marketplace

Audit & Assurance

Business Mangement & Strategy

Essential Skills & Professional Development

Ethics & Professional Standards

Risk Management & Fraud

Talent Management & Human Resources

Tax

Technology

ohiocpa.com/CBL

36 | CPA Voice

Financial Accounting, Reporting & Analysis

THE OHIO SOCIETY OF CPAs 2023– 2024 BOARD OF DIRECTORS CHAIR OF THE BOARD

Libby Cullins, CPA, MBA JPMorgan Chase Columbus

CHAIR-ELECT

Rick Fedorovich, CPA Bober Markey Fedorovich Cleveland

PAST CHAIR

Craig Marshall, CPA Ernst & Young Plain City

PRESIDENT AND CEO

Scott D. Wiley, CAE The Ohio Society of CPAs Columbus

VICE CHAIR, FINANCE

Jessie C. Wright, CPA, CGMA, CVA Schroedel, Scullin & Bestic, CPAs and Strategic Advisors, Canfield

DIRECTORS Brandi Carson, CPA La-Z-Boy Inc. Toledo

Gregory J. Jonovich, CPA, MBA Materion Mayfield Heights

Amy Vetter, CPA, CGMA, CITP The B3 Method Institute & Drishtiq Yoga Mason

Courtney Clark, CPA Deloitte Columbus

Angela Lewis, CPA Crowe Columbus

Mark Welp, CPA, CFE Holbrook & Manter Columbus

Keenan Cooper, CPA Grant Thornton LLP Cincinnati

A’Shira Nelson, CPA Savvy Girl Money Cleveland

Ellen Wisbar, CPA Mayer Hoffman McCann, P.C. Cleveland

Chris Igodan Jr., CPA Nationwide Financial Columbus

Carolyn Smith, CPA, MBA, CRMA Member, Governmental Accounting Standards Board Columbus

LATELY on the podcast Listen to the entire series wherever you get your podcasts!

The workforce development series is available now!

Episode title: Exposure and continued development essential for accounting students From the episode: “The real world is very different than application or being tested on something. And depending on whatever space you're in, or whoever you're working with, that really does impact the work that you do.”

Kayla Campbell, senior tax analyst, Fifth Third Bank

ohiocpa.com/Podcast

DECEMBER 12-13, 2023 16 credits TX

Educate your team and save a bundle. Multiple registration discounts available!

CLE Pending

Register by Nov. 14 to save $50 with early registration.

Thank you to our presenting sponsor:

Thank you to our session sponsors:

Learn more and register today at

ohiocpa.com/MEGA23