President’s Perspective

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disclosures

disclosures.vscpa.com disclosures@vscpa.com

SEPTEMBER/OCTOBER 2018 Volume 31, No. 4

Managing Editor Jill Edmonds disclosures@vscpa.com

Contributing Editor Chip Knighton cknighton@vscpa.com

Public Affairs & Communications Director David Bass dbass@vscpa.com

Editorial Task Force

Olaf Barthelmai, CPA Cheri David, CPA Mike DellaRipa, CPA Melisa Galasso, CPA Genevieve Hancock Karen Helderman, CPA Alesia Lewis, CPA Gabriele Lingenfelter, CPA Harold Martin Jr., CPA David Peters, CPA Mark Plostock, CPA Barbara Sukramani, CPA

Disclosures is published six times a year by the Virginia Society of Certified Public Accountants (VSCPA). The magazine’s mission is to communicate information of value to VSCPA members, including professional issues and VSCPA initiatives. The materials and information in Disclosures are offered as material only and not as practice, financial, accounting, legal or other professional advice. Statements of fact and opinion are made by the authors alone and do not imply an opinion on the part of VSCPA officers, members or editorial staff. Publication of an advertisement in Disclosures does not constitute a VSCPA endorsement of the product or service. Copyright © 2018 Virginia Society of CPAs.

VSCPA Preferred Providers

The Virginia Board of Accountancy

In this issue, I’d like to discuss the regulatory body that significantly impacts all of our members: The Virginia Board of Accountancy (VBOA). We’re proud to have a positive, professional relationship with the VBOA as we each work to ensure all Virginia CPAs meet the highest ethical and professional standards.

We have a long history with the VBOA — the VBOA was created in 1910, one year after the VSCPA was formed in 1909. Over the years, both organizations have worked hard to develop a set of rules and regulations that not only protect the public who use CPA services, but also reflect the constantly changing environment in which we work.

Over the decades, the VSCPA has always provided VBOA board nominations for the governor’s consideration. We take this process seriously, and our goal is to nominate fair-minded individuals who understand the profession and are open to different perspectives and new ideas.

We begin the nominations process with a call for candidates from VSCPA leaders, members and staff. From there, a VSCPA committee reviews the applications and interviews potential nominees. We then schedule a meeting with the Virginia Secretary of the Commonwealth to discuss our nominees and learn of the administration’s needs and preferences regarding board service. Ultimately the governor has final say, and we’re proud to have a 70 percent success rate in getting our nominees onto the board.

Why is it so important to have a say in VBOA processes and decisions? The VBOA plays a vital role in ensuring the profession is performing to the highest standard, and that role can have implications for all Virginia CPAs. Not only do we need board members who are knowledgeable, fairminded and experienced in dealing with difficult situations, we need regulators who also understand the future of the profession and how its services evolve. We need members who can guide the profession in a proper, fair way, and who will make sure that the regulations it enacts are not hindrances.

We believe the VBOA has a broad perspective and is a leader among boards of accountancy in the country, and we want to ensure that continues. All VBOA meetings are open to the public, and we attend every one. We go so you don’t have to, but if you want to, you should attend. It’s informational and useful.

We’re grateful for all our members who answered the call to serve on the VBOA and its committees. And we’re grateful for the productive relationship we have with VBOA staff as we work on our vital common goals. n

Stephanie Peters, CAE, has served as VSCPA president and CEO since 2007.

speters@vscpa.com @StephPeters connect.vscpa.com/StephaniePeters