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FALL 2016


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Contents C PA I N P E R S P E C T I V E FA L L 2 0 16 | V. 13 - N O . 4

MEMBERS Chair’s Perspective 4 Your Trusted Network 5 Member Spotlight 6 New Members 7 Day in the Life 10


THE CPA PROFESSION Successful Exam Candidates 13 Professional Development Tools & Resources 14 Did You Know? 15 Enhancing the CPA Designation 17 THE SOCIETY

17 10

Advocating for Members 21 Upholding Integrity 25 As Seen On The Smoke Detector 42


FEATURES CPA Day of Service 26 National Recognition for CPA Center of Excellence® 28 Social Engineering Fraud 30 Speaking of Change 32 Connecting Universities in Indiana and Wales 34 The Making of the Competency-based Ethics Course 36 Read It Online 41


WATCH Search our CPA Day in the Life backstories at

READ See the entire issue online



O F F I C E R S:

P R E S I D E N T & C E O:

John D. Sauder, CPA, CGMA, Chair Douglas A. York, CPA, CGMA, Chair-Elect Jennifer A. Knecht, CPA, Vice Chair Erland C. Porter, CPA, Vice Chair Thomas D. Wadelton CPA, CGMA, Vice Chair

Gary M. Bolinger, CAE


Stephanie Parton, CAE

Doug L. Baldessari, CPA Tony T. Bultinck, CPA Richard W. Campbell, CPA, CVA, CGMA Jennifer R. Clutter, CPA, CGMA Timothy C. Musholt, CPA Rebekah S. Payne, CPA Nicklas S. Talarico, CPA, CGMA Mark L. Winzernread, CPA, CGMA Angela L. Zirekelbach, CPA




Allison Estep

CONNECT CPA Center of Excellence® Online Community:

P U B L I C AT I O N M O N T H S: January, May, August and November CPA IN Perspective is a publication of the Indiana CPA Society and is published by INCPAS. The Society does not assume responsibility for statements therein, nor does publication of advertisements endorse or authenticate products or service. The editor reserves the right to accept or decline any material based on space availability or appropriateness of content. Reproduction or use of editorial or graphic content without permission is prohibited.

Indiana C PA S ociet y 8250 Woodfield Crossing Blvd., #100 P.O. Box 40069 Indianapolis, IN 46240 phone: (317) 726-5000 fax: (317) 726-5005 toll free: 1-800-272-2054 email: web: © 2016 Indiana CPA Society. All Rights Reserved.

P U B L I C M E M B E R S:

Benjamin Campbell Thomas J. Wyss FALL 2016



Chair’s Perspective

PIU Takeaways Address Automation and Innovation By John Sauder, CPA, CGMA

IT’S LATE NOVEMBER ALREADY – UNBELIEVABLE! HOPEFULLY YOU’VE HAD AN ENJOYABLE SUMMER AND FALL. It was my first summer as a “retiree” so it was definitely different for me. Several people told me that you can easily become busier when you retire vs. your former career. I can’t go that far, but there was plenty that kept me busy. Between the INCPAS Board chair position, serving on the Conner Prairie Board, a few consulting engagements, and taking our 4- and 5-year-old grandkids to Disney, the calendar was full. I did have the opportunity to attend one of the Professional Issues Updates in September. I hope you took advantage of one of the 15 PIUs in 13 Indiana cites. I know more than 2,000 members attended. As always, Gary presented some thought-provoking ideas and challenges facing the profession. What were the points that made you think? I had a handful of items to make me think that things are changing, and changing quickly: • 34 percent of workers think their job will be fully automated in their lifetime, according to “The Global Evolving Workforce Study” by Dell. • KPMG is “hiring” IBM Watson to help professionals focus on higher levels of innovation and problem-solving with clients, because Watson will do more of the rule-based work. It will be able to look at volumes of data that, from a human standpoint, would be impossible to manage, according to Steve Hill, U.S. head of innovation for KPMG. • Multiple sources project a 90 percent probability that the current work done by accountants will be automated in 20 years.


CPA IN Perspective

Does that make you think? It sure does me. What does that do to the unemployment rate? What skills are going to be needed? How do we advise our kids and grandkids on their career choices? Anyway, it’s something that will require some creative thinking and innovation to keep our practices and businesses relevant in the future. It will take some tough decisions going forward, deciding where to invest your resources and what to de-emphasize. I was reminded of the saying: “Be decisive, right or wrong, make a decision. The Road of Life is paved with flat squirrels who couldn’t make a decision.” The fall moved along with the INCPAS Leadership Cabinet/Emerging Leaders Alliance meeting in late October and recently concluded board retreat in early November. At both meetings, we heard updates and participated in discussions about the three Board-level task force topics for this year: innovation, leadership development and CGMA strategy. They are all critical issues for the Society, the profession and individual members as we continue to adapt to increasing complexity, globalization, and the expanded role of CPAs and accounting professionals in business. An item of note in this issue: be sure to look at the feature on the CPA Center of Excellence® receiving the prestigious ASAE Power of A Summit Award. This is not an award restricted to CPA associations, but is for all associations nationwide. Congratulations to INCPAS and its hardworking staff on being recognized for creative leadership. If you have not signed in as a user of the COE® Online Community, I encourage you to do so. There is timely, quality information being shared by our members. I also urge you to try the COE® products including the competency-based online courses, the Insight skill assessment toolkit, and the Quick Start Guide.


Your Trusted Network













































Your Trusted Network PROMOTIONS Farrah Bastin, CPA, Michael Breining, CPA, David Low, Jenna Schnellenberger, Natalie Sollberger and Joseph Stroup, CPA, tax senior; Joe Brown, CPA, Jacob Buehler, CPA, S. Cope, James Fetzer, CPA, Joshua Gross, CPA, Sam Guerra, CPA, Emily Heckaman, CPA, Kevin O’Connor, Jenna Owens, CPA, Michael Parsons, Ryan Ray, CPA, Natalie Sollberger, CPA, Daniel Stoddard, CPA, and

Mitchell Vahala, CPA, audit senior; Brittany Cuthbertson, CPA, Mark Solid, CPA, Robert Doyle Jr., CPA, Kyle Simpson, CPA, and Mark Solid, CPA, audit manager; Jeremy Huser, CPA, Christopher Petesch, CPA, audit senior manager; Abby Shafer, CPA, and Michelle Siebert, CPA, tax manager; Kenny Dennison, CPA, and Timothy Doyle, CPA, member; and Kristen Kelleher, CPA, audit principal,

Amy Unterfranz, CPA, audit principal, and Gregory Wasiak, CPA, CGMA, member, Dauby


O’Connor & Zaleski, LLC, Carmel.

Adam Lawrence, CPA, partner,

Mark Bradford, CPA, chief

Christopher Reid, CPA, senior

executive officer, Old National Bancorp, Indianapolis region. Lacey Hamilton, CPA, and Michelle Pallme, CPA, manager,

London Witte & Co. LLP, Indianapolis.

Crowe Horwath LLP.

accountant, Blue & Co., LLC, Carmel. Stephanie Flora, CPA, Debra Anne Gill, CPA, and Katy Ritter, CPA, CSEP, senior manager, Blue & Co., LLC, Columbus. Landon Hackett, Continued on page 39...

IN MEMORIAM Ryan Greenwood passed away

in June 2015.

Maurice Hahn passed away in

June 2016.

Yvonne Perkins passed away in

Ralph Naragon passed away in October 2016.

November 2016. Perkins was a member of the INCPAS Board from 1993-96 and the Indiana CPA Educational Foundation.

Naragon was a member of the INCPAS Board from 1989-92 and the Indiana CPA Educational Foundation Board from 1998-2000. Naragon

FALL 2016



Member Spotlight


What keeps you up at night? I like to get things off of my “to-do” list well before they are due. If I get close to a deadline and still don’t have something completed, I keep thinking about it until I get it done.

What made you decide to become a CPA? I got my JD before I became a CPA. My first accounting job was working at PricewaterhouseCoopers in their tax department. I had a deep tax background but not a lot of accounting background. Over my time at PwC I decided that becoming a CPA would give me more credibility in the industry and round out my knowledge base. It’s a decision I never regretted.

What is the best thing you have read recently? I recently re-read “The Coming Jobs War” by Jim Clifton. Several years ago I became heavily involved as a volunteer in economic development because I believe deeply that the creation of good jobs is the key to our communities’ future. Clifton’s book is a powerful tome for what communities need to do to create a place that people want to work and invest in. We are implementing that in Northeast Indiana, and it is having success.

How do you unwind after a busy day at the office? My wife would tell you that I never completely am “off” from work (smartphones see to that) but I like to read, spend time with my family or watch TV to unwind. Our children are teenagers now so we try and spend as much time as we can with them, before they head off to college and out of the house.


CPA IN Perspective

What advice would you give to someone just starting out in the profession? My advice would be to learn as much as you can and not be afraid to ask questions. I have been fortunate in my career to have some great mentors. I have had to learn to take them seriously when they said to come to them with anything; and I did. Only by soaking up as much knowledge as you can, from folks who have been there and done that, will you grow as a professional.

How do you think the profession will be different in five years? As a CPA in a corporation, I probably look at this question differently than someone in public accounting. I believe that as companies outsource more of their bookkeeping and tax roles the internal CPA’s role in a corporation will become more and more as a highly trusted consultant/business partner to senior management. I think this is a great place to be in as it allows us to grow as professionals but also build the CPA brand as essential to running a successful business.

What is your favorite app and why? In my previous role as head of financial operations for the retail division of Lincoln Financial, I was on the road constantly. My favorite app then was the Delta Airlines app as it always kept me up-to-date on the state of my flights and gave me great, pro-active options when flights invariably got delayed or canceled.

Would you like to be featured as the next Member Spotlight in CPA IN Perspective? Email INCPAS Director – Marketing Communications Stephanie Parton, CAE at


New Members

Welcome New Members AFFILIATE - NON-CPA ACCOUNTING April Beaman, Cummins Ann Clark, Dahms & Yarian, Inc. Ruthanne C. Freeman, Myers & Stauffer LC Ginger Hernandez, Martin James Investment & Tax Management, LLC James L. Kline, Crowe Horwath LLP Megan Logsdon, Marietta Financial Services, Inc. Heather R. Minor, Katz, Sapper & Miller, LLP Janet L. O'Tousa, University of Notre Dame

AFFILIATE - PARAPROFESSIONAL Crystal M. Bernier, BGBC Partners, LLP Fawn Ryan, Agresta, Storms and O'Leary ASSOCIATE Kari A. Baker, Katz, Sapper & Miller, LLP Samuel C. Bookwalter, CliftonLarsonAllen LLP Andrea L. Bousman, Deloitte Mary E. Buente, Deloitte Emily K. Campbell, Sponsel CPA Group, LLC

INCPAS welcomes new and returning members from June 1-August 31, 2016.

Manjot Kaur, BKD, LLP Kelsey M. Long, Blue & Co., LLC Elizabeth C. Platau, Crowe Horwath LLP Alan C. Rohrer, RSM US LLP Geoffrey T. Schoeneck, EY Tyler S. Sipe, BKD, LLP Theresa Tetrault, CliftonLarsonAllen LLP Suitao Yang, FoxConn Steven A. Zikeli, PwC LLP CANDIDATE Brittney S. Allen, London Witte Group, LLC Bobby J. Atwell Jr., Williams & Keckler, LLC Elizabeth Burton, State of Indiana BMV Kayla D. Conner, Katz, Sapper & Miller, LLP Catherine E. Davidson, BKD, LLP Paul Dennison, Damar Services, Inc. Andrew R. Eiler, Blue & Co., LLC Jordan A. Estep, Baden Gage & Schroeder, LLC Jeffrey Ferguson, Gamble Richardson Andrew T. Gibson, Cornerstone CPA Group LLP

Erik L. Gottschalk, Crowe Horwath LLP J Robert. Helms, J.R. Helms & Associates, PC Brandon C. Hoge, Sponsel CPA Group, LLC Mark M. Kramer, Cullar & Associates, PC, CPAs

Johnathan M. Long, Greenwalt CPAs, Inc. Tammy S. Lovins, Tempur Sealy Allison Lowery, Indiana Bureau of Motor Vehicles

Armando Magallanes, Blue & Co., LLC Sarah A. Porter, Dauby O'Connor & Zaleski, LLC

Emily J. Riddle, Bucheri McCarty & Metz LLP Christina M. Sibukome, Dauby O'Connor & Zaleski, LLC

Whitney R. Teeters, ACT Services, Inc. Kelsey A. Thang, BKD, LLP Ryan A. Turner, Miller & Stewart, LLC Alex D. Ward, Greenwalt CPAs, Inc. Jessica Weldishofer, State of Indiana BMV Rhonda K. Wireman, Katz, Sapper & Miller, LLP

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FALL 2016



New Members

RESIDENT Angela B. Andrews, CPA, IUPUI Jorge Arredondo, CPA, Pedcor Companies Carol M. Baker, CPA, Sidley Austin LLP Anne Boese, CPA, BKD, LLP Keisha R. Boger, CPA, Blue & Co., LLC Joshua B. Bowman, CPA, Cummins, Inc. Libby Bozarth, CPA, Katz, Sapper & Miller, LLP Denise L. Burch, CPA Ann K. Carlisle, CPA, OneMain Holdings, Inc. Nancy H. Carlson, CPA, Music For All Louise E. Caroll-Howard, CPA, Rowley & Company LLP Diane L. Cogdell, CPA, HP Kyle J. Couch, CPA, Trinitas Ventures Lee Ann. Couture, CPA Karyn E. Cunningham, CPA, Ultimus Fund Solutions Kevin G. Curosh, CPA, Crowe Horwath LLP Lisa M. Dager, CPA, Defense Finance & Accounting Service Joshua M. Detwiler, CPA, Crowe Horwath LLP Abby K. Dilger, CPA, Enviroplas, Inc. Karen A. Doerner, CPA, Sikich, LLP Calla M. Dolph, CPA, Adams Remco, Inc. Johnathon D. Duff, CPA, BKD, LLP Lisa M. Earnhart, CPA, LM Harrison & Associates CPAs PC

Carly M. Eason, CPA, Harding, Shymanski & Co. Ralph G. Eggleston, CPA Benjamin R. England, CPA, Katz, Sapper & Miller, LLP Thomas E. Faust, CPA, Edward Opperman, CPA Michael S. Fennerty, CPA, Katz, Sapper & Miller, LLP Amy E. Frankenberger, CPA, Cornerstone Financial Solutions, LLC Lesley A. Freeman, CPA, Katz, Sapper & Miller, LLP Jeremy E. Gallion, CPA, EY Sean E. Gebhard, CPA, Earl Stewart Toyota Daniel L. Graber, CPA, Crowe Horwath LLP John W. Gricius, CPA, Blue & Co., LLC Kasey A. Hayes, CPA, Hammer & Co., CPAs Andrew S. Heischman, CPA, BKD, LLP Lauren D. Huber, CPA, Roche Diagnostics Corporation Kyle D. Hummel, CPA, Rowley & Company LLP Devin M. Jenkins, CPA, Crowe Horwath LLP Andrea S. Johnson, CPA, Christel House Academy Marc E. Kemen, CPA, Katz, Sapper & Miller, LLP Joungyeon Kim, CPA, Indiana University Kokomo Keith M. Kizer, CPA, CliftonLarsonAllen LLP Michael G. Krumme, CPA, The Watermark Group Kara D. Lane, CPA, Kara D Lane, CPA John W. Larch, CPA, Allegion, PLC Donald N. Lining, CPA, Sikich, LLP

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CPA IN Perspective

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Whitney L. Litkenhus, CPA, OneMain Holdings, Inc. Gregory A. MacDonald, CPA, Hamil, Lehman & England, PC Jonathan W. Markee, CPA, Allegion, PLC Anthony R. Mattingly, CPA, CHAN Healthcare Blake T. McDaniel, CPA, Sikich, LLP Amy L. McDonald, CPA, Katz, Sapper & Miller, LLP Grace E. McNulty, CPA, Katz, Sapper & Miller, LLP Benjamin M. McPherson, CPA, ArcelorMittal USA Thomas J. Miller, CPA, BKD, LLP Daniel S. Mohr, CPA, Katz, Sapper & Miller, LLP Tyler J. Mowery, CPA, Crowe Horwath LLP Bryce L. Murphy, CPA, State of Indiana BMV Mamadou Ndiaye, CPA Vincent O. Osaghae, CPA, Chicago State University Lauren H. Ou, CPA, Deloitte Churntech J. Park, CPA, EY Alan Poland, CPA, Herman & Kittle Properties Nathan A. Potter, CPA, Katz, Sapper & Miller, LLP Andrew R. Richards, CPA, Myers & Stauffer LC Todd M. Roach, CPA, ProFed Credit Union Matthew J. Robertson, CPA, Blanton Hufford & Associates, LLC Shane A. Rodgers, CPA, Zimmer Biomet Holdings, Inc. Judy K. Roy, CPA, Indiana Tech Jason A. Rudd, CPA, CNO Financial Group

Stephanie M. Sands, CPA, Rodefer Moss & Co. PLLC Patrick B. Schroeder, CPA, Harding, Shymanski & Co. Michael J. Seegel Jr. CPA, Katz, Sapper & Miller, LLP Stephanie L. Shaw, CPA, Langdon Shaw Associates, Inc. Xiaolin Shi, CPA, Comer, Nowling & Associates, P.C. Edward F. Sikora, CPA Patrick J. Snyder, CPA, Crowe Horwath LLP Ellen M. Somers, CPA, Swartz, Retson & Co., PC Amy R. Stoffel, CPA, SDI La Farga, LLC Terrance J. Sullivan, CPA, T. J. Sullivan Jessica G. Tibbetts, CPA, Hillenbrand, Inc. Brittany A. Townsend, CPA, Vectren Corporation Emma L. VanEmon, CPA, EY Brett M. Walter, CPA, Crowe Horwath LLP Brian D. Webb, CPA, Crowe Horwath LLP Robert C. Weimer, CPA, Forguites, Weimer and Hayden LLC Kevin J. Weingartner, CPA, Myers & Stauffer LC Andrew J. Williamson, CPA, Indiana Michigan Power Co. Samuel G. Wilson, CPA, Indiana State Board of Accounts Debra J. Wright, CPA, Wright Way Accounting Services, Inc. Jamie A. Zahery, CPA, Katz, Sapper & Miller, LLP Thomas J. Zeiger, CPA, ArcelorMittal USA Derek B. Zook, CPA, RSM US LLP Continued on page 38...

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FALL 2016



Day in the Life of a CPA

Mitch Pletcher, CPA I’m a second generation CPA. My dad is a director for Insight Accounting Group and previously served on the INCPAS Board of Directors. My mom teaches an accounting class at Elkhart Central High School and has had a number of students participate in the INCPAS Scholars program.


SOMETHING EXTRA: Indiana University

Alma Mater: Indiana University, Kelley School of Business, Bloomington

recruiting — training instructor for third-year senior associates

COMPANY: Crowe Horwath LLP

PREVIOUS POSITIONS: I have been with Crowe

SIZE: 3,388 as of March 31, but closer to 3,600

now. Crowe Horwath LLP ranks eighth on Accounting Today’s 2016 Top 100 Firms list, based on net revenue. DIRECT REPORTS: Currently a manager of nine

people in our financial services audit practice in Indianapolis. I typically have between two and six direct reports for each audit engagement. JOB DESCRIPTION: Audit manager specializing

WATCH: See the rest of Pletcher's story in an interview at


CPA IN Perspective

in financial institutions. My job is to oversee the planning and execution of the audit. I’m responsible for complex audit areas and financial reporting matters. I coordinate communications with the client and monitor the engagement team.

my entire post-college career INCPAS INVOLVEMENT: Mentor for INCPAS

Scholars Program

WHEN I’M NOT AT WORK FAMILY: Wife, Nicole PETS: Bernese mountain dog, Margo HOBBIES: Golf, basketball, Xbox, fantasy

football this time of year


Build your professional network now. Friends

that you have in high school and college will eventually choose their own career paths that will likely differ from yours. Do your best to stay in touch. You’d be surprised how beneficial it is to have a wide variety of resources in your professional career. Your friends now will be able to provide different perspectives from their experiences and will also be able to share professional networks of their own.

WHY CPA I knew I wanted a career in business/finance by the time I was in high school and I knew I wanted to give myself the best opportunity to succeed. Accounting offered the security and wide variety of career paths and opportunities that other business areas couldn’t offer. I was exposed to the CPA profession from an early age. I’m a second generation CPA. My dad is a director for Insight Accounting Group in Goshen and previously served on the INCPAS Board of Directors. My mom teaches an accounting class at Elkhart Central High School and has had a number of students participate in the INCPAS Scholars program. Their success and experience has certainly played a big role in my career path.

everything important happening in the world. As I listen, I get a short workout done in our home gym. 7 A.M. I take our dog, Margo, on

a walk around the neighborhood, then return to the house to get ready for the day. 8 A.M. I arrive at the office. I open

my email and review upcoming events/meetings on my calendar. I assemble a list of everything I would like to accomplish for the day. I respond to and send a handful emails. check. We have an office “Fantasy Football League” that’s taken pretty seriously. The majority of our financial services audit group in Indy is involved. I check my roster, review transactions, and see if there are any intriguing free agents. the periodicals that I track daily (American Banker, Indianapolis Business Journal, etc.), and read any articles that seem interesting or client/industry related. Then, I discuss the status and plan for a few shared engagements with my coworkers.

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9:30 A.M. I jump on our biweekly

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5:15 A.M. I mumble a couple

10:15 A.M. I review some interim

6 A.M. My wife leaves the house,

I turn on ESPN2 for “Mike and Mike” to get an update on

Pletcher with his parents Patti and Matt Pletcher.

8:30 A.M. I skim the headlines of

goes off. She works at a contract research company in Greenfield and needs to leave the house by 6 a.m. words associated with the time of day and the noisiness of my wife’s daily preparation. I roll out of bed, turn on the news, start a pot of coffee, and make my wife a small breakfast that she takes for the road.

Crowe has implemented a “Where to Work” policy, which gives individuals the option to work wherever it’s convenient and they can be most productive, while still aligning to client needs. It provides people with added flexibility for workrelated trips, day-to-day operations and a better work/life balance.

8:25 A.M. Five-minute ESPN

marketing call to discuss networking opportunities and communication/research with some prospect companies. After the meeting, I do a little additional research and update my prospect listings.

5 A.M. My wife’s alarm clock


audit procedures completed by my direct reports for “XYZ client.” We are in the midst of our interim client fieldworks so our engagement teams are often going onsite to clients to perform walkthroughs of processes and controls at our banking clients, and substantively testing some higher risk areas.

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FALL 2016



Day in the Life of a CPA

12:15 P.M. Lunch Break — eat a

quick packed lunch at my desk while I send a few emails and update my list of priorities for the afternoon. After I’m finished eating, I round up a couple of co-workers for a game of foosball or ping pong in the break-room. (These new additions to our break-room in 2016 have greatly increased office morale and networking between our different service/industry groups.) 1 P.M. Move on to a different

banking client engagement. I read through the responses/answers from direct reports to comments/ questions that I had left the previous week. 2:30 P.M. Engagement Planning

Meeting: The entire engagement team for “ABC client” meets to discuss our audit approach for the current year. We discuss risks identified from prior year and any new items/risks found in current year gathered from discussions with the client. Additionally, we have a new web based auditing platform and methodology that was introduced in 2016 called Crowe Insight for Audit. We have discussions on the new format and any audit methodology improvements to consider to increase efficiency and effectiveness for our client. 3:30 P.M. I transition to a client

benefit plan review — Our financial services group also


CPA IN Perspective

assists with the audit of client employee benefit plans in the summer and fall. I read through the financial statements prepared by one of the direct reports and give notes/comments on items to change. 5:45 P.M. Check the progress of my

list made at the beginning of the day. Double check to ensure I hit all the high priority items for that day. Pack up. 6 P.M. I’m home and greeted by

Nicole and Margo. The benefit of Nicole’s early morning is she is home by 4 p.m. most days. She takes on the task of dinner preparation. We debrief the highlights of our day over dinner and then I have clean-up duty. 7:15 P.M. Margo and I head to one

of the parks in Fishers for an after dinner stroll. 8 P.M. Nicole and I watch an

episode of one of our favorite TV shows. I open my laptop and do some administrative tasks or browse social media. If it’s Monday or Thursday night we might walk to one of the local bars to watch some of the football game. 10 P.M. Bedtime. I thought

bedtimes ended at the start of adolescence. Something I once despised, I now embrace due to our early mornings. I typically lay in bed and read or watch old episodes of Seinfeld until I fall asleep.

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Successful Exam Candidates

Congratulations Exam Candidates Bryce E. Adair, CPA, La Rosa & Co., LLC Carol M. Baker, CPA, Sidley Austin LLP Jordan D. Bass, CPA, Stonegate Mortgage Corporation Troy L. Blewitt, CPA, Crowe Horwath LLP Andrea L. Bousman, Deloitte Evan Brizius, Andersen Tax, LLC Michele L. Brown, CPA, Kruggel Lawton CPAs Claudia A. Burns, Summit CPA Group Sabrina L. Caldwell Jose Castro, Crowe Horwath LLP Kevin Cavanaugh Cody Clarke, Crowe Horwath LLP Josh M. Detwiler, CPA, Crowe Horwath LLP Colleen A. Diemer, BKD, LLP William H. Dixon Cory G. Elder, CPA Fang Fan, Equian, LLC James M. Fetzer, Dauby O'Connor & Zaleski, LLC Jacqueline H. Foster, CPA Austin Friesen Anthony E. Galbreath Emily M. Gipson, Franciscan Alliance St Francis Health Ethan Gregerson, RSM US LLP Jennifer A. Groth, CPA, Kemper CPA Group, LLP Isha Grover Sizalobuhle Gumede Scott A. Hadler, Umbaugh Ross Hagen, CPA, Umbaugh Rachel M. Harned Donny A. Heath, EY Michael L. Heintz Andrew S. Heischman, CPA, BKD, LLP Mengchen Hu Jamie A. Humbarger, CPA, Purdue University Nikolas Jeftich Christopher L. Jolly, CPA, Toyota Material Handling, USA, Inc Richard W. Kaht, Dauby O'Connor & Zaleski, LLC Mandy Kaur, BKD, LLP Minah Kim, CPA, EY Seth S. Kimmerling, CPA, Barrett & Stokely, Inc. Tyler J. Kleinschmidt, CPA, Alerding CPA Group Maria R. Knight, EY

Successful Exam Candidates: April/May 2016 Window

Chris J. Kothe, Somerset CPAs, PC Kate A. Koval, Umbaugh Bobby J. Krisch, CPA Daniel M. Kruger, CPA, London Witte Group, LLC Andrew S. Lanam, CPA, Reedy Financial Group, PC Jamen P. Lane Eric H. Lebold, CPA, RSM US LLP Steven D. Lizarme, CPA, Simons Bitzer & Associates, PC Jen M. McQuiston, CPA Scott R. Meister, CPA, Simplified Management Solutions, Inc Cory L. Metzger, Crowe Horwath LLP William R. Mulroy, Forest River, Inc. Albertus J. Nel Patrick O'Neill, EY Kunal Patel Alan Poland, CPA, Gershman Partners H  eather R. Poole, CPA, Indiana Office of Utility Consumer Counselor

Angelina Qin Meghan Reed Andrew R. Richards, CPA, Myers & Stauffer LC Matthew W. Ringle, Cummins Daniel D. Roberts, CPA, Anthem, Inc Ben F. Rudman, BKD, LLP Patrick Sanders, CPA, Crew Carwash Kyle N. Scheffel, CPA, EY Nicholas A. Schubert, CPA, AES/IPL Arniel G. Sia Joshua C. Smith, CPA, Blue & Co., LLC Jeremiah J. Stichter, CPA, BKD, LLP Scott A. Stob Alex Szarenski, CPA, Katz, Sapper & Miller, LLP Mike E. Troyer Charles P. Vernia Jeremy C. Wann, CPA, Harding, Shymanski & Co Barry W. Wiggins Jeffrey A. Willenzik, EY Samuel G. Wilson, CPA, Indiana State Board of Accounts Megan N. Wolf, BGBC Partners, LLP Shirley Yang, Foxconn Hualei Zhang, CPA Xia Zhou

Those listed above without a symbol are not current INCPAS members. If you know or work with any of these successful exam candidates, contact INCPAS Director – Membership & Engagement Courtney Kincaid at FALL 2016



Professional Development Tools & Resources


Conference Calendar THE RENAISSANCE CFO CONFERENCE Everything is your job description. December 16 • Marriott North, Indianapolis Sponsored by Secure ERP, Inc.

The skills you need to do the technical part of your job can be learned at any conference. The Renaissance CFO is for those of you proactively looking ahead, around and outside of your immediate role. Find out what’s coming down the pipeline with disruptive innovation, compensation preferences, integrated reporting and ways to thrive even under complex regulations. Register at


January 9-10, 2017 • Ritz Charles, Carmel This two-day program taught by practicing CPA Vern Hoven covers fast-breaking new tax developments affecting individuals, estates, businesses, partnerships and corporations, and provides attendees with the most complete reference manual available.

Pe r s o n a l T r us t s a nd Es tat es P r o t e c t, G r o w a n d M a n a g e Y o u r A s s e t s Our full-service Personal Trust Division includes: Revocable and Irrevocable Trusts

Charitable Trusts

Estate Settlement


Life Insurance Trusts We are ready to respond with the highest level of personal service, privacy, confidentiality, and attention to detail. In the ever-changing world of financial services, our Personal Trust Division is a constant.

317-261-9790 ©2016 The National Bank of Indianapolis


4039 WM_TrustEstate_8x4.9.indd 1

Not FDIC Insured

No Bank Guarantee

May Lose Funds

11/24/15 8:11 AM


Did You Know?

Profession News

Winter Frenzy Earn up to 16 hours of CPE while covering an assortment of topics. And the best part is you are choosing from half-day courses, so you have lots of options! Register at

DECEMBER 15 The Most Common Financial Statement and Asset Fraud Schemes: How to Detect and Prevent Them Financial Forecasting: Planning for Success Accounting and Auditing Update Annual Federal Tax Update

NEW! The New Clarified Attestation Standards: What You Need to Know NEW! The New Controllership: Keys to Boosting Financial Performance Real-World Business Ethics for CPAs in A&A Reviewing Individual Tax Returns: What Are You Missing?

Make the most of your time.

December 15-16 • Ritz Charles, Carmel 2 Days • 16 Courses • 16 Hrs Professional Development

DECEMBER 16 Annual Update for Governments and Not-ForProfits Controller's Update: Today's Latest Trends Preparation, Compilation, and Review Engagements Update Practical Tax Tips and Techniques for Closely-Held Businesses

Not-for-Profit Organizations: Key Accounting and Reporting Considerations Real World Business Ethics for CPAs in Business and Industry NEW! Applying the Risk Assessment Standards to Enhance Audit Quality Smart Tax Planning Strategies for Individuals

Help recognize members who are outstanding in their profession! Submit your colleague, company or yourself for consideration for an INCPAS award. Categories include: • NEW Building Bridges to the Profession • NEW CPA Center of Excellence® • NEW Innovation • Advocacy • Community Service (up to five winners) • Emerging Leaders (up to five winners)

Nominate yourself or a colleague for an Indiana CPA Society award. Submit nominations by December 7 online at

Award recipients will be recognized at CPA Celebration on May 12, 2017.

FALL 2016


INCPAS News Accounting Today’s Top 100 Most Influential People For the second consecutive year, Indiana CPA Society President & CEO Gary Bolinger, CAE has been named as one of the Top 100 Most Influential People in Accounting by Accounting Today, the leading trade publication for the CPA profession.

Gary Bolinger, CAE

M. Darren Root, CPA, CITP, CGMA, president and CEO of Bloomington-based Root Works was also named to the list. Root is a former INCPAS Board member.

INCPAS President & CEO

Audited Financial Statements Available Audited financial statements for the period ending June 30, 2016, are available online at or you may request a copy by contacting: Jenny Norris, CPA, CGMA, vice president – finance, at (317) 726-5021 or


CPA IN Perspective

Show Off Your INCPAS Membership If you are a licensed CPA and a current member of the Society, you should have a membership certificate similar to the one shown here to hang on your office wall. If you have not already received a certificate from the Society and would like one, contact member services at (317) 726-5000 or 1-800-272-2054.

INCPAS INCLEMENT WEATHER CANCELLATION • Registrants will be contacted at their office during business hours and at home during non-business hours when an event is canceled due to inclement weather. • Registrants need to make sure INCPAS has their current contact information. • Registrants of events canceled due to inclement weather, may attend the rescheduled event or register for another event at the time of cancellation. • Registrants who are unable to attend the rescheduled event and are unable to register for another event will receive a full refund.

REGISTRANT INCLEMENT WEATHER CANCELLATION • Registrants who are unable to attend an event due to inclement weather must notify the Society the day of the scheduled event. • Cancellations will not be accepted before or after the event. • If the Society has not canceled the event no refunds will be issued, but registrants will receive a credit voucher valid for one year from the date of issue for another event of equal value.


Enhancing the CPA Designation Through Academics and Diversity

INCPAS SCHOLARS CLASS OF 2016-17 INCPAS Scholars are high-potential minority high school students with an interest in business and accounting and 2.5 GPA or higher. They participate in a free, year-long career awareness and mentoring program. Scholars meet once a month for educational/social activities such as campus visits, firm and company tours, dress and dines, and one-on-one meetings.

MEET THE SCHOLARS Thirty-two Scholars were selected out of a record 50+ applications this year. High schools represented in the Indianapolis program include Ben Davis, Nexus Academy of Indianapolis, North Central, Pike, Warren Central and Westfield. The South Bend area program includes Elkhart Memorial, Elkhart Central, South Bend Adams and South Bend Riley high schools.

INDIANAPOLIS-AREA SCHOLARS Adrianna, junior, Westfield University and major of interest: Ball State, Butler or Indiana – Accounting / Finance Looking forward to: I am just really excited to learn new things from my mentor and to get a full emersion in the CPA world. Alyssa, senior, Indianapolis University and major of interest: Indiana, University of Chicago, Spelman or University of Miami –Accounting, Entrepreneurship, Business and Finance Looking forward to: I am most looking forward to the new connections I will make with CPAs at different large firms and the information about CPAs that I will be exposed to! Anyah, junior, Indianapolis University and major of interest: Ball State, Butler, Spellman – Law or Accounting Looking forward to: Learning more about CPAs and how to

pursue this as my career! School/community involvement: Top 100, National Junior Honor Society, National Honor Society, President’s Education Award, Top 30 and volunteering for Principal Leadership Team, Miss Giants, Girls Inc., Church Youth Group, and Girl Center for Leadership Development Ashley, senior, Indianapolis University and major of interest: Georgia State or University of Georgia – Business Finance Looking forward to: Learning all the professional things about the business world and experience what it will be like in the corporate world. School/community involvement: Academic Honors, track captain Brittney, senior, Indianapolis University and major of interest: Ball State or Indiana – Business Looking forward to: I’m excited to be able to have a mentor for the first time, figure out the ins and outs of the CPA profession and to create a network. Also to be able to create a lifetime relationship.

Gabrielle, junior, Indianapolis University and major of interest: Purdue Finance Looking forward to: Learning more about the profession! Jaina, senior, Indianapolis University and major of interest: Purdue University, Ball State or Pepperdine Business or Education Looking forward to: Tours of the firms and just the program in general. School/community involvement: Peer tutor, president of National Honor Society, Connections Academy program guide, member of the College Planning Club and Poetry Corner Club, volunteer for Teen Works 360 and organizer of the Student Recycling Leadership Corps at her school, and Desmond Tutu Youth Fellow.

Jennifer, senior, Indianapolis University and major of interest: University of Indianapolis and Marian – Accounting Looking forward to: Meeting new people and getting an accounting experience. Kiara, junior, Indianapolis University and major of interest: IUPUI or Indiana – Business/Administration Looking forward to: Seeing how businesses are run! School/community involvement: Fourteen ribbons and two medals in ROTC program, member of Student Council, member of National Honor Society and Spanish Honor Society, and volunteer at local food pantry and Keep Indianapolis Beautiful. Kiavian, junior, Indianapolis University and major of interest: Business – Accounting Looking forward to: Learning something and being able to do what I want.

FALL 2016



Enhancing the CPA Designation Through Academics and Diversity

Makayla, senior, Indianapolis University of interest: IUPUI, Butler or Ball State Looking forward to: Exploring the CPA profession and determining for sure what I will be majoring in. Miante, junior, Indianapolis University of interest: Central State or Ball State – Financial Manager, CPA Looking forward to: How it's all put together. Reagan, junior, Indianapolis University and major of interest: IUPUI, Indiana or Marian – Accounting and Human Resources Looking forward to: New experiences! Sydney, senior, Indianapolis University and major of interest: IUPUI, Purdue or Indiana – Business Management, Accounting Looking forward to: Expanding my views about the accounting field. I'm getting closer to graduation and life is really beginning to start for me, so it's time to really get serious about this profession that intrigues me. Jeremy, senior, Indianapolis University and major of interest: Indiana University – Business Looking forward to: Learning more about the business world and how it works. SIBLING SCHOLARS: We’ve had several siblings of former Scholars become Scholars themselves. This year alone, three Scholars are following in the footsteps of their older sisters and brother. • Lamyaa’s sister, Noor, was in the program in 2015 and is currently a freshman at Indiana University. • Brandon’s sister, Elenna, was in the program in 2015 and is currently a freshman at Indiana University. • Josue’s brother, Normando, was in the program in 2012 and is currently a senior at Butler.


CPA IN Perspective

Tyree, senior, Indianapolis University and major of interest: Ball State, Ohio State, Purdue – Accounting, Business Administration Looking forward to: Learning something new and meeting new people. Business is a very important field to me.

Sandro, senior, Indianapolis University and major of interest: Indiana or IUPUI – Accounting / CPA Looking forward to: Learning how I can pursue my career better, and how we get to meet people that can advise us!

Hengly, senior, Westfield University and major of interest: Indiana University - Business Management Looking forward to: Seeing CPAs in action!

Shase, junior, Indianapolis University and major of interest: Accounting Looking forward to: I want to learn what CPAs do on a regular day

Josue, senior, Westfield University and major of interest: Marian, Butler or Ball State – Accounting Looking forward to: Having a mentor and learning as much as I can about my future career options.

Jesus, senior, Westfield University and major of interest: IUPUI, Indiana or Ball State – Accounting Looking forward to: The ins and outs of the CPA. School/community involvement: National Honors Society, Spanish Honors Society, Honor Roll, volunteer at church and nature center

Landis, junior, Indianapolis University and major of interest: Notre Dame – Business Looking forward to: The mentorship the program provides.

Luis, sophomore, Westfield University and major of interest: Indiana - Accounting Looking forward to: I’m looking forward to some hands on experience. I am also excited to hear how the CPAs got to where they are now. I am also excited to learn more information in general about accounting.

Brandon, junior, Westfield University and major of interest: Indiana University and Purdue University Finance/ Accounting Looking forward to: Getting experience in the field for accounting and business.

SPONSORS Indiana CPA organizations have the unique opportunity to partner with INCPAS and collectively support diversity initiatives that benefit the CPA profession in Indiana. By utilizing the talents/ experiences of Indiana CPAs in programming aimed at recruiting and retaining minority students into the CPA profession, Indiana has become a national leader in the profession’s diversity efforts. BGBC Partners, LLP

Indiana University


Indiana University South Bend

PricewaterhouseCoopers, LLP

Blue & Co., LLC

Indiana Wesleyan University

Rodefer Moss & Co., PLLC

CliftonLarsonAllen LLP



Crowe Horwath LLP

Kruggel Lawton CPAs

Sikich LLP

Deloitte LLP

OneAmerica Financial Partners

Swartz Retson & Co.

Eli Lilly and Company Engaging Solutions LLC

Purdue University

University of Indianapolis

Indiana State University

Umbaugh Whittaker & Co.

SOUTH BEND-AREA SCHOLARS Ana, junior, Elkhart University and major of interest: Looking forward to: School/community involvement: Antonio, junior, Elkhart University and major of interest: Goshen or Indiana – Accounting Looking forward to: I’m looking forward to learning about the work experiences of CPAs and how the work environment is. School/community involvement: Chess Club vice president, captain of my travel soccer team, helped with the “Kickin’ It for Riley” fundraiser Carlos, senior, Elkhart University and major of interest: University of Indianapolis – Accounting / CPA Looking forward to: Learning more about auditing. Ethan, junior, Elkhart University and major of interest: Northwood, IUPUI, Tulane, Indiana or Purdue - Accounting, Engineering Looking forward to: Visiting the CPAs offices. School/community involvement: High school and travel soccer, learning to coach youth soccer Gisella, senior, South Bend University and major of interest: Notre Dame, University of Chicago or St. Mary’s – Accounting, Political Science Looking forward to: Further establishing a relationship with my mentor in order to learn more about the profession and also looking forward to spending time with people that have similar aspirations to mine. School/community involvement: National Honors Society secretary, International Student Organization, high

school tennis team, community volunteer, Tierra Viva Mexican Folklore Dance Group, and leadership awards for TRiO Upward Bound program at the University of Notre Dame. Thai, senior, Mishawaka University and major of interest: University of Indianapolis – Accounting and Finance Looking forward to: Learning about the CPA profession from my mentor.

SCHOLAR SPOTLIGHTS Lamyaa, senior, South Bend University and major of interest: Purdue, Indiana, Butler, IUPUI, NYU – Undecided/Exploring Looking forward to: Actually finding what the CPA profession is all about. I am excited to learn more about my possible career path! School/community involvement: National Honors Society, community service since 3rd grade and over 100 service hours since 2014, received recognition for work with Islamic Society of Michiana, volunteer at the Notre Dame Center for Arts & Culture, treasurer of the local mosque youth group, event planner for the International Student Organization and member of the Upward Bound/TRIO program.

TAKE ACTION! Support diversity and inclusion initiatives. You can support the Society’s programs or your organization can help sponsor the Scholars by contacting Director – Diversity & Outreach Ali Paul at (317) 726-5025 or

Tess, senior, Mishawaka University and major of interest: Notre Dame, Indiana or Penn – Finance, Accounting, Mathematics Looking forward to: Learning more about becoming an accountant. School/community involvement: A gold and two silver medals with the school’s Science Olympiad team, finalist for Team America Rocketry Challenge, award for outstanding achievement for Career Technical program, participation in Student Council, TARC, Drama and Color Guard, volunteering for singing at local senior centers, and performing family services at church.

FALL 2016



Enhancing the CPA Designation Through Academics and Diversity

MEET THE MENTORS Scholar mentors attend at least three of the monthly events held during the program year, in addition to keeping in touch with each of their Scholars and having one-on-one meetings. INDIANAPOLIS SCHOLAR MENTORS Allison Bayley, CPA, H.J. Umbaugh & Associates Sam Brookwalter, CliftonLarsonAllen LLP Sarah Cross, CPA, CliftonLarsonAllen LLP Pati Doi, Deloitte LLP Elayna Dorsey, Deloitte LLP Jessica Eckerle, H.J. Umbaugh & Associates Chris Fliehman, Sikich LLP Gavin Fox, CPA, Blue & Co., LLC Nathan Fox, CPA, BKD LLP Evelyn Gil, Eli Lilly and Company Annie Hagan, CPA, BGBC Partners LLP Elizabeth Hale, OneAmerica Jill Hanson, CPA, Blue & Co., LLC Sarah Hoeing, PwC Brendan Howell, PwC Morgan Johnson, CPA, RSM US LLP Sam Jones, CPA, Engaging Solutions Katie Lauck, KPMG Cristina Martinez, BGBC Jennie McMaster, KPMG Wade Markley, Crowe Horwath LLP Sinan Ozezer, CPA, Eli Lilly and Company Mitch Pletcher, CPA, Crowe Horwath LLP Matt Svenstrup, OneAmerica SOUTH BEND SCHOLAR MENTORS Amy Cline, CPA, Whirlpool Dean Efantis, Crowe Horwath LLP Courtney Grimske, RSM US LLP Jordan Hesters, Kruggel Lawton CPAs Michele Reed, Kruggel Lawton CPAs Pooja Shrestha, CPA, H.J. Umbaugh & Associates Michael Stalter, RSM US LLP Rachelle Yoder, CPA, Crowe Horwath LLP


CPA IN Perspective

ALUMNI INCPAS SCHOLARS WORKSHOP The annual Alumni INCPAS Workshop in August serves as a kick-off for the upcoming school year for graduating Scholars and Scholar alumni. This daylong workshop followed by a reception at the Indiana Historical Society in downtown Indianapolis gives all Scholars, their mentors and guest speakers a chance to learn from and network with each other. Among this year’s hot topics and helpful hints: • Your Career in College – Alex Anglin, CPA, Eli Lilly and Company • Making the Most Out of Your Professional Experience – Sherry Davis, CPA, CGMA, Eli Lilly and Company • Top 10 Mistakes While in College – Darren Henry, Purdue University

• Young CPA Panel Discussion – Aaron Akanlu, CPA, EY, Will Clinkscales, PwC and former Scholar, Nathan Fox, CPA, BKD • Dealing with Unexpected Roadblocks – Zenai Brooks, Greenwalt CPAs and Caleb Williams, BCBG Partners • Standing Out during a Recruitment Event – Karen Wagner, RSM LLP


Advocating for Members

Ethics Only A Phone Call Away The Ethics Committee is always available to help members. Every year, the ethics committee takes a wide variety of calls from members. Some seeking advice on how to deal with an issue with potential ethics implications, some seeking guidance on how to get help with an issue with another CPA who is doing something possibly unethical, and some just not sure who to call for advice, so they start with the ethics hotline. Some of the more common calls the committee gets deal with independence. Questions like “If our firm provides temporary controller services to a NFP client who is also an audit client, does this create an independence issue?” For this question, in most cases it likely would, but it would be dependent on the exact services being provided. Another common area is confidentiality. “If my firm is in the process of being purchased by another firm, are we allowed to allow the purchasing firm access to our client files?” In this case, as long as there is a confidentiality agreement in place, the sharing of client files would not violate the code of professional conduct. Client records are another area that draw a large number of inquiries. “In what format am I required to turn over depreciation files? Is

it okay to only give a paper copy, or do I have to provide it electronically?” Client-requested work papers should be provided in the format requested, so long as the records are available in that format. Questions also arise relative to providing client records when the client requests records and there are unpaid fees. In those situations, client-provided records must be provided to the client regardless of the unpaid fees, but member prepared records may be withheld as long as there are unpaid fees. Members should also review state statutes and regulations relative to member records, as different states can have different rules than the code of professional conduct. Members in industry call the Ethics hotline, too. Calls range from issues related to fraud found in an organization and how to proceed, to an employer pressuring the staff accountant

By INCPAS VP – Finance Jenny Norris, CPA, CGMA

to make improper journal entries. The committee offers guidance as to how to proceed and often recommends to the caller to seek advice from legal counsel as well. Another industry issue arose when an employee refused to make inappropriate journal entries that the employer requested. The employee was fired for refusing and was seeking new employment. The member wanted advice relative to what to say in job interviews about why they left their previous job. The committee advised the member that per the code of professional conduct, it would be a violation to disclose confidential information about the previous employer. Some of the issues the committee receives calls on are easy to answer, but some are quite difficult or have a lot of “gray area” in the situation, so they require thoughtful response. The committee works hard to talk members through any ethical issue, and when the question falls outside of the scope of the code of professional conduct, the committee offers alternatives for help, whether it means contacting legal counsel for advice, the Attorney General’s office, AICPAs Ethics Hotline or some other source. Call us at 1-800-272-2054.


DOR responds with guidance on double taxation

Society comments for DOR at annual public hearing

On behalf of members, INCPAS worked with Commissioner Kossack and DOR to provide guidance explaining the state's position for the application of the Supreme Court's decision on Comptroller of Maryland vs. Wynne in Indiana. While the state is not inclined to change their interpretation of the decision relative to Indiana's tax code, we do appreciate having their position outlined in Commissioner's Directive #57.

INCPAS Tax Resource Advisory Council chair Kyle Simmerman, CPA, presented comments at the annual public hearing on June 21. The issues addressed included online electronic filing for all entities, clarification for residency issues for the non-filer program, expansion of INtax capabilities, an Integrated Tax System, improved approach to collections, enhanced data and ID security, and more.

Why it matters: Members need to know Indiana’s position in order to best advise clients.

Why it matters: The public hearing presents INCPAS with a chance to speak on behalf of members about issues they have identified with IDOR.

New Tax Practitioners Hotline for collections; instructions and processes After its May meeting with the INCPAS Tax Resource Advisory Council regarding improving its collections process and communications, DOR has added a new feature to its Tax Practitioner Hotline. You can now call 1-800-462-6320 and enter 4367 or (317) 233-4017 and select option 3 for collections; enter in your client's TID or SSN; and then be connected with a collections analyst to immediately determine whether a tax warrant can be recalled. “Tax Practitioners have communicated they often are engaged by a taxpayer in the 11th hour of the collection process, and tax practitioners are not able to introduce a pause,” said TRAC Chair Kyle Simmerman, CPA. “This new system is designed for this very reason – to give you time to assist your client on an outstanding liability that is moving through the collection process.” Why it matters: INCPAS members should see a significant improvement in the ability to work with the Department of Revenue on collections matters that require immediate attention.

FALL 2016



Advocating for Members


INCPAS supports the Overtime Reform and Enhancement Act for H.R. 5813 INCPAS sent letters to Indiana’s U.S Congressional representatives encouraging their co-sponsorship of this proposed act, which would establish a gradual implementation schedule for the Department of Labor (DOL) final overtime rule. Specifically, the rule would increase the salary threshold over three years so as to help businesses make the best decisions for the future good of their employees and business. Why it matters: This gives employers three years instead of only six months to assess the impact of and implement the new salary threshold that is twice as high as the current threshold.


INCPAS is monitoring two rules from the most recent legislative session 1) Peer Review – HEA 1272. The BoA is drafting proposed rules to implement access to peer review results for BoA members. Why it matters: Indiana is one of only nine states where the BoA can’t access the national database to see Peer Review results. 2) Military Spouses – SEA 219. Expediting licenses for spouses. This is required to have a rulemaking to implement the process. Why it matters: If military spouses meet Indiana qualifications this will allow an expedited application process for any type of professional license.

New Public Member Keaton J. Miller, associate corporate counsel, Old National Bancorp, Evansville, is the new public member of the BOA. Miller has an MBA from the Indiana University Kelley School of Business, a JD from the Indiana University Robert H. McKinney School of Law,


CPA IN Perspective

and undergraduate degree in finance and international business from the Kelley School of Business. Prior to Old National Bancorp, he worked as a loan review consultant BKD, LLP.


Candidate contributions The trustees approved the final round of contributions on September 22. The breakout of $59,500 in contributions is as follows: House Democrats: $11,000 House Republicans $27,500 Senate Democrats $4,500 Senate Republicans: $16,500

Campaign update; member support is needed At $42,353, the PAC is 85 percent of the way to the annual goal and up 79 in contributing members from this time last year. If you haven’t already, be sure to make your PAC contribution at Why it matters: As the only political action committee representing CPAs in Indiana, the Indiana CPA-PAC supports elected officials to ensure they understand issues that are important to you and your business before key decisions are made.


The Financial CHOICE Act legislation This bill was presented on June, 7, 2016, as a reformation of the current Dodd-Frank Act. Key issues to be addressed include: overthe-counter derivatives, private fund adviser registration, credit rating agencies, securitization requirements, interchange fees, executive compensation and corporate governance, and conflict minerals, among others. Why it matters: This would improve and simplify some of the more complicated current provisions of Dodd-Frank.

AICPA's State Policy Priorities Task Force is Setting 2017 Agendas of States A task force made up of state society representatives, AICPA staff and The Accountants Coalition assess the state and local legislative

and regulatory environments to set priorities for advocacy efforts annually. Current priorities include: definition of attest, firm mobility, tax on professional services, CPE mobility, diversity and inclusion, CGMA and UAA.

Society response to AICPA & NASBA CPE Standards Exposure Draft INCPAS commented expressing disappointment at the lack of real change or innovation in the professional development model. “There’s all kinds of discussion about alternatives to the model,” says INCPAS President & CEO, Gary Bolinger, CAE. “In addition to blended learning, there’s adaptive learning, self-directed learning, competency-based learning and on-the-job training to name a few. The profession needs to take the lead here. If blending formal and informal learning is solvable in higher education, it certainly must be solvable for a profession that has built much of its reputation on problem solving.” The new CPE standards will not go into effect in Indiana unless the Indiana Board of Accountancy begins rulemaking to adopt them. Why it matters: CPAs have to have access to high-quality, flexible learning options to keep pace with today’s competitive business environment.


Failed Peer Review reports The Peer Review Oversight Committee met on August 18, 2016. Three failed peer reviews were on the agenda, two of which were sent to the Attorney General’s office for further investigation. The next meeting is scheduled for November 29, 2016. Why it matters: Failed peer reviews have potential ramifications beyond the remedial action assigned by the PROC. The Board of Accountancy looks very seriously at failed peer reviews – repeated failure by a firm could impact its ability to practice in the future. Currently, the most serious action taken has been to put a firm on probation and imposition of fines.


COLLECTIONS TAX PRACTITIONER HOTLINE As of August 1, the Indiana Department of Revenue Tax Practitioner Hotline began offering a new feature to provide practitioners the ability to address time-sensitive collection matters. This new feature is a response to feedback from multiple tax practitioners who expressed a desire to pause the collections process while the practitioner works with the department to resolve a collections liability. The new feature of the Tax Practitioner Hotline is a process which allows a practitioner to notify the department of their involvement on the taxpayer’s behalf and gives them an opportunity to understand the tax matter and assist with resolving it. Below is a description of the process: 1. Tax practitioner calls the hotline at 800462-6320 (enter 4367) or 317-233-4017. 2. Select option 3 for Collections 3. Enter the TID or SSN. 4. Confirm the TID or SSN. 5. Once in the collections gate, the tax practitioner is connected with a collections analyst. 6. The tax practitioner provides the analyst with a short description of the collection matter and confirms they have a POA on file with the department for the appropriate tax type(s) and year(s). 7. The analyst places a 45-day hold on the liability and recalls the tax warrant. 8. If the liability has staged to a tax warrant, the analyst contacts the sheriff or Premiere and asks that all collection efforts are ceased, including releasing all levies and garnishments.

9. Finally, the analyst generates a liability spreadsheet and emails this report to the tax practitioner confirming all collection efforts are paused. 10. The tax practitioner is required to communicate a resolution plan back to the department within 14 days. 11. The department expects payment arrangements to be made within 30 days.

COLLECTIONS DIVISION REORGANIZATION The department recently implemented a new strategic approach for its collections functions. At the end of August 2016, the Collections Division, as an organized element of the department, was reorganized. The individual sections of the former Collections Division are now subdivisions of the Tax Administration, Enforcement, and Legal Divisions. The Bankruptcy Section is now a part of the Legal Division. This is intended to take advantage of key synergies between these groups. The department’s Tax Administration Division now includes the Inbound Collections and Title and Licensing sections. Both sections will continue to operate with their existing missions. Formerly, two distinct call centers operated within Tax Administration and the Collections Division. Those call centers are now merged into one group that can focus on responding to taxpayers questions and requests. Finally, the Enforcement Division now includes three sections of Collections: Outbound Call Operations; Field Agents; and Clerks, Agencies and Sheriffs. Again, the same functions will continue within the Enforcement Division, which will focus on proactively encouraging voluntary compliance at

all stages of the enforcement and collections processes. This organizational change is a logical move that will help the department become more effective, efficient, and responsive to taxpayer and practitioner needs. Additionally, it will help prepare the department for the continued modernization of our systems. The reorganization of the Collections Division does not impact the availability of the new collections feature on the tax practitioner hotline.

INBIZ The Indiana Department of Revenue and Department of Workforce Development portions of INBiz launched August 25, 2016. The Secretary of State portion of INBiz launched in April. The INBiz application allows users to conveniently and efficiently do business with multiple state agencies. The Indiana Department of Revenue portion of INBiz allows businesses to register with the department and to add a tax type or new location for an existing business. Once registered through INBiz, businesses can use INtax to file and pay most Indiana taxes. Partnerships with multiple agencies through programs like INBiz benefit all Hoosier businesses. INBiz simplifies the business registration process by allowing a business to register with multiple state agencies through a single website. Continued improvements are planned for INBiz in the months and years to come. As always, we appreciate all you do to serve taxpayers and look forward to continuing to partner with you.

INTRODUCING NEW IDOR COMMISSIONER CHRIS ATKINS Commissioner Chris Atkins joined the department in October, when Commissioner Kossack left the state's employment. Atkins was previously the chief innovation officer at Mainstreet, a national company specializing in real estate development, value investments and health care. Prior to being named CIO, Atkins

was Mainstreet’s senior vice president for corporate strategy and analytics. In addition, Atkins served as director of the Indiana Office of Management and Budget from January 2013 to June 2015; senior policy director for Mike Pence for Indiana from July 2011 to January 2013, and general counsel and policy director of OMB from November 2007 to July 2011. Atkins also served as senior tax counsel and director of state fiscal projects

for the Tax Foundation and director of tax and fiscal policy for the American Legislative Exchange Council. Atkins earned his B.A. from Wabash College, his J.D. from the Indiana University Robert H. McKinney School of Law, and his Master of Public Administration from the Indiana University School of Public and Environmental Affairs. He is a native Hoosier who resides with his wife, daughter and two sons.

FALL 2016



Advocating for Members

DWD COMMISSIONER’S CORNER By Steven J. Braun Indiana became a leader in business services a decade ago when it first offered online filing for businesses. Today, the state is further modernizing its filing system with the launch of INbiz. The one-stop resource enables business owners and entrepreneurs to file forms and documents seamlessly across state agencies offering business services. Please discuss with your company and clients the ways INbiz can streamline registration and filing services that enable employers to focus efforts on growing their business rather than cutting through red tape. In another effort of modernization, DWD is further in the development of the demand driven workforce system, which is a transformation of operational configuration that enables DWD to broadly and deeply engage workforce stakeholders through gathering input, information, data, and insights. Ultimately, stakeholders will be able to utilize services and information to align decisions, actions, and resources to advance workforce outcomes. Benefits for businesses include free/affordable skill-assessment tools and professional development opportunities; relevant, recent workforce data to inform

I Give Because...

“I give to make sure my voice is heard when key decisions are made. If you don't have a seat at the table, then you're probably on the menu.” - Erland Porter, CPA


CPA IN Perspective

growth, expansion and relocation opportunities; and education and training programs that meet current and future needs of employers. These tools should be available for business to use in the spring of 2017. We know that education and training are crucial to preparing the future workforce, which is why DWD has granted $11 million in Skill UP Indiana! grants to community partnerships to develop training and education programs that align to employer needs – specifically in the STEM and advanced manufacturing sectors. One such career partnership, the JA Career Success Initiative, will support experiential learning programs for K-12th grade students across multiple sectors, including business and finance. The program will prepare students for careers of the future by creating a talent pipeline to fill the potential talent shortage facing Indiana communities. Collaborative workforce efforts like these on the local, regional and statewide levels are reasons why Indiana is recognized as one of the most business-friendly states in the nation. For its part, DWD will continue to engage employers and use your feedback and recommendations as guiding principles for its new organizational framework. The ultimate goal is to develop new technologies, programs and initiatives that best support and serve Hoosier businesses.


Upholding Integrity

Your Leadership, Upholding Integrity INCPAS leadership groups work hard to enhance the value of your CPA designation and facilitate your access to the resources that are important for you as a professional. BOARD OF DIRECTORS The board met on August 24 and September 27, and held a brief meeting on November 8 during the board retreat. Among items of discussion at the August meeting were the rule changes being acted on by the Board of Accountancy, board goals for the year, discussion of the bold challenge that states INCPAS and our members become the most trusted resource in Indiana, and a new agenda item called In the News in which recent news impacting the profession was analyzed. Topics covered at the September meeting included the Society’s preliminary legislative agenda, the peer review of the future, updates on the CPA Center of Excellence® and the Society’s insurance program, deliverables for the board retreat, and partial evaluation results from the Professional Issues Updates. For more information on the INCPAS Board of Directors, contact Gary Bolinger, CAE

BOARD TASK FORCES The three board-level task forces for 2015-16 have continued to meet in person and via conference call since June. The task force chairs are the Society’s three vice chairs – Jennifer Knecht, CPA, Leadership Development Task Force, Tom Wadelton, CPA, CGMA, Innovation Task Force, and Erland Porter, CPA, CGMA Strategy Task Force. The Leadership Development Task Force considered the role INCPAS should play in developing leaders, and differences between developing leaders for INCPAS compared to the profession, firms and companies, and members’ communities. The task force believes the Society needs to have a vibrant leadership development program with multiple learning mechanisms to develop leadership skills, as well as tracking for assessment and measuring progress. It will identify future leaders and select leaders who meet leadership potential criteria. The Innovation Task Force has addressed ways in which the Society and individual CPAs can innovate. CPAs traditionally have not

identified themselves as being innovative, but it is an attribute that is increasingly important to meet client and employer needs as well as to operate within a rapidly changing global marketplace. The group has looked at different types of innovation, including disruptive innovation, and has developed a list of possible solutions divided into three categories: education, information and collaboration. The CGMA Task Force has reviewed the options and materials related to the planned expansion of the CGMA designation to nonCPAs in the spring of 2017. The group has considered how it fits within the structure of INCPAS, the membership implications, projected costs and revenues, and member messaging. At a high level the task force has identified threats and opportunities, outlined the values and strategy driving change, developed a powerful rationale for change, and developed personas to project interest levels at various stages. For more information on the Board Task Forces, contact Jennifer Briggs, CAE

INCPAS LEADERSHIP CABINET AND EMERGING LEADERS ALLIANCE The INCPAS Leadership Cabinet and Emerging Leaders Alliance met on October 27-28 at the Marriott North in Indianapolis. Eduardo Jordan, CPA, of Spa Girl Cocktails spoke on the evolving role of the CPA/CFO, Lou Belch and Abdul Hakim-Shabazz provided insight to the November elections, and Allison Manswell, CPLP of Cook Ross presented on unconscious bias. The emphasis of the meeting was on having fewer presentations and deeper conversations. A new session had members discuss the to-do’s they had accomplished since the spring meeting. A session titled Unconscious Bias focused on diversity and inclusion. The board task force reports and discussions followed a new format, in which LC/ELA members were able to trade assigned topics and go to individual rooms for reports and discussion about one task force instead of listening to all three reports first. For more information on

LC/ELA, contact Jennifer Briggs, CAE

DIVERSITY ADVISORY COUNCIL The Diversity Advisory Council met in October. The council’s work over the summer resulted in 32 students being chosen for the INCPAS Scholars program this year, the most since the program began in 2010. Eight are from South Bend and 24 are from Indianapolis. The Game On: CPAs in Action event in Indianapolis was held on September 29. More than 100 Indianapolis area high school students attended. In October, the Indianapolis Scholars took a trip to Purdue University and the South Bend Scholars at Krompf Industries and Logan Community Resources. In November, both groups had College Night events. For more information on the INCPAS Diversity Advisory Council, contact Ali Paul

ADVOCACY COUNCIL The new Advocacy Council met on October 13. The group took a high-level look at how our advocacy efforts have evolved. They discussed what role the Society will play in expanding advocacy issues in areas such as business, tax and licensing. They also recommended that INCPAS maintain a strong advocacy team of engaged members. For more information on AC, contact Sherrill Rude, CAE srude@

TAX RESOURCE ADVISORY COUNCIL TRAC met on October 4. Members met with recently appointed Commissioner Chris Atkins and Senior DOR staff. The group discussed draft guidance regarding the Lowe’s case. Members also met with the Society’s lobbyist discussing INCPAS’ legislative agenda and potential tax legislation for 2017. For more information on TRAC, contact Sherrill Rude, CAE Continued on page 39...

FALL 2016




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514 service


completed since 2003

6,566 participants since 2003




This year, 465 people participated at 41 locations in 19 cities

5 Most frequented service locations: Food pantries, housing builds and landscaping projects

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CPA IN Perspective

INCPAS was the first state CPA society to organize a Day of Service





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ON THE OPPOSITE PAGE: 1. Insight Accounting Group - Potawatomi Conservatory; 2. RBSK Partners at Decatur County Hospital Foundation; 3. Sikich LLP at Coburn Place Safe Haven; 4. mAccounting at Second Helpings; 5. BMV Valuations at Northwest Indiana Cancer Kids Foundation; 6. London Witte Group at Keep Indianapolis Beautiful; 7. Sherck, Hussey, Johnson & McNaughton, LLC at St. Mary's Child Center; 8. Marian University and The Watermark Group at Flanner House; 9. Alerding CPA Group at Growing Places Indy ON THIS PAGE: 1. Brown, Smith & Settle, LLC., at The Salvation Army of Evansville, Vanderburgh Humane Society and Holly's House; 2. Heath CPAs at Natalie's Second Chance; 3. McMahon & Associates CPAs, P.C. at Haven House; 4. Blue & Co. LLC at Wheeler Mission; 5. Kemper CPA Group at Terre Haute Children's Museum; 6. Girardot, Strach & Co. at Food Finders Food Bank, Inc.; 7. Somerset CPAs, P.C. at Outreach, Inc.; 8. BGBC Partners, LLP at Rebuilding the Wall, Inc.; 9. CliftonLarsonAllen LLP at TherAPlay; 10. L.M. Henderson & Co. PC at FAME Partnering in Medical Evangelism; 11. Geer CPA & Consulting PC at World Harvest Bible College; 12. Indiana Wesleyan University at St. Martin Community Center; 13. Grace College Advanced Accounting Class at Habitat for Humanity Kosciusko County


7 FALL 2016



National Recognition for By Dave Shatkowski, INCPAS Vice President Communications We’ve been telling you about the benefits and value of the CPA Center of Excellence® since 2014. There are a lot of great things being done by the Center including ground-breaking work in the areas of competency-based learning, talent management and intelligent collaboration. And it’s not just us tooting our own horn. Others have noticed and they’re saying the same things. On October 5, the Indiana CPA Society received a prestigious Power of A Summit Award from the American Society of Association Executives for its CPA Center of Excellence®. The award was presented at the annual Power of A – Summit Awards Dinner held at the National Building Museum in Washington, D.C. More than 1,000 people attended. The Summit Award is the highest honor that ASAE bestows on the association community each year. Only six Power of A awards are given. The award dates back to 2000. INCPAS is the first state CPA society to win a Summit Award and only the second accounting association (the AICPA won two in 2004 and ’05). A record 147 nominations were received by ASAE in 2016 for all categories. The other five Summit Award winners are all national associations – the American College of Chest Physicians, the American Counseling Association, the Association for Corporate Growth, the National Association of State Boating Law Administrators and the Public Library Association. Some other past recipients have included the Military Officers Association of America, the Emergency Nurses Association and the Society for Neuroscience. And now add to that the Indiana CPA Society and the CPA Center of Excellence®. That’s some impressive company to be in.


CPA IN Perspective


According to ASAE, the Power of A awards “showcase how associations leverage their unique resources to solve problems, advance industry/professional performance, kick start innovation and improve world conditions. Associations are involved in activities every day that make a substantial, positive impact on our lives.” And the Summit Awards are the best of the best. The Center was nominated in the ‘Power to Prepare for the Future’ category, which recognizes associations that are helping members prepare for the future and are addressing critical factors facing the industry or profession. As we’ve been telling you over the last two and a half years, the CPA Center of Excellence® is doing all of that and more. It is a comprehensive initiative created to better prepare CPAs for the opportunities and challenges of the future. It has developed new assessment and learning opportunities for the vital business or employability skills that will set CPAs and other professionals apart from colleagues and ensure their continued relevance as more accounting and finance functions become automated. The Society’s President and CEO Gary Bolinger, CAE said the following: “we’re pleased and honored to receive such esteemed national recognition for our efforts

to enhance skills, advance careers, and add greater value to clients and employers. As CPAs, they’re already proficient with their technical knowledge. The CPA Center of Excellence® enables them to develop the all-important business skills they need to succeed in today’s complex and challenging business environment.” The award recognizes the CPA Center of Excellence®’s emphasis on competency-based learning, a concept much different than the current hours-based model used by the CPA profession for decades that only measures time spent in class – not actual learning or retention of subject materials. As part of its innovative approach, it has also offered digital badges upon completion of online course modules for more than two years; a first for the CPA profession. “Professional development that is both adaptive and social is critical to the future of work,” said CPA Center of Excellence® Strategist Jess Halverson Bowyer about the courses. “They are designed to ensure we don’t learn in isolation … that we still collaborate and share knowledge.”

The Indiana CPA Society earned a 2016 ASAE Power of A Summit Award for its CPA Center of Excellence®, an initiative to better prepare CPAs for the opportunities and challenges of the future. “The Center of Excellence is transforming the professional development model of the CPA profession to a competency-based approach that is designed to meet the learning and development needs of individual professionals and increase their value to clients and employers,” said INCPAS President & CEO Gary Bolinger, CAE. “As a result, CPAs will be better prepared and positioned to respond to the emergent and dynamic business world of the future.” ASAE honored INCPAS’ CPA Center of Excellence® for helping CPAs cultivate vital business skills to ensure their relevance as more accounting and finance functions become automated. In 2014, Indiana became the first state to allow competency-based courses to be accepted for a waiver of continuing professional education for CPAs, which is the only program of its kind in the country. In 2016, the Indiana Board of Accountancy and Gov. Pence made history by approving competency- and experience-based ethics to count toward license renewal – the first significant change to the hours-based CPE model in nearly 50 years. In addition to the online courses, the comprehensive CPA Center of Excellence® tools include a self- and 360-assessment toolkit, handbook on vital business skills, a members-only online community for collaboration, and a Talent Academy for innovative strategies in human resources and talent development. For its ingenuity, collaboration and focus on the future, INCPAS was awarded a 2016 ASAE Summit Award which recognizes the association community’s valuable contributions on the local, national and global level. ASAE’s Power of A (association) Awards, the industry’s highest honor, reward outstanding accomplishments of associations and industry professionals for their efforts to enrich lives, create a competitive workforce, prepare society for the future, drive innovation and make a better world. Congratulations and thank you to INCPAS for exemplifying how associations make a difference every day to society at large.

FALL 2016




By Kevin L. Mabry, MBA Sentree Systems, Corp.



As a CPA, you serve as a trusted advisor for your clients; and because you help manage the most intimate details of your clients' business or personal finances, they often look to you as a role model for how to manage their assets. The weight of this earned responsibility and trust is why social engineering fraud - a form of internet-based identity hacking - can be a such a danger within the financial services industry. CPAs are an attractive target for hackers because they have access to large quantities of highly confidential information. When fraud strikes you or your customers, your ability to serve and protect their financial wellbeing is instantly diminished. This hurts both you and your clients. Social engineering is a growing risk that can expose your customers to identity theft, loss of assets, and other criminal activities. We'll help you protect your customers and your business in this overview of how social engineering fraud takes place, signs to look for when you suspect you might be a victim, and how to educate your team and your customers to avoid unnecessary risks. SOCIAL ENGINEERING FRAUD 101: KNOW WHAT YOU'RE DEALING WITH Social engineering fraud has been a steadily growing issue as the general consumer population has begun sharing more and more hyper-private data online. Customers routinely send their social security numbers, bank account information, addresses, and contact information over the internet to banks, peer-to-peer payment apps, e-commerce vendors, utilities companies ... and even their CPAs. And internet criminals know this. In most cases, internet and email encryption tools provide the first line of defense against hackers who might want


CPA IN Perspective

to skim this information from the websites or the apps themselves. Unfortunately, these individuals use another way to get this same information through a lot less work: social engineering fraud. Social engineering is a type of scam in which would-be criminals pose as a trusted advisor or website while using social and psychological cues to convince customers to share information they wouldn't otherwise expose. For example, a hacker might send targeted emails that look like they came from your accounting firm, advising customers to enter their social security and tax information because there is a problem with their account that requires immediate and urgent attention.

Because the email leverages customers' fear that something might be wrong with their finances and looks like correspondences they have already received from your firm, victims are more likely to overlook red flags and minor inconsistencies that would signal the possibility of fraudulent activity. Through this process, victims may willingly expose their passwords and private information, immediately opening them up to the possibility of identity theft.

KNOWLEDGE IS POWER: RECOGNIZING SIGNS OF SOCIAL ENGINEERING FRAUD Knowing the common tricks and tools hackers use to target private information is one of your best defenses against social engineering fraud. It's important to educate your team members, yourself, and your customers to fend off these ubiquitous criminals. We recommend including a brief overview of social engineering fraud every time you begin a new relationship with a client and sharing periodic updates about the latest scams trolling the internet. This helps keep your team up to date and alert, while providing additional value to your clients and reaffirming their trust in you and your firm. The most frequent types of social engineering fraud are:

• PHISHING SCAMS - Phishing is a type of social engineering fraud in which hackers pose as a trusted advisor and asks for information directly as if they were one of your team members. Their hope is to get customers to hand over more and more information before they suspect a problem. This was one of the first and most popular forms of social engineering when email became a mainstream consumer communication tool in the late 1990s. The scam always follows the same pattern. Victims receive correspondence from a hacker saying they are an Accountant or executor who needs their information for a variety of bogus reasons, such as an estate settlement, lottery winnings, or business opportunities. Customers will then start out by sending their name and account number, and as the conversation continues, may choose to divulge more information. This is a particularly successful tool because customers believe they are talking to a real person who has their best interest. Protect your customers by introducing them to everyone on your team who will be handling their account and confirming the people who may contact them. • FRAUDULENT EMAILS AND WEBSITES — Many times hackers pose as an institution or business. This is one of the easiest ways to trigger social engineering fraud because when a victim receives an email from an eBay, PayPal, accounting or bank imposter asking them to log into their account to update their information or read an important message, many consumers don't think twice about the possibility of fraud. Encourage your customers to only log in to their accounts via a direct link (i.e., vs. clicking a link in an email that may open a fake landing page). Similarly, teach your customers what types of email correspondences do and do not come from your firm and

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team. If, for example, your company would never ask for an accounting document or sensitive data over the internet, advise your customers to be wary of any emails that fall contrary to that pattern. Social engineering hackers rely on the fact that customers will not notice minor differences in email addresses and graphics or website details before entering their private information until it's too late, so do not underestimate the importance of stressing these differences. • IRS IMPOSTERS — As a CPA, you may hear that your customers have been exposed to IRS fraud. One of the newest social engineering ploys is to phone individuals and tell them the IRS has an arrest warrant out on them and that they need to call and provide information and some form of payment immediately to settle the issue. In most cases, these scammers have enough personal information - such as your clients' address or place of employment - to seem convincing. As a CPA, you probably also know that the IRS never makes phone calls about these types of matters. Sharing your knowledge about industry best practices (such as the IRS' communication guidelines) can help protect your clients and give them the tools to guard themselves against would-be hackers. Although you can't avoid every risk of fraud, you can teach your team and your customers to be vigilant about handing over their personal information to social hackers. Share this information with your customers and help them learn where and how to get help when fraud occurs. You are stronger together, and your knowledge is a huge part of their financial health and security. Kevin L. Mabry, MBA was a featured speaker at the INCPAS 2016 Fraud, Forensics and Cyber Security Trends Conference in October.

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USING THE MEMBER OPEN FORUM AS YO By Elise May, INCPAS Marketing Communications & PR Coordinator

Workplace benefits are all over the news and upping the ante for employers – telecommuting, flexible scheduling, casual dress code, catered meals, extended family leave, unlimited paid time off and now shortened work week options. And mostly they sound great in theory, but in practice: how do you gauge what’s reasonable and manageable for your company? Even more, how do you decide or compromise on issues when leadership is at an impasse? Some CPAs here in Indiana are helping with the coin-toss moments in corporate culture by casting their discussion out into a much wider audience of their INCPAS colleagues in the Center of Excellence® Online Community. One issue in particular that received an abundance of feedback, both for and against, was whether employees should be able to plan a vacation during tax season. Featured below are some of the members sharing more about what discussions or changes took place as a result of their colleagues’ feedback, and how connecting with them on this and other issues is proving useful. Firm size: Seven

THE BIG QUESTION: PLANNED VACATION DURING TAX SEASON “My business partners and I are having a disagreement regarding planned staff vacations during tax season. What do other firms out there allow? I'm not talking about funerals or weddings which are simply part of life. I'm referring to planning a vacation now to take during tax season.” Brent Bracht, CPA, Partner SBS CPA Group, Inc., Fort Wayne


CPA IN Perspective

Why did you decide to post your question in the Open Forum? The issue of planned vacations during tax season had prompted a lot of discussion in our office that resulted in some heated conversations - we had to take some time outs. So my business partners and I really wanted to hear from other people about what they’re doing. What was your initial opinion on the issue? I had come from a Big Four firm, where vacation during tax season would have been laughed at. If you work at a public accounting firm, it’s all hands on deck come busy season. My wife had our first child in February 2007, and they let me take some time off – begrudgingly. In looking at the responses, roughly two-thirds of the people agreed that vacation during busy season was a very bad idea. And a third said “why not?”

Have you implemented anything with the feedback you saw? What was finally discussed and decide upon at our firm is that unless it’s a rare or extreme circumstance, there is no tax season vacation. One of the big points is that we don’t want to set a precedent that if we let this person go during busy season, it opens up the gates for “why can’t I go if they got to go?” How did you find out about the online community? I read the Daily Digest every day. I might skim some topics for just a few seconds, but I read them all. What is the value of the Open Forum for you? I think it’s an extraordinary resource for the price we pay for it. I could take just a little bit of time and ask a question to my immediate peers – peers here in Indiana, not another state with different rules - to see what they would do in this particular situation.


OUR SOUNDING BOARD Katie Stephens, CPA Wheeler & Associates, P.C., Indianapolis Firm Size: Three How did you come across the topic? I get the Daily Digest email and thought it was funny. Growing up, my family always took a trip during spring break without my dad (who is also a CPA). It’s just a fact of life in our profession. Did you talk to anyone else in your firm when you saw the topic? We actually had just been talking about it. There’s only three of us in the office who are CPAs, and vacation during tax season in a small firm just isn’t doable. We knew that going in.

What is the value of the Open Forum for you? When you’re the only CPA or there’s only one other CPA, you can’t really ask “have you experienced this?” or “How did you handle this?” It’s nice to be able to do that.


Jonathan Wieand, CPA, Owner Tax Solutions, Goshen

Firm Size: Three Post on July 12 It seems that, unless it were an extremely unusual circumstance or something arranged and prepaid prior to hiring by a person new to the tax business, the person making the request may not fully understand tax season and clients' expectations (as well as not understanding management's expectations). They may need additional education in this


Check out recent discussions, blogs and post your own topic in the Open Forum – use your account info to log in.

Christopher Knox, CPA, Manager The Watermark Group, Indianapolis Did you talk to anyone else in your firm about the topic? I think everyone here realizes people outside of our firm can’t even imagine having a three-day weekend, so the idea of expanding isn’t really discussed. Also it helps to get a break but not be stressed by scrunching more work into less time. How is the Daily Digest useful? It’s good to see some of the issues other people are kicking around. Why reinvent the wheel when it’s out there for you to use? Also you can find out how people are handling things, and if you don’t have time to respond you can make a mental note to follow up with them one-on-one later. What is the value of the Open Forum to you? I like to read when people post general updates and thoughts, like “have you thought about doing this to improve your firm’s culture or develop leadership skills?” More professional development from a big picture.

regard or a job in industry. My family has no memory of a spring break with Dad. Post on July 22 The comments to date have caused me to rethink my position. We do need to find more ways for our profession to be family friendly. Never being able to take a family Spring Break is not helping employee, family, or partner satisfaction. There surely can be creative ways to deal with this. Are there enough clients who would have no problem with being on an automatic extension? (It reminds me of the time my partners purchased a CPA sole practitioner's practice and discovered that over 1/2 his client were used to being on automatic extensions. Why did we feel compelled to change them to filing by April 15?! I raised the question but was out voted at the time.) Since then I have fallen into the habit of feeling like filing by 4/15 unless it were the client's fault

Hilary Clendenning, CPA, Manager The Watermark Group, Indianapolis Firm size: 25 What is the current policy? The three-day weekend is an attempt to give people a chance to recharge. The partners feel very strongly about that, so they bring it up at the beginning of busy season every year and police people to make sure they take theirs. For longer vacation, I know people have gotten special approval for various things, like an opportunity to go to the Final Four when their college was in it. Did you discuss the topic in your office? We didn’t really have a lot of additional discussion about it. I’m sure we could have, but we’ve already settled it in the office with the three-day weekend and consider it a valuable benefit. It was good that we both (colleague Chris) threw that out there because there are a lot of people who aren’t flexible, and we’re going to continue to lose people to industry. There’s a population of CPAs who need to think more openly about how to treat professionals and trust them to get their work done. How is the Daily Digest useful? I usually skim the Daily Digest every morning. Sometimes something will spark my interest and I’ll read through. If I ever had a question and a partner or colleague couldn’t answer it, I know I can go there. And also there’s usually posts about more technical information or updates with the Department of Revenue.

that we could not. It might be worth giving clients an incentive to accept filing later. After, all it should save us paying some overtime. What about the clients who frequently omit information that will later be available to us on IRS Wage & Income Transcripts after April 15? Are there ways to schedule that could allow rotating staff with school-aged children so they are eligible for a Spring Break every few years?

FALL 2016



G N I ject LEAD

D e L c R n e l O l W xce



E s f e o i r t e i t s n r CPA Ce Unive

s S t E c e L n A n W Co d n a A N A I in IND

Brought to you by the CPA Center of Excellence®


CPA IN Perspective

The CPA Center of Excellence® launched a world-leading trans-Atlantic academic project in early October in partnership with Indiana Wesleyan University and the University of Wales Trinity Saint David. The partnership provides business students at both universities with a new competitive advantage when it comes to employability skills - the same skills reported in the World Economic Forum’s 2016 “Future of Jobs Report” to be most in demand by employers. This project, if successful, will be the first known international partnership to report on the benchmarking of employability skills, allowing IWU DeVoe Division of Business and UWTSD students the advantage of being among the most prepared graduates entering the modern workforce - a value that aligns with the core mission of the CPA Center of Excellence®, to be the leading competency-focused, collaborative network. “We (UWTSD) are thrilled to be working with the CPA Center of Excellence® and Indiana Wesleyan and are committed to building international partnerships with leading-edge institutions such as these two,” said Maggie Inman, Ph.D., head of the Business School at UWTSD. More than 100 juniors and seniors at the DeVoe Division of Business at IWU’s main campus in Marion, Ind. were present for the CPA Center of Excellence®’s introduction to its online Insight Toolkit customized for students. Their majors include accounting and finance, business, marketing, management and entrepreneurship. Insight uses the concept of anonymized 360-degree feedback, which means that a variety of people who have familiarity with the student will assess the student’s skills to provide a comprehensive, well-rounded analysis of their skill set. The version that IWU and UWTSD is using was customized to student needs across all business majors. “Employers say young people don’t have certain skills like critical thinking or leadership. This is your opportunity to demonstrate

to them that you are aware of your skill set and that you have a plan to enhance those skills,” said IWU’s Associate Professor of Business Kent Williams, CPA, CGMA, while addressing the students in attendance. Each student must first do a selfassessment on the six core competencies as defined for this custom version: critical thinking, communication skills, leadership, cultural empathy, relationship building and entrepreneurial mindset, and then invite eight raters to give them feedback based on a 1-5 scale and written examples. Raters can include influencers such as employers, mentors, coaches, classmates and professors outside of the business school, with a limited number coming from family and/or friends. The students will be able to see the anonymous, aggregated feedback, as well as will their faculty advisor. Using these results, they can discuss their scores and create an action plan for developing skills, such as which courses to choose for next year. The end result will be for the students to be equipped with the skills many are lacking upon graduation and oftentimes even several years into their careers. “This project will help us see where our students are at and what we need to do to enhance all of those prior to graduation,” said Williams with regard to the impact it will have on the university’s business division. “We hope they will do this initial assessment and identify areas they can work on immediately.” After all of the assessments are completed in November, data from both schools will

be evaluated in an academic project lead by award-winning researcher Griffiths alongside Harriet Rojas, Ph.D., chair of the DeVoe Division of Business and professor of business statistics at IWU. The results will be released in 2017. “Our faculty sees the value of employability skills in the workplace, regardless of the student’s chosen major,” said Williams. “IWU cares about employability and the next generation. You can have the technical knowledge, but if you don’t have the skills to make it all work, you’re not going to get where you want to be.” For its part, the CPA Center of Excellence® hopes to help IWU and UWTSD students to truly know their skillset, so as to not be blindsided when competing in today’s hyper-competitive global economy - and to invite other universities to join us to create a movement toward a greater focus on the real value of employability skills for tomorrow’s graduates. “This is the culmination of years of hard work and demonstrates why this awardwinning toolkit has an impact that extends beyond the CPA profession to a larger audience,” said award-winning researcher David Griffiths, Ph.D., advisor for the CPA Center of Excellence® and learning design advisor for the Swansea Business School at UWTSD. “This project has the potential to help Indiana business students and their counterparts in Wales to be among the most prepared students entering the workforce in terms of their proficiency in these vital business skills.”

The mission of the CPA Center of Excellence® is to enhance vital business skills for the success of CPAs and other professionals. Look for articles about networking, communication and critical thinking skills, decision making and leadership in future issues of CPA IN Perspective.

FALL 2016



The Making of the

Competency-based Ethics Course

How do you create an innovative online interactive course for CPAs? Read this behind-the-scenes guide on the building of the CPA Center of Excellence® Competency-based Ethics Course.

1.TOPIC SELECTED Winter 2014

Making competency-based education a viable option for CPAs is a long journey, and for the first step, INCPAS began to lobby the Indiana Board of Accountancy for a historic rule change to allow competency-based courses to permanently fulfill the Ethics requirement. To complement this, the CPA Center of Excellence® set out to build a course to be available for the imminent change.

2.TEAM ASSEMBLED Spring 2015

Kent Williams, CPA, CGMA, was selected as the ethics course subject matter expert due to his experience as an assistant business professor at Indiana Wesleyan University, previous Society Board chair and former member of the Ethics committee. David Griffiths, Ph.D., CPA Center of Excellence® advisor, coached CPA Center of Excellence® strategist Jess Halverson Bowyer on the instructional design of the course.



Through solicitation of feedback on the online community, INCPAS members said they would like to see both behavioral and technical content included in the new course.

“We chose Ethics because it’s the foundation of what we do. We are considered the most trusted profession.” - Kent Williams, CPA, CGMA CPA Center of Excellence® Ethics Course Subject Matter Expert


CPA IN Perspective


The CPA Center of Excellence® got to work developing the instructional nature of the content, focused on adult learning theory which says most adults learn best when they can bring their own personal experience to the course environment as well as share it with other participants. Content was chosen to spur discussion and depth of thought, from NASBA-provided case studies, to a podcast on why people make choices. The goal was to keep participants engaged by using a strong mix of content including articles, videos, podcasts, case studies and social learning with fellow students. In the area of Ethics, this can lead to interesting discussions.

5.TESTING AND PROMOTION Spring-Summer 2016

Once the development stage was complete, the CPA Center of Excellence® then tested the course and tweaked it based on feedback. Members of the Society’s Ethics Committee, the AICPA, the CPA Center of Excellence® Board, INCPAS at large and college educators all evaluated the course. Next, the course went on the road to gather more feedback and to share the news with INCPAS members and others.

6.LAUNCH Fall 2016

In July 2016, the Indiana Board of Accountancy approved competency-based education to count toward the Ethics requirement for CPA license renewal, and the rule went into effect in October 2016.

The CPA Center of Excellence® Ethics Course is now available! Go to to find out more and register.

$99 – 90 days to complete. *Per Title 872 IAC 1-3-3(d)(2), completion of this course fulfills the Ethics requirement for Indiana licensees.

“The course we’ve developed is both unique and innovative. It was created by experts in Ethics education and has been tested and very favorably reviewed by several leading Indiana CPAs. We are excited and proud for it to be recognized as the first competency-based course in the history of the CPA profession to officially count for credit.” - J ess Halverson Bowyer CPA Center of Excellence® Strategist

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Continued from page 9...

SENIOR Carl L. Dolson Richard E. Ziegler STUDENT Madison Adams, Indiana University Kyle M. Britton, Indiana Wesleyan University Alexander L. Cenova, Indiana University South Bend Tanner E. Clarke, IPFW Matthew C. Cochran, Ivy Tech Community College Ruben M. De Melo Leonardo, Indiana Institute of Technology Matthew J. Deitz, Indiana University Laura S. Eaton, Indiana University Jacqueline S. Francescon, Indiana Wesleyan University Ruth D. Gilbert, University of Saint Francis Olivia A. Hattery, Ball State University Brielle R. Horner, IUPUI Shiquitta M. Hughes, Indiana Institute of Technology Dezon L. James, Indiana Tech Rachel H. Jones, Grace College Sitao Li, Brock University Udompong Limpon, Purdue University Nicole Maio, Ivy Tech Jesse D. Monts, Indiana University

Peter J. Panagouleas, Indiana State University Malayna E. Pottschmidt, Butler University Chris Rinker, IUPUI Kyle W. Rodman, Indiana University South Bend Juliana C. Romano, Grace College William M. Ronan, Indiana Institute of Technology Anna Ruchniak, Indiana State University Harry C. Rumer, IUPUI Louis M. Sacks, IUPUI Irving A. Salinas, Butler University Travis L. Shuman, IPFW Cameron T. Sinclair, IPFW Chad A. Speedy, Purdue University Curtis P. Tomlinson, IPFW Andrew S. Urbine, Indiana Tech Kaylin M. Venezia, Indiana University East Kyle G. Wallpe, Purdue University Monica Warren, Indiana Wesleyan University Robert L. Warstler, IPFW Sara Zidal, Indiana Wesleyan University Want your name on the list? Become a member of the Indiana CPA Society. Visit Indianapolis, IN 800-800-1776 At Patton, we work with your firm to offer a valuation solution for your client. Patton has a solution so your firm can participate in the process and fees while not having to sign off on the report. Join 100’s of firms in The Patton Business Valuation Network! Visit us online for more info and testimonials or call Troy Patton, CPA/ABV. We prepare the engagement letter, sign off on the report, all while working with you. We only prepare valuations, we will not compete for Your client. BUY-SELL • ESTATE • DIVORCE • DISPUTES • C TO S • FAIR VALUE • SBA LENDING • BUSINESS CONSULTING


CPA IN Perspective

Continued from page 5... CPA, senior manager, Blue & Co., LLC, Indianapolis. Andrew Brock, CPA, Jessica Hidalgo, CPA, and Rachel Sterling, CPA,

senior accountant, Blue & Co., LLC, Seymour. Cory Taylor, CPA, senior



Ralph Cunha, CPA, CGMA,

Arnold C. Hanish, CPA, CGMA,

vice president of finance/chief financial officer, Indiana Fiber Network, Indianapolis.

Eli Lilly and Company (retired) was selected as a new member of the Financial Executives International Hall of Fame.

Tony Robinson, CPA, chief

manager, Brady Ware Capital, Inc., Fort Wayne.

financial officer, Lambda Chi Alpha Fraternity, Inc., Indianapolis.

Mike Thill and Jesse Waninger, CPA, senior – audit and other

Zachary Scott, CPA, CIA,

assurance, Greenwalt CPAs, Inc., Indianapolis.

supervisor – audit and assurance services division, Riney Hancock CPAs PSC, Evansville.

Blue & Co., LLC awarded Mike Gricius, CPA, and Scott Prentice, CPA the David Windley Client Service Award for outstanding service; and Eric Jaske, CPA, Katy Ritter, CPA, CSEP and Shawn Williams, CPA the

Ron Blue Award for successful practice development. FIRM NEWS Zander Sterling, Greenwood, is a

new tax firm specializing in U.S. expatriate and foreign national taxation founded by Christopher Cornelius, CPA.

Continued from page 25...

GOVERNMENT RELATIONS ADVISORY COUNCIL GRAC met on October 14. Items discussed included INCPAS legislative agenda, effect of election outcomes and possible legislative actions. The group also looked at the property tax rule. GRAC is working to clarify and be consistent on what qualifies for the property tax

exemption related to not-for-profits. For more information on GRAC, contact Sherrill Rude, CAE

INDIANA CPA-POLITICAL ACTION COMMITTEE The PAC Trustees met with the Society lobbyist on September 22 via conference


call. The group discussed and approved the final round of contributions for legislative campaigns. Trustees approved a total of $59,500 in contributions for the 2016 election year. In October, PAC members made thank-you calls to all contributors who contributed $100 or more. For more information on PAC, contact Sherrill Rude, CAE

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FALL 2016



CPA IN Perspective


READ IT ONLINE Ransomware and Cyber Risk Management

A Millennials Journey: Finding Work Life Balance

By Randy R. Werner

By Samantha Zerr, Operations Accountant

Ransomware and cyber extortion represent one of today’s more malicious types of hacker attacks. It sneaks into computer systems, encrypts files, and demands a ransom before decrypting the files. A major problem is that ransomware does not always decrypt files even after the ransom is paid. Being prepared and taking precautions against cyber risk exposures such as ransomware is therefore essential. Otherwise, you’re at the mercy of criminals who prey on unprepared and unsuspecting businesses and individuals.

I am a Millennial. I love my job. I love my co-workers. I am lucky enough to work for a company that allows me to be just that; a Millennial. Every day, I get up and I go to work where I am greeted by an environment that allows me to work myself out of a job (or into a new one). Every day I’m encouraged, challenged, coached and generally supported. Like I said, I’m lucky. My intent is not to talk about how wonderful my job is, but to paint a picture of the environment I get to work, live and dream in...

Ransom demands range from a few hundred dollars to several thousand, depending on the size of the victim. Not all ransomware attacks are reported to authorities, so estimates of the total amount paid over the past few years vary widely, ranging up to $300 million...

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FALL 2016



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As Seen on The Smoke Detector

Critical Thinking Part of the New CPA Exam As has been widely reported, the CPA Exam has undergone the first major revision since 2011. The revised exam will be administered for the first time in April 2017. There was an excellent article in the September edition of the Journal of Accountancy explaining the methodology behind the process of revising the exam. The new version of the CPA Exam will emphasize critical thinking skills. These skills will be assessed using an expanded array of task-based simulation questions. These new questions are designed to give the candidate a scenario that reflects what they might experience as a new staff accountant. They’re expected to interpret information from a variety of sources and make strategic decisions about the proper accounting treatment of activity. These changes have been made to reflect the current expectations of new staff accountants. Interesting, an article titled “Employers Find ‘Soft Skills’ Like Critical Thinking in Short Supply” in The

enough for the new CPA to focus on accumulating data. Typically, the data needed to evaluate accounting activity is readily available or easily obtained using software By Dennis tools. New CPAs must Hickle, CPA, be able to evaluate data, CTFA Wall Street Journal last Hickle CPA assimilate information from a variety of sources, and week discussed just that. Group exercise professional judgTwo recent surveys found ment. Traditionally this profesthat employers report the lack of sional judgment would have been soft skills in candidates. Critical the responsibility of staff accounthinking is important because it tants with more experience. enables CPAs and other financial Because the new Exam reflects professionals to add value that these expectations being placed automation can’t replace. An on new staff accountants, it raises executive from Robert Half was several questions concerning how quoted as saying that “soft skills you are preparing new staff: are more important than ever before at the lower end of the org • How do you communicate chart, and that the focus is earlier expectations to new staff? on in one’s career.” • Do you tell them you expect There is no disputing the fact them to use professional that technology and outsourcing judgment to determine the have changed the expectations proper course of action? placed on all CPAs, but even more so on new CPAs. It’s not

• Do you provide new staff with examples that demonstrate how professional judgment has been exercised in the past? • Do you provide guidance on documenting the rationale behind the decisions made by staff accountants? • How do you empower staff to make decisions and utilize professional judgment? By helping new staff develop the critical thinking skills they need to effectively exercise professional judgment, you are not only making them a more valuable employee, you are also preparing them for the CPA Exam. If you want to get familiar with the Exam, the current JoA issue also includes a brief quiz about the new changes. I encourage you to test your knowledge about it in order to be better prepared for the launch next spring. Originally posted September 6, 2016, on

Never Stop Learning By Lisa Brown, CPA, CGMA, Indiana Tech When I was young, vacations with my family often involved trips to museums. I remember walking hand-in-hand with my Dad as he read each and every sign for each and every exhibit. My dad was a lover of learning; a lifelong learner. His example taught me to be a lifelong learner – to enjoy and savor learning.


CPA IN Perspective

CPAs must be lifelong learners. It is one of the things that I enjoy about my profession. There is always something new to learn. A lot of new things! Always! Lifelong learning was identified as one of the CPA core competencies in the CPA Horizons 2025 Report initiated by the AICPA. Its purpose is to define and assess core competencies and values of

the CPA profession, identify trends facing the profession, and help identify how the profession can meet challenges and leverage opportunities. The report cites the following as the impact of lifelong learning on the profession … Originally posted July 19, 2016. For the full blog, go to


KNOWING HOW TO MINIMIZE THE RISKS. Your clients trust you to keep their confidential data safe. At CAMICO®, we know the risks because we’re CPAs ourselves. That’s why we introduced CyberCPASM as part of our CPA Professional Liability Insurance coverage. You’re not only protected in the event of an attack or breach, you also have access to risk management tools and resources to help minimize the risks. Including breach response services such as client notification, credit monitoring and identity theft assistance. Protecting CPAs—that’s been the CAMICO tradition for 30 years.

What every CPA needs to know about cyber security. How to safeguard information, increase awareness of cyber risk, and protect your clients.

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ETHICS EDUCATION ISN’T OPTIONAL … BUT HOW YOU TAKE IT IS! $99 Be among the first CPAs to experience a new way to fulfill your ethics requirement by taking this interactive and on-demand online course. Copyright © 2016 CPA Center of Excellence, Inc. All rights reserved. *Powered by the Indiana CPA Society.

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CPA IN Perspective Fall 2016  

CPA IN Perspective of Fall 2016 features the new class of INCPAS Scholars, award-winning CPA Center of Excellence projects, photos from the...