Meet Our Members - SumNews May 2024

A Message to Members from MassCPAs President and CEO Zach

Donah, CAE

As we kick off our new membership year, I want to share some exciting plans and initiatives we have at MassCPAs. It’s a time of opportunity and growth, and your involvement is key to our collective success.

Last fall, we conducted a survey to better understand the needs of our diverse membership. Thanks to all who participated, your feedback is invaluable. As the profession evolves, so do your needs and the expectations you have of your local, professional home. Therefore, enhancing the value and reach of our programs and services remains a top priority.

We are dedicated to evaluating and revitalizing our offerings and are developing new opportunities to network across industries and connect with your peers. We’re also focused on helping organizations with leadership development, keeping up with emerging technologies and managing the increasing complexity of work for licensed CPAs and the many roles that are critical to the success of CPA-led organizations. We were fortunate to add a new member to our team who is dedicated to curating custom learning and development content to meet the challenges and capitalize on the opportunities impacting you and your workplace. Expect new, innovative programs that directly tackle these emerging challenges, aimed at enhancing value for every member and expanding our vibrant, resourceful community.

We are deeply committed to nurturing the next generation of accounting professionals. To this end, we’re increasing engagement with students and educators by expanding our mentorship program and offering more volunteer opportunities for young professionals to engage our student members. This builds upon our existing student-

focused initiatives, supported through mission-spending and donations to our Educational Foundation, and follows years of significant growth in student engagements, led by our talented academic and career development team.

We’re also addressing barriers to entry into the profession and retention challenges. This spring, we released a white paper reinforcing our stance that discussions about the profession’s workforce development must include diversity, equity, inclusion and belonging (DEIB) strategies. Based on feedback in the report, we’ve developed a custom learning series for organizations and individuals interested in these topics. You can read more about the report and this topic in the next section..

Accounting is a remarkable profession, made more impactful by the unique insights you, as business leaders and advisors, provide to individuals and businesses in Massachusetts and beyond. These insights are crucial for informing fellow CPAs and accounting professionals and stakeholders, including legislators, regulators and the media, who influence the profession. In line with this, we’ve introduced MassCPAs PulseCheck, a series of benchmarking reports to be released throughout the year.

Next year, MassCPAs will celebrate our 125th anniversary of serving CPAs and accounting professionals in Massachusetts. A robust Society is essential for maintaining our dynamic profession, which has evolved and strengthened over the years. Our focus remains on the long-term sustainability and relevance of the profession and our organization. This includes leveraging technology and data to enhance our operations and member experience and exploring strategic partnerships to augment our services and impact. Our goal is to sustain MassCPAs as a leading, innovative organization in the accounting field for the next 125 years and beyond.

As we embark on this journey, your insights and participation are more valuable than ever. Together, let’s make this year a time of remarkable impact and achievement.

Looking forward to a great year ahead, 

Zach Donah, CAE

ACCOUNTING & AUDITING COMMITTEE

A Legacy of Dedication: Phil Pacino, CPA

Our Accounting and Auditing Committee meets monthly to further the development of generally accepted accounting principles (GAAP) and generally accepted auditing standards (GAAS). We recently had the privilege of speaking with Phil Pacino, CPA, sole practitioner, Philip B Pacino CPA LLC, who completed his remarkable 20+ year tenure as chair.

What fueled your passion for leading the committee for over two decades?

I joined the committee in May 1992 after facing regulatory issues during an audit, which made me recognize the need to stay current in my field. In May 2000 I became chair, and my drive to continue stemmed from the satisfaction of communicating vital accounting information to members and staying updated on professional standards. As we shifted to virtual meetings during the pandemic, attendance saw a remarkable increase, and recognizing this trend, I pushed for the continuation of virtual meetings post-pandemic.

How have you seen the accounting and auditing landscape evolve over the years?

As chair, I actively facilitated the alignment of accounting and auditing standards with international norms. I introduced proposed international exposure drafts to the committee when I believed they would impact future changes in U.S. GAAP and auditing practices. I also witnessed the establishment of the Public Company Accounting Oversight Board (PCAOB), which sets standards primarily for public entities, with implications sometimes extending to private

The article is authored by or features a MassCPAs member or staff person.

Phil Pacino, CPA Sole Practitioner, Philip B Pacino CPA LLC

companies, and played a role in the creation of the Private Company Council (PCC).

Looking back on your journey, what brings you the greatest sense of fulfillment or pride?

Effectively communicating crucial information to our members. I take pride in receiving compliments from practitioners about my role as chair and the information I convey. One of the most gratifying moments was when I learned that a peer reviewer recommended that a firm’s members join our committee based on my communication efforts.

What words of wisdom or encouragement would you offer to those who are new to the committee or are considering joining?

I highly recommend practitioners join the committee to stay updated. With standards evolving constantly from various setters like FASB, PCAOB, IAASB, IASB, AICPA and PCC, it’s crucial to stay informed. As I step down, I wish my successor, Steve, the best of luck, and I am confident he will do a great job leading the committee forward. 

ACCOUNTING & AUDITING COMMITTEE

Meet the New Chair: Steven Cohen, CPA

We also spoke with new chair Steven Cohen, CPA, partner at Withum, about what inspired him to take on this role, his vision for the committee and more. For more information, visit masscpas.org/aacommittee.

What made this the right time for you to take on this role?

I’ve been a member of the committee for several years and greatly benefited from participating in the meetings. Taking on this role allows me to increase my involvement and provide support to other members.

What aspect of leading this committee are you particularly enthusiastic about?

No one person has the answer to every question, so I’m excited to have discussions with those who have similar issues and challenges to forge the best path forward.

How has your background prepared you for this leadership role?

I’ve been in public accounting for over 25 years at both local and national firms. In the last 10 years, I’ve also been more active with the Society as part of this committee and the Peer Review Acceptance Board.

Steven Cohen, CPA Partner at Withum

Having a predecessor with over 20 years of service, what do you intend to carry forward?

We were fortunate to have Phil as committee chair for over 20 years. I plan to continue the incredible amount of time and energy that he gave to facilitate discussions around implementing new accounting and auditing pronouncements.

Given the evolving landscape, what strategies do you believe will be crucial for the committee’s success?

I plan to be proactive in planning and facilitating meetings to encourage idea exchange and information-sharing. 

Don’t miss the next meeting on May 22. Register at masscpas.org/aac522.

ALTERNATIVE INVESTMENTS COMMITTEE

Mike Davoli, CPA Vice President, Alternative Product Oversight at Fidelity Investments

Meet the New Co-Chairs:

Mike Davoli, CPA, and Kayla Ducharme, CPA

our Alternative Investments Committee meets quarterly to discuss accounting standards implications on alternative investments, including private equity, venture capital and hedge funds. We spoke with new co-chairs Mike Davoli, CPA, vice president, alternative product oversight at Fidelity Investments, and Kayla Ducharme, CPA, audit manager at KPMG LLP and 2022 Women to Watch Award recipient about what fueled their decision to lead, the unique strengths they’ll bring to the committee and more. To learn more, visit masscpas.org/altinvestments

What inspired you to take on the role of co-chair?

DAVOLI: Having the opportunity to serve a community of members who share my interest in the alternative investments industry. I’m excited to get to know other members and promote networking among our group.

DUCHARME: I’ve been a member of the planning board since inception, and I’m excited to continue growing this fairly new group. I have ideas for discussion topics, collaboration with other committees and networking events. My goal is to bring in more industry professionals to improve the holistic view of trends and developments.

What strengths and experiences do you bring to the committee?

DUCHARME: My greatest strength is my diversity in practice. I currently work in auditing with clients across real estate, private equity, venture capital and hedge

Kayla Ducharme, CPA Audit Manager at KPMG LLP

funds. I also bring experiences from my previous role at a smaller firm, as well as from my current Big Four firm.

DAVOLI: I spent the first 11 years of my career in public accounting as an auditor, where I had the opportunity to see the many different aspects of alternative investment funds across both large and small asset managers. Now that I’m working in the private sector, I understand accounting and regulatory issues from both the auditor and client point-of-views, which gives me a dynamic perspective. It’s my hope that the breadth of my background and experience will serve as an asset to the committee and its constituents.

Are there specific areas you are particularly excited to explore?

DAVOLI: If I had to pick one thing, it would probably be private credit –it’s an extremely active and competitive space and there are a lot of different products, instruments and strategies that can be used to facilitate investments in private credit. Coming in at a close second would be the integration of crypto assets into fund portfolios and the impact that doing so has on operations, financial reporting and internal controls.

DUCHARME: I’m most interested in the impact of the SEC highly anticipated new rules under the Investment Advisers Act of 1940 (the “Advisers Act”) that regulates private fund advisers, the growth of digital assets such as cryptocurrencies and other crypto tokens and any tax or interest rate changes and related impacts to the market.

How do you see the committee evolving in response to current trends in the industry?

DUCHARME: I envision the committee coming together to holistically discuss any new trends across audit, tax and related industry professionals. We can accomplish this by bringing in keynote speakers, hosting panel discussions or facilitating a fireside chat depending on the topic.

DAVOLI: Navigating trends and developments in the accounting industry is a lot easier when you have a strong network. Whenever I find myself problemsolving something at work, my first step is usually to consult my network. I’d like the committee to develop more opportunities for our constituents to meet, get to know each other and exchange ideas. I see the role of the committee as a conduit for networking and information sharing. 

Don’t miss the next meeting on June 11. Register at masscpas.org/aic611.

Rising Star

Danielle Donovan, CPA, MSA

Danielle Donovan, CPA, MSA, is a manager at Walter Shuffain and 2019 Women to Watch Award recipient. Read on to learn more about her role as a MassCPAs Firm Ambassador, what gets her through busy season and more.

What is the best part of being a MassCPAs Firm Ambassador?

The ability to make connections and build relationships. Being both a Firm Ambassador and a member of the Young Professionals Committee has allowed me to greatly expand my network. The program really fosters a collaborative environment where I can learn from my peers, many of whom are at the same career level. Without this program, I would have missed out on so many valuable connections with other accountants.

What has been your most rewarding experience as a CPA?

Being able to give back to the accounting community. I’ve been in public accounting for nearly a decade, and I enjoy being actively involved in accounting community initiatives, especially opportunities to speak to accounting students and those beginning their careers. There is so much more to the accounting profession than crunching numbers! Public accounting has many great aspects to it, and it is a really rewarding experience to get others excited about the field.

What should accounting students know about being a member of MassCPAs?

Aside from being able to leverage connections, the Society also offers educational scholarships. When I was a student member, I was able to utilize this resource and obtain two scholarships for my undergraduate and graduate schooling. Being a MassCPAs member is a great way to network with other professionals early in your career, and I would encourage students to take advantage of the many resources it offers.

What song do you have on repeat?

Beast of Burden – I’ve been on a big Rolling Stones kick this tax season!

What’s your most prized possession?

My low-digit license plate that I inherited from my father. If you’re from Massachusetts, you know they’re hard to come by, and I display it proudly in his honor.

When are you happiest?

When I am working on house projects with my fiancé. We recently purchased a home in Hanover, and it’s been so fun to make it our own. I also love spinning on my Peloton and spending time outdoors. 

K now someone up-and-coming in the profession? Nominate them by emailing Hannah Naranjo at hnaranjo@masscpas.org or by visiting masscpas.org/risingstar

Celebrating

Carla McCall, CPA, CGMA, AAFCPAs’ Managing Partner and New Chair of the AICPA

We spoke with Carla McCall, CPA, CGMA, managing partner at AAFCPAs, former MassCPAs board chair, 2013 Women to Watch Award recipient and new chair of the AICPA about what drives her, advice for young professionals, authentic leadership and more.

How has your involvement with MassCPAs and the AICPA helped your career?

My involvement with MassCPAs and the AICPA has provided me with a trusted inner circle of peers, collaborators, mentors and champions – and we have built really close relationships. It all started with my volunteerism with MassCPAs on the Management of an Accounting Practice (MAP) committee. It was on this committee that I learned about the power of collaboration. We put the profession first and stopped seeing ourselves as competitors. There is significant value when we share information with each other. I have only amplified our focus on collaboration since then, and it has had a positive impact on our firm’s growth.

Involvement has also provided me with a seat at the table at the AICPA, including Barry Melancon, CPA, CGMA’s, industry updates, which includes transformation, evolution and what the future holds for our profession. One of my strengths is connecting

the dots. I was able to listen to what was happening in the industry, keep that external view, bring it back to the firm and take action to create positive change, value and growth.

What made you decide to take on a leadership role with the AICPA?

I have such a passion for the profession along with an innate drive to improve the environment around me and help other people. This is what gives me energy. The AICPA has provided me with so much value, which I’ve been able to bring back to AAFCPAs and use at the firm to benefit everyone including our clients.

It has also provided me with a national and global platform to advance the profession and create positive change. I believe significantly in the power of collaboration and in sharing more liberally with each other. If we all do better, the profession does better. This leadership role provides me with a valuable platform where I can share some of the ideas we’ve been implementing, which might help smaller firms think a little differently or evolve a little faster.

What’s one thing you wish you knew when you were first starting out in accounting?

When I started out in accounting, it was a very different world and the profession was very different. It was more one size fits all, and everybody sort of advanced doing the same thing with similar expectations.

At that time, I wish I had realized the value of the profession. I’m not sure I had a full appreciation for this at that time. The strength, resiliency, stature, earnings potential and opportunities that the profession had available is much more visible today because we have leaders who are transparent and we’re talking about it and

evolving. We are much better today at allowing people to find their meaningful work and play to individuals’ strengths.

I’ve been in the profession for a long time and gone through the ups and downs of multiple economies. This has proven to me just how resilient this profession is and how many different types of career paths and leadership opportunities it offers.

I would have been a more vocal champion earlier in my career had I known all of this. If we were all more vocal about the positives of this profession, perhaps we would not have a pipeline issue today.

& Associates, LLP

Why is community service so important to you? Do you have a current or favorite cause?

Community service was a springboard for building my external network and gave me visibility to my privilege. My first board seat was an organization that helped build confidence in young girls. I saw that I could make a positive impact on young women and girls and boy did that feel awesome! Not only could I support causes monetarily, but I also volunteered much of my time to move the needle on issues that were important to me.

Getting involved in community service early in my career changed its trajectory because I really understood how nonprofits work, how boards work and what leadership is. It broadens your thinking and it feels good to have an impact.

Giving back is in our firm’s DNA, as half of our firm is dedicated to serving nonprofits. We also encourage all team members to give back in time, talent or treasure. AAFCPAs will always have community service as a core value.

As far as favorite causes, I am inspired by so many. However, it’s often lived experiences that inspire our deepest passions. I will

Mark Rosen, CPA, CFP® Managing partner at Rosen

always hold mental health and suicide prevention most near and dear to my heart. I offer the resources I have – time, talent and treasure – to challenge stigma by talking openly about mental health and educating about the risk factors and warning signs of suicide and other related mental health concerns.

How do you balance your successful career and personal life?

I learned early on that career aspirations are very much a family discussion. I learned to be open and transparent with my spouse about how we were going to balance my career versus his career along with raising kids and other responsibilities. It takes a lot of communication, humility and planning – not to mention support. My husband, Chris, has been a huge support for me especially when I stepped into a managing partner seat in 2011. It would be five times more difficult for me to do this without his support.

Can you talk about the importance of authentic leadership?

Authentic leadership is so important to me. I wasn’t true to myself until I received critical feedback. And, for the very first time in my career journey, I took the time to self-reflect. I think there’s power in selfreflection. People can change.

You need to be able to accept feedback. You need to view it as a gift. You need to really get to what gives you energy and focus on that which, for me, is improving – improving myself, improving the environment around me and helping other people succeed. That is really what has made me most successful in my seat as a managing partner: building the right culture – a people-first culture – and the right tone from the top. 

Staff Spotlight

Melissa Nystedt

MassCPAs recently welcomed Melissa Nystedt as member engagement manager and Ali Dixon as training relationship manager. Read on to learn what they’re most excited about, their backgrounds and more.

What excites you the most about joining MassCPAs?

Getting to know our members! I’m excited to help them thrive in their professional journey and ensure they are well connected to our offerings, resources, education and incredible network.

Tell us about your previous role and what interested you in this position.

My prior career centered around youth mentoring and nonprofit leadership. Relationship building was the cornerstone of that work and translates nicely into my role at the Society. I’m eager to learn what matters most to our members, while exploring a new industry. I’m also particularly interested in building connections between young and seasoned professionals.

Melissa Nystedt Member Engagement Manager

What do you hope to achieve in your first few months?

I hope to learn more about our diverse membership needs. It’s important that we’re able to adapt our approach to ensure we meet the varied needs of our membership.

What’s your go-to snack for fueling up during the workday?

I love the classic pairing of granny smith apple slices and peanut butter.

What’s your favorite thing to do outside of work to relax and unwind?

I love reading and enjoy switching from sitting in a cozy spot with my book to listening to the audiobook version while I’m busy in the kitchen or walking outside.

What’s the last show you binged?

Suits , and rumor has it, a new spin-off show is coming our way soon. 

Staff Spotlight

Ali Dixon

What excites you the most about joining MassCPAs?

This newly established role within the Society presents an exciting opportunity for me to contribute my insights and support the growth of the learning and development team. While the position itself is unfamiliar territory for me, I’m eager to apply my background experience and look forward to utilizing my expertise in sales and recruiting to nurture client connections and offer valuable insights. The warm reception and support from everyone have been truly encouraging, and I am thrilled to be part of such a welcoming and dynamic team.

Tell us about your previous role and what interested you in this position.

In my prior role as a recruiter, I specialized in placing candidates in diverse roles across the Boston area, primarily in accounting and finance. I found great fulfillment in the relational aspect of the job, where I engaged with candidates to understand their aspirations and match them with roles suited to their preferences. I’m excited to maintain great customer service for our current clients and build new relationships.

Ali Dixon Training Relationship

What do you hope to achieve in your first few months?

To collaborate with our current clients and establish new relationships to promote our offerings and increase membership.

What’s your go-to snack for fueling up during the workday?

Cheese and crackers!

What’s your favorite thing to do outside of work to relax and unwind?

I love being outside and spending time with my husband and family.

What’s the last show you binged?

The Blacklist. 

CPA Pathways

Stephen Nasiatka, CPA, CFE

Our CPA Pathways series highlights the different careers and career paths in both industry and public accounting. For this issue, we spoke with Stephen Nasiatka, CPA, CFE, managing director at Monomoy Advisors about his career path, his entrepreneurial spirit, how MassCPAs has impacted his career, advice for students and more.

What has your career path looked like?

I’ve always been an entrepreneur at heart – I started a lawncare business at 8, an eBay sales business at 14 and most recently I began sharing wine as an independent ambassador for the Boisset Collection. In my professional career, I started as an audit intern at KPMG Hartford in 2003 and moved to industry at the Siemens Corporate Finance department in 2009. In 2015, I “boomeranged” to KPMG’s Accounting Advisory team. In March of this year, I celebrated my one-year anniversary at Monomoy Advisors, a boutique consulting firm where I have a dual role as managing director for accounting advisory and business development for accounting advisory and our other four business lines (interim finance, decision support, business process consulting and human resources).

What made you decide to switch from public accounting to business/industry?

Starting my career as an auditor in a Big Four firm allowed for tremendous experience that has been instrumental to my career path. My first move to industry allowed me to broaden my experience and gain different perspectives from a more operational point of view. Most recently, I was drawn to being able to obtain more operational experience and a focus on business development.

During my first year at Monomoy, I’ve been able to continue putting my entrepreneurial skills to use, while enjoying the people and culture. It’s proven to be a great fit, and I’m proud to work there.

How has your involvement with MassCPAs helped your career?

Being part of MassCPAs has been instrumental in shaping my career. The networking opportunities have allowed me to connect with professionals in the field, leading to valuable mentorships, collaborations and inroads to clients. The diverse range of events and resources helps me stay updated on the latest trends and developments in the industry, enhancing my skills and knowledge. My involvement has ultimately been a key factor in my professional growth and success.

Do you have any advice for students studying accounting?

My time at Western New England University was holistic and focused on more than just accounting and finance. It also included involvement in clubs and organizations to develop broader skills that are more necessary than ever before. Accounting is no longer just booking journal entries. It has become a field built on analytics, soft skills, communication and teamwork across disciplines. Understanding the overall business context is critical as accounting does not stand alone. Studying accounting results in skills that are transferrable to so many other opportunities for professional growth – this truly continues to be an exciting time for anyone studying accounting!

Is there anything else you’d like to share?

Don’t underestimate the power of building your network, and don’t wait (the young professional you meet today is tomorrow’s C-level executive). Find mentors and check in with them regularly. Get comfortable being uncomfortable and go for that stretch project or position (that’s where you will have the most growth). Complete the CPA Exam as soon as you can (it gets more challenging the further you get from school as work responsibilities increase). It’s important to have a passion for whatever path you decide on and for me, accounting has enabled me to follow my passions. 

Know a MassCPAs member we should feature? Contact Hannah Naranjo at hnaranjo@masscpas.org .

Member Spotlight

Mellinda Abbott, CPA, MBA

Mellinda Abbott, CPA, MBA, is a partner at Abbott and Company LLC with over 20 years of experience. Read on to learn about owning her own firm, how she manages work-life balance, advice for accounting students and more.

How do you balance your work and personal life with running your own firm?

Developing a consistent daily routine that incorporates both work and personal activities has been essential. A well-structured routine helps me manage my time more effectively. I also prioritize self-care, including sufficient sleep, regular exercise and healthy eating.

What’s your favorite part of your job?

My clients! I enjoy celebrating both personal and professional achievements and milestones with them. At Abbott and Company LLC, we tailor our services to meet the specific needs of each client. This personalized approach demonstrates our commitment to their success.

What’s the most unexpected thing you’ve learned during your career?

Don’t be afraid to fail. Failure has taught me many lessons both personally and professionally. It has helped define and refine my “next steps” in a way that would not have been apparent to me had I not made the mistake.

How has your involvement with MassCPAs impacted your career?

The Society has been a guiding light for me. As a sole practitioner, it’s invaluable to have a team of professionals working behind the scenes to ensure your hard work is manifested in the future of our profession.

Where do you see the profession in five years?

The profession will certainly change as will the entire way we conduct business. I hope to see a future where our ethical and professional standards are maintained with the highest regard.

When you aren’t working, what can we find you doing?

I enjoy spending time with my children, grandchildren and goldendoodle, Lola. My favorite place is Ogunquit, ME, and I enjoy family beach days! I’m really looking forward to summer. 

K now a member we should spotlight? Contact Hannah Naranjo at hnaranjo@masscpas.org or nominate them at masscpas.org/memberspotlight