The Journal Entry - Fall 2022

VOL 4 · FALL 2022

THE

JOURNAL ENTRY THE UTAH ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANTS

HOW CHRIS HARDING GOT ON THE BALLOT

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CONTENTS CEO's Message.................................................................................................... 4

FALL 2022 Utah Association of Certified Public Accountants 15 W. South Temple, Suite 1625 Salt Lake City, UT 84101 801-466-8022 mail@uacpa.org www.uacpa.org Managing Editor Amy Spencer as@uacpa.org 2022 – 2023 UACPA Executive Board President: Ray Langhaim, CPA President-Elect: Dustin Wood, CPA Vice President: Jason Tomlinson, CPA Treasurer: Mark Anderson, CPA Secretary: Tad Tuttle, CPA Member-at-Large: Annette Anderson, CPA Member-at-Large: Chris Skousen, CPA Emerging Professionals: Eric Greene, CPA Immediate Past President: Stacy Weight, CPA AICPA Council: Paul Skeen, CPA CEO: Susan Speirs, CPA UACPA Staff CEO: Susan Speirs, CPA CPE Director: April Deneault Communications & Marketing Director: Amy Spencer Financial Director: Tom Horn, CPA

Cover + Articles Chris Harding Is on the Ballot .......................................................................... 6 Meet Centerville’s CPA Mayor.........................................................................11 The SALT Committee in Action.......................................................................12 By the Numbers: CPA Demographics............................................................15

Membership Awards: 2022 Award Winners and Newly Licensed CPAs.........................16 Photos: Awards + Inauguration......................................................................22 New Members and Student Affiliates............................................................24 Members in the News......................................................................................25 Photos: Money Camp and Golf Tournament...............................................26 Meet the Board...................................................................................................28 UACPA Staff Chat..............................................................................................29 Board Brief..........................................................................................................29 In Memoriam......................................................................................................29

Cover Image by Chris Wood, robertwoodphoto.com

UACPA Statement of Policy The Journal Entry is published four times a year by the Utah Association of Certified Public Accountants (UACPA). The opinions, views and articles expressed in this magazine are those of the authors and not necessarily those of the UACPA. This magazine should not be deemed an endorsement by the UACPA or its committees or editorial staff of any views, opinions or positions contained herein. Copyright © 2022 Utah Association of Certified Public Accountants

Comic: Generally Excepted..............................................................................30 Meet a Member: Matthew Gardner, CPA, JD................................................31

CPE 2022 Fall CPE Schedule...................................................................................32

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CEO’S MESSAGE SUSAN SPEIRS, CPA

T

he political climate is said to be an aggregate mood and opinion of a political society at a particular time. The term is

often used to describe when the state of the mood or opinions are changing or unstable. I think it’s safe to say that our political climate is changing nationally as well as in the state of Utah. As we look at the root of politics, money is a driver in any policy.

The fact that the accounting profession speaks the universal

starting with identifying relevant cash flows for capital

language of money means that politics cannot thrive without

budgeting to implementing and adjusting as necessary

accounting professionals who fluently speak the language of

within given scopes.

money in the political economy. For many in our profession, the idea of CPAs being involved in politics is anathema. However, who better than a CPA? The political environment and public

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audit, as do our cities and towns and municipalities. Our

policy need individuals of our caliber who possess the qualities of

universities and many of our state agencies have audits

integrity, objectivity and competence. As CPAs, we have diverse

as well. One of the roles of the audit function is to provide

voices and viewpoints as well as realistic approaches in the form

opinion as to whether the financial statements have been

of monetary facts and figures. We have the opportunity to bring

presented fairly and in accordance with GAGAS (Generally

much needed fiscal knowledge and insights coupled with our

Accepted Governmental Auditing Standards).

professionalism into the public discourse.

Below are three areas that we can contribute to the political economy: 1.

We’re very fortunate to have members serving in our political and governmental arena. Oftentimes these individuals are holding down full-time jobs while serving in legislative and mayoral

Transparency in the reporting role: Transparent and understandable stewardship reporting must be at the forefront. Our profession is well equipped to provide information that is available. We have standards that provide for consistency in our reporting requirements and individuals that can present reports and opinions at a grassroots level so that the public can better grasp and understand progress and challenges.

2.

Auditing and assurance roles: Our state has an annual

positions. We have many working full time at the governmental level providing leadership in reporting issues as they relate to transparency and policy issues. Who better than CPAs to be involved in challenging conversations as we continue to see our political climate shift?

We hope you enjoy reading about our members who participate in political office as well as members who are helping to provide input to policy challenges as we move forward. Please feel free to

Investment appraisal role: Without investment, political

engage! n

economies cannot achieve their goals. CPAs are involved

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It’s Worth It! WITH

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DELIVERY OPTIONS:

Face-to-face Live Broadcast Interactive Online

Vard Wells 2021 Utah State MBA Graduate

Ask about our entrance exam waiver. Currently accepting applications. Apply now!

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Photos by Chris Wood / robertwoodphoto.com

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FEATURE

PUTTING YOUR NAME ON THE BALLOT AS A CPA CHRIS H ARDING FACES HIS FIRST ELECTION SEASON AS SALT L AKE COUNT Y AUDITOR

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e champion the CPAs who bring their background in ethics and transparency to represent their community through elected positions. Seeing Chris Harding, a candidate for Salt Lake County auditor, has reignited the conversation about the value of a CPA in office.

Harding became interested in the position in November 2021 while reading a KSL article indicating that Scott Tingley would be leaving office to take another position with the state. “As I began casually researching the auditor’s office looking at their audit reports, searching for information on prior county auditors, and asking questions to current and former county employees, it soon became an obsession,” he says. The research and connections swelled to reveal “an explicit need and significant gap in auditing knowledge, experience, and use of audit standards that I was qualified to fill.”

On Feb. 5, 2022, the Salt Lake County Republican Party Central Committee members elected Harding with 79.8% of the votes. In November, he will face his first general election where he will again run against David Muir, Cottonwood Heights City treasurer and financial reporting manager.

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MEET CHRIS As one of six children, Chris Harding was born and raised in Bountiful. Harding graduated from Viewmont High School in 1998 and served a twoyear mission for his church in Dallas, TX. In 2022, he married his wife, Candice, and they have five children between six and 18 years old. Influenced by his father-in-law who is a CPA, paired with his love for learning about accounting, Harding discovered his niche in audit. Harding attended Salt Lake Community College, earning an associate degree in business, then transferred to the University of Utah and earned a bachelor’s of accounting in 2004. While working in local CPA firms, Harding earned his MBA from Weber State in 2008. Chris became a licensed CPA in 2009, then earned his Certified Fraud Examiner (CFE) in May 2011 and Certified Internal Auditor (CIA) Certificate in 2012.

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We had the opportunity to meet Harding and learn more about him and what it’s like to run a campaign for an elected auditor.

What are your responsibilities as the Salt Lake County auditor? I have two broad responsibilities as Salt Lake County auditor. The first is sending the annual Notice of Valuation (NOV) to inform property holders what their local taxing authorities are planning to do. This also includes acting as the clerk of the Board of Equalization to ensure that property owners who file an appeal, regarding their property valuation, are given a fair hearing. Second, I am charged with auditing the county government to mitigate the risk of fraud, waste, and abuse.

What are some of the challenges of running for public office? My first initial challenge was the fact I was a federal employee at the time and subject to the Hatch Act. I had concerns and questions about whether I could even run for county auditor in the special election. However, after emailing back and forth with the Office of Special Counsel, and a long phone conversation, I was assured that federal employees could be appointed to a partisan office; they just have to end their federal employment before seeking reelection.

Another big challenge for me, tending to be introverted, was to get out of my comfort zone and speak to others.

Before winning the special election, I literally stalked people on LinkedIn and other social media outlets who were in local and state government. I struck up conversations, asked for information, and went out of my way to get involved, become informed, and make a difference.

What are the biggest challenges you face in your position? The biggest challenges I face in this role are getting the office compliant with GAGAS standards and passing legislation to return the independence of the county auditor (at least here in Salt Lake County). I am working with the Association of Local Government Auditors (ALGA) to get a peer review in FY23. I am working with Rep. Jordan Teuscher and Sen. Curtis Bramble on legislation for the 2023 session. Our draft

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language was introduced in the September interim session.

How does your professional experience translate to the duties of county auditor? I have been performing GAGAScompliant audits for the federal government for the last 16 years. My experience crosses over extremely well. I have been part of teams that were teleworking well before COVID, and that has helped me to seamlessly step in to run an office where the average employee is teleworking two to three days per week.

In your previous experience, have you performed or led a team to uncover any fraudulent activity, and if so, what was the result? I have been part of several audit teams that uncovered definite “red flags.” I have never been part of an audit team where “fraud” has been determined through a court of law and the judicial process. However, with the Defense Contract Audit Agency (DCAA), we routinely questioned proposed contract costs in the tens of millions of dollars (and were sustained in negotiations).

These translated into direct savings to the taxpayer and increased money for the warfighter.

What are the differences between you and your opponents? I am only facing one opponent, David Muir, in the general election. The biggest difference between us is that I am a CPA with all of my experience in auditing over the last 16 years. David is not a CPA, and all his experience in auditing occurred before 2005. A lot has changed in the world of auditing since that time. Audits should be conducted in accordance with professional standards, such as GAGAS. What advice would you give to other CPAs running for office? Running for office is a fun and exciting experience.

Make sure you are comfortable with the amount of extra/ side/campaigning work in the evenings and weekends.

Make sure you are familiar with and abide by all the campaign disclosure rules and the Hatch Act laws.

Know that you will be talking to many different people with differing political views, but few and far between who are fellow CPAs or those with a background and understanding of GAGAS. Make sure that you can quickly

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and concisely convey information and the need for auditing.

Realize that running for office entails being in the “public eye,” and you will need to flex your extrovert muscles and personality.

What are your goals, both professionally and personally?

Right now, my professional goals are focused solely on Salt Lake County: Hiring more qualified auditors, growing our office, bringing all of our auditor work into compliance with GAGAS, and getting a clean peer review. I would like to get legislation passed to protect public offices of trust such as county/state auditor and require people running for those offices to be licensed CPAs. I would like to increase the visibility of the county auditor’s office and help people gain a better understanding of the important work we do.

Personally, I would like to improve my skiing such that I can tackle the blue and black diamond ski routes. Currently, I am the bunny hill expert. My main hobby used to be falconry, but family life and work squeezed it out. Once things have calmed down, with campaigning and running the office, I would love to get another bird, maybe a harris hawk, red tail, or kestrel. I also have a goal to get into the sport of power paragliding.

What do you like to do outside of work? Our family loves to go camping each year. Some of our favorite spots are Little Mill, Lava Hot Springs, and Maple Grove campgrounds. I also enjoy just “piddling” around the house and fixing things, and spending time with my wife and kids.

I enjoy watching my kids play sports and/or going to their school concerts. n

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T H E U A C PA B U S I N E S S + I N D U S T R Y C O U N C I L P R E S E N T S

A FREE VIRTUAL SESSION ABOUT

Election Security DATE: FRIDAY, OCT. 28 TIME: NOON - 1 P.M. CPE: ONE (1) HOUR FEES: $30; FREE FOR MEMBERS www.uacpa.org/election

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CPAS IN OFFICE

MEET CENTERVILLE’S CPA MAYOR

Clark Wilkinson was sworn in as mayor of Centerville in 2018 and will serve through 2026. Wilkinson has served as the UACPA Key Person and has been on the board of advisors for the School of Accountancy at Utah State University.

Clark says that the combination of working with clients and volunteering in various positions with the UACPA has been a tremendous benefit and background to what he is doing as mayor. “The bulk of what a mayor does is communicating with people and organizations,” he says. He adds that the CPA profession has been a benefit for being able to do that.

What led you to run for office? Growing up, I was taught to serve family, God, and country. My father served as a state representative and as a district court judge. At the age of 18, he took me to my first mass meeting (they are now called caucuses). From the time that I became a CPA to the present, I have voluntarily lobbied with the AICPA and UACPA for issues affecting the CPA profession and the public. I previously ran for the state senate in 2009 and was unsuccessful. I was approached by a friend in May 2017 to run for city council. Through various circumstances, the next thing I knew, I was running for mayor.

What has been the most rewarding part of your position?

By far, the residents of Centerville. As I went door to door six days a week for five months on my first campaign, I got a feel for the issues that affected the residents› lives the most. People and relationships are the most rewarding and enriching part of anything that we do in life.

What are some ways that CPAs can be involved in the political process if they have no desire to run for public office? Please, please, please volunteer to help. In our city, we have multiple boards and committees, and I am proud to say that I have been able to appoint many CPAs to help in those positions. CPAs can also express their opinions, in a civil way, to their elected officials, because, as CPAs, we are respected. In addition, we as CPAs can help with campaigns in many ways. n

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COMMITTEES

STATE AND LOCAL TAX COMMITTEE

SALT LIMITATION BROUGHT THESE CPAS TOGETHER TO LOOK BEYOND WORKAROUNDS Members can leverage their voices and connect with others, sharing concerns that impact the profession through the UACPA’s committees. The Tax Issues and the State and Local Tax (SALT) Committees work with the Utah State Tax Commission and have influence over policies, supporting other professionals and their clients.

The SALT Committee formed because of the SALT limitation passed by congress in 2017. As states started looking for various workarounds to the limitation, Utah professionals have come together to decide if we should abandon the Utah approach to pass-through entity taxation and what that would entail.

Meet the members of the SALT Committee to learn more about them, their work and what the work with this group could do to help Utah CPA’s clients.

CURTIS C. ANDERSEN, CPA CFO, SWEET CANDY COMPANY

MATT GARDNER, CPA, JD TAX MANAGER, ASSURE

How has/will SALT impact your clients? Sweet Candy Company has been operating for over a century making wonderful confections like salt water taffy, cinnamon bears, and orange sticks. As a profitable S Corporation, our owners are responsible to pay taxes on their share of the company income. Since the SALT cap was passed, the owners have lost the deductibility of the majority of their state income taxes.

How has/will SALT impact your clients? My clients are located across the country with various SALT issues.

State and local tax rules play an important part in their tax planning and investment decisions.

What would you like to see the outcome be working with the SALT Committee? We are grateful for Utah’s responsiveness in providing a SALT workaround law to allow our company to pay and deduct state taxes on the corporate return. The SALT Committee is trying to assure the tax form instructions allow and explain a practical approach to applying the law. If possible, we desire the credit created by the cash payment of Utah taxes to be refundable.

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What would you like to see the outcome be working with the SALT Committee? I appreciate the opportunity to participate on the SALT Committee. My hope is that we can bring clarity to the developing tax legislation and help create and maintain an efficient tax system.

MK MORTENSEN, CPA PARTNER-TAX, GRANT THORNTON, LLP How has/will SALT impact your clients? It should impact most of our partnership clients.

What would you like the outcome to be working with the SALT Committee? Solid understanding of how to efficiently deal with the PTE to service clients.

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J.W. DAVIES, CPA CO-FOUNDING PARTNER, DAVIES ALLEN

TATIA BEASLIN, CPA SENIOR TAX MANAGER AT EIDE BAILLY

How has/will SALT impact your clients? Utah’s recent passing of HB444 is a huge win for our clients who are mostly small- and medium-sized business owners. More than 99% of these businesses are taxed as S Corps and partnerships (PTEs). This new law allows PTEs to pay the state income tax caused by its net income through the business bank account and thereby make those state income tax payments tax deductible expenses on their federal tax returns. This is a significant tax benefit since the ability to deduct state income taxes was significantly limited by the Tax Cuts and Jobs Act starting in 2018. We are proactively advising our clients to prepay their state income tax through their PTEs before year-end.

How has/will SALT impact your clients? The SALT limitation has disallowed thousands of dollars of true expenses from being deducted on my clients’ tax returns. The outcome I wanted is already happening. Clarification in the instructions that will help people feel comfortable in using the tools we have to reduce our clients’ tax expense.

What would you like the outcome to be working with the SALT Committee? My hope in working with the SALT Committe is to help all Utah professionals involved to see the value in the passing of this recent legilsation. Yes, it causes some extra complexity in the preparation of a tax return, but the value added to our clients is worth it. In addition, it’s important that we wrap up administrative loose ends or questions remaining before the implementation of this law this upcoming tax season.

KACEELYN POUTTU, CPA TAX MANAGER, EIDE BAILLY

RUSTY HANSEN, CPA TAX PARTNER, DAVIES ALLEN How has/will SALT impact your clients? This will help my clients by allowing them the opportunity to deduct state taxes paid without being limited by the SALT cap of $10,000.

This also puts Utah in alignment with most other states that have implemented a workaround of the SALT cap. This puts Utah businesses on an equal playing field when it comes to deducting state taxes paid.

What would you like the outcome to be working with the SALT Committee? To see some of our recommendations be implemented such as the refundable credit instead of having any overpayment carry forward.

What would you like the outcome to be working with the SALT Committee? It has been so rewarding to come together as a team and discuss and feel like we’ve had a positive impact for not only our clients, but also our fellow tax practitioners!

How has/will SALT impact your clients? Specifically, the impact from the pass-through entity legislation will impact just about every client of mine. A majority of my clients have felt an impact from the SALT cap at the individual level and it will be great to have a workaround so they can benefit in some capacity, no matter how small. This is another item to start planning for again in December, and I am looking forward to having one more item to discuss with my clients once the guidance for this legislation is nailed down. There is something to consider for each pass-through business entity, and even if it isn’t the best fit for each client to take the deduction, it will be worth the effort and discussion.

What would you like the outcome to be working with the SALT Committee? I am happy to represent the interests of my clients and my firm on the SALT Committee. My hope is to bring any anticipated issues to the attention of our think tank so we can push to resolve these issues. Not every wish will be granted in making this a workable passthrough entity tax, but being on the committee, I will at least understand why certain items can’t be pushed. n

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DISCOVER COLLABORATION AND DISCUSSION ON UACPA CONNECT

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UACPA CONNECT WILL HELP YOU • Send messages to other UACPA members • Ask questions and learn from other CPAs • Collaborate and share ideas with like-minded professionals • Find discussions or create a new one

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Get Started!

1. Log into Connect Get to UACPA Connect from our website at uacpa.org and select it from the drop down menu at “My UACPA” or directly at connect.uacpa.org.

2. Find groups and start or participate in discussions • Go to My Group Pages > My Groups to see any committees or groups you are currently a member of.

• Use Find Group to Join to find and join in group discussions.

• Visit any group page to read updates, reply, or Post a New Discussion.

3. Set your profile and notification settings • Click on My Account > My Profile in the gray navigation bar on the left side of the page.

• From here you can upload a photo, add bio information, and select your notification settings.

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The following demographics come from Zippia.com using a database of 30 million profiles and creating an estimate of statistics for working CPAs in the U.S.

BY THE

NUMBERS CPA DEMOGRAPHICS

465,039

NUMBER OF CERTIFIED PUBLIC ACCOUNTANTS CURRENTLY EMPLOYED IN THE UNITED STATES

57 43 67 94

PERCENTAGE OF CPAS WHO ARE WOMEN AVERAGE AGE OF CPAS WHO ARE EMPLOYED

PERCENTAGE OF CPAS WHO ARE WHITE FOLLOWED BY ASIAN (11.3%) AND HISPANIC OR LATINO (10.5%) PERCENTAGE OF WHAT WOMEN EARNED COMPARED TO MEN IN 2021

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PERCENTAGE OF CPAS WHO ARE AGES 40+; AGES 30–40 (27%) AND AGES 20–30 (13%) 15

2022 AWARDS

CELEBRATE CPAS

This year’s Inauguration & Awards Banquet was held Thursday, Sept. 22, at Awaken Event Center. Awards were presented to members nominated by their peers and selected by members of the nominations committee. Newly licensed CPAs were recognized and inducted into the profession. The 2022 award recipients honored include the following:

DISTINGUISHED SERVICE Brent R. Hall, CPA Brent has enjoyed working as a CPA in public accounting for 39 years. In addition to the lifelong friendships with clients, Brent most enjoys the opportunity to work with three of his children who are also CPAs. As a resident of Washington County, Hall has been involved in scouting, church service, coaching youth sports, community boards, and in the Republican Party. He also served on the UACPA Political Action Committee for 10 years, most recently as the chairman in 2020. Brent also helped restart the accounting class at Dixie High School 20 years ago as part of a UACPA education program. Brent’s family has a cattle ranch where he enjoys getting out of the office. Brent is a BYU football season-ticket holder and loves to cheer for the Cougars. Even more, he enjoys playing football and doing other activities with his family. Brent’s favorite vacation is to tour church history sites from Vermont to Winter Quarters and Martin’s Cove.Brent and his wife, Gina, have six children and 16 grandchldren.

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OUTSTANDING EDUCATOR Troy K Lewis, CPA, CGMA Troy is a professionally qualified associate teaching professor and the associate director of students in the School of Accountancy at Brigham Young University. His teaching philosophy and style integrate his professional experience and service with taxation theory to produce entertaining and transformative experiences for his students that help his students be prepared both academically and professionally for careers in accounting. Troy is the past chair of the Tax Executive Committee of the American Institute of CPAs (AICPA) in Washington, DC. He has been active with the AICPA and the Utah Association of CPAs for over two decades serving in key leadership positions including the president of the UACPA.

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OUTSTANDING LEADERSHIP COUNCIL MEMBER Richard William Mahoney, CPA Rich has more than 30 years’ experience in public accounting and business operations. He has worked in various positions over the years serving as a staff accountant, accounting manager, controller, operations manager and vice president of finance. Richhas worked in many different industries including distribution, construction and property management. He has been married to his wife, Lisa, for 38 years. They have six children — four boys (two are US Marines) and two girls. They also have five grandchildren. They both grew up in the San Francisco Bay area and moved from Modesto to Utah in 1994. They have lived in Vernal since 2012. Rich is a 3rd generation accountant — both his father and grandfather were controllers.

Rich enjoys golf, hunting, fishing and traveling to historic places. Currently, Rich has visited 44 of the U.S. states and is working to get the last six.

OUTSTANDING CPA IN BUSINESS & MANAGEMENT

OUTSTANDING CPA IN PUBLIC PRACTICE Travis Nielsen, CPA

Gavin Hutchinson, CPA

Dan Frei, CPA Dan Frei is a seasoned business executive with more than 20 years of leadership and finance experience.

He currently is the finance director with the State of Utah’s central technology entity, leading a team of 70 professionals. Prior to working in the tech sector, Dan provided budget and policy guidance for Gov. Walker and Gov. Huntsman. He also worked for the state’s unemployment insurance and for a fortune 500 insurance company. Dan is recognized for his financial acumen, leading projects, getting along with diverse teams, and contributing directly to company growth and expansion. This culminated recently with Dan leading the biggest IT project in state of Utah history moving the state’s data center. Dan and his wife of 23 years, Lisa, have six children and live in Bountiful.

OUTSTANDING CPA IN NONPROFIT & GOVERNMENT

Travis Nielsen is a partner at Moss Adams LLP and a national serviceline leader of the firm’s Business Risk Services consulting practice, with broad experience in all aspects of accounting, auditing, financial management, and process improvement. He possesses expertise in Sarbanes-Oxley (SOX) compliance and complex technical accounting issues. Travis, along with Gordy Jacobsen, founded The Cadence Group in 2005, which combined with Moss Adams in 2021. At Cadence, he built an 80+ person firm and helped recruit more than ten people who are now Moss Adams Partners. Additionally, he was directly responsible for recruiting and retaining two directors, ten senior managers, and dozens of seniors and associates. Travis holds a MAcc at Brigham Young University, has worked in the assurance and business advisory practices at PwC, and taught accounting classes as an adjunct professor at Westminster College.

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Gavin is the president of EnableUtah, a nonprofit organization in Ogden.

EnableUtah provides training and job experience to people with special needs to help them achieve greater independence and a higher standard of living. Gavin has been involved in various UACPA committees and served as the 2017 - 2018 UACPA president.

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RISING STAR

LIFETIME MEMBER

R. Mark Ashby Jr., CPA

Stephen Johnson, CPA

Mark Ashby graduated from Southern Utah University with his bachelor’s in 2013 and master’s in 2014. He worked for almost five years as an auditor at Haynie & Company. He currently enjoys his role as a controller for Finch, LLC. Ashby loves working on his yard, camping and spending time with his beautiful wife and their three children.

Stephen Johnson formed Johnson & Company, P.C. in 1998 and credits his success to his employees and clients throughout the years. After graduating from the University of Minnesota in 1975 with a BS in accounting, he worked in Minnesota and returned to Utah in 1979.

Stephen has been an AICPA member since 1978 and a UACPA member since 1979. “I have always said, ‘I don’t live to work, but work so I can live.’” He enjoys skiing, hunting, playing handball and attending sporting events. He married Xiu Hong (Tracy) Yu nine years ago and has three daughters, two sons (one of which is a CPA), two step daughters and seven grandchildren.

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UTAH STATE BOARD OF ACCOUNTANCY Carey Woolsey, CPA Carey Woolsey worked in public accounting for nine years before joining a local manufacturer where he worked as the CFO/controller. In 1996, he joined a large nonprofit organization with global reach as an internal audit specialist. He has worked here for 26 years in internal audit, finance, and for the past 10 years at an affiliate, Ensign Peak Advisors, as the chief accounting officer. In essence, Carey has spent 25 years writing about how to fix things and 13 years actually fixing them. Carey has served in various positions of leadership at the UACPA, including president in 2010 - 2011. Carey has served on the Utah State Board of Accountancy for eight years, and as chairperson for the last two. Woolsey and his wife, Judy, have four sons and 12 grandchildren. Three of his sons are accountants, two are CPAs, and one daughter-in-law has an accounting degree.

AICPA WOMEN TO WATCH: EXPERIENCED LEADER

AICPA WOMEN TO WATCH: EMERGING LEADER

AICPA WOMEN TO WATCH: EMERGING LEADER

Lynn Livingood Dixon, CPA

Nicole Jensen, CPA

Melanie Spencer, CPA

Lynn Livingood Dixon is the associate dean of finance and administration for the University of Utah College of Nursing. Lynn leads multiple other College of Nursing teams in addition to finance, including communications, systems & technology, human resources, facility management, and strategic initiatives, and is a key member of the college’s leadership team. Lynn previously worked as a statistician for the U.S. Department of Agriculture for eight years, then pivoted to finance and accounting.

Lynn holds a Bachelor of Science in mathematics from Clarion University of Pennsylvania and a Master of Business Administration from the University of Utah. Livingood Dixon helps several nonprofits throughout Utah. She is a longtime member of the finance committee of the National Ability Center (NAC). She currently is the treasurer for both the Utah Women’s Forum (UWF) and Clean Slate Utah (CSU). She served as the treasurer for Utah Support Advocates for Recovery Awareness (USARA) for six years.

Nicole is one of the founding members and CFO of Avenues Financial. She began her career as an internal auditor for a supply chain logistics company and subsequently held positions within the corporate accounting team.

She was responsible for preparing monthly financial statements, reconciling balance sheet accounts, and maintaining reporting for more than 10,000 assets.Then, Nicole joined a financial consulting firm where she worked on several initial public offers (IPO), assisted large companies in cleaning up their financial statements, and helped companies complete their SOX 404 compliance. Today, Nicole consults with business and individual clients in many financial and accounting aspects. She has a wide range of accounting experiences, enabling her to provide relevant and timely advice and assistance to business owners with their internal accounting, periodic reporting, forecasting, budgeting, and cash flow management.

Melanie Spencer holds a master’s in accounting and a bachelor’s in finance.

Before she committed to accounting, she owned and operated a coffee shop in Salt Lake. Her passion for numbers, love of coffee, and entrepreneurial spirit has brought her full circle: she is currently the controller for Beans & Brews Coffeehouse corporate offices.

Melanie has held a variety of positions in both public accounting and industry, having previously worked at both Squire and the Larry H. Miller Group.

She attended the UACPA’s Leadership Academy and volunteers on the Emerging Professional’s Committee.

Spencer is a champion for individuals looking to forge their own career paths.

She hopes to continue using her own knowledge and experiences to uplift and develop those around her. She is excited to continue her development as a female leader in the industry and treasures the amazing mentorship she received from her colleagues at Squire. Spencer enjoys golfing, attending Jazz games or taking a cruise with her eight-year-old son.

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CONGRATULATIONS

WELCOME, NEW CPAS

Every year, we welcome the newest professionals by honoring them for the time and effort they have spent to earn the CPA designation. The following individuals were licensed between August 2019 and July 2022.

Jennifer L Anderson, CPA Spencer Berrett, CPA Cynthia Bell, CPA Makenzie Bell, CPA Hunter Bigelow, CPA Madeline Biggs, CPA Blaire Bitton, CPA Kara Bowers, CPA Andrew Brewer, CPA Sandra Bullock, CPA Isaac Campbell, CPA Michael Cannon, CPA Hyungsuk Choi, CPA J. Elizabeth Clements, CPA Heather Denison, CPA Kaity Dixon, CPA Andrea Dover, CPA

Andrew Thomas Driggs, CPA Jonathan Gardner, CPA Garrett Gibson, CPA Edwin Alan Aguirre Gonzalez, CPA Corinne Gustafson, CPA Madeline Rose Hair, CPA Sierra Hart, CPA Joshua Hinkle, CPA Zeyu Hua, CPA Trae Johansson, CPA Taylor Jones, CPA Tomas Jurkuvenas, CPA Darriel Keeling, CPA Jennifer Kennedy, CPA Marissa Klebenow, CPA Kya Nikkole Kraus, CPA Craig N. Lewis, CPA

Kurt Lamprecht, CPA Garrett Lee, CPA Nathan Lee, CPA Ryan Lee, CPA Jesse Michaels, CPA Adam Nance, CPA Angel Paredes, CPA Shannan Peel, CPA Adam Seelos, CPA Oliver T. Shapcott, CPA Zhenwei Zhang Shepherd, CPA Eliza Shippen, CPA Steven Struiksma, CPA Rebekah Thomas, CPA Ashley Wardle, CPA Jennifer D. Yakumo, CPA

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PHOTOS

AWARDS + INAUGURATION

The UACPA celebrated newly licensed CPAs, outstanding members and 100% firms at the Annual Inauguration and Awards event. This year’s “Top Gun” theme saw guests earning a “Top CPA” patch before hearing from a F-35 pilot, Maj. Michael “FLASH” McVay. See a complete list of award winners on page 16 and newly licensed CPAs on page 20. See more photos at uacpa.org/awards22.

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MEMBERSHIP

NEW MEMBERS

Congratulations to the following individuals who were approved for membership in the UACPA as of Aug. 31, 2022.

Jonathan Aitken Human Interest

Garrett Gibson Adams & Petersen, CPAs, LLC

William Hoffman Utah Valley University

Bradley Saunders Wiggins & Co., P.C.

Lauren Aldrich

Braxton Godderidge Cook Martin Poulson, PC

Luna Lu Ernst & Young

Matthew Schmucker America First Credit Union

Dalton Haberl HintonBurdick CPAs & Advisors

Jeremy Masteller CBIZ MHM, LLC

Alyssa Smith Tanner LLC

Bradley Nichols Andersen Tax

Katie Tripp Pelion Venture Partners

Robert Hardy

Derek Pettit A-Core Concrete Specialists

Tiffin Tullis

Lucas Harris Ernst & Young LLP

Damir Sabanovic Dominion Energy

Clint Allen Randall Allen Zions Bancorporation Justin Call Jared Carlisle Raymond DeWitt Bangerter Financial

Jesse Hales Nebo School District

Koby Watanabe Deloitte William Wiscomb

STUDENT AFFILIATES Brigham Young University Victor Escudero LDS Business College Kristina Tycksen Kateryna Pavlenko Park University Rachel Royse UCLA Steven Watson Utah Valley University Anungoo Bayarkhuu Hannah Rosell Colton Gourley Jade Thigpen Nathan Martin

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Jacob B. Hess Diego A. Morales Kobe Gross Cavy M. Tryon Brantley Johnson Collin Fonda Javier Sueng Weber State University Michael Saunders Western Governors University – Utah Bria Williams Terrance Clark Alyssa Herrman Douglas Rinderknecht Teri Masterson Laila Jasani

Erica Peebles Suzanne Gaines Joni Anderson Nathan Wallace Kate Coleman Micah Shaw Jessica Wilson Anna Kelsey Holly Meza Valerie Kramer Jaime Stunich Alexandra Owens Lindsey Cole EmmaLeigh Pierson Anna Montesano Tiffany Richey Andrew Payne

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Unknown School Devin Bryant Elijah J. Lindsey Cinnamon Smith Nadia Brittner Austin Kirkman Kory Hernandez Helen I. Emefo Sydney Starr Parker Ling Xinyu Zhang Lainey Anthony Nicholas P. Levy Capeto Alyxis Warden Preston S. Yadon

MEMBERSHIP

MEMBERS IN THE NEWS

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Do you or your firm have news to share? Send the details to Amy Spencer, as@uacpa.org.

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Inside Public Accounting has published their list of “The Best of the Best” for 2022 and features three Utah-based firms. The list includes Squire & Company PC, Tanner LLC and WSRP. FORVIS, who has an office in Salt Lake City, was also included on this list. The top 50 Best of the Best Firms are selected exclusively on their performance in specific key areas of management, growth and strategic vision. These Best of the Best Firms are considered the highest-performing public accounting firms across North America.

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PHOTOS

MONEY CAMP ACTIVITY

The UACPA partnered with Weber State University and UMB to hold the second annual Money Camp in June with a select group of high school students from Weber County. The first part of the camp is a three-day event with activities and learning to showcase the opportunities that come with a career in accounting. Throughout the year, Money Camp attendees will participate in activities to support their education and learning.

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PHOTOS

GOLF TOURNAMENT

The annual golf tournament fundraiser for the Utah CPA Foundation was Thursday, Aug. 11 at Cedar Hills Golf Club. More than $10,000 was raised to support the future of the profession through activities like Money Camp. Thank you to our sponsors, Zoho, Source Advisors, Beehive Insurance, Human Interest, Apex Golf, My529, Safeguard, FORVIS and Paychex.

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BOARD QUESTION

WHAT ARE YOUR THOUGHTS ON A HYBRID WORK ENVIRONMENT AND THE FUTURE? Ray Langhaim, CPA

Dustin Wood, CPA

“While the hybrid work environment has been working well, I miss the five min fly-by meetings. Meeting in person seems to build energy for me, so the more the better. The small interactions, joking and laughing with people is missed, but I try to make it up on video meetings. I miss all the free food and not having to fix my lunch all the time.”

“There are social interactions that occur naturally in an in-person office environment that can’t be replicated in a remote setting.

My team has benefited from being able to pop into offices to discuss and address quick questions on projects where phone calls or emails would be less efficient and effective.”

Stacy Weight, CPA

Jason Tomlinson, CPA

“Hybrid working makes it much more difficult to build and retain relationships. I have had to shift and be very intentional about those touchpoints to keep the connection with my teams.”

“I miss the opportunity to quickly bounce ideas and thoughts off coworkers as I come across an issue. I feel there is a loss of shared experience and potential to stumble on a new solution for problems. We don’t all see the same issues day after day and can benefit from the experiences and impromptu brainstorming with others.”

Annette Anderson, CPA

Eric Greene, CPA

“The hybrid work environment is a win-win situation! In the office, there is cohesion through social interactions and shadowing.

From home, there are less distractions, which allows you to focus better and gain personal time efficiency by saving the commute time. I feel employee morale and efficiency marks the new hybrid work environment.”

“It takes deliberate and intentional effort to build strong relationships and a positive team culture when you are in a hybrid work environment. If no relationship or culture initiatives are prioritized with a unique hybrid environment, I believe that it is inevitable for there to be negative repercussions with the team.”

Susan Speirs, CPA

Paul Skeen, CPA

“With a hybrid environment, we have many more opportunities to hire from outside our past geographical parameters. With that comes challenges to create a culture that is inclusive for those who do not attend the physical office everyday and an environment where individuals will not be passed up for progression.“

“Initially, I missed consistently seeing many of my co-workers. As Eide Bailly has adapted to a hybrid model, we have become better at communicating when we will be where.

In-person connections are far more frequent.

When I see someone I have not seen in a while, it is like a mini reunion.”

Not pictured: Chris Skousen, Tad Tuttle, Mark Anderson

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STAFF CHAT

WHAT ARE YOU WORKING ON AT THE UACPA THIS TIME OF YEAR? Amy Spencer

“As the staff liaison to the Emerging Professionals and awards committees, we have held the Inauguration & Awards banquet and Leadership Academy. In addition to marketing classes and events, I am gearing up for the Tax Tips radio campaign on KSL that begins in January.”

April Deneault “I am working on planning the Annual Conference and Technology Conference and coordinating with the Business & Industry Council on the B&I series/field trips and helping chapter presidents schedule meetings. I am also working with campus ambassadors to plan the Student/ Educator Conference for January.”

Tom Horn, CPA “This year has been an anomaly due to wrapping up the audit, adding the Utah CPA Foundation accounting to our system, and hustling to make the golf tournament a success. Currently, I’m catching up and working on projecting what our year-end financials will look like.

Budget planning will be next in line.”

BOARD BRIEF

THE LATEST ACTIVITIES WITH THE BOARD • The UACPA Nominations Committee presented candidates for awards to be presented at the Inauguration & Awards Banquet on Sept. 26. Candidates were approved unanimously.

• The board ratified the motion to accept the annual audit from Larson & Company. There was discussion about lengthening the term of the audit firm to five years, rather than three, and to not consolidate the PAC with the rest of the audit.

• Discussion was held regarding the challenges Utah CPA candidates have with NASBA and the role the UACPA has played to get them qualified to take the Exam. Also an update on the Education Advisory Committee under the State Board of Accountancy regarding examination of current rules to sit for the Exam and how that impacts the new CPA Exam coming Jan. 1, 2024.

D • Discussion was held regarding the membership survey results. Pipeline continues to be a challenge that members are concerned about and will address at our January Leadership Council meeting.

IN MEMORIAM Orvil Kay Terry April 5, 1925 – Sept. 15, 2022 Member since 1962

Susan Speirs, CPA “Since this a reporting year, I’ll be helping your organizations fulfill the one hour Utah Laws and Rules requirement on top of continued Pipeline projects, AICPA Council, NASBA meetings, Leadership Academy, preparation for the 2023 legislative session and university activities with our student members.“

Tyler Hall March 22, 1987 – Sept. 30, 2022 Member since 2012

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IF YOU ARE READInG THIS...

So Is Your Buyer!

CONNECTING MORE SELLERS AND BUYERS

Ryan Pannell Ryan@APS.net

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800-397-0249 www.APS.net

MEET A MEMBER MATTHEW GARDNER, CPA, JD What led you to become a CPA? I knew it would be important to have the CPA credential. I always believed it would provide the right foundation for my business career.

What would surprise people to know about you? I can spend hours in cathedrals and museums admiring the art and architecture.

What is your favorite book? “The Devil in the White City” What do you like to do outside of work? I love to spend time with my family. I enjoy hiking with our dogs. I also ski, play tennis, and

M

atthew Gardner, CPA, JD, is a Las Vegas native who moved to Salt Lake City where he attended junior high and high

school. Now a tax manager at Assure, Gardner earned his accounting degree from the University of Utah and a law degree from Brigham Young University. He worked in a law firm after graduation, and then focused his career on financial roles. He has 25 years of tax and accounting experience, including his time as a tax director within a Fortune 100 global transportation company and the CFO of a biopharmaceutical company, leading the financial team that took the company public in December

golf whenever I can.

What are some of your goals both personally and professionally? I would like to research, design, and install a xeriscape yard for our home. I would also like to increase my volunteer contributions to the accounting community.

What advice do you live by? I love “The Four Agreements” by Don Miguel Ruiz. He suggests the following principles to guide our lives:

2020. Gardner and his wife have been married almost 30 years and have one daughter and two dogs.

• Be impeccable with your word • Don’t take anything personally • Don’t make assumptions

How have you been involved in the UACPA? I have attended

• Always do your best

n

UACPA continuing education events and conferences for years.

I attended the UACPA Leadership Academy and currently participate on the SALT Committee and Tax Issues Committee.

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UACPA Virtual Courses CPECourseSchedule Register online at uacpa.org, or call the UACPA office at 801-466-8022.

DATE

CPE

COURSE TITLE

INSTRUCTOR

VENDOR

NONMEMBER FEE

MEMBER FEE*

October 10/17/22

2

Working Paper Documentation

Charles Borek

AICPA

$94

$79

10/17/22

8

CFO Series 360 Degree Budgeting

Bob Mims

The Knowledge Institute

$309

$259

10/18/22

4

10/18/22

4

Project Management: Tips, Tricks, and Traps

Arthur Pulis

Surgent

$189

$164

Project Management for Small and Medium-Sized Enterprises

Arthur Pulis

Surgent

$189

$164

10/19/22

4

Performing an Effective Audit Risk Assessment

10/20/22

8

Annual Tax Update: Corporations and Pass-Through Entities

Michael J Morgan

Surgent

$189

$164

Bruce Nelson

AICPA

$309

$259

10/21/22

8

Form 990: Best Practices for Accurate Preparation

10/25/22

4

Section 199A: Applications and Challenges

Thomas Sheets

AICPA

$309

$259

Michael E Reilly

Surgent

$189

$164

10/26/22

8

Creative Strategies for Buying, Selling, or Gifting a Busines

Arthur Werner

Werner-Rocca Seminars, Ltd.

$309

$259

10/27/22

8

International Taxation

Adnan Islam

AICPA

$309

$259

10/28/22

4

Social Security and Medicare: Maximizing Retirement Benefits

10/31/22

8

Surgent’s Handbook for Mastering Basis, Distributions, and Loss Limitation Issues for S Corporations, LLCs and Partnerships

William Taylor

AICPA

$183

$158

John Sherrick

Surgent

$309

$259

11/1/22

4

11/1/22

4

The Most Critical Challenges in Governmental Accounting Today

Michael Morgan

Surgent

$189

$164

The Most Critical Challenges in Not-for-Profit Accounting Today

Michael Morgan

Surgent

$189

$164

11/2/22

8

CFO Series Fine Tune Your Finances

Don Minges

The Knowledge Institute

$309

$259

11/3/22

8

Accounting and Auditing Update for Small Businesses

11/7/22

2

Performing Preparation, Compilation, and Review Engagements

Kurt Oestricher

AICPA

$309

$259

Joann Cross

AICPA

$94

$79

11/7/22

2

Revenue Recognition: Determining and Allocating the Transaction Price

Joann Cross

AICPA

$94

$79

11/7/22

8

Integrated Estate, Financial, and ASset Protection Planning - A Breathrough Approach

Arthur Werner

Werner-Rocca Seminars, Ltd.

$309

$259

11/8/22

8

K2’s Excel Best Practices

11/8/22

8

The Best Estate and Financial Planning Topics of 2022

11/9/22

4

11/14/22 11/14/22

November

TBD

K2 Enterprises

$309

$259

Arthur Werner

Werner-Rocca Seminars, Ltd.

$309

$259

Employer’s Handbook: Health Care, Retirement, and Fringe Benefit Tax Issues

Jason W. Carney

Surgent

$189

$164

8

U.S. GAAP: Review of New Guidance and Hot Topics

Taylor Summer

8

K2’s 2022 Technology Seminar

11/16/22

4

Guide to Payroll Taxes and 1099 Issues

11/16/22

4

IRS Tax Examinations and Hot Issues

11/21/22

8

CFO Series Creating Competitive Advantage

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AICPA

$309

$259

K2 Enterprises

$309

$259

Deborah A. Phillips

Surgent

$189

$164

Deborah A. Phillips

Surgent

$189

$164

John Daly

Executive Education Inc.

$309

$259

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DATE

CPE

COURSE TITLE

INSTRUCTOR

VENDOR

NONMEMBER FEE

MEMBER FEE*

november 11/28/22

16

S Corporations: Hot Issues of 2022 Webcast

Robert Jamison

Robert W. Jamison CPA

$500

$450

11/30/22

4

Common Deficiencies in SSARS Engagement

Melisa Galasso

Galasso Learning Solutions

$183

$158

12/2/22

4

IRS Disputes

Arthur Auerbach

AICPA

$183

$133

12/2/22

8

S Corporations: Advanced Workshop

Robert Jamison

Robert W. Jamison CPA

$309

$259

12/6/22

4

Choice and Formation of Entity

Brian Greentein

AICPA

$183

$158

12/6/22

8

CFO Series: Financial Communications

Brian Maturi

The Knowledge Institute

$309

$259

12/6/22

4

Accounting & Auditing Update for Small Businesses

Melisa Galasso

Galasso Learning Solutions

$183

$158

12/7/22

2

Government GAAP Update

Melissa Galasso

Galasso Learning Solutions

$94

$79

12/7/22

8

Preparing Individual Tax Returns for New Staff and Paraprofessionals

Don P. Cochran

Surgent

$309

$259

12/8/22

8

Multistate Tax Update

Don P. Cochran

Surgent

$309

$259

12/9/22

4

K2’s An Accountant’s Guide to Blockchain and Cryptocurrency

TBD

K2 Enterprises

$183

$158

December

12/9/22

4

K2’s 2022’s Biggest Security and Privacy Concerns

12/13/22

8

Hottest Tax Topics for 2022

TBD

K2 Enterprises

$183

$158

Nicole Derosa

AICPA

$309

$259

12/14/22

8

Compilations, Reviews, and Preparations: Engagement Performance and Annual Update

Joann Cross

Joann Cross

$309

$259

12/15/22 12/16/22

8

Revenue Recognition: Mastering the New FASB Requirements

Joann Cross

Joann Cross

$309

$259

8

Leases: Mastering the New FASB Requirements

Joann Cross

Joann Cross

$309

$259

12/27/22

8

Making the Best of Bad Situations

Arthur Werner

Werner-Rocca Seminars, Ltd.

$309

$259

Technology Conference Dec. 16 - 17

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2022 LECTURE SERIES Oct. 26 - Trends in the Profession Nov. 16 - Cost Segregation Update www.uacpa.org/lecture

TECH TALKS

OCT. 11 Data Protection NOV. 8 AI and Machine Learning

Earn one hour of CPE at these free sessions.

JAN. 10 Cyber Insurance FEB. 14 Blockchain Fundamentals

www.uacpa.org/techtalks

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UACPA MISSION MISSION

CONGRATULATIONS

100% FIRMS Congratulations to the firms and businesses currently participating

The UACPA leadership supports and challenges members through advocacy, professional education, leadership development, networking, and community service to help them succeed in a

in the UACPA’s 100% membership program. This demonstrates their commitment to the profession, to the association’s high ethical standards and lifelong learning.

competitive and changing world.

PUBLIC PRACTICE

VISION

• • • • • • • • • • • • • • •

At the UACPA, our vision is to be a world-class professional association essential to our members.

We unite a vibrant community of CPAs to enhance the success of our members and champion the values of the profession; integrity, competency, and objectivity.

VALUES Advocacy The UACPA represents the profession at the legislature and other regulatory bodies and promotes the value of the CPA to employers, the business community, and the public at large.

Firms with 10 or more full-time CPAs are eligible

Leadership & Service

to be a part of the 100% membership program.

The UACPA provides leadership and service within the profession,

Call our membership team to

within the UACPA, and within the community.

sign up, 801-466-8022.

Professional Development The UACPA supports and encourages continuing education and leadership development.

Professional Community The UACPA reinforces peer accountability to encourage members to maintain integrity and high ethical standards. ​​It provides member-tomember networking opportunities and networking opportunities with other professions. It values belonging to a distinguished organization and believes that we serve as the primary resource and point of contact for Utah CPAs.

Diverse Population Outreach The UACPA believes in reaching out to under-represented populations, those returning to the profession or choosing it as a second career, and other professions.

Adams & Petersen CPAs FORVIS CBIZ MHM, LLC Cook Martin Poulson, P.C. Davis & Bott, Certified Public Accountants, L.C. Eide Bailly Haynie & Company HBME HintonBurdick Jones Simkins LLC PricewaterhouseCoopers Savage Esplin & Radmall, PC Squire & Company, PC Tanner LLC WSRP

CLASSIFIEDS Utah Practice For Sale: Gross Revenues Shown: Coming soon Salt Lake City (Sugar House Area); For more information, please call 1-800-3970249 or visit www.AccountingPracticeSales.com to see listing details and register for free email updates to be notified first of new/upcoming listings.

THINKING OF SELLING YOUR PRACTICE? Accounting Practice Sales is the leading marketer of accounting and tax practices in North America. We have a large pool of buyers, both individuals and firms, looking for practices now. We also have the experience to help you find the right fit for your firm, negotiate the best price and terms and get the deal done. For more information, please visit our website at www. accountingpracticesales.com Interested in Buying a Practice? See local and nationwide listings at www.AccountingPracticeSales.com and register for free email updates.

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Nonprofit Org. U.S. Postage

PAID

Salt Lake City, UT Permit No. 1996 UTAH ASSOCIATION OF CPAS 15 W. SOUTH TEMPLE, STE 1625 SALT LAKE CITY, UT 84101

ANNUAL CONFERENCE December 8 - 9

Grand America Hotel, 555 S. Main St. + Virtual 8 - 4 p.m. | 16 hours CPE www.uacpa.org/annual

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