WashingtonCPA 2018 Spring

washington

CPA Spring 2018

Volume 61, Number 4

Washington Women in Accounting Advancing Women in CPA Firm Leadership Roles

New WSCPA Purpose Statement & Strategic Plan: Stimulating Change and Progress Thank You to CPAPAC & Washington CPA Foundation Contributors Washington State Board of Accountancy Revises Rules on Cloud Services & Client Records

www.wscpa.org

Imagine... a chair without a desk

Delivering Results - One Practice At a time

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WashingtonCPA Spring 2018

Mark Hause

877-345-7722

markhause@contactaps.com

www.APS.net

www.wscpa.org

wa s h i n g t o n

CPA www.wscpa.org • memberservices@wscpa.org Tel (425) 644-4800 • Toll free in WA (800) 272-8273 Fax (425) 562-8853 902 140th Ave NE Bellevue, WA 98005-3480

BOARD OF DIRECTORS Thomas G. Donaghy Chair Kirsten S. Duke Vice Chair Amanda V. O’Rourke Treasurer David E. Trujillo Secretary David J. Miniken Immediate Past Chair Kimberly D. Scott President & CEO

Erika C. Amezquita Kristine L. Lambright

Dawn E. Beck Moses S. Man

Justin A. Bourn Rhonda S. Powell

Christina J. Gehrke Michael W. Reeves

Brett J. Jordan Jared M. Theis

Mary E. Joyce Ronald L. Tilden

Lowel J. Krueger

CHAPTER BOARD CHAIRS

Andrew Whitman Bellevue Area

Lydia Ahn Bellingham Area

Sarah Ozanne Everett Area

Carrie Munson Olympia Area

Allison McClure Seattle Area

Jillian Robison Spokane Area

Angela Chase Tacoma Area

Sara Bailey Tri-Cities Area

Ursula Perkins Vancouver Area

Jessica Walkenhauer Yakima Area

Jeanette Kebede Cory Wilmarth

Editor Assistant Editor

The WashingtonCPA is published by the Washington Society of Certified Public Accountants for its members.

Views and opinions appearing in this publication are not necessarily endorsed by the WSCPA. The products and services advertised in The Washington CPA have not been reviewed or endorsed by the Washington Society of Certified Public Accountants, its board of directors, or staff.

The WashingtonCPA (USPS 009754) is published four times annually by the Washington Society of Certified Public Accountants, 902 140th Avenue NE, Bellevue, WA 98005-3480. $12 of members’ annual dues goes toward a subscription to The WashingtonCPA.

CONTENTS 4

New WSCPA Purpose Statement & Strategic Plan: Stimulating Change and Progress

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So Many Good People, So Little Time

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Advancing Women in CPA Firm Leadership Roles

14 2018-2019 Board of Directors Nominees 18 Thank You to CPAPAC & Foundation Contributors 23 Hill Day: The View from a Young Professional 26 Washington State Board of Accountancy Revises Rules on Client Records

28 Washington State Board of Accountancy Revises Rules on Cloud Services

Periodicals postage paid at Bellevue, Washington and additional mailing offices.

Cover photo: © iStock/PeopleImages POSTMASTER: Send address changes to The WashingtonCPA, c/o WSCPA, 902 140th Avenue NE, Bellevue, WA 98005-3480.

DEPARTMENTS 4 12 23 30

www.wscpa.org

Leadership Lens News Briefs Advocacy Chapters

31 35 38 38

CPE Digest Conferences Classified Ads Crossword Puzzle

WashingtonCPA Spring 2018

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LEADERSHIP LENS

New WSCPA Purpose Statement and Strategic Plan: Stimulating Change and Progress

By Kimberly Scott, CAE, President & CEO

New Purpose Statement In order to build the strategic plan on the purpose of the WSCPA, we adopted

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WashingtonCPA Spring 2018

© iStock/XtockImages

I

n a speech to Hewlett-Packard’s training group, company co-founder David Packard said, “I want to discuss why a company exists in the first place. In other words, why are we here? I think many people assume, wrongly, that a company exists simply to make money.

While this is an important result of a company’s existence, we have to go deeper and find the real reasons for our being…xPurpose (which should last at least 100 years) should not be confused with specific goals or business strategies (which should change many times in 100 years). Whereas you might achieve a goal or complete a strategy, you cannot fulfill a purpose; it’s like a guiding star on the horizon—forever pursued but never reached. Yet although purpose itself does not change, it does inspire change. The very fact that purpose can never be fully realized means that an organization can never stop stimulating change and progress.”

Last summer, as the WSCPA Board of Directors and staff embarked on a journey to create a new strategic plan, we started by contemplating purpose, and asking “Why is the WSCPA here?”

Although we didn’t finalize a purpose statement right away, we did agree that member focus is the core of the WSCPA’s purpose.

The entire strategic plan and the changes it sets forth for the WSCPA are very member focused. We have multiple generations of members engaged today and want to acknowledge and support each group and still drive the organization into the future. Member input was key when looking at creating new opportunities and when discussing the importance of keeping, modifying, or expanding certain programs.

We are a community of CPAs and financial professionals cultivating authentic relationships, unique learning experiences, and purposeful advocacy for our future.

- WSCPA Purpose Statement

a purpose statement instead of updating a mission statement. While a mission statement describes what a business does now and for who, a purpose statement is a unifying principle that drives everything the organization does, the answer to why it exists.

So, what is the purpose of your membership organization? “We are a community of CPAs and financial professionals cultivating authentic relationships, unique learning experiences and purposeful advocacy for our future.”

•

A community of CPAs and financial professionals cultivating authentic relationships is essential. There are

•

•

many voices that need to individually be heard and yet unite when necessary. It is about cultivating relationships.

Unique learning experiences: This goes beyond the traditional classes we hold to encompass the experiences created when networking with likeminded professionals, and allows for new opportunities to be developed while leveraging technology.

Purposeful advocacy for our future is the stewardship and consideration given when taking a stand on legislation, as well as encouraging students to become a part of your profession. www.wscpa.org

LEADERSHIP LENS

Strategic Plan Key Initiatives The strategy, which we will measure our work against for the near future, pulls from the purpose statement.

C

onnection & Community - We provide unique benefits and create opportunities for our members to connect with other professionals. We will be leveraging technology to create better and new opportunities to connect with other members. Immediate focus will be on expanding the benefit of knowledge sharing by restructuring committees into resource groups. You will start to see new resources to help you or your staff develop leadership skills.

P

rofessional Education - We provide educational opportunities for lifelong learning, career growth and compliance with licensing requirements. Our newly obtained NASBA certification will allow us to create new types of CPE programs and give you the ability to use WSCPA CPE to meet educational requirements in other states. Look for events that include more networking opportunities and content that is affordable to all. If you value lifelong learning, not just ticking a box to fulfill licensing requirements, we will continue to provide education that will help you succeed in your career.

A

dvocacy - We support and engage our members in advocating for the profession and the public interest on issues affecting the accounting profession. Many may feel that advocacy is focused on politics, but advocacy really is about looking out for the best interests of the profession and the people it serves in our state. It is imperative that we watch out for, bring up, or provide feedback on, potential laws or regulations in our area of experwww.wscpa.org

C onnection & Community

We provide unique benefits and create opportunities for our members to connect with other professionals.

P rofessional Education

We provide educational opportunities for lifelong learning, career growth and compliance with licensing requirements.

A dvocacy

We support and engage our members in advocating for the profession and the public interest on issues affecting the accounting profession.

tise. There will be new opportunities to engage, meet legislators, and keep up on local issues.

Watch for more details on the strategic plan, which was approved by the WSCPA Board of Directors in January, in the summer issue of The WashingtonCPA magazine. We hope the changes will bring value to you now and as your career changes, even in retirement. Look for new opportunities like Prix Fixe CPE (formerly known as Lunchtime Learning), which provides you options to take 10 free CPE credits and a series of 30 one-hour webinars for only $299. Join a resource group to connect with other professionals in your area, and even possibly earn free CPE. Engage in advocacy opportunities, such as Hill Day, which proved to be educational and fun for participants this year (see page 23 for

one member’s experience). One other change to be on the lookout for is new branding, which will be launching in the coming months.

The reason the WSCPA exists is because like-minded individuals over 100 years ago knew the benefit of community.Thank you for being a member of the Washington Society of CPAs, and for the opportunity to be a part of this community during this exciting time.

Kimberly Scott, CAE, is President & CEO of the Washington Society of CPAs and the Executive Director of the Washington CPA Foundation.

You can contact her at kscott@wscpa.org.

WashingtonCPA Spring 2018

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LEADERSHIP LENS

So Many Great People, So Little Time

By Tom G. Donaghy, WSCPA Chair for 2017-18

A

s my year as Board Chair comes to a close, I am honored to have had the opportunity to serve such an amazing organization. This has been a very busy year, with a new CEO who took charge immediately and developed a challenging new strategic plan with the help of numerous Society members, professional consultants, immediate staff, and current board members. The goal of this significant exercise was to focus on what’s working within the organization, improve on those areas that needed attention, and venture outside the box to encourage diversification and growth of membership. The end result: to offer innovative products and services to better serve you, our valued members.

I feel strongly that the direction for the future is on target. (See page 4 for an overview of the new strategic plan and watch for more details in the summer issue of this publication.)

The best part of my job this past year was the opportunity to engage with some of the most talented, intelligent, and professional CPAs, in particular – the directors on the Board. What an honor it has been to work with them. We had a successful year because I did my best to get out of their way. It will be sad to have some truly great people roll off the board at the end of May. However, I am encouraged by the new crop that came on board last year and the new slate of directors for next year is equally impressive. (Learn about the slate of board nominees on page 14.)

Before I “retire” as Board Chair, I thought it would be appropriate, as a financial investment advisor, to share my two cents regarding a couple of well written articles from the February 2018 issue of the Journal of Accountancy entitled “Retirement.”

As described in “Help small businesses choose the right employee retirement plans,” it certainly is a tremendous ser-

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WashingtonCPA Spring 2018

vice to the client helping them figure out which type of retirement plan suits their business needs. However, that is only half the battle. Guiding them through the plan acquisition process is extremely important as well. Let’s take 401(k) plans for example. The 401(k) plan is a very popular retirement plan for companies of all sizes and there are numerous plan vendors out there chomping at the bit to get you into their product. Shopping for the right 401(k) plan and Third Party Administrator (TPA) service can be a daunting task. The biggest complaint that business owners have regarding retirement plans is the low quality level of service they are receiving from either the plan providers or their TPAs. Do your research; there are ways to verify the quality of service provided by plan vendors. Also, look at all the costs inherent in each plan. Plan costs are very important, especially now that employees are questioning how much their company’s plans are really costing them. Helping the client through not only the plan type selection process, but the plan acquisition process as well, can help you solidify your “hero” or “heroine” status.

Turning to the second article, “Help clients balance retirement and education planning,” I wanted to add two things to the valuable points in this article.

Since college costs have skyrocketed over the years, I recommend trying to employ the services of good old grandma and grandpa. Most grandparents enjoy going overboard for their grandchildren and would enthusiastically support the opportunity to be part of helping their kids and grandkids defray the soaring costs of higher education. 529 plans offer a great way to save, while allowing grandparents to keep control over the invested assets. Another tactic to lower the cost of college is to recommend clients find a mentor for their high school age students. It is highly advantageous

for parents to connect their child with a trusted, successful local businessperson or professional as a mentor throughout their high school years to explore career interests. Having an established and solid path already in place as they begin college can eliminate the cost of changing majors and misdirection. Kids do not always listen to their parents, but they may be more likely to listen to someone successful in their community. I have had the opportunity to serve as a mentor to many students who showed an interest in accounting. Guiding kids to a successful future in accounting or, for that matter, any profession is very rewarding.

So now, I get to finally say goodbye and thank you for an amazing year. You are a part of a tremendous organization that is all about supporting you, its members, through all of the terrific programs they have to offer. Let’s not forget the advocacy portion of the services provided.

Make no mistake about it; they truly have your back. The involvement and support that you give to this outstanding organization will not go unnoticed or unrewarded. Thanks again for a great year and I hope to see many of you in the coming years. Wishing you great success in your careers.

Respectfully yours, Thomas G. Donaghy Tom Donaghy, CPA, is an investment officer and financial advisor in Bellingham, Washington.

You can contact him at tg.donaghy1@gmail.com

www.wscpa.org

NEWS BRIEFS

www.wscpa.org

WashingtonCPA Spring 2018

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COVER STORY

Washington Women in Accounting Many strides have been made, but there’s still a long road ahead.

By Cheryl Meyer

O

n January 1 of this year, Nancy Ekrem, CPA, became the sole shareholder at Dewar Meeks + Ekrem PC, a small public accounting firm in Edmonds, WA. A principal since 1991, she took on this solo position after her fellow shareholders, Douglas Dewar, CPA (inactive), and Michael Meeks, CPA, stepped down from their previous roles.

In addition, five — more than 71% — of the firm’s seven CPAs are women. “We have a really special team of people,” Ekrem said. “And we have several things that women like, such as flexible schedules and remote access. We give back to the community and volunteer as a team.”

Ekrem’s firm is a bit of an anomaly, however. Women represent only 22% of partners in public accounting firms nationwide and fall short of men in obtaining equity ownership, according to the 2017 CPA Firm Gender Survey, a national study conducted by the Women’s Initiatives Executive Committee of the Association of International Certified Professional Accountants (AICPA). Public accounting firms in Washington State mirror the national average, give or take a few percentage points, though many are making conscientious efforts to close the gender leadership gap to stay competitive. The numbers haven’t shifted much in recent years.

“Almost every firm loses half of its women in the leadership pipelines between the senior management level and partnership level,” noted Joanne Cleaver, president of content consulting firm Wilson-Taylor Associates Inc., in Manistee, MI., and creator of the MOVE Project, an annual survey sponsored in part by the Accounting & Financial Women’s Alliance in Lexington, KY. Every year, the project lists the best accounting firms for women based on various criteria. In 2017, two Washington public accounting firms, Clark Nuber PS of Bellevue and Moss Adams LLP in Seattle, made the top

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WashingtonCPA Spring 2018

Women represent only 22% of partners in public accounting firms nationwide and fall short of men in obtaining equity ownership, according to the 2017 CPA Firm Gender Survey, a national study conducted by the Women’s Initiatives Executive Committee of the Association of International Certified Professional Accountants (AICPA). Public accounting firms in Washington State mirror the national average, give or take a few percentage points.

12 list for women in the profession due to their work in promoting women into top leadership positions.

Then and Now While the statistics seem grim, the gender leadership disparity at public accounting firms has actually been a factor for decades. Women often chose to depart on their own and firms often didn’t do enough to retain them. Midcareer, women frequently left to have children (and still do), unable to balance both the rigors of public accounting with family life. Some women left to pursue other opportunities. Many women CPAs on the partner track also faced burnout and stress when they were thrust into business development requirements, with

too little training on how to woo new clients to their respective firms. “The stage before partner is senior manager and that stage is in many respects the hardest of your career,” said Dan Cheyney, CPA, national practice leader for Moss Adams in Everett.

Women CPAs also endured gender bias for years, sometimes from clients.

Both Ekrem and Mary Marino, CPA, tax principal at CliftonLarsonAllen LLP in Bellevue, recall long-ago clients who preferred speaking to one of their male CPA colleagues. “There were numerous instances where I felt just gaining credibility was a challenge,” Marino said.

Those days seem long gone though, especially as 48% of college accounting graduates are now women, according www.wscpa.org

COVER STORY

to the AICPA report, 2017 Trends in the supply of accounting graduates and the demand for public accounting recruits.

With almost half of the accounting employee pipeline being female, firms are naturally making strides in hiring, retaining, and promoting women. They are doing this largely out of necessity since this employee pool—particularly in the Greater Seattle area—is highly coveted not only by public accounting firms but by cutting-edge and cool corporations such as Microsoft Corp., Amazon.com, Inc., and Starbucks Corp.

“We’re facing a huge hiring crisis in our industry,” Ekrem admitted. Simply put, firms need to focus on this issue in order to stay enticing, as college accounting students have an overabundance of options once they graduate. Female accounting graduates will want to work for organizations that value their abilities and drive, and offer them opportunities for advancement.

In addition, many partners who are baby boomers are close to retirement, meaning there will soon be more shoes to fill by both male and female CPAs. “We’re going to specifically have a lot of change when it comes to whom is sitting at the table in the next five or so years,” said Miriam Krisher, CPA, audit principal at Peterson Sullivan LLP in Seattle. Currently, only four of her firm’s partners are women (out of 21 total partners), though at the principal and senior manager levels women outnumber men in both cases, based on the company’s website. Several female CPAs, including Krisher, are on the partner track at her firm, she added.

Making Strides Clark Nuber has bucked the national statistics by getting a jump on the gender problem early. Roughly 40% of the firm’s shareholders are women, 48% of its senior leaders are women, and 65% of its workforce is female, said President and www.wscpa.org

CEO Robert Wheeler, CPA. The firm is also highly team-focused and offers both mentoring and coaching programs, and has a succession-planning process to help ensure it is developing future leaders, both men and women. Clark Nuber began offering part-time schedules and remote work more than a decade ago, and invested in technology to make this possible. It’s especially important to give young CPAs “the tools they need to balance work and family,” he noted.

“We’ve embraced the fact that we need to be flexible.”

“The firm recognized that we had a business need and, as a growing firm, we need more leadership candidates and diversity in leadership. If everyone looks alike and thinks alike, you miss out on an opportunity.”

Moss Adams is also ahead of the curve. At the firm’s Everett location, 32% of the partners are female (including the consulting practice), and roughly 50% of the CPAs are women, Cheyney noted. About 10 years ago the national firm launched its Forum W initiative, a program aimed to help attract, develop, retain, and promote women within its ranks. “The firm recognized that we had a business need and, as a growing firm, we need more leadership candidates and more diversity in our leadership,” he said.

“If everyone looks alike and thinks alike,

you miss out on an opportunity.” Forum W “isn’t designed to artificially get people into leadership roles because of gender,” he added. “It is designed to make sure the candidates have diverse attributes and we are getting a broader perspective.”

Nationally, Moss Adams has a goal to have women comprise 30% of its partners and principals by 2022, according to the 2017 Accounting MOVE Project Report, which the firm helped to sponsor. Currently, 26% of the national firm’s top leaders are women. Moss Adams offers employees flexibility and necessary resources, and its program, Growth Series, helps its high-performing women gain necessary leadership skills. “If they want to have a career, what we want to do is make sure there are no barriers to doing that,” Cheyney said. Moss Adams is also focused on sponsorship and mentoring, and utilizes a leadership opportunity matrix so that the best people are considered for advancement based on various headship attributes.

Other firms are making strides, too.

Nationally, KPMG LLP is trying to elevate more women into leadership roles, since only 19% of the organization’s partners are women, the firm reported. In 2003 the company founded the KPMG Network of Women (KNOW), which focuses on networking, mentoring, leadership opportunities, and business development skills. It also formed its Women’s Advisory Board, a group that develops programs beneficial to its female accountants. “This is a great firm for women,” said Karissa Marker, CPA, partner in the Greater Seattle area. “I’ve been rewarded for my strong efforts and dedication and commitment to what we are doing.” The firm offers flexible schedules for its CPAs and has an official mentoring program, she added.

With up-and-coming Millennials on the payroll, mostxWashington and national firms have realized that modified work WashingtonCPA Spring 2018

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COVER STORY

arrangements are a must for retaining young talent, particularly women. These options include flex time, telecommuting, and reduced work hours if necessary. Such arrangements “are crucial, and we’ve got them all,” noted Krisher. “The firm leaves it up to me as to where I want to work.”

Similarly, CliftonLarsonAllen offers adaptable schedules and CPAs get help from coaches, who offer guidance and support in building on strengths and skill sets. “The single biggest change I’ve observed in almost 40 years is that people no longer step into a box and have to stay in that box,” Marino said. Dewar Meeks offers a flexible work environment and the technological tools for CPAs to work remotely as well. “We moved out to a suburb of Seattle… and opened shop with the goal of serving our clients well, but having a life and not missing what is so important,” Ekrem added.

Looking Ahead Despite this progress, sources say there is much more to be done, and challenges to overcome in helping women navigate their intertwined professional and personal lives on the achievable road to partner.

For starters, firms also need to communicate earlier with their CPAs as to career options and possibilities, even though life changes may occur. “One of the most powerful ways to retain women is to set expectations early that your firm has many opportunities for success,” Cleaver said. Employers also must “be

transparent about what real life is like,” acknowledged KPMG’s Marker. “The retention of women is a much more challenging equation.”

Firms also need to offer more creative career tracks and options for all employees, but especially women. If a female CPA plans to have a child, for instance, what are her options for scheduling and career growth? Organizations “need to be more creative because they are losing these amazing, talented, 30- to 35-year-old women that really just need a time-out or a detour before they come back,” Ekrem said. In addition, she noted,“Women need to negotiate better deals.” They also need to tout their abilities more and find their own styles and strengths versus copying what once was the norm. “Women need to stop apologizing for being smart and talented,” Marino added.

And most importantly, firms need to involve younger associates in business development meetings early in their careers, so that they are not blindsided later on. And they need to “think more creatively and three-dimensionally about what business development really is,” Cleaver advised. In other words, business development doesn’t always mean attending after-hour events, which doesn’t work well for some CPAs; clients can be gained in numerous ways, including via content marketing. Clark Nuber, as an example, doesn’t have a one-size-fitsall approach to business development.

“People are able to develop their own style,” Wheeler said.

Firms may also want to consider establishing a formal succession plan, possibly incorporating gender into the mix to help elevate women into leadership roles. According to the 2017 CPA Firm Gender Survey, only 47% of all firms have created a formal succession planning process, with only 2% having a formal gender component in their guidelines.

Additionally, Cheyney noted, public accounting firms need to change their mindsets and realize that men and women often approach things differently but both bring unique attributes to the table. “Women bring a different perspective on leadership and we do better because of it,” he said. Organizations also need to figure out how to attract and retain CPAs amidst very tough competition from innovative and alluring companies. Finally, they must determine how to help manage employees’ workloads and demands. When all of these factors are considered and addressed, the number of women CPAs in leadership roles may naturally rise. This, sources indicate, is a continual work in progress.

“We still have a long way to go,” Cheyney said.

Cheryl Meyer is a freelancexwriter based in California. Her work has been published in the Journal of Accountancy. Contact her at meyerwrites@gmail. com

Women’s Leadership Summit May 17, 2018 Meydenbauer Center | Bellevue www.wscpa.org/wls18 10

WashingtonCPA Spring 2018

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YOUR MEMBER BENEFITS

NEWS BRIEFS

Your career is an adventure full of opportunity and uncertainty.You know where you want to go; the WSCPA’s here to help you get there and guide you as you progress along the path of your career.

1. EDUCATION New Prix Fixe CPE series!

Don’t get lost in a changing professional landscape.

Stay on the right path with timely CPE updates on disruptive technologies and regulations, plus CPE discounts.

$100 oFF 8-hour CPE courses!

2. COMMUNITY Need help with your big catch?

Reel in your next career opportunity—a new client, new contact, or new job—by tapping your connection to thousands of WSCPA professionals.

30 credits for $299!

10 Free Prix fixe CPE Credits!

3. ADVOCACY

Get advocacy News and aLERTS!

Look out for dangerous territory.

We watch out for the profession and keep you informed of new rule and legislative changes.

Our advocacy efforts guide you to safety.

Up to 20% off networking events!

Plus, fill your backpack with member discounts that more than pay for your membership!

let’s keep journeying onward together. Renew today! www.wscpa.org

www.wscpa.org/adventure WashingtonCPA Spring 2018

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NEWS BRIEFS

Free Monthly PCPS Resource In partnership with the AICPA Private Companies Practice Section (PCPS), the WSCPA offers a free rotating tool available every month at www.wscpa.org/pcpsresources.

Past tools have included: • Engagement Review Tool • Intentional Gratitude Actions Worksheet • Clients Goals and Challenges Worksheet • Busy Season Fun Calendar • National MAP Survey Executive Summary • Succession Survey Commentary – Sole Proprietor and Multi Owner Results Watch your Short Form for a link to the latest tool or visit the website.

In Memoriam The WSCPA holds in memory with families and the larger community, these members who have recently passed on:

Sakae S. Aoyama Frank M. McCord Chuck Simonson Sharlyn Renae Turner

www.wscpa.org/community/ in-memoriam

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WashingtonCPA Spring 2018

Find A CPA Referral Service Let Us Help Drive Business to You

Enroll now at wscpa.org/ find-a-cpa

Successful companies never stop marketing.

Ongoing marketing keeps your firm in the forefront of your client’s mind and attracts those looking for a new CPA. Keeping up with marketing can feel overwhelming. While you are busy doing the work, the WSCPA Find A CPA referral service can help you expand your client base. As the only organization in Washington dedicated to serving the profession, people turn to the WSCPA to find the best of the CPAs. Our service is easy to use. For just $175, your listing will be displayed for a full year. With just one click on the “Find A CPA” button, potential clients have easy access to all the information they need to find you and can search by key terms, services offered, area of expertise, and location. Take advantage of our referral service and get the word out about your business.

Enroll now at www.wscpa.org/find-a-cpa. For more information, call (425) 586-1142 or toll-free in Washington at (800) 272-8273, ext. 1142 or email memberservices@wscpa.org.

Receiving too much email?

Update your interests!

The WSCPA wants to send you content that is relevant to your specific needs. We tailor our content for you based on your interests.

To update your interests, go to www.wscpa.org/mywscpa You can also click “Update My Interests” at the bottom of any WSCPA email. www.wscpa.org

NEWS BRIEFS

Your Passport Savings Did you know that our members have saved over $33,000 in restaurant savings by using their WSCPA Passport cards since August 2017?

Restaurant Savings $33,180 Merchant Savings $7,185 Travel Savings $25, 267 Online Savings $2,141

Add in travel, retail, and online shopping, and our members have saved close to $68,000 simply by using their digital cards, available on their cell phones at all times. Now that’s smart!

A WSCPA member benefit

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Member Suspension: Peter J. Magee Disciplinary Actions: As a result of an investigation of alleged violations of the codes of professional conduct of the AICPA and the Washington Society of CPAs, Mr. Magee (of Reno, NV), with the firm of Pete Magee, CPA & Associates, Inc. entered into a settlement agreement under the Joint Ethics Enforcement Program, effective December 5, 2017.

As a result of this agreement, Mr. Magee’s AICPA membership was suspended for two years, effective December 5, 2017.

The Washington Society of Certified Public Accountants has suspended the WSCPA membership of Mr. Magee for the same two-year period.

www.wscpa.org/passport

WashingtonCPA Spring 2018

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BOARD OF DIRECTORS

2018-2019 Board of Directors Nominees The Board of Directors is pleased to present for your review nominees for the Society’s 2018-19 Board of Directors.

In accordance with Article VI of the bylaws, all nominees will be declared elected by the secretary at the annual meeting unless other nominations, supported by at least one percent of membership, are received by April 1, 2018. If a contest for one or more positions develops, an election for those positions will be held at the meeting.

Amanda V. O’Rourke, CPA Position

Vice Chair

Term

1 year; automatically becomes chair 2019-20

Board service

Since 2014

Amanda O’Rourke,CPA, is a partner at Greenwood Ohlund, & CO, LLP, a local firm providing tax, accounting, and consulting services. She has been a member of the WSCPA for more than twelve years and has served on the WSCPA board for the past four. She currently serves as Chair of the board of The Seafair Foundation and on the finance committee for 501 Commons.

She holds a BA degree in Accountancy from the University of San Diego and a certificate in Nonprofit Management from the University of Washington.

Amanda lives with her husband and two children in Ballard, just a few miles from the office.

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WashingtonCPA Spring 2018

Kristine L. Lambright, CPA Positions

Board service

Jared M. Theis, CPA

Treasurer

Position

Secretary

1 year

Term

1 year

Since 2014

Board service

Since 2017

Kris Lambright, CPA, CGMA, is the Chief Financial Officer for YWCA Seattle | King | Snohomish. She has been with the YWCA since 1999, CFO since 2004. Kris oversees accounting, payroll, facilities and asset management, investments, and management information systems. Her prior work experience included government, public, and private industry accounting.

Kris is a trustee with College Spark Washington, and is a current WSCPA board member and active in the WSCPA’s Not-for-Profit Committee. She was recognized by the Puget Sound Business Journal as CFO of the Year in 2009. She is a graduate of the University of Washington. Kris lives with her husband Tim in Seattle.

Jared Theis, CPA, is an Audit Senior Manager in the Seattle office of KPMG LLP, working remotely out of Spokane.

He provides financial statement and internal control audit services to a variety of public and non-public companies, primarily in the forest products, manufacturing, and real estate industries.

Jared maintains an in-depth understanding of requirements and standards of the PCAOB, FASB, SEC, and Private Company Council. He is also frequently a guest speaker at various professional events and local college campuses, and currently serves as a member of the Accounting Advisory Boards for Washington State University and Eastern Washington University.

www.wscpa.org

BOARD OF DIRECTORS

Meet the Incoming Chair: Kirsten Duke, CPA

Susan L. Thomson, CPA

William Reed, CPA

Position

Director

Position

Director

Term

2 years

Term

3 years

Susie Thomson, CPA, owns her own accounting firm, Thomson & Company, PLLC, in Bellingham, Washington.

Susie has over 20 years of experience in accounting and auditing, preparation of income taxes, and small business consulting and is active in serving her community.

Since joining the WSCPA in 1997, Susie has served on numerous boards and committees in different roles, including as secretary and chair of the Bellingham Chapter Board. She has served on the Peer Review committees of the WSCPA and on the Board of the Washington CPA Foundation.

She is a WWU graduate, is an active member of the Bellingham Rotary Club, and serves as Treasurer of the Bellingham Rotary Club Foundation.

In her spare time, she enjoys travelling and attempting to play golf.

www.wscpa.org

Bill Reed, MBA, CPA, CFF, CFE, PI, CGMA, CICA, has been a business consultant and instructor at Everett Community College (EvCC) since 2002.

Prior to becoming tenured at EvCC, Bill worked in the private sector for over 25 years in a variety of senior level positions, including Controller and Treasurer for mid-size corporations.

Bill has been actively engaged in community work for over 20 years. He is the co-founder and co-chair of the EvCC Students of Color Career Conference.

He is also Program Director for a youth development program operated by the Snohomish County NAACP and EvCC. In 2008, he was voted Exceptional Faculty at EvCC. Bill was awarded the “Advancing the Dream Award� at Central Washington University in 2009.

Bill and his wife Marcella have five children. Bill likes blues and jazz music and recently began learning to play the guitar.

Kirsten Duke, CPA, CGMA, is the VP, Finance, People and Operations of DomainTools, a cyber threat intelligence SaaS company locatedxinxSeattle,xWashington.

A graduate of the University of Washington, Kirsten began her career at Ernst & Young in the AssurancexandxAdvisoryxBusiness Services Practice. After nine years in public accounting, Kirsten moved on to industry serving as Director of Technical Accounting for Getty Images, as well as Controller of SCOLR Pharma before joining DomainTools in 2011.

Kirsten served as WSCPA Board Treasurer from 2015-2017.

In addition to being active on local college campuses such as UW Seattle and Bothell campuses, and Seattle University as a WSCPA representative, she has also been a Washington CPA Foundation Scholarship Reviewer in 2016, 2017 and 2018.

WashingtonCPA Spring 2018

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BOARD OF DIRECTORS

Remaining on the Board The following members currently serve on the board and will serve on the 2018-19 Board in the following positions: Chair: Kirsten S. Duke, CPA Immediate Past Chair: Thomas G. Donaghy, CPA

Thomas J. Sulewski, CPA Position

Director

Term

3 years

Tom Sulewski, CPA, is the Shareholder in charge of the Audit Department at Clark Nuber, PS and a member of the firm’s Board of Management. A graduate of the University of Washington, Tom started his career with Clark Nuber in 1990.

Tom’s clients cover a range of industries, and include both private companies and not-for-profit organizations.

He now serves on multiple advisory boards for clients, community organizations, and university business school and accounting programs. In his spare time, he enjoys teaching for local universities, traveling with family, along with snow and water activities.

President & CEO: Kimberly D. Scott, CAE

2018 Annual Meeting Meydenbauer Center

Directors: Erika C. Amezquita, CPA, CGMA Dawn E. Beck, CPA Christina J. Gehrke, CPA CIA, CRFA

Bellevue, WA June 19 | 3-5 pm

Come join us!

Lowel J. Krueger, CPA, MBA Moses S. Man, CPA Rhonda S. Powell, CPA Jared M. Theis, CPA Ronald L. Tilden, CPA David E. Trujillo, CPA

With Kimberly Ellison-Taylor!

16

WashingtonCPA Spring 2018

www.wscpa.org

WE START BY LENDING AN EAR. We take time to understand your business needs, so we can help solve them.

No two businesses are alike. So cookie cutter loans won’t cut it. At Columbia Bank, we work closely with you from the beginning of the loan process to make sure we’re setting you up with the right loan to reach your unique business goals. Which means we do something other banks don’t always do—listen. Visit ColumbiaBank.com.

Member FDIC

Equal Housing Lender

The AICPA-endorsed CPA Value Plan provides industry-leading professional liability insurance that gives you the freedom to delve into new areas of practice with the confidence your firm is covered. Program features include:

• Coverage specifically designed for small CPA firms

GROW YOUR FIRM

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• Limits from $100,000 to $2 million for qualified firms • A variety of credits to help reduce your premium • Optional CPA NetProtect® for cyber network damage claims and privacy breaches* • Subpoena assistance, regulatory proceedings coverage, and more

Apply online today at cpai.com/grow or call 800.221.3023 Endorsed by:

Underwritten by:

Brought to you by:

*CPA NetProtect® is offered for an additional premium as part of the AICPA Professional Liability Insurance Program.

Aon Insurance Services is the brand name for the brokerage and program administration operations of Affinity Insurance Services, Inc. (TX 13695), (AR 100106022); in CA and MN, AIS Affinity Insurance Agency, Inc. (CA 0795465); in OK, AIS Affinity Insurance Services Inc.; in CA, Aon Affinity Insurance Services, Inc. (CA 0G94493), Aon Direct Insurance Administrator and Berkely Insurance Agency; and in NY, AIS Affinity Insurance Agency.

One or more of the CNA companies provide the products and/or services described. The information is intended to present a general overview for illustrative purposes only. It is not intended to constitute a binding contract. Please remember that only the relevant insurance policy can provide the actual terms, coverages, amounts, conditions and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice. “CNA” is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the “CNA” trademark in connection with insurance underwriting and claims activities. Copyright © 2018 CNA. All rights reserved.

E-12399-418 WA

www.wscpa.org

WashingtonCPA Spring 2018

17

Thank You to Foundation & CPAPAC Contributors

Foundation Contributors

The following individuals and organizations donated to the Washington CPA Foundation or CPAPAC www.wscpa.org/foundation from March 2017-February 2018.

Named Scholarship Contributors and Endowments ($5,000+)

We want to thank the contributors, individuals, and organizations that support the work of the Foundation. You allow us to support a promising group of students and show them how much they are supported by the profession. It is exciting to be able to tell students that their future peers are also their supporters.

We also want to thank the 50 plus members that volunteer their time to review the applications. It is time consuming, fast-paced, and there are tough decisions to be made. The program would not have the outstanding outcomes without them.

Lastly, we want to celebrate the 70 plus accounting students in the state of Washington that recently were selected to receive a $5,000 scholarship. These students are extremely bright and excited about the accounting profession. Many other applicants also demonstrated remarkable potential for success in the profession.

With your help, the Foundation will continue to advance the accounting profession in Washington State by connecting with and supporting these students, their educators and others interested in the profession’s future.

Clark Nuber Accounting Scholarship CliftonLarsonAllen Accounting Scholarship Shimer Family Foundation/Deloitte Accounting Scholarship EY Accounting Scholarship KPMG Accounting Scholarship Moss Adams LLP (Everett) Peterson Sullivan LLP Accounting Scholarship PwC Accounting Scholarship Sambataro Family Foundation TruBlue Inc Rich Jones Accounting Scholarship by Deloitte Roy J Polley Memorial Endowed Scholarship Waterman Endowed Scholarship

Contribution of $5,000 toward a named scholarship to be awarded the next academic year.

Senior Executive’s Circle ($2,500+) Too busy counting your tuition costs to focus on accounting?

2018

72 scholarships

Washington CPA Foundation gives over $350,000 in scholarships.

Leaders Circle ($250-$499)

Could you be one of 70 lucky winners?

“Your biggest regrets are the things you don’t do. Go for it and don’t hold back!”

— Michelle Rouse, 2017 Scholarship Winner

$5,000 each | $360,000 total

329 55

selection committee members

3.8

average student GPA

Deadline: February 14, 2018 Apply now! wscpa.org/oneof70

193

final applicants

1

Doctoral candidate

16

colleges

View all scholarship recipients at www.wscpa.org/foundation

18

WashingtonCPA Spring 2018

Executives Circle ($500-$999)

Pat L Bohan, CPA, CGMA, CGFM Weldon T Burton, CPA Richard D Greaves, CPA Brett James Jordan, CPA, CGMA, CIA, CFSA Kris Lambright, CPA Sarah Elizabeth Ozanne, CPA

awarded

online applications started

Christopher William Hesse, CPA

Erika Cecilia Amezquita, CPA, CGMA Paul M Bailey, CPA Justin A Bourn, CPA Jolene G Cox, CPA Jacqueline L Davidson, CPA, CGMA Scott J Dietzen, CPA Thomas G Donaghy, CPA Christina J Gehrke, CPA, CIA, CrFA Mark Alan Hugh, CPA Glenn M Light Mary Dowling Marino, CPA, CGMA, MBA David J Miniken, CPA, CGMA, MBA Amanda V O’Rourke, CPA Sharon Kay Philpott, CPA Rhonda S Powell, CPA Michael Wickersham Reeves, CPA Jared M Theis, CPA Ronald L Tilden, CPA David E Trujillo, CPA Hayden B Williams, CPA, CGMA

Senior Contributors ($100-$249) Mark A Avitt, CPA Dawn E Beck, CPA Jonathan Leroy Bishop, CPA

www.wscpa.org

Clayton Bland William E Blue, CPA Brantley Janson Yost & Ellison Bruce G Bushman Sesinando N Cantor, CPA, CGMA, MBA Jose Cerrillo, III, CPA Kenneth L Clenin, CPA David K Cobia, CPA Robert M Cole, Jr, CPA, CGMA, MA Kevin Richardson Cox, CPA Bonnie Lynn Curran, CPA Lisa Cushman, CPA Kyla Jean Delgado, CPA David A Elmenhurst, CPA Daniel Frein, CPA John Stephen Friend, CPA Charles E Hallett, IV, CPA, CGMA David G Hoagland, CPA Cindie Hubiak Michael J Kander, CPA, CIA Terri L Kitto Dennis C Loman, CPA Donald W Luby, CPA Mary Dowling Marino, CPA, CGMA, MBA John P Marvin Michael T Mead, CPA Arthur D Miles, CPA Charles Elmer Morgan, CPA Sandra J Moss, CPA Paul G Neiffer, CPA Kristofer Nixon, CPA Julie Kathleen Obrien, CPA Ronald J Perkins, CPA Jin H Rudolph, CPA Abby Mae Sanders, CPA, CFE David D Schelert, CPA Suzanne M Schiffler, CPA Brian Clark Shull, CPA Patrick Lee Smith, CPA Stanley William Spavold, CPA Cathy L St John, CPA Jared M Theis, CPA David E Thompson, CPA, ABV, CVA David Addison Thomsen, CPA Jennifer Lyn Valente, CPA Kenneth T Williams, CPA

Supporting Contributors (<$99) John P Baker, CPA Gooding O’Hara & Mackey PS Nelson & Company PS Carmen J Aguiar, CPA, PFS, CFP Leonard L Almo, MBA Michael R Ammerman, CPA Alex T Anderson, CPA Laurie Jo Anderson, CPA Erica Marie Ash, CPA, MBA Gordon P Asheim, CPA Bill Bailey, CPA Mary Eileen Baker, MSTax Tyler John Baldwin, CPA Marc G Bateman, CPA

www.wscpa.org

Kenneth L Battie Michael L Bayless, CPA, JD David George Bembridge, CPA Robert Charles Best, CPA, JD Carol J Bezy, CPA, MBA, CFFA, CVA Diane Bingaman, CPA Irene B Birdsall, CPA Bruce E Bixler Gregg Blodgett Sidney H Boles, CPA Megan Yeung Brady, CPA Paul W Brandstetter, CPA Rustin Porter Brewer, CPA Janice C Bristol, CPA Brian Richard Bronk, CPA David A Brown Christine B Brunner, CPA Yasmin Lyn Caldwell, CPA Arthur E Campbell, CPA, CMA, CGMA Maria T Carrion-Ochoa, CPA, CGMA Edward T Carson, CPA Rebecca A Cates, CPA Roger F Clark, CPA R Douglas Collier, CPA Daniel Clancy Collins Craig S Connell, CPA Douglas P A Cook, CPA, MSTax Jeffrey M Cordova, CPA Gordon Robert Craig, CPA, CFE, CIA, CISA Jay F Cramer John E Currie Stephen G Dashiell, CPA Jacqueline D Davis, CPA Joseph P Deacon, CPA Matthew Ervin DesVoigne, CPA Billie Devore, CPA Carol Elaine Didier, CPA David L Dierst, CPA Deanne Donovan, CPA Kirsten S Duke, CPA, CGMA Thomas Jefferson Eby, MBA Scott E Eschbach, CPA Scott Leroy Faires, CPA Charlotte Rae Fairfield, CPA Angela Marie Fidler, CPA Joseph R Forde, CPA Jack H Gambill Steven C Garber, CPA Maria-Elena Garcia-Zapata, CPA, CGMA, MBA Chris A Gates, CPA Robert L Gerth Janet Gibb, CPA,MS Meri Melang Gilbert, CPA Dr Susan Gill Eleanor Ewing Gittelman, CPA Randolph Vincent Glein, CPA, PFS Blessie B Goco, CPA, MBA Brian G Gosline, CPA, JD William J Graham, CPA Alan L Gray, CPA Gerald Greer, CPA Terry W Greer, CPA, MBA Harumi K Guiberson

Clarence G Guimond, Jr, CPA, CMA, CFM Robert B Gulrajani, CPA, CGMA, CEA, CSA, CFP Vaughn S Hagen, CPA Michael McAndrew Harman, CPA Michael P Hart, CPA, MPAC Alicia Marie Heggerness, CPA M Suzanne Heidema, CPA Teresa A Herrin, CPA Shyh-Ing Hong, CPA William D Hood, CPA Loren D Hostek, CPA June E Howard, CPA Charles D Huibregtse, CPA Michael K Hutchinson, CPA Hitoshi Inoue, CPA Cindy L Isaacson, CPA Wendy S Jacobson, CPA Kraig Andrew Jones, CPA Waylon P Jones, CPA, CGMA, CFE Luther D Jonson, CPA Mary E Joyce, CPA Arthur Y Kageyama Osamu Kasuya Raad T Kattula, CPA Sungwhan Kim, CPA John Eric Kimball, CPA Kristin L Knopf, CPA, CGMA, MBA, MPAcc Kerry D Konkler, CPA Karl J Korsmo Glenn E Kosai Vildana Kunduklija, CPA Stroud W Kunkle, CPA Irene R Laible, CPA Nancy M Lalic, CPA, CFE, CGM, CITP Dr Margie Ness LaShaw, CPA Charles W Lea, CPA Kwang Mok Lee, CPA Robert L Levine Samuel Hacksoo Lim, CPA Marla Dimand Lockhart, CPA, MAFM Luellen H Lockwood, CPA, MBA, EA Deborah Michelle Loober, CPA Lucas Edward Loranger John F Lynch, CPA David T Lyons, CPA, JD Elizabeth Ann Mance, CPA Michael J Mansfield, CPA Carrie A Martin, CPA Elizabeth Deak Masnari, CPA, CISA Lillian L McDonell, CPA, MBA Donald W McHargue James W McKean, CPA Lisa Ann Michalski Louis H Mills, CPA Donald W Mitchell Bruce I Mitchell, CPA, MBA Patricia G Molnar, CPA Craig K Mueller, CPA Ryan L Munn, CPA Kenshi Nagayoshi, CPA Bea L Nahon, CPA, CGMA David S Nelson, CPA, CTRS

SUCCESSION PLANNING

Kristine T Nelson, CPA, MPAcc Daniel R Neuharth, CPA Thomas P Nicholas, CPA Kanwar Nijher, CPA Terence V O’Keefe Richard M Openshaw, CPA, JD, CGMA Benjamin Page, JD Stephen Patterson, CPA John I Payne, CPA, CTP Michael S Peasley, CGMA, MSTax Ronald W Pemberton, CPA Jacqueline M Perriella, CPA Linda M Perry, CPA, MT Jack B Person, CPA Scott Thomas Petersen, CPA Molly M Philopant Michael Charles Plato, CPA Edward L Raisl, CPA Stephen John Reddaway, CPA Mrs Summer Redmon Margo Reich, CPA Christopher J Rieke, CPA James J Rigos, CPA, JD, LLM, CMA Frederick M Robinson, JD, LLM Donald L Rodman, CPA, MBA Harvey J Rothschild, III, CPA, MBA Richard H Russell James Lee Russell, CPA Susan J Sanders, CPA Thomas P Sawatzki, CPA Jeffery S Schilling, CPA Morgan L Schulte, CPA, CMA Martin F Seiler, CPA Harold G Shapiro Jay T Shilhanek, CPA Janis Harkins Simpson, CPA Orphalee Smith, CPA, PFS Russell Joseph Smith, CPA Douglas D Springer, CPA, PFS William M Stanke Marie G V Sweet, CPA Harold G Thompson, Jr Susan L Thomson, CPA Kathleen L Trumbauer, CPA Robert A Underhill, CPA, JD Jeffrey M Van Burkleo, MSTax Ann M Vandeman Susanne Wendy Vickerman, CPA, MSTax Franz Von Bradsky, MBA Dorothy R Wagsholm, CPA Robert W Wales Jeffery M Walker, CPA Wayne F Walther Donald G Watts, CPA Valerie J Weller Robert Eugene Wells, CPA William Lloyd Wells H Thomas Wick Tanis Winfield, CPA Deborah K Winter, CPA, CGMA, MBA Virgil Bruce Woodfield, CPA Shari A Wood-Richardson, CPA Neil Edwin Woody, CPA Justin K Yamamoto, CPA Josh Yeyni, CPA, PS

WashingtonCPA Spring 2018

19

CPAPAC Contributors Thanks to the many contributions from WSCPA members, the CPAPAC continues to provide feedback to lawmakers on issues that affect our profession, as well as educate legislators on the crucial role that CPAs play in our economy. We also strive to ensure that the Washington State Board of Accountancy has the ability to stay independent and effective. Learn more at www.wscpa.org/cpapac

4

Advocacy Victories Since 2015

se

House Bill No. 1263, signed by Governor Inslee on April 24, 2015, exempts CPAs from the private investigators’ statute. The bill became a law on July 24, 2015.

New Scholarship Fund Created $3 million

Signed into law by the Governor on May 8, 2015, Substitute Senate Bill No. 5534 created a $3.3 million scholarship fund for accounting students to be administered by the Washington CPA Foundation.

Definition of Attest Updated and Firm Mobility Allowed Engrossed Substitute House Bill 2433, signed into law by the Governor on March 31, 2016, provided firm mobility across Washington State lines and brought the definition of attest in Washington State into closer conformity with the Uniform Accountancy Act.

British Columbia Firm Mobility New for 2018!

House Bill 2468, allowing British Columbia accounting firms to perform attest and compilation engagements for wholly or partially owned B.C. subsidiaries that are licensed and registered in Washington, was signed into law by Governor Inslee on March 22, 2018.

Contribute today! www.wscpa.org/cpapac | (425) 644-4800

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Clark Nuber PS Eide Baily LLP EY (Seattle) Hagen Kurth Perman & Co PS Johnson & Shute PS

Ambassador’s Club: $500 and Above Christopher William Hesse, CPA

Advocate’s Club: $100-$499

CPAs Exempt from PI Statute n P.I. Lice

Firms

WashingtonCPA Spring 2018

Dawn Esther Beck, CPA Justin A Bourn, CPA Lindsay Chuang, CPA Jason Daniel Dangler, CPA David Cyril Heselton, CPA Mark Alan Hugh, CPA Kris Lambright, CPA Amanda A Miller Rhonda S Powell, CPA Michael Wickersham Reeves, CPA Jared M Theis, CPA Ronald L Tilden, CPA David E Trujillo, CPA Hayden B Williams, CPA, CGMA

CPAPAC Member: $50-99 Carmen J Aguiar, CPA, PFS, CFP Erika Cecilia Amezquita, CPA, CGMA Michael R Ammerman, CPA Christie P Anderson, CPA, MBA Benjamin Anderson, CPA Laurie Jo Anderson, CPA Jessica Eland Andrews, CPA Gordon P Asheim, CPA Ashland Partners & Company LLP Nicki L H Bailey, CPA John P Baker, CPA Cathi Lyn Barta, CPA Marc G Bateman, CPA Carol J Bezy, CPA, MBA, CFFA, CVA Diane Bingaman, CPA Irene B Birdsall, CPA Adele Brady Bolson, CPA Paul W Brandstetter, CPA William H Bratton, CPA David A Brown Christine B Brunner, CPA www.wscpa.org

Arthur E Campbell, CPA, CMA, CGMA Edward T Carson, CPA Rebecca A Cates, CPA James E Coates, CPA Daniel Clancy Collins Craig S Connell, CPA Jolene G Cox, CPA Jay F Cramer John E Currie Vicky M Dalton, CPA, CGFM Stephen G Dashiell, CPA Chris Davies, CPA, CMA Jacqueline D Davis, CPA Joseph P Deacon, CPA Carol Elaine Didier, CPA Thomas G Donaghy, CPA Kirsten Simpson Duke, CPA, CGMA Scott C Eastham, CPA Scott E Eschbach, CPA Janice L Ferguson Joseph R Forde, CPA Chris A Gates, CPA Christina J Gehrke, CPA, CIA, CrFA Randolph Vincent Glein, CPA, PFS Dennis B Goldstein, CPA Brian G Gosline, CPA, JD Rick H Graham, CPA Alan L Gray, CPA Richard D Greaves, CPA Terry W Greer, CPA, MBA Vaughn S Hagen, CPA Michael McAndrew Harman, CPA Michael P Hart, CPA, MPAC M Suzanne Heidema, CPA Richard Q Honsowetz, CPA William D Hood, CPA Navzer Rustom Hormazdi, CPA, MSTax, MT Loren D Hostek, CPA June E Howard, CPA Michael K Hutchinson, CPA Hitoshi Inoue, CPA Cindy L Isaacson, CPA Waylon P Jones, CPA, CGMA, CFE Brett James Jordan, CPA, CGMA, CIA, CFSA Mary E Joyce, CPA Arthur Y Kageyama Osamu Kasuya Kristin L Knopf, CPA, CGMA, MBA, MPAcc Benjamin M Kostick, CPA Stroud W Kunkle, CPA www.wscpa.org

James R Ladd, CPA, CGMA Irene R Laible, CPA Nancy M Lalic, CPA, CFE, CGM, CITP Jeff E Leary, CPA, CFP Kwang Mok Lee, CPA Deborah Michelle Loober, CPA Elizabeth Ann Mance, CPA Elizabeth Deak Masnari, CPA, CISA Gregory Allen Matty, CPA Lillian L McDonell, CPA, MBA Louis H Mills, CPA David J Miniken, CPA, CGMA, MBA Donald W Mitchell Bruce I Mitchell, CPA, MBA Bea L Nahon, CPA, CGMA Kristine T Nelson, CPA, MPAcc David S Nelson, CPA, CTRS Daniel R Neuharth, CPA Thomas P Nicholas, CPA Terence V O’Keefe Douglas M Oord, CPA Richard M Openshaw, CPA, JD, CGMA Amanda V O’Rourke, CPA Stephen Patterson, CPA Linda M Perry, CPA, MT Jack B Person, CPA Dahan N Pham, CPA, CMA Molly M Philopant Michael Charles Plato, CPA Michael J Plymale, CPA Edward L Raisl, CPA Margo Reich, CPA Christopher J Rieke, CPA Frederick M Robinson, JD, LLM Scott D Rodgers, CPA, MSTax Donald L Rodman, CPA, MBA Richard H Russell James Lee Russell, CPA Craig S Ruthford, CPA Susan J Sanders, CPA Abby Mae Sanders, CPA, CFE Thomas P Sawatzki, CPA James D Schafer, CPA, MS Jeffery S Schilling, CPA Richard W Schmidtke, CPA Daniel J Schroeder, CPA Martin F Seiler, CPA Harold G Shapiro Jay T Shilhanek, CPA William J Smith, CPA, CFE, CIA

Orphalee Smith, CPA, PFS Stanley William Spavold, CPA Douglas D Springer, CPA, PFS William M Stanke Sidney J Starr, CPA, CGMA, CFF Donald W Stetson, CPA Harold G Thompson, Jr Susan L Thomson, CPA Robert A Underhill, CPA, JD Jeffrey M Van Burkleo, MSTax Susanne Wendy Vickerman, CPA, MSTax Robert W Wales Jeffery M Walker, CPA Donald G Watts, CPA William Lloyd Wells Robert Eugene Wells, CPA H Thomas Wick Deborah K Winter, CPA, CGMA, MBA Shari A Wood-Richardson, CPA Cheryl K Woods, CPA, CGMA

Contributors: (<$50) Tyler John Baldwin, CPA Sidney H Boles, CPA Rustin Porter Brewer, CPA Janice C Bristol, CPA Sesinando N Cantor, CPA, CGMA, MBA Robert M Cole, Jr, CPA, CGMA, MA Gordon Robert Craig, CPA, CFE, CIA, CISA Angela Marie Fidler, CPA Eleanor Ewing Gittelman, CPA Sungwhan Kim, CPA Summer Redmon Dorothy R Wagsholm, CPA Azucena A Wingard Virgil Bruce Woodfield, CPA

Learn more about the Foundation and CPAPAC at www.wscpa.org.

Contributions may be made at any time during the year, or when you renew your Society membership every spring.

WashingtonCPA Spring 2018

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Busy Season is over. Time to rest, recover, and play!

Check out all the savings your WSCPA Passport card offers on vacation destinations. Travel to the beach or the mountains, have an adventure on a tour, or take a relaxing cruise and let someone else plan the activities.

You can save big money at: • Beaches Resorts

• • • • • •

Hyatt Regency Indian Wells Resort & Spa Outdoor Odysseys Kayak Tours Artisans of Leisure Tour Carnival Cruise Line Princess Cruises Norwegian Cruise Line

For more information about these great deals, go to www.wscpa.org/passport A WSCPA member benefit

is pleased to announce successful completion of litigation support re MEDICAL CLINIC v. LOCAL CPA FIRM Testifying expert for defense counsel in connection with claims made against CPA firm where embezzlement was alleged against employee of Medical Clinic and where CPA firm failed to discover the embezzlement pursuant to the CPA firm’s engagement to prepare income tax returns. Analyzed evidence and refuted allegations that embezzlement had occurred, determined that Medical Clinic had misappropriated its own money, and determined that potential damages were a fraction of plaintiff’s claim (even if embezzlement occurred). Prepared Standard of Care analysis required for CPA firm preparing income tax returns and provided presentation in anticipation of mediation or trial.

William N. Holmes - CPA / ABV / CVA / CFE Forensic Accounting | Economic Damages | Business Valuation | Commercial Litigation | Full Service Public Accounting | Accounting and Tax Malpractice Litigation 7128 SW Gonzaga Street, Suite 100 | Portland, OR 97223 | 503.270.5400 | www.pdxcpas.com

22

WashingtonCPA Spring 2018

www.wscpa.org

ADVOCACY

Hill Day: The View from a Young Professional

By Jillian Robison, CPA

www.wscpa.org

All Photos © Brian Pettepiece

A

s the current chair of the Spokane Chapter of the WSCPA, I was called to participate in a strategic planning event in Bellevue last summer. There I connected with Ashley Kittrell, the WSCPA’s Government Relations Coordinator.

From this relationship, I was invited to represent the WSCPA in the First Annual WSCPA Hill Day in Olympia in January. I had not been involved in politics before and had never been to Olympia, so the whole day was a fascinating experience for me.

Our main focus was to ask for legislators’ support for a bill related to Washington-based entities that are owned by British Columbia businesses. As of this writing, British Columbia accounting firms are prohibited from performing any type of financial service engagements across the border. We want to make financial reporting easier to save money for them and create a cross border relationship where they allow similar activity in B.C. We also discussed a proposal requiring campaign treasurer certification and our attempt to exclude CPAs from requiring certification. Finally, we wanted to give the legislators an update and additional appreciation for assistance with the scholarship fund we were able to set up in 2015 with the Washington CPA Foundation.

On the trip from Sea-Tac to Olympia, I chatted with CPAs with different careers in our profession–partners and managers in public accounting firms, employees in Washington-based businesses, CPAs in government, and WSCPA staff. I had some great conversations and made some great connections with these people who cared enough to take a day out of their busy schedules to go in front of our representatives and discuss issues important to our profession and careers.

Once in Olympia, we broke into smaller groups and handed out the WSCPA’s 2017 Income Tax Guide for Wash-

Above, from left to right: Rep. Mike Volz, CPA, with Jillian Robison, CPA, Ursula Perkins, CPA, & WSCPA Government Relations Coordinator Ashley Kittrell.

Right, from left to right: Rep. Norm Johnson with Lowel Krueger, CPA. ington Legislators, which most offices were eagerly anticipating and thankful to receive. During the walk around campus, I was able to take in some of the history of the capital through the architecture, stories from others we met, and the photos and stories on the walls.

We had a great team lunch where we deliberated our issues to discuss with the legislators in our one-on-one meet-

ings as well as got to know each other on a more personal level. We also met our lobbyist. What a fascinating job! I enjoyed talking to her about what a typical day is like and people she meets and the discussions she has.

Later several members attended the public hearing for our bill in the House Business and Financial Services Committee and provided testimony. We also had WashingtonCPA Spring 2018

23

ADVOCACY

individual meetings set up with representatives.

Most meetings were designed to be with representatives in our individual districts, but I enjoyed connecting with everyone in all the meetings I attended. These legislators took time from their hectic days and talked with us about our bill and our profession. No one turned our ideas down.

Some engaged us in longer conversations about bigger matters and others just agreed to support our bill. I really enjoyed connecting with the representatives on a face-to-face level, discussing our bill, and also connecting about our small hometowns, our favorite places to eat, and the beauty of the Palouse in the summer.

It was such a rewarding and interesting experience. I am appreciative of the WSCPA for inviting me to come along and meet new people, learn new things, and get out of my comfort zone.

Jillian Robison, CPA, is tax manager at Eide Bailly, LLP, in Spokane. She is also chair of the Spokane area chapter. You can contact her at jrobison@eidebailly.com.

Other Advocacy News On March 22, Governor Jay Inslee signed into law House Bill 2468. Effective June 7, 2018, British Columbia accounting firms may perform attest or compilation engagements for businesses with wholly or majority owned subsidiaries residing and licensed in Washington. For more information on this bill and the 2018 Legislative Session, visit www.wscpa.org/advocacy.

To find out how you can participate in supporting WSCPA advocacy initiatives, please contact Ashley Kittrell at akittrell@wscpa.org or visit www.wscpa.org/advocacy.

Special thank you to Micki Hazen, CPA, a member of the WSCPA Taxation Committee, who prepared the 2017 Income Tax Guide for Washington Legislators.

24

WashingtonCPA Spring 2018

Left to right: Waylon Jones and Lowel Krueger, past and current WSCPA board members respectively, on their way to their next meeting in the www.wscpa.org Legislative Building.

Right to left: Spokane Chapter Chair, Jillian Robison and Vancouver Chapter Chair, Ursula Perkins discuss WSCPAsponsored House Bill 2468/SB 6256 with Senator Ann Rivers.

Left to right: Jillian, Ursula, and WSCPA Government Relations Coordinator, Ashley Kittrell, head to their next meeting in the Irving Newhouse Building.

Left to right: Rep. Johnson, Lowel Kruger, and Waylon Jones discuss current issues facing the CPA profession.

www.wscpa.org

Left to right:xWaylon Jones and Senator Curtis King.

WashingtonCPA Spring 2018

25

CLIENT RECORDS

Washington State Board of Accountancy Revises Rules on Client Records

By Mark Hugh, CPA

Before the Change Before the change, there were two applicable AICPA standards, one on failure to return client records and one on disclosing information to persons associated with a client.!And four applicable Board rules, one on confidentiality, one on client record requests, one on professional standards, and one containing definitions.

On failure to return client records, AICPA ET Section 1.400.200.06 provides that a CPA who has provided records to an individual designated or held out as the client’s representative, such as the general partner, majority shareholder, or spouse, is not obligated to provide such records to other individuals associated with the client.

On divorcing spouses, AICPA ET Section. 1.700.030, requires when a CPA is engaged to prepare a married couple’s joint tax return, both spouses are the client, even if the CPA was engaged by

26

WashingtonCPA Spring 2018

© iStock/cnythzl

R

ecently, the Washington State Board of Accountancy revised its rules on client confidential information, client records, and client record requests. The new changes became effective February 24, 2018.

Client records and client record requests require extreme caution and thorough understanding and compliance with Board rules. Former clients may not be gracious in their requests of the predecessor CPA or may owe outstanding fees, and predecessor CPAs often respond to these requests in a passive aggressive fashion.This results in frequent complaints to the Board and disciplinary action of the predecessor CPA. With the revisions, the Board is adopting parts of AICPA interpretations with clearer definitions regarding who can request records and strengthening existing language regarding requirements to provide electronic records.

Client record requests require extreme caution and thorough understanding and compliance with Board rules. Former clients may not be gracious in their requests of the predecessor CPA or may owe outstanding fees, and predecessor CPAs often respond to these requests in a passive-aggressive fashion. This results in frequent complaints to the Board and disciplinary action of the predecessor CPA. one spouse and deals exclusively with that spouse. If the married couple is undergoing a divorce and one spouse directs the CPA to withhold joint tax information from the other spouse, the CPA may provide the information to both spouses.

On confidentiality, Board rule WAC 4-30-050(3) requires that a CPA cannot disclose any confidential communication or information without the specific consent of the client.

On failure to return client records, Board rule WAC 4-30-051 is comprehensive and more restrictive than the AICPA interpretation.xForxexample,xrecords cannot not be withheld in exchange for outstanding professional fees, and while the AICPA interpretation uses “work product” to describe what records must be provided, the Board rule subdivides

“work product” into individual client records prepared by the CPA. On professional standards, Board rule WAC 4-30-048 requires that if any professional standards differ from the requirements in Board rules, Board rules prevail.

On definitions, Board rule WAC 4-30010 did not contain any definition of an authorized person for client confidentiality or client record requests purposes.

After the Change With the new revisions, the Board is adopting AICPA definitions on who is an authorized person for confidentiality and record requests, and the interpretation on divorcing clients. In addition, the Board is strengthening existing language that if electronic records exist and must www.wscpa.org

CLIENT RECORDS

be provided to a client, they must be provided electronically.

The Board recognized the difficult and adversarial situation that may arise for a well-intentioned CPA when a former client or a successor CPA requests records. If a disagreement arises over what records can be provided or the timing, often former clients will file a complaint with the Board to force the predecessor CPA to provide the records.

Now that the Board is involved by the complaint, if the predecessor CPA has not closely followed Board rule WAC 4-30-051, the Board has no choice but to formally discipline the CPA. This situation resulting in disciplinary action occurs multiple times every year at the Board.

The Board also recognized to protect the confidentially of client records and protect CPAs from inadvertently breaching confidentiality by releasing records to unauthorized persons, clearer definitions were needed. Not every owner of an entity is entitled to access the CPA’s records. For example, authorized persons for a corporation are only the cor-

www.wscpa.org

porate officers, a majority shareholder, or another party designated by the officers or that shareholder. If a partnership has a designated tax matters partner, only that partner or another party designated by that partner is authorized to received tax records.

On divorcing spouses, while the AICPA interpretation notes the CPA “may” provide information to both spouses because both are considered the client, the Board adopted the language that the CPA “must” provide the information to both spouses.

On electronic records, even though a CPA was already required to provide existing electronic records electronically, in practice electronic records were being provided to a successor CPA in a nonelectronic format, such as a paper copy of electronic tax depreciation schedules or a paper copy of a general ledger rather than a QuickBooks electronic data file.

While a CPA is not required to create electronic records where none exist, and is not required to convert them from one electronic format to another electronic

format, the Board strengthened existing language that if electronic records exist in a certain format, the CPA is required to provide them in that electronic format and cannot supplant existing electronic records with a different format.

Record requests by former clients carry high professional and high disciplinary risk. Board rule WAC 4-30-051 is comprehensive and more restrictive than the AICPA interpretation. Because Board rules prevail in any conflict in professional standards, with every record request, a predecessor CPA should carefully review and follow the minimum requirements of revised Board rule WAC 4-30-051.

Mark Hugh, CPA, is the principal of Mark Hugh PLLC. He is a CPA member of the WashingtonxState Board of Accountancy. You can contact him at mark@ markhugh.com.

WashingtonCPA Spring 2018

27

CLOUD SERVICES

Washington State Board of Accountancy Revises Rules on Cloud Services

By Mark Hugh, CPA

R

ecently, the Washington State Board of Accountancy revised its rules on client confidentiality to reflect the growing prevalence of CPAs and firms using cloud-based services that receive and store confidential client information. The new changes became effective February 24, 2018.

With the migration of business models to cloud services, the protection of client information has become more complex and technical. For example, for record storage there was a single physical location and a single secure point of access.

With the migration to cloud services, it is difficult to determine if a cloud-based service provider has adequate cybersecurity safeguards and information can be accessed from anywhere in the world.

With the revisions, the Board is modifying its former standard of requiring written consent for use of third-party service providers and conforming more closely to AICPA interpretations.

Before the Change Before the change, there were three applicable AICPA standards, one on integrity and objectivity, one on confidentiality, and one on professional misconduct.!And two applicable Board rules, one on confidentiality and one on professional standards.

On integrity and objectivity,AICPA ET Section 1.150.040 provides that in some cases, a CPA should disclose the use of a third-party service provider to the client but has an exception for administrative support services such as record storage, software application hosting, or authorized e-file tax transmittal services.

On confidentiality, AICPA ET Section 1.700.040 provides that when disclosing information to third-party service providers, a CPA must either determine that the third-party service provider has adequate safeguards, or alternatively obtain client consent.

28

WashingtonCPA Spring 2018

On professional misconduct (acts discreditable), AICPA ET Section 1.400.005 provides that a CPA must use the conceptual framework of identifying threats, evaluating threats, applying safeguards if necessary, and documenting that safeguards were applied. Under this interpretation, it is considered professional misconduct if the CPA cannot demonstrate that safeguards were applied that eliminated or reduced significant threats to an acceptable level.

On confidentiality, Board rule WAC 4-30-050(3) required that a CPA could not disclose any confidential communication or information without the specific consent of the client.

On professional standards, Board rule WAC 4-30-048 requires that if any professional standards differ from the requirements in Board rules, Board rules will prevail.

After the Revision With the new revision, the Board is conforming to the AICPA interpretation on confidentiality and allow CPAs to either determine that the third-party service provider has adequate safeguards, or alternatively obtain client consent.

The Board recognized that there was confusion among CPAs over whether they were required to obtain client consent before using a cloud-based service provider. Much of the misunderstanding resulted from the administrative support services exception in the AICPA’s integrity and objectivity interpretation. Under this rule, a CPA is not required to disclose or obtain consent from the client to use of a third-party service provider for administrative support services. However, if the CPA uses a third-party support provider for administrative support services, under the AICPA’s confidentially interpretation, the CPA is still required to either determine that the third-party service provider has adequate safeguards

for client information, or alternatively obtain client consent.

And, neither AICPA interpretation was consistent with the Board’s rule, which required client consent before releasing any client information to a third-party service provider. Because Board rules prevail, client consent was required.

My firm uses Microsoft Exchange for email hosting and Microsoft OneDrive for storage of records. Because client consent was required, my engagement

With the migration of business models to cloud services, the protection of client information has become more complex. With the migration to cloud services, it is difficult to determine if a cloud-based service provider has adequatexcybersecurity safeguards and information can be accessed from anywhere in the world. letters contained the standard paragraph “as part of providing professional services to you, we use secure cloud-based storage services from Microsoft for hosting and storage of all data and communications. By agreeing to this engagement, you consent that our use of these services is acceptable to you.”

With this change, I do not plan on removing that language. Under the new standard in Board rule and existing AICPA rules, if a CPA decides to not obtain client consent, but determines the third-party service provider has adequate safeguards, it is still professional misconduct unless the CPA can demonstrate that safeguards were applied that reduced or eliminated www.wscpa.org

CLOUD SERVICES

the threat to the confidentiality of the client’s information to an acceptable level.

Before or after this change, I cannot demonstrate whether Microsoft has applied adequate safeguards, as I am not competent to evaluate their systems.

Those are programming skills, not CPA skills. And, if I objected to any language in their standard software licenses regarding adequate controls, I doubt they would address my concerns.

Therefore, rather than determine whether a third-party service provider has adequate safeguards, I will continue to follow the simplest, lowest risk, readily documented, and most elegant solution, to continue to obtain client consent in my engagement letters.

The complete text of the new section WAC 4-30-050(4) reads: (4) Disclosing information to thirdparty service providers: Licensees, CPA-inactive certificate holders, or non-licensee firm owners must do one of the following before disclosing confidential client information to third-party service providers: (a) Enter into a contractual agreement with the third-party service

provider to assist in providing the professional services to maintain the confidentiality of the information and provide a reasonable assurance that the thirdparty service provider has appropriate procedures in place to prevent the unauthorized release of confidential information to others. The nature and extent of procedures necessary to obtain reasonable assurance depends on the facts and circumstances, including the extent of publicly available information on the third-party service provider’s controls and procedures to safeguard confidential client information; or (b) Obtain specific consent from the client before disclosing confidential client information to the third-party service provider.

Mark Hugh, CPA, is the principal of Mark Hugh PLLC. He is a CPA member of the Was hi ng t o nx St at e Board of Accountancy. You can contact him at mark@ markhugh.com.

STATE TAX NEXUS & NEW DEVELOPMENTS 2018 with Mark Hugh Webcasts: April 20 August 8 October 5 November 20 8am—12pm

June 27 September 7 October 27 December 31

Spokane:

December 14 | 12:30pm - 4pm

Tacoma:

November 29 | 12:30pm - 4 pm www.wscpa.org

To register or learn more go to:

Cilent Consent Example Our firm uses third-party software providers for tax preparation and electronic workpapers, including, but not limited to, UltraTax by Thompson Reuters, ProSystem fx Engagement by CCH, SurePrep,xShareFile,xCon firmation.com,xMicrosoft Exchange, and Intuit/QuickBooks.xThesexthird-party softwarexprovidersxuse secure cloud-based storage services for all or a portion of their hosting and storage of data and communications.

We may share confidential information about you with these service providers, but remain committed to maintaining the confidentiality and security of your information.x Accordingly,x we maintain internal policies, procedures, and safeguards to protect the confidentiality of your personal information.

By agreeing to this engagement, you consent that our use of cloud-based storage ser vicesxandxthird-party software service providers is acceptable to you.

www.wscpa.org/state-tax-nexus

WashingtonCPA Spring 2018

29

CHAPTERS

WSCPA Chapter Events Date

CPE Event

www.wscpa.org/chapters Code

Location

18CHBLMY07

Max Daleâ&#x20AC;&#x2122;s Restaurant (Mount Vernon)

18CHBVMY10

Flatstick Pub (Kirkland)

Indian Summer Gold & Country Club Indian Summer Golf & Country Club

Bellingham Area Chapter May 7

1

Estate and Trust Issues: New Federal Legislation & Washington State Law, 5-7pm

Bellevue Area Chapter May 10

May Networking at Flatstick Pub Kirkland, 5:30-7:30pm

Olympia Area Chapter May 2

2

A&A Update, 12-2pm

18CHOLMY02

Jun. 6

2

Best Apps for CPAs, 12-2pm

19CHOLJN06

Tacoma Area Chapter May 24

Tacoma Chapter Networking at Rhein Haus, 6-8pm

18CHTAMY24

Rhein Haus

18CHTCMY15

Tagaris Winery (Richland)

Tri-Cities Area Chapter May 15

1

GASB Statement 83: Certain Asset Retirement Obligations, 12-1pm

Spokane Golf Tournament Thursday, May 31, 2018 Circling Raven Golf Club Worley, Idaho

REGISTER NOW! www.wscpa.org/spokanegolf To become a sponsor, email memberservices@wscpa.org Thomas A. Pool 30

WashingtonCPA Spring 2018

www.wscpa.org

CPE Digest Navigating the Tax Cuts and Jobs Act with Art Werner Monday, May 21 8am - 4pm Bellevue Webcast Available

NEW TAX REFORM CPE!

The Tax Cuts & Jobs Act: How Your Clients Will Be Affected & What You Should Be Doing Now

© iStock/MicroStockHub

with George Koutelieris & Gregory White Wednesday, August 8 8am - 11:30am Bellevue Webcast Available The Washington Society of CPAs is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org For information on WSCPA CPE policies, visit www.wscpa.org/cpe/cpe-policies or call 425.644.4800

www.wscpa.org/store

www.wscpa.org

WashingtonCPA Spring 2018

31

EDUCATION AND EVENTS Date

CPE Credits

#

Course

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Type

EVENTS BY SUBJECT WSCPA education and events scheduled for April - August 2018 are listed below, chronologically by subject.

Using the online CPE & Event Catalog at www.wscpa.org/store, you can search by other parameters.

NEW CPE events added throughout year to: www.wscpa.org/store

LEARN MORE To view complete course details, please visit the CPE & Event Catalog at www.wscpa.org/store.

Date

CPE Credits

#

Course

Location

NEED HELP finding a seminar or webcast? Call (800) 272-8273 or (425) 644-4800.

Code

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Location

Accounting & Auditing 4/24

2

Use Performance Metrics: Improve Planning and Control WEBCAST, 10am - 12pm

18WBAAP24A

79

109

Webcast

4/26

8

SSARS 21: The Newly Effective Preparation, Compilation and Review Standards WEBCAST, 8:30am - 4pm

18WBCAP26A

245

375

Webcast

4/27

2

Fake Confirmations, Reports, and Opinions: Detection and Solutions WEBINAR, 8am - 10am

18WNCAP27A

79

99

Webinar

4/27

4

Fraud—Practical Approaches to Prevention & Detection, 12:30pm - 4pm

18WBCAP27A

120

188

Webcast

4/27

4

Monitoring an Organization's Policies and Procedures WEBCAST, 8:30am - 12pm

18WBCAP27B

120

188

Webcast

5/2

2

A&A Update, 12pm - 2pm

18CHOLMY02

40

45

Olympia

5/9

8

Race Toward Implementation: Tackling the Tough Issues in Adopting the New Revenue Recognition Standard WEBCAST, 8am - 4pm

18WWNRRS

310

410

Webcast

5/9

8

Race Toward Implementation: Tackling the Tough Issues in Adopting the New Revenue Recognition Standard, 8am - 4pm

18NRRSMY

320

420

Bellevue

5/17

8

Identity Theft: Preventing, Detecting, and Investigating WEBCAST, 8am - 4pm

18WWIDENT

295

395

-30

Webcast

5/17

8

Identity Theft: Preventing, Detecting, and Investigating, 8am - 4pm

18IDENTMY

305

405

-30

Bellevue

5/18

8

Real World Fraud in Today’s Small- to Medium-Sized Entities WEBCAST, 8am - 4pm

18WWFSME

295

395

-30

Webcast

5/18

8

Real World Fraud in Today’s Small- to Medium-Sized Entities, 8am - 4pm

18FSMEMY

305

405

-30

5/21

2

Understanding Inventory Accounting: GAAP, Software and Variance Recognition Basics WEBCAST, 10am - 12pm

18WBAMY21A

79

109

Bellevue Webcast

5/22

3

Preventing Small Business Fraud WEBCAST, 8am - 11am

18WBAMY22A

99

129

Webcast

5/23

2

Managing the Business Risk of Fraud WEBCAST, 8am - 10am

18WBAMY23A

79

109

Webcast

5/24

2

Becoming a Great Predictor: Create Better Forecasts WEBCAST, 12pm - 2pm

18WBAMY24A

79

109

Webcast

5/29

4

Shorten Month End - Apply Lean Thinking to Your Month-End Closing Process WEBCAST, 9am - 1pm

18WBAMY29B

139

169

Webcast

6/13

8

Common Frauds and Internal Controls for Revenue, Purchasing, and Cash Receipts WEBCAST, 8am - 4pm

19WWCFICJN

295

395

Webcast

6/13

8

Common Frauds and Internal Controls for Revenue, Purchasing, and Cash Receipts, 8am - 4pm

19CFICJN13

305

405

Bellevue

6/14

8

Internal Control and COSO Essentials for Financial Managers, Accountant and Auditors WEBCAST, 8am - 4pm

19WWICDAD

295

395

Webcast

6/14

8

Internal Control and COSO Essentials for Financial Managers, Accountant and Auditors, 8am - 4pm

19ICDADJN14

305

405

Bellevue

6/28

8

Annual Update for Accountants and Auditors WEBCAST, 8am - 4pm

19WWAUAAJN

295

395

Webcast

6/28

8

Annual Update for Accountants and Auditors, 8am - 4pm

19AUAAJN28

305

405

Bellevue

6/29

8

Audits of 401(k) Plans WEBCAST, 8am - 4pm

19WWAFKPJN

295

395

Webcast

6/29

8

Audits of 401(k) Plans, 8am - 4pm

19AFKPJN29

305

405

Bellevue

Business & Industry 4/30

2

Develop Your Company's Scorecard: Keep Success on Track WEBINAR, 8am - 10am

18WNCAP30A

79

99

Webinar

5/4

2

Galvanizing, Enabling, and Measuring Innovation WEBCAST, 9am - 11am

18WBAMY04A

79

109

Webcast

5/8

2

Cyber Best Practices and Risk Management for Accountants WEBCAST, 9am - 11am

18WBAMY08A

79

109

Webcast

 Non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

32

WashingtonCPA Spring 2018

Networking event

www.wscpa.org

Our foundation of “people first” begins with our employees.

sweeneyconrad.com

Do you have experience teaching CPE? The WSCPA is seeking qualified CPE instructors. If you have previous experience teaching CPE and enjoy teaching, contact us!

For more information, contact Lois Swenson-Grudt, WSCPA Education Operations Manager, (425) 586-1136 lswenson-grudt@wscpa.org

www.wscpa.org

WashingtonCPA Spring 2018

33

EDUCATION AND EVENTS Date

CPE Credits

#

Course

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Location

Cyber Security & Regulations – Challenges to the Accounting Practice WEBCAST, 7am - 9am

18WBAMY09A

79

Webcast

Type

Business & Industry 5/9

2

109

5/10

2

Social Media and Your Business WEBCAST, 12pm - 2pm

18WBAMY10A

79

109

Webcast

5/12

1

Understanding Value from the Customer's Perspective WEBCAST, 8am - 9am

18WBAMY12A

39

59

Webcast

5/15

3

Creating a Culture of Engagement WEBCAST, 9am - 12pm

18WBAMY15A

99

129

Webcast

5/16

4

Staff Retention: Attract and Keep the Best People WEBCAST, 7am - 11am

18WBAMY16A

129

159

Webcast

5/18

1

The High Cost of Turnover, and What to Do About It WEBCAST, 7am - 8am

18WBAMY18A

39

59

Webcast

5/31

2

Leaders Eat Last: The Characteristics of Great Leaders WEBCAST, 8am - 10am

18WBAMY31A

79

109

Webcast

6/26

8

From Hiring to Firing and Everything in Between: Legal, Tax and Health Care Issues WEBCAST, 8am - 4pm

19WWHTOFJN

310

410

Webcast

6/26

8

From Hiring to Firing and Everything in Between: Legal, Tax and Health Care Issues, 8am - 4pm

19HTOFJN26

320

420

Bellevue

Professional Conduct & Ethics – AICPA and Washington Board CPA Regulatory Update – 2018, 8-11:30 AM

19ETJRJN8

189

239

Bellevue

Webcast

Ethics 6/8

4

E

Firm & Practice Management 4/23

4

The Changing Role of the Controller: Advancing from Tactical to Strategic WEBCAST, 10am - 2pm

18WBBAP23A

159

199

4/25

8

Advanced Business Law for CPAs WEBCAST, 8am - 4pm

18WWABLTA

295

395

-30

Webcast

4/25

8

Advanced Business Law for CPAs, 8am - 4pm

18ABLTAP

305

405

-30

Bellevue

4/26

8

Analytics and Big Data for Accountants WEBCAST, 8am - 4pm

18WWDAAN

295

395

-30

Webcast

4/26

8

Analytics and Big Data for Accountants, 8am - 4pm

18DAANAP

305

405

-30

Bellevue

4/27

4

Controller’s Update: Today’s Latest Trends WEBCAST, 10am - 2pm

18WBBAP27A

159

199

Webcast

5/7

8

Current Developments and Best Practices for Today’s CFOs and Controllers WEBCAST, 8am - 4pm

18WWTCFO

310

410

Webcast

5/7

8

Current Developments and Best Practices for Today’s CFOs and Controllers, 8am - 4pm

18TCFOMY

320

420

Bellevue

5/16

8

Annual Update for Controllers, 8am - 4pm

18TKBP1MY

305

405

Bellevue

5/29

2

Cash Management Strategies WEBCAST, 11am - 1pm

18WBAMY29A

79

109

Webcast

Government / Not-for-Profit 4/23

2

Y

Single Audit Primer and Update WEBINAR, 12pm - 2pm

18WNCAP23A

79

99

Webinar

4/23

2

Y

What You Need to Know to Audit Government Programs WEBINAR, 9am - 11am

18WNCAP23B

79

99

Webinar

4/25

8

Y

Basic Concepts of Governmental Accounting, Financial Reporting and Auditing WEBCAST, 8:30am - 4pm

18WBCAP25A

245

375

Webcast

4/30 5/1

16



Governmental Accounting and Auditing Conference 2018 WEBCAST, 8am - 5pm

18WWGAAC

370

470

Webcast

4/30 5/1

16



Governmental Accounting and Auditing Conference 2018, 8am - 5pm

18GAAC

380

480

SeaTac

5/15

1

l S

GASB Statement 83: Certain Asset Retirement Obligations, 12pm - 1pm

18CHTCMY15

25

30

Richland

Personal Development 5/2

4



The Successful Woman CPA - Handling Stress, Overwhelm, & Running on Empty - Part 1 WEBCAST, 7am - 11am

18WBAMY02A

129

159

Webcast

5/3

4



The Successful Woman CPA - Handling Stress, Overwhelm, & Running on Empty - Part 2 WEBCAST, 7am - 11am

18WBAMY03A

129

159

Webcast

5/10

0

l S

May Networking at Flatstick Pub Kirkland, 5:30pm - 7:30pm

18CHBVMY10

15

20

Kirkland

5/17

8

 

Women's Leadership Summit 2018, 8am - 5pm

18WLS

315

415

Bellevue

5/18

1



Lunchtime Learning: Advanced Leadership for Purposeful Change, 12pm - 1pm

18LLMY18

0

40

Webinar

5/24

0

l S

Tacoma Chapter Networking at Rhein Haus, 6pm - 8pm

18CHTAMY24

25

30

Tacoma

 Non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

34

WashingtonCPA Spring 2018

Networking event

www.wscpa.org

EDUCATION AND EVENTS

Date

CPE Credits

#

Course

Code

Type

WSCPA NonAICPA Member Member Member Discount Fee Fee

Location

2018 Spring Conferences Great topics. Phenomenal speakers.

Opportunities too amazing for you to miss!

April 30 - May 1

Governmental A&A Conference

May 14

Washington State Tax Conference

May 15

International Tax Conference

May 17

Women’s Leadership Summit

webcast available

REGISTER NOW  Non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S 644-4800 Season Ticket/Coupons N/A | www.wscpa.org/conferences | (425) www.wscpa.org

Networking event

WashingtonCPA Spring 2018

35

EDUCATION AND EVENTS Date

CPE Credits

#

Course

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Location

Negotiating with Your Banker: Getting the Best Deal WEBINAR, 9am - 11am

18WNCAP25A

79

99

Webinar

Lunchtime Learning: Professional Issues Update, 12pm - 1pm

18LLMY4

0

40

Webinar

Type

Specialized Knowledge 4/25

2

5/4

1



Taxation 4/23

2

A Practical Guide to Trusts WEBCAST, 8am - 10am

18WBAAP23A

79

109

Webcast

4/27

1

Lunchtime Learning: Key International Tax Issues, 12pm - 1pm

18LLAP27

0

40

Webinar

5/7

1

Estate and Trust Issues: New Federal Legislation and Washington State Law, 5pm - 7pm

18CHBLMY07

30

40

Mount Vernon

5/8

8

From Hiring to Firing and Everything In Between: Legal, Tax, and Health Care Issues WEBCAST, 8am - 4pm

18WWHTOF

310

410

Webcast

5/8

8

From Hiring to Firing and Everything In Between: Legal, Tax, and Health Care Issues, 8am - 4pm

18HTOFMY

320

420

Bellevue

5/14

8



Washington State Tax Conference 2018 WEBCAST, 8am - 5pm

18WWWSTC

295

395

Webcast

5/14

8



Washington State Tax Conference 2018, 8am - 5pm

18WSTC

305

405

Seattle

5/15

8



International Tax Conference 2018 WEBCAST, 8am - 5pm

18WWINTC

295

395

Webcast

5/15

8



International Tax Conference 2018, 8am - 5pm

18INTC

305

405

Seattle

5/21

8

New! - Navigating the Tax Cuts and Jobs Act with Art Werner WEBCAST, 8am - 4pm

18WWPSNAMY

239

239

Webcast

l S

5/21

8

New! - Navigating the Tax Cuts and Jobs Act with Art Werner, 8am - 4pm

18PSNAMY25

239

239

Bellevue

5/22

8

The Complete Guide to Washington Death Taxation WEBCAST, 8am - 4pm

18WWEBXYMY

295

395

Webcast

5/22

8

The Complete Guide to Washington Death Taxation, 8am - 4pm

18EBXYMY23

305

405

Bellevue

5/23

8

Traps and Pitfalls in Estate Planning WEBCAST, 8am - 4pm

18WWTRAPMY

295

395

Webcast

5/23

8

Traps and Pitfalls in Estate Planning, 8am - 4pm

18TRAPMY24

305

405

Bellevue

6/12

8

Choice of Entity: Cutting Edge Tax Strategies in Choice of Entity Decisions WEBCAST, 8am - 4pm

19WWGGCOE

275

375

Webcast

6/12

8

Choice of Entity: Cutting Edge Tax Strategies in Choice of Entity Decisions, 8am - 4pm

19GGCOEJN

310

410

Bellevue

6/25

8

Buying and Selling a Business: Critical Tax and Structuring Issues, 8am - 4pm

19SELLJN

320

420

Bellevue

7/24

8

Determining How Much Money You Need to Retire, and Tax Ideas and Money Management in Retirement WEBCAST, 8am - 4pm

19WWDRMMJL

310

410

Webcast

7/24

8

Determining How Much Money You Need to Retire, and Tax Ideas and Money Management in Retirement, 8am - 4pm

19DRMMJL24

320

420

Bellevue

7/25

8

Social Security, Medicare, and Prescription Drug Retirement Benefits: What Every Baby Boomer Needs to Know Now WEBCAST, 8am - 4pm

19WWSSRBJL

310

410

Webcast

7/25

8

Social Security, Medicare, and Prescription Drug Retirement Benefits: What Every Baby Boomer Needs to Know Now, 8am - 4pm

19SSRBJL25

320

420

Bellevue

7/26

8

Comprehensive Guide to Tax Depreciation, Expensing, and Property Transactions WEBCAST, 8am - 4pm

19WWTDAPJL

310

410

Webcast

7/26

8

Comprehensive Guide to Tax Depreciation, Expensing, and Property Transactions, 8am - 4pm

19TDAPJL26

320

420

Bellevue

8/8

4

Federal Taxation of Legal Marijuana, 12:30pm - 4pm

19GGFTLAU

155

205

Bellevue

8/8

4

Federal Taxation of Legal Marijuana WEBCAST, 12:30pm - 4pm

19WWGGFTLA

150

200

Webcast

8/8

4

The Tax Cuts and Jobs Act: How YOUR Clients Will Be Affected and What You Should Be Doing Now, 8am - 11:30am

19GGTCJAU8

155

205

Bellevue

8/8

4

The Tax Cuts and Jobs Act: How YOUR Clients Will Be Affected and What You Should Be Doing Now WEBCAST, 8am - 11:30am

19WWGGTCAU

150

200

Webcast

8/16

8

Basis Calculations & Distributions For Pass - Thru Entity Owners - Schedule K-1 Analysis, 8am - 4pm

19BCADAU16

305

405

Bellevue

8/16

8

Basis Calculations & Distributions For Pass - Thru Entity Owners - Schedule K-1 Analysis WEBCAST, 8am - 4pm

19WWBCADAU

295

395

Webcast

8/17

8

Passive Activities & Rental Real Estate Income Tax Issues, 8am - 4pm

19PAREAU17

305

405

Bellevue

8/17

8

Passive Activities & Rental Real Estate Income Tax Issues WEBCAST, 8am - 4pm

19WWPAREAU

295

395

Webcast

8/20 8/21

16

Partnership Taxation, 8am - 4pm

19PTSAU

565

665

Bellevue

 Non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

36

WashingtonCPA Spring 2018

Networking event

www.wscpa.org

EDUCATION AND EVENTS

Date

CPE Credits

#

Course

Code

WSCPA NonAICPA Member Member Member Discount Fee Fee

Location

Partnership Taxation WEBCAST, 8am - 4pm

19WWPTSAU

555

655

Webcast

K2’s Business Intelligence, Featuring Microsoft's Power BI Tools, 8am - 4pm

18BINAP

305

405

Bellevue

Type

Taxation 8/20 8/21

16

Technology 4/23

8

4/23

8

K2’s Business Intelligence, Featuring Microsoft's Power BI Tools WEBCAST, 8am - 4pm

18WWBINA

295

395

Webcast

4/24

2

Google Big Data and Forecasting Tools for Accountants WEBINAR, 12pm - 2pm

18WNCAP24A

79

99

Webinar

5/7

2

Excel Guru – Tips & Tricks to Make Your Head Spin WEBCAST, 11am - 1pm

18WBAMY07A

79

109

Webcast

5/7

2

Excel Tips & Tools for Better Budgets & Forecasts WEBCAST, 1pm - 3pm

18WBAMY07B

79

109

Webcast

5/14

2

Make Your Information Systems Work for You WEBCAST, 8am - 10am

18WBAMY14A

79

109

Webcast

Data Analysis and Management WEBCAST, 8am - 10am

18WBAMY24B

79

109

Webcast

Best Apps for CPAs, 12pm - 2pm

19CHOLJN06

40

45

Olympia

K2’s Excel Tips, Tricks, and Techniques For Accountants WEBCAST, 8am - 4pm

19WWETTTA

295

395

Webcast

5/24

2

6/6

2

6/25

8

l S

6/25

8

K2’s Excel Tips, Tricks, and Techniques For Accountants, 8am - 4pm

19ETTTAJN

305

405

Bellevue

6/26

8

K2’s Excel Pivottables For Accountants WEBCAST, 8am - 4pm

19WWEPAJN

295

395

Webcast

6/26

8

K2’s Excel Pivottables For Accountants, 8am - 4pm

19EPAJN26

305

405

Bellevue

7/30

8

Cybersecurity Advisory Engagements WEBCAST, 8am - 4pm

19WWCSAEJL

295

395

Webcast

7/30

8

Cybersecurity Advisory Engagements, 8am - 4pm

19CSAEJL30

305

405

Bellevue

7/31

8

Cybersecurity Risk Management Program Essentials WEBCAST, 8am - 4pm

19WWCRMPJL

295

395

Webcast

7/31

8

Cybersecurity Risk Management Program Essentials, 8am - 4pm

19CRMPJL31

305

405

Bellevue

Formerly the Lunchtime Learning series

Prix Fixe CPE

Fulfill your 40 hours of CPE for only $299!

Free Member CPE Up to 10 free select one-hour CPE webinars

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Selected Topics

WEBINAR SERIES Dates

Fireworks & Federal Tax Review.........................7.6.18 ABC’s of Blockchain...............................................8.3.18 Balance Sheet & Cash Flow Projections..............9.21.18 CR2: Comp & Review Review.........................10.12.18 FASB Friday!......................................................11.30.18 See full menu and details at www.wscpa.org/prix-fixe

Selected Topics Dates Fraud: Find It & Fight It...................................12.7.18 New Year’s Tech Resolutions..............................12.21.18 Death Is Scary Enough: Estate Tax Issues..........2.15.19 Identity Theft: Not If, But When......................3.15.19 And much, much more!

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 Non-tech credits | E Ethics credits |  Conference | Y Yellow Book | C CFP | l Chapter event | S Season Ticket/Coupons N/A |

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37

CLASSIFIED ADS Detailed advertising information is available online at www.wscpa.org under More. Ads are $1 per word, with a $50 minimum fee. Active e-mail and web site addresses are included. Ads are placed on the website for 60 days when received and in the next magazine when received by the deadline, June 1 for the Summer 2018 issue. Post a job listing at www.wscpa.org (click Job Board.) Use the Miscellaneous category for rental or vacation property.Contact JanetWhite at (425) 586-1126,or memberservices@wscpa.org for more information.

All ads must be pre-paid.

a company as far as they want to or can? IBA is the Pacific Northwestâ&#x20AC;&#x2122;s oldest business brokerage (M&A) firm. We are professional negotiators with over 4000 completed transactions. Please contact us if we can be of assistance at (800) 218-4422 or www.ibainc.com Contact Us to Sell Your Tax or Accounting Practice! Private Practice Transitions can help you realize an amazing return on your investment! We have several buyers in the Greater Seattle Area who are looking to purchase now,are approved for financing, and/or have cash-in-hand. Call 253.509.9224 to learn more!

MERGERS & SALES Considering SellingYour Practice? Consider all your options.We do the work.Confidential.We have buyers actively seeking practices. Call Mark Hause at (877) 345-7722 or visit our website at www. accountingpracticesales.com Accounting Practice Sales.We make dreams happen!

Pierce County Tax & Accounting Practice Private Practice Transitions is assisting a client, located in Pierce County, with the sale of a busy tax and bookkeeping practice. This owner has been in practice for more than 11 years and desires to sell the business as a turnkey operation. The firm files more than 500 tax returns each year for both business and individuals. While tax return preparation accounts for about 65% of the firmâ&#x20AC;&#x2122;s business, 35%

IBA Sells Privately Held Companies. Do you represent a client who is ready to retire,or has taken

comes from bookkeeping and payroll services.The firm is located in a growing, Pierce County location, employs two (2) full-time staff and is positioned for substantial growth! If you are interested in exploring this opportunity or to learn more, email â&#x20AC;&#x153;Pierce CountyTax &Accounting Practiceâ&#x20AC;? to info@ privatepracticetransitions.com or call 253.509.9224.

Busy EastsideTax & Accounting Practice Private Practice Transitions is assisting a client, located in East King County, Washington, with the sale of a busy tax and accounting firm. The practice was founded nearly 40 years ago and the owner desires to sell the business as a turnkey operation.The firm files more than 490 tax returns per year.While tax return preparation accounts for about 74% of the firmâ&#x20AC;&#x2122;s business, 26% comes from other consulting and bookkeeping services. The firm employs two full-time staff, has loyal clients, increasing revenue, and is located in a growing Eastside city. If you are interested in exploring this opportunity or want to learn more, email â&#x20AC;&#x153;Busy Eastside Tax & Accounting Practiceâ&#x20AC;? to info@privatepracticetransitions.com or call 253.509.9224.

VOLUNTEER OPPORTUNITIES These organizations need a CPA to serve on their board of directors and/or provide guidance on other financial matters.

Learn more about these and other organizations in need of your help, under Volunteer Opportunities for CPAs, at www.wscpa.org/more/ marketing-to-cpas

38

WashingtonCPA Spring 2018

Therapeutic Riding of Tri-Cities â&#x20AC;&#x201C; New! Woza Soccer â&#x20AC;&#x201C; New! Interlake Child Care and Learning Center â&#x20AC;&#x201C; New! Helping Link Birthday Dreams Washington Coalition for Gifted Education

CROSSWORD PUZZLE

Northwest Girlchoir â&#x20AC;&#x201C; New!

Across

Down

2 Balance 5 Affirmative vote 6 Britainâ&#x20AC;&#x2122;s leaving it 7 Extension (of a license) 9 Theoretical futures price 10 Cost traceable to a

specific item 13 Called for redemption

before maturity 15 Bank claim 16 Popular business magazine 17 Rush hour report topic

1 2 3 4 8 11

12 14

Export duty _______ Public Accountant Care for Proof of purchase Taken off the books Representative, such as in business transactions Come from behind To lease or let

Check the WSCPA blog for the answers! www.wscpa.org

CLASSIFIED ADS PRACTICES FOR SALE

Contact Mark Hause at Accounting Practice Sales by e-mail at MARKHAUSE@CONTACTAPS.COM or call (877) 345-7722 for more information on the following practices: SOLD - (WA 1122) Everett: This CPA firm for sale can be described as a traditional practice with tax revenues equaling approx. 70% of all revenues received. The balance of the revenue mix is a write up practice that provides the needed balance for out of season revenues and value added consulting opportunities. The firm has focused on providing professional services with a personalized touch. The strength of this concept results in the annual return of clients on a year over year basis that is the core of this practice. This proven entity is the perfect size for any number of buyers and is primed for continued success and challenge to any buyer.

SOLD

(WA 1121) Snoqualmie: This EA practice with a concentration on rendering tax preparation services is for sale. The firm revenues are concentrated in the preparation of income tax returns (93%) with enough write up work (7%) to provide variety and the opportunity to provide value enhanced services.

Tax time brings the normal busy season along with extended returns totaling 300+ returns on an annual basis.The firm is proactive with its clients encouraging frequent communication to avoid year-end surprises.

This practice provides opportunity for many different buyers from those seeking to finish a practice with an acquisition, those seeking to own their first practice, or a nearby firm looking for the perfect acquisition all found in a great location.

Pierce County Tax & Accounting Practice: Private PracticeTransitions is assisting a client,located in Pierce County,with the sale of a busy tax and bookkeeping practice.This owner has been in practice for more than 11 years and desires to sell the business as a turnkey operation.The firm files more than 500 tax returns each year for both business and individuals.The firm is located in a growing, Pierce County location, employs two (2) full-time staff and is positioned for substantial growth! If you are interested in exploring this opportunity,email“Pierce CountyTax &Accounting Practice” to info@privatepracticetransitions.com or call 253.509.9224.

Profitable Eastside Tax & Accounting Practice: Private Practice Transitions is assisting a client, located in King County, with the sale of a busy tax and accounting firm.This owner has been in practice for nearly 40 years and desires to sell the business as a turnkey operation.The firm files more than 600 tax returns each year for both business and high net worth individuals. The firm is centrally located in a well-established, thriving market, poised for explosive

Trying to catch the best CPA talent you can?

Looking to reel in a new job opportunity? www.wscpa.org

always return each year. The Seller will consider any number of different alternatives from qualified buyers to assist in the purchase of this practice.

growth.The firm employs two staff in a fully furnished office with room for additional staff. Email “Profitable EastsideTax Practice” to info@privatepracticetransitions.com or call 253.509.9224.

(WA 1120) Skagit Valley: This full service CPA firm is for sale. The term full service, in this instance, means a variety of professional services including tax preparation & consulting,multiple levels of attestation including auditing and compiled financial statements, and write up services all under one roof. The firm has a long term presence in the market served which means many long term clients who refer new clients every year. This firm has it all including an excellent professional staff that assists the owner in rendering these high level professional services with per return averages that are excellent. The presence of a solid staff and this suite of professional services provides opportunity that is very uncommon.

(WA 1116) North Snohomish County: This CPA firm renders the normal suite of professional services that includes income tax, write up, & audit/ reviews. The one additional element in this firm’s mix of services is financial services. The presence of these revenues provides for a balanced revenue cycle year after year. In addition, the firm has an excellent staff that allows the owner to be out of the office approx.2 weeks per month except during the busy time of tax season. To offer flexibility for interested buyers, the firm will include the financial services as part of the sale or not. The asking price of the financial services practice is not included in the information provided to buyers and will be separately negotiated.To further assist buyers, the Seller will provide financing alternatives for qualified buyers. This practice is an excellent choice for an individual or a firm looking for a quality addition to their practice.

(WA 1118) Central Puget Sound Near Seattle: This CPA practice with a well-balanced revenue stream is for sale. The firm revenue dollars can be accounted for as follows: 50% tax, 42% write up, 8% audits, reviews & compilations. The per return averages are excellent and rival big city firms in average fees. The staff of the firm is a real strength with a host of professionals that assist the owner in rendering high level professional services. This practice is as turnkey as you will find with long term clients who

SOLD - (WA 1119)Vancouver: This tax centered CPA practice is for sale. The firm is an unusual combination of big firm fee averages and small firm profit margins equaling 80% all combined into one excellent practice. The practice revenue mix is 93% tax, 5% reviews, and 2% consulting.The firm’s real specialty is customer service with an extremely loyal client base who return year after year. This practice with billing rates that equal on average $210 per hour also has well above average realization rates. The final element of this practice is the presence of the opportunity to add additional value added services. All of these qualities mean this practice works for any number of buyers whether big or small.

SOLD

SOLD - (WA 1112) Renton: This well-established Enrolled Agent practice is for sale. The firm is a tax practice with only a minimal amount ($2,000) of write up services.The client base is centered on individual returns,but does include many business returns as well.

The fee structure is excellent reflecting a client base with income levels who require qualified professional services to solve their tax problems. This profitable practice, (77% Net Cash Flow) and available for immediate possession, is an ideal opportunity for an experienced tax professional who seeks a challenge and the commensurate financial reward.

SOLD

SOLD - (WA 1109) Vancouver: This long-term CPA practice is for sale.The firm provides quality tax services to a loyal client base of individuals and business entities. The firm’s service mix is write-up and income tax.The foundation of the firm has always been a proactive approach to client service. The ongoing communication whether a phone call or email prevents the end of year surprises.This practice is a solid addition to an existing form or the startup of a new practice.

SOLD

SOLD - (WA 1108) Centralia/Chehalis Area: This well balance CPA firm that has been providing professional services for a number of years is for sale.

The practice has excellent balance with the workload split between income and write-up services and revenues occurring throughout the year and not just tax season. The firm enjoys an excellent reputation in the community and receives referrals from other professional service groups in the community. The practice’s qualities combined with an excellent staff that offers support and continuity for the new owner in transitioning the clients.To assist buyers, the Seller will consider financing the sale of the practice with Buyers who have excellent credit, collateral and a substantial down payment.

SOLD

Try dropping your line at the WSCPA Job Board. www.wscpa.org/job-board WashingtonCPA Spring 2018

39

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