Archive for the ‘President's Message’ CategoryStarting a Great YearJanuary 12th, 2010
This looks to be another great year for the chapter. We begin with the Economic Forecast Breakfast Tuesday, Jan. 19, co-sponsored with the Newport Beach Chamber of Commerce. I hope you can attend and perhaps bring a client with you because this is a very interesting and informative event. Register online.
Looking ForwardDecember 9th, 2009
The new year looks to be a great one for our chapter. We begin Jan. 19 with the Economic Forecast Breakfast, co-sponsored by the Newport Beach Chamber of Commerce. I hope you can attend—and perhaps bring a client with you. This is a very interesting and informative event. Register at the CalCPA website.
Standard on Engagement Quality ReviewNovember 11th, 2009
As many of you know, the Public Company Accounting Oversight Board has adopted Auditing Standard No. 7, Engagement Quality Review, which applies to all audit and interim financial review engagements that are conducted pursuant to the PCAOB’s standards. This standard, if adopted by the SEC, will become effective for audits and interim reviews for fiscal years beginning on or after Dec. 15, 2009.
Preparing for ChangeOctober 8th, 2009
As we begin our wrap-up of 2009 and look forward to 2010, it is clear we are going to be faced with many changes. Almost all I read about the economy suggests that the recovery will be a slow and modest process. As trusted advisers, whether in audit, tax or consulting, we need to proactively help our clients through these periods of change and encourage them to maintain a positive outlook. Perhaps the ideas below will help you make this happen. There is a large body of change management knowledge, but the foundations of almost all of this knowledge address the phases that an individual or organization must go through during the change process. Referring to the Prosci model, the five specific stages that must be realized for an organization or individual to successfully change are:
When these stages are understood, the change management processes and tools can be applied with the least resistance and maximum buy-in. This requires a structured approach so the transition will be controlled and smooth. Applying this to everyday pressures, however, is difficult, as one tends to get bogged down in daily tasks. What can work, though, is to step back from these pressures, clear your mind and take a fresh look at what’s happening. Research and networking go a long way in helping to attach a framework to the realm of change. Thereafter, analysis and judgment are key ingredients to developing a successful plan. Whether you are considering growing your business or branching out to provide other services to your clients, the most important step is to prepare a plan that guides you through the change process. This plan also should provide measures that allow you to modify it if necessary and give you reasonable assurance that your objectives will be met upon successful implementation. All these concepts apply to your clients as well. The economic, legislative and regulatory environments are in a state of flux. Maintaining the status quo will not take us where we need to be down the road. I encourage you to give some thought to where you want to be and develop a strategy to attain those goals. It takes less time to do things right than to do them over. My best to all of you.
Summer ReflectionsSeptember 11th, 2009
The Fall Seminar Series started Sept. 8 and continues on Tuesday evenings through Nov. 3 (with a week off Sept. 15 and again Oct. 13). We have a great lineup of speakers and there is plenty of accounting, auditing and fraud continuing professional credit available. Danny Santucci will be the featured speaker Sept. 22 and Wealth Management Network will host a reception beginning at 5 p.m. Please be sure to sign up online for the best and most economical continuing education available. Last year your chapter board voted to award a scholarship to a doctoral candidate majoring in accounting at UC Irvine. Each year, for three successive years, we will be awarding $10,000 to a deserving candidate to help support the creation of much-needed accounting professorships. We are able to make this significant contribution thanks to your support of chapter scholarship events and through donations to the scholarship fund. We encourage you to continue this important support. Two years ago we created the CFO of the Year Awards. This event has grown to be a showcase for recognizing outstanding contributions to the business community by accounting and finance professionals. Now sponsored by CalCPA and other organizations, including the Orange County Business Journal, the awards dinner is held each January. Our chapter will receive a $2,500 contribution to its scholarship fund this year from the proceeds of the event. We encourage you to attend this gala evening and will provide additional information regarding registration as the date nears. In addition, if you would like to make a nomination for a CFO of the Year or would like to participate on the chapter’s selection committee, please respond to this blog. As we begin to get ready for another busy season, let’s not forget to enjoy the love and friendship of family, friends and colleagues throughout the coming months. This is a great source of energy to keep us going through the heavy workloads of year-end and the upcoming tax season. It is always good to remember in some special way those who support us through these busy times and make out lives much more rewarding. My best to all of you.
Helping Tomorrow’s LeadersAugust 7th, 2009
There are a lot of pressures on each of us to work long hours to achieve our business goals. Recent economic events haven’t made this any easier and every firm is reducing costs wherever possible. That means they are doing more with fewer resources, thereby making it difficult for practitioners to get involved in volunteer activities. The challenge of finding interested and willing professionals to give some of their time to become officers and board members is a tough one. We can meet this challenge if we look at it from a new perspective. First, we need to re-evaluate the priority of having local chapters serve member needs. Clearly, if they have outlived their usefulness, we should rethink how members can be better served and redesign this delivery process. This is a topic for discussion among board members with input from members at large. I am not sure another member survey is going to provide any insight, but perhaps a focus group would get at some of the real issues and guide the board in developing a better service delivery system. I will work on this in the coming months and report on my progress. Second, we need to reconsider the benefits of volunteering our time to make our community a better place. Clearly, professional development is a critical element of every practitioner. However, a broader perspective immediately leads to a need to expand our focus and look for ways we can give something back to the community and profession. This is what makes a professional more valuable. To this end, I encourage each of you to look for ways you can make a contribution that fits your development goals and provides you with the rewards of giving. While the immediate interest is in serving on the board, other volunteer activities are every bit as important. Finally, I realize the biggest obstacle for serving on the board is the time required. While we have tried to limit the time required of any one individual by having sufficient numbers of volunteers to spread the load in a manageable way, we can do more by making it even less of a commitment by encouraging individuals to become associate board members and serve in a less demanding role. To that end, I am looking for individuals who would like to become part of a program to prepare for chapter leadership. These people will be asked to attend two board meetings this year and help with one chapter event. A mentor on the board will help you gain an understanding of what the chapter is about and how we go about achieving our objectives. If you then find your participation to be worthwhile, you will become a candidate for board director. This could be for the coming year or a subsequent year. So, if you find this of interest, or know of someone who would, please respond to this blog with your name, firm, telephone number and e-mail. I will contact you and we can discuss your interest. Thanks for considering this request.
Proud MomentsJuly 6th, 2009
We are facing some really big challenges in California regarding the budget and cash deficits. Once you get past the political rhetoric, it is clear that we need superior leadership to get us through the tough times ahead. As always, it is difficult to gain consensus on big or little issues, but we will need a lot of it when the cash runs out. Our credit is worthless and we are unable to deliver the services our state’s residents deserve. I encourage all of us to keep abreast of the continuing saga in Sacramento and help family, friends and the public better understand what the issues really are. None of us has all the answers, but we can lend some perspective and good judgment to the opposing arguments. On a brighter note, we began our chapter year with the annual orientation meeting for board members, officers and interest group chairs in June and will be holding our Student Scholarship Reception in July. As you know, we provide scholarships to deserving students majoring in accounting at the two- and four-year colleges and universities in Orange County. We have been able to do this through fund-raising activities, including the Fall Seminar Series, Economic Forecast Breakfast and the Annual Chapter CPA/Guest Golf Day. Keep an eye out for announcements regarding these and other exciting events coming up. We would love to see new faces at our events. Now that summer is here, many of us will be taking vacations with our families and friends and enjoying some relaxing time off from work. I hope all of you will have the opportunity to get away from your routines and do something fun. We tend to take our work very seriously and that means we dedicate almost all our time to whatever needs to be done. But it is important to disengage once in a while and recharge our batteries. Respectfully, Brian Rush, CPA, CIA
A Special YearJune 11th, 2009
I have selected two particular goals for this year and I encourage you to consider participating in either or both. First, I believe financial literacy is an important area in which CPAs can provide leadership and expertise. To support this, I plan to establish a speakers bureau comprised of willing and interested CPAs who can discuss money-related issues with educational, community and other citizen groups. There are many prepared presentations on a variety of topics that require only the knowledge you already possess to provide an audience with solid information and a basis for learning more. We will match the speakers with opportunities as they arise. No one will be expected to give more of their time than they can afford. As this effort gains momentum and stability, we will provide additional information and ask for your specific help. I look forward to a warm response to this program. If you have an interest in this area, please respond to this message via the “Leave a Comment” link at the end of this message. Second, we have a need to strengthen the pipeline for chapter leadership. Having served the chapter for more than eight years, I can say I have gotten more out of my service than I have given. I would like to start a program whereby we introduce associate board members to chapter meetings and events so they have an opportunity to see how things work and provide input for improvements. The chapter would provide a mentor for each associate, probably two members in the first year. The associate would be asked to attend three or four meetings and events over the year based on their interests and availability. In succeeding years, if they have sufficient interest in serving on the board, they would be natural candidates. If they find that there is no interest, they will not have invested too much time. If you think this might be of interest to you or to someone you know, please drop me a line and we will arrange a meeting. This is a very effective way to give something back to the profession and have some fun. I want to express my thanks to the officers and directors who have contributed so much to the chapter this past year. Monica Rebella, outgoing president, did a sensational job keeping us focused on our mutual goals. She will continue serving as immediate past president. Jeff Lenning will move from treasurer to first vice president and run the Fall Seminar Series. Jeff made a significant contribution last year and will continue to do so this year. Donita Joseph, who is leaving the board, served it well as secretary. Thanks to her for all her hard work in recording our discussions. Thanks too to all the directors, many of whom will be returning. Special note is given to Sherry Radmore, chair of our membership interest group, and Gary Wilson and Jennifer McCasland who jointly put on the most successful Economic Forecast Breakfast event we have had in many years. We could not have accomplished anything without the help and support of our program associate Nancy Wilson and our program director Gary Hammond. They deserve special thanks and appreciation for all they do in support of our chapter. This year is special and I invite all of our members, and those who might be considering membership, to become included in our network. We have a lot of interesting activities planned and look forward to sharing the fun we have with new colleagues. Don’t hesitate to contact any of your board members for more information or to get involved.
Legislation RecapMay 11th, 2009
Seriously, I hope everyone is taking or going to take off some time to relax and reinvigorate, as well as re-introduce yourself to family and friends after a long busy season. And all of you not in public accounting I hope you take some time off this summer as well. My goodness, we all deserve it! This is my last President’s Message, and I complete my themes of sharing knowledge and experiences with an update on California legislation, which will effect our profession, from my conversation with Jeannie Tindel, CalCPA’s director of legislation. The people in our government relations department do a terrific job of keeping on top of legislation in Sacramento that is affecting our profession, including research, FAQs, watching for news articles that are inaccurate and responding, (including the OC Register’s article on SB 691 last week), sending announcements out to us, and attending hearings on the various legislation. Thank you! SB 691: 150-Hour Education Requirement All state CPA societies; the AICPA; the Asian, Latino, and African American CPA societies; plus others support this bill. The Senate Business, Professions and Economic Development Committee approved the bill 7-0 April 27. SB 691 will now move to the Senate Appropriations Committee. If it clears that committee, it would then go to the Senate floor. We ask that you write Sen. Lou Correa, he is from our area, and thank him for voting for SB 691: Honorable Lou Correa; California State Senate; State Capitol; Sacramento, CA 95814 AB 129: Protect CPA –Taxpayer Privilege SB 117: Inactive CPAs There are 2 other Senate bills, which CalCPA supports: one that supports the California Board of Accountancy Peer Review requirement, and one that provides an exemption for CPAs providing fiduciary services. Please mark your calendars and join us for upcoming special events.
In closing, I thank Nancy Wilson, our chapter’s program associate, for the hard work and support she has provided me this year. She really drives the success of our chapter. I also thank all the other officers, board of directors, interest group chairs, and Gary Hammond, our program director, for their many hours of hard work for our chapter and their support. My last comments are to thank all of you for allowing me to serve as your chapter president. It has been a pleasure and an honor, which I will treasure. Your humble president,
Dealing With ChangeFebruary 5th, 2009
For those of you like me who are embarking on yet another busy season, just remember: We love meeting with our clients and we always get through busy season. I hope you keep a few good friends’ e-mail addresses and telephone numbers nearby during busy season, just for support and reality checks from time to time. Busy season is tough on staff members as well, so please make sure you check on your staff to let them know you care. Regardless of whether your busy time is now or at another time of the year, do you remember when you began your accounting career? In my early career, busy season made me think, “Oh my goodness, what have I gotten myself into?” Today it is so hard to find good staff that we certainly do not want to loose someone after a busy season in which they thought no one cared how hard they worked. On another subject, are we ready for change? We have a new president and Congress. They promise hope and several other things, but mostly change. Not only do we look to them for positive change, but we also rely on them for steady and upward progress in our economy, banking stability and market growth to help get our state and country headed back toward prosperity. Much will change in the areas of taxation, legislation and regulatory oversight. As I have stated in all my messages, we all need to share our knowledge and experiences. This message is no different. Our clients, fellow CPAs and firms will need our help during this year of change. We all possess unique skill sets and must be ready to advise clients and firms on where they can cut costs and where profit centers exist and should be exploited. As CPAs, we are excellent at providing insightful analysis, no-nonsense budgets and experienced counsel. We will have clients, friends, relatives, co-workers and neighbors looking for help in understanding their situations and how these changes will affect them. Some of these people may be out of work, some may have lost their homes and others may have lost their retirement savings. Additionally, some companies are out of business or looking at bankruptcy. All need sound advice. It is not going to be easy, but we are caring and skilled professionals who are ready for this challenge. In good times and bad, CPAs have much to offer. Our profession provides us with almost a recession-proof career. Some of you may want to volunteer your time to help at your church or other nonprofit organization to assist those individuals who cannot pay for help. I encourage you to take a look at the Education Foundation courses and other publications for examples of how to help clients through difficult times. I also ask you to be ready as a resource to other CPAs. We are an organization that not only promotes our profession, but also supports each other by sharing our knowledge and experience. It works very well—try it! As Kahlil Gibran said, “You give but little when you give of your possessions. It is when you give of yourself that you truly give.” Your humble president,
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I sincerely hope 2010 is a prosperous and rewarding year for all of you!
