Happenings!

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This article first appeared on CPAPracticeAdvisor.com. The IRS recently released the updated W-12 (PTIN Application Renewal) form and one of the questions that preparers will need to take note of is #11-Data Security Responsibilities which states:  “As a paid tax return preparer, I am aware of my legal obligation to have a data security plan and to provide data and system security protections for all taxpayer information. Check the box to confirm you are aware of this responsibility.”   Security responsibility and resources are outlined in IRS Publication 4557-Safeguarding Taxpayer Data and IRS Publication 5293-Data Security Resource Guide for Tax Professionals. ...
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By Roman H. Kepczyk, CPA.CITP, PAFM When traveling for work, most people are outside their normal element and identity thieves know how to take advantage of this. They target travelers to get to specific data assets-not just wallets and skimming credit cards but also laptops, smartphones and tablets. Thieves know these devices contain digital information that can be sold/utilized on the dark web and then they can sell the hardware after they have extracted all sellable data which is why organized gangs target areas frequented by travelers. Below we outline key considerations for firm managers to educate their mobile personnel before they travel, some of which ...
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Think Security First!

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The CPA Firm Management Association is excited to partner with a world class expert like Neal O’Farrell and to bring this important information to our members. As an organization representing more than 1,200 CPA firm managers responsible for the management of accounting practices throughout the United States and Canada, fraud prevention and cybersecurity are always a top concern for us. For that reason, CPAFMA has partnered with Neal O'Farrell and Right Networks to bring members Think Security First! We work tirelessly to make sure our members are aware of the latest threats and risks, and have partnered with vendors with the best tools available to protect ...
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For a limited time, the AICPA is releasing 140 free CPA Exam multiple-choice questions (MCQs). Each of the MCQs was previously used on one of the four sections of the live Exam. They are available for download now through December 31, 2019. Please share these MCQs with your firm CPA candidates to aid them in their studies.
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5 firms. 5 students. Up to $100,000 in scholarships for our shared commitment to a diverse and forward-looking profession. Firm applications due November 1, 2019. To apply, click here . CPA firms of all sizes understand the business case for developing a diverse team. But many firms are challenged to find, retain and develop ethnically diverse talent. That’s why PCPS is connecting member firms with promising accounting majors of ethnically diverse backgrounds. By participating, your firm demonstrates your commitment to diversity while gaining an edge in recruitment. Your firm will serve as the entry point to practical experience and exposure to public ...
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Chicago-based  BDO USA (FY19 net revenue of $1.64 billion) is acquiring   Peterson   Sullivan   of Seattle, marking further expansion into the Pacific Northwest with 175 staff, including partners. The deal should be complete Nov. 1. Wayne Berson , CEO of BDO USA, says the addition is part of the targeted growth strategy of the firm, which is ranked No. 7 on the 2019 IPA 100 list. “Peterson Sullivan and BDO share common values – believing strongly that an exceptional culture with exceptional people results in an exceptional client experience.” Peterson Sullivan (FY18 net revenue of $31.9 million), founded in 1953, serves clients in a variety of industries, ...
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Buffalo, N.Y.-based   Freed Maxick   (FY19 net revenue of $49.6 million) has hired   Bryan Donohue   as the firm’s first COO. Donohue, a CPA, has a strong background in operations, finance and leadership. He spent the last 14 years with the   Buffalo News , most recently as senior vice president, COO, treasurer and board member. Donohue will play an integral role as a key member of the firm’s leadership team, managing day-to-day operations at all offices as well as overseeing internal accounting, marketing, human resources and IT departments. Managing Director   Henry Koziol   states, “We will look to Bryan to ensure that our firm has the proper ...
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Firm managers are called to be leaders – by the best traditions of the accounting profession, by standards of professional responsibility, and by the expectations of the communities in which they work and live. And yet, until recently, there has been little attention given to leadership training for those responsible for the day-to-day management of CPA firms as they enter the profession and begin to develop the skills necessary for their success and the success of their firms. In an effort to prepare emerging leaders for this calling, the CPAFMA is providing a leadership training program in cooperation with  Succession Institute . The CPA Firm Management Association ...
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All of us are aware that we are living in an environment of accelerating technological change and that if we can’t adapt our accounting practices to take advantage of these business and technological opportunities we will certainly find our firms at a competitive disadvantage in the future. So, what is your firm doing about this today? The solution is not to wait and see, but to develop a proactive effort to identify, implement and standardize best practices and tools by institutionalizing a culture of learning. Below we list our top tips that promote your firm building an effective learning culture. Owner Buy-in : It is critical that owners understand the ...
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In recognition of the evolving trends in digital operations, the CPAFMA 2019 Digitally Driven Firm Survey - formerly the CPAFMA Paperless Benchmarking Survey, the longest running paperless benchmarking survey in the accounting profession - was conducted as an update to the Association's 2017 survey. This important resource has been updated to provide you with the valuable, consistent benchmarking that we've all come to rely on through CPA Firm Management Association. Thank you to Roman Kepczyk, Right Networks for spearheading this project. 2019 CPAFMA Digitally Driven Benchmark Survey Results PODCast from December 2018 MAPCast with 2019 CPAFMA Digitally ...
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