FY10 Board of Governors
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John D. Griffin, CPA
President
AARP
Daniel Black, CPA President-Elect
Daniel Black & Assoc.
Stanley Berman, CPA
Vice-President
Global Impact
Abdool Akhran, CPA
Treasurer
Bert Smith & Co.
Hillary Coley, CPA
Secretary
Trout Unlimited
Patricia A. O'Malley, CPA
Immediate Past President
Rubino & McGeehin, Chartered
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Kenneth Emson, CPA
Community Foundation for the National Capital Region
Brenda Hargett, CPA
American Petroleum Institute
Malcolm Karl, CAE
Eagle Bank
Daniel Kovlak, CPA
KPMG LLP
Quinn, Lobel & Assoc., P. C.
Sue Marcum, CPA
American University
R. Michael Sorrels, CPA
Cherry, Bekaert & Holland, LLP
Patricia Wensel, CPA
USDA, retired
Jacqueline Bryant, CPA
Tate & Tryon CPAs
Joseph S. Drew, Ph.D.
Strayer Univ.
William Eisig, CPA
BDO Seidman
Daniel Lynch
KForce Professional Staffing
Uzma Malik-Dorman,CPA
Thompson Cobb Bazilio
John Wooldridge, CPA
Larson Allen LLP
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Dear Friends ,
If you were at our Annual Meeting this past June, then you know we have been thinking about having more regular membership meetings, with a goal of bringing sectors together across topics of interest to all CPAs.
So with that in mind, I am pleased to announce our first quarterly membership meeting-and it's the hottest of hot topics!
GWSCPA Fall Membership Meeting
Web 2.0, Social Networking, Cloud Computing...What does it all mean for a CPA?
This session is presented by Byron Patrick, CPA, CITP, MSCE 2003. Byron is the Cofounder and CEO of Hosted Solutions, Inc., a technology outsourcing and hosting company specializing in CPA Firms and was also recently nominated to the AICPA Executive Information Technology Committee.
His recent presentation on this topic to our Young and Emerging Accountants Committee was very well received, and now it's your chance to get up to speed.
The quarterly membership meeting will open at 8:00 AM with a light breakfast and networking, and the presentation will start at 8:30 AM and will qualify for one hour of CPE.
Registration is open to GWSCPA members only and is FREE!
I look forward to catching up with you at this event!
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What's new at GWSCPA
Member Benefits-Make the most of your GWSCPA Membership!
Through our partnership with AICPA, there are three member insurance plans that AICPA makes available to members of the GWSCPA. The first is life insurance, which is available as a term, group variable universal life and level term product. Members of the GWSCPA, and their spouses, are eligible for up to $500,000 of coverage. Members of the both the AICPA and GWSCPA are eligible for up to $2 million coverage. The second is the Long Term Disability Plan. GWSCPA members are eligible for $4,000 per month in coverage should they have a disability and that increases to $12,000 per month for those who are also AICPA members. Both the Life and Long Term Disability Plans are underwritten by Prudential and are in the AICPA Insurance Trust. Because they are experience rated based on those in the Trust, there are no insurance agent commissions and the premiums are very competitive. The third plan is the Professional Liability Insurance Plan. This is available only to members of the AICPA and/or state society. This is underwritten by C N A and there are nationally more than 25,000 firms in the plan through AICPA's partnership with state societies like GWSCPA. For more information on all the AICPA insurance plans, please go to www.cpai.com
New Staff
GWSCPA is pleqased top anounce anohter new staff member has joined our team. Sara Cannon started in September as our Finance and Administrative Assistant. She's the cheery voice you'll be hearing now if you call us in the afternoons. Sara is a Biology student now, but has worked with her mother, a Maryland based CPA, in the past and is excited to join our state CPA society.
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| Upcoming events
GWSCPA/IMA Conference:
Current Issues in Government Contracting
October 29, 2009
8:00 AM- 4:30 PM
McLean Hilton
McLean, VA
Join us for 8 hours of CPE in this constantly changing environment! Topics include DCRA, TINA, ARRA, GSA and other issues...
CFO Roundtable November Meeting
The first meeting of this GWSCPA-partnered event was a resounding success, with 30+ CFOs in attendance to share issues and ideas with their peers. The next meeting will take place on November 11 at Congressional Country Club in Bethesda from 7:30 AM-9:00AM.
Speaker : Dr. Anthony Sanders, George Mason University
Topic: Corporate Growth Strategy- The Continued Role Real Estate Plays in Shaping Corporate Strategies
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Regular Committee meetings
Government Auditing and Accounting Committee
Thursday, Oct 22 - 12:00 PM
Lunch and CPE speaker: Ed DeSeve, senior advisor to OMB for Recovery Act Implementation, Implementing the Recovery Act
Not-for-Profit Committee
Oct 27, 8:30 AM
Breakfast and CPE speaker: LORE Systems: IT Outsourcing, Green IT and Disaster Recover and IT Contingency Plans
YEA-Young and Emerging Accountants
Nov 5, 6:30 PM
Upcoming Events Planning Meeting |
| Legislative/Regulatory Update
Red Flag Rules
The GWSCPA has sent a letter to the Federal Trade Commission (FTC), advocating that CPA firms be exempted from the FTC's Red Flag Rules. Developed to protect consumers from identity theft, the rules require businesses to have a written identity theft prevention program in place as they relate to billing of services rendered. The rule applies to many businesses, including accounting firms, according to the AICPA and could result in excessively burdensome new procedures for CPA firms.
The start of the enforcement of the rule, which has been postponed three times to date, is now set for Nov. 1, 2009. Additional guidance from AICPA is anticipated later this week.
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The Profession
CBT-e launch - January 1, 2011 approved by the AICPA Board of Examiners (BOE)
CBT-e will, in effect, be a new Uniform CPA Examination-
an examination transformed in structure, content, and format, and supported by enhanced technology. CBT-e
implementation will be important for CPA candidates, all examination stakeholders, and the profession as a whole.
On January 1, 2011, new Content and Skill Specification Outlines (CSOs/SSOs) for the Uniform CPA Examination
- including the testing of International Financial Reporting Standards (IFRS) - will go into effect. Additionally, a new release of authoritative literature - with codified FASB Accounting Standards - and a new research task format will be introduced on the CPA Examination.
A new tutorial and sample tests will be released in the Fall of 2010 to allow candidates time to become familiar with the new authoritative literature release and research task format. Over the next several months, a series of announcements will be made with more details about each of the scheduled CBT-e changes to be implemented - from the transfer of written communication tasks to the Business Environment and Concepts (BEC) section to the introduction of new Task-Based Simulations (TBS).
Please note that the new CSOs/SSOs are now available - in final form - on the CPA Examination website, www.cpaexam.org. : October 19-23
The AICPA's Personal Financial Planning Section is partnering with the National Association of Estate Planners & Councils for National Estate Planning Week, October 19-23, 2009. As part of the week's activities, both organizations will host a 2-hour Webinar on Monday, October 19 at 2 p.m. ET. CPAs are encouraged to share this opportunity with their clients.
Encourage your clients to participate in a free Webinar on October 19th, 2:00-4:00 p.m. ET hosted by top financial and estate planners from the AICPA PFP Section and the National Association of Estate Planners & Councils. This comprehensive two-hour presentation, led by Sid Kess, CPA, JD, will focus on the basic, multi-disciplinary elements of an estate plan, including elder law planning, financial planning, insurance, investments, retirement planning, wills and common mistakes and consequences of improper planning. Share this link to event and registration information with your clients. Free materials from the September 22nd estate planning web seminar, positioned to the practitioner, are now available. Click here to access.
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For future issues, if you have a topic you'd like to see highlighted, or have an idea for a feature article you'd like to contribute, let us know.
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