Dear Friends,

We are getting closer than ever to obtaining Mobility for DC CPAs. If you've seen my emails for the last two weeks you know that there will be a public hearing on Mobility at DC City Council chambers on Wednesday June 1, 2011. This is your chance to ensure that Mobility is passed in DC. Please mark your calendars and plan to join many of your fellow GWSCPA members in showing your support of Mobility by attending that hearing. There is VISIBLE strength in numbers, and we want to fill that room with CPAs in support of this legislation

Here's what you can do to help:

• Plan to attend the hearing June 1 at 11 AM
• If you haven't already written a letter to Council in support of the legislation, do so NOW! DC residents, click here. Other DC CPAs contact me for guidance.  
• If you want to submit oral or written testimony, contact me or plan to attend the preapartory meeting at our offices this coming Monday morning.

Thank you to all of you that have already told me you'd be there on June 1st and for your continued support of this critical effort!

Sincerely, 

Kari Bedell

Executive Director 

202-464-6001

kbedell@gwscpa.org  

What's new at the GWSCPA?  

The GWSCPA has put out a call for speakers for the 2011 GWSCPA 2nd Annual Technology Conference.  Find all the details

here.  Deadline is May 31, 2011. 

GWSCPA Awards scholarships to local University students

The GWSCPA awarded our annual scholarships to four deserving students at the Awards Ceremony on April 19, 2011 at The National Press Club.  The recipients each received a $4000 scholarship. 

Past Presidents Award: Matthew Casey, George Washington University

Sue Marcum Memorial Award: Christine Curley, Georgetown University

Scholarship Award: Nadia Farooqi, George Washington University 

Scholarship Award: Jeffrey Goldfond, George Washington University 

Pictured left to right:

Abdool Akhran, Hillary Coley, Daniel Black, Stanley Berman, Matthew Casey, Christine Curley, Nadia Farooqi, Jeffrey Goldfond 

Upcoming events  

2nd Annual Night at the Races

Our 2nd Annual Night at the races is on track to be a huge success.  Although this event is SOLD OUT there is still an opportunity to get evolved and support the GWSCPA Scholarship Fund. There are still a few nameless horses up for grabs, and for $50 you can name one and have a 1 in 10 chance in winning $250!  You can also promote your company in front of the 175 participants that evening by sponsoring a Race.  Contact Ashley Worthington.

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Commitee Meetings 

7th Annual Government Contracting Conference filling up fast!  

This one of a kind event has grown to encompass two full days of outstanding presentations on a wide range of topics of interest to today's contracting community. Join us for 14 hours of CPE featuring outstanding speakers from government and industry. View complete program and REGISTER HERE 

And it's not too late to get in front of this audience by placing an Ad in the Program Book. Contact Ashley Worthington for more details before May 27th. aworthington@gwscpa.org  202-464-6001 

GWSCPA 23rd Annual Not For Profit Symposium Dates Announced

AICPA's Private Companies Practice Section Survey

For the past several years, the AICPA's Private Companies Practice Section (PCPS) has asked firms to complete the bi-annual PCPS CPA Firm Top Issues Survey. This important survey will bring to light the critical issues that firms are facing today. The results will enable the PCPS Executive Committee and PCPS Team to focus on tools and resources that help firms meet their challenges.

The survey will be open until May 20, 2011. The average completion time is under 9 minutes.

All respondents will receive the results of the survey. Additional commentary on the results will be available this summer on the PCPS Section of the AICPA website.

George Washington University seeks new professors

The George Washington University's Department of Accountancy is accepting applications for positions as part time instructors.  Specific teaching needs vary from semester to semester.  We offer undergraduate and graduate degrees in accountancy, and therefore, offer a range of daytime and nighttime courses.  Please indicate the courses and times of day you might be interested in teaching.  A listing of courses taught in the Masters program can be found at http://business.gwu.edu/maccy/academic/, and courses taught in the undergraduate program can be found at http://business.gwu.edu/ugrad/academics/fouryear/baccy.cfm.

If interested, please send your resume to Dr. Robin Tarpley (rtarpley@gwu.edu).

In Announcement 2010-81, 2010-45 I.R.B 638, the IRS delayed the renewal period under section 10.6(d) of the regulations governing practice before the IRS, Treasury Department Circular No. 230, 31 CFR part 10 (Circular 230), for enrolled agents whose social security number or tax identification number ends in 4, 5, or 6.  This Announcement reinstates the renewal period for affected enrolled agents beginning June 1, 2011, which is thirty days after the publication of this Announcement. (GWSCPA)

The IRS issued final regulations (TD 9524) further postponing implementation of mandatory 3% withholding on payments from government entities to contractors and providing interim guidance. The final regulations also adopt a $10,000 withholding threshold for any single payment and provide a transition rule under which interest and penalties will not apply for a failure to withhold on payments made before Jan. 1, 2014. (Journal of Accountancy) 

SEC Continues Phase-In of XBRL

Over the past two years, the largest SEC reporting companies have begun submitting financial information in XBRL, the SEC noted. All other public companies using U.S. GAAP, with only a few exceptions, are required to submit XBRL for periods ending on or after June 15, 2011. They are known as  Phase 3 filers. (Accounting Today) 

Will new pressures on Dodd-Frank influence the fiduciary standard?

Republicans on the Senate Banking Committee have asked watchdogs at the Securities and Exchange Commission, the Commodity Futures Trading Commission and other agencies to determine whether they are doing enough to assess how Dodd Frank regulations will affect the economy. (Investment News)   

New PCAOB Chairman Pushes for Audit Overhaul

Public Company Accounting Oversight Board Chairman James Doty plans to unveil a new model for the auditor's report and said he wanted to see disciplinary proceedings for auditing firms to be made public. (Accounting Today)  

Find daily links to news like this on the *NEW* Legislative/Regulatory News section of the GWSCPA website.  Sinly login to access this members only professional resource.

Member News 

Congratulations to Jeremy O'Sullivan of Stokes, P.C. for receiving his CPA license this month.

Fred Leamnson has formed a Registered Advisory Firm,  Leamnson Capital Advisory, LLC.

The GWSCPA would like to welcome the following new members who have joined in the past month:

Anthanasius Awasom

John Bergamasco, USAID, OIG

Brian Davis, Brian Davis CPA, PLLC

Gerald Fils, UBS

Irene Gombola, BAE Systems

Larry Goode, Mitchelle & Titus, LLP

Jong Ho Hwang, US Securities & Exchange Commission

June Jewell, Acumen Advisors

John Klapouchy, Engineering Soluntions & Products, Inc

C. Lynn Merhai, National Trust for Historic Preservation

Michael Meyer, UNISYS

Brenda Richards, Federal Reserve Board of Governors

Konrad Schweitzer, McGladrey & Pullen, LLC

Alan Stewart, Oceus Networks Inc.

Peter Torrieri, Battista Office Products, LLC

Gary Tremblay, Food & Nutrition Service, USDA