Blog

Finance and IT have had little occasion to collaborate closely in the past. Now they are frequently working side by side. As companies implement new technologies and launch digital initiatives meant to modernize or wholly transform their operations, effective finance and IT collaboration can help to assure that the organization realizes positive outcomes from those investments.

The Legislature is well into its so-called 60-day short session and tackling issues such as potential transportation budget shortfalls, homelessness, consumer data privacy, gun responsibility, healthcare, and behavioral health. All bills must be passed through relevant policy committees by February 7 to “stay alive” and continue through the passage process.

If you are like countless other people around the world, you made New Year’s Resolutions to get healthier and maybe even lose a little weight. You came up with a plan to eat more vegetables, cut back on sugar, and sweat it out several times a week. But did you know that you are already a step ahead just because you are a member of the WSCPA? How can that be?

As CPAs we are known more for our technical skills than our soft skills. I regularly remind myself to apply the LATTE sequence in serving clients and working with our team. Good customer service and the development of soft skills doesn’t happen overnight. It requires a commitment to lifelong learning and going outside of the accountant’s stereotypical comfort zone—regularly.

Would you believe that pinball and accounting have a lot in common? Just ask Allison McClure, CPA and aspiring pinball wizard.

The business model of CPA firms is being transformed by technology. For decades, the CPA firm business model has been “effort determines value.” Now, we need to look for a more subjective value model that allows for different levels of service.

Some people believe that the Tax Cuts and Jobs Act of 2017 (TCJA) was the biggest tax reform since 1986. Big is a subjective term, but I can confidently assert that the TCJA is a more difficult tax reform to implement than the 1986 Tax Reform Act (TRA), says Chris Hesse, CPA.

A technology- and data-focused practice analysis will determine the topics that are most relevant to today’s newly licensed CPAs.

CPA Trendlines conducted a survey in June 2019 entitled “Client Accounting Services: Trends, Issues, and Opportunities.” More than 8,000 accountants responded to the initial survey, of which 90 percent were decision-makers at their firms. Among firms currently offering client accounting services, 88 percent said CAS is “important to the firm’s future,” including 64 percent who “agree strongly.”

We are honored that you have chosen to share your time with your colleagues and your professional association. By volunteering, you help ensure that the CPA profession retains the trusted and venerated status it currently enjoys.

As Chair of the Washington Accountancy Board, I am using my sole executive rule making authority (of which I have none), to issue Board Chair Order 0001 (which you do not have to follow). What is it and what is the code!

Today, December 16, 2019, the Office of the Washington State Auditor released its report on a major fraud investigation involving the Pierce County Housing Authority. The finding, nearly $7 million in misappropriated public funds, is the largest case of its kind on record for a Washington local government.

Some people believe that the Tax Cuts and Jobs Act of 2017 (TCJA) was the biggest tax reform since 1986. Big is a subjective term, but Chris Hesse can confidently assert that the TCJA is a more difficult tax reform to implement than the 1986 Tax Reform Act (TRA).

With 2020 right around the corner, now is the perfect time to start planning your resolutions for the new year. And while we may not be able to provide expert advice on how to eat healthier, create an exercise plan, or get better sleep, what we can do is offer tips on building a more innovative, successful accounting firm. Here are five sure-fire strategies for modernizing your accounting practice in 2020.

NASBA and AICPA propose draft “Core + Discipline” CPA licensure model designed to future-proof the profession. The draft model reflects the rapidly changing skills and competencies required for today’s accounting profession.

The AICPA Peer Review Program is committed to support and enhance audit quality of firms on an ongoing basis, not just during the formal process of peer review. As such, starting in mid-2020 the AICPA Peer Review Board will require annual submission of peer review information from all firms enrolled in the Program.

Your public accounting firm may be asked for the status of their peer review by a state board of accountancy. If you receive such a request and need assistance, you can give your peer review administering entity (AE)—the Washington Society of CPAs—permission to provide certain objective information about your peer review.

From the perspective of data security, today’s world is an extremely dangerous one. It is hard to go a single day without hearing about yet another data breach, a phishing incident, or some other form of security nightmare. Yet, virtually all of us have a simple and highly effective security option available in the form of Multi-Factor Authentication (MFA). We will explore MFA and how and why you should implement it to improve the security of your data.

Baby Boomers are retiring en masse across all industries. And while the majority of accounting firm owners are baby boomers who are near the age of retirement (65 or older), just as many younger professionals are coming of age and seek to run their own businesses. If you are asking, “How can I sell my accounting practice and get top dollar?” please read on.