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At the Public Rules Hearing held July 26, 2019, the Washington State Board of Accountancy approved changes to five rules and adopted one new rule. The purpose of the rule changes was to incorporate aspects of the Uniform Accountancy Act (UAA) CPE model rules and reorganize the CPE requirements between the various CPE rule sections for clarity. Read on for those rule changes.

Throughout 2019, not-for-profit entities (NFPs) are implementing ASU No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities. ASU No. 2016-14 allows flexibility in how and where certain information is presented. Recently, I reviewed the audited financial statements for 20 NFPs which have implemented ASU No. 2016-14 to see the choices they are making.

CPA firms are experiencing an uptick in clients trying to embed indemnification and/or hold-harmless clauses in various agreements with the firms. Many of the clauses are inappropriate for CPA services or are overly broad, even to the point of shifting all liability to the CPA firms. Here are some considerations to weigh before agreeing to any such clauses.

State legislatures are increasingly passing legislation recognizing blockchain technology and paving the way for the implementation of new technologies. Washington is no exception and passed Senate Bill 5638 with bipartisan support during the 2018-19 legislative session.

Recently passed House Bill 1208 bill limits the requirement for a firm license in Washington State to only those firms that perform or offer to perform compilation or attest services.

Reminders of what to do if your firm realizes it will be unable to complete its peer review by the due date assigned and how to request an extension.

Every year, the WSCPA recognizes individuals and businesses for making a difference in their communities, providing outstanding service, dedication, or leadership to advance the accounting profession and the Society. See who received these awards for the 2018-2019 year and find out how to submit a nomination for the 2019-2020 year.

Washington State Treasurer Duane Davidson is a CPA and member of the WSCPA. Members had the opportunity to meet with Treasurer Davidson at WSCPA’s annual Hill Day in January and learn about his path from local office to Treasurer. We asked him to share some of that journey here.

This summer marks the 114th anniversary of the WSCPA and the 6th year on the Board of Directors for Amanda O'Rourke who said, "It is an honor to serve our profession and to help position us for the next 100+ years."

Looking for an excuse to take a break? Why not take a few minutes to try to solve the latest WashingtonCPA crossword puzzle? Here’s the puzzle and the solution for your puzzling pleasure.

This past May, at the conclusion of the AICPA’s Spring Meeting of Council, several hundred CPAs from across the nation met with Members of Congress to ask them to support consolidating existing IRS units into a Practitioner Services Division so that taxpayer issues are more efficiently resolved.

America’s cannabis industry continues to grow: The U.S. legal cannabis market was worth an estimated $10.4 billion in 2018 and is projected to grow to about $26 billion by 2025. This projected growth has more and more CPA firms weighing the business opportunities and risks related to expanding their practice into this emerging industry.

Starting a brewery is a difficult and complicated undertaking that requires compliance with countless federal, state, and local rules and laws. Careful planning can help avoid costly delays or other disadvantages. Open to learn some of the most common pitfalls that breweries encounter.

Due to recent changes in state law, the retail sales tax exemption for sales to qualified nonresidents at the point of sale will be eliminated beginning July 1, 2019.

See the fiscal impact of recently passed legislation to fund higher education (E2SHB 2158) on the service sector.

Hill Day is a great opportunity to connect with fellow CPAs, learn about the issues facing the profession, and build connections with your legislators. Read about Brandon Gebhardt's Hill Day experience.

In this article, WSCPA Seattle/Bellevue Chapter Chair Brittany Malidore reflects on how her membership has helped her develop her leadership skills and on why she is so motivated to be a part of the WSCPA. Read her story here.

Each year, the AICPA Foundation hosts the Accounting Scholars Leadership Workshop to help minority accounting students achieve their dream of earning the CPA designation. This year, Richard Herrerra, accounting student at UW, had the opportunity to attend. This is his experience.

On May 15th, Washington CPA Foundation contributors, trustees, board members, and scholarship reviewers assembled for a reception honoring their contributions supporting future CPAs. About 40 of this year’s scholarship winners from across the state attended to meet the people who helped make their scholarship awards possible.

Many CPAs have shared their frustrations and concerns with CAMICO regarding veiled threats from aggressive brokers and lenders alleging that their clients will not qualify for a loan without receiving a letter from the CPA supporting the client’s loan qualifications. Tempting as it may be to comply with such requests, providing the requested assurances could put CPAs and their licenses at significant risk.