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Cyber-security has become a major risk concern for CPA firms of all sizes across the country. Trusted advisers such as CPAs should be well-informed about preventive measures in order to assist their firms and clients with the pre-breach environment, and to reduce the high costs associated with the post-breach environment.

During the past several months, members of the WSCPA Board of Directors and professional staff have visited the Society’s chapters throughout the state to present professional issues updates. It has been great to renew old friendships, and make new ones, with colleagues that we’ve met and to see the chapters’ work in action. If you haven’t been able to attend an update in your chapter area, here are some highlights.

Start your tax season by downloading this CAMICO Tax Resources Pack. With tax season approaching, CAMICO — the Washington Society of CPAs affinity partner and provider of accountants’ malpractice insurance and risk management services — is making available this Tax Resources Pack with sample tax engagement letters, articles and tips.

With tax season rapidly approaching, many practitioners are likely to encounter clients for the first time with virtual currency activity to report. Bitcoin, the best known virtual currency, peaked in value in early 2014 before all but disappearing from public view shortly thereafter. Nearly two years later, virtual currencies are still out there: an impressive run in the fall of 2015 (possibly due to an alleged Chinese pump and dump scheme) attracted fresh attention and new converts.

According to the Journal of Accountancy (Jan. 4, 2016), because the IRS is extending the due dates for these information returns, the normal provisions for requesting extended due dates for these forms will not apply. The IRS is encouraging employers who cannot meet the extended due dates to file the returns anyway...

This year when you sit down to think about your personal resolutions, do you plan on spending any time setting your professional goals? You may be mentally checking this off if you do this as part of your company’s annual performance appraisal, but put down that imaginary red pen and really think about it...

In a business setting, being able to effectively listen to clients can go a long way in understanding their needs, addressing their situations and providing the best service. In accounting, listening is one of the most important aspects of a client relationship, as you are dealing with financial records and other elements that could affect their livelihood and financial future...

Did you know the Washington CPA Foundation is giving out 40 $5,000 scholarships? If you’ve been so occupied with acing fall quarter accounting classes, researching the CPA exam requirements or rocking your BAP leadership role that this is the first you’re hearing of it, you still have about a month to apply for the WA CPA Scholarship and score your share of $200,000...

Join the WSCPA on January 22 for a reception in honor of Rick Sweeney as he retires. Rick has served the CPA profession in Washington as an educator for decades and as Executive Director of the Washington State Board of Accountancy...

The Internal Revenue Service today issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

From time to time I receive letters and e-mails from members with concerns about issues facing their practices. Many of them are regarding concerns with recent rules or policies and their implementation, but a recent letter I received was directed at a more important matter, the ethical standards that are the bedrock of our profession and the backbone of our privilege as a self- regulated profession.

During this past legislative session, the Legislature passed substitute Senate Bill 5534 which created the Certified Public Accounting Scholarship Program. This bill was unanimously approved in the House (98-0) and in the Senate (46-0, with two Senators not voting). Governor Inslee signed the bill on May 8, 2015 to be effective...

The Internal Revenue Service today issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

This list is for committee year 2015-2016. The state designation is based on the primary mailing address self-selected by each AICPA member.

Are you interested in pursuing the CGMA designation? The WSCPA can now award a limited number of CGMA scholarships for the upcoming fiscal year.

When co-owners of a closely held business wish to end their relationship, they should first try to do so by negotiation and mutual agreement, using a third party neutral, if necessary. If that process is unsuccessful, they can seek a formal judicial resolution through arbitration or litigation.

The CPA profession has worked hard to earn its reputation for trust. The quality of services we provide, plus our commitment to stakeholders in the financial marketplace, set the foundation that enables the public to rely on us. Our CPA brand research shows that the key words the public associates with CPAs include integrity, objectivity, competence and excellence.

The Washington CPA Foundation is pleased to offer over $200,000 in scholarships to accounting students attending an accredited college or university in the state of Washington. Learn more about the scholarship requirements below and apply now. Don't miss out on your chance to win $5,000 and be #oneof40!