Blog

CPAs are at the heart of the financial systems and processes of the organizations they work with. As people in leadership positions, it is important for them to delegate work so that they can dedicate their precious time and resources to higher-order tasks. However, for many, delegation is easier said than done.

The WSCPA Advocacy Team has been hard at work in 2021 so far. Things moved slower and quicker at the same time. Fewer bills were introduced, but they sometimes moved forward in record pace.

The blockchain and cryptoasset landscape continues to accelerate and evolve in ways that just a short time ago would have seemed radical or outlandish. Below are some recent developments and what they might mean for practitioners moving forward.

Sustainability reporting, or social accountability as it is sometimes called, is receiving increased attention. It has been defined as encouraging companies to go beyond their legal responsibilities to invest in and improve their human capital, physical environment, and relations with diverse stakeholders.

As we look to the future, the Foundation continues to adapt to environmental changes in the profession and seeks to continue to lift barriers to entry for the accountants of tomorrow. CPA Evolution is on the horizon and with it continues the debate over how well the accounting curriculum in the United States serves the needs of students and practitioners, and on how prepared students are to take the CPA Exam.

Congratulations to all WSCPA members on just simply making it through a very wild ride. This past year reminds me of the mega coaster rides at a theme park. If you were like me, you walked up to the loading zone all confident and cocky—brushing away nerves and anxieties of those around you. “It’s just a carnival ride for goodness sake! What’s the big deal?”

The global impact of COVID-19 has required accounting practice management teams and their corporate teams around the world to adapt quickly and recognize the importance of a robust disaster plan. But, what kinds of plans need to be created, and how should they be maintained and implemented in the "new normal"? One of the world's premier emergency response planners in small business shares best-practices for accounting firm management teams, corporate executives, and their teams.

We all encounter ethical gray areas in our lives. We face them every single day. Ever wish you had guidelines for dealing with those gray areas in your life?

In early June King County Judge Mary Roberts issued her ruling and sided with the City of Seattle and against the Seattle Metropolitan Chamber of Commerce in a lawsuit trying to overturn the JumpStart payroll tax. This tax was passed in July 2020, and applies to every business in Seattle with a payroll above $7 million and at least one employee in Seattle with an annual compensation of $150,000 or more.

If one had to choose the question most frequently asked by CAMICO policyholders, the likely winner would be, “What should our policy limit be?” This is not an easy question to answer, which may explain why it is asked so often. The answer requires careful consideration of a variety of factors.

The WSCPA Financial Statement Review Committee provides WSCPA members a confidential and complimentary service for financial statement review. Learn more about the process for taking advantage of this service.

Students and CPAs alike often misunderstand Washington's experience verification requirement. In this post, we clear up some misconceptions and give you pointers on how you can satisfy this requirement.

While the legislative session has ended, the Advocacy team’s work will continue. The team works throughout the year on many issues locally and on a national level. We will be continuing to work on advocating for the profession throughout the summer and fall.

On Sunday, the Legislative Session in Olympia ended as legislators wrapped up their work for the year. This was a 105-day session held for the first time entirely online due to the continued COVID-19 restrictions. “This session was the busiest and one of the toughest we at the WSCPA and our Government Affairs Committee have ever seen,” said Kimberly Scott, WSCPA President & CEO.

What are microaggressions? Often quick or seemingly easy to ignore, microaggressions are brief and/or subtle actions, remarks, or visual cues in our everyday interactions that communicate negative ideas or stereotypes about a group of people – usually a socially marginalized group.

For many inbound companies, U.S. tax law can present a significant challenge. The decisions made today about global tax structure, financing of U.S. operations, and intercompany transactions can have far-reaching — and sometimes unintended — tax implications. Read on for strategies to help avoid typical pitfalls.

Our firm is receiving an uptick in requests from lenders for creditworthiness verifications for clients who received loans under the Paycheck Protection Program (“PPP”). How should we respond?

Many of us serve across our communities, families, and workplaces, and we all do it for different reasons, even out of necessity. A colleague of mine once advised me, “Don’t just pick a cause for your résumé or because you feel compelled to give back. Find something you care about, so you can both benefit from the involvement.”

We are more than 12 months into a pandemic that has upended the CPA profession in a way that did not seem fathomable at the beginning of 2020. While this time has been filled with uncertainty, new challenges, and drastic shifts in the tools and ways in which we work, our CPA community continues to show incredible strength and resilience as we adapt to the new normal.

Most employees are inherently honest. They realize that the risk of imperiling their career over a couple of hundred more dollars in their pocket isn’t worth it. However, a small section (about five percent, studies show) of your employees don’t agree. They maybe feel entitled, aggrieved, or simply think they can get away with it.