Iowa CPA - June 2016

Meet ISCPA’s 2016-17 leadershipExecutive committee

Brad Hauge, presidentConsultant, Cedar Rapids

Patti Bell, vice presidentAdvanced solutions director, Principal, Des Moines

Marty Fredericks, treasurerPartner, Kiesling Associates LLP, West Des Moines

Dwayne Vande Krol, secretaryShareholder, Nyemaster Goode PC, Des Moines

Mike Meinders, past presidentManaging partner, Carney Alexander Marold & Co LLP, Waterloo

Board of directorsAbby CrollTax manager, Roth & Company PC, Des Moines

Kevin Den AdelDirector of undergraduate accounting program, The University of Iowa, Iowa City

Rod FosterPartner, RMS US LLP, Des Moines

Heidi KleveFinancial consultant, Wells Fargo Bank Iowa NA, Des Moines

Kurt KonekManaging shareholder, Konek PC, Prairie City

Brian NewtonShareholder, McGowen Hurst Clark & Smith PC, West Des Moines

Denise PiersonVice president, GAAP reporting, Global Atlantic Financial Group, Des Moines

Allison VanOtterlooDirector of internal audit, Pharmacists Mutual Insurance Company, Algona

Chris YuskaPartner, EY, Des Moines

Iowa Society of CPAs...Advancing the professional success of our members

June 2016

CPA

Members of the Iowa Society of CPAs elected the organization’s executive committee and board of

directors for May 1, 2016 - April 30, 2017, at the ISCPA’s Leadership Conference and Annual Meeting on May 6

at the Sheraton West Des Moines. View photos from the event on pages 4-5. Additional photos available on our

Facebook page at www.facebook.com/IowaCPAs.

2016-17 executive committee

Newsletter from the Iowa Society of CPAs, your primary source for profession-related information

2 | Iowa CPA | June 2016 www.iacpa.org

Past president Mike Meinders reflects on key accomplishments

As I reflect on the past year serving as ISCPA presi-dent, I am amazed by how

quickly the year went by. It seems like only yesterday we were at-tending the ISCPA 100th Anniver-sary Celebration that marked the beginning of my term as presi-dent. I am humbled and honored to have served in this position and grateful to my firm for giving me the time to fulfill the responsi-bilities. Thank you to the Society’s board of directors, ISCPA CEO Cindy Adams and the rest of the ISCPA team for their assistance.

Highlights of my termThe highlights of the last year were numerous. I already men-tioned the 100th Anniversary Celebration. With that came the opportunity to meet and spend time with AICPA President and CEO Barry Melancon. I experi-enced getting comfortable in the Society’s new office when they moved in March of last year, and the ISCPA Enrichment Center was introduced as the premier learn-ing and meeting space for mem-bers. Later in 2015, the ISCPA’s

new website was launched as the final piece of the organization’s rebranding. All of these things bring the members, partners and general public a new and brighter image of ISCPA.

AICPA’s councilOne of the duties of the ISCPA president is to serve on the AICPA Council, where I got to see the workings of the AICPA and meet several key members of its management. The spring meet-

ing was held in Washington D.C. and we spent the last afternoon of the meetings calling on the Iowa congressional delegation to request support for several initiatives discussed at the council meetings. At the fall council meet-ing, we were able to hear from the AICPA about the importance of the AICPA–CIMA joint venture. Has everyone who is an AICPA member taken the time to vote? If you need more information or aren’t sure what this is all about, visit www.aicpa.org/horizons.

ISCPA in actionAs president, I got to see the Society in action. So many of our members work tirelessly for causes relating to our profession through the various committees and task forces established by ISCPA. One particularly gratify-ing example of this is the ISCPA Legislation Committee. It was inspiring to see the committee and other ISCPA members spring

into action this legislative session, contacting legislators to support bills like the tax conformity bill or assist our lobbyists to stop legislation like the tax preparer licensure bill. Our membership gets it done!

That brings me to my final thoughts. I am very proud of our accomplishments this year. There are still many issues fac-ing our profession in the future and ISCPA needs to be strong enough to take them on. Like

most parents, I resort to overused expres-sions to inspire my children. One of my favorites is, “You get out of things what you put into them.” That really applies to ISCPA.

Get involvedIf you are content just writing the check to pay your dues, thank you. But if you want to meet some of the brightest minds in your pro-fession, have your voice be heard, feel part of something bigger and connect with great people across the state, get involved on an ISCPA committee or task force, attend the ISCPA’s conferences, classes and events, and contribute to the PAC (political action com-mittee) and Iowa CPA Education Foundation. Together, we can move mountains and I guarantee you won’t regret it.

Mike Meinders is a CPA, CGMA and managing partner at Carney Alexan-der Marold & Co LLP in Waterloo. He has been an ISCPA member since 1975.

Issue No. 2016-06

Published eleven times per year by the Iowa Society of Certified Public Accountants (ISCPA). Send address changes, advertising in-quiries and all correspondence to:

1415 28th St., Ste. 450West Des Moines, IA 50266-1419

Email: [email protected]: www.iacpa.orgor, contact the ISCPA office:515-223-8161/800-659-6375

”“You get out of things what you put into them. That really

applies to ISCPA.

http://www.iacpa.org

http://www.iacpa.org

www.iacpa.org Iowa CPA | June 2016 | 3

Meet your new ISCPA president Brad Hauge

Brad Hauge is a CPA and consultant from Cedar Rap-ids and assumed his role as

2016-17 ISCPA president on May 6.

Where did you grow up?In Story City until we moved to Cedar Rapids. My grandpa ran the DX gas station in Story City and it was a treat to spend time there “helping him” pump gas. My dad passed away when I was 11 and my mom had her hands full rais-ing me, my sister and two broth-ers. To my mom’s credit, we all turned out surprisingly well.

Tell us about your first jobMoney was tight and I had expen-sive tastes in bicycles, so I started working young, baling hay, de-tasseling and delivering The Des Moines Register. My first real job was at Hardees until I was a senior in high school and went to work at ABC Accounting Services.

What led you to accounting?Helping my grandma with the DX station books, using her old Burroughs calculator, and my dad working as a loan officer at Collins Credit Union all influenced me. A final straw attracting me to public accounting was hearing a career day presentation 40 years ago

by a McGladrey partner. My mind raced when I heard how much their average partner made.

How has your career pro-gressed?After graduation, my boss at ABC Accounting Services steered me to a firm formerly known as Dee Gosling. We merged with Clifton Gunderson and ultimately became CliftonLarsonAllen. I retired as a partner in 2012. In the beginning, I was a jack of all trades but ulti-mately focused on audit. My past experience with nonprofits has led me to volunteer work and I am the treasurer of Arc of East Central Iowa and the Cedar Rapids Muse-um of Art, and serve on the United Way Finance Committee.

How would you describe the CPA’s role in business today?No one is an island and I feel busi-ness owners look to their CPA as an independent and trusted mem-ber of their management team. The CPA has the business knowl-edge and experience to help busi-ness owners meet their goals and help keep them out of trouble.

Who inspired you to take a lead-ership role with ISCPA?Gary Carlson, a partner in the

firm and former ISCPA president, asked me to serve on the Peer Review Committee. He truly be-lieved in getting involved and giv-ing back. With the support of my mentor Brian Carr, I served for a number of years. It was hard work, but I never considered leaving the committee as I learned so much, got to know some talented CPAs and found the experience so re-warding. ISCPA staff Judy Chaplin jokingly told us that death was the only acceptable reason for leaving the committee.

What would you like to accom-plish during your term?Our state society staff do a re-markable and sometimes thank-less job advocating for the Iowa CPA. It has been an eye opener for me to see all the things they do to make our jobs and lives easier. This is no more evident than the way they represent us at the state capitol, fighting against legislative changes that would negatively impact our profes-sion and fighting for change that makes sense for the CPA. I feel my role will be to do what I can to support their efforts.

2016-17 ISCPA President Brad HaugeHometown: Story City, Iowa; moved to Cedar Rapids when I was seven or eight

Significant other: Longtime girlfriend Sherry and our cats Lena, Fiona and Kitty

Spare time interests: Motorcycling, including taking regular trips to the mountains with friends. We don’t like riding in the rain so we trailer them when going on longer trips. I’m also a car enthusiast and enjoy going to car events. Whether it’s cars or motorcycles, I enjoy the high performance ones. My spare time also includes exercising, rollerblading and volunteer work.

Education: BBA accounting, Iowa State University

ISCPA volunteer history:• Board of directors 2010-current• Board vice president 2015-16• Governmental Relations

Committee 1988-89

• Legislation Committee 2015-17; board liaison 2016-17

• Practice Review Committee board liaison 2014-15

• Peer Review Committee 1994-2015; board liaison 2010-2015

• Public & Community Relations Committee board liaison 2015-16


Iowa CPAs honored with leadership awards

Congratulations to the Iowa CPAs and ISCPA members who were honored with

awards at the 2016 Leadership Conference and Annual Meeting. Award details and additional information about the recipients is available at www.iacpa.org/news/articles.

The Distinguished Service Award was presented to Julie Meyer Kroll, Urbandale.

The Public Service Award was presented to Henry B. Tippie, Austin, Texas.

The Outstanding CPA in Business and Industry Award was presented to Angela R.

Sanders, senior vice president and controller, Principal, Des Moines.

Rising Star Awards were present-ed to Amanda L. Lane, manager, TD&T CPAs and Advisors PC,

Cedar Rapids; and Stefanie E. Lovin, senior manager at Brooks Lodden PC, West Des Moines.

The ISCPA Outstanding Committee Chair Award was presented to David A. Farnsworth, shareholder with McGowen Hurst Clark & Smith PC, West Des Moines.

Do you know an outstanding Iowa CPA? Nominate them at www.iacpa.org/membership/cpa-awards for next year’s event.

Photo from l to r: ISCPA 2015-16 President Mike Meinders, Stef Lovin, Julie Meyer Kroll, Henry Tippie, Angie Sanders, Dave Farnsworth, Amanda Lane and ISCPA CEO Cindy

Adams.

Foundation scholarships awarded to Iowa students

Two $2,500 scholarship awards from the Iowa CPA Education Foundation were presented at the 2016 Leadership Conference and Annual Meeting.

Photo l to r: ISCPA President Mike Meinders, scholarship recipient and UNI student Dakota

Hageman, and ISCPA CEO Cindy Adams.

Photo l to r: ISCPA President Mike Meinders, scholarship recipient and Loras College student Jenna

Walleser, and ISCPA CEO Cindy Adams

Iowan is top scorer

G rant Seuferer has been named a 2015 Elijah Watts Sells award winner. Grant

is a tax consultant at Deloitte Tax LLP in Des Moines, and obtained a cumulative average score above 95.50 across all four sections of the CPA exam on his first at-tempt. A total of 93,742 individu-als sat for the exam across the nation in 2015, with Grant being one of only 75 candidates to meet the award criteria.

We’re offering 167 webinarsbefore June 30 See the full list at:

www.iacpa.org/onlinecpe


Leadership Conference and Annual Meeting highlights

Thank you to the following companies for sponsoring or exhibiting at the Leadership Conference and Annual Meeting.

GOLD Sponsor

Chawn Honkomp and Ryan Swalwell

registered representatives

Exhibitors


CPA viewpoint: The new CPA exam

Last month’s issue of Iowa CPA covered some of the changes announced for

the new CPA exam debuting in April 2017. Thank you to these Iowa CPAs for weighing in on the changes and providing insight into how they see them impact-ing upcoming CPAs, the profes-sion and the overall value propo-sition of the CPA designation.

Kevin Den Adel Director of undergraduate accounting program, The University of Iowa, Iowa City

The CPA exam’s increased em-phasis on critical analysis and evaluation skills is an appropri-ate response to the expectations faced by entry-level accounting professionals. CPAs who recruit accounting students tell us that new hires are being tasked with more complex issues at an earlier date, so the CPA exam is adapting accordingly. The key issue for the profession is to continue promot-ing the rewarding and diverse career opportunities available to CPAs.

Carrie KruseEconomic development coordinatorCity of Des Moines, Des Moines

The revised format of the exam is encouraging in that it will be more heavily focused on the practical application of general accounting knowledge, critical thinking and problem solving skills and less focused on memorization. Provid-ing CPA exam candidates with more experience and confidence in these skillsets before they enter the workforce will only strengthen

our profession as a whole. There is some fear that extending the exam to 16 hours could potentially have a negative impact on the CPA workforce both nationally and here in Iowa. I am hopeful that in having consistency with each of the four sections of the exam now being four hours long, that this will alleviate confusion and pro-vide adequate time to get through each section of the exam.

Kurt LettowFinancial controllerPrincipal, Des Moines

The new CPA exam promises to be more challenging for students sitting for the exam as well as educators preparing stu-dents for the exam. Nevertheless, greater emphasis on higher order skills and task based simulations is warranted, given the greater com-plexity of businesses today with respect to products, product de-livery systems and technology. In addition, local, state, national and international regulatory burdens are growing, exposing companies, their employees and their audi-tors to greater risk. CPAs need to be adequately prepared for these challenges, whether employed in public accounting or in industry. The bar may have been raised with respect to the demand on new CPAs, but so has the value propo-sition of the CPA designation.

Lee NicholasAssistant professor of accounting (emeritus)College of Business Administration

University of Northern Iowa, Cedar Falls

As one of the longtime members of the Society and the profession,

it is easy to remember the CPA exam as a hurdle to be jumped to get into the profession. It is also easy to think if it was good enough for me, why change it. But the examiners wisely rec-ognize that the skills needed in today’s accounting profession are changing and so the entry level exam must also change. The big change will be the reduction of multiple choice questions and the increase in task-based simula-tions that are designed to mea-sure those higher-order analysis and evaluation skills. The exam will also be two hours longer and that should not be an excessive burden. The new exam should likely be a benefit to the student as well as to the profession.

Jim SmithShareholderMcGowen Hurst Clark & Smith PC, Winterset

The world con-tinues to become more complex with rapid changes in the econo-my, regulations and technology. The accounting profession must be prepared to keep pace with these changes in order to main-tain our status as trusted advi-sors. The CPA exam needs to be updated regularly to remain fresh and relevant. Industry and CPA firms alike need to do all they can to encourage students and oth-ers to take the exam and provide the resources, time and support they need to do it.

Brian SweeneyBusiness managerIowa Catholic Radio, Des Moines

As we evaluate the changes to

the Uniform CPA Exam, I think it is important to remember that

Continued on page 7


2016-17 committee and task force chairsBusiness and Industry Task ForceEmily Heeren, DuPont Pioneer, JohnstonCareer AwarenessDerick Tallman, Access Systems, Waukee

Diversity and Inclusion Task ForceAmina Nuhanovic, EcoEngineers LLC, Des Moines

Family & Workplace IssuesStef Lovin, Brooks Lodden PC, West Des Moines

Financial InstitutionsKelli Schmidt, KPMG LLP, Des Moines

Financial LiteracyJulie Thelen, Principal, Des Moines

Governmental Auditing & AccountingCarrie Kruse, City of Des Moines, Des Moines

Insurance IndustryKara Wilson, PricewaterhouseCoopers LLP, Des Moines

Iowa CPA Education Foundation AdvisoryMike Meinders, Carney Alexander Marold & Co LLP, Waterloo

Iowa CPAs Month of ServiceBeth Brockway, Robert Half International Inc, Des Moines

LEAP (Leaders Emerging in the Accounting Profession) Ashley Sly, McGowen Hurst Clark & Smith PC, West Des MoinesLegislationPeg Trevino, Trevino Associates PC, Fort Dodge

Nonprofit OrganizationsJoe Ryan, TD&T CPAs and Advisors PC, Oskaloosa

TaxationTodd Thorson, Kiesling Associates LLP, West Des Moines

Thank you to these members for their leadership! If you would like to join an ISCPA committee or task force or learn more about volunteer opportunities, visit www.iacpa.org/membership/committees.

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we have seen other significant changes in the not too distant past. There was some skepticism about migrating the exam from a semi-annual, paper based exam to a computer based exam with greater availability. Similarly, there were concerns about implemen-tation of the 150 hour require-ment. Both of these changes were difficult at first and did lead to a smaller number of candidates in the short term.

In the longer term, these changes have led to greater rigor required for a candidate to be successful and an overall strengthening of the CPA designation.

The inclusion of task based simu-lations that test analysis and criti-cal thinking skills is long overdue.

One of my old bosses was fond of saying, “A consultant must be understood and believed in order to deliver value.” Our value of a CPA is not simply a mastery of accounting procedures and reci-tation of facts. Our value is being able to tell the story behind the numbers in a manner that the non-accountant can understand and act upon. The new exam will help the candidate be bet-ter prepared to provide value to the users of financial informa-tion. There may be some short term issues with passing rates and a smaller number of can-didates taking the exam, but in the longer term this is a big step forward for the profession.

Members save nearly 25 percent on admission to Adventureland as well as $10 off season passes. Plus, orders come with a $30 coupon

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Job: Owner/sole proprietor, S Stutzel CPA LLC, Tipton

ISCPA member since: 2002

Alma mater: Coe College, Cedar Rapids

Hometown: Tipton, Iowa

First job: Babysitting for my siblings (it didn’t pay well)

Professional/community activities: ISCPA 2015 Career Awareness Conference panelist, Career Awareness Committee (2014-current), Nonprofit Organizations Committee (2014-15), Continuing Professional Education Committee (2009-10), Iowa Women’s Foundation Board of Directors, Tipton School Foundation Board Treasurer

Favorite thing about my job: Connecting with people. I joke that auditors don’t have a lot of friends because no one wants to see them com-ing. But in reality, you really become a trusted expert in your field and people look to you for help. It is fulfilling to see someone empowered when you finally explain something in a way that they understand

I am passionate about: God and my family

Best advice I ever received: Every time you say yes to something you are saying no to some-thing else. I heard that at a conference once and it really moved me to not make my decisions lightly. It is so true. The time we have is finite so to increase one thing you must decrease another. It all comes down to prioritizing

Best vacation: Hiking with my family in Estes Park, Colorado, or racing my son down the alpine slide in Winter Park, Colorado

What I wanted to be as a kid when I grew up: I’ve wanted to be an accountant since I was about nine because I liked math and was told accountants make a lot of money

Favorite quote: “If you don’t have time to do it right, when will you have time to do it over?” - John Wooden

member spotlightSue Stutzel

Tipton

Where has your career path as a CPA taken you? I started as an intern at McGladrey in Iowa City in January 2000 and was hired as full time audit staff after tax sea-son working primarily with nonprofit organizations and small businesses. After my fourth busy season I went to work for a small construction client where I learned that I loved accounting, but not office administration. I then moved into a senior accounting role at HNI Corporation in Muscatine. Though I loved the company and people I worked with, I always missed public accounting. An op-portunity came up in my hometown to head up the A&A department for a regional public accounting firm. I loved being back in public accounting, but after a lot of soul searching I decided to start my own practice. It was scary, but I have not regretted it for one second. I am able to fo-cus on accounting, auditing and consulting for nonprofit organizations and small businesses, which I love because they are as passionate about what they do as I am about helping them account for it!

What has helped you get to where you are today? I have learned that faith in God is all I need. When you set your priorities with God first, everything else falls into place. My favorite Bible verse came to me while studying for the CPA exam, “You can do all things through Christ who strengthens you.” Philippians 4:13.

What are you most proud of about being a CPA? I love being a CPA mostly because of all of the directions it can take you. There are so many possibilities.

What message do you have for students about a career as a CPA? Do it! No matter what you want to do, the CPA designation will help you get there. I have found that the designation doesn’t mean you know everything, but you probably know how and where to find out.

Has being a member of ISCPA helped you? The ISCPA has been instrumental in furthering my career through continuing education, networking and general informa-tion about what is impacting our profession.

What’s important to you outside of work? I’ve had great mentors along my personal and career path and enjoy giving back in the same way. I believe every career opportunity has been in part to meet someone new who has influenced my life.

Sue and her husband Troy reside in Tipton with son Ty (11) and daughter Sydney (8).


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DOL issues final rule raising OT pay threshold

The Department of Labor’s (DOL) final rule on over-time pay will raise the sal-

ary threshold indicating eligibility from $455/week to $913 ($47,476 per year), ensuring protections to 4.2 million workers. In addition, it:

• Automatically updates the salary threshold every three years, based on wage growth over time, increasing predict-ability.

• Strengthens overtime pro-tections for salaried workers already entitled to overtime.

• Provides greater clarity for workers and employers.

The final rule will become effective Dec. 1, 2016, giving employers more than six months to prepare. The final rule does not make any changes to the duties test for executive, administrative and professional employees.

To learn more, visit www.dol.gov/featured/overtime.

A DOL webcast (originally avail-able in February) on changes to

rules for salaried exempt em-ployees may be viewed by mem-bers for free at www.iacpa.org/

resources/member-learning. (No CPE credit.)

Make sure you find out when we offer FREE learning events in the future. Check that your email address is up to date in your member

profile under the “My Membership” section at www.iacpa.org.

Vote yes to shape the future

If you are an AICPA member, access your ballot and vote by June 16 for the AICPA-CIMA

proposal to integrate operations through a new association repre-senting the entire profession. AIC-PA members were sent their con-fidential ballots via email the week of April 18 from third party vote administrator “AICPA Independent Tabulator.” If you can’t find it in your inbox, check your spam or clutter folder. You can also have the ballot re-sent by visiting www.directvote.net/aicpa and clicking “email me my login information” at the bottom of the screen. Vote yes in the AICPA membership ballot taking place through June 16. For more information, visit www.aicpa.org/horizons.


In remembranceISCPA offers condolences to the families of:

Richard W. Boss, Nevada, MO, CPA certificate No. O600. Richard was a member since 1962.Thomas E. Larson, Urbandale, CPA certificate No. 02875. Tom was a member since 1982.

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What you should know:

New rule on naming engagement partners

Earlier this month, the Securities and Exchange Commission (SEC) adopted proposed new rules and related amendments to auditing standards. Previously, the Public Company Accounting Oversight

Board (PCAOB) adopted and proposed the rules for SEC approval to provide investors with more information about who participates in pub-lic company audits.

The PCAOB plans to release staff guidance and other tools for firms to use as they implement the new rules.

What Iowa CPAs need to know The PCAOB adopted final rules that would require audit firms to file a new form with the PCAOB and disclose the name of the audit partner responsible for issuing the firm’s audit report and the name, location and extent of participation of other accounting firms whose participation exceeded five percent of the total audit hours. Participation by other accounting firms

that individually don’t meet the five percent threshold would be ag-gregated and reported as other firms. The form would be available to the public on the PCAOB website.

The form would be required for each issuer audit within 35 days after the audit report is issued, while the form for audits of new issuers would be due 10 days after the report is first included in an initial public offering document filed with the SEC. These new rules would be phased in. Audit firms would disclose the name of the engagement partner for auditors’ reports issued on or after Jan. 31, 2017, which would cover 2016 financial statements for most calendar year issuers. Audit firms would identify and make disclosures about other account-ing firms that participated in the audit for auditors’ reports issued on or after June 30, 2017. The new reporting requirements would not ap-ply to audits of brokers and dealers. I believe audit firms should begin the process now of gathering information that will be required in the new form.

Chris Yuska is a CPA and partner, assurance services at EY in Des Moines. He has been an ISCPA member since 2006.

Members in the newsBrian M. Unsen, Eide Bailly LLP, Dubuque, has been promoted to partner.

New student affiliatesBuena Vista UniversityMeghan Harmening

Iowa State University Jordan Kulow

Kaplan University Mackenzie Clark

University of Northern IowaClinton Au Jong

Career Center

www.iacpa.org/careers


The following members joined the Society in April and May. Please take time to welcome them and invite them to participate in events and programs with you.

New membersDennis M BockenstedtCity of Iowa CityIowa City, IA

Leah D ConradGross & CompanyDunlap, IA

David C DeedsUniversity of Northern

IowaCedar Falls, IA

Johnna M HaarsmaRSM US LLPDes Moines, IA

Jason P HefflefingerPella CorporationPella, IA

Christine E HornbucklePrincipalDes Moines, IA

Krista A KrogmanAthene USAWest Des Moines, IA

Morgan D OttenbacherWellmark IncDes Moines, IA

Curtis J RobbinsRSM US LLPDes Moines, IA

Kelly M RyanLWBJ LLPWest Des Moines, IA

Nicole P SteffensenBrinkman & Reed CPAsEstherville, IA

Ryan J Van KootenKonek PCPrairie City, IA

Kimberly A VavraBH Management

Services LLCDes Moines, IA

Affiliates:Marcus BentonMcGowen Hurst Clark

and Smith PCWest Des Moines, IA

Russell ForrestDe Noble Austin &

Company PCRock Rapids, IA

Micah GitlinKay Dee Feed LLCSioux City, IA

Aarika KoppenhaverKoppenhaver &

Associates PCMount Vernon, IA

Julie E MeyerBrian D Bast PCHiawatha, IA

Samuel P MyersKPMG LLPDes Moines, IA

Nicholas J ReeveRSM US LLPDes Moines, IA

Nicole M SchneeklothDe Noble Austin &

Company PCRock Rapids, IA

IPE 10316150 VILLAGE VIEW DRIVE • SUITE 113

WEST DES MOINES, IA 50266515.279.1111 • 888.226.0400

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Welcome!

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Month of Service Volunteer

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IOWA PRACTICES FOR SALE: Gross revenues shown. N Central IA $532K; NE Iowa $337K; N Central IA $306K; near Des Moines $195K; NW IA $603K. For practice details call 1-800-397-0249 or visit us at www.AccountingPracticeSales.com to inquire about available opportunities and register for free email updates.

CAREER OPPORTUNITY- INTERNAL AUDIT MANAGER–Our Ames-based client has an exciting opportunity for an audit professional to plan and conduct operational and financial audits of facilities throughout Iowa. With executive management, you will design new controls and assess corporate risks. BS/BA Account-ing or Finance, 6+ years of public accounting or internal auditing required. CPA preferred. For confidential inquiry/consideration, contact Miles Morrow, CPC, Iowa Career Connection: 515-282-5823 or [email protected]. We are retained by our clients who pay all fees.

FINANCE LEADER (CFO)–Are you a Dynamic Strategic Finan-cial Leader with manufacturing experience? LDJ Manufacturing is looking for you to join our team as our Finance Leader. Find out more details at http://www.ldj-products.com/index.php/2011-07-29-20-15-22/50-finance-lead-er or submit resumes to Luke at [email protected].

TAX & AUDIT CPA–Shull, Schrum, McClaflin & Co, Inc seeks a CPA with 2-4 years of tax or audit experience. We are an established full-service CPA firm with offices in two central Iowa towns. We of-fer a competitive salary and excel-lent benefits, as well as advance-ment potential. Candidates must be self-starter and able to work with a wide variety of clients, corporate and individual. Email resume to [email protected].

MANAGER OF ACCOUNTING & AUDITING STANDARDS–Selden Fox Ltd, a mid-size public ac-counting firm located in Oak Brook serving privately held companies in a broad range of industries as well as government and nonprofit entities, has an op-portunity available for an experi-enced professional to undertake quality control responsibilities. The individual will be responsible for the review of all accounting and auditing reports and letters to be issued; the technical review of all general files relating to reports issued; the research of account-ing, auditing and independence issues as needed; and the main-tenance and enhancement of the firm’s quality control document as it relates to compliance with AICPA standards and internation-al standards. Coordination of the peer review process, as well as the development and instruction of relevant continuing education courses are also key responsi-bilities. Qualified candidates will possess CPA certification with at least 5 years of experience in pub-lic accounting, as well as current technical knowledge of GAAP, GAAS, SSARS, OMB A-133, ethics and quality control standards. This individual should also be competent in the instruction and development of staff, possess strong oral and verbal commu-nication skills, solid organization abilities and have exposure to a diverse array of industries. Previ-ous experience in a quality control function is a plus. Selden Fox pro-motes an entrepreneurial environ-ment that allows individuals to de-velop to their potential. Qualified candidates should send a cover letter and resume, including salary requirements, to: Selden Fox Ltd, Human Resources-QC, 619 Enter-prise Drive, Oak Brook, IL 60523. E-mail: [email protected]. An equal opportunity employer.

Continued on page 13


FINANCIAL REPORTING AC-COUNTING ANALYST II–Do you have expertise in account-ing standards, SEC rules and regulations, financial reporting and coordinating external audits? FHLB Des Moines seeks a Finan-cial Reporting Accounting Ana-lyst II to produce timely, accurate and reliable financial information and to assist with preparation of internal and external financial reporting and coordination of ex-ternal audits and special projects. Responsibilities: Coordinates and prepares the Bank’s quarterly and annual SEC filings. Coordinates and prepares the Federal Hous-ing Finance Agency and Office of Finance quarterly and annual financial information. Prepares/re-views source documents for daily accounting activities and sup-porting work papers. Prepares/reviews internal financial reporting for the Bank’s management teams and Board of Directors. Reviews external financial reporting for rating agencies such as Moody’s Investor Service Inc and Standard & Poor’s Rating Services. Coor-dinates the external audit includ-ing preparation of audit support and coordination of audit sup-port from different departments. Manages departmental regula-tory issues and internal controls. Qualifications: Bachelor’s degree in Accounting. CPA designation preferred. Public accounting expe-rience with emphasis in financial statement audits preferred. Re-quires 3-5 years’ of related experi-ence; exposure/experience with accounting standards, SEC rules and regulations, and financial re-porting including XBRL preferred. Strong computer skills including Excel, Word and Access. Demon-strated oral & written communica-tion skills focusing on attention to detail. Visit www.fhlbdm.com/careers, select the job and click on “apply for this position” button at the bottom of the description to create a profile and upload your resume.

Small Firm Forum

If you’re an individual practi-tioner or small firm owner, you won’t want to miss your oppor-tunity to attend this new ISCPA event – FREE for members.

Many issues facing today’s accounting firms are similar regardless of firm size. However, there are challenges and expe-riences unique to a small firm. Gather with fellow sole practi-tioners and small firm partners to learn about the pressing issues affecting you and your firm, and benefit from collective knowledge and collaborative discussion.

Monday, June 27 ISCPA Enrichment Center

10 a.m.-noon – speakerNoon-2 p.m. – lunch and discussion

FREE for members! Nonmembers $79

2 hours CPE

Featured speaker Carl Peterson, vice president, small firms, American Institute of CPAs

✔✔ SSARS 21✔✔ Peer review✔✔ Fee pressure✔✔ Employee recruitment and retention

✔✔ Tax season challenges✔✔ Workload compression✔✔ Technology✔✔ And more!

Attend in person or via live webcast. Webcast only from 10 a.m.-noon

Space is limited!Reserve your seat at

www.iacpa.org/small-firm-forum

NEW!

Sponsored by:

Continued from page 12 Accountants rank top 5 challenges in practice for 2016By Randy Johnston, K2 Enterprises and Network Management Group Inc.

The 3rd Annual Accounting Firm Operations and Tech-nology Survey (AFOT Sur-

vey) revealed the top challenges faced by your accounting and tax practice peers, including:

• Recruiting and retaining staff • Workflow and efficiency • Change• Archiving and retention of

email• Attracting new clients

You won’t want to miss this great article from Randy, who helps

both public practice and industry organizations think strategically and choose technologies that help them leverage their business assets to meet strategic goals. Read on!

Randy Johnston is executive vice president and a shareholder of K2.

Continue reading this article at www.iacpa.org/topfivechallenges.


CPE spotlightJune business and industryJune 27 - The Strategic CFO: Big Picture Skills

June 28 - 4 Most Overlooked Business Risks: Preparing for the Future

June 29 - Only Financial Officer: Skills for Smaller Company Financial Managers

Nonprofits–Don’t Miss these July CoursesJuly 20 - Form 990: Mastering its Unique Characteristics

July 21 - Planning for Unrelated Business Income Tax (In-Person or Webcast-4 hours)

Internal AuditorsJoin nationally recognized speaker and published author Lynn Foun-

tain on June 23. Lynn will present The Internal Audit Function, a program that will enhance your skills regarding the role and direc-tives of the internal audit function.

2016 AHI staff training programsAug. 15-17 - Beginning In-ChargeSept. 7-9 - Semi-SeniorSept. 12-14 - Basic

CPE spotlightISCPA offers over 150 seminars and educational opportunities each year.

View or search for ISCPA courses at www.iacpa.org/cpe/events.

June

1 FASB’s “BIG 3”–Revenue Recognition, Leases and Financial Instruments (FSBT-SF)

Sioux Falls

2 Advanced Concepts in SSARS 21 and Nonattest Services: Are You Certain You Are in Compliance? (SS21-SF)

Sioux Falls

6 Fraud Update: Detecting and Preventing the Top Ten Fraud Schemes (TTFS) West Des Moines

7 Governmental Accounting and Auditing Update (GAU) West Des Moines

8 Church and Minister Taxation (CMT-IC) Coralville

13-14 Technology Conference (TC) West Des Moines

16 LEAP Lunch with Leaders featuring Mike Draper: Bring on the Buzz–Les-sons from a T-Shirt Shop (LWLMD)

Des Moines

20 Upcoming Peer Review: Is Your Firm Ready? (SNPR-SF) Sioux Falls

21 LEAP Lunch with Leaders featuring Dawn Jindrich (LWLDJ) Cedar Rapids

22 Insurance Industry Conference (IIC) Altoona

23 The Internal Audit Function (IAF) West Des Moines

24 Corporate Ethics (CE) West Des Moines

27 The Strategic CFO: Big Picture Skills (SCFO-IC) Coralville

27 Small Firm Forum (SMALFIRM) West Des Moines

28 4 Most Overlooked Business Risks: Preparing for the Future (MOBR-DM) West Des Moines

29 Only Financial Officer: Skills for Smaller Company Financial Managers (OFO) West Des Moines

July

12 Practice Issues in Preparation, Compilation and Review Engagements (CRA4-SF)

Sioux Falls

12 Annual Update for Governments and Not-for-Profits (GNAU4-SF) Sioux Falls

13 Studies on Single Audit and Yellow Book Deficiencies (SAYB-SF) Sioux Falls

20 Form 990: Mastering its Unique Characteristics (EO-F990) West Des Moines

21 Planning for Unrelated Business Income Tax (UBIT4) West Des Moines

To view all upcoming events and register, visit www.iacpa.org/cpe/events

webcast also available


…Need-to-know news and advice for leaders emerging in the accounting profession

LEAP forwardISCPA’s LEAP Committee provides education, networking and develop-ment programs across the state for members 40 and under.

Visit www.iacpa.org/membership/young-professionals for detailed information about these events and register today.

Lunch with LeadersJune 16 – Des MoinesMike Draper, owner, Raygun LLC, Des Moines

June 21 – Cedar RapidsDawn Jindrich, Linn County budget director, Cedar Rapids

Aug. 30 – Cedar RapidsChris Honkomp, CEO, BerganKDV, Cedar Rapids

Oct. 13 – Des MoinesMary Sellers, president, United Way of Central Iowa, Des Moines

Oct. 20 – DubuqueTim Christen, AICPA Board of Directors Chair, chairman and CEO of Baker Tilly Virchow Krause LLP, Chicago

Aug. 11-12 – 2016 Emerging Leaders ConferenceREGISTRATION OPEN – www.iacpa.org/ELC

FREE for all members!

Join your fellow CPAs and ISCPA CEO Cindy Adams for an informative and casual gather-ing to discuss current issues, hot topics and anything else top of mind. Refreshments provided and it’s free for members to attend.

More dates and locations around the state to be sched-uled. Would you like ISCPA to host a Common Grounds event at your firm or company? Con-tact us at [email protected] and we’ll do the rest.

June 2-Council BluffsJune 9-West Des MoinesAug. 3-Sioux CityAug. 4-SpencerSept. 15-West Des MoinesNov. 10-Council BluffsNov. 17-West Des Moines

Visit www.iacpa.org/common-grounds for details

and to sign up.

The insurance industry is going through enormous change. From the regulatory environment and the need to comply with new and existing standards, to the evolving demographics and needs of the customer, to technology advancements and changes, the 2016 ISCPA Insurance Industry Conference will help you navigate these changes and stay on top of today’s issues affecting you and your performance.

• Global economic outlook

• Principals based reserving

• Global Insurance Accelerator

• Regulatory update

• Third party risk management

• The seven deadly sins

• Investments and related risks

• GAAP, tax and NAIC updates

• Risk tolerance in ERP

• Autonomous vehicles

• Executive panel

• Bonus ethics session

Session descriptions and registration available at: www.iacpa.org/IIC

Live webcast available!

Insurance Industry ConferenceJune 22, 2016 | The Meadows Events Center , Altoona

Presorted StandardU.S. Postage

PAIDDes Moines, IowaPermit No. 34331415 28th Street, Suite 450

West Des Moines, IA 50266-1419

Grow your nest egg,

not your tax bill.

Qualified intermediary

services for all types of

Section 1031 exchanges

800-805-1031 • 515-224-5259

4800 Mills Civic Pkwy Suite 205

West Des Moines IA 50265

iowaequityexchange.com

Ken Tharp

INTEGRITY. PRECISION. SECURITY.

2½ x 4¾

Technology ConferenceJune 13-14, 2016 | Hilton Garden Inn, West Des Moines

Being tech savvy is a necessity–not an option. To thrive in today’s wired world you don’t have to be a power user, programmer or developer, but you should know how today’s accounting tech tools can benefit you, your clients and your business. Join ISCPA and the experts from K2 Enterprises for the 2016 Technology Conference and learn the must know information to conduct business more effectively.

• Tech Update for 2016

• Excel topics

• CPA firm technology solutions

• Hardware/software topics

• Adobe Acrobat PDFs

• Windows 10 tips and tricks

• Avoiding identity theft

• Best technologies for small business

• Evernote and OneNote

• Fraud in the cloud

• Power BI

• QuickBooks online

• Pivot Table BONUS session

• And much more!

Refer a new attendee to this conference and you BOTH get a $50 gift card when you attend. No limit on number of referrals. New attendee must not have attended

in the prior three years. Both attendees must sign in at the registration table.

Session descriptions and registration available at: www.iacpa.org/TC

Technology ConferenceJune 13-14, 2016 | Hilton Garden Inn, West Des Moines

Iowa CPA - June 2016

Documents

Transcript of Iowa CPA - June 2016