Industry Members Voice Views on UAA

Other Society Activities Also Discussed

By Lorrie Lamazor

Participants in the focus group were:

John Joseph Lauchert, Dunkirk Radiator Corporation; Kenneth A. Bailey, Stanley & Fisher; Leon J. Gutmann, The Topps Company; Michael Hand, Sotheby's; Thomas A. Sullivan, National Football League; Lloyd D. Stabiner, Weiler Arnow Management Company; Robin Bentley, Brearley School; Neville Grusd, Merchant Financial Corporation; John J. McEnerney, New York State Banking Department; David W. Henion, Forte Capital LLC; S. Benjamin Murolo, Roslyn National Mortgage Corporation

In his ongoing effort to gain feedback on the Uniform Accountancy Act from diverse segments of the NYSSCPA membership, President George T. Foundotos held a focus group with members in industry.

Much of the discussion centered on the UAA's experience and non-CPA ownership provisions. Reflecting similar views of other Society membership segments, most of the focus group, which represented a diverse section of industries, did not approve of the UAA's proposed one-year experience requirement, which also allows for experience to be gained outside of public accounting.

"There's a lot to be said for a young person getting two years experience at a CPA firm," said Michael Hand, vice president and controller of Sotheby's.

The focus group also expressed concern about non-CPA ownership, although the opposition was not as strong as the views on the experience requirement. This also mirrored the reaction from other member groups.

Most of the industry members felt it was important to proceed with the UAA. Foundotos and NYSSCPA Executive Director Grumet stressed the need for New York to be a leader in order to have more control of the issues and influence the actions of other states.

"I think this is the way we should be going," agreed Thomas Sullivan, vice president of internal audit of the National Football League. "We should be running the ship."

CPE and Other Society Activities Discussed

An offshoot of the discussion on the UAA's CPE provision was industry members' difficulty in finding adequate courses to satisfy CPE requirements. Participants asked for more courses in management, employee benefits, and technology.

Foundotos and Grumet both stressed that the Society wants to provide better services to members in industry, and increase their involvement. One participant expressed concern that from his experience, although industry members represent approximately 40% of the Society, they are the most inactive in committees and other activities. Grumet suggested that the group send their staff to committee meetings, think about possible new committees that would be of interest to industry members, and write articles and suggest authors for The CPA Journal.

Foundotos explained that the shift in policy to center on the member's needs is now the driving force of the leadership. Industry members' input is very meaningful in preparing the Society's UAA initiative. He re-emphasized the commitment to strengthening services for members in industry, and promised to hold more focus groups or similar forums in the future.

Other industry members who have suggestions of ways the Society can better serve this membership segment are urged to contact the membership services department at (212) 719-8374 or (800) 633-6320. *

Participants in the focus group were: