Talking Technology with Peter Frank

By Tom Hall

The Foundation for Accounting Education's Emerging Technologies Conference will take place December 7-8 at the New York Hilton Hotel and Towers. To learn more about the program, The Trusted Professional spoke with Peter H. Frank, conference co-chair, a member and past chair of the NYSSCPA's Emerging Technologies Committee.

"It's critical that as a profession, we start to use new and emerging technologies more to our companies,' firms,' and clients' advantage," Frank said. "That's what the conference is all about. We're educating each other about technology to save time and money, improve decision-making skills, enhance tracking and distribution systems ... The possibilities are endless if we philosophically change the profession and gain new tools."

The conference features "shootouts," simulations comparing features of similar products, as well as sessions on audit and fraud considerations for clients on the World Wide Web, the New York State Department of Taxation and Finance's efforts to adopt new technology to improve communications and service, and the AICPA's Top Ten Technologies list. At the end of the two-day event, a panel discussion serves as a wrap-up, provides general observations about current developments, and answers attendees' questions.

Frank and his conference co-chair, Eric Cohen, have put together a faculty of accounting professionals known for their expertise in technology issues including Jason Palmer (Suffolk), Miklos Vasarhelyi, and Walter Schmidt (Suffolk).

"Our speakers are certainly out on the front of the wave of new thinkers," Frank said. "Jason is co-chair of the Society's Interactive Online Resource Committee, and he's an example of the new breed of CPA: He previously served in public practice but he now applies his expertise as a consultant and 'CPA technologist.' Miklos is a prominent accounting educator and innovator, and he understands technology from an educational and a research standpoint. And Walter is certainly ahead of his time. It seems as though he has been touting this thinking forever, and we're only now starting to listen."

The conference provides opportunities to network and set up partnering relationships with other CPAs providing niche services since, as Frank points out, many of the presenters and attendees are CPAs who double as technology consultants.

Frank currently chairs the General Committee on Management Consulting Services, is a member of the Interactive Online Resource Committee, and has served on the Data Processing Committee and the Computer Usage Data Processing Committee. In addition to his committee and conference work with the NYSSCPA and FAE, Frank is chair of the National Conference of CPA Practitioner's Technology Committee, and is a member of the AICPA's Information Technology Section and a founding member of its Virtual Resource Panel. While still in its beginning stages, the panel--consisting of more than a dozen members stretched across the U.S.--can hold real-time virtual meetings, online from their own offices.

A partner with Frank & Zimmerman & Co. LLP, Frank specializes in both hardware and software technology issues, as well as individual, corporate, and partnership taxation.

Frank is married to Michele Parker, an attorney, and has two daughters, Dara and Elana. His interests outside the accounting profession include serving on the board of directors and as treasurer of the Friends of New Music. He also referees soccer games in the West Side Soccer League where Dara plays, and has been pitching softball with the same Central Park team for 17 years. Before becoming a CPA, Frank was a professional musician and still composes, records, and performs with
The D-C-vers.

His closing comments underscore his views on how CPAs are naturally suited to technology consulting, and why these skills are a necessity today.

"If we utilize new technology to work smarter, we're in a position to advise clients on what kinds of technology will work best in their situation. We must acquire the skills that will allow us to consult in new practice areas, and technology consulting is the next great opportunity for us, the new survival skill. Our clients trust us. By our nature we're the ones they can, should, and will turn to for advice. We're the objective eye, and we owe it to our clients and ourselves to stay up-to-date on new technology so we can provide the objective advice clients seek." *