By Nellie Gomez, Committee Services

A Note From NYSSCPA Vice President, Committees: As part of the New York State Society of CPAs’ ongoing effort to keep its members well informed, The Trusted Professional presents this second installment of Committee Close-Up. I encourage you to read this regular feature that covers the latest events and developments of the Society’s more than 60 committees, providing a glimpse of how much more active committees have become in educating members, commenting on regulatory proposals and enhancing our proficiencies. Please also note the professionalism and camaraderie that exist to make the CPE sessions productive and informative. It is not inconceivable that your fellow CPA could be the troubleshooter and problem-solver for your firm.
— Ian M. Nelson

Not-for-Profit Organizations Committee

The Not-for-Profit Organizations Committee, chaired by David Ashenfarb, held a CPE session at its Feb. 5 meeting. Guest speaker John M. Murphy, CIMA, Financial Consultant Investments, Salomon Smith Barney, presented a session on “Procedural Prudence for Nonprofit Directors and Trustees.” Murphy outlined the legal responsibilities of board members and trustees and suggested tips for selecting an investment advisor. A question-and-answer session followed, in which Murphy and members discussed index funds, setting and monitoring of standards for portfolio managers, and the optimal frequency of reporting to a board of trustees.

Chief Financial Officers Committee

The Chief Financial Officers Committee, chaired by Mark Ellis, hosted a presentation on “Legal and Ethical Issues Regarding Internal Investigations of Employee Misconduct” on Feb. 26 at the headquarters of the New York State Society of CPAs. The guest speaker was Robert M. Weiss, Esq. /L.L.B., McLaughlin & Stern LLP, who discussed topics such as writing policies on prohibited employee conduct, providing training for employees, and three kinds of investigations involving employees: in-house investigations, attorney investigations and third-party investigations.

Business Valuation Committee

The Business Valuation Committee, chaired by Morton Cohen, held a CPE session at its February meeting. Guest speaker Barclay Griffiths spoke about “Consolidation in the U.S. Beverage Industry.” Griffiths covered trends in the food and beverage industry, and mergers and acquisitions in the bottled water industry, among other topics.

Management Tools and Techniques Committee

The Management Tools and Techniques Committee, chaired by Peter Morris, held a CPE session in late January presented by Jason Palmer, president of Palmer Computer Services. Palmer led an information-packed discussion titled “Keep Office Technology Up to Date.” The objective was to come to an understanding of different kinds of computer upgrades, when to upgrade, and the cost/benefit factors to consider before upgrading. The presentation was designed for executives and mangers with decision- making authority over computer hardware and software purchases, and included discussions of system upgrade alternatives, cost factors and licensing issues, open source codes versus commercial products, and system backup.

If you are interested in applying for committee service, feel free to contact Ernie Markezin, NYSSCPA associate director of committee services, at ejmarkezin@nysscpa.org, or Nellie Gomez, NYSSCPA committees manager, at ngomez@nysscpa.org.