member Q & A

Q: How long have you been a CPA? Where did you go to school? What made you decide to become a CPA?
A: I’ve been a CPA for 20 years after graduating from Baruch College. I had a desire to combine interpersonal skills and the love of numbers effectively.

Q: What category do most of your clients fall into: small-, medium-, large-size businesses? Individuals?
A: Small businesses and individuals

Q: What are your primary functions and responsibilities? What do your clients most frequently rely on you to do?
A: Write-up, taxes, attest functions and general business matters.

Q: What are the biggest differences between your work-related concerns and the work-related concerns of CPAs who belong in industry or in other practices? What are the similarities?
A: I do not see an issue that I believe is a “major” difference among us. Relatively speaking we all face the issue of resource allocation, staff development, standards overload and attracting more quality people to our profession.

Sole practitioners like myself must invest fair sums to maintain a quality reference library. This allows us to balance the ramifications of standards overload. In addition, workload compression continues to be a problem, and all public accounting participants must seek relief from the government. Obviously, larger firms have more resources to meet these needs. Members in industry such as CFOs (chief financial officers) and controllers appear to mitigate their needs by relying on outside CPAs.

Our similarities continue in trying to achieve meaningful CPE (continuing professional education) at moderate prices. Also, all members face a major struggle in hiring and retaining quality staff.

Q: Do you believe the public has an accurate understanding of what the CPA brand represents? Do you think it’s necessary to better market the CPA image to the general public? If so, what can state societies do to accomplish that task?
A: The public does not fully understand the breadth of knowledge of a CPA’s ability. It is imperative that we market CPAs better, and state societies can enhance the process by combining talents with the American Institute of CPAs and pool advertising.

Q: What, in your opinion, will happen in the wake of the AICPA membership vote on the global business credential? What will be the ramifications to members of the NYSSCPA if it passes/fails?
A: A considerable splintering of CPAs between the perceived haves and have-nots. The New York State Society of CPAs must address the fallout with the AICPA in financial terms. We have to make sure our affinity programs are competitive with the AICPA’s so the membership doesn’t lose benefits; the pricing has to be similar and the benefits have to be similar or better.

Q: What are the significant developments to take place over the last five years in the kind of work you perform for your clients? How much would you say advancements in technology have contributed to those developments?
A: The development of the Internet and the innumerable benefits it provides; the number of software programs designed to enhance the value for small business; the improvements in tax software. E-mail has improved and small businesses are more willing to use it to communicate. Personal computers are more affordable and allow small businesses to configure their operations (e.g., networks, etc.), portability at an affordable price (e.g., notebooks). The Internet also allows for more commerce in a tax-free environment.

Q: What have been the short-term effects of the Sept. 11 terrorist attacks on consulting services? What do you think the long-term effects will be?
A: In the immediate tri-state area there was widespread PTSD (post-traumatic stress disorder). Eventually people will get back to business as usual, because there is simply no place like New York with the securities and banking industry, Broadway, the Yankees and late-night dining.

Q: Have SEC rulings on auditor independence in the last year changed the way you serve your clients? If so, how?
A: No. Whereas specific rule changes should enhance public perception of our integrity, it has also reminded CPAs of why we are so trusted.

Q: Does auditor independence remain a controversial issue between the accounting profession and the SEC?
A: No, and it shouldn’t be. We have far too much in common and we can be good for each other.

Q: Do you think CPAs in industry are affected the same way by trends in accounting and auditing as you are?
A: Yes, in a qualified sense. Many CPAs in industry have liaison responsibility with their respective audit firms. Also, many CPAs must address Financial Accounting Standards Board issues in a way that complies with all A&A pronouncements. In fact, a lack of compliance would affect their licensing.

Q: What are some of your core objectives for the coming year? What do you anticipate to be your biggest challenges?
A. (To) address basic financial fears of my clients. Profitability, retirement, taxes and long workdays. Personally, I strive to be “superefficient” by the way I think, operate and communicate. With respect to my roles with the state society, I simply want us to serve the members’ needs better and increase participation with practitioners and industry members. I believe getting the UAA (Uniform Accountancy Act) passed is absolutely imperative.

Q: With respect to the entire accounting profession, what are the advantages of working in practice versus working in industry? Conversely, what are the disadvantages?
A. I have always believed that the practice of public accounting is the most exciting event I have had the privilege of participating in. The many needs of small businesses are pervasive and quite often cast sole practitioners in the role of teacher, mentor, mediator, hand-holder and trusted advisor, in addition to the other “normal” things we do as CPAs. The disadvantage is the possibility of trying to be too much to too many.

Q: Do you believe the Society adequately represents your interests? If not, what could be done to make sure you receive fair representation?
A: The state society has always addressed many issues. If, however, we do not seek to reach more members through our 17 chapters, it would be a fantastic opportunity wasted. The recent involvement in the XYZ discussion, the attendance at recent chapter events, leads me to believe that our state society is communicating superbly. We must continue to advocate on legislative as well as accounting matters. Finally, the unselfish attitude of our leaders could teach the AICPA something about the big tent and its attributes.