Dec 30, 2013

PICPA Best of 2013, and a Look Ahead

By Mike Colgan, PICPA Executive Director and CEO

Happy New Year
Well, 2013 is in the books, and as I start to think about the New Year, a fresh start, and my new resolutions, it is a good time to reflect for a moment on the past year.

If you are a regular reader of CPA Now, you know that it has been a good year at the PICPA, with many new initiatives and accomplishments. None of these successes would have been possible without the support and commitment of the PICPA members who participate in leadership, on committees and task forces, and as key contacts or spokespersons. A quick scan of some highlights:

  • Passage of Act 15 of 2013, which amends the Pennsylvania CPA Statute to allow a general experience requirement to become a CPA in Pennsylvania 
  • Changes to the Board of Finance and Revenue, which reforms the tax appeals process 
  • Modifications to the audit guidelines of the Department of Community & Economic Development (DCED) and Department of Public Welfare (DPW), which ensures compliance with professional standards 
  • Development and growth of on-demand CPE programming, which continues the evolution of PICPA’s CPE delivery to meet the growing demand for technology-based quality education 
  • Evolution of PICPA’s governance model, which expands engagement opportunities for members and helps create a larger pool of future candidates for leadership positions 
  • Creation of our Next Generation Leadership program for aspiring members seeking leadership positions within their organizations 
  • Technology enhancements to meet members’ expectations for a quality, seamless www.picpa.org experience whether from a desktop or mobile device 
  • Record numbers of student members in the PICPA and accounting enrollments in Pennsylvania colleges and universities, and the introduction of our new student Leadership Academy 
  • Increased social media awareness, as member interactions via Facebook, LinkedIn, Twitter, CPA Now, and YouTube continue to grow.

So, what lies ahead in 2014? Will the economy continue its recovery, and will growth within the profession continue? Our members think so, according to recent CPA poll results. Accounting graduates will again be at record highs, as will the number of candidates hired within the profession, which still has 10 percent growth projections through 2022. Technology will continue to impact how CPAs provide services to clients and employers, and how they do business. CPE will continue to evolve with technology, and changes to accounting education models at both the secondary and collegiate level will be sought. Social media will continue to change the way the business world communicates and news is delivered. Regulators will seek changes to provide more clarity and information to public company audit reports, and the trickle-down effect will try to capture privately held businesses and not-for-profits. Merger activity within the profession will increase, and succession planning is going to be critical for the more than 50 percent of firms that have yet to put a plan in place.

Despite the many changes 2014 will bring, know that the commitment to enhance your experience with the PICPA and provide you with more value is unwavering. You have an outstanding team of PICPA employees at your disposal to assist you in providing the highest quality of services to your clients and employers. Let us hear from you about the issues you are thinking about for 2014.

I wish all of our members continued prosperity and good health in 2014!

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Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of PICPA officers or members. The information contained in herein does not constitute accounting, legal, or professional advice. For professional advice, please engage or consult a qualified professional.