The PICPA Audit Committee met on Thursday, June 28, to review and approve for issuance the combined audited financial statement of the PICPA. The audited financial statements once again received an unmodified opinion.

As a result of the Tax Cuts and Jobs Act, you may be enjoying some extra money in your take-home paycheck. But you may want to take a moment to consider the impact of these extra dollars come tax filing time next year.

Cyber liability insurance and related risk mitigation is an area for which many in corporate finance are finding themselves responsible, despite having no background in technology. Cyberthreats are truly a business risk that demands attention from the C-suite as well as the directors and officers.

CPAs help others see the “story” being told by financial information, whether it be a board of directors or an organization's staff. However, the message is delivered differently based on the audience. So try to keep the following points in mind when presenting financial information to a group.

The PICPA Board met on June 25, 2017, and at that meeting PICPA’s audited financial statements were presented. The combined statements include the accounts of the PICPA, the PICPA Foundation for Education & Research, the Pennsylvania CPA Foundation, and the Scholarship Fund of the PICPA.

I am thinking about what the new not-for-profit standard – ASU 2016-14 Not-for-Profit Entities (Topic 958) – will mean for the PICPA. Because the standard is effective for fiscal years beginning after Dec. 15, 2017, we will be implementing this standard for our fiscal year beginning next May. But we present comparative financial statements, and as such we will have to consider any changes beginning with this fiscal year. How are other CPAs in the not-for-profit world approaching this standard?

The PICPA has a lot to offer our corporate finance members. Here are the top five issues members in corporate finance tell us about, and some of the resources the PICPA offers to help.

I know I often use my own network of CPAs as a sounding board for technical and business questions. To bring our members this value of interconnectedness, we’ve just launched a new digital option to grow your network: a robust discussion forum platform called PICPA Connect.

Was life easier for women two or three generations back, when the choices they faced were much more limited? Maybe, but would you trade away the spectrum of choices women have today?

In transitioning to the role of CFO of the PICPA, I’ve had to develop skills beyond the normal technical expertise of a CPA. Now, instead of focusing on the past through historical financial reporting, I’m challenged to look ahead and use the financial data we have to inform strategy.

My first audit as CFO of the PICPA, however, has shown me that the view can be quite different from the other side of the table. Reflecting on this experience, I did find some surprises. Here are some things that I wish I had known; things that I think would have made me a better auditor.