The hopes and opportunities that lie ahead for the profession and our organizations are exciting. Achieving success in 2022 will again take focus, flexibility, and creative solutions to both known and unknown challenges.
As Tony Robbins said, “Stay committed to your decisions, but stay flexible in your approach.”
The Nebraska Society of CPAs remains committed to the CPA profession—we are here to support you with education, advocacy, and leadership that will help you best serve your clients and communities. And we’re also staying flexible—shifting our plans and strategies as needed but not changing our vision and our mission for the Society.
Board Kicks Off 2022
The Society Board of Directors held its first meeting of 2022 on January 4, with Society Chairman Erica Parks presiding. The board reviewed the approximately $1.2 million Society budget for 2022-2023, which includes a slight increase in dues for the coming year. The last dues increase occurred in 2018. Registration fees for Society Continuing Professional Education (CPE) will remain consistent.
In anticipation of the new fiscal year, which begins April 1, data profiles have been mailed to all members. Please be sure to send any address changes and other updates for your firm or yourself to society@nescpa.org or mail your form to the Society office as soon as possible.
The following list highlights some of the additional information and actions taken at the January 4 meeting:
- The Society Board approved 30 applications for membership, including nine CPA memberships, one Exam-Qualified Affiliate membership, two Professional Affiliate memberships, and 18 Student Affiliate memberships. Total membership now stands at 2,569 individuals.
- Society Vice President Kelly Ebert presented a report on the results of the Society’s 2021 CPE programs, which had a total of 2,824 registrants. This included registrations for both NESCPA courses and partner courses. Vice President Ebert stated that the Society plans to hold approximately 30 courses in person in 2022, while continuing to provide numerous Society courses online. This is in addition to the thousands of online courses that will continue to be available at www.nescpa.org/cpe. Ebert also presented the 2022 conference schedule to the board—see page 9 for the dates.
- Following a request for audit proposals to the full membership last fall, the Society Board voted to approve the Audit Bids Committee’s recommendation to retain Grafton & Associates, PC, of Lincoln to provide professional accounting and tax services to the Society, its Foundation, and the Political Education Committee for the next five years.
- The Society Board approved the recommendations of the Awards Selection Committee to honor four outstanding Society members during the 2022 Annual Meeting.
- Board member Tom Purcell presented a brief report regarding the Rules of Professional Conduct Task Force, led by the Nebraska Board of Public Accountancy. The task force consisted of members of both the State Board and the Nebraska Society of CPAs, and was formed to review Chapter 5, the Rules of Professional Conduct, adopted pursuant to the provisions of Section 1-112 of the Nebraska Board of Public Accountancy Act, Title 288. Purcell reported that the recommendation of the task force to the State Board will be to adopt parts of the AICPA’s Code of Conduct as guidance documents rather than pursuing rule changes.
Event Held to Honor State Senators
Following the board meeting on January 4, the annual State Senators’ Reception and Dinner was held at The Cornhusker Marriott, Renaissance Room, in Lincoln, with about 45 people attending, including 20 state senators. After cancellation of last year’s event, this long-standing tradition provided a welcome opportunity for CPAs to connect with state senators and for senators to reconnect with one another prior to the start of the second session of the 107th Legislature on January 5. Photos of the event are included in this article.
Legislation Review Meeting
Society lobbyist Korby Gilbertson of Radcliffe, Gilbertson & Brady led a review of proposed state legislation of potential interest to the profession on January 24. Members of the Society Board, Political Education Committee, Legislation Committee, and Taxation Committee participated in the discussion to help determine the Society’s positions on various bills and to bring awareness to various tax, employment, and licensing bills that were introduced during the first 10 days of the Legislature. A total of 587 new bills have been introduced this session. In a short, 60-day session, things move quickly—floor debate started January 10 and public hearings began January 18.
On January 24, Society Past Chairman Ryan Burger presented testimony before the Nebraska Legislature’s Banking, Commerce, and Insurance Committee in support of LB894. The bill was introduced by State Sen. Matt Williams (Dist. 36) of Gothenburg on behalf of State Sen. John Stinner (Dist. 48) of Gering, who was unable to attend as he was conducting the Appropriations Committee’s hearing on the Governor’s recommendations for funds available to the state through the American Rescue Plan Act (ARPA).
Recognizing the many challenges for owners of small CPA firms, particularly those located in our state’s numerous rural communities and small towns, the Society worked closely with the Nebraska Board of Public Accountancy in the drafting of LB894. The Society Board and the State Board explored solutions to the barriers established by our present law, created a joint task force, and carefully reviewed Nebraska’s laws and regulations to determine the best approach to small CPA firm ownership challenges. The result was LB894.
LB894 will allow what the majority of other states already permit: that a simple majority of the ownership of a firm, in terms of financial interests and voting rights, belongs to a licensed CPA. LB894 removes the “head count” requirement so that a CPA firm may be owned by one CPA and one or more non-CPAs—as long as the CPA or group of CPAs hold at least 51% equity ownership of the CPA firm. The bill is non-controversial and will likely be combined with other such non-controversial bills in order to cross the finish line.
Legislative priority areas for the Society include:
- Promoting consistency in the administration and enforcement of Nebraska statutes and rules related to the Nebraska Public Accountancy Act and the practice of accountancy for licensed CPAs.
- Gauging the effect of legislative proposals on the CPA profession, supporting those solutions that create a favorable environment for the profession and opposing those that do not.
- Opposing the taxation of professional services.
- Opposing irresponsible licensing reform that would negatively affect the CPA profession.
Stay posted on legislative news at www.nescpa.org/advocacy/news.
Helping to Grow the Pipeline
Your Society continues to seek new and innovative ways to help grow the CPA pipeline through outreach efforts to Nebraska high school students. Thank you to the following firms for their significant support of the following events, which are provided at no cost to students:
- On February 9, Lutz and Seim Johnson will be sponsoring the first “Economics & Accounting Day” for Nebraska high school students at the University of Nebraska-Lincoln College of Business, planned and hosted by the Nebraska Council on Economic Education. The program will cover accounting, economics, and personal finance while exposing students to different areas of business and hands-on activities. Eight Nebraska high schools and 149 students have registered to participate in this event. Learn more at https://bit.ly/NCEE-EconAcctDay.
- Due to the overwhelming response by students and teachers, a second “Economics & Accounting Day” has been scheduled at UNL for February 23, with KPMG LLP serving as the sponsor. Five schools and 100 students have registered for this event.
- On June 1-3, Deloitte will sponsor transportation for students to attend UNL’s Discover Accounting program. This free pre-college program provides high school students with the opportunity to meet industry professionals and tour workplaces, compete to create solutions to a business problem, experience living on campus by staying in a university residence hall, and learn how to prepare and pay for college. You are encouraged to nominate one or more students you think would be a good candidate for this program at https://bit.ly/DiscoverAccting.
Additional sponsorship opportunities will be available in the future. Please let us know if your firm is interested in getting involved and sponsoring these types of outreach efforts.
The next Nebraska Society of CPAs Board of Directors meeting will take place May 4. Please feel free to contact me or any member of the Society Board with suggestions or comments prior to the next meeting. And remember, as you embark on the 2022 busy season, stay committed but stay flexible!
Joni Sundquist is president and executive director of the Nebraska Society of CPAs. You may contact her at (402) 476-8482 or joni@nescpa.org.
