The world is a big place. There are lots and lots of hazards in the world. When you were a kid, mom and dad, grandma and grandpa, and others tried to make your world safe for you. They told you to look both ways before you crossed the street (of course after they told you that it was even okay to go across the street). You were told not to talk to strangers. Don’t go out by yourself. Oh, and don’t try to lick the pole when it’s freezing cold or your tongue will stick to it.
Well, now you’re all grown up. You’re a professional – a CPA. In many ways, the world is scarier now than when you were young, mostly because you better understand the world. It is even scarier because the world seems to have gotten much more complex. Complexity has created more risk.
At the Indiana CPA Society, we increasingly spend time making sure your CPA world is as safe as possible Why? Well, let’s take a look at what’s been going on in 2012 just in state legislatures.
There have been 40 bills in 19 states related to boards of accountancy, 7 bills in 4 states regarding auditor rotation, 4 bills in 3 states on peer review, 3 states have seen legislation on regulation of tax preparers, and there are 19 bills across the country that would affect tax on accounting services. All of this is just at the state level. Of course there is ongoing “noise” in Washington, D.C., about mandatory audit firm rotation, attempts to legislate accounting standards, and exceptions from the SOX 404 requirements.
You’re pretty busy keeping the boss or clients happy. You don’t have time (and with all due respect, the expertise) to monitor, let alone influence, all of this. That’s where we come in. We are out there each and every day trying to make sure that world is “safe” for Indiana CPAs. We work with the legislature, the board of accountancy, the department of revenue, and whatever other agency decides it’s time to regulate or otherwise affect the professional lives of our members.
So, maybe you can sleep better tonight or have some comfort tomorrow at the office knowing we are out there … working on your behalf … making your professional world a little more safe.
By the way, remember to change the smoke detector battery. And … please lock your car. Finally, make sure that your underwear is clean … just in case.