Actually it was 2,162.  A record.  A little over 3,000 miles of windshield time to meet with Indiana CPAs during 16 presentations.  The INCPAS annual “Professional Issues Update.”  The 14th year.

PIUpeopleI would say that about 1/3 of you that are reading this attended one of the programs.  That’s because about 30% of the Indiana CPA PIUblog_garySociety membership attends the program.  97% of those who attended said that they received value.  About 44% say they attend to learn about issues affecting the profession, and we all know that some attend because it is free CPE – 24%.  That’s okay.  Compliance is expensive and even though someone comes because it is free CPE, they still get some valuable insight into what is happening in the profession.

Society leadership and staff get something as well.  Valuable insight to what Indiana CPAs are thinking about current issues facing the profession.  We may not be doing the best job we can in reporting what you and your professional colleagues think about things like government regulation, public policy, private company financial reporting and integrated reporting.  So, I will share some feedback here.

When it comes to government regulation, 39.5% of INCPAS members are very concerned with the increasing level of government involvement in the regulation of the CPA profession.  Public policy?  34% of members who attend the PIUs believe that the Society should be more active on public policy issues not directly related to the profession.  A plurality of members is undecided on that point.

Everyone knows that business is changing.  Financial and business reporting needs to change as well.  Indiana CPAs recognize that.  45% of members think the AICPA Financial Reporting Framework for SMEs is a “good idea” (47% undecided) and 74% believe that the profession has opportunities to add value through integrated reporting.

With all of the transformations we face (it seems almost all of the time), Indiana CPAs recognize the need for a different approach to learning and competency development.  We found 44% agreement with the use of competency assessment models as an alternative to what everyone knows as CPE (a decades old system sorely in need of an overhaul).

Leadership and staff can use this information as we plan for the future … to make sure that every effort is made to remain relevant and a valuable resource to CPAs throughout Indiana.

If you attended this year, thank you.  If you didn’t make, try to make it a point in 2014.  Or even better yet, send a cross section of staff from your firm or office (some people of different ages, positions and experience levels).  You and they might pick up one or two things that make you a better CPA.  Society leadership and staff benefits from your insight and opinion.  And don’t forget.  Free CPE.