THE YEAR AHEAD. Jim Oliver, CPA, CGMA TSCPA Chairman

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1 THE YEAR AHEAD Jim Oliver, CPA, CGMA TSCPA Chairman

2 THE YEAR AHEAD 1 STRATEGIC PLAN 2 MEMBERSHIP 3 FOCUS ON STUDENTS 4 COMMUNICATIONS/BRAND AUDIT IT ASSESSMENT CGMA PEER REVIEW 8 ADVOCACY

3 STRATEGIC PLAN Charting the Course for the Future of TSCPA

4 STRATEGIC PLANNING PROCESS March 2017 Chapter executive directors meeting June 2017 Strategic planning retreat August 2017 Present to Executive Board for approval January 2017 Membership survey May 2017 Leadership Day input from members July 2017 Strategic Planning Committee meets September 2017 Implement plan

5 PRIORITIES Continue efforts to promote accounting as a major and show students the value in receiving their certificate and sitting for the CPA Exam Market accounting to younger students Increase outreach to firms Communicate the value of TSCPA and the accounting profession and grow the membership

6 MEMBERSHIP

7 MEMBERSHIP Recruiting new members and Society leadership Pass the torch to enthusiastic, strong leaders Increasing number entering the accounting profession We need plenty of CPAs in the pipeline as baby boomers continue to retire

8 SOCIAL MEDIA Texas Society of CPAs is active on social media: LinkedIn (for members only) Twitter Facebook: Texas Society of CPAs *NEW*

9 ONLINE COMMUNITY

10 FIRM OUTREACH Remind large firms that there is value in a coalition with TSCPA They might not need us for CPE, but they could be overlooking other opportunities like networking at our conferences By forging an alliance, they support TSCPA lobbying efforts with the Texas Legislature Large firm support helps TSCPA s efforts to keep the CPA pipeline flowing

11 FOCUS ON STUDENTS

12 CPA PIPELINE Career Awareness Program Student and candidate memberships Campus and faculty reps Accounting Pilot & Bridge Project Scholarships Exam review discounts

13 STUDENT BOOTCAMPS 4-5 to be held in Held on university campuses Keynote presentations on business etiquette, dressing for success and applying to sit for the CPA Exam Panel discussion with local young CPAs Networking lunch giving students access to CPAs and local leaders Free for students to attend

14 COMMUNICATIONS BRAND AUDIT

15 AICPA BRANDING

16 TSCPA BRANDING NEW online community this fall More personalized communications New and improved website

17 IT ASSESSMENT

18 IT ASSESSMENT TSCPA will work with K2 Enterprises to conduct a technology assessment to review technology needs for operational efficiencies as well as technology opportunities to better serve our members We realize that we need to be proactive with technology to meet the rapid changes in the industry moving forward

19 CGMA

20 ENHANCING QUALITY IN BUSINESS WITH CGMA CGMA is a management accounting designation to demonstrate management accounting expertise including advanced proficiency in finance, operations, strategy and management Our membership structure was amended to allow CGMAs to become affiliate members of the Society A joint marketing program is being proposed by AICPA with state societies. A draft agreement is expected from AICPA this summer.

21 PEER REVIEW

22 ENHANCING AUDIT QUALITY INITIATIVE UPDATE Near term Strengthen peer review process Revisit professional standards Resources, tools for firms Reinforce professional ethics Specialized audits Single audit certificates Employee benefit plan audit certificates Near real-time practice monitoring

23 NOT DOCUMENTED? NOT DONE! Peer Review Enhanced Oversight Program Over 50% of non-conformity relates to lack of documentation To obtain sufficient appropriate audit evidence, you are required to document Nature, timing and extent of procedures Results of those procedures Any significant findings, issues or professional judgments Omitted procedures include documentation Failure to comply with AU-C 230 may require action under AU-C 585 Free resources accessible at aicpa.org/documentation

24 PEER REVIEW: HOW CHANGES AFFECT FIRMS Improve detection and accountability Enhanced oversight reviews Improve peer reviewer skills Population completeness Strengthened firm quality

25 ADVOCACY

26 PREP FOR SUNSET REVIEW Debrief of 2017 legislative session - August LAC will identify our agenda/priorities for 2019 Fall 2017 Sunset Review will be our top priority - preserve profession in Texas Support Texas State Board of Public Accountancy as regulatory agency Work cooperatively with TSBPA in the Sunset process

27 ANNUAL MEETING OF THE TSCPA ACCOUNTANCY MUSEUM Jim Oliver, CPA, CGMA

28 ELECTION OF ACCOUNTANCY MUSEUM DIRECTORS Motion: The TSCPA Board of Directors approves the following members as directors of the Accountancy Museum of the Texas Society of Certified Public Accountants for : Jim Oliver, CPA, CGMA San Antonio Stephen Parker, CPA Houston Jason Freeman, CPA - Dallas Thomas DeGeorgio, CPA, CGMA Houston Kathryn Kapka, CPA, CGMA East Texas Jerry Spence, CPA Corpus Christi Michele Heyman, CPA Austin Susan Roberts, CPA, CGMA Fort Worth Ben Simiskey, CPA Houston Diane Terrell, CPA Abilene Wendi Christian, CPA Southeast Texas Angela Ragan, CPA Central Texas Ryan Bartholomee, CPA, CGMA-Permian Edith Cogdell, CPA, CGMA San Antonio William Schneider, CPA, CGMA - Dallas Jodi Ann Ray - Dallas