September 2007 | Inland Empire Chapter Bulletin

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CHAPTER EVENTS

September Monthly Chapter Meeting: A&A

Join us for this two-part meeting featuring guest speaker Jim Kennedy, who will discuss implementation issues for the new risk assessment standards, “Statements on Auditing Standards 104–111” and review of SAS 112 “Letters Communicating Internal Control Related Matters Identified in an Audit.”
   The afternoon session on SAS 104–111 will incorporate down-to-earth, practical guidance for using the most popular practice aid (PPC), so if you have been fretting about how to implement these new standards, fret no more.
   The evening program on issuing SAS 112 letters will feature a  discussion on the implementation of this controversial standard. The discussion also will incorporate initial observations on the addition of SAS 114 letters (“The Auditor’s Communication With Those Charged With Governance”) to the list of must dos for every audit engagement.

Date: Tuesday, Sept. 18
Time: 3 p.m./registration; 3:30–7 p.m./program
Location: Magic Lamp Inn; Rancho Cucamonga
Cost: $45/members; $60/nonmembers
CPE: 3 hours
RSVP: Online

Member Guest Social

Date: Friday, Sept. 28
Time: 6–9 p.m.
Location: Dave & Buster’s (Ontario Mills Mall)
Cost: $10/members and nonmembers
RSVP: Online

October Monthly Chapter Meeting

Topics: PFP, Financial Literacy and MAP
Date: Friday, October 19, 2007
Speakers: Chuck Copeland, Tracy T. Wirtes and Mark Fowler
Time: 11:00 am–5:00 pm (Registration at 10:30 am)
Location: Riverside Convention Center, Riverside
Cost: $60 CalCPA Members, $75 Non-Members; Student Discount: ($37)
CPE: 6.0 CPE (Continuing Professional Education) Total Credit

This six-hour event consists of three, two-hour CPE sessions:
   The first session includes a working lunch and will focus on personal financial planning. Guest speaker Chuck Copeland will discuss an overview of the market, understanding investment alternatives and understanding the principals of investing.
   The second session will cover financial literacy and feature guest speaker Tracy T. Wirtes, CPA, who will focus on CalCPA’s Dollars & Sense program. The program covers basic financial considerations, including credit cards, loans and college costs. More specific programs include topics for military personnel, parents and small-business owners.
   In the third session, guest speaker Mark Fowler will present “Attracting, Developing and Retaining Talent by Being the Firm You Have Always Wanted To Be.” The challenge of quality talent is not going to resolve itself on its own and requires the concerted effort of our profession to advance the attractiveness and the effectiveness of our work and how that work is accomplished. This presentation will touch upon issues including the challenges facing the profession and what can be done about them, essential elements to making your firm organizationally attractive, and what to do and what not to do to successfully recruit, screen and hire the right talent

Student Scholarship Event [PDF]

Meet CalCPA Chair Teresa Mason. Free recruiting and marketing—reserve your table now!

Date: Friday, Nov. 2
Time: 2-6 p.m.
Location: Ontario Convention Center; 2000 E. Convention Center Way; Ontario
Cost: $6 (Please note that there is a $6 parking fee. Your paid parking stub can be exchanged for entrance into the event.)
Info: Contact chapter program associate Monica Thompson.

Upcoming Board of Directors Meeting

Date: Monday, Sept. 10
Time: 7:30–9:30 a.m.
Location: Mission Inn; Riverside
RSVP: Online
 
Date: Monday, Oct. 1
Time: 7:30–9:30 a.m.
Location: Coco’s; Ontario Mills
RSVP: Online

Golf Tournament

By Dick Savich, Golf Committee Chair
Mark your calendars for the next Inland Empire Chapter golf tournament. We have the opportunity to play a premier course during prime season at the same price as last year, which includes lunch, dinner, carts, practice range, special contests, prizes, drinks, refreshments and more.
   Be prepared to take advantage of this great deal and get your foursome together now. Look for more details in future Bulletins.
   If you want more information about sponsorships or exclusive participation, contact Monica Thompson. See you there!

Date: Monday, May 19, 2008
Location: Greg Norman Course at PGA West; La Quinta
Cost: $175/per person
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PRESIDENT’S MESSAGE

A Matter of Principle!

By Renee H. Miller, CPA

Earlier this year CalCPA launched the Young and Emerging Professionals initiative. In addition, I am pleased to announce another new initiative, which focuses on women CPAs. You may have already received information about the initiative’s upcoming event, Celebrating Women CPAs, which will be held Friday, Oct. 19, in Century City.
   In the event announcement, CalCPA states it is committed to advancing women within the CPA profession. One of the sessions is titled “Leading the Profession.” Recognizing women as leaders in accounting is a big change from years ago. One of my earliest memories of public accounting was being invited for lunch at one of the private clubs in downtown Los Angeles and being told that I would be entering the building through a special elevator and side door because women were not allowed to enter through the front door. It reminded me of when my mother told me that I should enter through the back door because my shoes were dirty, but, of course, that made sense.
   Today things are different. There is a much greater acceptance of women entering the accounting profession and pursuing careers both within and outside of public accounting.
   Competing for your attention on Oct. 19 is a six-hour CPE event sponsored by the Inland Empire Chapter to be held at the Riverside Convention Center. (We try not to schedule events on the same days, but sometimes there are limits to the availability of facilities and speakers.)
   This event is really three, two-hour CPE sessions running back-to-back. The format gives you the option of attending one, two or all three CPE events, and we hope that the program’s time flexibility will be attractive to a large number of our chapter members. The program will cover some very useful and timely topics in the areas of personal financial planning, financial literacy and management of an accounting practice. Please check this Bulletin for additional details.
   Please remember that as a CalCPA member, you have access to much relevant and useful information. For example, if you sign up for CalCPA’s Daily Clips, you will receive e-mails containing links to articles and websites that may be of interest to you. You may find, as I do, there is not enough time to explore all of the links or read the complete articles. But you can browse the headlines rather quickly to get a sense of what is going on and then read what you want.
   For example, I am interested in keeping abreast of the convergence efforts between U.S. GAAP and International Financial Reporting Standards. Through the Daily Clips, I found my way to the SEC website and read material that may be useful in the classroom this fall.
   As examples, recent speeches given by SEC Chair Christopher Cox and others on the standards convergence topic are posted on the SEC website, along with relevant press releases, the proposed rule “Acceptance From Foreign Private Issuers of Financial Statements Prepared in Accordance With International Financial Reporting Standards Without Reconciliation to U.S. GAAP,” instructions for submitting comments and comments already submitted by others.
   On the CalCPA website, I found a very insightful article in the July 2007 edition of California CPA titled “Waiting to Converge: Global Accounting Standards.” This article covered an interview with Robert Bunting, deputy president of the International Federation of Accountants, an association of professional accountancy bodies from nearly 120 countries, including the AICPA, the National Association of State Boards of Accountancy and the Institute of Management Accountants. His insight gives us a peek into the complexities involved in moving to international accounting standards and the issue of rules vs. principles-based standards.
   If you have not already done so, please mark your calendar for our first chapter meeting, Tuesday, Sept. 18, at the Magic Lantern Restaurant in Rancho Cucamonga. CPE topics will include the new risk assessment standards and the standards pertaining to communicating internal control-related matters identified in an audit, and the auditor’s communication with those charged with governance. It should be a very good start to the fall line up of events. I look forward to seeing you there.
   Best regards,
–Renee H. Miller, CPA
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CHAPTER NEWS

Who’s Worthy?

Do you know a chapter member who goes above and beyond when it comes to community involvement and helping the less fortunate? If so, make sure to submit the person’s name and a brief description of why you believe they should be honored for our annual Distinguished Service or Public Service awards.
   Past PSA recipients include Don Driftmier, Walt Reardon, Mike Adcock, Deborah Crowley, Pat Spafford, Jessie Powell, Helene Blumner and Bruce Gray. Driftmier also received last year’s DSA.
   Nominations may be e-mailed to chapter program associate Monica Thompson or mailed to P.O. Box 974; Moreno Valley, CA 92556; or fax to (951) 924-8298.
 

Volunteer Spotlight: Mary A. Park, CPA, CMPE

Mary Park is vice president and CFO of the Blood Bank of San Bernardino and Riverside counties, which helps save lives by connecting donors and patients through the gift of blood.
   Mary is also a member of the advisory board for OneLegacy, an organ procurement agency for Southern California, president and chair of the Loma Linda Eye Foundation for the Preservation of Sight, and director of the Miller Health and Education Foundation.
   We salute you, Mary, for your willingness to make our community a better place by giving so tirelessly of yourself.
   If you, or someone you know, contribute to the community as a volunteer, let us know.
 

Nominations Committee Formed

The Nominations Committee is charged with selecting the 2008–09 slate of candidates for officer positions and board members and is in the process of submitting its nominations. Committee members are Scott Hofferber (chair), Renee Miller and Clifford Baugh.
   If you have a suggested nomination, contact chapter program associate Monica Thompson.
 

New Members

On behalf of the Inland Empire Chapter’s officers, directors and members, we extend our warmest of welcomes to our new members, Deborah Bowles, David Candelaria, Ursula Garrett... [see all new members]
 

Bulletin Deadlines

Keep these due dates in mind if there’s something you’d like to publish in the Bulletin. Send information to program associate Monica Thompson.

October issue: Sept. 10
November issue: Oct. 10
December issue: Nov. 9
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CalCPA NEWS

Celebrating Women CPAs

Join us for a day of leadership development, professional growth and recognition as we celebrate California’s women CPAs and their tremendous contributions to the profession.
   Attend Celebrating Women CPAs and leave with:

• A clear vision of the ascent of women within the CPA profession;
• Social and professional connections to last a lifetime;
• Action steps to effect social change;
• Keys to excelling as a mentor; and
• Strategies and tactics for managing and resolving conflict.

   Confirmed notable speakers include California Assembly Member and CPA Fiona Ma, and Judy Olian, Dean of UCLA’s Anderson School of Management.
   Don’t miss this phenomenal event, Friday, Oct. 19, at the Intercontinental Hotel in Century City.
   Register online today or call (800) 922-5272.
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Inland Empire Chapter Leadership