By Kathy Yu-Liu, CPA

The chapter’s board of directors held a planning conference in May to coordinate chapter meetings, CPE programs, networking opportunities and other events that may be of interest to you. At the meeting we welcomed Gary Hammond, our new program director, who is replacing Susan Klein. Susan has taken on new responsibilities as program director, including working with CalCPA’s Business & Industry Committee. Thanks to her for years of guidance and support to our chapter.

   Also joining the meeting were our new board members: Jennifer Sawyer and Joe Williams. Jennifer was a graduate of the 2006 CalCPA Leadership Institute Program, and we’re glad that she will be applying her new leadership skills by joining the chapter board. The Leadership Institute is inviting applicants to the 2007-08 program, which is designed to teach potential member leaders the specific skills necessary to grow into future leadership positions at CalCPA and in the profession. The application deadline is Aug. 3. If you are interested in this program, please download an application at www.calcpa.org.

   At the planning meeting, we were excited to learn about the great plans various special interest groups (SIG) and committee leaders have in store for the upcoming year. Among the presenters were Elizabeth Dollar and Carol Duffield (co-chairs of the Nonprofit SIG), Regina Bianucci Rus (the new Marin Discussion Group leader), Connie Tiret (chair of the HR/Admin SIG) and Mike Benjamin (co-chair of the Biotech SIG). Various board liaisons also reported on behalf of their respective SIG and committee activities. Please check out future chapter newsletters for upcoming events and consider attending and supporting your SIG and committee chairs, as they have contributed their valuable time to serve your interests.

   Linda Montgomery, chair of the Tax-Aid SIG, discussed 2007 Tax-Aid’s remarkable results. Tax-Aid coordinated 68 sites, served more than 12,000 clients, generated $5.2 million in earned income tax credit and processed more than $12 million of tax refunds for low-income families. Many Tax-Aid volunteers and site managers are CalCPA members, providing tangible examples of members who care and serve our community well.

   Please join me in congratulating Dennis Wu, who was awarded with the Bay Area CFO of the Year Community Service Award June 6. Dennis is the executive vice president and CFO of UCBH Holdings Inc., the holding company for United Commercial Bank. The award is presented by the San Francisco Business Times at an event to benefit Larkin Street Youth Services.

   Dennis won in the category of CFO of a public or private company who, in addition to excelling professionally, has given time and energy to building community and enhancing the quality of life in the greater Bay Area. CalCPA was proud to nominate Dennis and Susan Klein had the honor of presenting the award to Dennis at a well-attended ceremony.

   The diverse initiatives and events that I mentioned above help illustrate how the CPA profession continues to evolve. CPAs no longer serve solely within the reporting and compliance capacities. Rather, we are looked upon as valued professionals playing a key role in managing and advising organizations. For example, research indicates that the CFO domain has expanded dramatically to include key roles within strategy, IT and HR, among other areas. Today’s CPA profession is exciting and offers boundless opportunities.

   The chapter will evolve accordingly. To accomplish this, I encourage each of you to get involved and to share your interests and backgrounds as you participate in our organization. Making our diversity a strength benefits the chapter and community, as well as the careers of individual members.
—Kathy Yu-Liu, CPA

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The Beluga Room at Farallon with its evocative undersea décor was the unusual setting for this year’s Annual Chapter Luncheon, which attracted 70 members and guests and included a discussion about San Francisco’s early history from historical society founder Dr. Charles Fracchia. During the evening, Fracchia theorized that the trail-blazing spirit of adventure of the gold rush pioneers has had a long-term impact on the character of our favorite city. Look for a book from him on this topic next year.

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Chapter member Dennis Wu recently received the CFO of the Year Community Service Award at a dinner sponsored by the San Francisco Business Times. Dennis has an outstanding record of community service over many years, which includes:
• He was the first racial minority president of both the Commonwealth Club and the Haas School of Business Alumni Association
• He was on the board of Self Help for the Elderly and has worked with the Chinese American Voter Education Committee
• For the past 10 years he has served on the board of the Cow Palace
• He is a member of the Yosemite Fund Council and trustee emeritus of the San Francisco Ballet, having served on its board, and
• He was a member of the board of directors of the Stern Grove Festival Association for 18 years. 

   Dennis has served on numerous other professional and community boards, including the San Francisco Chamber of Commerce, from which he received the Business Leader Award in 1988, the most prestigious award given to individuals in the private sector who contribute to cultural organizations. 

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Do you want to sign up for the chapter golf tournament, but aren’t really confident about your putting? Or chipping? Or just being on the golf course as other people watch you?  Don’t worry, every golfer feels that way—but we have the answer: one of Harding Park’s golf pros will instruct you in the basics (and give more advanced players some new tips) so you feel confident stepping up to the tee—then the group will adjourn to the clubhouse for some social time.

Date: Saturday, July 21
Info: Chapter program associate Jane Dunbar.

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It’s time to register for the early-bird rate for this year’s golf tournament Tuesday, Sept. 25. Friends, clients and staff are all welcome; you can register as a foursome or a single and we’ll pair you up. Last year we had a full field, so let’s do it again this time and make this a major fundraiser for our scholarship fund.

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Topic: The New Auditing Standards
Speakers: Diane Rubin, CPA, partner, Novogradac & Company LLP
Date: Tuesday, July 10
Time: Noon–2 p.m.
Location: Bankers Club (boardroom, 51st floor); 555 California St.; San Francisco
Cost: $40/members; $50/nonmembers ($45/members at the door)
CPE: 1.5 hours
RSVP: Online or contact program associate Jane Dunbar or (650) 802-2465.

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Topic: Taking a Business to China: Legal and Tax Implications
Speaker: Zhao Xia, attorney
Date: Thursday, July 19
Time: 8:30–9:30 a.m.
Location: 601 Montgomery St., Suite 405 (community conference room)
CPE: 1 hour
RSVP: Online or contact program associate Jane Dunbar or (650) 802-2465.

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Topic: Asset Allocation Models
Speaker: James Robinson, vice president, Private Client Group, Merrill Lynch
Date: Tuesday, July 24
Time: Noon–1:30 p.m.
Location: Embassy Suites; 101 McInnis Parkway; San Rafael
CPE: 1 hour
RSVP: Online or contact program associate Jane Dunbar or (650) 802-2465.

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This group will be meeting on the second and fourth Tuesdays of the month.

Date: Tuesday, July 10
Topic TBA
Time: 7:30–9 a.m.
Location: Le Brasserie Restaurant (Vineyard Creek Hotel); Santa Rosa
Cost: $18 (includes breakfast)

Date: Tuesday, July 24
Topic: Improving the Security of Your Office and Client Information
Time: 7:30–9 a.m.
Location: Le Brasserie Restaurant (Vineyard Creek Hotel); Santa Rosa
Cost: $18 (includes breakfast)
Info: Santa Rosa Discussion Group Chair Charles Mayfield

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The IRS has issued a warning about the latest ID theft scam: a phone call from someone claiming to be an officer of court, who states you failed to report for jury duty and a warrant has been issued for your arrest. When you say that you never received a summons, the caller asks for information for “verification purposes”—your Social Security number, date of birth and even credit card information—and to cancel the arrest warrant. This is when you should hang up the phone.

   As a rule, court officers never ask for confidential information over the phone; they generally correspond with prospective jurors via mail.

For more information, visit http://www.fbi.gov/page2/june06/jury_scams060206.htm.

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