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> Beginning In 2008, All CPA Firms Who Provide
Attest Services Must Be Enrolled In Peer Review
Are you aware
that Missouri Accountancy Law requires
that firms that provide attest, review, or compilation services must be
enrolled in an approved peer review program?
While the
requirement has been in effect for those providing three or more attest services
since 2004, the law will soon require any firm that provides even one of
these services to be enrolled in an approved practice-monitoring or peer
review program to ensure firm licensure. The law specifically states
that within 90 days after entering into an engagement, a firm must enroll in
the program.
To view
the specific language related to peer review in the Missouri Accountancy Act,
go to: http://www.sos.mo.gov/adrules/csr/current/20csr/20c2010-5.pdf
For more
information about Missouri’s
peer review program, go to: http://www.mocpa.org/Content/22292.aspx
To enroll
your firm, please complete the enrollment form: http://www.mocpa.org/content/files/documents/07enrollment.doc
_____________________________________________
> Annual LEAP Ambassador Chapter
Contest
It’s
time for the annual drive to recruit LEAP ambassadors! If you have an
interest in helping to promote the CPA profession to high school students,
this is the best volunteer program for you! You sign up for a high
school of your choice and MSCPA provides you presentation materials, fun
giveaways, and much more to help you present a dynamic presentation about the
profession to high school students.
This
year, MSCPA is encouraging chapters to recruit “near peer”
ambassadors, which are college students. Click here to find out more http://www.mocpa.org/Content/21118.aspx
The MSCPA
chapter that experiences the biggest increases in new LEAP ambassadors
between October 1 – November 15 will receive a $200 contribution made
in their name to the LEAP Scholarship Fund.
Help your
chapter win the competition, become a LEAP ambassador today!
http://www.mocpa.org/Content/21118.aspx
_____________________________________________
> FULFILL YOUR ETHICS REQUIREMENT!
It’s fast, simple, and
inexpensive!
Here’s your chance to purchase the self-study CD titled Missouri Ethics: Non-Attest Services, Integrity, and
Objectivity. Missouri CPAs are required to take two hours of
ethics CPE every year. This course will not only fulfill that requirement,
but it will also provide you with lively training on emerging and important
issues in professional ethics.
Special
MSCPA member price—only $65!
http://www.mocpa.org/Content/22302.aspx
_____________________________________________
> Join Your Fellow CPAs at the
Upcoming Small Firm Networking Roundtables!
Nearly 100 small firm practitioners from across the state have gathered
at the first three MSCPA Small Firm Networking Roundtables! These roundtables provide a forum for
participants to discuss pressing issues, such as staffing, collaboration
among firms, technology, and work-life balance.
REGISTER NOW for the upcoming
Small Firm Networking Roundtables!
Friday, November 9, 2007 in Springfield, MO
Friday, January 11, 2008 in St. Louis, MO
Wednesday, May 7, 2008 in Kansas City, MO
SPECIAL DEAL! REGISTER FOR ALL THREE ROUNDTABLES FOR ONLY $200!!
For more information, call Holly Moriarity at 800.264.7966.
_____________________________________________
> BACK BY POPULAR DEMAND!
Make A
Difference To Future CPAs!
MSCPA is
proud to announce a new pilot program in St. Louis
with Junior Achievement.
This new partnership with Junior Achievement offers CPAs a chance to
present a special accounting curriculum for high school students. To prepare
you for presenting the curriculum, CPA volunteers are asked to attend a one-time, two-hour training session, which will be
held in the MSCPA
Learning Center
on Tuesday, October 2, 2007. There will
be a session in the morning from 8:00-10:00 a.m. and an afternoon session
from 2:00-4:00
p.m.
In
August, 40 CPAs participated in the first training event and all are off and
running with the program. For
those who were not able to participate in the training session in August, the
October 2 date has been set just for you!
http://www.mocpa.org/Content/22558.aspx
_____________________________________________
>
Missouri State Board Of Accountancy Seeks Nominations For James T. Mudd Award
The
Missouri State Board of Accountancy is seeking nominations of candidates for
the James T. Mudd award. This award is presented annually to a Missouri citizen who
through legislation, education, or public service, demonstrated those
qualities Mr. Mudd held while advancing the CPA profession. Formal presentation of this award will
be held in January of 2008.
http://www.pr.mo.gov/boards/accountancy/Nomination%20Form.pdf
_____________________________________________
> IMPORTANT INFORMATION FOR MISSOURI
CPAS!
Missouri Health Insurance Portability and Accountability Act
Last
month, the Missouri Health Insurance Portability and Accountability Act was
enacted by the state of Missouri.
The law repealed various sections of the Missouri statute and created 49 new
sections relating to health insurance.
A major
change is found in section 376.453.1 states that an employer that provides
health insurance coverage for which any portion of the premium is payable by
the employer cannot furnish the coverage unless the employer has established
a premium-only cafeteria plan as permitted under section 125 of the Internal
Revenue Code. The new law does
not apply to employers who offer health insurance through any self-insured or
self-funded group health plan of any type or description.
The law
is effective January
1, 2008. Employers who already have a section 125 plan in effect
or do not have one and will have to do so because of the state law change
should follow the rules in Prop Reg 1.125-1 for establishing cafeteria plans.
http://www.house.mo.gov/bills071/bills/hb818.htm
_____________________________________________
> Treasury, IRS Extend Documentation Deadline for
409A Compliance
The Treasury Department
and the IRS announced that taxpayers will have until Dec. 31, 2008, to bring
documents into compliance with the final nonqualified deferred compensation
regulations under section 409A of the
Internal Revenue Code.
http://www.irs.gov/newsroom/article/0,,id=173791,00.html
_____________________________________________
> Accounting
Firms Among Best Places to Launch a Career
Accounting
firms dominate BusinessWeek's second annual ranking of the "Best Places
to Launch a Career."
http://accounting.smartpros.com/x59101.xml
_____________________________________________
> Deloitte Recruits Gen Y With Short Films
Deloitte
& Touche USA LLP recently launched the first-ever Deloitte Film Festival,
a new approach to leveraging employee-generated content to bolster Gen Y
recruiting activities and drive workforce engagement.
http://accounting.smartpros.com/x59064.xml
_____________________________________________
> Mortgage
Jobs Moving to Accounting
WebCPA
reports that job cuts in the mortgage industry are prompting many workers to
turn to the accounting industry for work, according to one staffing company.
http://www.webcpa.com/article.cfm?articleid=25323
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Technology & Productivity Weekly is a
membership benefit and is
intended for your personal use only.
This Week's Headlines
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Your Small Office Ready to Ditch 'Office'?
Don't
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Keep
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CPE 2007
For CPAs in
Public Practice
All courses are 8 CPE hours unless
otherwise noted.
Seminars:
AICPA’s Annual Business Law
Update
October
23, 2007—St. Louis
Advanced Planning for LLC &
Partnership Transactions
October
24, 2007—Columbia
Advanced
Update for Compilation, Review & Accounting Services
November
9, 2007—St. Louis
Real World
Business Ethics: How Will You React?
October
24, 2007—St. Louis
AICPA's
Federal Tax Update
October
25, 2007—Columbia
FASB/APB
Update & Review
October
25, 2007—Kansas City
October
29, 2007—St. Louis
The Top 50
Bloopers & Blunders & How to Fix Them: Individual Tax & Financial
Planning
October
25, 2007—St. Louis
Comparing
& Contrasting the Tax Aspects of S Corporations, Partnerships,
Corporations, Sole Proprietorships, & Limited Liability Co.
October
26, 2007—St. Louis
Surgent McCoy's
Comprehensive Guide to Tax Depreciation, Amortization & Property
Transactions from Acquisition to Exchange or Disp.
October
29, 2007—St. Louis
MSCPA Fall
Tax Institute
October
30, 2007—Columbia
Surgent
McCoy's Advanced Individual Income Tax Return Issues
October
30, 2007—St. Louis
Sales
& Use Tax: Guide to Doing it Right
October
31, 2007—Kansas City
The Top 50
Business Tax Bloopers & Blunders & How to Fix Them
October
31, 2007—St. Louis
Annual
Update for Accountants & Auditors
November
5, 2007—Kansas City
Not-for-Profit
Conference
November
5, 2007—St. Louis
Surgent
McCoy's Advanced Critical Tax Issues for Limited Liability
Companies & Partnerships
November
5, 2007—St. Louis
October
29, 2007—Kansas City
Revenue Recognition
in Today's Business Climate
November
5, 2007—Kansas City
Surgent
McCoy's Advanced Critical Tax Issues for S Corporations
November
6, 2007—St. Louis
October
30, 2007—Kansas City
Making
Rain--Strategies for Client Service, Selling & Negotiating
November
7, 2007—Columbia
Applying
A-133 to Nonprofit & Governmental Organizations
November
7, 2007—Kansas City
Accounting
Services, Compilations & Reviews: Solving the Documentation Riddle
November
8, 2007—St. Louis
AICPA's
Individual & Corporate Income Tax Workshop by Sid Kess
-- One-Day Update Version
November
1, 2007—Kansas City
November
8, 2007—Cape Girardeau
Benchmarking
Strategies--A Tool for Profit Improvement
November
1, 2007—Springfield
General
Ethics Review (3-5 p.m.)
November
2, 2007—Cape Girardeau
Managing
the Controllership Function in the Smaller Business
November
2, 2007—Springfield
S
Corporations: The Ins & Outs of Tax Reporting & Planning
November
7, 2007—St. Louis
Compilation
& Review Engagement Essentials
November
7, 2007—Springfield
Not-for-Profit
Accounting & Reporting -- From Start to Finish
November
8, 2007—Kansas City
Conferences:
Sales
& Use Tax Conference
November 2, 2007—St. Louis
Registration
November 15, 2007—Kansas City
Registration
November 16, 2007—Springfield
Registration
_____________________________
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LAST CHANCE CLASSES!
This
is your last chance to attend these innovative courses
Cost
Allocation in Nonprofits - Who Gets it?
October
24, 2007—St. Louis
Construction Contractors: Special
Tax & Accounting Considerations
October
25, 2007—St. Louis
October
26, 2007—Kansas City
Advanced Accounting &
Auditing Problems for NPOs
October
25, 2007—St. Louis
Fiduciary Income Tax Returns--Form
1041 Workshop
October
27, 2007—Kansas City
Surgent McCoy's Limited
Liability Company & Partnership Tax Return Preparation Workshop
October
27, 2007—Springfield
Within the Red Zone of Your
Retirement: Tax Planning Strategies for Getting to the Goal Line Without
Fumbling
October
28, 2007—Springfield
Social Security, Medicare, and
Prescription Drug Retirement Benefits: What Every Baby Boomer Needs to Know
Now
October
28, 2007—Kansas City
AMT
(Alternative Minimum Tax)
November
1, 2007—St. Louis
Surgent McCoy's Audit Workshop:
Best Practices for Audits in Compliance with Government Auditing Standards
& OMB Circular A-133
November
1, 2007—Kansas City
Surgent McCoy's Audit Workshop:
Best Practices in Planning & Designing a High-Quality & Profitable
Audit (AWPD-K)
November
2, 2007—Kansas City
Don’t Miss Out!
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________________________________
Technology Tip of the Week
Provided
by the MSCPA Information Technology Committee
In
Excel, Creating
an
Organization Chart
One of
the tools available in Excel is the ability to create organization charts.
You do this by just choosing Diagram from the Insert menu.
More...
To view
recently archived issues of "Technology Tip of the Week," go to: http://www.mocpa.org/Content/22269.aspx
________________________________
Contact Us
For comments or
questions, contact:
Dawn Martin - dmartin@mocpa.org
To view online:
http://www.mocpa.org/Content/files/
newsletters/2007/news091807.html
For technical assistance, contact:
Christy
Aven -caven@mocpa.org
To
update your e-mail address:
Please include your old
e-mail address,
new e-mail address and MSCPA
member ID (if known) and send it to member@mocpa.org.
Please note: This newsletter may contain
commercial material.
Missouri Society of CPAs
540 Maryville Centre Drive, Suite
200
St. Louis, MO
63141
©
2007 Missouri Society of
Certified Public Accountants - All Rights Reserved
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