The Ohio Society Celebrates its Centennial
The Ohio Society of CPAs has changed with the times.
In 2008, The Society celebrates its Centennial anniversary with an eye to the future of this profession. Now the fourth largest state CPA society in the nation, The Ohio Society’s membership has grown from 70 members (all male) to nearly 24,000 diverse accounting professionals.
The Society’s current and future activities are guided by its member-developed strategic plan and vision statement:
The Ohio Society of CPAs is focused on positioning its members to be trusted professionals at the forefront of a changing and complex world.
Throughout its history, the Society has continually transformed and evolved for the benefit of its members, the accounting profession and the business community. As there was need, the Society has provided information, programming, services, resources and staff support. In addition to being responsive, however, the Society has always been a leader on local, state and national levels. The Society is focused on helping members improve the quality of accounting practices and the services and value CPAs provide through a wide range of high-quality education and training programs. In the role of advocate—with the legislature, regulatory agencies, the general public and other important audiences—the Society builds credibility and visibility for CPAs and the accounting profession and ensures that members’ interests are protected. Through peer review and self-regulation activities, the Society reinforces high standards of practice. And by advocating for a positive accounting work environment, the Society helps the profession become even more appealing to students and others considering an accounting career.
The Society primarily exists to help members be successful in their professional careers. Through its activities and programs, the Society continually underscores the importance of all members adhering to the highest standards of professional behavior and upholding such core values and competencies as: quality, integrity, objectivity, continuous and lifelong learning, and attunement to broad business issues.
As the Society and the accounting profession embark on the next 100 years, CPAs will continue to be in the spotlight due to the important—and in many cases, high-profile—services they provide. In an environment where solutions to perceived problems often take the form of regulatory or legislative mandates, the Society will continue to serve as the steadfast representative for Ohio CPAs. By fostering cooperative and collegial relationships, Society staff and members effectively reach out to the Ohio General Assembly, the Accountancy Board of Ohio and other regulatory bodies. In future years, these relationships will continue to strengthen and maintain the Society’s position as the credible source of information and the most reliable resource on issues affecting CPAs.
Another key area of emphasis both now and in the future is helping members remain current on the technological skills necessary for success locally, nationally and globally. Simply knowing how to use software products to achieve production/operational efficiencies is not enough to ensure success. CPAs must be extremely adept at recognizing and interpreting trends and assisting their employers and clients in leveraging technology within their businesses. Therefore, the Society will continue to monitor advancements in technology and identify those that are important to members. The Society itself will expand Web-based communications, education, training and member services. The new Society Web site allows members to customize the news they see based on their unique interests. In the future, members will be able to connect with fellow members on the site, find answers to their questions—even find opportunities to volunteer in their communities.
Peer review has become a hallmark of the profession and will continue to be so in the future. Not only does peer review limit the need for increased government involvement in regulating the CPA profession, it also helps ensure that CPA firms provide high-quality attest services. Since mandatory peer review was approved, the accounting profession has evolved to meet changing needs and regulatory requirements for increased accountability and transparency. Likewise, peer review reports need to be more usable and transparent. In support of this, The Ohio Society is currently participating in a pilot project with AICPA to make peer review information accessible to State Boards of Accountancy. This response to market and regulatory demands will help ensure excellence in the profession now and well into the future.
Today’s employment market is highly competitive and challenging. Those who employ CPAs wrestle with issues ranging from job sharing, to work/life balance, flexible hours and telecommuting as well as how to provide innovative benefits packages to attract and retain top employees. The demand for CPAs is expected to grow as greater regulation increases reporting requirements and the wave of retiring Baby Boomers leaves gaps in the workforce.
The Society is developing programs that address unique, emerging issues associated with CPA employment along with a work/life balance study to identify best practices among employers of CPAs. Results of this study will be shared with members along with case study examples intended to inspire idea sharing and innovation among employers of CPAs. Who knows how the accounting office of the future may operate? As the competition for skilled CPAs increases, enticements such as flexible work schedules, telecommuting, higher salaries, bonuses, travel perks and concierge services may be routine one day.
Created more than 50 years ago as The Ohio Society of CPAs Educational Foundation to provide scholarships, The Ohio CPA Foundation was recently renamed to reflect an expanded scope of programs that are inline with the needs of the profession. Today, The Ohio CPA Foundation funds programs that drive awareness for the CPA career path among students as young as elementary school as well as encourage Ohio citizens to be more fiscally responsible.
A centerpiece of the Foundation’s student outreach is the Student Ambassador program, in which upper-class accounting majors on 12 university campuses statewide work with undecided students to encourage them to consider an accounting degree. Through peer-to-peer counseling, meetings, special events and speaking engagements, the Ambassadors dispel misconceptions about the CPA profession and share information and resources to help students make better-informed decisions. Future plans call for expanding the program to more university campuses.
In addition, the Society seeks to drive ethnic, cultural and gender diversity in the profession. One way is through the Accounting Careers Awareness Program (ACAP-Ohio) presented by The Ohio CPA Foundation and the Ohio chapters of the National Association of Black Accountants (NABA). ACAP-Ohio’s goal is to help diversify the accounting profession by encouraging minority high school students to pursue careers in accounting, and more specifically, careers as a CPA. During the week-long summer program, students participate in workshops and corporate tours and are mentored by successful minority business professionals. In the future, ACAP and programs like it may be expanded to reach even more high school students on the verge of entering college.
As in the past, Society and Foundation sponsored accounting scholarships provide financial support for the accounting professionals of tomorrow.
The Ohio Society is uniquely positioned to remain in the forefront among organizations sharing their knowledge and insights on financial and business matters for the public good. Through service on the Ohio Commission on Personal Finance Education, the Society provides non-commercial advice and counsel on high school financial literacy initiatives. The state of Ohio has mandated that financial literacy be included in the public high school curriculum by the year 2010. This visionary program will help millions of young Ohioans develop greater understanding of how to manage their finances now and into the future. This work is part of the Society’s long-standing commitment to support financial literacy in schools and with the general public. It affirms this commitment through Financial Fitness Ohio—a series of programs funded by The Ohio CPA Foundation that teach Ohio citizens how to set personal financial goals and employ smart money management strategies to reach them.
Each November, the Foundation presents the highly acclaimed Accounting for Kids® Day program, which teaches children that managing money can be fun. In 2007, more than 1,200 volunteers visited 430 fourth through sixth grade classrooms statewide (an increase of 7.5%) reaching approximately 10,750 students.
During Financial Fitness Ohio College Days, CPAs visit campuses to talk with students about how to manage their money, avoid credit card debt and save for the future—important skills they will use in their careers and throughout their adult lives.
To reach beyond the schools, the Society and the Foundation distribute money management tips for people in all ages and stages of life through FinancialFitnessOhio.com and Ohio Society members often make presentations to community groups on topics ranging from creating and managing a budget to saving for college and planning for retirement. Each year through Operation CPA, members provide free tax preparation services to families of deployed military service men and women.
The Centennial campaign ensures the Foundation can continue to carry out its mission of building awareness for the CPA career and help Ohioans live more financially secure lives. It also gives members an opportunity to make a personal investment in the future of the CPA profession.
Members have learned to trust the Society to bring them news and information, as well as perspective, on topics likely to have an immediate or longer term impact on the accounting profession. Currently, the Society is actively engaged on the mobility issue—serving as an advisor to AICPA and other states in establishing standards that will allow CPAs to practice across state lines without registering or paying fees to do so. In addition, through research and meetings with international accounting leaders, the Society is gathering information on the potential establishment of international accounting standards. On the horizon, we will bring members the latest information on best practices in work/life balance, changes in accounting education, the impact of the departing Baby Boomers, and the broadening scope of services provided by CPAs and new directions in the role of the CFO—and much, much more.
Going forward, the Society will continue its deep commitment to advancing the CPA profession in Ohio and fostering the professional success of its members. The Society will identify and develop areas of service that are rewarding to the membership, meaningful to the public, and beneficial to the greater business community for the next 100 years and beyond. Accounting may finally be considered sexy, but beauty is only skin deep. By demonstrating integrity, objectivity and independence, along with solid leadership, the accounting profession will not only stand the test of time but continue to be identified as one of the great career choices for the next 100 years.