In This Section


INDIANA CPA SOCIETY
YEAR IN REVIEW – 2012



Membership
Total membership as of December 31, 2012, was 8,073. In line with the strategic plan we continually strive to grow the INCPAS membership and increase members’ competency. This year, special efforts were made by the Society to work closely with the Indiana Professional Licensing Agency and encourage CPA members to maintain an Active CPA license. In February of 2012, the Indiana Board of Accountancy launched the License Compliance Initiative after collaboration efforts with Society staff. Nearly 400 Indiana CPA Society members qualified for this compliance program, 3,690 CPAs in total qualified. Over half of the eligible members took advantage of this one-time program and came back into compliance. Additionally, 2012 was a normal license renewal year. The Society launched an extensive campaign to ensure members renewed. These programs all served to uphold the integrity of the profession and enhance the value of the CPA designation statewide..

The Society also continued its efforts to recruit new and soon-to-be CPAs to the Society as a means of filling the professional pipeline for the profession. Young Pros Parties, launched in 2009, continued with much vigor and success. New professionals were encouraged to attend, regardless of their membership status.  These events are a fun way to get current members more engaged while also reaching out and showing the potential of the profession and the Society to nonmembers.

Professional Development
We started the reporting cycle with an aggressive budget for our seminars and conferences. In the summer we see strong attendance with our A&A and Ethics updates in 12 locations around the state; however, they were down slightly this year. Seminar attendance was strong through August and September but fell under budget in the fall months.  We heard that the October 15 deadline hit even harder this year keeping people busy and in the office well into November. For the first time, and at the request of members, we wrapped up the first year of the reporting cycle with pared down version of Winter Frenzy, where we offered 16 4-hour courses in two days.  This event drew nearly 600 registrations!  All in all we ended the year pretty strongly with just fewer than 7,500 registrations.  Though this was under our calendar year budget, we still achieved over 3% growth from 2009 (previous first year in reporting cycle). 

Following suit of the seminars, conferences came in lower than budget as well.  In 2012, the average conference size was 151—this is two fewer than 2009. The largest of the 10 INCPAS conferences held were the A&A and NFP conferences with 172 and 270 attendees respectively.   Additionally, we ran the Construction Conference in partnership with CFMA in early November and attracted over 80 construction industry CPAs and controllers. 

In August and September, INCPAS President & CEO, Gary Bolinger, CAE again presented a series of Professional Issues Updates for CPAs throughout Indiana. This year he added a last minute Professional Issues Update in December as well. All in all Gary led 17 programs in 13 cities and reached over 2,100 members this year!  These 4-hour presentations, which are complimentary for members, help members keep up with professional and societal trends that have an impact on Indiana CPAs.
In addition to the traditional classroom and conference setting, we continued to partner with various webinar providers to expand our webinar offerings.  Our attendance continues to grow in this arena as members become more familiar with virtual classrooms.  

Leadership Cabinet/ Emerging Leaders Alliance
Leadership Cabinet is a member advisory group that meets twice a year with the Society’s board of directors and Emerging Leaders Alliance to learn about, discuss and provide input on key professional and Society issues.  Established in 1999, LC is a demographic snapshot of the Society’s membership with 77 members serving during the 2012-13 term.  There are sixteen members serving their first term on LC.   Members are appointed to one-year terms with the potential to be reappointed by the board in future years.

The Emerging Leaders Alliance was created in April 2005 to complement Leadership Cabinet. This select group of young leaders is made up of members with seven years or less of experience.  Currently, there are 33 members.   Fifteen new members are serving their first term in 2012-13. ELA meets with Leadership Cabinet and the board twice annually. 

One emerging leaders alliance and four leadership cabinet members serve as the Leadership Advisory Council.  Through governance and leadership trainings coupled with past board member mentors, LAC members serve as the primary pool for board of director candidates.  Since the first group of council members were appointed in 2010 four have been selected to serve on the board of directors.

During the 2012-13 term, LC and ELA are focusing on knowledge management,  integrated reporting, future of competency and hyperspecialization; areas identified by INCPAS Board task forces for the Society’s strategic plan. 

Project Teams
Fifty-seven members participated on nine project teams in 2012, including case study competition, business & industry, financial services, fraud, and not-for-profit conferences, diversity programs and the tax institute. 

Committees
The Society had two standing committees in 2012 – peer review and ethics. A total of 34 members participated.

Advisory Councils
The nine-member Government Relations Advisory Council includes one new member for 2012-13 term.  The group works to uphold the integrity of the profession by monitoring and facilitating issues resolution through the Society’s relationship with the Board of Accountancy,  Professional Licensing Agency and elected officials.

The Society works closely with the Board of Accountancy and Indiana Professional Licensing Agency to educate and provide outreach to members about license issues. The License Compliance Initiative helped 587 licensees with an expired status since 2000 come into compliance through a streamlined reactivation process.  The Society also had a major communication effort with members to ensure they were aware of requirements for license renewal in 2012.

For the second time, 25 Society members were appointed by the board of accountancy to assist the agency in completing the CPE audit following the renewal.  This enabled the agency to efficiently audit 956 licensees in 2012.

The Board of Accountancy established a new rule to implement legislation signed into law during the 2012 General Session. Other rulemaking issues involve changing the CPE rule to eliminate the clause that allows licensees to make-up CPE after the 12/31 deadline.

During the 2012 legislative session the Society successfully worked with the legislature to pass SB330 which allows the board of accountancy or the executive director of the licensing agency on the board’s behalf to adopt an emergency rule that incorporates professional standards by reference.  

The Society also monitored a number of bills including bills related to tax administration and state fiscal matters which are generally monitored closely by the fourteen-member Tax Resource Advisory Council.  The Council is responsible for issues resolution with state and federal tax-related entities.  

Having a new commissioner heading up the Indiana Department of Revenue allowed an opportunity to address top member issues with the department.  TRAC members met regularly with department staff seeking improvements and progress for issues like: online filing for corporate returns, communication with practitioners and taxpayers, and non- resident withholding issues. TRAC members also attended the DOR’s Annual Public Hearing with chair, Jeff McGowan providing public comments.  

On a federal level, changes within the IRS meant Indiana no longer had a stakeholder liaison based in the state.  TRAC established relationships with new representatives based in Ohio and Michigan and participated in IRS Practitioners Liaison meetings.  Members also attended AICPA and IRS meetings and served as a resource for legislators and staff related to tax issues in Indiana.

CPA Branding
The Society continued implementing a goal in its strategic plan in 2012 by promoting the advantages of being an INCPAS member.  Ads were placed in BizVoice magazine and the Indianapolis Business Journal.  Total advertising dollars spent in FY 2012 was $15,760.

The Society again partnered with the Indianapolis Business Journal on the fifth annual CFO of the Year awards that were voted on in the fall and presented at a breakfast on November 28 with more than 300 attending.  The Society was an Underwriting sponsor for the third consecutive year in 2012 and assisted the IBJ with promoting award nominations to its members. 

Another major branding initiative was the 10th annual CPA Day of Service on September 21. More than 450 CPAs and staff participated at over 30 volunteer projects in 20 cities around the state. Media coverage was achieved in many cities and counties.

The Society also continued to participate in the AICPA CPA Ambassador Program. The total number of trained Ambassadors in Indiana is 43. The Society continues to pursue speaking engagements and media interview opportunities for Ambassadors with Indiana media.

Publicity
In 2012, press releases were sent out to newspapers, business journals/magazines, and radio and television stations on the local, statewide and national level (depending on topic and desired reach) to promote the Society, INCPAS staff and members, and the CPA profession. Press release topics included the Society’s diversity initiatives, INCPAS Student Survey results, the Society’s new blog, CPA Celebration and award winners, Case Study winners, Outstanding Accounting Majors, Professional Issues Updates, CPA Day of Service participants, Case Study Competition winners, INCPAS new hires and promotions, and INCPAS Best Places to Work recognition, The Advertising Value Equivalency (AVE) for 2012 for media coverage gained equaled $52,235.62. Along with traditional press releases, social media press releases were sent via PitchEngine to extend the reach to the media, INCPAS members and the public. On average, there were 500 views per release. 

Sponsorships
The Society continued to offer a platinum, gold and silver sponsorship levels in 2012 along with special sponsorship categories for CPA Celebration. Total sponsorship revenue for the year was $31,077.50.  In addition, the Society offered a sponsorship opportunity for its diversity programming for the second straight year and generated $39,500.

Platinum (title) sponsors included The National Bank of Indianapolis for the Controllers and Not-for-Profit conferences, and the fall LC/ELA meeting; Becker Professional Review for the Educators Conference; and City Securities Corporation for the Financial Services Conference.  The National Bank of Indianapolis was also the presenting sponsor of CPA Celebration. 

In addition to the platinum and presenting sponsors, 2012 featured a mix of returning and new sponsors.  Returning sponsors included Accounting Practice Sales, College Choice 529, Ebbinghouse Law Group, Hylant Group, CCH a Wolters Kluwer business, IU Kelley School of Business Indianapolis, PrimePay, Robert Half International, Thomson Reuters, Thomson Reuters Tax & Accounting, and Walker & Associates Insurance/CAMICO.  New sponsors included Leaf Software Solutions, Tower Bank and Xact Data Discovery.

Diversity sponsors included PricewaterhouseCoopers LLP, KPMG LLP, Deloitte LLP, BKD, LLP, Crowe Horwath LLP, Ernst & Young LLP, CliftonLarsonAllen LLP, Eli Lilly & Co., Engaging Solutions, LLC, and Kruggel, Lawton & Company, LLC among firms and companies.  University sponsors were Indiana University, Butler University, Ball State University, the Purdue University, the University of Notre Dame, Indiana State University, Indiana Wesleyan University, Martin University, and the University of Indianapolis.

Student Initiatives
The Society continued its presence on college campuses by attending Beta Alpha Psi, accounting club and classroom meetings. In 2012, INCPAS staff and young professionals gave 20 presentations discussing the value of the CPA designation with 583 students.

INCPAS continued the High School Ambassador program. Currently there are 27 members serving as High School Ambassadors.

Electronic Communications 
The Society’s electronic newsletter, CPA ePerspective: The Link to Your Lifelong Professional Home, blends profession and Society new items with listings of upcoming INCPAS seminars, conferences and special events. CPA ePerspective averaged 1,764 unique opens per issue or a 29 percent open rate. The e-news averaged 546 unique clickthroughs each issue.

Information Technology 
The member database (Avectra netForum Enterprise) used to maintain information about not only members, but also class registrations, donations, committees and more, was upgraded in the first half of 2012. The upgrade provided INCPAS staff members with new or improved functionality and processes better serve and assist members. 

In addition to the netForum upgrade, an upgrade of both hardware and software was made to the financial application, Great Plains. This software enables INCPAS to maintain accounts receivables and payables as well as other accounting functions. The upgrade was made in order to maintain hardware service level agreements as well as to take advantage of improvements made to Great Plains overall.

Website
2012 was the year of website redesign. Working with a web design/development firm out of Chicago, 10 INCPAS staff members formed a Web Team. The Team was responsible for developing the website as a tool and resource for INCPAS members first and foremost. Interviews with INCPAS members helped the Chicago firm develop personas and make recommendations about the visual and informational design of the website. On December 19, the website was launched with a new look and a focus on providing easy access to individual member information class searches.  

Social Media
The Society is continually updating its social media strategy to better leverage social media and other relevant emerging technologies to benefit members. In July 2012, we launched the INCPAS “I Was Just Thinkin’ …” blog. In August 2012, we launched two “Connect with Us and Win!” social media contests (one online-only and the other in person at INCPAS events) to promote our social media efforts and engage our members. The contest helped to increase the number of subscribers to our INCPAS social media channels. There was a total of 2,938 attendees at the events where the contest was held (PIUs, conferences, LC/ELA meeting, classes) and 850 participated in the contest with a total of 1,437 entries (many subscribed to one or more of the following: I Was Just Thinkin’ blog, INCPAS LinkedIn Group, INCPAS YouTube Channel). The online Connect with Us and Win Contest was not as successful with only a handful of valid entries. By the end of 2012, the number of subscribers to the blog grew to 913.  The INCPAS group on LinkedIn increased from 811 members in 2011 to 1,344 in 2012. An INCPAS subgroup for nonprofits was launched in 2012 and currently has 68 members. In 2012, the INCPAS page on Facebook had 721 with an increase in engagement (more “Likes”, “Shares” and comments on posts.). The INCPAS Student page has increased its fan base to 158 in 2012. By the end of 2012, our INCPAS YouTube channel received 5,633 video views and had 84 subscribers. We posted 22 videos featuring staff and INCPAS members on a variety of topics of interest to CPA professionals and INCPAS members.

Case Study Competition
In October and November, the Society held its 13th case study competition. Indiana colleges with accounting departments were invited, and 10 schools submitted written cases for this year’s competition. Teams offered recommendations due diligence surrounding the potential acquisition of a company. Once prepared, the written portion of the case was reviewed and judged and the top six teams – announced as finalists – were required to give an oral presentation to a panel of judges in an effort to support their written report statement. Teams delivered a presentation to a panel of judges who served as partners at the fictitious firm. 

Thirteen firms and companies plus INCPAS members contributed a total of $8,350 for this year’s competition. Manchester University, Saint Mary's College and University of Southern Indiana, respectively, won first, second and third place and cash prizes of $750, $500 and $375 per student.  Honorable mention teams included Indiana University-Purdue University Indianapolis, Purdue University and Valparaiso University, with each team member receiving $100. The oral presentations coincided with CPA Celebration on Nov. 16 so finalists and winners could be recognized.

Diversity
The second INCPAS Diversity Summit was held Aug. 9 at the Marriott in downtown Indianapolis.  The Diversity Advisory Council organized the event to address diversity awareness and outreach efforts in the CPA profession.  One hundred and nine people registered for the Summit, 10 outstanding accounting students received scholarships and 15 INCPAS Scholars were also recognized. 

This year, the Society concluded its first year of the INCPAS Scholars program and welcomed 20 new Scholars into the program. The Scholars program is a year-long career awareness and mentorship program largely supported by Indiana CPA firms and businesses that employ CPAs.  Scholars are provided with continued mentorship and leadership opportunities and will become familiar with career opportunities as a CPA as well as will be encouraged to complete their high school education and pursue a college degree. Twenty candidates were selected from Indiana high schools. These students represent 9 different high schools and are juniors and seniors.

On Oct. 5, 110, Marion County high school students registered for Game On: CPAs in Action, held at the Hilton in downtown Indianapolis. Students heard from a panel of young CPAs, learned business etiquette, went on firm tours and participated in a forensic accounting case study.

This year, firms and businesses were again given the option to support all of the Society’s diversity initiatives for one sponsorship fee. Ultimately, $39,500 was raised.  See the sponsorship section for a list of the firms, companies and colleges/universities who supported the Society’s diversity programming.

Financial Update
The financial statements for the fiscal year ending June 30, 2012, showed an increase in net assets of just more than $25,000.  Fiscal year 2013’s financial forecast expects a modest increase in net assets for the year. Audited financial statements are available on the member section of the Society web site or by contacting Jenny Norris, CPA, CGMA, vice president – finance at (317) 726-5021 or jnorris@incpas.org. 

Peer Review
The peer review committee processed 267 peer reviews during 2012 under the AICPA practice-monitoring program.  Twelve additional firms enrolled in the program during 2011 and will be administered during 2013-14.  The Peer Review Committee along with Technical Reviewers continue to develop the concept of a Peer Reviewer Mentoring Program in order to aid in successful performances for new reviewers. Three new peer reviewers attended the continuing professional education for peer review in August 2012 and have been matched with an INCPAS Peer Review Committee Member/Peer Reviewer to begin the process of the Peer Reviewer Mentoring Program. The Indiana Board of Accountancy has appointed Cynthia Peck, CPA, Tony Smith, CPA and Alan Parks, CPA to the Peer Review Oversight Committee. The Indiana Board of Accountancy Peer Review Oversight Committee received two failed peer review reports to review in accordance with IC 25-2.1-9-4. 

Ethics
The ethics committee opened four new cases in 2012 and had nine open cases continue from 2011.  The committee received five written complaints and one case came to the committee via the AICPA.   Of the written complaints, two were not members of INCPAS, so those were forwarded to AICPA for investigation.  The AICPA opened two new cases related to INCPAS members.  Two members were suspended and one member was terminated.  Three cases were closed with a letter of no violation and two cases ended with a letter of required corrective action.  One case ended in a settlement agreement that included suspension and required corrective action and one case is awaiting a Trial Board hearing.  One case is on deferral due to litigation.  Cases investigated in 2012 involved tax preparation and filing, conflicts of interest, removing client records from firm, mishandling client funds and other acts discreditable.  Committee members also fielded a number of calls from the public and members with questions about potential violations. Several committee members wrote ethics related articles for the Society’s magazine.

CPA Celebration
Held at the Indiana Roof Ballroom on November 16, the theme this year was 1920s Carnivale, and 624 guests attended.  The Society handed out 12 awards, celebrated the Case Study winners, and recognized 91 successful Exam candidates.  The evening’s entertainment featured themed music, physics, and a magician.  Following the awards presentation, attendees had the opportunity to try their hand at gaming tables for a chance to win door prizes.  An after-party exclusive to Successful Exam Candidates and their guests was held at Rock Bottom Brewery.

Affiliates
INCPAS now has 215 affiliates in four categories (paraprofessional, firm administrator, non-CPA accounting professional, other business professional). Affiliates receive news and information affecting the profession, member rates to attend INCPAS events, and sponsorship and advertising opportunities. Affiliates gain the most benefit when they participate in Society events and actively engage CPA members. 

Member Benefits

Insurance – CAMICO, created by CPAs for CPAs, offers professional liability insurance coverage and a risk management program for members. They also serve as a resource for members at various INCPAS conferences. Additionally, INCPAS members may take advantage of insurance and benefit plans through Hylant Group including medical, group term, life, office property/liability, auto and homeowners, and disability.  

Room Rentals – Professional and comfortable meeting space is available for rental to members at a discount. INCPAS classrooms, conference rooms, and board room are available for rent to members at a discounted rate. The INCPAS office includes two classrooms that seat 40 each, a conference room that seats 16, and a board room that seats 24. Audio and video capabilities include ceiling mounted projectors, electronically retractable screens, internet access, and VCR and PowerPoint digital feeds. 

Career Center – The INCPAS Career Center gives job seekers and employers in Indiana an exciting and affordable employment resource. Job seekers benefit from confidential resume postings, job search controls, and an easy application process. Employers now enjoy several new benefits too, which include unmatched exposure, easy online job management, resume database access, and valuable members-only discounts.


Networking – A variety of networking events were held for members and non-members in 2012. We enjoyed great weather at the Indianapolis Indians game in August, and we also continued our series of networking events aimed at our new and soon-to-be CPAs throughout the state. The Young Pros Parties and Forums held in Indianapolis and Fort Wayne reached over 135 young professionals – more events are being planned for the coming year.


Find a CPA – 260 firms have subscribed to our popular Find a CPA service at incpas.org. With a free listing or a premium option, this service provides a convenient and affordable way for local firms to get their name in front of potential clients. As a trusted referral source, the Society receives several calls a year for CPA referrals. These inquiries are directed to Find a CPA. 


CPA to CPA Consultation – Nearly 200 members are now signed up for this consultation service created in 2007 to allow members to connect, interact and network with peers. Members who have technical or professional questions regarding client or practical problems can participate in the CPA to CPA Consultation Program. Provided at no charge, this program is designed to put members in touch with a peer-to-peer network in order to receive limited advice or counsel in a particular area of accounting. All services are entirely confidential and members who participate have provided great testimonials about the power of CPA to CPA as a networking tool.


INCPAS
Advertisers





Accounting Sales Practice