2018 TSCPA Annual Meeting of MembersPosted: July 9, 2018
The Texas Society of CPAs (TSCPA) held its Annual Meeting of Members recently. In addition to taking care of important business, attendees got to hear from great speakers on several topics including fraud, leadership, being yourself, and changes impacting the profession. Membership declines continue, although at a reduced rate of one percent. Changes in membership are occurring, and it was noted that the TSCPA Board of Directors now has more members in their thirties than in their sixties. The Society is solid financially with strong reserves, although the CPE Foundation continues to show strains as the way CPAs obtain continuing education changes.
Two important task forces are beginning work including one on chapters and one on the TSCPA brand. The chapter task force will be focusing on integrating technology and leveraging resources among the chapters and the state; while the brand task force will be focusing on a unified approach including our visual identity, brand standards, and leveraging existing relationships with faculty to expand student and candidate outreach.
If you ever wondered how all that money donated to benevolent funds, political action committees (PACs) and the Accounting Education Foundation (AEF) is handled, you found out at the annual meeting. In addition to all the work TSCPA and chapters did to help members who suffered through Hurricane Harvey last year, the AICPA Benevolent Fund provided over $600,000 in support to members in Texas. The TSCPA CPA-PAC will spend over $400,000 in support of candidates in 2018; but as big as that number sounds, it dwarfs in comparison to many other PACs when you consider the TSCPA CPA-PAC was ranked 152 in campaign contributions in the 2016 election year. Finally, the AEF was able to raise money to set up a $75,000 scholarship fund to provide the Bob Owen scholarship to promising accounting students in perpetuity. Bob Owen was a great leader and contributor to the CPA profession in Texas for decades; and while he will be missed, he will also now always be remembered.
The meeting ended with a substantive question and answer session. Technology allowed attendees to submit questions online, and then other attendees could vote up the questions they felt were the most important and should be addressed. Questions about Peer Review, the PCAOB, getting information to members, and how to become more active in committees and task forces were addressed.
If you missed the annual meeting you missed a lot of great information. In future blogs I will provide you a little more information on topics a couple of our speakers addressed during the meeting.