Sean Keenan 2006-2007 MACPA Chair of the Board

In the words of E*Trade boss Mitchell Caplan, “To succeed as a team is to hold all of the members accountable for their expertise.”

As I begin my year as Chair of the MACPA, I recognize and value the opportunity we have as CPAs to contribute our individual and collective expertise to the success of our profession. Further, we have both the opportunity – and the obligation – to use that expertise for the benefit of the communities in which we live.

The MACPA has always been an organization that has built bridges within the community – look at our long history with Junior Achievement and the Accounting Aid Society. More recently, we’ve partnered with Hospice of Michigan to create a resource guide for families struggling with end-of-life financial questions.

This innovative partnership reflects the passion and dedication of our members, and is a great example of synergy between two distinct organizations. On September 28, the resource guide will be available online to all members. Read this article for more information.

The MACPA is reaching out to share the expertise of members in other ways, too. For example, as the Dec. 31, 2007 repeal of the Single Business Tax approaches, the debate on replacement options is certain to intensify, especially after the November election. Lawmakers will be able to tap into our Business Tax Restructuring Subcommittee, which has been staying on top of the issue, reviewing and analyzing options to SBT.

The MACPA is also working hard to educate members about the recent changes in Michigan's Accountancy law. The reforms in the law strengthen our profession in many ways – including cracking down on unlicensed practice (link to ethics Q&A in this issue) and requiring peer review as a condition of licensure. Most firms and sole practitioners who provide attest services already participate in peer review to strengthen the quality of their work. However, for an estimated 300-400 firms, this new mandate by the State of Michigan represents both a challenge and an opportunity.

To address important questions about the new peer review requirement, the MACPA offers an informative pamphlet (you can download it) with FAQs and a critical timeline. In addition, numerous early-bird workshops are being held in conjunction with various events. An article in this issue of Leaders’ Edge offers tips for successful peer reviews to help both experienced peer review participants and those new to the process.

Every Chair of the Board brings different strengths to this position. I am committed to reaching out to our members and to our communities. I come with no agenda; rather I come with a firm commitment to our Strategic Plan. By optimizing the expertise of our members we will continue to achieve the goals set forth in the Strategic Plan, which provides for consistency and clarity of our purpose. Not only am I honored by your confidence in me, but also I am privileged to represent this great association of CPAs. I look forward to working with you our members, the staff, the Board and task forces this year.