Last week it was reported that an email designed to appear that it was coming from the AICPA was sent to numerous individuals, CPAs, non-CPAs and members of the general public threatening to terminate the recipient’s accountant license. The email, a phishing scam, is not from the AICPA nor any of its systems. Phishing is a way of attempting to acquire information such as usernames, passwords, credit card data or other information by masquerading as a trustworthy entity in an electronic communication. The email likely contains a virus; no one should open it or click on any links. It should be deleted immediately. The AICPA continues to investigate the source of the email and is working with other organizations that were targeted, such as the Better Business Bureau. If you have any concerns or questions, please contact the AICPA Member Service Center at 888.777.7077 and select option 1.
Read more about the email on AICPA.org.
 

The Second Regular Session of the 68th General Assembly of Colorado convened on Jan. 11, 2012, despite freezing, snowy weather and treacherous driving conditions.  Per the state Constitution, the Legislature meets for no more than 120 days, with adjournment sine die occurring not later than midnight, May 9, 2012.  CSCPA legislative counsel Danny L. Tomlinson and his colleagues prepared a preview of the 2012 legislative session which is available here. For information on the General Assembly, including legislator contact information, information on bills introduced, scheduled committee hearings, the deadline schedule, and links for listening to live audio broadcasts of the proceedings, go to the Colorado General Assembly home page at www.leg.state.co.us.  Again this year, the House of Representatives and Senate proceedings will be televised, both on the Internet and Comcast cable television channel 165. For more information, contact Danny Tomlinson at www.lobbycolorado.com.

Women have been made significant contributions to Colorado’s CPA profession ever since 1913 when Emma Manns became the first woman CPA in the state. Now, 99 years later, in conjunction with the AICPA Women’s Initiative Committee, the CSCPA is holding its first Women to Watch Awards. There are two nomination categories: CPA Experienced Leaders: Women who have made notable contributions to the accounting profession, their organizations, and the development of women as leaders; and CPA Emerging Leaders: Women who have demonstrated characteristics that will enable them to become leaders in the profession. More details on the criteria can be found here. Click here for the nomination form. Deadline for nominations is Feb. 17, 2012.

A new designation, the Chartered Global Management Accountant (CGMA), was launched around the world on January 31, 2012 through a joint venture of the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA). The CGMA is a new global designation that recognizes CPAs working in a range of management accounting roles in businesses, industries and governments worldwide. Those with the new designation play a critical role in helping organizations of all sizes achieve sustainable business success. Management accountants, in today’s ever-more complex business environment, have greatly expanded their roles as business partners and must have the ability to synthesize and interpret a wide range of non-financial and financial information. The CGMA signals to employers that the designee has built upon core financial expertise and business acumen and is committed to continually developing his or her management accounting competencies.
 
CGMA designation-holders have access to a new resource-rich website, www.cgma.org, featuring a global online community of peers, thought leadership papers, practical business tools, CGMA Magazine and Newsletter and other resources to help them stay up-to-date on important professional issues, drive critical business decisions at their organizations and chart the best course to meet their professional objectives.

Click below for an interview with AICPA President and CEO Barry Melancon, CPA, CGMA and CIMA chief executive Charles Tilley, FCMA, CGMA—a former London partner of KPMG and Group Finance Director of investment banks Hambros PLC and Granville Baird— as they discuss the new designation, its development and the role of management accountants.

The 2011 Colorado individual income tax forms have been changed to help avoid common errors and omissions which result in letters or billing notices from the department. The Colorado Department of Revenue hopes that these improvements will assist tax professionals and taxpayers to submit accurate returns. Another easy way to avoid omissions is to file income tax electronically either through Revenue Online or other online tax services or software. Click below for an outline of some of these improvements.

In the 2011 fiscal year, the Educational Foundation of the Colorado Society of CPAs awarded $69,000 in scholarships to deserving Colorado accounting students, thanks to the generosity of CSCPA members, firms, and others.

This year we raised the scholarship amount from $2500 to $3000 to make a more significant difference to deserving students.  In these tight economic times that $3000 scholarship means more than ever to both students and parents.

Won’t you please consider a contribution to the Educational Foundation of CSCPA as you begin your year-end financial planning?  You can contribute online by going to the Educational Foundation webpage. Once there, login using your member ID and password, and click “To make a contribution to the Educational Foundation, click here.”  Complete the billing information form and “send.”  You may also mail a check to us at Education Foundation of the CSCPA, 7979 E Tufts Ave., Ste 1000, Denver, CO  80237.

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If you have questions, please call Susan Vachereau at (303) 741-8605 or (800) 523-9082, ext. 105.