AICPA News – December 2019

AICPA News is a roundup of recent announcements from the American Institute of Certified Public Accountants.

Financial Satisfaction Remains High

According to the AICPA’s Q3 2019 Personal Financial Satisfaction Index (PFSI), satisfaction has dipped slightly for the first time in two years. The index remains in positive territory, though, indicating that the average American should be experiencing financial well-being.

Though decreasing slightly, job openings continue to exceed job seekers. This is the third time in three years that job openings have decreased quarter-over-quarter, and this is the first time they have decreased two quarters in a row since 2012.

Other findings include:

• For Q3, the Inflation index is up 1.3 points (4.1 percent) from the Q2 level. Please note that the Federal Reserve’s target for inflation is about 2 percent.
• Underemployment is up a slight 0.5 points (1.7 percent) over the last quarter. Its peak value was 84.3 corresponding to 17.1 percent in the fourth quarter of 2009 (versus the current 7.4 percent).
• The Real Home Equity Per Capita index, based on data issued for April, is flat with the previous quarter level and is currently 3.4 percent below its 2006 all-time high.

Additional information on the PFSi can be found at: www.aicpa.org/PFSi.

Forensic and Valuation CPAs Receive Awards

The AICPA honored 17 CPAs during the 2019 AICPA Forensic and Valuation Services Conference. Elizabeth Woodward, CPA, CFF,  and William Fellows, CPA, ABV were named Volunteers of the Year, while 15 young CPAs received the Forensic and Valuation Services (FVS) Standing Ovation for contributions in their accounting specialty areas (CFF and ABV) and their communities.

The 2019 list of FVS Standing Ovation recipients is in alphabetical order below:

• Jennifer Allen, CPA, ABV, CFF, Anthem Forensics, Henderson, NV
• Brian Barnthouse, CPA, ABV, RSM US, LLP, Minneapolis, Minnesota
• Andrew Baum, CPA, ABV, CFF, Harper Hofer and Associates, LLC, Denver, CO
• Asif Charania, CPA, ABV, CFF, Keiter Stephens Hurst Gary & Shreaves, P.C., Glen Allen, VA
• Kathryn Culver, CPA, ABV, PYA, P.C., Knoxville, TN
• Nene Gianfala, CPA, ABV, CEIV, Chaffe & Associates, Inc., New Orleans, LA
• Natalie Lewis, CPA, CFF, Windham Brannon, LLC, Atlanta, GA
• Tiffany Lewis, CPA, CFF, StoneTurn Group, LLP, Houston, Texas
• John Luna, CPA, ABV, CFF, White, Zuckerman, Warsavsky, Luna & Hunt, LLP, Sherman Oaks, CA
• Nick Lynch, CPA, CFF, Dean Dorton Allen Ford, PLLC, Lexington, KY
• Greggory Peat, CPA, CFF, FTI Consulting, Lake Oswego, OR
• Joshua Sechter, CPA, ABV, MPI, Syosset, NY
• Zachary Snickles, CPA, CFF, Grant Thornton,LLP, Phoenix, AZ
• Quynh Tran, CPA, CFF, Berkeley Research Group LLC, Houston, TX
• Thomas Wagner, Jr., CPA, ABV, Blue & Co., LLC, Carmel, Indiana

A list of prior FVS members and CFF and ABV credential holders who have received awards and recognitions over the years is at: https://bit.ly/35E1cQ0. 

Olivia Kirtley Honored for Efforts to Advance Women in the Accounting Profession

Olivia Kirtley, CPA, former chair of the AICPA and president of the International Federation of Accountants, has been named the first recipient of the ASWCPA Lifetime Achievement Award, which recognizes women who have demonstrated leadership and a strong record of accomplishment in furthering the advancement of women in the accounting profession.

A consultant on accounting, risk management, and governance issues, Kirtley serves on several corporate boards. She was president of the IFAC board from 2014 to 2018 and was elected chair of the AICPA’s board of directors in 1998. Kirtley earned her bachelor’s degree from Florida Southern College and holds a master’s degree in taxation from Georgia State University.