Who We Are
The Arkansas Society of CPAs (ASCPA) is an active professional organization of CPAs working together to improve the profession and serve the public interest.
With over 80 years of service to the accounting profession, the mission of the ASCPA is to act on behalf of its members and to provide support in enabling its members to perform quality professional services while serving the public interest. To achieve its mission the ASCPA:
- 1. Promotes membership in the Society by all licensed CPAs.
- 2. Provides a forum for personal and professional interaction to exchange ideas and experiences.
- 3. Seeks to maintain the integrity of the CPA designation and the licensing process.
- 4. Supports requirements for maintaining and enhancing members' professional competence.
- 5. Provides standards of professional conduct and monitors performance to enforce the professional standards.
- 6. Promotes the services performed by CPAs which encompass the integrity, objectivity and competence in the profession.
- 7. Identifies and provides selected services to fulfill the needs of the diverse membership (industry conferences, personal financial planning, insurance and other programs).
- 8. Provides adequate and timely professional information to its members.
- 9. Provides a variety of high quality education opportunities to assist members in continuing professional expertise.
- 10. Represents the interests of its members to government, regulatory bodies, and other organizations for improved external relations.
Back to Top
Continuing Professional Education (CPE) Program
The Society's extensive Continuing Professional Education (CPE) program offers over 65 accredited courses and seminars annually. In addition, CPE is available through self-study materials, in-house programs, conferences, and chapter meetings. Programs are scheduled year-round to meet the professional needs of all members.
Top-rated discussion leaders conduct seminars in every area of accounting. It's easy to take advantage of these programs. You may register in person, by mail, by fax, by e-mail or toll-free phone. The CPE Department keeps track of all credits earned by members and prepares an annual statement available on request for use by the member.
The CPE section in the ASCPA Newsletter, keeps members up-to-date on schedules and opportunities. The ASCPA CPE Catalog is published annually showing CPE offerings all over the State. Special event flyers and conference brochures are mailed to members throughout the year.
Back to Top
Annual Convention
The ASCPA holds an Annual Convention, usually at a resort area, where members may participate in technical sessions and social activities with other members of the Profession and their families.
Back to Top
Annual Leadership Conference
The ASCPA's leaders play vital roles in the long-term health and vitality of this organization. Each year, the Society offers a Leadership Conference, presented by dynamic speakers that inspire, train and educate all ASCPA leaders.
Back to Top
Awards
The Society confers several professional awards including the Lifetime Achievement in Accounting Education Award, Outstanding CPA in Government Award, and the Public Service Award. In addition, the Society presents annual awards for Outstanding Discussion Leader, Outstanding CPA in Business and Industry, and Innovative User of Technology.
Back to Top
Emergency Assistance Plan
The Emergency Assistance Plan offers help to a surviving spouse or an estate in disposing of a practice and provides minimum conditions for that disposition.
Back to Top
Information Exchange Service
The Society maintains a bank of ASCPA members who work in various specialized areas. Occasionally, an ASCPA member will have a question arise that is out of his/her area of expertise. The ASCPA staff can help put members in touch with other members to assist with questions and/or advice.
Back to Top
Legislative Efforts
It is important for the Society to build friendships at the Capitol and to obtain favorable legislation. The Society maintains a close working relationship with elected officials and appointed government officials. ASCPA Chapters host annual appreciation events for legislators in their area, and the Society hosts a biannual hospitality reception for legislators statewide. Workshops are offered to educate members on the legislative process. All members are asked to assist with the ASCPA legislative effort by serving as contact persons for members of the Arkansas Legislature and the United States Congress.
Back to Top
Part-Time Assistance Program
Each year, to assist members and firms, ASCPA compiles a list of CPAs seeking part-time employment during tax season and also a list of firms wishing to hire part-time staff. The list is distributed to both parties.
Back to Top
Peer Review Program
The 2004 Reviewer Directory is now Online!
The Arkansas Society of CPAs administers the AICPA Peer Review Program. This program is designed to be educational for firms in public accounting to further enhance the quality in their performance of accounting and auditing engagements. The program also enables firms to communicate with their fellow peers on the objectives of the Accounting Profession.
AICPA members engaged in the practice of public accounting are required to practice in a firm that is enrolled in an approved practice-monitoring program such as the Peer Review Program.
Member firms should be enrolled the program, even if they do not currently function in an accounting or auditing capacity. Non-A&A firms are asked to confirm annually that no accounting or auditing engagements are being performed. Should the firm engage to perform such an engagement, a peer review should be performed within 18 months of the fiscal year-end of the first such client accepted.
Firms performing engagements under the SASs, or the yellow book or examinations of prospective financial information under the SSAEs, will have a "system" peer review, whereby the reviewer will study and evaluate the firm's system of quality control policies and procedures in order to provide reasonable assurance of conforming with professional standards. It is basically the same as the old on-site review with a name change only, designed to more accurately describe the type of peer review since the reviewer will be expressing an opinion on the firm's system of quality control.
An "engagement" peer review is for firms that are not required to have a system review, and are not eligible to have a report review, as discussed below. The objectives on an engagement review are to provide the reviewer with a reasonable basis for expressing limited assurance that attestation engagements submitted by the firm for review conform with professional standards, and that the firm's documentation conforms with the requirements of the SSARs and the SSAEs in all material respects (new under the revised standards).
An engagement review is similar to the old off-site peer review wherein a separate report and letter of comments are written, and the completed review goes through the technical review process, committee acceptance, monitoring actions, etc. Since engagement reviews do not cover the firm's system of quality control, the reviewer does not express an opinion on the firm's compliance with its own quality control policies and procedures or with quality control standards, just conformity with SSARs and the SSAEs. Some examples of the documentation referred to above on a review engagement include the management representation letter, the documentation of the matters covered in the accountant's inquiry representation letter, the documentation of the matters covered in the accountant's inquiry and analytical procedures, etc. A firm must have an engagement review if it performs, as its highest level of service, compilations referred to in the SSARs as "selected information - substantially all disclosures required are not included."
Firms who only perform compilations that omit substantially all disclosures may have a "report" peer review. In a report review, the reviewer selects a sample of engagements and gives the firm a report that lists comments and recommendations based on whether the financial statements and the related accountant's reports appear to conform with the requirements of professional standards in all material respects. An authorized member of the firm is required to sign the report, whether or not there are comments, acknowledging that the firm has no disagreements with the comments and recommendations therein, and forwards a signed copy of the report to the administering entity. There is no separate letter of comments or letter of response; however, the firm is not prohibited from attaching a response to the copy of the signed report. A technical review is required on report reviews, but committee acceptance by the administering entity's peer review committee is required only when the technical reviewer determines there are significant issues requiring the committee's attention. Only the peer review committee may impose monitoring actions the firm and / or reviewer.
For more information, visit these sites:
Back to Top
Professional Liaison Program
The ASCPA serves as a liaison with the Arkansas State Board of Public Accountancy and Arkansas Bar Association, and maintains a close working relationship with them as well. The Society is also an active member of the Tax Advisory Council, which meets annually to review and improve state laws; other members of the Tax Advisory Council include the Arkansas Society of Public Accountants, Revenue Division of the Department of Finance and Administration, Arkansas Bar Association, and other taxpayer oriented groups.
Back to Top
Public Relations Program
Seeking exposure in newspapers, radio and television, and by providing speakers for community groups, the Society works to enhance the image of the CPA in Arkansas among both the general public and special groups such as bankers, lawyers and government officials. Society members take an active role in promoting the CPA profession among students in Arkansas' high schools and colleges. The ASCPA office maintains key presentation material for members' use, such as videos, speeches and brochures.
Back to Top
Reference Library
The ASCPA maintains a periodical reference library that may be used by members for research. Included among the publications are: FASB Statements and Interpretations, The Journal of Accountancy, CPA Journal, Journal of Taxation, The Tax Advisor and many other informative reference tools.
Back to Top
Resume' Service
When you are ready to make a move, or looking to hire, turn to the ASCPA Resume Service for help with your job search. Upon request, the Society will send a copy of your resume to prospective employers. Through a service called Resume Link, members can post their resumes and job openings on-line.
Back to Top
Student Loans
ASCPA's Student Loan Fund Foundation, augmented annual by contributions from members, provides loans to accounting majors at Arkansas colleges and universities.
Back to Top
Other Special Services
Members benefit by other group privileges, such as discounts available from DHL (shipping), Alamo Rental Car, Avis Rental Car, Capital Confirmation, Career Bank, The CPA Journal, The CPA Software News, Dell Computers, Dental & Vision Insurance, Fidelity Investments Brokerage Group, Hertz Rental Car, Hewlett Packard, IC System (Collection Services), MBNA MasterCard, Monroe Systems for Business Calculators, Research Institute of America, Rebsamen Insurance, Sam's Club Warehouse, and Snelling Personnel Services.
For additional information on these special services, email Robin at ascpa@arcpa.org.
Back to Top
Insurance Plans
Perhaps one of the most important benefits available to members is the various insurance plans. Following is a list of the current plans available. Specific questions about any of these plans should be addressed to the appropriate plan administrator.
Professional Liability Insurance
Underwritten by the CNA Insurance Companies and endorsed nationally by the AICPA.
Limits up to $10,000,000 are available.
Endorsed by the ASCPA.
To apply online visit www.cpai.com/regions
Administrator: Vernon Dutton, Holly Schieber or Cody Cox
Regions Insurance, Inc.
1500 Riverfront Drive
Little Rock, AR 72203
501-664-8791 / 888-272-6656 (Toll-Free)
Vernon.Dutton@regionsinsurance.com, Cody.Cox@regionsurance.com / http://regions.com/rig/cpa_society.rf
Disability Income Protection
Association Plan underwritten by Boston Mutual Insurance Company.
Endorsed by the ASCPA.
Administrator: Vernon Dutton, Holly Schieber or Cody Cox
Regions Insurance, Inc.
1500 Riverfront Drive
Little Rock, AR 72203
501-664-8791 / 888-272-6656 (Toll-Free)
Vernon.Dutton@regionsinsurance.com, Cody.Cox@regionsurance.com / http://regions.com/rig/cpa_society.rf
Long Term Care
Long Term Care is an asset protection plan. It provides benefits for coverage of Nursing Home expenses as well as Optional Professional Home Care Benefits and Total Home Care Benefits. If you can't perform two of the Activities of Daily Living (eating, bathing, dressing, transferring, toileting, or continence) or suffer Cognitive Impairment, including Alzheimer's Disease, and require the stand-by assistance of another person, you are eligible for benefits. Benefits are payable after a waiting period is satisfied, usually 30 to 90 days. Benefit Periods are 2 years, 3 years, 6 years, or Lifetime. Optional inflation protection is available. Benefit amounts range from $1000 to $6000 per month.
Endorsed by the ASCPA.
Administrator: Vernon Dutton, Holly Schieber or Cody Cox
Regions Insurance, Inc.
1500 Riverfront Drive
Little Rock, AR 72203
501-664-8791 / 888-272-6656 (Toll-Free)
Vernon.Dutton@regionsinsurance.com, Cody.Cox@regionsurance.com / http://regions.com/rig/cpa_society.rf
Business Overhead Expense Plan
Underwritten by Boston Mutual Insurance Company.
Benefits up to $15,000 per month are available.
Endorsed by the ASCPA.
Administrator: Vernon Dutton, Holly Schieber or Cody Cox
Regions Insurance, Inc.
1500 Riverfront Drive
Little Rock, AR 72203
501-664-8791 / 888-272-6656 (Toll-Free)
Vernon.Dutton@regionsinsurance.com, Cody.Cox@regionsurance.com / http://regions.com/rig/cpa_society.rf
Accidental Death & Dismemberment
Underwritten by United States Life
Available for you, your spouse and your children.
Endorsed by the ASCPA.
Administrator: Vernon Dutton, Holly Schieber or Cody Cox
Regions Insurance, Inc.
1500 Riverfront Drive
Little Rock, AR 72203
501-664-8791 / 888-272-6656 (Toll-Free)
Vernon.Dutton@regionsinsurance.com, Cody.Cox@regionsurance.com / http://regions.com/rig/cpa_society.rf
Daily Hospital Indemnity Plan
Underwritten by UNUM Insurance Company.
Pays up to $200 per day while hospital confined.
Endorsed by the ASCPA.
Administrator: Vernon Dutton, Holly Schieber or Cody Cox
Regions Insurance, Inc.
1500 Riverfront Drive
Little Rock, AR 72203
501-664-8791 / 888-272-6656 (Toll-Free)
Vernon.Dutton@regionsinsurance.com, Cody.Cox@regionsurance.com / http://regions.com/rig/cpa_society.rf
Individual Long Term Care
Underwritten by UNUM.
Endorsed by the ASCPA.
Administrator: Vernon Dutton, Holly Schieber or Cody Cox
Regions Insurance, Inc.
1500 Riverfront Drive
Little Rock, AR 72203
501-664-8791 / 888-272-6656 (Toll-Free)
Vernon.Dutton@regionsinsurance.com, Cody.Cox@regionsurance.com / http://regions.com/rig/cpa_society.rf
Term Life Insurance
Underwritten by United States Life.
Up to $1,000,000 in coverage is available for you, your spouse and children.
Endorsed by the ASCPA.
Administrator: Vernon Dutton, Holly Schieber or Cody Cox
Regions Insurance, Inc.
1500 Riverfront Drive
Little Rock, AR 72203
501-664-8791 / 888-272-6656 (Toll-Free)
Vernon.Dutton@regionsinsurance.com, Cody.Cox@regionsurance.com / http://regions.com/rig/cpa_society.rf
CPA EmployerGard
CPA EmployerGard provides Employment Practices Liability.
Coverages include wrongful termination, discrimination, harassment (both 1st party and 3rd party claims) and failure to make partner as well as other types of protection.
Limits of Liability range from $100,000 to $2,000,000.
Virginia Surety, an A rated company, is the insurance carrier.
The EmployerGard was created exclusively for CPA Firms.
Endorsed by the ASCPA.
Administrator: Vernon Dutton, Holly Schieber or Cody Cox
Regions Insurance, Inc.
1500 Riverfront Drive
Little Rock, AR 72203
501-664-8791 / 888-272-6656 (Toll-Free)
Vernon.Dutton@regionsinsurance.com, Cody.Cox@regionsurance.com / http://regions.com/rig/cpa_society.rf
Long Term Care
Written by Massachusetts Mutual Life Insurance Company.
Members, Spouses, Parents, In-laws, and Children will receive 10% discount.
Joint Policy will receive up to 50% discount.
Endorsed by the ASCPA.
Contact Information: Heady Nezhadpour
Certified Long Term Care Consultant, Certified Senior Advisor
501-920-8408
hdnezhadpour@finsvcs.com / www.arltc.com
Dental Insurance
Underwritten by CompBenefits.
Members may choose a managed care plan with no deductible or an indemnity plan with a $50 deductible and the freedom to use any dentist.
Endorsed by the ASCPA.
Administrator: Robbi Davis
The Robbi Davis Agency, Inc.
501-954-8100
AICPA Endorsed Insurance Plans
Insurance plans endorsed by the American Institute of CPAs are available to AICPA and/or ASCPA members:
CPA PLAN
Provides up to $1,000,000 of term life and accidental death and dismemberment coverage.
800-223-7473
Group Insurance Plan
Provides term life and accidental death and dismemberment benefits
on an employee benefits program basis for public accounting firms.
800-221-3019
Long Term Disability Income Plan
Provides long term disability income benefits for AICPA and/or ASCPA members.
800-221-4722
Administrator for AICPA Plans: Aon Insurance Services
AICPA Plan Agent
200 Park Avenue
New York, NY 10166
Back to Top
The ASCPA Newsletter
Published monthly, the ASCPA Newsletter provides up-to-date information concerning developments in the Profession, news about members, upcoming events and other general information, including the latest professional pronouncements. Be apprised of legislative happenings and acquire knowledge of technical information provided by the Society's committees.
Back to Top
Yearbook
Each year, the ASCPA publishes a Yearbook that contains Officers and Directors, AICPA Council Representatives, State Board of Accountancy Members, Committee Members, Chapter Officers, as well as an overview of Society services and benefits.
Back to Top
Technology and the Society
Acutely aware of the rapid technological changes occurring, the State Society has staff and committees working to provide upgrades to our services. Delivery of timely and accurate information to our membership is our foremost challenge.
Back to Top
