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 90 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
The Society's extensive Continuing Professional Education (CPE) program
offers over 90
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
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
The ASCPA's leaders play vital roles in the 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
The Society confers several professional awards including the Distinguished Achievement in
Accounting Education Award, Outstanding CPA in Business & Industry Award, Outstanding CPA in Government Award, and the Public Service
Award for firms. In addition, the Society presents annual award for Outstanding Discussion Leader.
Back to Top
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
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
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 biennial 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
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
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
The ASCPA serves as a liaison with the American Institute of CPAs, Arkansas State Board of Public Accountancy and
Arkansas State Government, 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
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
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
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.
Back to Top
Members benefit by other group privileges, such as discounts available from
Alamo Rental Car, Avis Rental Car, Bank of America Credit Card, Capital Confirmation, Career Bank, The CPA Journal, The CPA
Technology Advisor, Dell Computers, DHL (shipping), Fidelity
Investments Brokerage Group, Genesys Conferencing, Hertz Rental
Car, Hewlett Packard, I.C. Systems Collections, Kinko's Printing, Monroe Systems for Business Calculators,
Office Depot, Pro Pay (credit card processing) Sam's Club Warehouse, Tech Depot,
and various insurance plans.
For additional information on these special services, email Robin at ascpa@arcpa.org.
Back to Top
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. Administered nationally by AON Insurance Services.
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@regionsinsurance.com
/ www.regionsinsurance.com
Disability Income Protection
Association Plan underwritten by United States Life.
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@regionsinsurance.com
/ www.regionsinsurance.com
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@regionsinsurance.com
/ www.regionsinsurance.com
Business Overhead Expense Plan
Underwritten by United States Life
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@regionsinsurance.com
/ www.regionsinsurance.com
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@regionsinsurance.com
/ www.regionsinsurance.com
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@regionsinsurance.com
/ www.regionsinsurance.com
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@regionsinsurance.com
/ www.regionsinsurance.com
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@regionsinsurance.com
/ www.regionsinsurance.com
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@regionsinsurance.com
/ www.regionsinsurance.com
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
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
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
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
| 
