AICPA Spring Council: Report from the Hill

By Adrienne Gonzalez

This year’s congressional visits led the agenda on the first full day of AICPA Spring Council with CPAs from all around the country visiting the offices of their congressional representatives and senators armed with two great new tools from the AICPA.

Specifically for the Maryland Association of CPAs, this year’s Hill visits began with stopping by Congressman Elijah Cummings’ office to thank him for his support of HR 2146 or the DATA Act, which passed the House at the end of April.

 

Meeting with Senators Cardin and Mikulski of Maryland, MACPA CEO Tom Hood took the opportunity to explain his organization’s support of XBRL and detailed its value in tracking and analyzing complicated financial data. He explained to Senator Mikulski how MACPA applied XBRL tagging to their own financial statements to offer greater transparency to MACPA staff, members and anyone interested in understanding the value of data tagging. He suggested to his state’s senators that a similar project on a federal level would be incredibly insightful for our government and legislators.

 

This year’s official AICPA initiatives for Hill visits focused solely on positioning CPAs as resources and thought leaders available to offer expertise, knowledge and information to members of Congress. There were no major legislative “asks” this year.

 

Council and guests shared the AICPA’s brand new Total Tax Insights calculator - a one-of-a-kind online tool that provides users with an approximation of their specific tax obligations - with members of Congress. The tool was on display throughout Council meetings this week, where participants could figure out their own estimated tax liabilities. AICPA President and CEO Barry Melancon said in his opening remarks to Council that his organization would continue to update the tool with the most current tax information going forward.

 

Council also offered members of Congress a free resource called What’s at Stake? A CPA’s Insights into the Federal Government’s Finances, a new video which concisely and objectively explains the importance of the U.S. government’s financial statements and why policymakers should consider this information carefully. The video tied in with this year’s thought leader initiatives which attempted to reiterate to Congress that CPAs are a valuable resource in an ever-changing financial landscape on the legislative level.

 

When Council attendees returned to the Grand Ballroom on Wednesday afternoon following Hill visits, it was clear the morning spent offering CPAs’ insight to legislators was the most appropriate way to launch the Spring meeting of Council. It was also an opportunity to celebrate the 125 year history of the AICPA as an important advocate for CPAs and resource for members of Congress.


 

You may like these other stories...

IRS must take oath on Lerner emails: judgeMackenzie Weinger of Politico reported on Thursday that a federal judge ordered the IRS to explain under oath how it lost emails connected to Lois Lerner, the ex-IRS official at the...
Credit Suisse says pension assets at risk unless court delays sentencingJohn Letzing of the Wall Street Journal reported on Wednesday that Credit Suisse Group AG says its management of billions of dollars in assets for...
The prospect of International Financial Reporting Standards (IFRS) being fully adopted in the United States in the near future are growing less likely, as the Financial Accounting Standards Board (FASB) and the International...

Upcoming CPE Webinars

Jul 16
Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
Jul 17
This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.