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INSIDE AICPA
Client debt-reduction feature wins JofA article award  
October 2012

Mollie T. Adams, Gail Petravick, and Coleen S. Troutman received the JofA’s Lawler Award for the best article of 2011. Their article, “Advising Financially Stressed Clients,” (Sept. 2011, page 50) highlighted a client’s nonbankruptcy options for debt reduction and the related tax consequences, and identified actions to avoid that could cause legal difficulties if the client ultimately files bankruptcy.

Petravick is an attorney with bankruptcy specialist law firm Ostling & Associates Ltd. of Bloomington, Ill., and an adjunct instructor at Bradley University in Peoria, Ill. Troutman is an associate professor and Adams is an assistant professor at Bradley University.

The award is named for John L. Lawler, a former JofA editor and AICPA senior vice president. Winners are chosen annually by the JofA’s board of editorial advisers.

Submit your own article to the JofA. To learn more about opportunities to be published by the JofA, read the submission guidelines or contact Amelia Rasmus at arasmus@aicpa.org or 919-402-4449.

Past Lawler Award winners:

1976—Kenneth S. Axelson, “A Businessman’s Views on Disclosure,” July 1975, page 42.

1977—Brandt Allen, “The Biggest Computer Frauds: Lessons for CPAs,” May 1977, page 52.

1978—William H. Beaver, “Current Trends in Corporate Disclosure,” Jan. 1978, page 44.

1979—David Solomons, “The Politicization of Accounting,” Nov. 1978, page 65.

1980—John C. Burton, “A Critical Look at Professionalism and Scope of Services,” April 1980, page 48.

1981—A.A. Sommer Jr., “Corporate Governance: Its Impact on the Profession,” July 1980, page 52.

1982—Gerald W. Hepp and Thomas W. McRae, “Accounting Standards Overload: Relief Is Needed,” May 1982, page 52.

1983—Paul Rosenfield and William C. Dent, “No More Deferred Taxes,” Feb. 1983, page 44.

1984—Dennis R. Beresford, Lawrence C. Best, and Joseph V. Weber, “Accounting for Income Taxes: Change Is Coming,” Jan. 1984, page 72.

1985—Newton N. Minow, “Accountants’ Liability and the Litigation Explosion,” Sept. 1984, page 70.

1986—Robert Mednick, “The Auditor’s Role in Society: A New Approach to Solving the Perception Gap,” Feb. 1986, page 70.

1987—Robert J. Sack and Robert Tangreti, “ESM: Implications for the Profession,” April 1987, page 94.

1988—Robert Mednick, “Accountants’ Liability: Coping With the Stampede to the Courtroom,” Sept. 1987, page 118.

1989—William D. Hall and Arthur J. Renner, “Lessons That Auditors Ignore at Their Own Risk,” July 1988, page 50.

1990—Robert L. Israeloff and Gerald W. Hepp, “Should CPAs Issue Plain Paper Financial Statements?” April 1990, page 59.

1991—William D. Hall and Arthur J. Renner, “Lessons Auditors Ignore at Their Own Risk: Part 2,” June 1991, page 63.

1991–1992—August J. Aquila and Allan D. Koltin, “How to Lose Clients Without Really Trying,” May 1992, page 67.

1992–1993—James E. Hunton and M.K. Raja, “How to Pick the Right Computer Network,” June 1993, page 41.

1993–1994—Gilbert Simonetti Jr. and Andrea R. Andrews, “A Profession at Risk/A System in Jeopardy,” April 1994, page 45.

1994–1995—Robert K. Elliott, “The Future of Audits,” Sept. 1994, page 74.

1995–1996—William L. Reeb and Michaelle Cameron, “Getting Beyond Counting,” Dec. 1996, page 69.

1997—Chris Malburg, “Surviving Explosive Growth,” Dec. 1997, page 67.

1998—Nita J. Clyde, “CPE Is Broke; Let’s Fix It,” Dec. 1998, page 77.

1999—Douglas R. Carmichael, “Hocus-Pocus Accounting,” Oct. 1999, page 59.

2000—Joseph T. Wells, “So That’s Why It’s Called a Pyramid Scheme,” Oct. 2000, page 91.

2001—Edward Mendlowitz, “Nine Ways to Make Your Firm More Exciting,” March 2001, page 63.

2002—Joseph T. Wells, “Occupational Fraud: The Audit as Deterrent,” April 2002, page 24.

2003—Stephen A. Scarpati, “CPAs as Audit Committee Members,” Sept. 2003, page 32.

2004—Jennifer M. Mueller, “Amortization of Certain Intangible Assets,” Dec. 2004, page 74.

2005—Thomas G. Evans, Stan Atkinson and Charles H. Cho, “Hedge Fund Investing,” Feb. 2005, page 52.

2006—Kathryn L. Garnett, “Social Security: What’s the Magic Age?” July 2006, page 28.

2007—Edward J. Dupke, Robert F. Reilly, John R. Gilbert, Randie Dial and Michael A. Crain,  Business Valuation Section to introduce the AICPA’s Statement on Standards for Valuation Services, Sept. 2007, page 32.

2008—Paul B.W. Miller, Paul R. Bahnson and Brian P. McAllister, “A New Day for Business Combinations,” June 2008, page 34.

2009—Martin A. Leibowitz and Alan Reinstein, “Help for Solving CPAs’ Ethical Dilemmas,” April 2009, page 30.

2010—Rich Arzaga, “2010: The Year of the Roth Conversion?” Jan. 2010, page 28.


INSIDE AICPA
The Tax Adviser names winner of best article award  
October 2012

Tony Nitti, a partner with WithumSmith+Brown in Aspen, Colo., received The Tax Adviser’s 2011 Best Article Award for his article “S Corporation Shareholder Compensation: How Much Is Enough?” (The Tax Adviser, Aug. 2011, page 534).

The winning article was chosen by The Tax Adviser’s editorial advisory board from among the articles published in The Tax Adviser from January through December 2011. It was selected for its usefulness, practicality, and readability.


INSIDE AICPA
Institute recognizes outstanding CPAs in government  
October 2012

John H. Fisher, former audit manager and single audit coordinator for the U.S. Department of Health and Human Services, and Roger Norman, legislative auditor for the state of Arkansas, received the AICPA’s Outstanding CPAs in Government Award.

Fisher, who worked in Kansas City, Mo., and died in September 2011, was posthumously named the federal-level recipient. He helped HHS establish the National External Audit Review (NEAR) Center, which analyzes the single-audit reports prepared by independent external auditors on entities that expend HHS program funds and reports results of these reviews, along with recommendations for follow-up and monitoring, to enhance program integrity.

Fisher served as a member of the state governmental committees for the Kansas and Missouri state CPA societies. He also served on the Single Audit Committee of the Southwest Intergovernmental Audit Forum and on the Technical Issues Committee of the Mid-America Intergovernmental Audit Forum.

Norman, who received the state-level award, manages 275 employees to provide approximately 1,000 audits, reports, and special projects each year to assist the Arkansas General Assembly in making policy decisions and ensuring proper accountability, stewardship, and transparency of public funds and resources.

Norman has directed the Arkansas Division of Legislative Audit to help meet federal single-audit deadlines while auditing American Recovery and Reinvestment Act funds totaling about $3 billion. He has increased the division’s focus on technology and other resources that would facilitate a paperless audit management program to reduce expense and increase efficiency.

The AICPA did not name a local-level winner of the Outstanding CPA in Government Award this year.


INSIDE AICPA
Student overcomes physical adversity and earns Medal of Inspiration Award  
October 2012

Paul Wright, a student at Western Washington University, received Beta Alpha Psi’s Medal of Inspiration Award.

Sponsored by the AICPA, the award recognizes a student who has experienced extreme hardships and who has demonstrated an unusually high level of success despite that adversity. Beta Alpha Psi is an honorary organization for financial information students and professionals.

Wright was born with arthrogryposis, a nongenetic, nonprogressive disability that includes stiff joints and missing muscle. He endured multiple surgeries before he turned 16.

Wright graduated from high school while participating in a program that allowed him to take classes at a community college at the same time.

At the university in Bellingham, Wash., Wright became an accounting major and joined Beta Alpha Psi. He worked with the university’s disability resource center and his local BAP chapter to start streaming organizational meetings to students who could not physically attend.

Wright plans to graduate in the spring of 2014.


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