What is significant about this week that will directly impact your practice? Okay, time is up. Have an answer? If not, choose one of the following.
How about October 15th, the deadline for filing 1040s for those clients for whom you had to file that second filing extension? Whether it was procrastination or difficulty in getting needed information, there are always those clients who put added pressure on you and demand satisfaction as they make your professional life a little bit more difficult.
Here's your other choice. It happens on October 16th to 18th at the Ritz-Carlton Kapalua Hotel in Maui, Hawaii. It is the AICPA's Fall Meeting of Council.
Maybe you are not familiar with such meetings. If past ones that I attended are any indication, you can expect a very controlled agenda with a number of speakers glowingly talking about the AICPA's major initiatives, plus a speech by AICPA President and CEO Barry Melancon about the need to rejuvenate the profession's culture and restore its reputation. I would also expect the leadership of a state society or two to mildly express the concerns of their members. Of course, the AICPA financial reports will be approved.
What I don't expect is critical self-examination. The AICPA is getting quite a bit of bad press lately. There are the disparaging references to the Institute in former SEC Chairman Arthur Levitt's new book, critical statements attributed to Federal Reserve Board Governor Susan Bies, and a number of editorials condemning the AICPA's lobbying efforts in trying to prevent TIAA-CREF Chairman John Biggs from being named the chairperson of the new Public Company Accounting Oversight Board.
Yes, it will probably be business as usual this week in Maui. The AICPA leadership will acknowledge that we live in challenging times and give itself what it considers a well deserved pat on the back.
As you can figure out by now, I will be stunned if October 16th to 18th will make any real significance to your practice. So, make sure you get those returns sent in before the close of business today.
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