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NEWSACCOUNT COLORADO SOCIETY OF CPAs • WINTER 2026

MEET THE 2025 EVERYDAY HEROES AND HEROINES, WOMEN TO WATCH AWARD HONOREES PAGE 4

COLORADO FEELS THE IMPACT OF ONE BIG BEAUTIFUL BILL PAGE 18

Responsibly Navigating

Data and Artificial Intelligence

in Accounting PAGE 10

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COCPA

COLORADO SOCIETY OF CPAS

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Contents Features 4

Meet the 2025 Everyday Heroes and Heroines, Women to Watch Award Honorees In November, members of the accounting profession gathered at downtown Denver’s Embassy Suites to recognize nine individuals for the difference that they’re making in their communities and workplaces.

Responsibly Navigating Data and Artificial Intelligence in Accounting Data and artificial intelligence are transforming the accounting profession, offering powerful tools for insight and efficiency. But their use also creates new ethical challenges.

Colorado Feels the Impact of One Big Beautiful Bill Seasoned state and local tax expert Bruce M. Nelson, CPA, shares his insights on the impact to Colorado of the One Big Beautiful Bill Act.

CMU Maverick Ripples Create Connection, Community for Accounting Students While accounting concepts can feel abstract in the classroom, Colorado Mesa University’s Accounting Club bridges the gap by offering students authentic professional experience and a connection to their community. Cybersecurity Isn’t a Tech Issue – It’s a Business Imperative for CPAs While it’s tempting to regard cybersecurity as merely an IT concern, it's a business-critical issue that can directly impact client trust, operational continuity, and even the future of your firm.

24 Departments 2

Chair Column

DE&I Spotlight

Career Chronicles

Welcome, New Members

Committee Digest

Movers & Shakers

In Memoriam

CPE Quiz

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CHAIR COLUMN

NEWSACCOUNT A publication of the Colorado Society of Certified Public Accountants Vol. 71, No. 3 Winter 2026

Officers

Alexandra "Alexie" Tune, Chair Alexandria "Alex" Romero, Vice Chair Jim Gilbert, Treasurer Tobias "Toby" Clary, Immediate Past Chair Alicia Gelinas, Secretary

Directors

Paul Elggren, Tiffany Knight, Dana Lambert, Patrick Lytle, Kevin Gibson, Lisa Kutcher, Hannah Thaw

Editorial Board

Isaac Adamu, Ken Fichter, Laura Theiss, Michael West, Charlie Wright

Kelli Davis, Editor Emily Russell, Blue Ocean Ideas, Design NewsAccount (ISSN #10899952) is published quarterly by the Colorado Society of Certified Public Accountants, 720 S. Colorado Blvd., Suite 500N, Glendale, CO 80246. NewsAccount is published in Winter, Spring, Summer, and Fall and reports information, news, and trends in the accounting profession. The Colorado Society of CPAs assumes no liability for readers’ business decisions in reference to advertisements or other information included in this publication. Links to external websites are provided for convenience and are not under the control of the COCPA. The inclusion of such links does not constitute an endorsement of the content or the views expressed therein. Membership dues include a $2.00 one-year subscription to NewsAccount. 303-773-2877 • 800-523-9082 Fax: 303-773-6344

NewsAccount is available online at www.cocpa.org.

Collaboration and Partnership Pave the Way for an Exciting 2026 Legislative Session BY ALEXANDRA TUNE, CPA, MACC, CHAIR

As the Colorado 2026 legislative session begins, I’m struck by both the rapid changes in our profession and the incredible opportunity unfolding before us. The nationwide conversation on expanding pathways to CPA licensure has moved swiftly from vision to tangible action, and we are now ready to help shape this transformation in Colorado. A TURNING POINT FOR THE PROFESSION As you probably already know, the shortage of accounting professionals has for years been a top concern for business leaders. But this year, we’ve seen a true turning point: States across the country are actively reimagining what it means to become a CPA.

Our relationships – built methodically over years of collaboration with leaders like Daniel Furman and Erin Snow at Hall & Evans, our representatives at the Capitol – give us a seat at the table when these critical decisions are made. (Our relationship with Furman continues in 2026 as he goes out on his own and continues his commitment to our partnership.)

Ohio stepped forward early in 2025, passing a law that opened new routes to licensure. Since then, 23 states have followed suit, with more states, including Colorado, currently considering similar moves.

Legislators often say their policy knowledge is a mile wide but an inch deep, so our role as trusted advisors, sharing expertise and perspective, is more essential than ever.

Importantly, this sweeping movement isn’t about lowering standards. Instead, it’s focused on opening thoughtful, flexible new paths to attract exceptional talent while safeguarding the uncompromising integrity, ethics, and rigor that have always defined our profession.

GROWING OUR ADVOCACY TEAM

LEARNING, COLLABORATING, AND LEADING Over the course of this year, we’ve had time to observe how the AICPA, the National Association of State Boards of Accountancy (NASBA), and other states are approaching legislative changes while still upholding crucial principles such as mobility. Protecting mobility – the ability to practice across state lines – remains a top priority for us as well.

To navigate the quickly evolving legislative landscape, the COCPA expanded its advocacy team in October, welcoming Cole Buerger as Director of Government Affairs and Advocacy. Cole’s passion and expertise, paired with our enduring strategic relationships, ensure that CPAs have an informed, persistent voice at the Capitol during these times of rapid change. Read more from Cole on page 14.

FROM PLANNING TO PROGRESS As always, bringing legislation to life requires piecing together countless details, from developing precise language to assembling coalitions and, most critically, finding effective and passionate bill sponsors. With

COCPA ON THE MOVE only five bills allowed per legislator each session, every bill must be compelling and carefully considered. I’m thrilled to share that our focus on relationship building has paid off. In 2025, we secured bipartisan support for our legislation in both chambers of the Colorado Legislature. This is a true testament to the credibility and respect that the COCPA has built in our state.

Society Office Move Nears Completion

WHAT THE NEW PATHWAYS MEAN So, what’s at stake? If our efforts succeed, aspiring Colorado CPAs will have three clear paths to licensure: • Master’s degree: A master’s degree, passing the CPA and ethics exams, and one year of experience. • Bachelor’s degree plus 30 hours: A bachelor’s degree with 30 additional credit hours, passing the CPA and ethics exams, and one year of experience. • New pathway: A bachelor’s degree, passing the CPA and ethics exams, and two years of experience. This change will allow new pathways for capable, motivated individuals to attain their CPA licensure while upholding the high standards that foster the utmost trust in our profession by clients and members of the public.

YOUR ADVOCACY MATTERS As we move forward, your engagement continues to be vital. Stay connected with us – watch for updates on our COCPA Advocacy page and, if you’re able, consider supporting the CPA-PAC so that the CPA profession’s collective voice remains strong at the Capitol.

e’re excited to share an update on the new COCPA office! Construction is nearly complete, and in December we moved our existing furniture into the new space. New furniture will be arriving soon to complete our setup and finalize the space. We can’t wait to welcome members to the Society’s new home, at 720 S. Colorado Blvd. in Glendale, in a space that’s designed to better support connection, collaboration, and everything that we do on members’ behalf.

As we’ve shared before, this move includes a reduced footprint, allowing us to be good stewards of our resources and direct more member dues toward what matters most to you: increased member benefits, advocacy, and meaningful engagement opportunities. The dust is almost gone, the boxes are disappearing, and the finish line is in sight. Stay tuned for more details on opportunities to visit. We’re proud of the space and eager to share it with you.

Thank you for your commitment, talent, and passion for the profession. Together, we can meet this historic moment and shape the future of accounting in Colorado. Alexandra Tune, CPA, MAcc, leads Deloitte’s Denver Office Audit & Assurance Technology and Emerging Growth Practices, specializing in the technology, healthcare, and health technology industries. Reach her at atune@deloitte.com.

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MAKING A DIFFERENCE

Meet the 2025 Everyday Heroes and Heroines, Women to Watch Award Honorees BY NATALIE ROONEY

COCPA CEO Alicia Gelinas, far left, and 2025-26 Chair Alexie Tune, far right, join Everyday Hero and Heroine Award honorees Jim Brendel, Ryan Marczewski (accepting on behalf of Dan Seff), Gary Hypes, and Hillary Morgridge at the 2025 CPAs Make a Difference celebration.

On Nov. 13, 2025, members of the accounting profession gathered at downtown Denver’s Embassy Suites to recognize nine individuals for the difference that they’re making in their communities and workplaces. We applaud their accomplishments and appreciate their commitment to making our world better.

2025 EVERYDAY HEROES AND HEROINES Behind every ledger, audit, and tax return, there are CPAs who quietly make a difference, whether by mentoring a team, volunteering in their local community, guiding a nonprofit through financial uncertainty, or leading business innovations. The COCPA Everyday Heroes and Heroines Award acknowledges those who silently change businesses and lives. This year’s winners represent the very best of that spirit. We salute their dedication, humility, and deep commitment to making a meaningful difference. Their stories remind us that excellence in accounting isn’t only about technical skill; it’s also about people, purpose, and progress. 4

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2025 EVERYDAY HERO

Jim Brendel, CPA Retired Partner, Moss Adams

im Brendel may have retired, but he continues to exemplify the spirit of a COCPA Everyday Hero through his service, leadership, and unwavering dedication to the accounting profession and the COCPA community. Jim continues to devote his time and expertise to advancing the profession and supporting future generations in so many ways. His distinguished career spans more than 40 years, primarily with Hein and Associates, where he rose through the ranks to become CEO and guided the firm through its successful merger with Moss Adams.

CPAs make a DIFFERENCE

Women to Watch Award honorees Melissa Armstrong, Stephanie Daniels, Tiffany Davis, Keely Gohl, and Astride Mukabagula gather as they are recognized for their accomplishments.

His steady leadership proved especially vital during the COVID-19 pandemic, when he worked to maintain morale, ensure continuity, and help teams navigate unprecedented challenges. His ability to lead with courage, clarity, and compassion has left a lasting imprint on colleagues and the organizations he served.

2025 EVERYDAY HERO

Dr. Gary Hypes, JD, MBA, CPA (WV), CFE

For more than 15 years, Jim has volunteered in numerous roles within the COCPA, including service on the Board of Directors, leadership within the Diversity, Equity and Inclusion Committee — including a term as chair — and participation in the COCPA Educational Foundation’s mentorship program. His mentorship relationships have been so impactful that they were featured in a NewsAccount article.

Jim’s commitment to helping others grow extends beyond the profession. For more than a decade, he has supported Colorado State University’s Accounting Advisory Board and volunteered with Hope Ignites Colorado, an organization that helps underresourced youth build financial literacy and prepare for college success.

As a professor of accounting and law, Gary’s students appreciate him for his ability to bring energy, clarity, and real-world relevance to every class he teaches. His teaching style is to go beyond the textbook, preparing students to “think critically, act ethically, and engage with the profession at the highest level.”

Colleagues describe Jim as a model of integrity, strength, and service. Over his career, he has formally mentored more than 20 individuals and inspired countless others. His contributions to the profession, his community, and the COCPA landscape reflect the core values of leadership, service, and compassion.

Professor of Accounting and Law, Colorado Mesa University

olorado Mesa University’s Dr. Gary Hypes stands out as a true Everyday Hero in the COCPA community. With a rare blend of technical expertise, professional integrity, and genuine care for students, he has built a remarkable career that bridges academia, public service, and the accounting profession.

Gary’s passion for teaching is evident in the countless hours he dedicates to mentoring, coaching, and opening doors for future CPAs. Students credit him with inspiring their confidence, sharpening their professional judgment, and helping them define meaningful career paths.

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MAKING A DIFFERENCE CONTINUED FROM PAGE 5 Gary’s leadership extends beyond the classroom. He is deeply engaged in university initiatives, professional development programs, and outreach efforts that strengthen both the university and the larger accounting community. Driven by a commitment to service, he actively supports student organizations such as the CMU Accounting Club (of which he is the faculty advisor), faculty collaborations, and CPA pipeline efforts designed to grow the next generation of accounting professionals. Known for his strong ethical foundation, Gary approaches leadership with integrity, humility, and dedication. Whether offering guidance on complex accounting issues, encouraging students to challenge themselves, or contributing to community-focused programs, he leads by example, modeling the values that define the CPA profession.

complex financials into straightforward insights that strengthen organizations’ financial positions and help them grow. Hillary created a practice that serves clients’ multiple needs so they can focus on their programs and community impact. But she’s also built something equally important: a workplace culture where her team can thrive. By ensuring her team shows up fully with energy, dedication, and support, she’s created a business model that offers flexible, meaningful work opportunities for women and mothers while delivering exceptional service to mission-driven organizations.

His impact will be felt for generations through the students who he empowers and the profession that he continues to elevate.

2025 EVERYDAY HERO

Dan Seff, CPA, CVA 2025 EVERYDAY HEROINE

Hillary Morgridge, CPA

Managing Director, Morgridge Accounting Solutions

illary Morgridge stands out as an inspiring force in both Colorado’s nonprofit and accounting communities. She has served on the boards of five mission-driven organizations since 2018 – Impact 100 Metro Denver, RMC Health (which merged with Action for Healthy Kids), Action for Healthy Kids, Restoration Christian Ministries, and the Morgridge Family Foundation – contributing nearly 16 years of combined board service. Her dedication reflects a deep commitment to strengthening the nonprofit sector and expanding opportunities for those it serves. Since launching Morgridge Accounting Solutions in 2023, Hillary has already provided an extraordinary 416 pro bono hours to nonprofits. Her work ensures that organizations with limited resources can access high-level financial guidance, allowing them to maximize their impact in the communities they support.

an Seff embodies the spirit of an Everyday Hero through his unwavering commitment to the accounting profession, the business community, and the people of Colorado.

With decades of experience delivering tax, accounting, and consulting services to middle-market companies, Dan has earned a reputation as a trusted advisor and a transformational leader. Before joining CBIZ, Dan built and led The Seff Group, P.C., a respected firm known for its client-centered approach and dedication to small-business success. His leadership guided the firm through its successful acquisition by CBIZ in 2016, where he has continued to expand his impact on a national scale. As a senior leader, he consistently champions innovation, collaboration, and the development of future professionals in the field. Dan’s influence extends far beyond his professional achievements. Throughout his career, he has been an active and dedicated community leader. In the 1990s, he served on the board of the local Jewish Businessmen’s Association, supporting entrepreneurs through education, networking, and volunteer efforts.

Hillary’s leadership was shaped by early career experiences at Mile High United Way under the guidance of respected mentors. She later honed her expertise in nonprofit taxation at Eide Bailly, developing the deep technical knowledge that now anchors her practice.

His longstanding involvement with Jewish Family Services, Rose Medical Center — Denver’s flagship institution for women’s health — and the Kempe Foundation, which focuses on preventing and treating child abuse and neglect, reflects his commitment to improving the lives of others.

Her leadership helped establish the 501(c)(3) structure for Impact 100 Metro Denver, where she also served as treasurer. She also served as treasurer for RMC Health and continues her board service with Action for Healthy Kids. At the Morgridge Family Foundation, she contributed her expertise as a board advisor.

Known for his generosity, mentorship, and ability to bring people together, colleagues say that Dan is widely regarded as a natural leader whose contributions strengthen both the business community and the broader Colorado nonprofit landscape.

What sets Hillary apart is her distinct approach and her effort to prioritize people, sustainability, and mission impact. She focuses exclusively on not-for-profits and mission-driven businesses, bringing more than a decade of specialized knowledge to organizations navigating complex financial landscapes. Her tagline, “From Stewardship to Strategy,” captures her holistic philosophy: turning

Senior Managing Director and National Leader of Markets, CBIZ

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“His dedication, service, and vision make him an exceptional and deserving nominee for the COCPA Everyday Hero Award,” they write. “Dan’s impact will be felt for many years through the organizations he serves and the people he inspires.”

2025 WOMEN TO WATCH The COCPA Women to Watch Award shines a spotlight on women who are shaping the future of accounting, whether as rising stars (Emerging Leaders) who demonstrate leadership and have made significant contributions to the professional and their communities, or as established trailblazers (Leaders of Note) who are mentoring others, driving change, and pushing boundaries. We celebrate this year’s honorees for their accomplishments, their leadership, and their promise for what’s ahead. They remind us that leadership comes in many forms, and that a profession thrives when it draws on all of its talent and perspectives.

LEADER OF NOTE

Melissa Armstrong, CPA

Keely Gohl, CPA, CGMA

Founder and Fractional Controller, SteadyHand Accounting & Advisory

Founding Member, Favor Financial LLC

hose who know Melissa Armstrong describe her as a force of nature, not just in the accounting profession but also in her community. She is equal parts visionary leader, financial educator, community advocate, and “joyful disruptor of outdated norms.” As the founder of SteadyHand Accounting & Advisory, Melissa has built a bilingual fractional controller and advisory practice known for scaling businesses with clarity, precision, and a distinctly human touch. From early-stage startups to $500 million enterprises, Melissa’s goal is to bring structure without stiffness, and strategy without jargon. Melissa’s energetic, relatable approach has made her a visible thought leader both inside and outside the profession. She is a published author with the Entreprenista Expert Council, a frequent blogger on financial literacy for women entrepreneurs, and the engaging host of the podcast, “No Se Habla Taxes,” on which she demystifies tax topics with humor, accessibility, and just the right amount of sass. Her online presence is equally influential, championing the importance of marketing, visibility, and relationship building for accountants in a quickly evolving industry. Melissa is widely known for her commitment to lifting others as she rises. She mentors emerging business owners, teaching them to understand their financial data, make informed decisions, and cultivate peer networks that generate real profitability. One nominator shares that Melissa “doesn’t just teach people about their money; she shows them how to make more.” Her leadership extends into the greater community as well. She has served as board treasurer for Rocky Mountain Feline Rescue and as CFO for a health services nonprofit, consistently bringing compassion, rigor, and vision to every organization that she supports. Driven, generous, and endlessly creative, Melissa is reshaping what leadership in accounting looks like – empowering others, elevating the profession, and proving that financial literacy can be both impactful and fun.

here must always be someone blazing the trail for others, and for so many, that person is Keely Gohl. She has spent her career redefining what bold, innovative leadership looks like in the accounting profession. Keely made history early in her career at KPMG when she became the first professional in her office to successfully work a reduced schedule. She approached the challenge with characteristic determination, interviewing women who had attempted flexible schedules before her, learning from their experiences, and ultimately paving the way for a model that is now widely accepted in the profession. Her groundbreaking work was even featured in the Denver Post, cementing her place as an early champion of workplace flexibility and gender equity. Today, Keely continues to elevate the profession as a course designer and instructor for organizations, including the COCPA and AICPA. Her CPE topic expertise — spanning ethics, fraud, board governance, and communication — delivers practical, real-world insights that strengthen CPAs at every career stage. Retired COCPA CEO Mary E. Medley praises Keely as someone who is “determined to contribute to the betterment not only of those with whom she works, but also to her community at large.” Keely’s impact extends far beyond technical expertise. She has been a driving force behind the Women’s Summit Planning Committee, a dynamic presenter on multiple professional topics, and a generous contributor of pro bono teaching. Her community spirit shines in unexpected ways, such as helping save Douglas County High School’s after-prom event by securing a venue at the 11th hour, resulting in an event that students called “better than the prom itself.” For more than a decade, Keely served on the University of Denver (DU) School of Accountancy Board of Advisors, going above and beyond as a mentor, interviewer, and alumni liaison. Across her career, she has mentored dozens of professionals, guided students,

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MAKING A DIFFERENCE CONTINUED FROM PAGE 7 and supported colleagues through challenges — from creating cost-saving remote trainings during the Great Recession to helping DU pivot to virtual learning during the COVID-19 pandemic.

EMERGING LEADER

Colleagues describe Keely as a “courageous, articulate, and visionary leader — one whose influence continues to grow. She is an extraordinary and deserving recipient of the 2025 COCPA Leader of Note recognition.”

Entrepreneur and Problem Solver, Discovery Accounting, LLC

EMERGING LEADER

Stephanie Daniels, CPA, MAcc Assistant Controller, HCA HealthONE Presbyterian St. Luke's Resilience. Service. Leadership. These are just a few of the words you’ll hear when someone talks about Stephanie Daniels, and it’s these same qualities that have shaped her as one of the COCPA’s Emerging Leaders. Having followed a nontraditional path into the accounting profession, Stephanie brings a depth of perspective that enriches every team, committee, and community she serves. Her quiet grace, combined with her unwavering resolve, has made a lasting impression on colleagues, students, and aspiring CPAs. Stephanie has served as a steadfast COCPA volunteer – in many different capacities – for several years. A former COCPA scholarship recipient herself, she now reviews scholarship applications and serves on the Society’s Educational Foundation Board of Trustees. She also mentors scholarship winners, meeting with her mentees monthly to help them prepare for their next steps. Her guidance has helped young professionals launch successful careers, including those who she managed and coached during her time at RubinBrown. Outside of work, Stephanie has fostered several dogs through her local shelter, providing daily care and preparing them for adoption with their forever families. She gives back to her alma mater, the University of Northern Colorado, by supporting students and sharing her experience as a first-generation college graduate and former nontraditional student. Colleagues describe Stephanie’s leadership as rooted in courage and authenticity. During the COCPA Diversity, Equity, and Inclusion Committee’s See Me Series, she openly shared her personal journey, including her experience as a working single mother, first-generation college student, and kidney transplant recipient. She has also served as a panelist for the Future Business Leaders of America, inspiring students to pursue accounting and the CPA designation.

Tiffany Davis, CPA

iffany Davis is redefining what it means to be an innovative leader in the accounting profession. As the founder of Discovery Accounting, LLC, and a driving force within the COCPA’s Independent Accountants Alliance (IAA), Tiffany blends entrepreneurial vision with an instinct for technology-driven solutions that elevate both her clients and her professional community. Widely regarded as a forward-thinking strategist, Tiffany has embraced cutting-edge tools — especially artificial intelligence — to transform accounting workflows and introduce smarter, more efficient processes. She not only adopts advanced technologies herself but enthusiastically shares that knowledge with peers, helping her fellow IAA members to stay ahead of industry change. Her ability to translate complex technical concepts into accessible, practical insights has made her a standout thought leader in Colorado’s accounting landscape. Tiffany’s leadership within the IAA is marked by strong public speaking, motivational talent, and a commitment to meaningful professional development. She guides the Alliance with intention, curating high-value speakers, expanding program offerings, and fostering an environment where independent accountants can grow, innovate, and thrive. Her strategic direction has strengthened the IAA’s reach and relevance, making it an essential resource for practitioners across the state. Tiffany has served on multiple COCPA boards and committees, contributing her expertise to help shape the future of the profession. She is a dedicated mentor, devoting significant time to support emerging professionals as they navigate career decisions, clarify their strengths, and build practices that align with their values. Tiffany’s nominator calls her “a catalyst for progress — an innovator, educator, and leader whose vision is transforming the profession. Her contributions make her a truly deserving recipient of the COCPA Emerging Leader recognition.”

Stephanie is described as “a servant leader, mentor, and role model — truly an Emerging Leader whose influence strengthens the profession and her community.”

Always a highlight of the CPAs Make a Difference celebration, attendees offer cheers and high fives to welcome newly licensed Colorado CPAs to the profession. 8

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EMERGING LEADER

Astride Mukabagula, MSA, CPA Candidate Senior Audit Associate, GHJ

stride Mukabagula is a COCPA Emerging Leader whose story reflects extraordinary resilience, determination, and a profound commitment to serving others.

Having overcome significant adversity early in life — including experiences as an immigrant, a former foster youth, and a young mother — she has transformed every challenge into motivation to build a meaningful career and uplift her community. Today, she is a rising star in the accounting profession and a role model for women, immigrants, and first-generation professionals. As a senior audit associate at GHJ, Astride has advanced quickly thanks to her talent, grit, and strong technical proficiency. She specializes in nonprofit accounting and financial reporting, including some of the field’s most complex areas like federally funded organizations, single audits, and childcare compliance. Her colleagues commend her as someone who takes ownership on engagements, leads teams with clarity, and supports clients with professionalism and confidence.

Astride also shares her expertise generously, teaching audit concepts, training colleagues, and helping elevate her team’s overall performance. Her impact extends far beyond her firm. Astride volunteers both locally and nationally with foster care and immigration nonprofits — causes that are connected to her personal journey. She plays an active leadership role in GHJ’s Denver market, planning volunteer activities and building community within her growing office. She also engages in service through the broader accounting community, pursuing speaking opportunities and building relationships that strengthen the profession. Colleagues note that even while studying for the CPA exam, working full time, and raising two young children, Astride continues to lead with integrity, compassion, and unwavering commitment. She exemplifies the qualities of a true Emerging Leader: technical excellence, courageous advocacy, and a dedication to helping others. Astride is not only a leader to watch, but a leader who is already making a transformational impact.

That’s a Wrap: Inaugural PEAK Summit Brings Together Colorado Accounting, Finance Professionals

COCPA

COLORADO SOCIETY OF CPAS

Nearly 200 Colorado CPAs, finance leaders, and accounting professionals from across the state joined their colleagues for the COCPA’s inaugural PEAK: The Colorado Accounting and Finance Summit, held in November 2025 in downtown Denver. Featuring keynote speakers Terrell Davis, the celebrated former Denver Broncos running back, and noted leadership expert Amy Vetter, the two-day conference offered participants an immersive experience of learning, networking, and collaboration. Whether participants left with actionable takeaways on navigating the current business and legislative landscape, innovative leadership strategies to employ within their organizations, or newly forged connections with peers, PEAK offered something for everyone. We extend our sincere appreciation to the COCPA members whose time, insight, and leadership made the planning and execution of

PEAK a success: Diego Baca, Jim Brendel, Toby Clary, Tiffany Davis, Ann Eldridge, Paul Elggren, Mira Finé, Sarah Flischel, Scott Fowle, Jim Gilbert, Debbie Gilmore, Bruce Gray, Joe Hamilton, Kaitlin Heinz, Ellie Hume, Rachael Kaiser, Tom Koceja, Tiffany Knight, David Loucks, Robbin Mekelburg, James Miller, Erin Moore, Astride Mukabagula, Caitlyn O'Neil, Heidi O’Neil, Teresa Plaugher, Aaron Poley, Aimee Pourciau, Lori Anne Reinwald, Natalee Rodriguez, Alexandria Romero, Kim Ryan, Chris Salinas, Douglas Slaybaugh, Judy Thomas, and Blaise Wabo. Please contact Lindsay Moore at lindsay@cocpa.org if you’re interested in helping to plan the 2026 PEAK Summit.

Pro Football Hall of Famer and twotime Superbowl champion Terrell Davis joins COCPA Past Chair Diego Baca for a fireside chat at PEAK.

DATA ETHICS

Responsibly Navigating Data and Artificial Intelligence in Accounting BY NATALIE ROONEY

Data and artificial intelligence are transforming the accounting profession, offering powerful tools for insight and efficiency. But their use also creates new ethical challenges.

n today’s hyperconnected world, the proliferation of data and artificial intelligence (AI) are powerful tools, but they’re also potential liabilities. Every client interaction, financial transaction, and digital footprint generates information – much of it sensitive and personally identifiable. There is potential for significant negative consequences if developed and deployed without careful human and ethical oversight. For accountants, this flood of data represents a new opportunity to provide insight, efficiency, and value. How can CPAs manage data ethically, securely, and in compliance with an evolving landscape of privacy laws and professional standards? Ryan Orton, CPA, partner of AI and Data Services for RubinBrown, has 20 years of experience at the intersection of data, AI, and data transformation. He shares his expertise in technology and data, not just with clients, but through the Executive Education Programs at Berkeley Haas and The Wharton School. Orton says ethical data and AI stewardship begins with awareness. CPAs must understand how data is collected, stored, shared, and used within their own organizations, their clients’ organizations, and by external partners. They must also question whether consent has been properly obtained, whether data is being retained longer than necessary,

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and whether algorithms used in financial modeling or risk assessment introduce unintended bias.

A CHAIN OF PROBLEMS Data ethics refers to the principles and standards that govern the responsible collection, use, and dissemination of data to ensure fairness, accountability, and privacy. The goal is to use data in a way that protects individuals and respects their rights while still allowing for beneficial outcomes. Orton outlines key areas of concern: Consent Gaps Most people don’t understand what information is being collected about them and that it’s being sold. “Your data can be repurposed so far from its original purpose without your consent,” Orton says. “It’s shocking how many places your information is available. Once it has been sold, it can be used for something totally different than what it was originally captured for.” These “consent gaps” are one of the top areas of concern, of which organizations must be aware when dealing with data. “Ethical issues with data can creep up on people unknowingly,” Orton says. “Maybe an organization bought a marketing list and then aggregated it with data to verify employment. That can be a problem. You need consent from people to do that.”

Ownership Companies can get themselves into trouble whether they’re gathering their own data or purchasing it from a third party. “You can become part of the chain of problems,” Orton cautions. “You may not be using the data correctly.” Orton describes purchasing data from a data broker as a gray market. “You can buy it, but how you use it may be a problem. You’re not allowed to blindly email people who haven’t authorized you to email them.” Data Quality Quality of data is another important issue. “Data is often presented authoritatively, as if it’s been verified,” Orton says. “But you might have purchased from a broker outdated data that may not have much value to it. There’s a high risk that it may be of low quality.”

GUIDING PRINCIPLES Whether you or your clients are gathering data or you’re purchasing it from a third party, the following considerations serve as guidelines:

Security: Implement robust security measures to protect data from breaches, theft, and other threats. Regularly update security protocols to address emerging risks. Data minimization: Collect only the data necessary for a specific purpose. Avoid excessive or unnecessary data collection to minimize risks to individuals.

The use of AI comes with its own set of risks and preventative measures. Orton outlines several key issues of which to be aware: Lack of Opacity and Accountability

Source: MIT

Don’t let AI operate in a vacuum or take its result as the final word. Orton explains that when AI makes a business decision – maybe that’s denying credit or flagging fraud – users still need to understand why AI makes those decisions. “This is about being able to run your business with accountability, and you need some level of transparency as to what’s going on,” he says.

CREATING SYSTEMS OF CONTROL Orton says the AICPA is the go-to place for information as regulations evolve. Traditional frameworks, like that of the Committee of Sponsoring Organizations (COSO ), already cover issues such as security and authorization, segregation of duties, monitoring, and documentation, and are a helpful starting point.

Overreliance and Bias Toward Automation

Additional tips:

Relying on AI without adequate scrutiny puts you at risk, Orton says. “AI output looks authoritative. People miss contextual factors and errors the system didn’t capture.”

Privacy and confidentiality: Protect personal and sensitive information from unauthorized access. Implement measures such as anonymization and encryption to safeguard privacy.

He offers Open AI’s ChatGPT as an example because it sounds authoritative. Its answers are written with good sentence structure – and even provides positive affirmations to users – so it seems like it’s delivering the “right” answer. “But when you dig in, the results might only be 70% to 90% accurate,” he says.

Data integrity: Ensure data accuracy, consistency, and reliability from collection through analysis and dissemination. Avoid data manipulation or selective reporting. Accountability: Establish mechanisms to hold individuals and organizations responsible for ethical data practices. Address data misuse and breaches promptly and effectively. Fairness and equity: Avoid discrimination or bias in data practices. Ensure that benefits and risks are distributed fairly among different groups and communities. Responsible use: Avoid causing harm to individuals and communities.

• Data post-processing techniques: Adjusting the outcomes of AI models to help ensure fair treatment. • Auditing and transparency: Human oversight is incorporated into processes to audit AI-generated decisions for bias and fairness. Developers can also provide transparency into how AI systems arrive at conclusions and decide how much weight to give those results.

AI: A DIFFERENT SET OF ETHICAL RISKS

Informed consent: Obtain individuals’ voluntary and explicit consent before collecting data, and inform them how their data will be collected, used, and shared.

Transparency: Be open about data collection methods, purposes, and uses. Provide clear and accessible information to participants and other stakeholders.

• Fairness-aware algorithms: Coding rules and guidelines to ensure that the outcomes generated by AI models are equitable to all individuals or groups involved.

AI needs good, very specific prompts, he notes, adding that over-reliance on AI without applying professional judgment could spell disaster.

Human in the Loop. Orton advises following a policy of Human in the Loop (HITL) – meaning always applying professional judgment. “Most CPAs have enough wherewithal to apply judgment, but it’s also easy to not apply enough scrutiny and judgment to what you’re getting from AI.” Look for disparate impact. Have awareness of and be mindful that if your client is using AI for credit approvals, you should run a statistical sample. Is the result biased? “As auditors, we’re trained to do statistical sampling,” he says.

Bias can be mitigated through:

Awareness of systems of control extends to audit committees and boards. “Awareness is their fiduciary duty,” Orton says. “Board members need to be aware of data governance and ask the questions. What data is being used? Where does it come from? How is it protected from breeches? You don’t have to be an expert to ask reasonable questions. The first question should always be: What data governance do you have in place? If management can’t answer that, it’s a bad sign.”

• Data pre-processing techniques: Transforming, cleaning, and balancing the data to reduce the influence of discrimination before the AI models train on it.

Orton emphasizes that AI isn’t an information technology (IT) effort; it’s a business effort. “Only a small portion of AI is related to technology. AI is about driving business and strategic value,” he says. “This is a

Perpetuation of Historical Biases AI learns from historical data, which means it encodes past biases and inequities. One notable example: lending data. But whatever the data is in question, AI will replicate it under the veil of objectivity. “It makes it harder to detect and challenge,” Orton says.

CONTINUED ON PAGE 12 Winter 2026 | www.cocpa.org

DATA ETHICS CONTINUED FROM PAGE 11 c-suite-level problem – not just an issue for your CIO. CEOs and CFOs should be the drivers of data governance.”

RECOGNIZING RED FLAGS As CPAs work more frequently with data and AI, Orton says overconfidence can be dangerous “If anyone claims something is 100% accurate, it’s a marketing ploy,” he says. “AI is always less than that.” AI is just making predictions, he explains. “It doesn’t have the context of the industry or client problem. AI will never have the same context as a human. It’s not worthless, but judgment is so important. Does it tick and tie? AI gives you a leap ahead, but you can’t just follow it blindly. There’s a big difference in the context of what you’re doing, which is why those prompts are so important.” Undocumented claims with no validation, testing records, or change logs are all red flags. CPAs can put steps in place to help

mitigate the risk of using AI in the business realm by: • Having a governance process: This could be a technical board, a council, or even a single person who is deeply embedded in the process. • Using common sense: Ask reasonable questions. • Having a human in the loop: Don’t blindly accept what AI is telling you. Orton suggests implementing AI in limited use cases first. “Get accustomed to having a workflow process,” he says. “Don’t just go into ChatGPT and input client information. Ask questions. Follow through. ChatGPT is terrible at numbers, but if you review the data and have judgment, you can find errors, fix them, and move on.”

BEYOND CHECKING A BOX When it comes to the ethics of handling data and AI, Orton says CPAs are uniquely

positioned to lead by example, thanks to their training in governance, risk management, and regulatory compliance. Ultimately, the ethical use of data and AI aren’t simply compliance boxes to be checked off, but rather a critical component of professional integrity. As the volume and complexity of data continue to grow, so too does the expectation that CPAs will act as trusted stewards of digital information. The future of the profession depends not only on technical competence but on the ability to navigate the moral dimensions of a data-driven world. “AI is going to revolutionize every position, making people more effective,” Orton says. “It moves people into the role of strategic advisor. It will change the role of every CPA. I’m positive and bullish about it. It’s going to make all our lives significantly better.”

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AT THE CAPITOL AND BEYOND

Steering the Ship Together: How Advocacy Protects Colorado CPAs BY COLE BUERGER

hile government relations and advocacy may feel vague to professionals who are trained in hard rules and precise numbers, CPAs are, at their core, change makers, making advocacy a natural extension of the profession.

“Government” comes from the Latin gubernare, meaning to steer a ship, while “advocacy” derives from advocare, meaning to call for aid. Both concepts highlight what we, the COCPA, strive to do for Colorado CPAs: provide aid and steer the ship of policy in the right direction for the accounting profession in our state.

WHAT’S AT STAKE? Across the country, a shrinking pipeline of qualified CPAs, rapidly evolving workforce demands, shifts in technology, trends in alternative firm structures and challenges with succession planning, continuous adjustments to tax policies, and a tumultuous political and regulatory environment are placing significant pressure on the accounting profession. As a result, the need for strong advocacy has never been greater. This isn't merely about protecting professional interests; it's about ensuring that Colorado's businesses, nonprofits, and residents continue to have the trusted financial guidance they need to succeed. Through strategic government relations and collective engagement, we have the power to shape a more accessible, competitive, and sustainable future for accounting in our state.

FOCUS FOR THE YEAR AHEAD The new year brings significant opportunities, including efforts to modernize CPA licensure, monitor developments around artificial intelligence, and engage on tax administration issues. These initiatives demonstrate how proactive advocacy protects and strengthens the accounting profession while addressing the real-world challenges facing Colorado's economy. Central to the COCPA's current advocacy agenda this year is its proactive effort to modernize the CPA licensure process in Colorado through supporting proposed legislation that will create multiple pathways to licensure. The proposal represents a thoughtful approach to addressing workforce shortages while maintaining rigorous professional standards. By allowing candidates to choose the balance of verified work experience and relevant college credits that works best for them, the proposal responds to current workforce demands. This change isn't about lowering standards; it's about acknowledging that multiple paths can lead to professional excellence while making accounting a viable career choice for a broader pool of candidates.

NewsAccount | Winter 2026

The stakes extend far beyond individual career paths. Colorado's economic health depends on having an adequate supply of CPAs to provide oversight, financial accountability, and trusted advisory services. This initiative is simultaneously about economic mobility, workforce readiness, and protecting the public interest. As this effort moves forward, I look forward to providing updates across COCPA’s communication channels.

YOUR ENGAGEMENT IS CRITICAL Building relationships with elected officials and regulatory agencies is foundational to ensuring the success of our agenda and the profession's future. As the COCPA’s first Director of Government Relations and Advocacy, I am laser focused on making the profession impossible to ignore at the State Capitol and working on behalf of our members with the State Board of Accountancy, the Department of Revenue, and other venues. But advocacy isn't a spectator sport. It requires active participation and rewards strength in numbers. Whether experiencing the legislative process firsthand, at events such as the Jan. 27 PAC the House , or contributing to the CPA Political Action Committee (CPA-PAC), which supports legislators who champion policies that benefit the profession, your participation demonstrates the strength of our professional community. Every conversation with a legislator, every contribution to the CPAPAC, and every moment spent writing to your legislators, testifying at the Capitol, or providing public comment at public meetings held by relevant agencies reinforces the fact that accounting professionals have earned their seat at the policy table. By engaging in government relations and advocacy today, we're not just solving immediate problems — we're paving the way for generations of future CPAs who will continue serving as trusted partners in Colorado's economy.

WORKING FOR YOU Whether navigating a challenge with the Colorado Department of Revenue, seeking guidance from the State Board of Accountancy, or influencing pending legislation, the COCPA stands ready to amplify concerns and advocate on behalf of members. Together, through strategic advocacy and active engagement, we can expand access to our profession, maintain excellence in standards, and keep Colorado competitive in the national landscape. The strength of our profession depends on our willingness to help steer the ship of policy toward a brighter future. Cole Buerger joined the COCPA staff as its Director of Government Relations and Advocacy in October 2025. Reach him at cole@cocpa.org.

Winter 2026 | www.cocpa.org

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PROFESSIONAL EXCELLENCE

COCPA Member’s Innovative Firm Structure Draws National Attention BY NATALIE ROONEY

Zeb Smith, CPA, began his accounting career as an auditor, and after launching and transforming his own firm, he has become a model for innovation. He shares his simple approach to living his “why” – which has landed him on CPA.com’s list of innovative practitioners three years in a row.

ork smart. Have fun. Make money. It’s really that simple, according to Zeb Smith, CPA, and it’s a concept that appears to be working.

What drove them to join? Clients said they wanted to network, interact with their peers, and glean advice from speakers like Smith himself, who had been traveling and speaking at trade shows.

HANGING OUT HIS SHINGLE

“I started thinking, ‘Why don’t I just create that same environment, but we’ll offer those opportunities to our clients every other week,’” he says. “We know the niche industry and the challenges they face.”

After spending four years in public accounting, first in Denver and then Durango, Smith was ready to get back to nature and a smaller town. In 2016, at age 27, he opened Zebulon, LLC, a local bookkeeping and tax service in Durango, and has since returned to his hometown of Gunnison. But even when working for himself, Smith felt like something was missing. “I wanted to help people in an advisory role,” he says. Many of Smith’s early clients were outdoor outfitters – rafting, snowmobiling, and ATV guides. Being an outdoor enthusiast himself, the work resonated with him, and he spoke their language. “They were receptive to my advice and achieved great results,” he says. It was the perfect springboard to finding his niche.

THE TRANSFORMATION In 2019, Smith – a three-time nominee for CPA.com’s Innovative Practitioner Award – began to transform his firm to work solely for outdoor adventure outfitter clients to help them work smart, have fun, and make money. The concept – and the firm – took off. One of the first steps Smith took was to segment his audience. “I looked at who was producing our desired outcomes and revenue,” he says. He also examined which clients really resonated with him. Smith used “pumpkin planning,” a business strategy that focuses on growth by nurturing a core strength, similar to how a farmer grows one giant pumpkin from a vine. This involves identifying your business's "sweet spot"— the intersection of what you do best, what your best clients value, and what sets you apart — and then systematically growing that niche by trimming "bad pumpkins" (less profitable customers and inefficient processes) and focusing all resources on the great pumpkin. “It was about finding those target clients and then asking what would be most helpful for them,” Smith explains. “We asked about their challenges.” A key turning point in the firm’s evolution came when Smith asked clients about their membership in America Outdoors, a national trade association for the outfitting and outdoor recreation industry.

NewsAccount | Winter 2026

It was the proverbial lightbulb moment.

Smith knew he could address many of the critical issues outdoor outfitters face. Profitability was an obvious area, but he also felt he could provide support for the “people” factor – helping clients engage and retain employees while also building leaders and managers. “Happier employees mean happier customers,” he points out. “This is about knowing your target audience and building offers around things that are helpful to them. That’s the innovation.”

INNOVATION IN ACTION Smith’s firm has matured into a subscription-based retainer system, consisting of long-term, multi-year client partnerships. The firm’s clients are drawn by innovative programs that Smith and his team have developed just for them: • Professional services: Structured with a value-based, fixed-fee, monthly retainer, Zebulon’s team can “throw all they’ve got” at helping their financial planning and analysis (FP&A) clients. From pricing consults to analyzing spend, one-on-one business coaching, QuickBooks support, and whatever a client needs help with, Zebulon’s “no scope” service offer is the cornerstone of how the team helps clients work smart, have fun, and make money. As Smith puts it, “As professionals, if we’re not doing all we can to help our clients work smarter, grow their bottom line, and have more fun running their businesses, then we’re doing it all wrong.” It’s an approach that’s so simple, it works. • The Eddy: The Eddy is the outfitting industry’s only non-competitive leadership peer group, bringing growth-minded clients together on a recurring basis to share financial and sales data in confidence and teach a proprietary curriculum designed for seasonal businesses based on top MBA programs. Thanks to The Eddy’s nationwide member base, Zebulon clients can learn business best practices, adopt personnel management systems, and share ways to improve margins – giving clients

a unique competitive advantage, not to mention confidence in their business. • The Central Data Hub: Zebulon’s Central Data Hub compiles clients’ financial and sales data from myriad systems and platforms. The hub extracts trends from previously incompatible data sets, and the financial insights that it generates are crucial business tools for Zebulon’s beloved FP&A and Eddy clients that run seasonal, weather-dependent companies. Smith is accomplishing all of this with a team of four, all based in different areas of the country: Smith is in Colorado; Corey Jay handles marketing and graphic design from California; Kayla Vestal, in Missouri, is the firm’s data expert; and Robert Zinda, in Wisconsin, handles FP&A analysis. (Zinda is also in the process of earning his CPA credential.) “We’re all driven by the same desires to help our client base,” Smith says. “We’re all CPAs or MBAs. We love our audience, and we love to have fun. If we’re not having fun, we’re not doing our jobs right.” The firm’s innovative ideas aren’t limited to the Eddy and Central Data Hub offers. Employees work a 30-hour workweek with full benefits, and everyone works in a virtual environment. “We want our team to go do what they love and be with their families,” Smith says. “That reenergizes them vs. standing in front of a computer screen for 40 hours.”

MOVING BEYOND COMPLIANCE Innovation isn’t about a crazy idea or grand gesture. Rather, Smith says, innovation means slowing down and listening. “And then you’re not just addressing the mechanical issues, but the underlying issues,” he notes.

Two COCPA Members Named to Forbes' America’s Top CPAs List BY NATALIE ROONEY

o one was really surprised to learn that COCPA members Alexie Tune, CPA, managing director at Deloitte and current COCPA Board chair, and Jim Gilbert, CPA, managing principal of Jim Gilbert, CPA LLC, and current COCPA Board treasurer, had been named to Forbes Magazine’s 2025 America’s Top 200 CPAs list. No one, that is, except the two honorees. While both were aware of the list's existence, neither knew they were even being considered this year, let alone named to it. In fact, Gilbert had no idea he’d made the list until he read it on the COCPA website.

Ultimately, Smith says there’s nothing standard about his operation. “The whole thing has been innovative,” he reflects. “It’s about understanding your core values, audience, and people, and then building the offers and the systems around it.”

Tune, in turn, didn’t know until she received Gilbert’s email congratulating her on their joint recognition. “Honestly, I immediately wondered why I was on the list. There are so many talented CPAs out there,” she says.

Smith’s philosophy is that CPAs aren’t just here to ensure compliance. While it’s a pain point, that’s not why clients are trying to generate personal wealth. Rather, it’s the mouths they feed, the lifestyle, and supporting their people.

The Forbes article accompanying the 2025 listed notes, “The CPAs selected have all distinguished themselves through success at their firms, the advancement of their profession and by giving back to their communities, and each survived a review process that involved the research, evaluation, and rating of this year’s all-star, public practicing CPAs through nominations, direct outreach, recommendations, and

“When you lean into those things, and that’s truly what they want,” Smith says. “We can utilize our expertise, knowledge, and experience to help them.”

HOW THE LIST WAS COMPILED

What does it mean to be “the best” in your profession? Two COCPA members share their thoughts after being nominated to a national list of the country’s best CPAs. editorial review. But ultimately, each CPA earned the Forbes’ editorial imprimatur through trust.”

BEYOND TECHNICAL SKILLS Tune says that to her, being a “top CPA” goes beyond just the technical skills required, and touches on things like service, community, and giving back. “When you’re working with students, getting them engaged, and active with education and advocacy, it’s all part of the equation,” she says. Tune says her co-honoree, Gilbert, exemplifies all of those things. “He’s all about mentoring and bringing people into the profession,” she notes. “He gives a lot of his time to the COCPA. He’s extremely deserving of this recognition in so many different aspects, not just his technical work. He’s so engaged in the community.” Tune points to the importance of this kind of engagement, in both the local community and the CPA profession: “Having an outlook that’s broader than your day to day is key.” Gilbert says his family was so proud when he told them. As the first person in his family to go to college, he says his education and career have all been “bootstrapped and thanks to the good Lord’s blessing. The profession has been so good to me,” he says. “I like to give back. It’s rewarding.”

CONTINUED ON PAGE 19 Winter 2026 | www.cocpa.org

LEGISLATIVE UPDATE

Colorado Feels the Impact of One Big Beautiful Bill BY BRUCE M. NELSON, CPA, MA

hen I was young and we were doing tax returns on clay tablets in cuneiform, only a few adjustments were needed to get from federal taxable income to Colorado taxable income. But every year new adjustments, additions, subtractions, and decouplings are added so that today’s tally is longer than Santa’s Naughty List. Recent federal legislation - in particular the One Big Beautiful Bill Act (OB3) - continues the tradition this year. But before we look at individual provisions, it is important to understand the context – specifically the reasons why there is a difference between the federal and state tax base and how states, including Colorado, have addressed that difference. Under the principles of federalism, states are free to design their own tax systems. With respect to income tax, most states piggyback in some fashion on federal taxable income to simplify compliance and administration. There are limits to piggybacking off federal taxable income, including constitutional hurdles, differing policy objectives, budgetary limitations, economic differences, and, of course, political priorities. For example, constitutional limitations prohibit most states from imposing state tax on interest income earned on U.S. Treasury bonds. Interest from Treasury bonds is subject to federal income tax but not state income tax. Thus, such interest income must be subtracted from federal taxable income to arrive at the state tax base. States may also decouple from federal taxable income because of differences between national and state policy goals. Agricultural or energy-producing states may pursue policies that differ from national goals. Finally, federal tax changes can dramatically impact state tax revenues. Colorado is a good example. Colorado is a “rolling conformity” state; that is, it automatically and immediately follows federal changes. In Colorado, any

NewsAccount | Winter 2026

changes made to the federal law are immediately applicable to Colorado. In fact, line 1 of the Colorado individual tax return is “Federal Taxable Income from your federal income tax form.” Colorado is one of four states that piggyback off federal taxable income. The other three are Iowa, North Dakota, and Oregon.

$783 million. It was this estimated hole that prompted state legislators to reconvene last August for a special session. Some state legislators have shown interest in changing Colorado’s rolling conformity from federal taxable income to federal AGI, but Gov. Jared Polis has expressed opposition to the idea.

Most states begin with federal adjusted gross income (AGI) rather than federal taxable income. Federal AGI is calculated before subtracting any standard or itemized deductions, as well as the new tips, overtime, and passthrough deductions. As a consequence, those states begin with a higher income base in determining what people will pay in state income taxes.

The scope of rolling conformity was part of an earlier issue in 2020, when Colorado legislators (against the advice of their own Office of Legislative Legal Services) enacted legislation in response to the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. The legislation held that the state’s rolling conformity applied only to federal changes in effect in the taxable year in which they were enacted and to future years.

But because Colorado piggybacks off federal taxable income rather than federal AGI, the OB3 extension of the increased standard deduction alone was an immediate hit to Colorado’s projected budget for 2025-2026.

In short, the legislation was an attempt to limit CARES relief that applied retroactively to 2018. The legislation was preceded by an emergency rule promulgated by the Department of Revenue to the same effect.

It is important to remember that the state legislature enacted its budget of $43.9 billion in April for the fiscal year beginning July 1, 2025. Thus, the budget was calculated assuming the expiration of many of the Tax Cuts and Jobs Act of 2017 (TCJA) provisions, such as the qualified business income (QBI) deduction, the $10,000 state and local tax (SALT) cap increase, and declining bonus depreciation.

In 2020, the Colorado Court of Appeals held that both the Department’s emergency regulation and the state legislature’s bill were clearly inconsistent with the state’s conformity statute. [See Anschutz v. Department of Revenue, Colo. Ct. App., No. 2022COA132 (Nov. 17, 2022).]

In addition, no one anticipated the OB3 provisions regarding “no tax” on overtime or tips, the increased standard deductions for seniors, or deductibility of car loan interest -- all provisions that directly impact Colorado’s piggybacking off federal taxable income, but not states beginning with federal AGI. [See Schedule 1-A Additional Deductions for calculating the “No Tax on Tips,” “No Tax on Overtime,” “No Tax on Car Loan Interest,” and the “Enhanced deduction for Seniors” – all deductions from AGI.] OB3 was enacted on July 4, 2025, and according to the state’s nonpartisan legislative council staff, it was going to reduce state revenue by more than $1.2 billion, blowing a hole in the current year’s budget of between $680 and

Unfortunately, the emergency regulation, ensuing legislation, and legal challenge triggered widespread confusion among both tax practitioners and taxpayers about the state’s rolling conformity, which persists to this day. Given this background, it is no surprise that rolling conformity was not addressed last August in Colorado’s special legislation session. However, the legislature did make several changes that impact both 2025 and future returns.

HOUSE BILL (H.B.) 25B-1001 This bill extended the state’s QBI deduction addback. The QBI addback requires single taxpayers with AGI exceeding $500,000 and taxpayers married filing jointly with AGI exceeding $1,000,000 to add back any IRC §199A deduction taken on their federal return. There is an exception for taxpayers filing a federal schedule F or successor form reporting

profits and losses from farming. [CRS §39-22104(3)(o)]

Expected tax revenue from the bill should exceed $81 million.

The addback was scheduled to expire with the expiration of the TCJA provision, but since OB3 extended §199A, the addback has been extended as well. It is estimated that this change will generate more than $200 million over the next two fiscal years.

HOUSE BILL (H.B.) 25B-1003

HOUSE BILL (H.B.) 25B-1002 About 10 years ago, several states began adopting “tax haven” legislation that targeted certain countries that were presumptively tax havens being used to avoid taxation. Corporations incorporated in such countries are automatically included in a state’s tax return unless the taxpayer can prove to the satisfaction of the executive director that the corporation was incorporated in the jurisdiction for economic substance purposes as defined in IRC §7701(o). Colorado was one of about a dozen states to hop on this bandwagon, and this bill adds five more countries to the tax haven list: Hong Kong, Ireland, Liechtenstein, the Netherlands, and Singapore. [CRS §39-22-303(8)(b)] This bill also addresses OB3’s renaming of foreign-derived intangible income (FDII) to Foreign-Derived Deduction Eligible Income (FDDEI) and its revision of its related federal deduction percentage by requiring that an addback shall be made to Colorado taxable income for “an amount equal to the federal deduction claimed under FDDEI.” [CRS §3922-304(2)] Neither of these changes impacts 2025 returns because they only become effective for tax years beginning after Dec. 31, 2025.

Insurance companies with a home or regional office in Colorado pay a reduced rate of 1% on the gross amount of premiums sold covering Colorado property or risks. Effective in 2026, this bill eliminates that reduced rate, requiring all insurance companies to pay the regular 2% tax rate. [CRS §10-3-109(1)(b)] The change is expected to bring in a little over $125 million over the next two fiscal years.

HOUSE BILL (H.B.) 25B-1004 Beginning in 2026, the Colorado Department of Treasury may begin selling tax credits to corporations and insurance companies. Basically, the program allows Colorado businesses to prepay their tax liability at a discount. The credit purchase amount must be at least 80% of the requested dollar amount of credits. The sales are capped at the lesser of $100 million or credits with a face value of $125 million. Procedures are being developed for the program, so stay tuned. Will anyone be interested?

HOUSE BILL (H.B.) 25B-1005 As of Jan. 1, 2026, the state’s sales tax vendor fee is eliminated. The prior law allowed certain vendors to keep 4% of their sales tax collections, up to a maximum of $1,000 per filing period. When the Colorado sales tax was enacted in the 1930s, it was believed that a vendor’s fee was appropriate because it “reimbursed” Colorado vendors for collecting the sales tax on behalf of the state. After all, the thinking went,

the sales tax was a new imposition on vendors to become collectors on behalf of the state, so some small consideration seemed appropriate. We are told now, however, that software makes sales tax collection so easy that the fee is no longer appropriate. (Don’t get me started on how easy sales tax compliance is in Colorado.) More importantly, perhaps, is that the change is expected to bring in almost $85 million in revenue over the next two fiscal years. While the legislature did not anticipate OB3, it did anticipate President Trump’s proposal regarding overtime pay. House Bill 25-1296 creates an addback for any overtime compensation that is excluded or deducted from federal taxable income. [CRS §39-22-104(u)] Finally, as tax preparers we tend to focus on just those OB3 impacts that we see reflected on returns: bonus depreciation, QBI deduction, research and development expenses, §1202 stock, SALT cap, tax credits, and so on. It is important to remember that the bill also shifts new costs onto state government regarding Medicaid and food assistance that will strain state budgets, thus requiring either program cuts, new tax impositions, or additional addbacks to or decoupling from the federal tax base. Keep those clay tablets handy. You will need them. Based in Fort Collins, Bruce M. Nelson, CPA, MA, is a former COCPA and AICPA instructor with more than 35 years of state and local tax experience. His articles have appeared in the Journal of Accountancy, Tax Executive, Journal of State Taxation, and Colorado Lawyer, among others.

CONTINUED FROM PAGE 17 Gilbert and Tune have followed very different career paths – Tune through a Big Four firm, Gilbert through industry and technology, which makes him marvel a bit. “I took a different path,” he says. “How do you compete against rock-solid people who are in the Big Four? Alexie is amazing. I’m so proud of her. “I have really enjoyed taking a different career route and applying my CPA skills,” Gilbert continues. “I guess someone noticed!”

“THIS HELPS EVERYONE” Gilbert says it’s also humbling to make the Forbes list. “It fuels my passion even more. I’ve had so many people reach out – even from national-level groups I’m in – to say

‘good job.’ When someone raises the bar, now you have to keep it up there!” Gilbert says the COCPA deserves recognition from the honor, as well. “Two of us on the COCPA board were named. It’s a celebration of the people in the Society, the people we have working in the group, and a credit to the organization that we’re part of this journey.” Anything that highlights the many diverse things that CPAs do means great things for the profession, and Tune hopes that more young professionals see the recognition the profession receives and use it as part of their decision process to go on to earn their CPA license.

“You look at the world differently as a CPA,” she says. “You think about it more broadly from a business perspective. We’re trusted advisors.” “It’s an honor to be nominated,” Tune added. “There are so many excellent professionals who are deserving of the honor. It’s humbling to be included on the list.” Gilbert says when he mentors others, he always tells them, “Do what you love.” For Gilbert, that has meant being a CPA. “I tell people all the time, I could live three lives and never get through the ocean of opportunities you get from being a CPA. It’s a lifelong journey.”

Winter 2026 | www.cocpa.org

CPA PIPELINE

CMU Maverick Ripples Create Connection, Community for Accounting Students BY DR. GARY HYPES, JD, MBA, CPA (WV), CFE

While accounting concepts can feel abstract in the classroom, with debits, credits, and tax codes dominating the conversation, Colorado Mesa University’s (CMU’s) Accounting Club bridges the gap by offering students authentic professional experience and a connection to their community.

he CMU Accounting Club’s motto could easily be “small ripples create big waves.” What started as a modest student organization aimed at bringing together aspiring accountants has evolved into a dynamic, professionally focused community that connects students to the broader accounting profession across the Grand Valley, the state of Colorado, and beyond. From networking with partners in Denver’s major accounting firms to preparing tax returns for low-income families through the IRS’s Volunteer Income Tax Assistance (VITA) program, CMU’s Accounting Club creates hands-on, high-impact experiences that shape both professional skills and community values. The club’s activities reflect CMU’s Maverick spirit — bold, practical, and community driven.

BUILDING BRIDGES BEYOND THE CLASSROOM Accounting Club president Alleepra Stutzman finds value in the opportunity to connect with accounting professionals while still completing her education. “The club has helped reassure me that I am on the right path, and even though the coursework can be difficult at times, the industry is full of professionals who are excited to help us continue to learn and grow,” she notes. “Being a part of the club has helped me build these connections and has shown me how valuable it is to get involved now.” Each fall and spring, the club takes its annual Mavericks in the Mountains professional exploration trip, rotating among destinations such as Denver and Salt Lake City. These multi-day trips allow students to meet with professionals at public accounting firms, 20

NewsAccount | Winter 2026

private companies, and government agencies. Visits to firms such as Plante Moran and Eide Bailly are often on the itinerary, and it’s a highlight to hear from CMU alumni who are now working in the profession. The trips give students a front-row seat to see how accounting skills translate into diverse roles, from audit and assurance to tax, advisory, and forensic accounting. At the same time, they build networks that frequently lead to internships and job offers. For many students from western Colorado, this trip marks their first exposure to the scale and culture of major metro-area firms. Naturally, this is an opportunity for students to reflect on what career path they may choose, in what type of organization, and in what location.

COCPA PARTNERSHIP AND ONCAMPUS ENGAGEMENT The Accounting Club’s growing partnership with the COCPA has also been a cornerstone of its success, with CMU emerging as a hub for professional development on Colorado’s Western Slope. Over the past two years, the CMU Accounting Club has hosted continuing professional education (CPE) events on campus, bringing together local practitioners, faculty, and students for shared learning. These events have primarily focused on ethics and provide students with a window into the lifelong learning that defines the accounting profession. For many CMU students, participation in these events is their first introduction to the COCPA’s mission and member community. They see firsthand the value of belonging to a professional organization that fosters

advocacy, education, and connection among Colorado accountants. According to Steve Knapp, Accounting Club vice president, “The resources and time that the Society spends to ensure that I am supported in my journey to attaining my degree and CPA licensure are like having a friend by your side rooting for you to succeed. It’s priceless.” The Accounting Club also encourages student membership in the COCPA, which helps students access networking opportunities, scholarships, and student-focused initiatives. This early professional involvement helps students understand that accounting is not just a career; it’s a profession that is grounded in integrity, service, and community impact.

MEET THE FIRMS NIGHT: LAUNCHING PROFESSIONAL FUTURES Each November, the Accounting Club co-hosts Meet the Firms Night (MTFN), CMU’s largest annual recruiting event for accounting students. The event brings together accounting firms, corporate employers, government agencies, and nonprofit organizations from both the Western Slope and the larger Front Range. Students meet in person with partners, managers, and recruiters to discuss internships and full-time opportunities. Events such as the MTFN provide a relaxed but professional atmosphere that encourages genuine conversation, allowing students to showcase not only their résumés but also their personalities and aspirations. Club members play a role in organizing the event, from coordinating with visiting firms to mentoring underclassmen on effective

networking strategies. The club has also partnered with CMU Career Services and other university entities to hold events such as LinkedIn training, resume building, and professional headshot sessions. MTFN is a celebration of the Maverick community spirit, often coinciding with the Accounting Club’s annual Salvation Army toy drive, which reinforces the connection between professional success and community service.

LEARNING THROUGH SERVICE: THE VITA PROGRAM Underscoring the importance of giving back to one’s community, CMU Accounting Club members participate each spring in the IRS VITA program. Club members prepare and file federal and state income tax returns for local residents — particularly low-income taxpayers, the elderly, and individuals with disabilities. Students undergo IRS training and certification before volunteering their time to serve members of the Grand Valley community. Under faculty supervision, they complete tax work with professionalism and accuracy, learning about not only tax law and compliance but also empathy, confidentiality, and civic duty. The VITA program transforms students into problem-solvers and trusted community members while also creating the opportunity to build connections with local CPAs who volunteer their time with VITA.

Spiderman shows his Maverick pride at the CMU Accounting Club’s Plante Moran site visit.

return to speak with current students, sharing insights on career progression, CPA licensure, and the importance of work-life balance.

Several CMU alumni were on hand for the Accounting Club’s 2025 Eide Bailly site visit.

CMU Accounting Club alumna Ana Carbajal Barahona, now a newly minted CPA with DWC CPAs and Advisors in Grand Junction, spoke at the fall 2025 MTFN and appreciates the opportunity to share her journey with current students. “I’m so honored and grateful to be able to share my knowledge and growth with students now, because I know what it’s like to be in their seat and I learned so much from the peers who returned to help me,” she says. Eide Bailly partner and CMU alumna Kathy Cantu, CPA, underscores the value of student connection with those who are already working in the profession.

Many students describe VITA as the most meaningful part of their accounting education. For some, it even shapes their career paths, inspiring them to pursue tax practice, public service, or nonprofit accounting.

“Contacting professionals during your student career isn’t just about what you can gain; it’s about fostering a mutually beneficial relationship that can have a lasting impact on both parties,” she says.

The larger Grand Valley community feels its ripple effect as well: The 2025 filing season saw a 150% increase in completed returns over 2024.

She encourages students to reach out to those in the accounting community to ask questions and seek guidance. “It’s a win-win situation for everyone involved.”

CREATING A CULTURE OF PROFESSIONAL GROWTH AND PURPOSE

THE RIPPLE EFFECT

The CMU Accounting Club doesn’t measure success solely by the number of internships secured or credits earned. Rather, its purpose runs deeper: to cultivate future professionals who understand their role in promoting transparency, ethics, and service in the business world. This culture of growth is reinforced by close faculty mentorship and strong ties with the local business community. Alumni frequently

When CMU’s Accounting Club students graduate, they leave with more than a degree. They leave having sent a ripple that extends into firms, board rooms, nonprofits, and government offices throughout Colorado and beyond. Their experiences on trips, at Meet the Firms Night, in COCPA CPE sessions, through the VITA program, and in other ways collectively shape them into confident, ethical professionals. Each ripple contributes to the vitality of the accounting profession on the Western

Slope — and to the larger wave of integrity and service that defines what it means to be a Maverick. In a profession that values accountability and connection, CMU’s Accounting Club reminds us that the best accountants are not just number crunchers — they’re difference makers. Dr. Gary Hypes, JD, MBA, CPA (WV), CFE, is a professor of law and accounting at Colorado Mesa University in Grand Junction, where he also serves as faculty advisor of the CMU Accounting Club. Reach him at ghypes@ coloradomesa.edu.

The COCPA Emerging Professionals Initiative Committee (EPIC) unites students and emerging professionals through events, resources, and programs to support your professional growth. For more information, visit COCPA's EPIC web page .

Winter 2026 | www.cocpa.org

DE&I SPOTLIGHT

Difference Matters – And So Does How We Talk About It BY JIM BRENDEL, CPA

In today’s world, where conversations about identity, equity, and belonging seem increasingly difficult, author Brenda J. Allen’s book, Difference Matters: Communicating Social Identity, offers a thoughtful and illuminating guide.

r. Allen, the former Vice Chancellor for Diversity and Inclusion at the University of Colorado – Denver, invites all readers – students, professionals, and community members alike – to reflect on how difference shapes our everyday lives. Allen demonstrates that difference (by her definition, “ways that humans vary from one another based on social identity”) is not merely about demographic variety. It is about the ways that social identities – such as race, gender, class, sexuality, age, and ability – are constructed, communicated, and valued within systems of power. By examining communication as the mechanism through which these identities are enacted, Allen provides a framework for understanding both inequality and possibility. The book is organized around several key identity categories, each addressed in its own chapter: race, gender, social class, sexuality, ability, and age. Within each, Allen blends history, theory, and contemporary examples to show how identity is communicated both subtly and overtly. She highlights how stereotypes, language, and media representations reinforce power structures while also considering how individuals and groups resist these dynamics. Her reflections on how media perpetuates stereotypes feel especially timely in an era dominated by social media, where messages spread rapidly and widely.

A particular strength of this book is Allen’s personal voice. Drawing on her experiences as a Black woman in academia, she illustrates how identity is not only studied but lived. The book begins with a story about how Allen and a student exchanged emails prior to a class starting, with both making assumptions about the other’s identity prior to meeting each other based on their own respective past experiences. “Identity is not something we have – it is something we communicate,” she emphasizes.

ONE SIZE MAY NOT FIT ALL In her discussion of gender, Allen moves beyond definitions to explore how communication practices sustain workplace inequities and family expectations. Similarly, her chapter on race underscores how assumptions, coded language, and silence all serve as forms of racial communication. Throughout, she encourages readers to examine the ordinary interactions that make difference meaningful. One of Allen's most compelling arguments centers on the idea that social identities are not fixed categories but rather dynamic, intersecting aspects of who we are, which shift based on context and interaction. She illustrates how a person might feel their racial identity more acutely in one setting while their gender identity takes precedence in another. This intersectional perspective helps readers understand why simple,

one-size-fits-all approaches to diversity often fall short.

AN EMPHASIS ON COMMUNICATION What distinguishes Difference Matters from many diversity-focused texts is its insistence on communication as the central lens. Identity is not a fixed thing that people simply “have.” Rather, it is something people enact and negotiate in interaction. If we take this perspective, we can see that if communication is part of the problem, it can also be part of the solution. The book offers specific advice for various contexts – workplace interactions, educational settings, and personal relationships. Allen's suggestions for creating inclusive environments feel achievable rather than overwhelming. For instance, her recommendation to pay attention to who speaks, who doesn't, and why, offers a simple yet powerful way to begin noticing communication patterns that might otherwise go unobserved. Difference Matters contains frequent invitations to “pause to ponder,” which help the reader to reflect on the material. In each section, Allen provides a tool to help us cultivate the skills to facilitate communication. For example, tool No. 1 is curiosity. She explains why it is important and how we can become more curious. By emphasizing everyday exchanges – what is said, how it is said, and even what is left

CONTINUED ON PAGE 25 22

NewsAccount | Winter 2026

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TECHNOLOGY

Cybersecurity Isn’t a Tech Issue – It’s a Business Imperative for CPAs BY VINCE TINNIRELLO

It’s tempting to think that cybersecurity is just an information technology (IT) concern — something for your tech person to handle or a few tools that you install and forget. But for accounting professionals, especially those in small to mid-sized firms, cybersecurity is a business-critical issue that can directly impact client trust, operational continuity, and even the future of your firm.

ybercriminals are no longer just targeting the big guys. In fact, nearly half of all breaches affect small and mid-sized businesses. Why? Because they’re perceived as easier targets. They often lack in-house IT departments, don’t always have comprehensive security measures in place, and tend to rely on trust and reputation — two things that are difficult to rebuild after a data breach. And make no mistake: the financial data you manage as a CPA is a high-value target. Bank account information, Social Security numbers, tax IDs — this is gold for bad actors. Add to that the fact that many CPA firms operate with lean teams, share log-in credentials, and may use outdated systems, and you can see why cybercriminals see this space as ripe for exploitation.

THE REAL RISK ISN’T THE BREACH; IT’S THE FALLOUT For smaller firms, a cyberattack doesn’t just cause a temporary disruption. In many cases, it can shut down operations altogether. Seventy-five percent of small businesses say they couldn’t continue functioning if they lost access to critical data such as client files, tax documents, or billing records. That’s not a statistic to gloss over. Ransomware, phishing, and social engineering attacks have become more sophisticated — and more common. We’ve seen attackers impersonate software vendors, send fake IRS communications, or even use calendar invites to lure people into clicking 24

NewsAccount | Winter 2026

malicious links. What’s worse, these attacks often happen when your guard is down — over holiday weekends, during tax season, or while staff are on vacation. Insurance can help, but increasingly, cyber liability policies are only paying out if you’ve demonstrated that basic safeguards were in place. That means if your systems aren’t patched, if you’re using unsupported software, or if multifactor authentication isn’t enabled, you may be left footing the bill after an incident.

WHERE DO YOU DO START? Despite the growing threat landscape, building a solid cybersecurity foundation doesn’t require a massive tech overhaul. In fact, many of the most effective steps are relatively simple and budget friendly. Start by asking yourself: ”If we lost access to our data tomorrow, how long would it take to recover? Would we lose days? Weeks? Could we recover at all?” A strong backup solution is your safety net — but only if it’s isolated from your network and protected against ransomware. Talk to your IT provider about whether your backups are truly secure, and how fast you could get back up and running if needed. Next, make sure your systems are being patched regularly. Every time Microsoft releases a security update, they’re also giving hackers a roadmap of what to exploit. If your systems aren’t up to date, you’re basically inviting trouble in through the front door.

User access is another often-overlooked area. Too often, employees are given administrator rights on their devices, which means if their credentials are compromised, attackers have free rein. Restrict access to only what each person needs to do his or her job, and consider implementing tools that require approval for elevated access when needed. And then there’s multifactor authentication (MFA). Yes, it can be a slight inconvenience, but it’s one of the easiest ways to stop unauthorized access. Whether it’s your email, cloud-based tax software, or remote desktop, MFA should be turned on everywhere it’s available.

If so, you’ve done your due diligence and you’ll be in a much stronger position to recover. Cybersecurity doesn’t have a finish line. The tools evolve, the threats change, and the bar keeps rising. But with the right foundation and the right mindset, you can protect your practice, your data, and your reputation — while sleeping a little better at night. Based in Lone Tree, Colo., Vince Tinnirello is the business development manager at Anchor Network Solutions, Inc. Reach him at vince@anchornetworksolutions.com.

SECURITY IS A CULTURE, NOT A CHECKBOX All of this might sound a bit overwhelming, but cybersecurity is less about perfection and more about creating a culture of caution. Mistakes happen, and in most breaches, human error is the culprit. That’s why regular security awareness training is so important. Your staff should feel empowered — not embarrassed — to ask questions, report suspicious emails, and learn from missteps. In one recent phishing simulation, an employee received what looked like a legitimate LinkedIn update. He paused, flagged it to his manager, and it turned out to be a test — and he passed. These small wins matter because they build a more resilient organization over time. You don’t have to handle this alone. Work with IT partners who are invested in your business, not just your infrastructure. A good technology partner should be able to show you what they’re doing, help you prioritize next steps, and make sure you’re covered from multiple angles — firewalls, endpoint detection, encryption, email filtering, password management, and beyond.

IT’S NOT ABOUT FEAR; IT’S ABOUT READINESS At the end of the day, this isn’t about scaring you into buying more software or making security your full-time job. It’s about being prepared. Because cyber incidents aren’t theoretical anymore — they’re inevitable. What matters is how much risk you’ve reduced ahead of time and how prepared you are to respond when something happens. Think about how you’d explain a breach to your clients. Would you be able to say, “We had multifactor authentication in place, we trained our staff, we patched our systems, and we had a secure backup plan”?

ADDITIONAL RESOURCES

Anchor Network Solutions, Inc., offers comprehensive IT services and solutions, providing expert assistance in technology and networking for businesses of all sizes. COCPA members and their clients save 25% on onboarding fees and 10% on monthly service fees for managed IT and cybersecurity services. Learn more on the COCPA Member Savings Program page. Looking for an opportunity to connect with your COCPA colleagues to discuss technology, its impact on the accounting profession, and future trends? Click here or contact Stacy Svendsen at stacy@cocpa.org to learn more about the COCPA Technology Users Group.

CONTINUED FROM PAGE 22 unsaid – Allen highlights the agency that each of us holds. While systems of inequality are complex and deeply entrenched, individual communicative choices can reinforce or challenge them. This focus makes the book especially practical for readers who seek to make a difference in their workplaces, classrooms, or communities.

EXAMINING PRIVILEGE Allen’s treatment of privilege is insightful. Rather than approaching it as a source of guilt or shame, she frames privilege as a form of social capital that comes with responsibility. She encourages readers to

examine their own advantages – not to feel bad about them but to understand how they can be leveraged to create more equitable communication environments.

AN INVITATION FOR MORE Difference Matters is more than a primer on social identity. It is an invitation to cultivate awareness, self reflection, and responsibility in how we communicate. By demonstrating that difference is both inevitable and significant, Allen calls on readers to move beyond tolerance toward engagement – recognizing that communication can reinforce inequities but also open pathways to greater understanding and justice.

As Allen reminds readers, “Difference is not a barrier to overcome, but an opportunity to engage more fully with one another.” Retired Moss Adams partner Jim Brendel is active in the community as a volunteer, board member, and audit committee member, and serves on the COCPA Diversity, Equity, and Inclusion Committee. Reach him at jim.brendel1@outlook.com. To learn more about the DE&I Committee’s activities, contact Stacy Svendsen at stacy@cocpa.org.

Winter 2026 | www.cocpa.org

CAREER CHRONICLES

Assume That Others are Doing Their Best BY A. TOM HALL, CPA, CFA

Amidst your interactions with others, you have control over your perceptions. Assuming the best about others can make all the difference, both professionally and personally.

ne day, when I worked at Deloitte several years ago, I was out at a client site. I checked my company voicemail and heard a message left to all audit staff by the audit scheduler, a woman named Kathy. I knew Kathy fairly well. She was a wonderful, friendly, and capable scheduler and an overall good person. She was asking for a volunteer to perform an inventory count on a particular date, and she kindly suggested that if she got no volunteers, she might have to “volunteer” one of us herself. It seemed like a perfectly normal voicemail, and I thought nothing of it. Less than 15 minutes later, however, a colleague who was with me at the client site checked her own voicemail and heard the exact same message from Kathy. My colleague hung up, then asked me and the others on the team, “Hey, did you hear that snotty voicemail from Kathy? I didn’t like her tone.” I was puzzled. Surely, she couldn’t have been referring to the same voicemail from Kathy that I had just heard. But, in fact, she was. So, I listened to the voicemail again, convinced that I had missed something in Kathy’s tone. I had not. Kathy sounded just as nice and charming as she had the first time I heard the message. This experience has stuck with me for almost 30 years. It taught me that two people can experience the exact same stimulus and come away with vastly different perceptions of what they saw or heard. My colleague and I listened to the exact same voicemail – on the same day and

NewsAccount | Winter 2026

from the same location, only 15 minutes apart – and yet her experience was completely different from mine. Mine was positive (or at worst, neutral), yet hers was certainly negative. What leads to these decidedly different perceptions of the same experience?

TAKE CONTROL OF YOUR PERCEPTIONS There’s a simple verse from Scripture that comes to mind: “Seek and ye shall find.” I’ve concluded that if you’re looking for the negative in some situation or with some person, you will surely find it. However, when you instead look for the positive or the good, you will find that as well, because good is all around you. It might be helpful when we perceive something or someone as negative to ask the question I once saw on a bumper sticker: “What part of your reality is just your imagination?” Depending on our mood or current circumstances, we all occasionally imagine things that aren’t really there. I’m convinced that Kathy’s intentions were only good with her voicemail. I’m convinced that she was doing her best. Now, let’s imagine for a moment that Kathy really did have a rude tone in her voicemail. My advice stands: Give her the benefit of the doubt. Assume she was trying to do her best but perhaps she was having a bad day or going through personal difficulties. Have you ever been rude or obnoxious or said something unkind, likely without knowing it? In that instance, didn’t you want someone to give you the benefit of

the doubt? We frequently jump so easily to the worst possible conclusion.

ASSUME THE BEST There is a maxim called “Hanlon’s Razor” that goes like this: “Never attribute to malice that which is adequately explained by stupidity.” As we go through life, we will all come across seemingly obnoxious, rude, and uncaring people. Most of them aren’t bad people; they’re likely just ignorant. Maybe they’ve been deprived or ignored or weren't raised well. Maybe they just don’t know any better. Or, perhaps far more likely, they are wonderful people who are simply having a rough day and aren’t behaving at that moment as their best selves. Don’t get angry with them, and certainly don’t let them ruin your day. Rather, respond in the kindest and most generous way possible. This is especially important during tax season and other busy times, when stress is high and patience and tempers can be short. Look for the good in all that you see. Give those around you the benefit of the doubt, and assume that everyone is doing their best in any given situation. Working on this takes effort. It’s hard, but it’s definitely worth it. With substantial experience in both public accounting and industry, Tom Hall, CPA, CFA, is a Professor of the Practice with the University of Denver School of Accountancy, and a regular contributor to NewsAccount. Reach him at tom.hall@du.edu.

PROFESSIONAL COMMUNITY Know any of these members? Reach out and welcome them to our community!

Welcome, New COCPA Members The COCPA welcomes the following new members, who joined between September and November 2025.

Visit the COCPA Member Directory at cocpa.org/member-directory.

FELLOW MEMBERS

STUDENT MEMBERS

Cynthia O'Neill Audrey Martha Anzai Kapetanovic Sakar Pudasaini Gary Bayer Conor Kelleher Debra Reeves Philip Blane Kara Kettelkamp Hannah Renault Charles Bryson Taylor King Danielle Preston Buscher Scheunemann Alison Kramer Sabrina Craven Julia Secor Michael Laudato Darren DeLaCroix Stephanie Seiberg Jacqueline Deveric Ethan Layman Jonathan "Jack" John Lee Jeffery Doyle Slimm Johnny Lozano Cody Ernst Lane Sorensen Kendra Male Marissa Firstenberg Marcio Stewart Benjamin Marks Cody Franz Zachary Street Melita Mascarenhas Kirsten Goldenberg Charlotte Suttner Carla Mattsson Adam Griffith Alec Tanaka Rachel Guttenberg Brandon Moore Jennifer Tyus Kyra Mourey Haley Hagen Megan Warnecke Robert "Rudy" Anna Hancharova Caroline Wright Murdock Jason Howard Angela Zahniser Timothy Neal Altaf Hussain Wens "Catherine" Nicole O'Dwyer Zhang

Maria Abundis Valladares Lauren Ackein Dhananjay Agrawal Kristi Aguon Nandhini Aravamudhan Raymond Ashieyi-Ahorgah Avery Aubin Dolores "Lorena" Baez Alex Bagnulo River Brooks Austin Burkes Ivanka Copic Matthew Cordell Dylan Crowder Kara Daniels Nick Davies Tarica Davis-Diamond Alpha Deloach Jackson Detlefs Brooke Drake Keith Dunrud Marieke Flynn Kathryn Frasier Benjamin Gehre Aidan Gilbreth Maya Gray Emma Hanagan Kenli Herrera Alec Hetherington Thomas Hill Adriel Huizar Martinez Lauren King Jenna Koehler Noah Kroencke

ASSOCIATE MEMBERS Mark Ahern Mickele Bragg Cynthia Green Dan Horvath Santha Koehn Anastasios "Tassos" Mallis

Christopher McGowan

Laura Rauwerdink

Georgiana "Ioana" Muller

Brian Salinas

Christopher Nelson

Corby Williams

Grant Paschke Joann Quan

Beth Reilly Bob Stegall Michelle Zink

Grace Levakin Charlie Levine Isaiah Littlefield Adina Lobato Paige Lyons Braiden McCann Bridget McElligott Karli Montini Anastasia "Stacey" Moore Brody Moore Kristiana Morales Yaritza Morfin Romero Karen Munro Edward Mutegi Triston Nostrand Margaret O'Neill Pelasio "Sio" Petelo Zane Prevedello Brock Ramirez Lucas Sanchez Diana Saucedo Trenton Scism Jorge Silva Avery Sparenberg Morgan Steinpreis Skylar Stone Phihung Than Emmie Thompson Eden Trujillo Ben Weiner Katie Whiting Isabel Williams Karissa Zeigler Irina Zigray

Winter 2026 | www.cocpa.org

COMMITTEE DIGEST

Updates and Opportunities Related to COCPA Committees, Working Groups, and Boards INDEPENDENT ACCOUNTANTS ALLIANCE Helping Guide Your Business. Your Network. Your Future.

In October, Independent Accountants Alliance (IAA) members met at the COCPA’s new office to discuss and compare approaches to firm domain credibility and compliance, pricing strategy, and scope management, with an emphasis on communicating expectations up front and documenting them clearly. In December, the group met in person to hear from Patricia Hendrix, practice advancement coach at Woodard, who shared Woodard’s Ideal Practice Model. Join this active and engaging group for its monthly meetings, held online, in person, and in a hybrid format. Visit the IAA web page for more information on upcoming meetings and events, along with a list of recommended resources.

MEMBER CONNECTIONS COMMITTEE In October, the Member Connections Committee (MCC) joined the Financial Planning Association of Colorado, the Risk Management Association, and IMA to host Finance and Friends. The event brought together more than 50 CPAs, financial planners, risk managers, and business leaders for an evening of connections and conversation.

COCPA ON THE WESTERN SLOPE In October, Colorado Mesa University (CMU) hosted members of the Western Slope accounting community – including COCPA members and CMU accounting students – for a Lunch and CPE ethics session, followed by a social event, Mix and Mingle, at Moody’s in Grand Junction. Be on the lookout for future Lunch & CPE meetings and Mix and Mingle events, designed to enhance learning, share solutions, and connect with colleagues in the area.

In November, the committee kicked off PEAK: The Colorado Accounting and Finance Summit with a game night, featuring board games, card games, appetizers, and beverages. Many thanks to those who joined us for some old-school fun! Visit the MCC web page to learn more about this group and how to get involved.

NONPROFIT WORKING GROUP Many thanks to those who donated gently used professional clothing to the Nonprofit Working Group’s clothing drive, held at PEAK: The Colorado Accounting and Finance Summit. Roughly 50 pieces were collected for the benefit of Clyde’s Closet at the University of Colorado – Colorado Springs. Clyde’s Closet provides free career wear (pants, tops, dresses, jackets, even ties and shoes) for UCCS students and alumni – great for creating a professional look at job interviews, career fairs, and other events. Visit the Nonprofit Working Group web page to learn more about this group's activities. 28

NewsAccount | Winter 2026

MOVERS & SHAKERS

TECHNOLOGY USERS GROUP

Tammy Rivera, CPA, was named to Forvis Mazars LLP’s U.S. Governing Board. Rivera is the managing partner of the firm’s Colorado-Salt Lake practice unit.

PEAK: The Colorado Accounting and Finance Summit Many thanks to the speakers who shared their knowledge and insights at the many technology-focused sessions that the Technology Users Group (TUG) presented and sponsored at November’s PEAK: The Colorado Accounting and Finance Summit. Sessions shed light on timely topics such as incorporating generative AI into daily workflows, getting the most from data mapping and warehouses, executing cybersecurity and compliance, developing technology strategies and embracing innovation, and the ins and outs of SOC 1 and SOC 2 attestation reporting.

Sarah Flischel, CPA, and Alexandria Romero, CPA, CGMA, MPAcc, were named as AICPA and CIMA 2025 AICPA and CIMA Global Women to Watch honorees, in the Emerging Leader category. Flischel, who is based in Denver, is Audit Director, Transformation and Training, with AAFCPAs. Based in Pueblo, Romero is a Governmental and Leadership Training Facilitator with Galasso Learning Solutions.

Jennifer Weber, CPA, was promoted to partner with RLR LLP, Greeley.

Our thanks, as well, to those who attended the PEAK technology sessions. We look forward to seeing you at future technology-focused programming. Anchor Network Solutions TUG presented a free, one-hour CPE session during December’s COCPA Member Appreciation Days. The program, “Securing Your Business in the Age of AI,” featuring Anchor Network Solutions’ Jacee Dobbs, explored how modern cybersecurity practices and emerging artificial intelligence technologies intersect.

Our thanks to COCPA member Marc Hendrikson, who year after year has demonstrated his commitment to the accounting profession by representing the COCPA at the Adams County Education Consortium’s 8th Grade Career Expo.

For more on cybersecurity, see page 24 for the article, “Cybersecurity Isn’t a Tech Issue – It’s a Business Imperative for CPAs,” by Anchor Network Solutions’ Vince Tinnirello.

Each year, including this past September, Marc visits with eighth-grade students from eight school districts in Adams County, sharing his boundless enthusiasm for the profession and educating them on the many career paths that an accounting degree affords.

Join TUG Today Led by COCPA Board Treasurer Jim Gilbert, CPA, CITP, CGMA, TUG holds monthly online meetings, as well as quarterly, free, one-hour technology-focused CPE events. Join this insiders group today and be part of the conversation on all things technology. Learn more by visiting the TUG web page.

The 8th Grade Career Expo serves as a pivotal introduction for students to professionals representing various career options – especially valuable as research shows that middle school is the most opportune time in education for career guidance. “I love this stuff – the kids totally energize me,” enthuses Marc, who is senior vice president, Contract and Commercial Banking, with Sunflower Bank in Broomfield.

SHARE YOUR EXPERTISE! Get Involved with Committees, Groups, and More

The COCPA offers numerous opportunities for members to grow their professional and personal networks with like-minded colleagues through committees, groups, roundtables, and special programs. Get involved to help shape the future of the COCPA and enhance your professional experience. Click here to learn more.

SHARE YOUR NEWS! Do you have good news to share about your organization, such as a staff promotion, award, or new hire? Send your Movers & Shakers announcements to Kelli Davis at kelli@cocpa.org.

Winter 2026 | www.cocpa.org

CLASSIFIEDS SELECT BUSINESS GROUP WE CAN SELL YOUR PRACTICE. Over 60 practices sold. Centennial tax practice for sale: retiring CPA, revenue $202,941, seller financing. Contact Fred Mehring, Select Business Group 303.771.3100 or fmehring@selectbg.com

POE GROUP ADVISORS Poe Group Advisors is pleased to present two well-established and highly profitable Colorado accounting practices currently available for acquisition. For more information visit poegroupadvisors.com or email cpoe@poegroupadvisors.com. Denver Metro CPA Firm — CO2003 Asking Price: $799,000 Key highlights: • 50%+ cash flow (over $350,000) • Owner hours: only 1,050 hours/year (very low owner time requirement) • Average 1040 fee: $3,000 • Long-term, loyal clients — many are high-end professionals, especially in real estate • Well-balanced workload and steady year-over-year revenue growth • Staff and owner have remote work capabilities, though the business currently requires in-person management

SELLING YOUR PRACTICE IN 2026 OR LOOKING TO PURCHASE A PRACTICE? LET’S TALK! Our brokers at Accounting Biz Brokers offer 32 years of combined experience, we know how to simplify the sale of a CPA firm using our proven, personalized, and confidential processes to bring you the results you are seeking. As Certified Business Intermediaries, we’re dedicated to providing a seamless experience, combining professional wisdom with a personal touch. Our brokers are the only Certified Business Intermediaries (CBI) specializing in the sale of CPA firms in the country. When you are ready to sell, we have the buyers, financing contacts and the experience to assist you with the successful sale of your firm. Contact us TODAY to take the first step. Kathy Brents, CPA, CBI, at 866-260-2793 or Kathy@AccountingBizBrokers.com, or visit our website at www.AccountingBizBrokers.com.

CURRENT LISTINGS: Fort Collins Virtual Gross $225k (NEW) SW Colorado Gross $220k (NEW) Colorado Based Virtual Payroll Service Gross $703k (Sold) Albuquerque, NM Virtual Gross $730k (Sale Pending)

• No formal marketing is done — significant organic growth opportunity View the full listing: poegroupadvisors.com/practice/co2003/ West Denver Metro — Two-Partner Firm — CO2004 Asking Price: $1,250,000 Key highlights: • 2024 cash flow to owners: $396,000 (exceeds 40%) • 2025 projected revenue: $1.1 million • Fully staffed with an experienced team in place • Strong reputation for tax expertise and personalized client service • Loyal, community-rooted client base spanning a variety of industries including high-net-worth individuals • Many clients prefer in-person interactions (document dropoffs, face-to-face appointments) — excellent fit for a buyer valuing community presence • Attractive combination of profitability and stability View the full listing: poegroupadvisors.com/practice/co2004

NewsAccount | Winter 2026

IN MEMORIAM We extend our sympathies to the family and friends of the following former COCPA member: Michael S. Bansek Hartsel, Colo., member, 1988-2023

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8am customers experienced 22% increase on average in revenue per firm Winter using online billing solutions 2026 | www.cocpa.org

Earn CPE Credit for Reading NewsAccount The COCPA is pleased to offer CPE credit for NewsAccount readership. To take advantage of this free member benefit, simply read the winter issue and register for the NewsAccount CPE self-study opportunity. Once logged in, you’ll be asked to complete the following online quiz, which reflects the content of the issue. Please note, question language and sequence may vary slightly.

Participants must earn a score of 70% or higher in order to receive CPE credit. NewsAccount exams are worth one credit hour each, for a maximum of four credit hours annually. 1. Which national organizations’ approaches have COCPA leaders studied as they’ve explored their advocacy of possible new pathways to CPA licensure? a. FASB and PCAOB b. IRS and Department of Education c. AICPA and NASBA d. SEC and Federal Reserve

4. What prompted Zeb Smith to transform his firm to focus solely on outdoor adventure outfitter clients? a. He wanted to expand into international markets b. He received a grant to serve outdoor businesses c. His early clients in the industry were receptive to

his advisory role and achieved great results d. He sought more public speaking opportunities

on the national stage

5. Which of the following best describes “pumpkin planning,” the strategy that Zeb Smith used to grow his firm? a. Expanding rapidly into as many industries as

2. According to the article by Cole Buerger, why is member engagement in advocacy efforts so important? a. Advocacy activities are mandatory for

maintaining CPA licensure b. Engagement ensures compliance with State Board of Accountancy rules c. Advocacy is most effective when supported by active participation and strength in numbers d. Engagement replaces the need for professional standards enforcement

3. What distinguishes Colorado from most other states in determining its state income tax base? a. Colorado begins with federal adjusted gross

income (AGI)

possible b. Hiring large numbers of CPAs to increase

capacity c. Offering discounted services to attract a broader

client base d. Focusing on a business’s “sweet spot” and

nurturing its niche while trimming less profitable clients

6. According to Alexie Tune, which of the following is an important component, beyond technical expertise, of being a “top CPA”? a. Community engagement, service, and giving

back b. Earning high salaries and industry awards c. Big Four firm experience d. Building personal brands on social media

b. Colorado uses a fixed conformity date for federal

tax law c. Colorado piggybacks on federal taxable income

rather than federal AGI d. Colorado does not conform to federal tax law

7. What distinguishes Difference Matters from many other diversity-related texts, according to the article by Jim Brendel? a. It focuses primarily on historical inequality b. It emphasizes communication as the central lens

for understanding identity

c. It categorizes people based on measurable

demographic traits d. It discourages discussion of difficult identity topics

8. How does author Brenda Allen encourage readers to think about privilege? a. As something to feel guilty about b. As unrelated to communication practices c. As a form of social capital that comes with

responsibility d. As a personal flaw that should be hidden

d. By focusing exclusively on classroom-based

accounting tutorials

12. What is a key benefit students gain from participating in the IRS Volunteer Income Tax Assistance (VITA) program? a. Hands-on tax preparation experience serving

local community members b. Experience completing audits for small

businesses c. Training in advanced forensic accounting

techniques d. Guaranteed placement in a tax internship the

9. What ethical concern does Ryan Orton highlight regarding “consent gaps”? a. Data can be repurposed far from its original use

without individuals’ knowledge or approval b. AI systems often provide inaccurate data quality metrics c. Individuals may not understand how to request their data back d. Companies cannot legally purchase data from brokers

10. Why does Orton stress the need for a “Human in the Loop” (HITL) approach when using AI? a. AI systems are fully unbiased and require no

oversight b. Only IT departments can interpret AI output

accurately c. AI may produce authoritative-sounding results

that still lack context and accuracy d. Human review slows the decision-making

process, improving data security

11. What is one of the primary ways CMU’s Accounting Club helps students connect with the accounting profession? a. By offering fully online certification courses b. By hosting annual professional exploration trips

to meet with CPA firms and organizations c. By requiring students to complete internships

before graduation

following summer

13. According to author Vince Tinnirello, which cybersecurity measure has become essential for cyber insurance payouts? a. Using only paid software b. Employing a full-time IT team c. Encrypting every piece of email communication d. Demonstrating that basic safeguards, such as

patching systems and enabling multifactor authentication, were in place

14. Why are small and mid-sized CPA firms increasingly targeted by cybercriminals? a. They typically store less valuable financial data b. They are seen as easier targets due to weaker

security measures c. They have more complex IT systems d. They are required to publicly disclose data

breaches

15. What does the Tinnirello article emphasize as the foundation of strong cybersecurity in CPA firms? a. Purchasing the most advanced technology

products b. Switching to fully paperless operations c. Hiring cyber defense consultants yearly d. Creating a culture of caution supported by

training and awareness

For more information on earning CPE credit for NewsAccount readership, contact Tiffany Carson at tiffany@cocpa.org.

Summer 2025 | www.cocpa.org

MEMBERS- O NLY

Online Discussion Platform Find answers, ask questions, share knowledge, and connect with the entire COCPA community. COCPA Connect, our most valued member benefit, offers immediate topicspecific answers directly from your peers, so you can spend more time helping your clients and less time searching for information.

“Through CONNECT, I’ve been able to get in touch with local colleagues who have helped me answer some of the challenging accounting questions encountered while serving my clients.” Joel Cowden, CPA, Owner of Fianza, LLC

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