J A N U A R Y / F E B R U A R Y 2 0 2 2 4 nebraska cpas 16 12 C O N T E N T S 10 ©2022 Nebraska Society of Certified Public Accountants | The newsLINK Group, LLC. All rights reserved. The Nebraska CPA is published six times each year by The newsLINK Group, LLC for the Nebraska Society of Certified Public Accountants and is the official publication for this society. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the Nebraska Society of Certified Public Accountants, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. Nebraska CPA is a collective work and as such some articles are submitted by authors who are independent of the Nebraska Society of Certified Public Accountants. While the Nebraska CPA encourages a first-print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at: 855.747.4003. JANUARY/FEBRUARY 2022 EDITORIAL: The Nebraska Society of CPAs seeks to reflect news and relevant information to Nebraska and other news and information of direct interest to members of the Nebraska Society of CPAs. Statement of fact and opinion are made on the responsibility of the authors alone and do not represent the opinion or endorsement of the Nebraska Society of CPAs. Articles may be reproduced with written permission only. ADVERTISEMENTS: The publication of advertisements does not necessarily represent endorsement of those products or services by the Nebraska Society of CPAs. The editor reserves the right to refuse any advertisement. SUBSCRIPTION: Subscription to the magazine, a bi-monthly publication, is included in membership fees to the Nebraska Society of CPAs. 6 PRESIDENT’S MESSAGE: WELCOME TO A NEW YEAR BY JONI SUNDQUIST, NEBRASKA SOCIETY OF CPAS 9 2022 CONFERENCES 10 STATE BOARD REPORT: CPE AUDIT: ARE YOU READY? BY HEATHER MYERS, NEBRASKA BOARD OF PUBLIC ACCOUNTANCY 12 COUNSELOR’S CORNER: NEBRASKA WILL FOLLOW FEDERAL TAX TREATMENT OF LIMITED LIABILITY COMPANIES BY JEFF SCHAFFART, KOLEY JESSEN 14 HOW TO BUILD A CLIENT BASE YOU LOVE BY ART KUESEL, KUESEL CONSULTING 16 STATE TAX BRIEFING: CHANGING BUSINESS MODELS LEADS TO CHANGING TAX RESULTS: ARE YOUR CLIENTS PREPARED? BY NICK NIEMANN AND MATT OTTEMANN, MCGRATH NORTH LAW FIRM 18 AUDITING DISCLOSURES IN GOVERNMENTAL & NOTFOR-PROFIT FINANCIAL STATEMENTS: ARE MATERIAL MISSTATEMENTS HIDING IN PLAIN SIGHT? BY PAUL H. KOEHLER, CPA, GOVERNMENT/NONPROFIT SERVICES SPECIALIST 21 MEMBER SPOTLIGHT: FRED A. LOCKWOOD 23 MEMBERS IN THE NEWS 25 IN MEMORIAM 28 VOLUNTEER TODAY! 30 WELCOME NEW SOCIETY MEMBERS!
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