Deja new: Foard takes helm as MACPA chair

With Tom Foard at the helm, the MACPA’s 2007-08 Board gives fresh perspective to familiar issues

2007-08 MACPA Chair Tom Foard

Leadership and change management go hand in hand. The best leaders, though, are equally adept at “same” management.

Times have changed, but the issues that have impacted the profession recently have not. With that in mind, Tom Foard’s philosophy as chair of the MACPA’s 2007-08 Board of Directors is clear.

“My goals and priorities for the coming year will, in many ways, be a continuation of the MACPA’s general strategic direction, with only minor adjustments anticipated on an as-needed basis,” said Foard, executive vice president and CFO of Towson-based Publishers Circulation Fulfillment. “As Carter Heim, the MACPA’s chair from 1999 to 2000, once described to me, taking over the chair of the MACPA is much like taking the helm of a ship — just changing captains and maintaining the course, navigating the seas and making adjustments for changing conditions as necessary.”

That doesn’t mean he won’t be busy. Though the 2007-08 agenda is packed with many of the issues from years past, important work remains. Foard, who was installed a chair during the MACPA's 2007 Annual Meeting on June 18, recently spoke with the Statement about his plans for the coming year, his inspirations as a CPA volunteer and his passion for the profession.

You come from an industry / corporate finance background. How will that background enhance your tenure as MACPA chair?

Foard: As a member from the business and industry segment of our membership, I believe I bring a broad business perspective to our leadership that will enable me to see the challenges facing our profession through a wide lens. At the same time, I recognize that it is my role to be engaged and understand the issues on behalf of the entire profession, whether the issues pertain to those who are sole practitioners or in small accounting firms, those in the larger or “Big 4” firms, members in government and not-for-profit entities, as well as members in business and industry.

What are your goals / priorities for the coming fiscal year?

Foard: As mentioned above, my goals and priorities for the coming year will in many ways be a continuation of the MACPA’s general strategic direction, with only minor adjustments anticipated on as needed basis. ... That said, the goals for the coming year include:

growing the pipeline of Maryland CPAs,
protecting the profession’s interests through legislative advocacy and influence,
enhancing our professional responsibility, and
focusing on the emerging issues in the business and industry segment.

What challenges and opportunities exist for Maryland CPAs in these areas?

Foard: The entire profession is faced with a shortage of CPAs, and Maryland is certainly no exception; thus the need to grow the pipeline of CPAs. Our Accounting Education and Career Reform Task Force has worked extremely hard over the past year to develop recommendations to increase the level of interest in accounting education and ultimately becoming a CPA with a career in the accounting profession.

We have also recognized that tools and connectivity are extremely important to the new generation of the workforce, and the MACPA has been very progressive in enhancing its Web site, along with participating in the virtual world of Second Life and establishing new methods of communicating with members through Web. 2.0 channels like blogs and podcasts.

The first session of Maryland’s General Assembly under the state’s new leadership provided a strong reminder of our role as advocates for the profession, as proposals for taxes on professional services and comparative fault (versus contributory negligence) were raised. While we were successful in our efforts to thwart these bills, the second session of the General Assembly is expected to be even more exciting!

We have a professional responsibility to promote financial literacy, as many Americans continue to spend more than they earn, finding themselves in a swirling maelstrom of rising debt. The national “Feed the Pig” campaign is a very visible example of our profession’s response to this situation. Here in Maryland, our association has provided the Maryland National Guard members the financial advice they need to better manage their unique circumstances.

Mobility, or a lack thereof, continues to be a major concern for practicing CPAs needing to accomplish work across state borders. In essence, we need a “driver’s license” to be able to practice in other states in a very flexible manner, while recognizing and respecting the laws and regulations of the state in which a CPA performs services.

In the business and industry segment, a more reasoned approach to Sarbanes-Oxley regulation and enhancing professional ethics continue to be focus areas. Options backdating scandals and excessive executive pay have recently been front-page news, very visibly reminding us that we still have work to do in cleaning up corporate America. XBRL, enhanced business reporting models, GAAP principles-based accounting (versus rules-based), international accounting convergence, and private company financial reporting all represent areas of opportunity for us to influence the profession as it continues to move forward.

The MACPA has adopted the theme “Connect, Protect, Achieve,” which I think is exemplified by these priorities and focus areas.

Why did you choose to become involved as an MACPA volunteer?

Foard: Interest in volunteering for the MACPA grew from my desire to give back to the profession, coupled with a genuine interest to positively influence the profession to become even better. My involvement began with participation on the Accounting Reform Task Force in 2002, and then re-energized the Business and Industry Committee, which I have chaired over the last several years.

What has been the rewarding part of your CPA volunteerism?

Foard: For whatever I feel that I have given, I have certainly received much more in return. The level of talented and gifted people I have had the opportunity to collaborate with and learn from has been truly rewarding!

My passion for the profession also goes into the classroom setting, as I enjoy my role as an instructor and discussion leader for several courses offered by the AICPA and through the MACPA’s Business Learning Institute. I see myself as life-long learner who has not worked a day at the office, because what I do at work is really my hobby! When I “retire,” I expect to find myself enjoying a role in a college or university setting as an adjunct professor, and / or continuing to serve as a discussion leader for AICPA and BLI courses. Nothing is more gratifying than seeing others professionally develop and feel like I was a part of their success!

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Awards, honors for MACPA volunteers

Foard was inducted during an Annual Meeting ceremony that included the presentation of the MACPA's 2007 volunteer awards. The winners included:

Martin P. Brunk, CPA, partner and co-leader of assurance services at RSM McGladrey / McGladrey & Pullen, LLP, who was given the MACPA's 2007 Public Service Award. Brunk was recognized for his work with the Maryland Food Bank. See related article here.
Harvey I. Milhiser, CPA, chair of the MACPA's Peer Review Committee, who was given the MACPA's 2007 Max Teichmann Outstanding Committee Chair Award. "Harvey is a dedicated volunteer who is highly regarded by both his fellow committee members and by members with whom he interacts with as a peer reviewer," said outgoing MACPA Chair Tami Bensky. "He is an ardent supporter of the peer review program and has been instrumental in promoting the benefits of peer review to MACPA members. Last year, Harvey volunteered to lead several town hall meetings, even though his own work schedule at Gorfine Schiller & Gardyn, PA, and as a peer reviewer performing over 40 reviews, kept him extremely busy. He is always willing to volunteer his time for committee-related efforts, and when given the opportunity, Harvey never fails to mention how much he loves his profession."
The MACPA's Accounting Education and Career Task Force, which was presented with the 2007 MACPA Special Chairman's Award. The committee is exploring ways educators and employers can work together to address the challenges Maryland's academic community, profession and students face. It is a cross-functional group of CPAs in education, practice, industry and government; also participating students and representatives of the MACPA's New / Young Professionals Network. "A complete report is due out in the fall, but I wanted to recognize the committee's exemplary efforts, the understanding they have gained from one another, and the change they have already been able to affect," said Bensky.

Committee members include Barbara Stewart of Towson University; Lisa Cines of Aronson & Company; Allen DeLeon of DeLeon & Stang; Gerry Lindner of Ernst & Young; Jeff Lawson of Stoy, Malone & Company; Chris Wehner of Stegman & Company; Tom Foard of Publishers Circulation Fulfillment; Cindie Rosenzweig of Northrup Grumman; Gary Spivey of the Office of Legislative Audits; Lamont Steedle of Towson University; Bruce Lubich of the University of Maryland University College; Gary Bulmash of the University of Maryland College Park; Dr. Sharon Finney of Morgan State University; Kathy Wessman of Montgomery College; Phil Korb of the University of Baltimore; Barbara Vlaisavljevic of Villa Julie College; Brian Lazarus of Baltimore City Communtiy College; Chris Downey of FTI Consulting; and Richard Rabicoff of the MACPA.
Towson University accounting student Danielle Swenson, recipient of the inaugural MACPA Chairman's Scholarship.

The Annual Meeting was sponsored by Provident Bank, Clifton Gunderson, Richard J. Princinsky & Associates, AON Insurance Services / PLI, The Provenza Group, the University of Baltimore's Merrick School of Business and SmartCEO magazine.