AICPA Survey Reveals Companies Are Underprepared for Enterprise Risk

For more than 20 years, former flight instructor Roger Stadtmueller has been the managing partner at Stadtmueller & Associates, PS, an accounting firm in Spokane, Washington. An active member of his professional community, Roger Stadtmueller belongs to several organizations, including the American Institute of CPAs (AICPA), the largest member association for accounting professionals in the world. 

The AICPA recently released a report on corporate risks and risk management efforts. Conducted with the help of North Carolina State University, the report is titled “The State of Risk Oversight: An Overview of Enterprise Risk Management Practices.” The report surveyed more than 400 senior executives and chief financial officers. 

According to the report, nearly 70 percent of respondents noted that the risks they see are growing in number and complexity. Yet less than 50 percent of the organizations surveyed have increased their risk management efforts. 

Further, only 25 percent of respondents felt that risk management initiatives had been effectively integrated into companies’ strategic plans. Based on these results, the AICPA concludes that there is a disconnect between company risk and risk management efforts. 

While most companies have conventional risk management initiatives in place, these plans often focus on sales risks rather than enterprise risks. As a result, many companies are underprepared to handle financial risks.

Financial Satisfaction Down Only Slightly in 2016

Since 1997, Roger Stadtmueller has led the Spokane-based CPA firm Stadtmueller & Associates, P.S., as its managing partner. Additionally, Roger Stadtmueller maintains membership with the American Institute of CPAs (AICPA).

According to a recent survey of financial satisfaction conducted by AICPA, Americans saw a minor decline in their financial happiness during the last three months of 2016. Rising inflation levels were mostly attributed to the decrease in satisfaction, though those worries were somewhat countered by cautious optimism about the trajectory of the nation’s economy in 2017.

Market experts share the opinion that the prospect of lower taxes and fewer regulations were responsible for a surge in financial satisfaction at the end of 2016. By year’s end, the market saw a boost with increase share prices and higher trading volumes. During the fourth quarter, the financial sector posted the most gains, with industrials and materials not far behind. 

To learn more about the financial satisfaction survey, visit www.aicpa.org/PFSi.

Study Says Divorcees near Retirement Age Aren't Prepared

For nearly two decades, Roger Stadtmueller has served as the managing partner with Stadtmueller & Associates, a CPA firm located in Spokane, Washington. In conjunction with his day-to-day accounting practice, Roger Stadtmueller is a longtime member of the American Institute of CPAs (AICPA).

According a recent survey conducted by AICPA, 75.6 percent of people who are divorced and old enough to retire are not adequately educated about their personal financial lives. Over the last 27 years, the divorce rate among retirees has increased twofold, which makes the importance of understanding how divorce impacts their financial situation paramount.

The survey also shows that women tend to have better financial habits post-divorce than men. With nearly twice as many women as men finding employment after a divorce, women also are nearly 2.5 times more likely to bolster their retirement savings than men.

AICPA Personal Financial Planning Executive Committee member Tracy Stewart says couples tend not to think about what would happen to their finances in the event of a divorce. Because dividing assets can be a complex venture, it’s important that individuals, especially those nearing retirement age, take these issues into account.

The Development of Golf's Bunkers

Roger Stadtmueller has 25 years of experience as a chartered professional accountant, including 20 years as the managing partner of his own firm. When he's not preparing complex corporate and individual tax returns, Roger Stadtmueller enjoys golfing. 

When a golf shot goes wide of the fairway, depending on the hole and course, there's a chance the ball could end up in the bunker, which is essentially a sand pit. Bunkers often increase the difficulty of a particular hole and act as a penalty for wayward shots. A player who hits a ball into the bunker isn't penalized in the form of strokes, but getting out of the sand can be enough of a challenge that he or she is likely to gain an extra stroke. Course architects today design holes with hazards such as small ponds and other water hazards, as well as sand traps. 

There's no definitive answer as to why sand became a part of the game, but at the earliest stages of the game's development in Scotland, sand would blow across the links, forming pits. Another popular theory is that prior to the creation of courses, the links land was often a refuge for sheep seeking escape from cold Scottish breezes and those sheep would carve out pits. When the land was used for golf, it either took too much time or work for the grass to grow back. Sand was the easy solution.

Gonzaga University Heads Driverless Car Student Research

 


Certified public accountant Roger Stadtmueller has over two decades of experience in the field with Stadtmueller & Associates, P.S. A donor to many charitable organizations, Roger Stadtmueller supports educational institutions such as Gonzaga University.

Students at Gonzaga University recently contributed to the future of automotive technology through a study focusing on improved safety and effectiveness for driverless vehicles. The recipient of federal grants, a dozen engineering students have begun evaluating methods for providing real-time communication between vehicles. The research is being conducted under the leadership of Rhonda Young, who came to the school from the University of Wyoming and now serves Gonzaga's School of Engineering and Applied Science as associate professor of civil engineering.

The project at Gonzaga will consist of three stages, with the last stage involving putting the engineering students' research into practice. Expected benefits of their work include improvements ranging from decreasing traffic congestion to more efficient route planning.

2016 Red Bull Air Race at Las Vegas Motor Speedway

Having worked as a CPA for various firms, Roger Stadtmueller acts as a managing partner for Stadtmueller & Associates, P.S., where he oversees the auditing and manages employees. When he is not busy with work, Roger Stadtmueller is involved with the Aircraft Owners and Pilots Association.

The Aircraft Owners and Pilots Association was founded in 1939. The organization focuses on keeping the sport of aviation safe and affordable for all, and claims over 400,000 members. 

In October of 2016, the Aircraft Owners and Pilots Association announced the Red Bull Air Race that occurred at the Las Vegas Motor Speedway for its third year. During the race, pilot Peter Podlunsek was able to fly warbird planes typically used in heavy combat while at war. During the various events he has participated in for over 20 years, he has put in over 1,800 hours in flight, with 1,000 of those hours spent on performing acrobatic tricks. October’s race was no different, with Podlunsek flying in unusual formations with his team. Air Force helicopters were also part of the show’s dynamics.