July 14, 2022
ETHICAL BEHAVIOR ... PERSONALLY AND IN BUSINESS ... MATTERS!

By Tom Sponsel, CPA/ABV, CFF
Partner

As a proud CPA for over 45 years, I was embarrassed to read recently that Ernst & Young, one of the top four accounting firms in the country, has been intentionally enabling its employees to cheat on ethics exams for years. They were required to pass these exams to acquire or maintain professional licenses, thus losing all credibility by cutting corners. It is like an oxymoron — cheating on an ETHICS exam? Ethical behavior should be a "non-negotiable" in your enterprise — it IS that simple.

The Indiana Professional Licensing Agency also requires a similar ethics exams and continuing professional education (CPE) in ethics every three years — the required CPE cycle in Indiana. At Sponsel CPA Group, we take ethical behavior very seriously and ingrain it in our regular operating procedures. Any business that's not run ethically is hardly a valid business, and it will not achieve its desired level of success in the long run. Business isn't just about making a buck any way you can. It's about building relationships, loyalty and trust. If you lose those critical elements, you'll soon have nothing left — professionally or personally.
RETIREMENT: IS IT AN AGE, A DATE OR A NUMBER?

By Leslie Munas
Manager, Tax Services 

When it comes to retirement, too many executives and business owners make the mistake of thinking it will suddenly arrive when they hit the magical "65" or become eligible for Social Security benefits. But it's not something that just happens when you reach a certain age or save enough money in your bank account. You won't find a retirement plan neatly laid out in the latest issue of AARP The Magazine waiting in your mailbox.

You have to be very intentional in your planning for retirement, and you should start five to 10 years before you plan to clean out your office and say goodbye to the daily grind.

ASSEMBLE A GREAT DIVERSIFIED TEAM

By Lisa Purichia
Partner, Director of Accounting Services & Retirement Plan Services

Now that we're more than halfway through the year, now is a good time to think about your team members and determine how you can strengthen your team. You want to attract talent that is Humble, Hungry and Smart, as noted in author Pat Lencioni's book, The Ideal Team Player. You need diversity of thought to discover your blind spots. It is also okay if team members are better than the "boss" in certain talents and skills.

Maybe you need to build upon your existing staff. Look for complementary people who bring diversity in all its forms, whether it's gender, ethnicity, economic backgrounds, talents and skills, etc. Diversity brings different perspectives on how to approach challenges to provide solutions and reach certain goals.
EMPLOYEE SPOTLIGHT: KAREN PARSON

Karen Parson joined the Sponsel CPA Group family about four years ago.

Equipped with several years of experience in the accounting industry, she provides support to the Audit & Assurance Services team, serving as an Administrative Assistant to Tom Sponsel, Jason Thompson and Eric Woodruff.