The Society of Louisiana Certified Public Accountants celebrated its 100th anniversary Friday at a luncheon that paid tribute to a profession that has evolved significantly in recent decades.
The biggest change has been the proliferation of government regulation, said Norman R. Kerth, who was a practicing accountant until his retirement in 1982. Kerth, who at 91 years of age remembers using an adding machine during his years of practice, is one of the Society's oldest living past presidents. He shares that honor with J.M. Fried Jr., also 91.
Fried said Friday that accountants "used to use our own judgement and common sense" when sorting through complicated tax issues. Heightened government regulation has made tax work more complex and has taken away some of the individual judgements accountants used to make, he said.
As a result, "I don't think (accounting) is as much fun," Fried said with a chuckle.
Kerth and Fried were among more than 200 accountants from around Louisiana present at the New Orleans luncheon, which took place as part of the Society's Centennial Annual Convention. More than a dozen past presidents and past executive directors of the group were in attendance.
"For (being) 100 years old, the Society is in great shape," said outgoing president Robert S. Angelico. "Our best is yet to come."
But for all the changes the profession has seen, some things remain the same. Incoming president Thomas A. Cotten, during his acceptance speech, held up his grandfather's accounting ledger from 1920, which inventoried the debits and credits of different customers.
"You think a lot has changed, but it hasn't," Cotten said. "We're still doing debits and credits. What really has changed is the speed at which (information) travels."
Tommie A. Vassel, who was the Society's first black president from 2006 to 2007, said technology has impacted the profession.
"Through technology, we're able to do a lot more a lot faster," said Vassel, who operates Global Profit Strategies, a management consulting firm in New Orleans. "It certainly has made it easier to do the job and we're able to do it more efficiently."
Ralph C. Cox Jr., managing member of Bourgeois Bennett LLC, said the profession has also greatly expanded the services it provides beyond the traditional areas of auditing, accounting and tax.
"CPAs now are doing a lot more," said Cox, who cited business valuation, consulting and investment services as being among the new services accountants are providing. Cox served as president of the Society from 1995 to 1996.
The Society presented awards to five of its members at the luncheon. Debra White Lockwood received the group's Distinguished Public Service Award. David L. Manry of the University of New Orleans received the Lifetime Achievement in Accounting Education. Jim Exnicios received the Society's Special Recognition Award. Bill Potter was awarded the Life Membership Award. And Bob Perez received the Outstanding CPE Discussion Leader Award.
Friday's lunch was held at Arnaud's Restaurant. The Society's convention runs through Sunday and is being held at the Hotel Monteleone.
Kimberly Quillen can be reached at kquillen@timespicayune.com or 504.826.3416.
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