KyCPA member spotlight
2024-2025 KyCPA Board Chair, Olivia Davis
Issue 3
August 28, 2024
Olivia Davis, CPA
Senior Lecturer, University of Kentucky Gatton College of Business and Economics
Associate Director, Von Allmen School of Accountancy
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Before becoming a senior lecturer at the University of Kentucky Gatton College of Business and Economics in Lexington, Davis worked in public practice at PricewaterhouseCoopers.
Davis has been a KyCPA member for more than 17 years. In addition to her service on the KyCPA Board of Directors, Davis serves on the Nominations and Awards Committee, Finance Committee, and Diversity and Inclusion Committee.
She also spends her time promoting the CPA profession and supporting her students even after they graduate.
Message from Olivia Davis
I am looking forward to an exciting year as Board Chair. The focus this year is growing the CPA pipeline. This includes advocating for the passage of the STEM Accounting Pursuit Act and the STEM Education in Accounting Act.
Within the past year, the Society, in partnership with the Kentucky State Board of Accountancy, has accomplished several initiatives to lessen barriers for students pursuing the CPA profession:
- The extension of the CPA examination timeline from 18 to 30 months provides candidates with more flexibility and reduces the pressure to complete all sections of the exam in a shorter timeframe.
- The elimination of the cap on internship hours that can satisfy the 150-credit hour requirement offers more opportunities for practical work experience.
- The establishment of the Kentucky State Board of Accountancy’s scholarship fund regulatory framework provides financial assistance to aspiring CPAs, making the profession more accessible.
With these accomplishments, KyCPA’s Educational Foundation will receive additional financial support to help build the CPA pipeline in Kentucky. We will work with the Kentucky State Board of Accountancy in the upcoming fiscal year to invest additional funds into students seeking the accounting profession.
Each of the regulatory amendments adopted by the Kentucky State Board of Accountancy and approved by the Kentucky General Assembly will provide students with more flexibility when preparing for the CPA exam and completing their 150-credit hour requirement.
Looking ahead to fiscal year 2025, KyCPA will collaborate with the American Institute of CPAs to advocate for the passage of the STEM Accounting Pursuit Act, and the STEM Education in Accounting Act. These bills would allow accounting programs access to existing STEM K-12 grant funding for accounting awareness and education, helping to strengthen the accounting pipeline. Last spring, KyCPA joined CPA societies and the AICPA on Capitol Hill to discuss this legislation with members of Congress.
As we prepare for the next Kentucky Legislative Session beginning in January 2025, KyCPA will continue to coordinate with the Kentucky State Board of Accountancy, AICPA and other state societies to address the declining number of CPA candidates and the growing retirements in the profession. We will assess variables correlating with the pipeline shortage and outline possible solutions via the Educational Foundation, advocacy and policy changes. To best outline this strategy, KyCPA established a CPA Pipeline Task Force to research this matter in greater detail in Kentucky. The task force is comprised of CPAs from various parts of the profession, including education, accounting firms, and business and industry.
I invite you to contribute to and support Society efforts to help grow our profession. Here are a few ways to do this:
- Continue your KyCPA membership and refer others to join (Click here to learn more about the Member Referral Program.).
- Ensure your employer is a 100% Champion!
- Support advocacy efforts by talking to your representatives, attending CPA Day at the Capitol, reading KyCPA Legislative Updates and contributing to the KyCPA-PAC.
- Volunteer your time and/or sponsor KyCPA student programs and events.
- Speak at a local high school or university. (Contact Zoe Sapin for resources.)
- Stay up to date with Society offerings and needs by reading your monthly e-newsletter and The Kentucky CPA Journal. Attend one of the Professional Issues Updates, available virtually and in several locations throughout the state.
- Donate to the KyCPA Educational Foundation at kycpa.org/100.
- Share positive accomplishments via social media and tag KyCPA. We are proud of our members and want to congratulate you. We also want potential future CPAs to see the great possibilities that come with the CPA designation. (Link up with us on LinkedIn, follow us on Facebook and X, Like us on Instagram and subscribe to our YouTube channel.)
- Attend a Chat with the Chair. This is a virtual event to share your ideas about the pipeline and hear from others. There are a few opportunities to attend: September 12, December 5, 2024 and March 13, 2025.
I am honored to serve as your Board Chair and take this as a great opportunity to help further empower all of us to continue strengthening our profession. We have come far in the last 100 years, and I am excited about the future of our Society and profession. Together, we will make a significant impact!