Surrounded by good people, focused on good governance
By Suellen Wilkins, FICPA Editor
On July 1, Stam W. Stathis, CPA, of Tallahassee began his term as 2011-2012 president of the Florida Institute of CPAs. He is the Institute's 84th president since it was established in 1905.
"The FICPA is proud to welcome Stam as our president," said Glenn Thomas, the FICPA's chief operating officer, who is serving as the interim CEO-Executive Director. "His extensive experience and service with the FICPA will allow us to confidently and skillfully address the challenges and future direction of the Institute."
Stathis, a 28-year FICPA member and tireless volunteer, is eager to get started.
"Successfully serving as president of the FICPA takes a person who can lead by example, and who considers the interests of the FICPA and the profession first, last and always," Stathis said. "This is a tremendous honor. We have many challenges ahead of us and I'm ready to carry forward the momentum that President Mike Pender and the 2010-11 Board of Governors created. My father taught me never to quit, and my mother taught me that you move a mountain one shovel full at a time."
Stathis is a graduate of the University of Florida and a member of the AICPA. He earned the designations of Certified Financial Planner (CFP®) from the Colorado College for Financial Planning; Certified Information Technology Professional (CITP) from the AICPA; and Certified Valuation Analyst (CVA) from the National Association of Certified Valuation Analysts. He also is a Personal Financial Planning Specialist (PFS) and is Certified in Financial Forensics (CFF).
"My service as FICPA president is an opportunity to give back to the profession that has allowed me to make a good living," Stathis said. "I believe serving in this position is an honor bestowed on me by my peers, as recognition of the commitment I've made to the FICPA."
Volunteerism is at center of Stathis' career
Stathis has a long history of serving in professional and civic organizations. He is a graduate of Leadership Manatee, a long-standing Rotarian and a past president of the Bradenton Rotary Club. He has received the Rotary's distinguished Paul Harris Award.
Stathis has served in numerous FICPA volunteer positions, including president, secretary and treasurer of the Gulf Coast Chapter.
During the years, the Institute has honored Stathis with several awards, including the Presidential Service Award in recognition of outstanding services as a regional vice president (2000-2001); Executive Committee Award of Excellence in recognition of outstanding performance as chairman of the E-Commerce Section, now known as the Business Technology Section (2001-2002); Presidential Award for outstanding work and extraordinary service as Peer Review Task Force chair (2006-2007); and Presidential Award for dedication, diligence and outstanding service as chair of the Governance Task Force (2007-2008).
"The election to represent Region III as regional vice president from 1999 to 2001 was the most meaningful volunteer position in which I've served," Stathis said. "Being elected by my fellow chapter presidents was a great honor, and serving in that position was the beginning of my journey to becoming president of the FICPA. I am forever grateful to those chapter presidents."
The most difficult thing about serving in an FICPA leadership position is the time commitment, Stathis said. Preparation, travel and meeting time require hundreds of hours each year.
"But through that commitment, I've enjoyed meeting my fellow professionals. Each and every person I've worked with through the FICPA has enriched my life personally and professionally," Stathis said. "Everyone who strives to succeed in their endeavors makes professional and personal sacrifices, and we recognize that they happen. But the sacrifices aren't something I think about."
New president is working hard, but having fun
A Florida-licensed CPA and partner of James F. Thielen, CPA PA (Thielen + Tax and Business Consulting), Stathis has more than 25 years of public accounting experience. He recently moved to Tallahassee from Manatee County, where he served as a director of management and technology consulting service for CPA Associates.
"I'm excited about the opportunity to work in a different type of firm," Stathis said. "I've worked exclusively at large firms during my career, and Jim's firm is very different. The relaxed, casual atmosphere, and the openness among the employees, is refreshing."
Stathis' Tallahassee practice will highlight his unique expertise in consulting and trust accounting.
"The main thing I've learned from being a business owner is that you're only as good as the people with whom you surround yourself," Stathis said. "Having employees who feel they're part of the process, and who take ownership of the firm's work product, is paramount to being successful."
Stathis began his career with a large regional firm that was bought out by Touche Ross in the early 1980s.
"We were a Touche office for three years and I worked between Sarasota and Bradenton," Stathis said. "The two partners who ran the Bradenton office, Don Varnadore and Lanny Tyler, decided to open a practice and I went to work with them. I was made a partner in 1990."
Stathis credits Varnadore and Tyler for having influenced his approach to his work, and to life.
"Among the role models I've had during my career, Don and Lanny had the most influence on me. They shaped me into the professional I am. From Don, I learned that our clients deserve to be provided with quality, timely service. From Lanny, I learned to work hard, but have fun doing it."
"I love the diverse work we do as CPAs and the challenge each of my clients brings. It keeps my life interesting," Stathis said. "If there's one thing I dislike about our profession, it's the way our workload has become so compressed into a few months of the year. The only way to handle it is to go with the flow, and not to sweat the small stuff."
Stathis emphasizes value of PACs
"I believe advocacy is the No. 1 benefit of membership in the FICPA," Stathis said. "Alone, none of us have the political clout to protect our license to practice. But when we band together, our voice is heard in Tallahassee and throughout the country.
To ensure that the accounting profession has a strong presence in Florida's legislative and regulatory activities, FICPA members and others can join the Florida CPA Political Action Committee (Florida CPA/PAC). This entity is completely separate from the FICPA and is supported solely through voluntary contributions.
In 2001, the Florida CPA/PAC was separated into three geographic regions – the North, Central and South regions. Each FICPA chapter is part of one of these regions, and members are assigned to a PAC based on their location.
"A donation from a PAC with more than 18,000 members carries much more weight than an identical donation from an individual," Stathis said. "Contributing to the Florida CPA/PAC is the fastest, simplest, most efficient way to get involved in the political process. And I can't emphasize enough the PACs' track records in choosing winners."
The FICPA Governmental Affairs Team spends an enormous amount of time and energy evaluating candidates running for the Legislative and Executive branches of Florida's government. The Florida CPA PACs are members of the Florida Chamber Political Institute, which is made up of about 65 business groups. During the three months before each primary election, these groups interview and evaluate each candidate running for state office. The FICPA Governmental Affairs team then presents this data to the PAC trustees to determine who, if anyone, FICPA members' PAC dollars will support.
In 2010, there were 406 candidates who qualified to run in both races, and the PACs supported 199 candidates in the primary and general elections.
"The 2010 win percentages directly illustrate the importance – and return on investment – of the PACs," Stathis said (see the Governmental Affairs article on page 22).
"Of the challenges the FICPA currently faces, first and foremost is mandatory peer review. It's the last obstacle to ensuring that Florida CPAs are considered substantially equivalent to CPAs in the rest of the country," Stathis said. "Our leadership is working diligently with our legislative team to ensure that this is passed during the 2012 Legislative Session."
The Florida CPA/PAC frequently leverages its political clout by creating alliances with other organizations. One group to which the PAC belongs is the Coalition to Protect Florida's Economy, which was formed in 2001. The Coalition, a group of more than 20 organizations representing diverse areas of Florida, has defeated three proposed constitutional amendments to create a services tax in Florida. A services tax would affect Florida residents who use any service, including CPA services.
"Helping hold off sales tax on services has been the most rewarding PAC project in which I've been involved," Stathis said, "especially since the main proponent of removing our exemption from sales taxes is a former Florida Senator from Manatee County."
Stathis believes in facilitating governance
Stam Stathis is known for his knowledge about and passion for Robert's Rules of Order, which were developed in 1876 by Henry Martyn Robert, a U.S. Army engineering officer. Robert was asked to preside over a public meeting at a church in his community and realized he didn't know how. He tried, but was supremely embarrassed, and was determined never to attend another meeting until he had learned about parliamentary law.
Robert studied the few books then available on the subject. With the Army he was transferred to various parts of the United States and discovered parliamentary anarchy. Members throughout the country all had different ideas of correct procedure. To bring order out of chaos, he wrote Robert's Rules of Order, which is now in its 10th edition.
"Robert's Rules allow a group to govern with a set of guidelines that facilitate the meeting process," Stathis said. "That is, they allow for an orderly process to conduct the meeting efficiently. If a chair knows Robert's Rules and correctly applies them, the members of the group will feel that a decision was made properly and professionally."
Stathis sees his role in the FICPA governance process as that of a facilitator. His goal, he says, is to ensure that there is good governance among the FICPA Executive Committee and Board of Governors during the coming year.
"To me, good governance is making sure all sides are heard," Stathis said. "A chair's primary duties are to make sure everyone has a chance to respond to the question, and to avoid allowing a few people to dominate the conversation. The chair should keep the group focused on the tasks at hand and maintain proper decorum. I hope, in the coming year, that I'll be able to live up to this standard."
Ms. Wilkins is the editor of Florida CPA Today. She can be reached at (850) 224-2727, Ext. 383, or wilkinss@ficpa.org.
On the personal side
Q. Where are you from originally?
A. I was born in Coral Gables and lived there until I was four. Then I lived in Bradenton until I relocated to Tallahassee this June.
Q. Where did you earn your accounting degree, and why did you decide to pursue accounting as a career?
A. I earned my accounting degree at the University of Florida. My dad actually told me to be an accountant, as I would never want for a job.
Q. How do you like to spend your free time?
A. Working out, playing golf and reading.
Q. We hear you're a car enthusiast. How did that interest begin?
A. I became enamored with cars when I was about eight. I had posters of cars in my room and I'd buy model kits. I was terrible at it and could never make them look as good as the ones on the box covers.
Q. What kind of car do you drive now?
A. Currently I drive a Mercedes E550. It's easier on these old bones.
Q. Of the cars you've owned, which has been your favorite?
A. I'd have to say the Mercedes SLK350 was the most fun. It was just a pleasure to drive and being a hardtop convertible was special.
Q. Do you have any pets?
A. I have a cat named Marshmellow, who's five. He originally belonged to my daughter.
Q. Do you prefer to eat out or at home? What kind of food do you like?
A. I really don't have a preference to eat out or in. I can cook, but I'm terrible at menu development. I'd say French food is my favorite. Euphemia Haye on Long Boat Key is my favorite restaurant.
Q. How do you juggle the responsibilities of a career and FICPA leadership?
A. You work real long hours to keep up.
