Lee Ann Watters, CPA, is a Director in the Assurance Services practice at Cherry Bekaert LLP, based in the firm's Lexington office. She specializes in serving government and not-for-profit entities, bringing extensive expertise and a deep commitment to public sector financial excellence. A dedicated KyCPA member for more than 27 years, Watters has contributed significantly to the Society’s mission through various leadership roles. In addition to her service on the KyCPA Board of Directors, she is an active member of the Nominations and Awards Committee, Finance Committee, and the Accounting and Auditing Committee.
Throughout the 2024–2025 fiscal year, the Kentucky Society of CPAs (KyCPA) made it a top priority to connect with members, students, educators, firms, and businesses across the Commonwealth. With more than 440 touchpoints across more than 50 cities, KyCPA’s presence was felt in communities large and small. These visits served many purposes—from advancing the CPA pipeline to strengthening relationships with current and future members.
On June 13, the KyCPA Leadership Luncheon and Annual Members meeting took place at the Olmsted in Louisville. The luncheon included keynote speaker Todd Sloves, the AICPA Director of Congressional and Political Affairs. Olivia Davis recognized the recipients of the 2024-2025 Outstanding Committee Chair Award.
Simple commitment. BIG IMPACT. We need your help to get access to the high schools you hold near and dear to your heart. The Kentucky Society of CPAs (KyCPA) is launching our initiative “Accounting for the Future” to align with the AICPA’s November 2025 Accounting Opportunities Experience, requesting that our total membership commit to involvement.
The Kentucky Society of CPAs (KyCPA) recently welcomed new members to its board of directors. The incoming board members, along with new members of the executive committee and additional members of the 2025-2026 board of directors, were recognized at KyCPA's Annual Members Meeting at The Olmsted in Louisville on June 13. They officially began their duties July 1.
By Mark A. Loyd, JD, CPA Equal protection in real property tax matters – a lot to all Kentucky taxpayers. Imagine that property you lease and on which you are required to pay the property taxes is assessed at double or triple the assessment value of nearby similar properties. Imagine that in assessing the value of your property, the Property Valuation Administrator used an assessment methodology that is different from the methodology used to assess other properties in the county. What if the PVA purposefully singled you out for increased assessments? What if the PVA identified no rational basis for computing your assessment value differently from other real property taxpayers? Should that violate equal protection? Is this issue of statewide importance?
By Greta Gudmundsson, CPA On July 3, Congress passed the “One Big Beautiful Bill Act” (OBBBA), marking a significant overhaul to federal tax policy and the President signed it into law on July 4.
By Collin Temple, CPA, CCIFP In the world of construction accounting, the allocation of indirect costs, or overhead, continues to be one of the most consequential and misunderstood areas in both financial reporting and job costing. For CPAs working with contractors, a clear grasp of indirect cost allocation is not just a technical exercise but a strategic opportunity to enhance financial accuracy, improve competitiveness, and support better business decisions.
On Friday, March 28, the Kentucky General Assembly adjourned sine die from the 2025 legislative session. With the final stroke of the gavel, we marked not only the end of the legislative session, but also the last time the Kentucky General Assembly will meet in those chambers, at least for the next few years. While the massive marble and granite structure has dominated the landscape of Frankfort for more than a century, the Capitol closed this summer for extensive renovations, with lawmakers meeting in a temporary structure next door until the work is completed.
