MNCPA PERSPECTIVES

About the Author

Faye Hayhurst, CPA

Faye Hayhurst is the MNCPA director of finance and administration. She is committed to using numbers to tell relevant stories, although she also employs words, charts and occasionally clothing to communicate a message. While some have questioned her about the pressures of being the CPA for the MNCPA, Faye considers presenting financial information to fellow CPAs a dream job. Outside of storytelling with numbers, Faye enjoys directing her church's handbell choir, visiting national parks and other scenic places, and checking out the chocolate products at Trader Joe's. Faye can be reached at 952-885-5540 or fhayhurst@mncpa.org.


Audit risk assessment continues to be misunderstood for several firms
April 2, 2019  |  By Faye Hayhurst, CPA
Effective Oct. 1, 2018, peer reviewers began applying new guidance approved in August by the AICPA Peer Review Board. This new guidance took aim at an area that has been misunderstood... Read more
Better late than never, part 2: There's help!
November 29, 2018  |  By Faye Hayhurst, CPA
My Sept. 4 blog, "Better (12 years) late than never," discussed the new way peer reviewers are evaluating a firm's compliance with audit risk... Read more
Systemic controls or systemic cause?
November 20, 2018  |  By Faye Hayhurst, CPA
We use buzzwords as a shortcut to refer to broad concepts in business. Buzzwords can be relatively straightforward and well-accepted (“return on... Read more
Sharpening the blade
October 18, 2018  |  By Faye Hayhurst, CPA
If you’ve ever had to cut up various ingredients to prepare a meal, or perhaps had to gut and clean a just-caught fish, you know the importance of... Read more
Better (12 years) late than never
September 4, 2018  |  By Faye Hayhurst, CPA
This just in: Effective Oct. 1, 2018, peer reviewers will be applying new guidance approved by the AICPA Peer Review Board in August. The new guidance affects how peer reviewers will look at a firm’s compliance with audit risk assessment standards in AU-C 315 and 330. Read more
Revenue recognition and leases: Angles you might have missed
August 1, 2018  |  By Faye Hayhurst, CPA
After years of articles, news releases, CPE classes, and yes, posts by innumerable bloggers, I’d venture to say that it’s a rare CPA who hasn’t... Read more
Communication that builds a team
June 26, 2018  |  By Faye Hayhurst, CPA
Imagine a small CPA firm with one partner and six staff. The partner hosts a weekend Christmas party at his large new house. Staff and their... Read more
PRIMA year 2: Getting better
May 15, 2018  |  By Faye Hayhurst, CPA
It was August 2017 at the annual AICPA Peer Review Conference, and there seemed to be a word on everyone’s lips. It was muttered usually in... Read more
Familiarity: Threat or benefit?
April 19, 2018  |  By Faye Hayhurst, CPA
Is familiarity a good thing or a bad thing? The correct answer is both “yes” and “no.” As with so many things, it all depends on the situation.... Read more
Wrestling with college funding
March 13, 2018  |  By Faye Hayhurst, CPA
Doing what’s best for our children -- can we all agree this is a high priority for most parents? Of course, “what’s best” is up for debate, and... Read more
BOA rule change affects peer review for new firms
February 2, 2018  |  By Faye Hayhurst, CPA
Revised administrative rules were published by the Minnesota Board of Accountancy (BOA) on January 10, 2018. The most significant changes have to do... Read more
Reflecting on an icon
December 18, 2017  |  By Faye Hayhurst, CPA
On Dec. 6, the CPA profession lost an icon -- Howard Guthmann, formerly of the Wilkerson Guthmann CPA firm in Arden Hills. Howard was 95, and had... Read more