Silicon Valley CPA has Significant Impact On California Accounting Legislation.

Business Editors

REDWOOD CITY, Calif.--(BUSINESS WIRE)--April 4, 2000

Robert Petersen Earns CalCPA's Distinguished Service Award Based

on Long Career of Government, Community Activism

Sand Hill Road may be best known as ground zero for venture capitalists who fuel the digital revolution, but it's also home to some world class professional services providers -- people like Certified Public Accountant Robert "Bob" Petersen.

Along with the lawyers, consultants and others who make up the professional services community in Silicon Valley, Petersen is at the razor's edge of his profession. But beyond the thriving accounting and consulting practice he operates on Sand Hill Road, Petersen is a figure that looms large in California accounting circles.

In particular, his burning passion for the legislative process has generated an impressive record of results in furthering the cause of the accounting profession in California.

That's one of the reasons why the California Society of Certified Public Accountants (CalCPA) (www.calcpa.org), named Petersen, 61, winner of the organization's highest professional honor, the Distinguished Service Award, for 2000.

The Distinguished Service Award is granted annually by CalCPA to a member on the basis of long and distinguished service or for some singular act resulting in extraordinary contributions to the profession, to CalCPA and/or the community. The award is intended to inspire other members to similar achievements and to increase public awareness of the profession's vital contributions to society.

"Very few members of our profession have been so passionately committed to contributing time, skill and leadership to further the cause of CPAs, and, by inference, that of California taxpayers and small businesses," says Thomas Iino, CPA and chairman of CalCPA's Distinguished Service Award selection Committee.

"His contributions to CalCPA at all levels -- chapter, state and in continuing education -- have been almost unmatched and his leadership in government relations is without equal."

Petersen, who was CalCPA president during 1986-87, was the founding chairman of the organization's State Government Relations Committee, a group that over the years has grown and wielded increasing influence in Sacramento.

Among the projects that Petersen's leadership produced were CalCPA's efforts to work with the legislature and state agencies to improve conformance of California and federal tax rules and regulations and to simplify the filing process for individuals and businesses, an ongoing project that is somewhat counterintuitive according to Petersen.

"The general perception is that CPAs benefit from a complex tax code and thus like to work to keep it complicated, but that's not true. Overall, we're in favor of rational simplification, for the benefit of taxpayers," Petersen says. To this day, CalCPA continues to work for state/federal tax conformity and simplification.

Bruce Allen, director of Government Relations for CalCPA, says Petersen has been "a tremendous asset to CalCPA and his colleagues.

"He works tirelessly on many key projects that lead to benefits for California taxpayers, businesses and CPAs," says Allen.

More recently, Petersen served as treasurer for California Representative Tom Campbell's successful campaign and is working with the congressman to introduce new tort reform legislation.

In 1997 he also served on a task force of the Council of Foundations that conducted a study into how charitable organizations would be affected if the nation switched to a flat-tax or sales tax system.

Expert in California Tax

An expert in California taxation, Petersen is author of the Research Institute of America's "California Tax Handbook," and is a frequent instructor for the California CPA Education Foundation.

He was president of the CPA Education Foundation in 1984, and is the only CalCPA member to win both the Distinguished Service Award and the Meritorious Service Award from the CPA Education Foundation, that organization's highest honor.

Petersen cut his professional teeth as an accountant with the international accounting firm of Price Waterhouse. He worked for Price Waterhouse for nearly two decades, rising to senior partner.

Later, he established his firm, Petersen Associates in Menlo Park, a practice that concentrates on the complex accounting and personal financial needs of people who live and work in Silicon Valley.

Community Activism

Through his firm, and as an individual, he also contributes greatly to the community. He currently serves as a director of the Sierra Health Foundation, a nonprofit organization with more than $180 million in funding for health care programs and research in Northern California.

He is also president and a trustee of the Global Health Foundation; chair of the Research Institute of America National Subscribers Advisory Board; and an executive committee member of the Lincoln Club of Northern California.

In 1988, Petersen and his wife Carol co-founded the Saratoga Education Foundation, a nonprofit organization that provides supplementary funding for public elementary and high schools in the city of Saratoga.

"We're very proud to honor Bob as our Distinguished Service Award Winner," says CalCPA President Paul Kuperstein. "His example of leadership and the results he produces on behalf of the accounting profession and the citizens of California is worthy of this honor and more."

Petersen will receive his award at CalCPA's Annual Meeting in San Diego this summer.

The California Society of Certified Public Accountants (www.calcpa.org) is one of the nation's largest accounting organizations and the largest CPA association in California. Its 30,000 members serve in public practice, private industry, education and government.