Kirk Tibbetts not only has dedicated his career to accounting and financial reporting – first at KPMG LLP, now as financial controller at Principal Financial Group Inc. – but he also has shared his talents with the community. His involvement in organizations including Variety – The Children’s Charity of Iowa, the Easter Seals Society of Iowa and the Mid-Iowa Council of Boy Scouts of America led the Iowa Society of Certified Public Accountants to give him this year’s public service award. The award also recognizes his role in the organization, where he served as president in 2000 and now as chairman of its insurance industry committee.

How did you get into accounting?

I started taking some basic accounting classes my first year [at the University of Northern Iowa] and found that I really enjoyed the financial aspect of how businesses run. I think when you get into accounting and financial reporting, not only do you need to understand how historical transactions are recorded but also what impact decisions have on the financials and the future strategy of the company. It’s really a way to get to know a lot of aspects of a company’s business. Accounting is just something that interested me, so I did what a lot of college graduates do, get into public accounting first, which allows you to see a lot of different companies. I did that at KPMG LLP for 221?2 years. The last 10 years I was an audit partner for them, specializing primarily in insurance companies and other financial institutions. After doing that, I was ready for a change. I found a great opportunity within the Principal mutual funds group; I was CFO of [the division] for two and a half years and then they asked me to head up the company’s efforts to comply with certain portions of the the Sarbanes-Oxley Act of 2002. I’ve been doing that ever since even though my role has expanded. We’re now getting into financial auditing of all the various business units throughout the company, which has given me the opportunity to do some international travel.

How has Principal changed since you joined the company?

My perception was it was a big, slow-moving company that did things well, but maybe wasn’t really creative or aggressive. But just the opposite is true. It’s pretty nimble and has excellent people, aggressive people, who are able to move quickly, are creative and really want to do what they can to do the best not only for the company but also for the customer.

What do you hope to accomplish as chairman of the insurance industry committee?

The main thing we do with that group is focus on educational opportunities for accountants, primarily those working for insurance companies. We sponsor a one-day conference each year, which is coming up June 25. I’m in charge of a panel on board governance, which is a big topic nowadays. The other thing we’ve been talking about doing is having some supplemental training sessions.

What do you enjoy doing in your free time?

I enjoy running. I like to golf whenever I can. I’ve been very involved in Scouting with my son, and other family activities.

Has volunteering always been a big part of your life?

When I got this award, I made a short acceptance speech to the group of CPAs at the annual meeting and I indicated to them that I felt it was important for them that they do participate in the community. CPAs are extremely well positioned to do that in a number of ways. The easy one is [to be] the treasurer of the organization, but there’s also the finance committee. A lot of nonprofits have put in place audit committees. So they’re in a great position to provide their perspective and resources. I found myself getting in those areas. With Variety, I was on the finance committee through the years, not only raising money but also helping with the telethon. With Boy Scouts, I’ve been the treasurer not only of the local troop that my boy’s in but also treasurer of the Mid-Iowa Council.

How do you fit it all in?

When you enjoy the people and what you’re trying to accomplish, it’s not too tough to fit it in. I couldn’t do it without the support of my employers, but especially the support of my family and my wife, who has participated in many of the charities and charitable events that I have been involved with.