More than 1,300 innovative professionals came together at our 2024 Digital CPA conference last week to explore the key opportunities and challenges shaping the future of the profession and charting a pathway of possibilities for their firms.
From the rapid adoption of AI to the reimagining of firm business models, this year highlighted the critical role of intentional strategy and leadership in driving meaningful progress.
As you look to 2025 and beyond, here are strategies to consider to empower your firm’s ongoing success:
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Unlocking the potential of AI. AI is no longer theoretical—it’s driving real change across accounting and finance, accelerating the shift toward advisory services and offering firms a viable solution to help address talent and capacity challenges. CPA.com and the AICPA remain committed to helping practitioners understand and maximize the capabilities of AI. CPA.com’s award-winning AI toolkit and multi-part GenAI initiative offer tools and resources to support safe and strategic adoption, helping firms like yours navigate this exciting evolution.
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Capitalizing on growth in client advisory services (CAS). CAS is continuing its double-digit growth trajectory and presenting significant opportunities for firms that are taking an intentional approach to building and growing their practices. According to our newly released CAS Benchmark survey report, CAS practices reported median growth of 17%—outpacing overall firm growth. And they are leveraging new capabilities, strategies and services to provide higher-level business insights to clients.
CPA.com is focused on empowering firms of all sizes to understand the CAS opportunity and maximize value and growth potential. Through our CAS Professional Services, we deliver a customized approach and access to guided coaching cohorts, workshops, and new toolkits and self-studies for firms new to CAS and those looking to build up an existing practice.
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Driving audit transformation. Audit is the latest of the practice areas to undergo a major shift to the cloud. This is being driven by the availability of more cloud-based solutions, as well as a desire by firms to deliver deeper insights and more comprehensive risk management for their clients.
Many top 100 firms are now on a path of full migration of the Dynamic Audit Solution (DAS), which integrates cutting-edge AICPA methodology into a fully cloud-based platform. CPA.com supports firms through this transition with readiness assessments, consulting and implementation services that help firms navigate this shift and unlock the full potential of data-driven auditing.
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Evolution of firm strategies and structures. Leading firms are reimagining their business models to drive transformation and sustain long-term success. By accelerating technology adoption to streamline tasks and exploring innovative ownership structures like private equity or employee stock ownership plans (ESOP) they’re optimizing for growth. Updated compensation and retention strategies are also helping firms address workforce challenges, ensuring they’re well-positioned to thrive in a rapidly changing landscape.
We’re glad to have you be part of the Digital CPA community—together, we are not just navigating change, we’re reshaping the future. You can stay connected with the community throughout the year by subscribing to the new Digital CPA podcast. And you can find the latest insights and learnings to empower your firm’s evolution at CPA.com/resources.
Best wishes for the year ahead.
About the author
As president and CEO of CPA.com, Erik Asgeirsson has led the charge in in getting the profession to adopt cloud
technologies, laid the groundwork for the success of client advisory services (CAS), is focusing on building the
future of the audit with the Dynamic Audit Solution (DAS) and is helping firms embrace emerging technologies and
opportunities, such as GenAI and ESG. Erik is also the co-founder and host of the award-winning AICPA Town Hall.
