Kacee Johnson, CPA.com VP of Strategy & Innovation, shares insights on AI in accounting, discussing CPA.com’s generative AI toolkit, practical use cases, initial steps for CPAs, and potential challenges in adopting AI tech in this podcast from the Maryland Association of CPAs (MACPA).
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Respondents who complete the survey will gain access to in-depth, individualized data to help shape their CAS practice strategies
NEW YORK (May 23, 2024) – CPA.com, the business and technology subsidiary of the American Institute of CPAs (AICPA), is currently accepting responses to its fourth bi-annual Client Advisory Services (CAS) Benchmark Survey, which aims to understand the transformation and growth of the client advisory services practice area.
The survey is open to practitioners and firm leaders offering transactional accounting and bookkeeping through advisory services in the U.S., regardless of firm size.
The 2024 survey will help firms benchmark their successes, identify areas for improvement, and create new goals that drive practice transformation. Participants will receive extensive data to assess how they compare to peer firms and the highest-performing practices in the country. The insight will help CAS practices identify where they are excelling, areas for improvement and key KPIs and benchmarks to apply moving forward.
“We chose to participate in the CAS Benchmark Survey because we needed a way to analyze how we were performing in our CAS practice and measure ourselves against other firms,” said Krista Richardson, Director-Client Accounting Services at Lucas Horsfall Accountants & Advisors, who participated in the 2022 benchmark survey. “The CAS Benchmark Survey taught us that we’re actually a better CAS practice than we ever thought we were. We also learned where other firms were performing better and what we need to aim for. That’s been instrumental in defining the next steps to take.”
Survey responses will be accepted through June 26.
Only survey participants will receive robust, individualized comparison data. A summary of key survey insights will be included in the 2024 CAS Benchmark Survey report that will be released later this year.
For more information or to get started, please visit the CPA.com CAS Benchmark Survey page.
About CPA.com
CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus.
Our company’s core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners.
A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession. For more information, visit CPA.com.
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Growing excitement from users on power and benefits of transformational tool
New York, NY (May 14, 2024) - CPA.com today shared the latest highlights related to the Dynamic Audit Solution (DAS), a major initiative from the AICPA and CPA.com that targets audit transformation through a comprehensive, end-to-end, cloud-based solution built by auditors, for auditors.
Powered by a transformative methodology developed by the AICPA, and in partnership with audit professionals from leading firms, DAS is enhancing the efficiency, quality, and client value of financial statement audits through a risk-focused, data-driven approach. Built on the Caseware Cloud platform, DAS features guided workflows, real-time collaboration and a fully integrated methodology from start to finish to support an enhanced auditor and client experience.
Launched commercially in June 2023, DAS adoption has accelerated significantly:
FIRM USAGE
FIRM FEEDBACK
Users of the platform are providing valuable insights and perspectives on their experiences with the solution:
Efficiency and efficacy of audits
– Sarah Flischel, CPA, Director, AAFCPAs
Talent attraction, retention and upskilling
Greater client value
INTERESTED IN LEARNING MORE ABOUT DAS FOR YOUR FIRM?
ADDITIONAL RESOURCES
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Program Fosters Emerging Technologies that Benefit the Accounting and Finance Profession
NEW YORK (March 12, 2024) – Today the American Institute of CPAs (AICPA) and CPA.com announced the participants of its 2024 Startup Accelerator program, which will kick-off this week at a meeting at their headquarters in New York. This year’s participants include seven early-stage companies leveraging artificial intelligence (AI) aimed at creating efficiencies and enhancing value in services across audit, accounting, tax advisory and firm management.
The Startup Accelerator supports the growth of early-stage technology companies benefiting the accounting and finance ecosystem. Selected companies receive focused insights from subject matter experts and firm and finance leaders who are reshaping the profession. They also benefit from strategic intelligence, business acumen and guidance from AICPA and CPA.com senior leaders and the program’s advisory board members. Additionally, selected companies will receive a $25,000 grant and have an opportunity to showcase their solutions at AICPA & CIMA ENGAGE, the premier conference for the accounting and finance profession that will be held in June at the ARIA Resort & Casino in Las Vegas.
“Artificial intelligence is going to play an increasingly strategic role in the world of accounting and finance,” said Kacee Johnson, vice president of Strategy & Innovation at CPA.com. “Our responsibility is to stay ahead of trends in technology so we can identify and foster solution providers with the best potential to meet the changing needs of the profession. The Accelerator program is a great way to stay current with the latest entrants into the ecosystem and connect these providers with CPAs that can put their solutions to work.”
The following technology providers were selected for inclusion in the 2024 cohort:
This year’s AI-focused cohort is part of a broader Generative AI initiative by CPA.com to support the profession in understanding and harnessing the capabilities of this rapidly expanding technology, including a GenAI toolkit, an AI Symposium and other resources housed at CPA.com/gen-ai.
For more information about the Startup Accelerator, please visit cpa.com/accelerator.
About CPA.com
CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus.
Our company’s core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners. A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession. For more information, visit CPA.com.
About the American Institute of CPAs
The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 431,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, and federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the profession.
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AICPA and CPA.com host inaugural AI Symposium to explore the implications and opportunities of artificial intelligence for the accounting and finance profession.
NEW YORK (Jan. 24, 2024) – Leaders from across the accounting and technology ecosystem convene today at the inaugural AICPA and CPA.com AI Symposium to exchange insights and perspectives on the real and potential impacts and transformative abilities of artificial intelligence on the accounting profession.
The event, hosted by the American Institute of CPAs (AICPA) and CPA.com, its business and technology subsidiary, brings together more than 70 firm and finance leaders, standard setters, thought leaders, AI solution providers and technologists to identify the ways AI is reshaping the profession and creating new possibilities, along with the risks and considerations to be addressed for effective implementation.
“GenAI has the potential to revolutionize the way firms deliver value and business insights, while also increasing their capacity to do so. When implemented correctly, it can deepen the trusted advisor relationship and unlock new opportunities for growth,” said Erik Asgeirsson, CPA.com president and CEO. “We’re energized by the response to this first symposium and the leadership underway to support firms and finance professionals in the responsible and effective deployment of its transformational capabilities. We look forward to building on the momentum.”
The symposium agenda covers key areas of leadership and focus including AI standards and regulations, advocacy initiatives, AI-enabled technology solutions, education and awareness for practitioners, and use cases related to internal management and practice areas encompassing tax, audit, finance and advisory services. CPA.com will release a whitepaper in March that recaps key themes and takeaways from the event sessions, including:
The event will also feature remarks from Erik Asgeirsson and Sue Coffey, CEO of Public Accounting at the AICPA, as well as an interactive session led by Kacee Johnson, VP-Strategy & Innovation, CPA.com, and Jason Staats, president, Realize LLC.
“As a trusted profession, we must remain agile in our pursuit to keep up with the speed and transformational capabilities of technology, but we must also be diligent in our commitment to adopt it securely,” said Sue Coffey, CPA, CGMA. “Working with policymakers and establishing and adopting standards and practices that instill confidence in financial and non-financial data and information remains a top priority for us as we deploy initiatives and resources to support CPAs and CGMAs.”
Resources to support accounting and finance professionals
The AI Symposium is part of the AICPA and CPA.com’s ongoing efforts to deliver education, tools and resources to help accounting and finance professionals build their understanding of GenAI and the potential impact on their practices during this time of rapid change, including:
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