Automated Solution for Preparation, Compilation and Review Engagements Honored by CPA Practice Advisor

NEW YORK (July 26, 2018) – OnPoint PCR, a smart, cloud-based solution that transforms how CPA firms conduct preparation, compilation, and review engagements, was the recipient last night of a 2018 Tax and Accounting Technology Innovation Award from CPA Practice Advisor, a leading publication for the accounting profession.

OnPoint PCR was developed by CPA.com, the American Institute of CPAs and CaseWare International Ltd. It enables intelligent, guided engagements – powered by CaseWare’s cloud platform and informed by AICPA technical guidance – that allow CPA firms to enhance engagement quality, streamline proper documentation, and be more productive.

“Automation is set to transform audit and assurance services, and OnPoint PCR offers a glimpse of the future ahead,” said Erik Asgeirsson, president and CEO of CPA.com. “More than 19,000 U.S. firms are engaged in preparation, compilation and review work, and this solution is an essential tool for providing high-value advisory services to clients in this area.”

According to CPA Practice Advisor, the Tax & Accounting Technology Innovation Award is meant to recognize “outside-the-box thinking in product development, breakthrough technologies, state-of-the-art design and implementation, and cutting-edge concepts that help accounting professionals and their clients be more productive and profitable.”

“I’m so pleased our panel of judges chose to include OnPoint PCR as one of this year’s Tax and Accounting Technology Innovation Award winners,” said Gail Perry, editor-in-chief of CPA Practice Advisor. “These prestigious awards recognize the products that are changing the way accountants do business, and OnPoint is a shining example of just that.”

The award was presented at the California Accounting & Finance Show in Los Angeles.

“We’re honored to receive this prestigious award,” said Dwight Wainman, CEO of CaseWare. “It’s a strong endorsement of the significant impact OnPoint PCR will have on this practice area for CPA firms.”

For more information about OnPoint PCR, please visit CPA.com/OnPoint.

About CaseWare

CaseWare International Inc. is the leading global provider of cloud enabled audit, financial reporting and data analytics solutions. With efficiency, quality and value in mind, CaseWare provides cutting-edge technology to accounting firms, businesses and government entities. Over 400,000 users, in 130 countries and in 16 languages, use CaseWare solutions.

About CPA.com

CPA.com is known for bringing 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.

Two July 10 Webcasts Explore Implications of Wayfair Decision for CPA Firms and Their Clients

NEW YORK (June 25, 2018) – CPA.com and its preferred provider of sales and use tax solutions, Vertex, are offering a pair of July 10 webcasts on the impact of the Supreme Court’s major ruling Thursday on state collection of sales tax for online retailers.

In South Dakota v. Wayfair, Inc., the Supreme Court held that e-commerce companies can be required to collect sales tax, even in states where they have no physical presence. Brick-and-mortar businesses had long complained that online retailers had an unfair advantage because states’ authority to collect revenue from them was limited.

“Sales and use tax compliance is an area of growing complexity for businesses, and many will need help navigating the outcomes of the Wayfair decision,” said Erik Asgeirsson, president and CEO of CPA.com. “We saw these issues coming to a forefront several years ago, which is why we launched our program with Vertex. Companies will likely need new technologies or processes to comply with this latest ruling, and CPAs can play a key advisory role for these clients.”

The two webcasts are:

• “Navigating a Changing Sales & Use Tax Environment” – This session is aimed at CPA firms who currently help clients comply with sales and use taxes, or want to build out their services in this area.
• “Supreme Court Wayfair Decision: Now What?” – A panel of tax experts explore the court ruling from a business standpoint and discuss steps companies should be taking to maintain compliance.

“We are going to see states responding immediately and it will get even more complex for businesses as they face new rules and regulations,” said Craig Cookle, CPA, partner-in-charge of the state and local tax group for Wipfli LLP, a Top 20 accounting firm that uses the Vertex program through CPA.com. “As a trusted business advisor, there is a huge opportunity to reach out to clients, help them through the process and analyze next steps.”

To learn more about the impact of the Wayfair decision, see these FAQs from Vertex. For more information about resources for sales and use tax compliance, visit cpa.com/vertex.

About CPA.com

CPA.com is known for bringing 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.

OnPoint PCR Combines Powerful Cloud Platform with AICPA Content and Methodology

LAS VEGAS (June 11, 2018) – CPA.com and CaseWare International Inc. today announced the commercial launch of OnPoint PCR, a smart, cloud-based solution that transforms how CPA firms conduct preparation, compilation, and review engagements.

By integrating content and methodology into a leading technology platform, OnPoint PCR offers a unique opportunity for firms to enhance engagement quality and be more productive. The solution – a collaboration of CPA.com, CaseWare and the American Institute of CPAs – offers a guided, smart process for practitioners, from drafting a customized engagement letter and report (where applicable) to documenting specific procedures, all designed to streamline engagements.

Today, more than 19,000 U.S. firms perform preparation, compilation, and review engagements as their highest level of service.

“With OnPoint PCR, we can really help firms drive efficiency and add client value,” Erik Asgeirsson, president and CEO of CPA.com, said at AICPA ENGAGE. “The platform helps practitioners optimize engagements for each client, and these features will become even more powerful as OnPoint’s artificial intelligence capabilities evolve.”

OnPoint’s features include:

• Guided engagements – The smart, interactive process eliminates unnecessary steps and facilitates compliance with standards
• Integrated data – Simplifies data management and the import of client data, and reduces redundant data entry
• Robust cloud platform – Real-time updates to data and built-in collaboration tools that eliminate the need for external programs, such as less-secure email

“A solution that includes intelligent checklists informed by AICPA technical guidance will help practitioners focus on adherence to standards and the firm’s quality control process,” said Susan Coffey, CPA, CGMA, the AICPA’s executive vice president of public practice. “CPAs still must exercise professional judgment, and OnPoint supports proper documentation and promotes consistency and quality in engagements.”

CPA.com will be demonstrating OnPoint PCR’s features at its booth in the exhibit hall throughout AICPA ENGAGE, which runs through June 14. There will also be a demo at 6 p.m. PDT on Wednesday, June 13, at the event’s TECH Zone.

“Technology offers great potential in attest services, but it’s only part of the equation,” said Dwight Wainman, CEO of CaseWare. “Our collaboration with CPA.com and the AICPA gives us greater visibility into CPA firms’ needs, plus the critical content and methodology these firms rely on. Together, we believe we can really bring positive change to this practice area.”

For pricing information and other details, please visit CPA.com/OnPoint.

About CaseWare

CaseWare International Inc. is the leading global provider of cloud enabled audit, financial reporting and data analytics solutions. With efficiency, quality and value in mind, CaseWare provides cutting-edge technology to accounting firms, businesses and government entities. Over 400,000 users, in 130 countries and in 16 languages, use CaseWare solutions.

About CPA.com

CPA.com is known for bringing 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 137 countries and territories, 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, 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.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Media representatives are invited to visit the AICPA Press Center at www.aicpa.org/press.

About the Association of International Certified Professional Accountants

The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 667,000 members and students across 184 counties and territories in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.

Symposium Hosted by AICPA and CPA.com Focuses on Impact of the Technology in Accounting, Auditing, Tax and Finance

NEW YORK (May 8, 2018) – More than 60 leaders from innovative CPA firms, technology companies, consulting firms and influencer groups came together last week to map out strategy for the advancement of blockchain technology within the accounting profession. A timetable was also set for the creation of working groups, educational materials and other goals.

The event, the Blockchain in Accounting Symposium, was hosted May 2 by the American Institute of CPAs and its technology subsidiary, CPA.com, and is part of a larger collaboration with the Wall Street Blockchain Alliance (WSBA), a leading nonprofit trade association promoting the adoption of blockchain technology across global markets.

Blockchain is a secure, distributed database that leverages cryptography and peer-to-peer technology to group data into blocks and create an immutable chain of transactions. Its emergence is widely seen as having significant implications for the evolution of financial audits and other complex processes that require verification and confirmation.

“This was a strategic and important discussion related to the new capabilities and opportunities blockchain offers to many areas of the practice,” said Erik Asgeirsson, president and CEO of CPA.com. “With this group of leading experts, we defined a list of key areas of focus for the coming year for our working groups."

Next steps include:

• Distribution of a report later this month that synthesizes the symposium’s findings
• Formation this summer of blockchain-related working groups by practice area
• Release of initial materials from the working groups by November

“We expect blockchain will impact all areas of practice,” said Susan S. Coffey, CPA, CGMA, executive vice present for public practice for the Association of International Certified Professional Accountants. “Collaboration will be critical to the profession’s success. We received feedback from a broad range of experts at the symposium, and we heard their urgency about making tangible progress.”

The AICPA and CPA.com formed an alliance with the WSBA this past October to help guide and speed the adoption of blockchain technology. The AICPA and CPA.com are administering the WSBA’s working group on tax and accounting, a focal point for advocacy and education on blockchain implementation within the profession.

“The WSBA is proud to be part of this accelerating effort to guide the evolution of the global accounting profession in a future with blockchain technology,” said Ron Quaranta, chairman of the group. “Across the range of accounting workflows, from auditing to tax, financial reporting and beyond, we look forward to our continued joint efforts to advance the world of accountancy and its use of blockchain technology.”

About CPA.com

CPA.com is known for bringing innovative solutions to the 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 advance the technology ecosystem for the accounting profession, drive the transformation of practice areas, 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 418,000 members in 143 countries, 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, 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.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Media representatives are invited to visit the AICPA Press Center at aicpa-cima.com/resources/landing/press-center.

About the Association of International Certified Professional Accountants

The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 650,000 members and students in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.

About the Wall Street Blockchain Alliance

The Wall Street Blockchain Alliance (WSBA) is an industry leading 501(c)(6) non-profit trade association created for global market professionals. Its mission is to guide, influence and promote comprehensive adoption of blockchain and distributed ledger technology across global markets.

For information about the WSBA, including membership, visit www.wsba.co or email to info@wsba.co.

NEW YORK (March 12, 2018) --Tim Christen, CPA, CGMA, former chairman of the American Institute of CPAs, has been named to the board of directors of CPA.com.

Christen is currently chairman of Baker Tilly International, one of the ten largest global accounting and advisory firm networks, and formerly CEO of Baker Tilly Virchow Krause LLP, a top 15 U.S. firm with revenue of more than $500 million. As chair of the AICPA, Christen championed innovation and rapid technology adoption. He also played a key role in securing membership approval for the formation of the Association of International Certified Professional Accountants, the 650,000-member global accounting organization that serves as the unified voice of the AICPA and the Chartered Institute of Management Accountants (CIMA).

“Tim brings an important strategic perspective to our board,” said Erik Asgeirsson, president and CEO of CPA.com. “As an experienced and respected firm leader, his insight and guidance will inform how we work with firms to transform core practices areas. It’s an exciting time for both the company and the profession and we’re fortunate to have someone with Tim’s background join the board at this critical juncture.”

Christen has been recognized by Accounting Today as one of the Top 100 most influential people in the profession, and by Inside Public Accounting as one of the five most admired U.S. managing partners.

"We're entering a critical time regarding the evolution of the audit and how that impacts the profession," said Barry C. Melancon, CPA, CGMA, president and CEO of the American Institute of CPAs, the parent organization of CPA.com. "Having someone with Tim's large firm and auditing background on the CPA.com board will help us greatly in setting our strategic roadmap."

About CPA.com

CPA.com is known for bringing innovative solutions to the 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.

The company’s core mission is to advance the technology ecosystem for the accounting profession, drive the transformation of practice areas, 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.