Application window open until Nov. 30, 2022

NEW YORK (Aug. 11, 2022) – CPA.com and the American Institute of CPAs (AICPA) are seeking applicants for the 2023 startup accelerator program, which specializes in early-stage technology companies benefiting the accounting and finance ecosystem. The 2023 program is open to pre-Series A startups around the world. Successful applicants receive $25,000 in seed funding and insider-level access to the subject matter experts, executives, firms, and finance leaders. They also benefit from business intelligence and insights from senior leaders at both the AICPA and CPA.com, as well as the program’s advisory board members, who bring diverse backgrounds and complementary skills in entrepreneurship, startup tech companies, accounting and finance.

“This program helped us accelerate our learning by 12-18 months,” says Adam Bercovici, founder and chief revenue officer for Canada-based LumiQ, a participant in the 2022 program. “LumiQ had a front row seat to the people shaping the future of the accounting professional globally. The team opened doors for us, made introductions to their network, and gave us the credibility we needed to enter the US market with a bang.”

Applications for the 2023 accelerator close on Nov. 30, 2022. Selections will be announced in February 2023. Companies that are accepted into the program will be featured next summer at AICPA & CIMA ENGAGE 2023, one of the leading accounting and finance conferences in the world. Later in the year, they will be featured at the AICPA/CPA.com Digital CPA Conference. “At CPA.com, we’re focused on applying practical innovation every day,” said Erik Asgeirsson, president and CEO of CPA.com. “That’s what makes this program so special – it allows the profession to tap into some of the most exciting innovations, and it helps these startups develop products and services that are finely tailored to the needs of the profession.”

To be eligible, companies should:

• Have a working product or service
• Be at seed or pre-Series A stage (with some exceptions)
• Focus on accounting, tax, fintech, regulatory technology, cyber or ESG solutions

“This program gave us access to finance and accounting professionals, which proved invaluable in helping us better understand the industry’s pain points on environmental, social and governance issues, as well as climate disclosure,” said Alyssa Rade, chief sustainability officer for Sustain.Life. “This has been instrumental in helping us build solutions that meet those unique needs.”

For questions about the program, please contact Vendela Hale, manager of corporate alliances for CPA.com, at vendela.hale@hq.cpa.com. You can also join our upcoming AICPA and CPA.com Startup Accelerator webinar, Oct. 19 at 2pm ET, to learn more about emerging technologies and meet the startup companies representing the 2022 cohort.

To apply for the 2023 cohort, please visit the accelerator program page at https://accelerator.cpa.com.

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 Association of International Certified Professional Accountants, and AICPA & CIMA

The Association of International Certified Professional Accountants (the Association), representing AICPA & CIMA, advances the global accounting and finance profession through its work on behalf of 689,000 AICPA and CIMA members, students and engaged professionals in 196 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license and specialized credentials, professional education and thought leadership. We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.

The American Institute of CPAs (AICPA), the world’s largest member association representing the CPA profession, sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state and local governments. It also develops and grades the Uniform CPA Examination and builds the pipeline of future talent for the public accounting profession.

The Chartered Institute of Management Accountants (CIMA) is the world’s leading and largest professional body of management accountants. CIMA works closely with employers and sponsors leading-edge research, constantly updating its professional qualification and professional experience requirements to ensure it remains the employer’s choice when recruiting financially trained business leaders.

AICPA and CPA.com host inaugural Environmental, Social and Governance (ESG) Symposium to discuss the opportunities and impact of ESG for the accounting and finance profession

NEW YORK (May 25, 2022) – Top leaders in the environmental, social and governance (ESG) space convened yesterday at the inaugural AICPA and CPA.com ESG Symposium to exchange ideas and perspectives on emerging issues and to discuss the critical role of the finance and accounting profession within the ESG category.

The event, hosted by the American Institute of CPAs (AICPA) and its business and technology arm CPA.com, brought together a diverse group of more than 50 investors, CPA firm leaders, corporate finance officers, technologists, standard setters, lenders and thought leaders to identify, categorize and prioritize the myriad interest areas in the ESG ecosphere for the accounting and finance profession.

“We couldn’t be more energized by the success of our first ESG Symposium. The event brought together top leaders to discuss the accelerating market demand for ESG services, the opportunities it offers for the accounting and finance profession, and the leadership underway across the various stakeholder groups,” said Erik Asgeirsson, president and CEO of CPA.com. “We look forward to continuing to build on this momentum to provide leadership across the entire ESG ecosystem.

The symposium agenda covered topics ranging from changing regulatory requirements, new reporting standards, marketplace demands and the growing need for ESG advisory and assurance services. CPA.com will release a special report later this year that recaps key themes and takeaways from the event. Some of those include:

• The confluence of proposed international and national ESG regulations that are creating momentum in the ESG space. The profession has a strong voice in helping shape the future of global ESG standards.
• CPAs are well positioned to meet marketplace demands with the innate skills, experience and systems to assure the performance of quality services and core values of independence, integrity and competency. Firms are already building on services to help clients with their ESG strategy, reporting and assurance needs.
• Corporate finance leaders are beginning to lead internal efforts to gather and report on ESG efforts to improve decision-making and demonstrate value creation.
• ESG covers broad and nascent topics. Accounting and finance professionals will need to expand their knowledge of the category to best advise clients and organizations on ESG best practices.
• Today’s consumers and employees want to buy from - and work for - organizations whose values align with their own. Firms and organizations that adopt ESG practices will be well positioned to secure top talent and build strong client and customer relationships.
• Investors, particularly the younger generation, want to work with companies that invest responsibly and balance purpose with profit. ESG reporting will become a cornerstone of financial reporting.

The ESG Symposium will become an annual event and will follow a similar format to the AICPA & CPA.com Blockchain Symposium, which is now in its sixth year.

“AICPA & CIMA have worked hard to promote the consolidation of global standards for ESG, and the category is a significant strategic focus for us as it becomes more central to business decision-making,” said Susan Coffey, CPA, CGMA, CEO – Public Accounting, Association of International Certified Professional Accountants. “We’ve been supporting ESG initiatives for well over a decade and we’re seeing new momentum from policy makers and heightened demand from investors, lenders and other market participants for this kind of information. The symposium serves as a great listening post and source of input from key leaders in the ESG space in accounting and finance.”

Resources to support accounting and finance professionals

The Association of International Certified Professional Accountants, the unified voice of AICPA and CIMA, recognizes the growing opportunity for CPAs and finance professionals to elevate their role as trusted advisors in the ESG space and has introduced several initiatives and resources including:

• Sustainability Attestation Guide
• Sustainability Assurance online course
• ESG Practice Aid – Considerations of ESG in an Audit
• ESG update from AICPA Town Hall
• An ESG-focused Startup Accelerator cohort to support the development of ESG technology tools for the profession
• ESG Fundamental Course – coming soon

For more information, please visit http://aicpa.org/esg.

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 Association of International Certified Professional Accountants, and AICPA & CIMA The Association of International Certified Professional Accountants (the Association), representing AICPA & CIMA, advances the global accounting and finance profession through its work on behalf of 689,000 AICPA and CIMA members, students and engaged professionals in 196 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license and specialized credentials, professional education and thought leadership.

We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.

The American Institute of CPAs (AICPA), the world’s largest member association representing the CPA profession, sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state and local governments. It also develops and grades the Uniform CPA Examination and builds the pipeline of future talent for the public accounting profession.

The Chartered Institute of Management Accountants (CIMA) is the world’s leading and largest professional body of management accountants. CIMA works closely with employers and sponsors leading-edge research, constantly updating its professional qualification and professional experience requirements to ensure it remains the employer’s choice when recruiting financially trained business leaders.

Expense management and software-enabled corporate card will support CPA firms in delivering next-level client advisory services (CAS)

SAN JOSE, Calif. – March 8, 2022 – Bill.com (NYSE: BILL), a leading provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs), announced today that Divvy, a Bill.com company, has been named CPA.com’s new exclusive partner for expense management, corporate cards*, and spend management. This move expands the partnership between CPA.com and Bill.com, CPA.com’s exclusive partner for bill management since 2008, and replaces the previous expense management solution with a new offering that will unite all bill payments, expense management and card spending in one comprehensive solution. A key strategy in supporting CPA.com’s updated client advisory services (CAS) 2.0 framework, firms can now have the technology tools to provide more strategic counsel for clients.

"We're excited to build on our partnership with CPA.com, as we continue to deliver on our vision of an all-in-one financial operations solution for customers,” said René Lacerte, CEO and Founder at Bill.com. “The powerful combination of Divvy and Bill.com provides businesses with the ability to see 100% of their B2B spend, giving accounting firms a tremendous advantage to level up their advisory services and provide more value to their clients."

According to CPA.com’s recent CAS Benchmark Survey, CAS is the fastest growing practice area for accounting firms. To help firms keep pace with demand and realize the full potential of CAS, CPA.com recently introduced CAS 2.0 for business transformation and change management, providing firms with a more holistic vision and approach to drive firmwide adoption of CAS.

“As CAS continues to grow, becoming a more critical part of firms’ offerings, they need a comprehensive technology solution that provides their clients greater access to business credit, increased control over spending and a real-time view of their finances,” said Erik Asgeirsson, President and CEO of CPA.com, the technology business subsidiary of the American Institute of CPAs (AICPA). “Bill.com’s Divvy Accountant Advisor Program, in partnership with CPA.com, empowers accounting firms with an integrated software solution and corporate card for their CAS clients, allowing them to deliver higher-value advisory services.”

Divvy provides an all-in-one expense management platform that pairs corporate cards with Divvy’s automated software to more effectively manage credit card spending, expenses, and budgets. For accounting firms looking to deliver on next-generation advisory services, this provides a key differentiator and strategic advantage.

The Divvy Accountant Advisor Program, in partnership with CPA.com, provides accounting firms and their clients the ability to:

• Automate previously manual, time-consuming tasks, such as expense reports
• Have real-time visibility and insight into business spend
• Control budgets and spending activity in real-time from a mobile phone
• Manage Divvy corporate cards with simple, easy-to-use, integrated software

Benefits to firms include:

• Easy access and real-time visibility into client spend and expenses
• Exclusive promotions and rewards for firms and their clients
• Tailored training and content to support firms’ success with the new solution and capabilities
• Dedicated partner support and resource hub complete with templates and materials to enable client success
• Co-marketing and promotional opportunities including customer success stories and more

Client benefits include:

• Free, award-winning spend and expense management software
• Exclusive Divvy and Bill.com offers and incentives

“Divvy puts the power in the business owner’s hands when it comes to managing spend. Especially after the last two years where cash flow was so critical and a remote workforce added layers of complexity, businesses need tools that make it easier for them to operate at their best. Divvy’s spend management solution starts with putting the right controls on budget and expenses in place and makes it simple to onboard new employees without losing that control. And with the partnership and support that Bill.com and Divvy have always delivered, this is truly a best-in-class solution.” — Nick Pasquarosa, Founder & CEO, Bookkeeper360

Read more about this partnership here. To learn more about how CAS practices can benefit from this program, join CPA.com, Divvy and a firm practitioner, on a free-CPE live webinar on March 30th. To learn more about the Divvy Accountant Advisor Program, click here.

About Bill.com
Bill.com is a leading provider of cloud-based software that simplifies, digitizes, and automates complex, back-office financial operations for small and midsize businesses. Customers use the Bill.com platform to manage end-to-end financial workflows and to process payments. The Bill.com AI-enabled, financial software platform creates connections between businesses and their suppliers and clients. It helps manage cash inflows and outflows. The company partners with 6 out of 10 of the largest U.S. financial institutions and 85 of the top 100 U.S. accounting firms, and popular accounting software providers. Bill.com is headquartered in San Jose, CA. For more information visit www.bill.com.

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 U.S., with a growing global focus. CPA.com is a subsidiary of the American Institute of CPAs (AICPA) and part of the Association of International Certified Professional Accountants (AICPA & CIMA), the most influential body of accounting and financial professionals worldwide. Learn more about CAS 2.0.

*Card issued by Cross River Bank, Member FDIC

Program from the AICPA and CPA.com expands to include a second cohort focused on ESG solutions

NEW YORK (Feb. 24 2022) – Ten early-stage companies pursuing a variety of solutions in audit, AI, risk reporting, education, and environmental, social and governance (ESG) issues, have been selected to participate in the 2022 Startup Accelerator, sponsored by the American Institute of CPAs (AICPA) and CPA.com. The annual program, now in its fifth year, expanded to include an ESG specific cohort for 2022.

The Startup Accelerator supports the growth of early-stage technology companies throughout the accounting and finance ecosystem. It also provides the AICPA and CPA.com more visibility into disruptive trends from emerging technologies that are transforming the accounting profession. Selected companies receive a $25,000 grant, participate in a six-month curriculum, receive guidance from expert advisors, and have an opportunity to showcase their solutions at AICPA ENGAGE, the profession’s largest conference.

“We created this program five years ago as a way to identify emerging trends and drive innovation within the accounting profession,” said Erik Asgeirsson, president and CEO of CPA.com. “The Accelerator has been a great success, supporting leading-edge companies to help drive the transformation of accounting services in key areas such as blockchain, assurance, ESG and automation.”

The 2022 cohort is comprised of the following technology solutions:

• AuditMiner – The Omaha-based company’s solution leverages automation to streamline and standardize audit workpapers and templates, increasing the quality and consistency of Employee Benefit Plan (EBP) audits across a CPA firm.
• Once Accounting – (formerly BaCo Tech) - Managing clients’ records across multiple platforms can be challenging. Dallas-based Once Accounting is a client integration platform that seamlessly incorporates records into a firm’s tax or accounting solution
• Fieldguide – Based in San Francisco, Fieldguide is an automation and collaboration platform that streamlines the end-to-end engagement workflow for modern risk assurance and advisory firms.
• LumiQ – The Canadian-based company offers a native podcast app where engaging conversations with business leaders count as verified CPE or CPD credits. CPAs and accountants can earn credits on their commute, at the gym or walking their dog.
• Knuula – Client Engagement Letters can be time-consuming and difficult to customize. Knuula, based in Frisco, Texas, streamlines the process by enabling firms to easily customize, distribute and manage client engagement letters.
• Caesar Sustainability – The remote-based company offers a comprehensive data collection and management platform to centralize workflows and data storage for ESG reporting
• ESG Trust – The San Francisco-based company’s integrated data management solution identifies ESG risks opportunities, measures standards, and maps stakeholders to the value chain, streamlining ESG information gathering and collaboration.
• GoodLab – Based in San Francisco, the company’s ESG performance management and compliance software enables organizations to transform their ESG data reporting engine to deliver actionable insights and data to management, investors and customers.
• Sustain Life – The company’s SaaS platform helps companies across industries reduce their environmental impact by providing ESG tools that enable the measurement and management of their carbon emissions.
• Standard Carbon – Carbon is the newest asset class in ESG reporting but has yet to be recognized on the balance sheet. Standard Carbon, based in Winnipeg, Canada, aims to change that by leveraging AI to deliver transparent, carbon offset assurance statements.

“The Startup Accelerator has always been about identifying emerging trends and ESG is a tremendous opportunity for the accounting profession,” said Barry Melancon, CPA, CGMA, president and CEO of the Association of International Certified Professional Accountants. “The expansion of this year’s program to include a second cohort focused on ESG is reflective of the growing opportunity for CPAs and firms to elevate their role as trusted advisors, as well as the Association’s commitment to the space.”

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.

Asgeirsson Says Technological Adoption is Spurring Demand for Firm Advisory Services

NASHVILLE (Dec. 8, 2021) – Advances in technology, the pandemic-related shift to a fully digital workplace and rapidly evolving business models are creating huge opportunities for CPA firms – provided they take the necessary steps to stay ahead of the curve, said Erik Asgeirsson, president and CEO of CPA.com.

The accounting profession proved its worth over the past two years, strengthening its bonds with small business owners and playing a crucial role in delivering business relief, Asgeirsson said during his keynote presentation at the Digital CPA Conference, which concludes today. That credibility is helping to fuel what was an already growing opportunity in advisory services, although firms face challenges from non-CPA external providers making use of disruptive technology.

Asgeirsson discussed several trends from the past year, including:

Growth Opportunities in Client Advisory Services (CAS). Research from CPA.com shows a heightened demand for CAS services, with a 20% median growth rate in net client fees that outpaces traditional practice areas. New capabilities in such areas as financial planning & analysis, business intelligence and other key areas suggest there’s more room to define and expand the category and build client value. CPA.com plans to offer new tools and learning opportunities in the coming year to help firms make that leap.

“The challenge is how to elevate, enhance and evolve CAS to bring the next level of service, what we’re calling CAS 2.0,” Asgeirsson said. “No firm has fully optimized the service line yet.”

Fintech Comes of Age. Some 81 percent of consumers now use fintech and the industry amply proved its value to business over the past 20 months, with digital lenders leading the way on the Small Business Administration’s Paycheck Protection Program (PPP) and other relief programs. The components of this category are maturing and expanding, from online lending and regulatory technology to increased uptake of online payments, Asgeirsson said.

CPA.com and leading fintech Biz2Credit last year developed the CPA Business Funding Portal, which served as a platform for CPA firms to effectively manage business relief for their clients. The portal is now adding term-loan options for CPA firms’ clients, a recognition that business funding advisory services will become increasingly important going forward.

Rohit Arora, co-founder and CEO of Biz2Credit, joined Asgeirsson on stage and likened small business clients’ changed perceptions about the fintech industry to the 1969 moon landing. “The Eagle has landed,” he said. “The future is here now. The customer is totally ready to be digital.”

Client Relationships Drive Value. Maximizing value to clients often comes down to a firm’s structure and strategy, Asgeirsson said. Forward-looking firms don’t just update their technology, they examine their business model and client base to make sure they’re aligned with top performance. Firms can embark on that strategic review now to make sure that necessary changes are in place before busy season.

The Importance of Investing at the Edge – CPA.com and AICPA & CIMA continue to take a leading role in moving the profession forward on innovation, Asgeirsson said. One example is the development of the Dynamic Audit Solution, which will transform audit methodology and give rise to the modern, data-driven audit. Others include the organizations’ annual blockchain symposium, the startup accelerator program for accounting technology, regulatory tech and ESG-related early-stage companies, and the .cpa web domain now rolling out internationally.

“We’re well prepared,” Asgeirsson said of the outlook for the coming year. “I’m extremely optimistic about what we’ll achieve. Together, we’re going to lead.”

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.