Future-Proof

Risk is evolving quickly, and CPAs need to stay ahead. In this episode of Future Proof, we talk with Nicole Graham, risk consultant at Aon, about how firms can turn risk management into a strategic advantage.From cyber threats and regulatory changes to the everyday use of generative AI, Nicole shares real-world trends and practical tips to help firms stay protected. Learn how to spot red flags early, strengthen engagement practices, and embed a proactive risk culture across your team.Smart risk management isn't optional, it's essential to building a future-ready firm.Resources:Ashley Graham, Risk Consultant, LinkedInAon Insurance Services, an MACPA Preferred Provider

This week on Future Proof, Paul Dunn, award-winning entrepreneur, global business leader, and founder of B1G1 (Business for Good), joins the conversation to explore the true purpose of the accounting profession.Paul challenges CPAs to shift from focusing on what they do to why they do it. He shares how small, purpose-driven actions can create lasting impact and how accountants can become storytellers who communicate the real value of their work. His message is clear: CPAs are heroes (they just don't always realize it).This uplifting episode is a powerful reminder of how purpose and impact can redefine the profession and inspire change far beyond the bottom line.Resources:B1G1 (Business for Good)Paul Dunn's TEDx TalksThe Soul of the Enterprise PodcastVerasage InstituteMACPA Purpose Resources

This week on Future Proof, we're joined by Lexy Kessler, partner at Aprio, former chair of the Maryland Association of CPAs, and now the third Marylander to chair the AICPA's board of directors. Lexy brings insight, inspiration, and a powerful sense of purpose to this conversation.She shares how a high school bookkeeping class sparked her career, why she was an early adopter of technology, and how a short break from public accounting reaffirmed her calling. Now in a national leadership role, Lexy is focused on deep listening, building trust across the profession, and addressing the talent pipeline with both policy and heart.This episode is a must-listen for anyone seeking renewed purpose and direction in the profession.ResourcesLexy Kessler LinkedIn ProfileLexy Kessler AICPA ProfileNational Pipeline Advisory Group

In this episode, Ron Baker, founder of the VeraSage Institute, challenges traditional views of innovation in accounting. Instead of focusing on technology like AI and automation, Ron advocates for transforming the value we provide to clients, shifting from transactional services to outcomes and personal growth. He highlights Fender's shift from selling guitars to teaching customers how to become musicians as a key example of transformation.Ron also reframes burnout as "moral injury," the emotional toll of not living up to the deeper purpose of the profession, which is helping people. This conversation is full of actionable ideas to help CPAs evolve beyond billable hours and checklists. Tune in for a fresh perspective on the future of accounting and how to make a greater impact.Resources:VeraSage InstituteRon Baker biography and workRon Baker's podcast, The Soul of the Enterprise "The Experience Economy" book by Joe Pine and James GilmorePwC 2023 Consumer Insights Report Deloitte's Human Outcomes Study

Firms are facing major capacity and talent challenges—and many are turning to offshoring, or global resourcing, to keep up. But how do you make it work?In this episode of Futureproof, GRF CPAs and Advisors partner Tricia Katebini shares how her firm built a global team that's fully integrated into their culture and client service model.Whether you're just getting started or refining your approach, this episode is packed with practical insights to help you navigate the future of talent.Resources:Tricia Katebini, CPA, MBA, Partner, Audit and Assurance at GRF CPAs and AdvisorsIndia GCC Landscape Report – The 5 Year Journey

AI adoption is surging, but most companies struggle to scale its value. Tech expert and be radical co-founder Pascal Finette helps leaders navigate the evolving technology landscape—and today, he's breaking down what businesses get wrong about AI and how to get it right.With nearly 30 years in tech, including leadership roles at Google, eBay, and Mozilla, Pascal shares practical strategies for integrating AI, overcoming challenges, and driving real impact.Listen in to learn how to harness AI for growth, efficiency, and innovation.Resources:Pascal Finette websitebe radical Boston Consulting Group (BCG) report, "Where's the Value in AI?"McKinsey & Company report, "AI in the workplace: A report for 2025"

In this episode, I speak with Mark Koziel as he steps into his new role as CEO of the AICPA, succeeding Barry Melancon, who led the organization for nearly 30 years. Mark shares his vision for the profession, bringing a global perspective from his experience at both the AICPA and Allinial Global.We discuss key challenges like talent shortages, technology, and regulatory shifts, as well as the importance of community and keeping the profession strong for future generations. From private equity risks to new opportunities, Mark sees every challenge as a chance for growth.Whether you're a CPA, student, or leadership enthusiast, this conversation is packed with valuable insights. Resources:Mark Koziel LinkedIn ProfileJournal of Accountancy article, "Mark Koziel to become CEO of the Association of International Certified Professional Accountants", by Kim Nilsen

Client Advisory Services (CAS) has become one of the most profitable and in-demand service lines in accounting, with revenues surging 17% in two years. Amy Bridges, Senior Manager of Practice Development at CPA.com, unpacks key findings from the latest CAS Benchmark Survey, revealing how top firms achieve $250,000 in median net client fees per professional and why 90% have moved away from hourly billing. From pricing strategies to scaling advisory services, this conversation offers actionable insights for firms looking to maximize CAS growth.Resources:CPA.com's 2024 CAS Benchmark SurveyAmy Bridges, LinkedIn Profile

Maryland's General Assembly is in session, facing a significant budget deficit. In this episode, State Senator Brian Feldman, CPA, breaks down the tough decisions ahead, including the potential taxation of professional services. He emphasizes why legislative advocacy is crucial for CPAs, who can influence tax policy and business decisions. Senator Feldman also explains how Maryland's legislative process is accessible, offering CPAs a chance to make a real impact. We also discuss how Maryland's economic, energy, and environmental policies will shape the future, making it vital for CPAs to be involved.Resources:Brian J. Feldman, Maryland State SenatorMACPA's annual CPA Day in AnnapolisMACPA editorial, "Fiscal concerns dominate Maryland's 2025 legislative session", by Bill Sheridan

What's next for CPAs after the election? I sit down with Lauren Pfingstag Vahey, AICPA's Director of Congressional and Political Affairs, to explore the impact of a new president and Congress on the profession. We discuss the future of the Tax Cuts and Jobs Act, potential new tax legislation, and the recent IRS funding boost from the Inflation Reduction Act. Lauren also shares insights on the possible restructuring of the PCAOB under SEC oversight and offers advice on how CPAs can stay actively engaged in legislative advocacy. Tune in to this essential conversation to navigate the evolving political and regulatory landscape.Resources Lauren Pfingstag Vahey LinkedIn Profile AICPA Congressional and Political Affairs Team

AI is the new social media—exciting, risky, and in need of guardrails. In this episode, we explore what makes a good AI policy and how to navigate the powerful tools reshaping our world. From confidentiality to data reliability, we cover key considerations for using AI responsibly.Joining the conversation is digital strategist Maddie Grant from Propel. She shares insights on crafting effective AI policies, testing their strength, and understanding where we stand in this fast-moving AI era. Tune in for essential guidance on shaping AI policies that protect and empower your organization.ResourcesMaddie Grant, Culture Designer & Digital Strategist at PropelJourney of Accountancy article, "Generative AI and risks to CPA firms" by Sarah Beckett Ference, CPA

In this episode, we explore how your business model might be evolving, whether you realize it or not. Technology, demographics, and regulation are driving change across industries, and for business and CPA firm leaders, the big question is: how do we stay relevant?I'm joined by Lisa Simpson, VP of Firm Services at the AICPA, to discuss the "Transforming Your Business Model" initiative, launched by the AICPA's Private Companies Practice Section (PCPS). This project helps firms identify outdated aspects of their business model and offers solutions across five key areas: governance, strategy, service offerings, talent, and technology. We take a deeper look at how this transformation can shape the future of your firm.Resources: Lisa Simpson, VP of Firm Services, AICPA LinkedIn ProfileTransforming Your Business Model by AICPA's Private Companies Practice Section (PCPS)

In this episode, we tackle the talent puzzle and discuss steps to secure the future of the accounting profession. I sit down with Lexy Kessler, Vice Chairman of AICPA and Mid-Atlantic Managing Partner at Aprio and member of the National Pipeline Advisory Group (NPAG), to dive into the finalized "Accounting Talent Strategy Report" and its bold solutions to the profession's talent challenges. Lexy shares insights on how the report's key themes have been well-received, and we explore trends like three-year bachelor's programs and shifting education preferences.We also break down the report's six recommendations, from retooling education to evolving business models. Lexy also speaks to the importance of collaboration and grassroots efforts like the National Pipeline Pledge.Tune in to hear our full conversation about this report and it's implications for the future of our profession.ResourcesNPAG's Accounting Talent Strategy Report Lexy Kessler CPA, CGMAProposed “CPA Competency-Based Experience Pathway” from AICPA and NASBA National Pipeline Pledge

In this episode, we discuss the need to change the narrative around what it truly means to be a CPA.I'm joined by Carla McCall, the 2024-25 Chair of the AICPA, to explore how the accounting profession can attract new talent by focusing on purpose and passion rather than just tasks and hours. By highlighting the “why” behind accounting—what makes it exciting, meaningful, and impactful—we can inspire the next generation to see the true value of a career in this field.Carla's views perfectly align with the MACPA's “Purpose of a CPA” campaign, which encourages CPAs to share their personal stories and what drives them. We also discuss her plans for the year, insights on the industry's future, and her leadership approach. Don't miss this insightful conversation with a leader committed to showcasing the true purpose and value of the CPA profession.Resources:Carla McCall, CPA, CGMA, Managing Partner at AAFCPAsJournal of Accountancy article, "New AICPA chair: ‘We need to promote the cool work we do", by Mari SagedalMACPA's Purpose of a CPA: Share Your Why

This week, we're tackling a challenging yet crucial topic: when and how to fire a client. Some clients can end up costing more in time, effort, and frustration than the value they provide. Letting them go can sometimes be the best decision for your business. However, this process is not to be taken lightly—there are numerous pitfalls to avoid and best practices to follow. Thankfully, there are plenty of resources to make it easier.Joining me this week is Robert Albertini, an account manager at Aon, which has been a longtime partner of MACPA. With over 25 years of industry experience, particularly in professional liability, Robert will share his insights and expertise on managing client relationships and knowing when it's time to part ways.Resources:MACPA Preferred ProvidersRobert Albertini LinkedIn ProfileAon partner landing page

In this episode, we honor the remarkable career of Alvin Katz, Co-Founder & Director of KatzAbosch, a firm he helped build from the ground up in 1969 into one of the largest CPA and business consulting organizations in the Mid-Atlantic. As Alvin retires after 55 years at the helm, he shares his journey, the evolution of the profession, and the lasting impact of KatzAbosch on the Maryland community. Join us for an insightful conversation on building a lasting firm, embracing change, and the future of accounting and finance.ResourcesAlvin Katz, Co-Founder & Director of KatzAboschAlvin Katz LinkedIn Profile

This week's episode is about TRUST. We must rely on trust as we navigate change.Our guest is Barry Melancon, who will be retiring as long-time President and CEO of AICPA as of December 31, 2024. Barry has been the "face" of the profession for decades.This transition is another example of great change in our profession. Since Barry has been leading change, and has been teaching our profession to navigate shifts, we are all better prepared even for this particular moment in our profession.Join us as we talk about the state of the profession, what's next for CPAs, and what's next for Barry himself.A true visionary and thought leader, Barry gives us his wisdom on trust, change, and the future.ResourcesPreferred Providers: macpa.orgAICPA& CIMA: aicpa-cima.comBarry Maloncon on LinkedIn: linkedin.com/in/barry-melancon-cpa-cgma/

This week, we're diving back into the world of AI to uncover some practical ways this technology can take over tasks that are consuming too much of your time. At a recent MACPA Town Hall, 64% of accounting professionals admitted they haven't tried generative AI tools. Many might think they're not using AI at all, but the reality is they're likely interacting with it daily through virtual assistants, shopping recommendations, music playlists, facial recognition, and more.To help us embrace AI more actively, we speak with Ashley Francis, a seasoned CPA, Microsoft MVP, featured speaker, and passionate AI advocate. Ashley provides insights and tips on seamlessly incorporating AI tools into your daily workflow. Through her newsletter and series of classes, "Kitchen Table Automations", she simplifies the integration of AI, making it more accessible and user-friendly for accounting professionals. Listen to gain some practical, actionable advice to harness AI in your professional life.ResourcesHarvard Business Review article, "How People Are Really Using GenAI" by Marc Zao-Sanders Mashable article, "I spent a week using AI tools in my daily life. Here's how it went." by Cecily Mauran Ashley Francis, CPA: LinkedIn ProfileThe Francis Group, PLLCKitchen Table Automations Newsletter

A decade ago, there were predictions that certain accounting jobs would be replaced by automation. Now, in the age of AI, we're still here and thriving. Today's conversation focuses on how we can collaborate with technology to enhance our work and deliver greater value to clients. To delve into this topic, I spoke with Andrew Hatfield, Co-Founder and Chief Growth Officer of SafeSend, a long-time partner of MACPA. He and his team have released a paper discussing the role of AI, the importance of strengthening tech stacks in accounting firms, the shift from e-sign to e-file, the benefits of integrations and APIs, and the concept of a "single pane of glass"—a unified management console displaying data from multiple sources. Andrew and I discussed how client expectations have evolved, and how the technologies and predictions in SafeSend's paper can improve relationships between firms and their clients, as well as the CPA's role in this transformation.Resources:SafeSend paper, "Top 7 Predictions for Tax Automation in 2024" by Andrew Hatfield & teamSafeSendAndrew Hatfield LinkedIn ProfileOxford Martin School article, "The Future of Employment: How susceptible are jobs to computerisation?" by Carl Benedikt Frey & Michael OsborneThomson Reuters report, "2024 generative AI in professional services"CPA Practice Advisor article, "Most Tax Pros, Corporate and Public, Believe AI Should Be in Their Toolbox" by Isaac M. O'Bannon

Today we're touching on the AI subject once again - something we'll likely be talking about for some time given the projections about how this technology will turn the accounting profession on it's head. A recent Thomson Reuters report shows many within our industry are already using AI tools and there is growing optimism about AI's role in the industry.While many accounting and finance professionals feel prepared to integrate AI, a significant number of CPAs remain unfamiliar with the technology. These professionals will need knowledgeable leaders to guide them. One such leader is with us today: Kacee Johnson, Vice President of Strategy & Innovation at CPA.com. Kacee will share her 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 technologies.Join us for an insightful conversation to gain valuable guidance on leveraging AI in your accounting practices.ResourcesThomson Reuters report, "2024 generative AI in professional services"CPA Practice Advisor article, "Most Tax Pros, Corporate and Public, Believe AI Should Be in Their Toolbox", by Isaac M. O'BannonDeloitte Center for Controllership pollCPA Practice Advisory article, "C-Suite is Optimistic About GenAI Use Within Finance and Accounting, Deloitte Says", by Jason BramwellKacee Johnson AICPA profileAICPA digital resource, "CPA.com Generative AI Toolkit"

In this episode, we're continuing our focus on the pipeline issue but this time we're looking at it's impact on corporate America specifically. Companies, big and small, are citing a shortage of skilled accounting personnel for weaknesses in financial reporting controls. This deficiency is a significant predictor of potential restatements of financial statements, affecting not only CPAs and firms but also investors.Dr. Rebecca Hann, Assistant Dean of Doctoral Programs at the Robert H. Smith School of Business, discusses her recent study, "The Price of an Accountant Shortage: Evidence from Job Vacancy Duration and Internal Control Weaknesses." We explore the study's key findings, including correlations between the shortage of accounting talent and the frequency and severity of internal control deficiencies, as well as the duration of job vacancies in accounting roles. Additionally, we consider the role of purpose, the "why" behind we do, in addressing this issue.Tune in for this crucial conversation on the profound impact of the accounting profession's challenges. ResourcesWall Street Journal article, "The Accountant Shortage Is Showing Up in Financial Statements" by Mark MaurerAccounting Today article, "The U.S. is short 340,000 accountants—just look at the wave of earnings report mistakes" by Jo Constantz UMD Robert H. Smith School of Business, Dr. Rebecca Hann webpage Dr. Rebecca Hann Scholarly PapersDr. Rebecca Hann LinkedIn Profile

This week, we're diving into a well known, critical issue gripping our profession: the shortage of CPAs. It's a widespread challenge impacting businesses, causing staffing gaps, burnout, and compromised client service. The scarcity of expertise has escalated workloads, hindered recruitment and retention, and even led some firms to decline work due to insufficient manpower. To combat this, many organizations are resorting to measures like increasing compensation and offering more flexible work arrangements. The profession is undergoing a transformation to adapt and survive.The ramifications extend beyond the accounting realm, influencing how businesses operate at large. Solutions are being sought across various fronts, including regulation, education, and cultural shifts. At the forefront of these discussions is our guest, Lexy Kessler, Mid-Atlantic Regional Leader and Partner at Aprio as well as a former chair of MACPA Board of Directors, who now chairs the National Pipeline Advisory Group. This group is spearheading efforts to formulate a unified strategy to address the talent shortage, leveraging unbiased research and stakeholder input. They've launched a national survey to gather insights and ideas for tackling this issue head-on. In our conversation, we delve into the progress of this initiative, its timeline, potential outcomes, and the individual CPA's role in bolstering the pipelineResources:Financial Executive International article, "Navigating the Accounting Talent Shortage: Strategies for Business Growth and Efficiency" by Justin SmithForbes article, "Accountants Are Turning Away Work—Hurting Firms And Small Businesses" by Hitendra PatilCFO Dive article, "Auditors say accountant shortage ramps up work pressure: CAQ" by Jim TysonLexy Kessler, CPA, CGMA, Mid-Atlantic Regional Leader & Partner at AprioLexy Kessler LinkedIn ProfileNational Pipeline Advisory Group: Pipeline Survey

We've spent a good amount of time discussing new technology (A.I. in particular) and what it all means for CPAs and our profession. However, amidst these discussions, we've overlooked the strategies for implementing broader changes, including new technology, ideas, mindsets, and work processes.After browsing numerous articles, I came across a resonating approach: asking our organization, "What do we need? What problems are we trying to solve?" Then, we develop a plan, train others, and launch. This problem-focused strategy prioritizes identifying our challenges and leveraging new technologies to address them.My guest is believes in this same approach: Will Hill, founder and owner of Will Hill Consults, a coaching and consulting firm serving the tax and accounting profession. Will emphasizes that understanding the problems we aim to solve can lead us to realize that the solution may not be what we thought (i.e. A.I.). The journey begins with identifying the problem, not the technology. Listen as we discuss the questions critical for our internal teams and clients.Resources:Will Hill ConsultsCalculated Research & Technology (CR-T) article, "How to Implement New Technology in Your Organization"Big Think article, "7 Essential Strategies for Adopting New Technologies"Information Week article, "4 Tips for C-Suite Leaders to Accelerate Tech Wealth", by Andy Tay

My guest this week is Dr. Britt Andreatta, who has been a guest of this podcast before (check out ep. 163). Dr. Andreatta is a internationally-recognized thought leader and author who creates brain science-based solutions for today's challenges. Her most recent book is called, "Wired to Become: The Brain Science of Finding Your Purpose, Creating Meaningful Work, and Achieving Your Potential". Her work relates directly to the "why" behind accounting - our purpose as CPAs. When it comes to the talent shortage, we believe connecting students and young professionals to that purpose will help grow our profession and secure our future. By re-centering on our core values and making our work engaging and meaningful, we can attract individuals who are eager to make a real difference. Join me in a conversation with Dr. Andreatta, an expert in the research on the significance of discovering one's purpose. We'll explore how our profession stands to gain from a renewed emphasis on the purpose behind our work.ResourcesBritt Andreatta website"Wired to Become: The Brain Science of Finding Your Purpose, Creating Meaningful Work, and Achieving Your Potential" by Britt AndreattaCPA Practice Advisory article, "Where Have All The Accountants Gone?" by Garrett Wagner

We've had some great conversations recently about A.I.; what it means for our profession and how to integrate it into our work. This week, I talk to Jason Staats, who has been on the leading edge of A.I. and has a wealth of knowledge to share with CPAs about this new technology. Jason's main message about A.I. is that as groundbreaking and game-changing as A.I. is, it doesn't necessarily mean our profession will change radically at it's core. A.I. is a tool we can use in service of what our profession is charged to do. CPAs do what we're trained to do - that will not change. What we do need to do is ramp up our curiosity about these new tools and how they will allow us to better serve our customers. Instead of trying to force A.I into every aspect of our work, a better approach comes by asking what problem we are trying to solve and how at all can A.I. can help. Resources:CPA Australian article, "Generative AI in business: how to navigate the ethics" by Susan MuldowneyJason Staats LinkedIn ProfileJason Daily PodcastJason Daily YouTube Channel

In this episode, we welcome another longtime friend of MACPA, leadership expert and author of the new book, "This is NOT a Leadership Book: 20 Rules for Success", Emmanuel Gobillot. Emmanuel has been my go to source for all things leadership for many years. I speak to him about leadership as it relates to recruitment and retention, which is top of mind for everyone these days. Where do we find new CPAs? How can we get students interested in accounting again? It's important for leaders to express why our profession is important and why our work matters - that "why" is what is going to get young people excited about a future career in accounting. The focus of many employees entering the workforce is their role in society, their purpose, and finding institutions that match their outlook. Those in leadership need to personify that "why" and start changing the narrative about this profession. Begin by understanding your organization's higher purpose; it should be aspirational and authentic.Emmanuel spends a lot of time in his latest book speaking to authenticity, why it actually might be overrated UNLESS it's inline with your intent, your purpose, and the needs of your team. Listen in as we dive deep into his 20 rules to success and more. Resources:Emmanuel Gobillot website | LinkedIn | XThis is NOT a Leadership Book, by Emmanuel GobillotForbes article, How To Attract And Retain Top Executive Talent Through Purpose, by Karen Greenbaum

We're once again joined by Pascal Finnette, co-founder and chief heretic of be radical. Be radical is a guiding force for organizations seeking to restructure in anticipation of future challenges, and it inspires individuals to evolve into leaders prepared for the demands of tomorrow's world. I've engaged in numerous discussions with Pascal about shifting mindsets and embracing disruption. In this episode, we delve deeper into the realm of artificial intelligence, seamlessly continuing our exploration from the previous episode featuring Don Tomoff on how CPAs can initiate their journey with A.I.Pascal recently delivered a thought-provoking address at the digital CPA conference, asserting, "Companies and individuals leveraging A.I. won't just outperform those who refrain from its use; they will exponentially surpass them." Similar sentiments have echoed lately, urging us to harness the power of A.I. to our professional advantage. The expectations surrounding the transformative impact of this technology on our work, lives, and the world are immense.While most c-suite executives anticipate cost savings this year through A.I.'s contributions to increased productivity, streamlined operations, improved customer service, and enhanced I.T., it's essential to recognize that A.I. cannot entirely replace human expertise in addressing the intricacies of tax and financial assessment problems. Many of the cutting-edge technologies developed by vendors are still works in progress.Despite ongoing refinement needs, the utilization and potential of A.I. are experiencing rapid growth, making it an undeniable game changer. In my conversation with Pascal, we explore how A.I. has already reshaped our work and lifestyles. We discuss the challenge of regulating A.I., the first steps CPAs should consider when integrating A.I. into their business, and focus on what isn't going to change. Resources:Pascal Finette websitebe radical. websiteBoston Consulting Group article, "From Potential to Profit with GenAI" by Jessica Apotheker, Sylvain Duranton, Vladimir Lukic, Nicolas de Bellefonds, Sesh Iyer, Olivier Bouffault, and Romain de LaubierZDNet article, "Using ChatGPT for Accounting? You May Want to Think Again" by Rajiv Rao

It's great time to talk about A.I. - the 1 year anniversary of ChatGPT just passed which set this whole artificial intelligence ride in motion. While A.I. has been around since the 1950s, it's exponential growth is really marked this past year both with the release of ChatGPT and Google's announcement of their own A.I. model, Gemini. Not long after, lawmakers in the European Union approved the A.I. Act which sets a new global benchmark for countries seeking to harness the benefits of A.I. while trying to protect against it's possible risks such as automating jobs, speaking misinformation, and endangering national security. While I was at the 2023 Digital CPA Conference, I gained some great tips from sources about how A.I. "newbies" can get started in meaningful and productive ways. Here are some simple steps from keynote speaker, Pascal Finette:Learn about it - simple enough but important to fill the gap between what we know and what we should know (listening to this episode is a great start)Start small and build projects quickly - learn firsthand what is possible with this technologyApply your experience to larger projects - use those smaller projects to inform what you can do with larger projects (crawl. walk. run.)Another step-by-step resource to get you started is the "Generative A.I. Toolkit" for CPAs, recently released by CPA.com, which includes 7 steps for building your A.I. strategy: Experiment Focus on the near term Consider client expectations Research what solution providers are buildingDefine acceptable usePut the technology's best feature to workEnsure that humans maintain a key role in the processThese tips are a great foundation for our episode this week as I speak with Don Tomoff, Director at Invenio Advisors, LLC and longtime friend of MACPA. Don shares his wealth of knowledge and experience in the field of A.I. and explains which steps CPAs should take right from the outset.ResourcesWired article, "Google's Gemini Is the Real Start of the Generative AI Boom" by Will KnightGenerative A.I. Toolkit from CPA.comDon Tomoff, LinkedIn Profile

This week, we have a longtime friend on the show, Jack Ciesielski, CFA, CPA, MACPA member and owner of investment research firm R.G. Associates. Jack was recently quoted in a Wall Street Journal article about former inspectors who are calling for updates in the U.S. public-company auditing process. There are claims that while inspections are a useful tool to detect potential deficiencies in public companies, the reports are limited in scope, lacking details, and not released in a timely process. I speak to Jack about the PCAOB's investor advisory group - what it is and what it does, along with some of the biggest issues related to auditing that investors are concerned about. He also shares his thoughts about the issues presented in the WSJ article and what should be done to better help investors. Listen in to this timely conversation! Resources: R.G. Associates, Inc. Jack Ciesielski LinkedIn ProfileWall Street Journal article, "Former Inspectors of Public-Company Audits Say Process Needs Retooling", by Mark MaurerPCAOB SPOTLIGHT, Staff Update and Preview of 2022 Inspection Observations

This week's conversation is all about leadership, or more exactly "reality-based leadership". As we know, there's always drama in the workplace between management and other team members which can lead to a loss of enthusiasm for work and trust. I speak to Alex Dorr, VP of People Evolution about the most comment causes of workplace drama, the role leaders play in alleviating these issues, and what CPA leaders should be doing to get past this drama. Listen as we talk about all the stuff that goes beyond the water cooler. ResourcesReality-Based Leadership WebsiteAlex Dorr LinkedIn ProfileFast Company article, "These are the most common roots of workplace drama" by Patti Perez

This week, we meet a new leader for new times: Okorie Ramsey, the new chair of AICPA. He's a CPA, CGMA, and currently the VP of SOX at Kaiser Foundation Health Plan, Inc. and Hospitals. Okorie plans to continue to build upon the platform of the most recent past chair of AICPA, Anoop Mehta, by helping others grow personally and professionally, driving DE&I initiatives and preserving trust in the profession. In addition, he plans to face our newest challenges, namely the rapid advancement of technology and our continuing challenge of filling our talent pipeline - making sure our profession remains viable. With these challenges in mind, Okorie has a 3-pronged agenda:Innovation to advance the professionInstilling integrity and trust into sustainabilitySupporting the next generation and giving them advanced opportunities to succeedI was fortunate enough to dive into these 3 priorities in depth with Okorie, discussing what the future holds for accounting & finance professionals. ResourcesOkorie Ramsey, CPA, CGMA, PMP, NACD.DC Linkedin ProfileAICPA-CIMA news article, "New AICPA Chair Looks to Foster Innovation and the Next Generation"

Episode 200! Thanks to all the listeners here to celebrate this milestone. In this episode we're talking about the coming tax season (never too early right?). A lot of tax headlines to discuss this episode:IRS announces that this coming filing season, taxpayers may be able to file most documents and returns electronically and by 2025 the IRS will digitize all paper file returns when they are receivedIRS might push for an early end to the employee retention tax credit as the number of "legitimate claims" declinesTreasury Inspector General for Tax Administration says that while the IRS has done a good job of addressing cyberthreats, it needs to do a better job with documentation New tech being built called IVIX, the first AI powered platform to help governments address financial crimes and tax evasionTax prep companies like H&R Block and TaxSlayer have for years been sharing Americans sensitive financial data with tech giants like Meta and Google in a potential of violation of federal lawI speak with Steven Lyon, Senior Manager, Product Specialists with SafeSend to discuss all these updates and how to meet challenges as practitioners. ResourcesSteven Lyon LinkedIn ProfileAP News article, "IRS aims to go paperless by 2025 as part of its campaign to conquer mountains of paperwork", by Fatima Hussein Accounting Today article, "IRS good at addressing cyberthreats, but not documenting them" by Chris GaetanoIVIX websiteCNN article, "Tax prep companies shared private taxpayer data with Google and Meta for years, congressional probe finds", by Brian Fung

Talking about Client Advisory Services, widely known as "CAS", this week; specifically spend management. Spend management goes beyond expense management in that all company funds are brought together in one centralized location so finance leaders have full visibility to set, track, and control spend before it occurs. These spend management capabilities provide a better understanding about spending patterns, leading to more valuable client interactions and growth for firms. To find our more about spend management trends and how firms can get started with these services, I speak to Jyson Brannon, VP of Sales & Partner Services at CPA.com and Dan Luthi, Partner at Ignite Spark Accounting. ResourcesAccounting Today article by Kalil Merhib, "Voices Spend management: An approachable CAS opportunity"CPA.com Expense & Spend Management Survey ReportJyson Brannon, LinkedIn ProfileDan Luthi, LinkedIn Profile

Today's show we talk about remote work, hybrid work, talent shortage, and everything in between. Since COVID, many futurists felt remote work was here to stay as "the new normal" and many employees felt a certain power in being able to request working from home. However, there were some large organizations that began to require employees come back to the office full time even though studies showed employees not only preferred remote work but were just as productive working from home. Now, we're seeing that there can be a balance between the extreme of employers demanding working in the office and employees demanding they work from home full time. Hybrid work arrangements are now offered by the majority of companies which offers a sort of "truce" between employers and employees. My guests this week are seeing this same harmony in hybrid work; Frank Tirelli and Alex Kirillov are executives from Alliant Group who have noticed better collaboration, stronger culture, and clearer communication when companies strike the balance between coming into the office and working from home. Here's our conversation about how to make room for both.Resources:Business Insider article, "Here's a list of major companies requiring employees to return to the office" by Shana Lebowitz, Marguerite Ward, Emily Canal, Rebecca Knight, and Alexandra York Fortune article, "Bosses and workers are finally reaching a ‘truce' on remote work" by Alicia Adamczyk Flex Report by Scoop, Companies by Office RequirementAlliant Group Alliant Group Senior Director, Alex Kirillov, LinkedIn ProfileAlliant Group Chairman of Professional Services, Frank Tirelli

In this episode, I get a chance to talk with Christine Aspell, the newly appointed chair of MACPA's Board of Directors. MACPA has a long history of pulling in leaders with some of the best diversity of thought in their profession. We lean on these leaders not only to help MACPA serve members but also help our profession flourish as a whole. Christine is Managing Partner and Audit Partner at KPMG's Baltimore office, with 25+ years of experience providing assurance services to clients. She is passionate about the future of this profession, particularly when it comes to diversity & inclusion, advancing women in the profession, and helping the talent pipeline leading to profession. The pipeline is a huge concern as of late and multiple solutions have been proposed centering around education and regulatory requirements. Christine is taking a different tact; she wants to reconnect CPAs with a purpose behind their work and to share that purpose with students and young professionals who are hungry for work with meaning. "Our profession continues to change rapidly as technological advancements and regulatory changes and demographic trends reshape what we do and how we do it, but even amid that change, one thing remains constant: our purpose. The what, how, and even who of our great profession will adapt and change, but what won't change is our why." says Christine. Christine is hoping to collect and share stories about how CPAs help their clients who in turn help their communities; how CPAs help people lead better lives. These are the stories that will inspire others to become a part of this profession. Listen to learn more about this initiative and to hear Christine's own inspirational story. ResourcesChristine Aspell, MACPA Chair of Board of Directors, AnnouncementChristine Aspell LinkedIn Profile

This week I speak with my friend, Joey Havens, Partner for Strategic Growth and previously Executive Partner at HORNE LLP. Joey runs an executive blog, Be Better, filled with advice about being a better leader, better person, be future-ready, and how to flourish in a changing world. Recently, he became a best selling author with his book, "Leading with Significance: How to Create a Magnetic, People-First Culture". People-first is the right tactic to take these days given issues with burnout and retention. It's also been noted that customer satisfaction is intrinsically tired to employee satisfaction; you'll see more success in your business if you consider the professional fulfillment of your team. Keep in mind, it's not just about caring for your employees, it's about helping them forge a meaningful, purposeful career path. By "them" we're being inclusive of gender, races, identities, and backgrounds. I speak with Joey about his book and what it really means to "lead with significance"; what this adds to conversation about putting people first and how so-called soft concepts like love, caring, service can actually be some of the most powerful leadership strategies around. ResourcesJoey Havens Website"Leading with Significance" by Joey Havens, available on AmazonJoey Havens LinkedIn

We're talking about advisory today, something on everyone's mind; how do we incorporate more value added advisory services? What types of advisory services should we offer? What technology do we need? How do we price these services? How do we staff them? The profession has been laser focused on CAS for awhile and still, there are so many questions to answer. When it comes to CAS, top-performing firms showed a median growth rate of 16% just last year and are optimistic about continued growth. These top firms implicate key strategies for success:Dedicated CAS staffUsing technologies to drive efficiencies Standardize processes Raise fees to reflect the value providedExplore creative staffing and capacity building measuresEducate clients and staff on CASMy guest this week, Jasen Stine, Tax & Accounting Education Leader at Intuit, speaks with me about what tax advisory really looks like; what types of services that are most in demand, what type of clients we should look for, what pricing looks like and possible first steps for those who are looking to explore this area. ResourcesJasen Stine LinkedIn ProfileCPA.com CAS Benchmark surveyIntuit Podcast: Account Trends

This week we're talking about the pipeline: the talent crisis that's on everyone's radar in our profession. The most recent AICPA trends report found that accountants are leaving their jobs in unprecedented numbers and fewer students are opting to go into accounting. Now that we've recognized this problem, a number of solutions have been presented such as adjusting certain requirements and regulations for CPA candidates. One major point we need to address is making sure the accounting career path is accessible to those of all backgrounds, allowing our profession to be more diverse and inclusive. Center for Audit Quality (CAQ) has launched a campaign, Accounting+, designed to strengthen the accounting pipeline and reach Black & Latinx students at the high school level. In this episode, I speak with Liz Barentzen, VP of Operations & Talent Initiatives at CAQ, where she oversees strategies to attract and retain talent. Liz breaks down what Accounting+ is, what the response has been, and what roles CPAs can play in all of this. ResourcesLiz Barentzen LinkedIn ProfileBusiness Insider article by Erica Sweeney,"Why There's a Shortage of Accountants and We Should Be Worried"CAQ Accounting+ website

I want to talk about engagement this week - according to a 2023 Gallup report, fewer than 1/3 of employees are engaged in their work. Study after study shows that employee engagement is directly linked to business performance. The secret sauce for engagement is part strength and part passion; things that we enjoy doing not just what we're good at. In this episode, I speak to Marcus Buckingham about identifying how we truly enjoy spending our time, aka "red threads", that you should weave into your daily activities in order to build your engagement. ResourcesMarcus Buckingham websiteLove and Work: How to Find What You Love, Love What You Do, and Do It for the Rest of Your Life

In this episode I speak with Christina Ho, a board member of the PCAOB, about the two most significant audit quality challenges we face today, in her opinion: technology and talent. "Talent is the cornerstone to audit quality. Without well trained talent, there is no audit quality." - Christina HoResources:Christina Ho LinkedIn ProfilePublic Company Accounting Oversight Board (PCAOB) - Christina Ho Board Member ProfileBloomberg article, "The Accountant Shortage Threatens Capitalism's Future" by Adrian Wooldridge

A good conversation with a good friend; this week I speak with Tom Hood, CPA, CGMA, CITP, founding CEO of BLI, Executive Vice President of Business Engagement & Growth for AICPA-CIMA.We talked about the trends that are impacting finance professionals, the opportunities that exist in this post pandemic world, and ideas emerging from the Future of Finance Leadership Advisory Group - a group of senior finance executives who's initial meetings resulted in a crowdsourced vision of what the future of finance looks like. Resources:Journal of Accountancy article, "The changing role of the CFO", by Anita DennisBusiness Learning Institute powered by AICPA-CIMATom Hood LinkedIn Profile

"We're really seeing this evolution of CAS that's happening here, 12-15 years after we started talking about this as a separate service line that was gaining traction" - talking about what's new on the CAS front with Amy Bridges, Professional Development Manager at CPA.com, and Beth Allen, Partner and Head of Client Accounting Services at GreerWalker LLP. Client Accounting Services (CAS) is an area of the profession that is quickly growing and likely to continue to grow in the foreseeable future. Listen to our discussion about how this could effect you and other firms.Resources:2022 Benchmark surveyAmy Bridges Profile | CPA.comBeth Allen Profile | GreerWalker LLP

Today we discuss what the younger generation is looking for in their work and career: a sense of purpose. I speak with Ingrid Edstrom and Mathew Heggem, founders of the Alchemy of Accounting Network (AAN), about how we should change - given the social and environmental issues that confront us today - how can our profession have the greatest, possible positive impact on the world around us. Join the conversation and help us find the answers. “Let's see what learning & growth can come out from having a diversity of ideas in the room.” - Ingrd EdstromResources:"New Movement Advocates for Major Shift in Accounting Profession" by By Alina Nikishina.Accounting Alchemy Network (AAN) Mathew Heggem LinkedIn profileIngred Edstrom LinkedIn profile

This week I revisit a conversation I had last year with Alex Baulf, Senior Director, Global Indirect Tax at Avalara, to discuss the E-Invoice Exchange Market Pilot - who's involved, what comes next, and what CPAs need to know. Tax authorities want more now, they want to look not at a sample of data, but they want to look at every single transaction and they don't want to wait until 6 months, a year, 2 years after the fact…it's too late then.” - Alex BaulfResources:Alex Baulf LinkedIn ProfileAvalara Website

“You work all your life to build up a practice, you want to make sure you're addressing exposure needs" - Stan Sterna

“We need the different thoughts, the different mindsets the different perspectives - we need you" - Jessica McClain, CPA/CITP, CISA, PMP, CGFM

"...Really came to know and understand and appreciate just how uniquely situated the Maryland Comptroller's office is to make a difference on economic matters, to build financially resilient communities, to make Maryland a great place to do business..." - Brooke Lierman, Comptroller of MarylandResources:https://brookelierman.com/

In this episode we're talking about ethics in Artificial Intelligence (AI). Rumblings about the future of AI have been surfacing as well as questions about whether human biases are affecting the decisions AIs are making. Those questions are finding their way into our profession. A recent Accounting Today article reports a growing number of accounting service solutions are using AI for a wide range of applications. The accounting profession has spent $1.5 billion on this type of software in 2021 and is projected to spend $53 billion by 2030, according to a report from Acumen Research & Consulting. The Accounting Today article notes that despite this rapid growth, "too little attention has been paid to the ethical considerations that come with it". Sage's CTO, Erin Harris says in a quote, "The current issues are less to do with the accidental creation of a robot overlord and more about the insertion of human biases into the code". The main issue is not the technology in it of itself, it is our human biases impacting the way the technology works. Biometric Update, recently published an article listing the 6 key considerations for ethical AI in financial services:Fairness & biasTrust & transparencyPrivacyAccountabilitySecuritySocial benefitsThe author, Matt Peake, writes, "If just one of these fails, it can have series consequences for individuals and businesses". However, the upside is that there are groups developing AI committed to the betterment of our world. I speak with today's guest, Enrico Palmerino, Founder & CEO of Botkeeper, about the role of ethics in AI, the types of biases in AI, how we can protect ourselves and our clients from these biases, and what the future marriage of AI and human intelligence looks like. ResourcesAccounting Today article, "AI ethics a growing concern", by Chris GaetanoAcumen Research & Consulting report, Artificial Intelligence in Accounting Market Analysis - Global Industry Size, Share, Trends and Forecast 2022 - 2030Biometric Update article, "Six key considerations for ethical AI in financial services", by Matt PeakeBlueprint for an AI Bill of Rights, from the White House "AI for Good" initiative, from the UNBotkeeper, automated bookkeeping solutionEnrico Palmerino, Founder & CEO, Botkeeper, Linkedin profile

This episode, we're talking about saving for retirement, specifically how we can help our employees save more money for retirement. The general story we keep hearing is, as Americans, we aren't saving enough. The economy is playing a role, with 54% of Americans either reducing the amount they are saving or stopping all savings due to inflation, based on a survey by Allianz. The survey also showed the following:43% respondents report having to dip into retirement savings to meet rising costs75% say they are worried the cost of living will impact their retirement plans25% of U.S. workers have no retirement savings at all36% believe their retirement plans are on trackEven more statistics show those who are close to retirement age do not have enough to support themselves for an extended period of time. This is an issue that impacts us all. Local and state governments are likely to shoulder a share of the financial burden when it comes to those who don't have retirement savings (which means we'll all have to chip in for support). But in Maryland, and handful of other states, there is help on the way. A new program, MarylandSaves, was launched on September 15th 2022, making it easier for employers to provide workers with access to a retirement plan. MarylandSaves is a byproduct of a law that was passed in 2016 by the General Assembly, mandating that employers in Maryland who pay their employees with an automated payroll system or service must offer their employees access to a retirement plan. Maryland become just the 5th state to enact what Glenn Simmons, my guest today, calls "a state sponsored auto IRA program". Employers who participate in MarylandSaves, or offer another qualified program, will receive an annual waiver for their yearly $300 State Department of Assessments & Taxation Report filing fee. To qualify for the 2023 waiver, employers must enroll by December 1st 2022. However, you can still earn that waiver beyond 2023 just by enrolling in the program. The waiver applies every year after you enroll. In this episode, I speak with Glenn Simmons, Executive Director of the Maryland Small Business Retirement Savings Program - the driving force behind MarylandSaves. Together we dive deeper into how programs like this work, how employers like you can get started, what it means for your employees, and what a difference this can make in the lives of future retirees. ResourcesAllianz Press Release; Inflation Causing Majority of Americans to Stop or Reduce Retirement SavingsPwC, Retirement in America ReportMarylandsaves.comGlenn Simmons, Executive Director/CEO at Maryland Small Business Retirement Savings Program, LinkedIn profile

Culture - one of those slightly misunderstood topics. A lot of ideas about culture are different from person to person. My goal with speaking to Stacey Rodgers, Executive Director of People & Culture at Cohen & Co., is to get a little closer to a mutual understanding of how to define "culture" in an organization. In my personal view, culture within an organization is based on a shared set of values and professional identity; who we are, why we exist, and our purpose. Once you're clear on all those definitions, it becomes a part of your vision and mission. You also start hiring people based on that cultural fit, which drives how an organization functions and succeeds. The COVID-19 pandemic has had a huge impact on workplace culture. An article from California Management Review, How Have Organizational Cultures Shifted During the COVID-19 Pandemic, reports the pandemic has led organizations to emphasize certain cultural elements and downplay others. There is an increased emphasis on flexibility, transparency, supportiveness, decisiveness and confronting conflict. In exchange, there is a decreased emphasis on customer orientation, individualism, detail orientation, results orientation, and collaboration. In general, culture has shifted away from high performance orientation to one that prizes empathy, understanding and mutual support. These changes are interpreted positively or negatively based on employees with different backgrounds - the shift has been jarring for many. One main solution to cultural related issues is improved communication between leaders and employees. A PwC article, How the pandemic can change workplace culture for the better, by James Thomas, points out that while remote working may seem "cheap" to organizations, it comes with hidden costs to your culture. Lockdown has resulted in social isolation, which can be addressed with collaborative virtual solutions and treating mental health as a necessity. There's so much to touch on when it comes to culture, which is why I'm glad to speak to Stacey Rodgers and gain additional insight into how culture can provide opportunities and how to address cultural issues as they arise. ResourcesCalifornia Management Review article: How Have Organizational Cultures Shifted During the COVID-19 Pandemic by N. Derek Brown, Yixi Chen, Hope Harrington, Paul Vicinanza, Jennifer A. Chatman, Amir Goldberg, and Sameer SrivastavaPwC article: How the pandemic can change workplace culture for the better by James Thomas Cohen & Co. Profile: Stacey Rodgers, CPA, MAccStacey Rogers, Executive Director of People & Culture, LinkedIn

Today, we dive into ESG: Environmental, Social & Governance. Investors are increasingly applying these non-financial factors as they investigate which public companies they will invest in and regulators are increasingly requiring that companies include these types of factors in their financial statements. There are plenty opportunities for accounting and finance professionals in this new area. In this episode, I speak with Alyssa Rade, Chief Sustainability Officer at Sustain.Life, which offers solutions that are uniquely designed to make taking climate action easier and more affordable for companies of all kinds. She helped me understand how wide ranging the implications of ESG really are. We talk about what ESG is and what it isn't; what all this means for CPAs in public practice, business & industry, those in public companies and private, for investors and auditors - there's so much to consider and discuss. Listen in! Resources: https://www.journalofaccountancy.com/issues/2022/oct/how-firms-are-seizing-esg-opportunity.html (Journal of Accountancy article: How firms are seizing the ESG opportunity, by Andrew Kenney) https://www.sustain.life/ (Sustain.Life website) https://www.linkedin.com/in/alyssa-rade-67980516/ (Alyssa Rade LinkedIn Profile)