Journal of Accountancy Podcast

It's been a dizzying few months since Melanie Lauridsen, the AICPA's vice president–Tax Policy & Advocacy, last appeared on the Journal of Accountancy podcast. In fact, just the past week has been chock full of tax-related developments, mainly in Washington. Reflecting the news, this episode is publishing the same day it was recorded. In the Wednesday morning conversation, Lauridsen details the AICPA perspective on several aspects of the budget bill that could be voted on soon by the full House of Representatives. She goes into detail about the passthrough entity tax/state and local tax deduction, also known as the PTET SALT deduction, and why the AICPA is urging that deduction be preserved. What you'll learn from this episode: ·         The status of the House budget bill. ·         An explanation of the PTET SALT deduction — what it stands for, why it's complex, and why it's the AICPA's “No. 1 priority.” ·         Some of the “wins” in Lauridsen's mind related to Sec. 529 accounts and the Form 1099-K reporting threshold. ·         The top concern from a survey of members just after tax filing season. ·         What Lauridsen means by “fractures.”

This week's episode is a mix of CPA-centric news and a Q&A with a leader in the profession. First is a summary of the House Ways and Means Committee's tax bill, the AICPA's reaction to some of its provisions, and an update on paths to CPA licensure. Danielle Supkis Cheek, CPA, is the guest on the main segment, discussing how accountants can avoid head-spinning dizziness when it comes to artificial intelligence (AI) — and why the profession is well suited for technology adoption. Supkis Cheek, senior vice president–AI, Analytics and Assurance at Caseware, also discusses how organizations can use AI to scale operations. Finally, citing a set of criteria from Digital CPA speaker — and JofA podcast guest — Alex Dorr, Supkis Cheek rates the amount of drama she brings to the workplace. What you'll learn from this episode: ·         A summary of top JofA news items from earlier this week. ·         Why conference speakers on AI topics have a hard time providing timely slides for sessions. ·         The importance of the evergreen nature of accounting standards. ·         Supkis Cheek's explanation of professional skepticism's role in harnessing AI. ·         Detailing the public expectation gap as it relates to audits and technology. ·         Why Supkis Cheek considers the AI era a curation age instead of a technology age.

Sarah Ference, CPA, an author of the JofA's Professional Liability Spotlight column, returns to the JofA podcast to discuss recent column topics and the advice CPAs can gain from them. In the previous episode focused on Professional Liability Spotlight content, Ference detailed the January topic of risk management mantras. The articles discussed in this episode include: n  February: “Retired Partners: A Liability Risk?” n  March: “The Risk of Providing Unintentional Financial Advice” n  April: “Should I Disclose My Use of Gen AI to Clients?” In addition, Ference described the May column topic and several upcoming topics. What you'll learn from this episode: ·       The importance of considering the client's perspective related to disclosure of generative AI use. ·       An explanation of the concept of apparent authority. ·       Why guardrails are needed for retired partners who might still maintain an office at a firm. ·       How casual conversations with clients can expose a firm to risk. ·       A theme for upcoming Professional Liability Spotlight columns.

The latest Journal of Accountancy podcast episode is a wide-ranging conversation with two likely familiar names to listeners. April Walker, CPA, CGMA, AICPA & CIMA lead manager–Tax Practice & Ethics, and author John Garrett joined the show to discuss employee engagement in the hybrid and remote era, the importance of sharing and asking about hobbies, and why they are less likely these days to carry business cards to events such as conferences. Walker is the host of the Tax Section Odyssey podcast and the Reimaging Your Tax Practice webcast series. She has also been a host of tax-focused episodes on the JofA podcast. Garrett is a speaker, corporate consultant, and former Big Four accountant-turned-stand-up comedian. In previous episodes of the podcast, he has shared presentation tips and explained why our passions are essential to work success. What you'll learn from this episode: ·         Reviewing the concept of “bringing your whole self to work.” ·         Why, in Garrett's mind, employers should “value the worker as much as you value the work.” ·         Should you start a virtual team meeting with an icebreaker question? Why Walker says “yes.” ·         The speakers' opinions on business cards. ·         Words that could create “stronger and deeper connections” on a business card. ·         Why we should “shine a light” on outside interests.

Author, speaker, and presidential pickup game basketball player Ben Nemtin makes a return visit to the Journal of Accountancy podcast. Four years after his first appearance, he's focused these days on the impact of purpose on longevity, well-being, and employee engagement. As the keynote speaker June 9 at AICPA & CIMA ENGAGE 25, Nemtin will share about the road trip with friends he took nearly 20 years ago that spawned a book, a reality show, and the accomplishment of so many lofty goals. In this episode, Nemtin updates listeners on the status of his bucket list and explains why taking just 15 minutes to focus on one goal can be beneficial. Note: Early-bird registration for ENGAGE ends Thursday. What you'll learn from this episode: ·         A refresher on the concept of The Buried Life. ·         Nemtin's focus on “energy-driven living.” ·         Addressing the notion that it's selfish to focus on personal well-being. ·         The value of connecting to purpose – for individuals and organizations. ·         Three ways to maintain accountability when it comes to setting and reaching goals.

Very few people will be imprisoned the way Sam Goodwin was — for nine weeks in a harrowing situation six years ago. Goodwin says we can all be “held hostage” by any number of things and that our response to life's challenges is what sets us apart.   Goodwin, an author and tech startup founder, will deliver the keynote address June 16 at the AICPA & CIMA Not-for-Profit Industry Conference in National Harbor, Md.   Learn more about Goodwin's message and story in the latest episode of the Journal of Accountancy podcast.   What you'll learn from this episode: ·         Goodwin's “Winning Through Uncertainty” theme for the June keynote address. ·         The worldwide travel quest that landed him in a hostage situation in Syria. ·         Goodwin's explanation about feeling a sense of “survivor's responsibility.” ·         His work overseas in the technology and not-for-profit sectors. The reason Goodwin says “uncertainty is a horrible thing to waste.”

As the demands on modern CPAs change, so also does the CPA Exam. Updates in the design and focus of the CPA Exam have been in effect for about a year now, and two AICPA experts joined the Journal of Accountancy podcast to discuss the changes, address misconceptions, and offer reminders on best practices. Any preparation for the CPA Exam should include a look at the CPA Exam Blueprints, according to Joe Maslott, CPA, director–Examinations. Mike Decker, vice president–CPA Exam and Pipeline offers insights into the changes and reminds candidates that the CPA Exam should be respected but not feared. What you'll learn from this episode: ·         Maslott's review of why the CPA Exam was redesigned for the start of 2024. ·         Decker's comments on misconceptions about the new exam. ·         The “relief valves” now offered for CPA candidates in exam timeframes. ·         Best practices and strategies for approaching the new sections of the exam. ·         Why pass rates are expected to rise.

Half a life ago, Michael Brody-Waite didn't think he was going to make it to his 25th birthday. Today, he's an author, entrepreneur, and leadership coach preparing to deliver the keynote address at the AICPA & CIMA Employee Benefit Plans Conference in May. In the address, he will share details of a leadership framework — using his experience as an addict in recovery as a backdrop. Three principles of the framework relate to authenticity, the ability to let go, and the importance of uncomfortable work. What you'll learn from this episode: Why he says that most leaders are “addicted to doing.” The three principles of “addictive leadership.” The reasons, according to Brody-Waite, that those principles relate well to the accounting profession. Some of the excuses he made and others he blamed for his substance abuse. Why the advice “don't be scared” should be avoided. The delegation lessons that can be taken from the principle of “surrendering the outcome.” Why uncomfortable work is different than hard work or difficult work. Brody-Waite's message to conference attendees.

No matter who's in charge, regulation, legislation, and education remain front and center when it comes to advocacy efforts in Washington, according to Mark Peterson, AICPA & CIMA executive vice president–Advocacy. Also important is understanding how to navigate a new administration's priorities.  In this episode of the Journal of Accountancy podcast, Peterson details some of the focus areas of the White House and Congress – tax legislation, an emphasis on government efficiency, and a change in regulatory approach. What you'll learn from this episode: ·         Peterson's overview of AICPA advocacy in Washington. ·         Why “navigate” is an important word for Peterson. ·         What has been normal and not normal in the change of presidential administrations. ·         Peterson's assessment of the potential path for tax legislation. ·         The “very different environment” related to regulation of public companies. ·         Advice for members in dealing with D.C. uncertainty.

Alex Dorr speaks to audiences and organizations all over about ditching the drama and getting more productivity and engagement from employees and more overall value for companies. His session at Digital CPA in Denver in December 2024 focused on many of those same principles and was tailored to modern accounting firms. On the Journal of Accountancy podcast, Dorr, vice president at Reality-Based Leadership, explained more about how readiness for change can lead to a better work reality for employees and managers alike. What you'll learn from this episode: ·         Dorr's reflection on whether he was a “high-drama” college basketball player. ·         Why the examination of an employee's or team's value should include an assessment of “readiness for what's next.” ·         The “juicy” question Dorr answered about speaking to accounting groups. ·         The importance of validating someone's experience in the workplace before addressing ways to make it better.

In this Journal of Accountancy-branded podcast, a senior wealth strategist and managing partner share advice on how to initiate conversations with business clients about transition and succession planning.

David Zweighaft, CPA/CFF, is a co-author of this quarter's Eye on Fraud report, focused on financial tracing. Zweighaft joined the Journal of Accountancy podcast to discuss details in the report and share stories from his more than 30 years of experience in the field of forensic accounting. The discussion delves into particulars of the quarterly report and mentions an infamous municipal fraud case, which was one topic mentioned in a 2023 JofA podcast episode. Resources n  FVS Section home page n  CFF credential information page n  Eye on Fraud report for the first quarter of 2025 n  Understanding the Forensic Technology Landscape What you'll learn from this episode: ·         Zweighaft's definition of financial tracing. ·         Why human skills such as interviewing can be differentiators even as technology speeds up some tasks. ·         Some of the core accounting and auditing skills that apply to financial tracing. ·         The difference between direct and indirect financial tracing. ·         Details of the United States v. Melissa King case, a focus of the Eye on Fraud article Zweighaft co-wrote. ·         The value of hearing other professionals' stories in financial tracing.

On March 5, the AICPA published a comprehensive set of criteria for reporting on the digital assets known as stablecoins. The criteria are designed to address “the need for consistency, transparency, and trust in the stablecoin environment.” Jay Schulman, CPA, is a principal at RSM, and he's focused, in his job and his role on AICPA committees, on digital assets. In this episode of the Journal of Accountancy podcast, Schulman explains areas of focus for the AICPA's Digital Assets Working Group and the group's attestation subcommittee. That work includes the stablecoin criteria. Resources: n  Accounting for and Auditing of Digital Assets (practice aid) n  Blockchain Universal Glossary n  Stablecoin Reporting and Assurance landing page What you'll learn from this episode: ·         Schulman's explanation of the difference between bitcoin and stablecoins. ·         The reasons that an AICPA committee and subcommittee on attestation are focused on stablecoins. ·         Examples that remind Schulman of how different generations view money. ·         Why Schulman refers to the criteria as “transparency-oriented.” ·         The resources Schulman recommends related to stablecoins and the priorities of the Digital Assets Working Group.

For several reasons, including persistent inflation and concern about the effects of tariffs, CPA decision-makers in business and industry are less optimistic this quarter about the U.S. and global economy and their own businesses. That's according to the Economic Outlook Survey released on Thursday. On Friday, Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development, joined the Journal of Accountancy podcast to analyze the survey's latest results. In the fourth quarter of 2024, Witt said, the likelihood of less regulation was one reason for an increase in sentiment. But much of that November enthusiasm has been tempered. What you'll learn from this episode: ·         The top challenge for CPA decision-makers' businesses (it's not a surprise). ·         The difference in expansion plans based on company size. ·         The percentage of respondents who expect tariffs to have a negative effect on their organizations. ·         What finance executives project related to hiring in the coming 12 months.

The AICPA & CIMA CFO Conference begins April 23 in La Quinta, Calif. The co-chairs of the conference planning committee joined the Journal of Accountancy podcast to discuss top-of-mind issues for finance leaders and to preview the agenda for the in-person event.   Ted Delgado, CPA, CGMA, and Summer Redmon, CPA, finance executives themselves, shared what they learn from attending the conference each year and explained the ways that the pace of change has affected the CFO role.   Also, Lisa Simpson, CPA, CGMA, AICPA & CIMA's vice president–Firm Services, joined the show to discuss International Women's Day, which this year is on Saturday. Resources: n  CFO Conference registration information and agenda. n  Podcast conversations in September and January with not-for-profit CFO Janice Stucke, CPA. What you'll learn from this episode: ·         The value of self-awareness and servant leadership for CFOs. ·         Redmon's explanation of a former boss referring to herself as “CFO-plus.” ·         Delgado's summary of a session on navigating business slowdowns. ·         Highlights of other topics and panel discussions at the conference. ·         The importance of International Women's Day to one AICPA & CIMA leader.

Nina Chmura, CPA, a partner at the firm Withum, was a co-presenter with two other CPAs at Digital CPA in Denver on the topic of firms growing their client advisory services (CAS) offerings. The title of the session: “How to Be the CEO of Your CAS Practice.” Speaking from the conference site, Chmura detailed some of the keys to CAS success in this Journal of Accountancy podcast episode. Chmura also reflected on her career journey. She is a 2012 graduate of the AICPA Leadership Academy, calling the experience “life-changing.” Chmura also found value in being part of a panel of guest editors for the May 2017 issue of the JofA. What you'll learn from this episode: ·       The focus on metrics — identification and evaluation of effectiveness. ·       How the CAS advice and themes apply to her role at Withum. ·       The link between satisfied advisory clients and happy employees. ·       Identifying which KPIs are truly key to success. ·       Chmura's surprise about being asked to be a JofA guest editor in 2017. ·       More on her advice about identifying personal KPIs.

Jennifer Wilson, the CEO of ConvergenceCoaching LLC, co-presented a session at Digital CPA in Denver that addressed talent and leadership differences in remote and hybrid work environments. In this podcast episode, Wilson, who also served as the independent facilitator for the National Pipeline Advisory Group's (NPAG's) work in addressing the accounting talent shortage, discussed some of the differing points of view that managers and employees have about remote work. She also emphasized the importance of telling a better story about accounting — one of NPAG's recommended strategies for rebuilding the pipeline. Also in this episode is a mention of two recent news articles that affect CPAs. First is the news of beneficial ownership information (BOI) reporting requirements being in effect again after a court order. Second, the JofA reported on cuts in the IRS workforce. What you'll learn from this episode: ·         The “consternation and angst” in discussions about in-office vs. hybrid or remote work. ·         Why Wilson said that managers shouldn't use the word “back” when talking about where work gets done. ·         Who bears responsibility for an individual employee's learning and skill development. ·         The key to unifying teams in an era of dispersed workforces. ·         Wilson's hope for the profession in the coming year. ·         A recap of recent JofA news articles about BOI reporting and the IRS.

Mark Koziel, CPA, CGMA, was less than a week into his tenure as AICPA & CIMA CEO when he joined the Journal of Accountancy podcast for a two-part conversation. In part one, published Thursday, Koziel discussed wanting to hear from members about their challenges and success stories. In part two, he talks about how accountants can work with artificial intelligence tools, why he initially was interested in pursuing work with the FBI, and the value he sees in a hybrid work environment for some firms.  Koziel has invited members to send email to AskMark@aicpa-cima.com and "tell me how the Association can help you, your career, and the profession." What you'll learn from this episode: ·         The career-related questions Koziel used to ask fellow CPA firm partners. ·         One aspect of Koziel's preparation to become an accountant that he would have changed. ·         The key things he learned as an employee of the grocery store Wegmans. ·         What he says to students considering a career in accounting. ·         More on how client advisory services have “erupted” over the years.

Mark Koziel, CPA, CGMA, was officially just a few days into his role as CEO of AICPA & CIMA when he took time to join the Journal of Accountancy podcast for a conversation that will be shared in two parts. Part one is below, and part two will be published in the coming days. Koziel — named in October to succeed the now retired Barry Melancon, CPA, CGMA — discussed the importance of hearing about the successes and challenges facing members, how he hopes to create communities, and more in this interview. Koziel also invited members to send email to AskMark@aicpa-cima.com and “tell me how the Association can help you, your career, and the profession.” Related links: n  The news of Koziel's hiring, succeeding Barry Melancon as CEO. n  Melancon's words about Koziel in a December podcast conversation. n  Koziel's previous JofA podcast appearance, as part of a 2022 episode when he was the CEO of Allinial Global. What you'll learn from this episode: ·         Three facts for members to know about Koziel, in his words. ·         What he sees as the profession's strengths and opportunities. ·         Why he calls accounting pipeline concerns “not a U.S.-only problem.” ·         Koziel's “listening tour” with members and his request for feedback. ·         More about his ideas for creating communities within the global membership of AICPA & CIMA. ·         Koziel's thoughts on the evolution of the profession. ·         The important distinction between outsourcing and offshoring. ·         A look ahead to part two of the conversation.

Chris Dyer, whose recent book details seven pillars of corporate culture, joined the Journal of Accountancy podcast from the Future of Finance Summit in San Diego to explain some of the ways companies can get culture right — and the ways they get it wrong. For instance, Dyer said that a common approach of individuals and organizations, after a strengths and weaknesses assessment, is to think about the areas where their performance is mediocre.  “They want to … start with the ones they're OK with,” Dyer said. “I say go after the one where you're terrible, and you fix that, and your people all of a sudden get excited.” Also, get insight, in the form of a quick-hitting sound clip to close the episode, on how high-level thinking serves a CPA who played in the NFL. What you'll learn from this episode: ·         Why Dyer got into the exploration of team and corporate culture. ·         Dyer's assertion that building company culture is more science than art. ·         The value of saying “yes” more often — and strategies to pull it off. ·         Why he says it's not valuable for companies and individuals to focus on improving their “so-so” skills. ·         A recap of the JofA Q&A with an NFL player turned CPA, just in time for the Super Bowl.

It's not even five weeks into 2025, and already there's a bevy of news affecting tax practitioners. Melanie Lauridsen, the AICPA's vice president–Tax Policy & Advocacy, joined the Journal of Accountancy podcast amid all the tumult to update listeners on several fronts. Lauridsen discussed the latest on beneficial ownership information (BOI) reporting and the Supreme Court, how IRS service might be affected by various executive orders, and what aspects of a new tax bill or bills are being followed closely by the AICPA. One bit of related news happened Thursday, one day after recording. The Senate Finance Committee released a discussion draft, the bipartisan Taxpayer Assistance and Service Act, which includes provisions the AICPA strongly supports. Resources: Melanie Lauridsen on LinkedIn The AICPA's BOI resource center JofA coverage of the IRS rescinding some job offers What you'll learn from this episode: A recap of court cases related to beneficial ownership information reporting requirements. The potential effects of an IRS hiring freeze on tax filing season. The role that retirements could play in future IRS service. Details of the AICPA's interest in proposed Circular 230 regulations. Why tax legislation this year could come in pieces instead of in one bill.

On LinkedIn, the congratulatory messages poured in for Janice Stucke, CPA, after she completed an Ironman triathlon in October. Those messages all had named authors — her LinkedIn contacts. One message, from a still unknown author, attached to her bike on race day, continues to resonate with Stucke, the CFO of CREW Network. In an earlier podcast episode, Stucke detailed her nontraditional path to becoming a CPA and, later, a CFO. In this conversation, Stucke recaps the obstacles she faced in the race, how problem-solving skills played a role in her crossing the finish line, and why she is thankful for a group of friends she first met at the Future of Finance Summit. What you'll learn from this episode: ·         A recap of Stucke's “exhilarating” day completing the triathlon. ·         The reason Stucke felt nauseous during the run segment — and strategies she tried to overcome the feeling. ·         The message that inspired Stucke — one that an unknown person put on her bike. ·         The meaningful support of a group of finance leaders Stucke first met at the Future of Finance Summit. ·         How completing the race helps in her role as a CFO. ·         What her next big goal might be and why technology implementations will be prioritized this year. ·         Why Stucke enjoys being around others who set audacious goals.

Risk management, in the words of Sarah Ference, CPA, doesn't have to be overly complicated or time consuming. “It's really a mindset,” said Ference, an author of the JofA's Professional Liability Spotlight column and the guest on this week's episode of the JofA podcast. Ference shares several risk management maxims that have resonated with her – ones that are the focus of the January column, Risk Management Mantras to Add to Your Daily Practice. In addition, Ference details the topics in some previous Professional Liabillity Spotlights: n  October: 10 Tips to Help Avoid Wire Fraud Scams. n  November: Missed Due Dates: Diligence and The Lurking Danger. n  December: How to Not Lose Sleep Over NOCLAR. What you'll learn from this episode: ·         Some of the risk management mantras that stand out to Ference. ·         The difference between being friendly and objective with clients. ·         The answer CPAs should give to the question “Who's your most important client?” ·         Why Ference says that being a natural helper can get in the way of a firm's best interests. ·         Explanation of the mantras “trust your gut” and “take the high road.” ·         Highlights of other recent JofA Professional Liability Spotlight columns.

What's the future of fully in-office work? What's the hiring outlook for finance and accounting roles in 2025? Steve Saah, the executive director of the finance and accounting permanent placement practice at Robert Half, tackles those and other questions in this episode of the Journal of Accountancy podcast, recorded in December in San Diego. Saah discusses how companies have to walk a fine line when it comes to requiring in-office minimum hours or days – and how that tightrope can affect the pay they offer new employees. The episode is the first of 2025 and the second from the Future of Finance Summit. In the first summit-focused episode, four CPA leaders looked back on what they learned and ahead to their expectations for 2025. What you'll learn from this episode: ·         Saah's assessment of the future of fully in-office work. ·         The tie-in between required time in an office and recruiting new hires. ·         How the amount of time agreed upon to spend in the office could affect a new hire's pay. ·         Is the annual employee review a thing of the past? ·         The hiring outlook for finance and accounting professionals and the in-demand skills for those roles.

Last week in San Diego, a group of 165 finance leaders convened for the fourth Future of Finance Summit. This JofA podcast episode is a compilation of takeaways from the event and a look at key areas of focus for leaders in 2025. It is the first of several Future of Finance recordings. The speakers for this episode are: n  Tom Hood, CPA/CITP, CGMA, AICPA & CIMA's executive vice president–Business Growth & Engagement n  Kimberly Ellison-Taylor, CPA, CGMA, the CEO of KET Solutions and former AICPA chair n  Becca Shane, CPA, CGMA, the CFO of Blue Marlin Ventures n  Okorie Ramsey, CPA, CGMA, vice president–Sarbanes Oxley at Kaiser Permanente and former AICPA and Association of International Certified Professional Accountants chair What you'll learn from this episode: ·         More about Tom Hood's summation that the event "leveled up." ·         The top priorities of finance leaders, based on polling last week at the Future of Finance Summit. ·         Why Kimberly Ellison-Taylor says she's looking forward to “clarity” in 2025. ·         Why the phrase “feed forward” and an emphasis on positivity resonated with CFO Becca Shane. ·         Okorie Ramsey's focus on the talent pipeline and relevance. ·         His explanation of the profession's need to “tell a better story.”

It's no secret anymore: Barry Melancon, CPA, CGMA, is retiring as CEO of AICPA & CIMA. He was first named CEO of the AICPA nearly 30 years ago, and he leaves the now global organization with a legacy of change. His last official day is Dec. 31, and Mark Koziel, CPA, CGMA, is his successor. In this episode of the JofA podcast, recorded earlier this week at Digital CPA in Denver, Melancon explains why he's not counting down the days of his tenure, why there likely will be more recreation in his future, and why he expects he will “still wake up every day and think about the profession.” What you'll learn from this episode: ·         Why Melancon hasn't been counting the days until his tenure as CEO ends. ·         His “stellar” assessment of how he will transition into retirement. ·         His relationship over the years with incoming CEO Mark Koziel, CPA, CGMA. ·         The “unsettled” nature of the world and how accountants can help. ·         Why Melancon prioritized the profession and the members before thinking of the organization. ·         The “humbling” messages he has received.

The potential for less regulation is one factor driving optimism among CPA decision-makers in a quarterly survey, according to Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development. Witt joined the JofA podcast to discuss fourth-quarter results of the Business and Industry Economic Outlook Survey — statistics that were dramatically different from the third quarter. The executives are mostly optimistic about the domestic economy in 2025. They also have a brighter outlook as it relates to their own organizations, although that increase since the third quarter was more muted. What you'll learn from this episode: A breakdown of the quarter-over-quarter change in optimism. What challenge returned to its familiar top spot in this quarter's survey. The reasons that optimists and pessimists feel the way they do, according to Witt's analysis. The hiring outlook for 2025.

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, reflected on how election results might inform future tax legislation and why any change in administration and tax policy can make it more difficult for practitioners seeking clarity. Lauridsen also discussed advocacy related to beneficial ownership information (BOI) reporting and what might change related to IRS funding, the corporate tax rate, and more in this episode of the Journal of Accountancy podcast. What you'll learn from this episode: ·       An update on AICPA advocacy related to BOI reporting relief. ·       Why Lauridsen expects any changes to the expiring provisions of the Tax Cuts and Jobs Act (TCJA) to be “hybrid” — as opposed to all TCJA provisions becoming permanent. ·       Discussion about the future of the deduction limit for state and local taxes, aka the SALT cap. ·       The fate of IRS funding from the Inflation Reduction Act — and why a “rebalance” might be possible. ·       Lauridsen's summation that 2025 “is a huge tax year.”

Tom Hood, CPA/CITP, CGMA, executive vice president–Business Growth and Engagement at AICPA & CIMA, understands why accounting skills are often ranked outside the top five of key skills in informal polling of finance audiences. “It's not because they're less important, but because the other skills are more important,” Hood said. The core requirements remain, but the ability to adapt and add new skills has grown in importance with the pace of transformation accelerating. In this episode of the JofA podcast, Hood expands on some recent themes of his travels and what he looks forward to from the Future of Finance Summit in December. What you'll learn from this episode: ·         Why mindset is more important in transformation than the toolset of technology. ·         Details of a recent report about skills from the Pennsylvania Institute of CPAs. ·         The skills that rank ahead of the “table stakes” of technical accounting skills. ·         Why it's important to “grab these new skills.” ·         The new way that Future of Finance Summit attendees will get a summary of the event.

Stig Nybo is not afraid to admit that he's made mistakes. He's also happy to have been part of a movement that improved the thinking around retirement savings. Nybo, a keynote speaker at the Employee Benefit Plans Accounting, Auditing, and Regulatory Update, a Dec. 4-5 virtual event, co-wrote the book Transform Tomorrow: Awakening The Super Saver in Pursuit of Retirement Readiness. In this episode of the JofA podcast, Nybo talks about finding passion at work, why attempts to fix things can lead to breaking other things, and the “entire ecosystem” that's aiming to drive better retirement-savings habits. What you'll learn from this episode: ·         The circumstances that led to Nybo co-authoring a book emphasizing saving for retirement. ·         The 2019 JofA podcast guest that Nybo interviewed for his book. ·         Why his message is about more than saving, creating retirement plans, or auditing such plans. ·         Why he agrees with the words of Mark Twain when it comes to career choice. ·         The issues Nybo and others aimed to fix related to retirement saving – and what got “broken” in that process.

Digital disruption is everywhere, including in the practice of internal audit. An audit leader joined the JofA podcast recently to discuss how technology can be harnessed instead of feared or resisted. Anthony Pugliese, CPA/CITP, CGMA, president and CEO of The Institute of Internal Auditors (IIA), said it is understandable for fast-moving technology to be daunting. But such technology presents opportunities as well as risks. One tie-in is the new tools' ability to attract the next generation of talent for auditing. In this episode, Pugliese reviews recent IIA research, reminds auditors about the importance of curiosity, and discusses some of the misconceptions facing the profession. What you'll learn from this episode: ·         Highlights of recent research by The IIA about top risks. ·         Some of the “misconceptions” about internal auditing, according to Pugliese. ·         How the “slow trek” of blockchain integration into processes differs from today's tech implementations. ·         The “most golden thing” auditors can do. ·         A reminder of the timeline for adoption of international auditing standards.

Scott Simmons is co-managing partner at the firm Crist Kolder Associates. In more than two decades handling executive searches for clients, he's seen the qualifications for the CFO role change dramatically. The pressure on CFOs to deliver value has also grown. While some skills remain constant, of course, so do the paths to landing a CFO role. In this JofA podcast episode, Simmons takes listeners through some of the recent statistics in the firm's annual Volatility Report, discussing the importance of escaping one's comfort zone and developing new skills to be in line for a job as finance chief. What you'll learn from this episode: The number of CFOs at larger companies who have Big Four accounting backgrounds. The companies and C-suite positions Crist Kolder tracks in its annual Volatility Report How candidates can develop CFO skills without first becoming a CFO. Why an investor relations rotation should be something aspiring CFOs “jump” to accept. The major college athletics conference that has produced the most CFOs in companies tracked in by Volatility Report.

In less than four weeks, IRS officials and tax practitioners will gather in Washington for the AICPA & CIMA National Tax Conference. The event begins six days after Election Day, when it's possible there will be clarity about election results and about the future of tax legislation. On this episode of the podcast, two speakers closely tied to the conference explain what it will offer attendees, detailing agenda specifics. April Walker, CPA, CGMA, is lead manager–Tax Practice & Ethics at AICPA & CIMA, and Brandon Lagarde, CPA, J.D., LL.M., is chair of the event's planning committee. Walker hosts the Tax Section Odyssey podcast. Also, a new AICPA & CIMA CEO was named Wednesday. That news is mentioned at the start of the episode. What you'll learn from this episode: ·         What Lagarde and Walker look forward to about this year's conference. ·         The potential for learning more during the conference about the future of the Tax Cuts and Jobs Act. ·         The reasons Lagarde called the event “the most important conference” for tax practitioners. ·         A look ahead to a session on transforming tax practices to include year-round advisory services. ·         The topics in a quiz-focused session on tax ethics. ·         Why Lagarde says attendees shouldn't worry about attending one concurrent session over another.

Alicia Antonetti-Tricker, a principal at Crowe LLP, remembers a time when she saw very few women in leadership roles in the accounting profession. Whether barriers were real or perceived, she said, “there were barriers for women advancing in the profession.” Today, that's changing, and events such as the AICPA & CIMA Women's Global Leadership Summit, which is in November in Bellevue, Wash., have helped to continue the momentum for women ascending to accounting leadership roles. In this podcast episode, Antonetti-Tricker discussed highlights of a session she took part in last year, one she says typifies the summit's agenda. She also touched on some of the initiatives Crowe has put in place and why finding advocates and allies is important for women to continue to advance to leadership roles. What you'll learn from this episode: ·         What stuck out to Crowe's Alicia Antonetti-Tricker about meetings nearly 30 years ago. ·         The value of powerful connections in helping to grow the number of women in leadership roles in the profession. ·         A look back at a session that is typical of the AICPA & CIMA Women's Global Leadership Summit. ·         A by-the-numbers look at progress made related to women in leadership positions. ·         Why Antonetti-Tricker keeps coming back to the summit.

Becoming a CFO isn't easy. Neither is completing an iron-distance triathlon. Janice Stucke, CPA, is doing both, and she relies on accounting skills to improve in triathlon and applies triathlon persistence to her role as finance chief. Stucke is the CFO of CREW Network, the acronym standing for Commercial Real Estate Women. In this JofA podcast episode, Stucke shares her somewhat unconventional path to becoming a CPA, how she developed interest and expertise in technology implementations, and how she has dealt with panic-inducing moments. What you'll learn from this episode: ·         Stucke's nontraditional path to becoming a CPA. ·         What “your comfort zone will kill you” means for Stucke, who is preparing to compete in a 140.6-mile Ironman triathlon: 2.4-mile swim, 112-mile bike, and 26.2-mile run. ·         How Stucke has navigated fear and anxiety before and during competitions. ·         Time management and other prioritization advice. ·         Details on the spring 2025 CFO Conference.

Jeff Drew, the JofA's editor-in-chief, is the guest on today's episode, the 400th in the history of the JofA podcast. He's recapping for listeners some of the top articles of the summer and looking ahead to content in future issues. Drew, a former JofA senior editor and manager with the AICPA's Private Companies Practice Section, has focused on content for the daily and monthly magazines for more than a decade. He reviews or previews coverage on numerous topics, including the retirement of AICPA & CIMA CEO Barry Melancon, CPA, CGMA. Resources September JofA: HTML version | Flipbook Articles (HTML links) How academia is tackling the accounting talent shortage Rewriting accounting's employment narrative Taxation of influencers: Gifts with strings attached? Using ChatGPT-4o with Excel Using ChatGPT to build a standard operating procedure   Summer feature articles ·         Single-owner firms: The thrill of flying solo ·         What not-for-profits need to know about UBIT ·         How CPAs can benefit from not-for-profit board service ·         Guiding not-for-profits through post-pandemic challenges ·         What to know to avoid deficient not-for-profit audits Technology Q&A ·         How to find errors in Excel formulas ·         How to create a watermark in Excel ·         Identify and delete duplicates in Excel ·         Get more out of Teams with these 5 features ·         4 features for enhancing PDFs ·         Building an HR guide with ChatGPT  Professional Liability Spotlight IRS funding and a potential rise in malpractice claims Issue links: August HTML | Flipbook July HTML | Flipbook June HTML | Flipbook Podcast episodes: Barry Melancon part 1 Barry Melancon part 2 If you have article ideas or other magazine feedback, you can reach Drew at Jeff.Drew@aicpa-cima.com. What you'll learn from this episode: ·         The “incredible range of backstories” in an article focusing on sole practitioners and sole proprietors. ·         The focus of several recent Technology Q&A articles. ·         Highlights of a summer Professional Liability Spotlight article. ·         The link between Barry Melancon and Muhammad Ali. ·         A preview of the October digital edition of the JofA.

Carla McCall, CPA, CGMA, managing partner of the firm AAFCPAs, began her one-year term as AICPA chair in May. In this JofA podcast episode, she said that “whirlwind” was a good description of the first few months in the role, “but in a good way.” “If you truly love what you do, somehow it doesn't seem so arduous and it goes by real quick,” McCall said, labeling interactions with numerous people in the profession as “rewarding.” In this episode, McCall reflects on what she's learned about herself, why her firm has benefited from her “front-row seat,” and her message to accountants about doing their part to grow the talent pipeline. Resources n  McCall's June 2023 appearance on the show n  More about McCall's points of emphasis as AICPA chair and AICPA & CIMA co-chair

Ken Witt, CPA, CGMA, AICPA & CIMA associate director – Management Accounting Research and Development, discusses in this JofA podcast episode the reasons that finance executives in a quarterly AICPA & CIMA survey continue to lower their optimism about the U.S. economy. He also reveals what CPA decision-makers now view as their organization's top challenge. For the first time in a long time, it's not inflation. On the episode that detailed the previous quarter's survey, Witt noted that inflation “seems to be settling out a little bit.” This quarter's survey data shows that was an accurate assessment, as inflation concerns are diminishing somewhat. What you'll learn from this episode: ·         Details about Witt's assessment of this quarter's results as “interesting.” ·         The surprising parts of the third-quarter data. ·         Updated projections for revenue and profits in the coming 12 months. ·         How election-year uncertainty is affecting CPA decision-makers' business forecasting efforts. ·         The percentage of finance executives who say that a potential lowering of the federal funds rate would have a favorable impact on their business.

In about two months, Corey Ciocchetti will deliver a keynote session at the AICPA & CIMA Governmental and Not-for-Profit Training Program. He previewed that session in this episode of the Journal of Accountancy podcast. In the conversation, Ciocchetti discusses how he chose what law school to attend, why his more recent presentations mention the importance of civil discourse, and what he remembers about a speech by the founder of a prominent mutual fund company. What you'll learn from this episode: ·         Why he thinks people have a hard time prioritizing friendships and pursuing a sense of contentment. ·         His decision on where to attend law school and that decision's link to a different keynote speaker at an AICPA & CIMA event. ·         What the phrase “real rabbits” means to Ciocchetti. ·         Ciocchetti's recall of one early student interaction that changed how he viewed audience engagement.

On this episode of the JofA podcast, Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, explains some of the tax-related repercussions of recent Supreme Court decisions. One case could have a dramatic effect on future rulemaking, and the other could have a decades-long retroactive effect. On June 28, the Supreme Court overturned its decision in Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984), holding that the Administrative Procedure Act (APA) requires courts to exercise their independent judgment in determining the meaning of statutory provisions, and courts may not defer to an agency's interpretation of the law just because a statute is ambiguous (Loper Bright Enterprises v. Raimondo, No. 22-451 (6/28/24)). On July 1, the Supreme Court decision expanded the time frame to sue federal agencies, holding that the six-year statute of limitation for lawsuits challenging regulations does not start to run until a plaintiff is injured by final agency action (Corner Post, Inc. v. Board of Governors of the Federal Reserve System, No. 22-1008 (7/1/24)). What you'll learn from this episode: ·         Background on the Loper Bright and Corner Post decisions. ·         Why Lauridsen said that one of the rulings was unexpected. ·         Why Sec. 6045 broker regulations could now be “vulnerable.” ·         The reasons that, according to Lauridsen, the Loper Bright decision will not likely affect beneficial ownership information reporting requirements. ·         How legislators on Capitol Hill have reacted to the decisions.

Barry Melancon, CPA, CGMA, was named the leader of the AICPA when he was in his mid-30s. Now, in his final months as CEO of AICPA & CIMA, he discusses the events that challenged the profession, risks that could be obstacles in the future, and why he's optimistic about the role accountants play. In this conversation, the second of two parts, Melancon challenges the notion that the profession is slow to change, explains why trust will continue to be important, and emphasizes the importance of speed and competencies in continuing to evolve. Listen or read part 1 here. What you'll learn from this episode: ·         A quick summary of the topics in part 1 of the conversation. ·         Why Melancon believes the word “passion” would be used to describe him. ·         What Melancon called “the most tumultuous period” of his career and how he viewed the profession's emergence from that era. ·         Why speed will be important in the continued transformation of the accounting profession. ·         His thoughts on the “competency evolution” of accountants just entering the profession. ·         Melancon's contention that it's “naïve” to think artificial intelligence will not affect jobs.

Barry Melancon, CPA, CGMA, was named leader of the AICPA when he was in his mid-30s. Now, in his final months as CEO of AICPA & CIMA, he discusses his background and upbringing, his unlikely path from rural Louisiana to speaking to leaders around the world, and why he puts extra emphasis on trust. Part 2 of the conversation, recorded in July, will be published next week. Below are links to the previous two-part discussion with Melancon, episodes that were published in December and January: n  News and trends affecting CPAs n  Business model transformation, private equity, and more What you'll learn from this episode: ·         More from Melancon about what he calls “a great journey.” ·         His assessment of how the profession has changed since the mid-1990s. ·         Some of the skills learned during his tenure as CEO. ·         Why he says the world is “devoid of trust.” ·         A preview of topics discussed in Part 2 of the conversation, scheduled to publish next week.

The National Pipeline Advisory Group published its final report on talent solutions for the accounting profession, and the group's chair, Lexy Kessler, CPA, CGMA, joins the Journal of Accountancy podcast to hit on the high points. Kessler is AICPA vice chair and also mid-Atlantic leader for the firm Aprio. In this episode, she shares next steps for the profession. What you'll learn from this episode: An overview of the six major themes of the report. How a “plethora of perspectives” came together to address solutions for the pipeline issue. Details about addressing the time and cost of education. An explanation of the three E's that represent the components of CPA licensure. What's next as the recommendations move from paper to practice. How CPAs and educators can take the Pipeline Pledge.

Tom Vartanian, executive director of the Financial Technology & Cybersecurity Center, joined the JofA podcast recently to discuss concerns about the rapid pace of technology adoption. Although he sees the benefits technology has had, he also sees drawbacks. “It's not that we shouldn't have technology, it's not that we shouldn't applaud tecnology,” Vartanian says in the episode. “It's just that our balance is off.” Vartanian, a former federal banking regulator and the author of nine books, is a keynote speaker Sept. 9 at the AICPA & CIMA Conference on Banks & Savings Institutions, which is co-located with the AICPA & CIMA Conference on Credit Unions. What you'll learn from this episode: Why Vartanian senses “irrational” euphoria about rapid technology advances. The speaker's reminder about the original, limited purpose of the internet. Details on the assertion of “going back to fundamentals” when it comes to cybersecurity. The difference in approach between a regulated bank and a third-party service provider. The value of strong leadership in mitigating cybersecurity concerns.

The AICPA & CIMA Cannabis Industry Conference starts Aug. 12 in Aurora, Colo. Rachel Gillette will be one of the event's front-and-center speakers and moderators. Gillette joined the Journal of Accountancy podcast recently to discuss some of the trends and issues affecting the industry from a legal and regulatory perspective. Gillette, a Denver-based attorney, also explained how she ended up in this niche practice area. What you'll learn from this episode: ·         Background on the proposed rescheduling of cannabis and why it matters for the industry and for accountants who advise cannabis businesses. ·         Gillette's opinion of what might happen with cannabis-related legislation. ·         Why potential cannabis rescheduling could mean that certain businesses are no longer subject to Sec. 280E. ·         How the potential changes could affect CPAs. ·         What Gillette looks forward to about the AICPA & CIMA Cannabis Industry Conference. ·         How a decision more than 15 years ago led Gillette to her current area of legal practice.

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, joined the Journal of Accountancy podcast earlier this month to discuss the latest developments related to several items of note for tax practitioners. Lauridsen shared data from a survey of members about IRS performance during tax filing season. She also analyzed recent IRS proposed regulations related to interest recapture on excess COVID-19 credits.   In her previous podcast update, Lauridsen focused on IRS data related to its performance during filing season. Lauridsen said that detailed information will be coming soon on the Tax Section Odyssey podcast related to the employee retention credit. What you'll learn from this episode: ·         Updates related to employee retention credit (ERC) claims. ·         Why ERC claims labeled “medium-risk” by the IRS are on hold. ·         Lauridsen's analysis of proposed regulations released by the IRS earlier this month. ·         The focus of a Maryland opinion on beneficial ownership information (BOI) reporting requirements. ·         The “awareness issue” related to BOI reporting. ·         Why Lauridsen said that the sentiment of tax practitioners is not in alignment with that of the IRS when it comes to IRS performance during filing season. ·         The “safe harbor” that could be offered by a congressional bill. ·         Updates on AICPA advocacy work with several entities.

Tony Nitti, CPA, discusses a recent U.S. Supreme Court decision that some observers viewed as having the potential for wide-ranging changes in tax law. In the end, the decision was a narrow one, but the details of what was addressed and what wasn't make for an interesting conversation on this collaborative podcast episode. Nitti, partner–National Tax at EY, joins April Walker, CPA, CGMA, lead manager–Tax Practice & Ethics at AICPA & CIMA, for this episode, jointly produced by the JofA and the Tax Section Odyssey podcast. On June 20, the Supreme Court upheld the constitutionality of the Sec. 965 transition tax in a narrow opinion that applies only to passthrough entities (Moore, No. 22-800 (U.S. 6/20/24)). The Court found it was not required to address whether it is a constitutional requirement that income must be realized before it can be taxed. Nitti and Walker discussed the ruling in a late June recording. Resources: n  The unabridged version of the Walker and Nitti conversation on the Tax Section Odyssey page. n  Journal of Accountancy news coverage of the June 20 Supreme Court ruling. n  A November 2023 conversation about the Moore case. What you'll learn from this episode: ·         Details of the Supreme Court vote and the facts of the Moore case. ·         Why Nitti said that an expected “showdown” didn't happen. ·         What Nitti observed about the case from its oral arguments in late 2023. ·         How the case could open up further discussion on the taxation of unrealized gains and the constitutionality of a wealth tax. ·         The value, in Nitti's eyes, of reading the dissenting opinions.

Calvin Harris, CPA, knew he wanted to be an accountant well before he got to college. He had several mentors who helped him make that decision. It's one reason he believes that accountants need to reach students early and tell a better story about the profession. Harris was first on the JofA podcast in February 2022, when he was CFO of the National Urban League. Today, he's CEO of the New York State Society of CPAs and keenly aware of some of the profession's issues related to available talent. He discussed some of the ways accountants can help attract candidates to the profession and commented on the draft recommendations in the recently published report by the National Pipeline Advisory Group. What you'll learn from this episode: How technology has energized Harris and how it's empowering young CPAs. How Harris's mother, a former high school teacher, influenced his career choice. The crucial role diversity and inclusion can play in the future of the profession, according to Harris. Why telling a better story — and telling it early and often — is a must to address accounting pipeline concerns. How Harris, later in life, added the New York City Marathon to his list of accomplishments.

Byron Patrick, CPA/CITP, CGMA, took time from his schedule during AICPA & CIMA ENGAGE a few weeks back to join the JofA podcast. Patrick, recently named CEO at a startup company, has been a regular on the show over the years, talking mainly about technology topics. He continued that theme in this episode, discussing artificial intelligence, how the roles of chief technology officer and chief information officer have changed over the years, and why accounting professionals shouldn't feel overwhelmed by all the tech-focused changes taking place. Also, click here for the podcast episode from nearly five years ago in which Patrick discussed the use of emojis in email. What you'll learn from this episode: Why Patrick calls ENGAGE “the premier event of the year.” Details about the AICPA and CPA.com Startup Accelerator. A summary of key messages and themes from a technology-focused ENGAGE session. Patrick's advice for fellow accountants who might feel overwhelmed by the speed of technology-based changes.

Sara Lord, CPA, is chair of the Auditing Standards Board (ASB), which recently issued a new standard that completes the suite of quality management standards ahead of an important implementation deadline in late 2025. Lord, who discussed advice for firms on implementing the standards on a JofA podcast episode in 2022, joined the show again last week to talk about the end of a journey. In this episode, Lord details the terminology changes made official by the ASB's May 14 vote. In the conversation, there is a mention of the standard being available sometime in June. Since recording, the link has gone live and is available here: Statement on Standards for Attestation Engagements No. 23. What you'll learn from this episode: ·         An explanation of the changes implemented by the ASB in a May vote. ·         Why the May vote marks “the end of a standard-setting journey.” ·         Why Dec. 15, 2025, is an important date for implementation of the standards. ·         Implementation guidance, including where to find resources. ·         The sense of “rejuvenation” Lord feels each year at ENGAGE.  

Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development, explains in this JofA podcast episode why finance decision-makers in the second-quarter Business and Industry Economic Outlook Survey are less optimistic now compared with the first quarter. Witt summarizes the survey results, including CPA decision-makers' expectations for revenue and profit increases and the top challenges facing them and their businesses. What you'll learn from this episode: ·         Why Witt says the outlook this quarter is “mixed.” ·         An overview of respondents' sentiment about the domestic and global economies. ·         The “signs of strength” in KPIs, including revenue and profit projections for the next 12 months. ·         One metric that Witt will monitor in the third-quarter survey results.