Personal Financial Planning

In response to a Treasury Department request for comments, the AICPA National CPA Financial Literacy Commission encouraged the development of an education strategy for promoting universal financial literacy in the United States ( ) and emphasized the skills CPAs can contribute to such an effort. The Institute established the commission to lead the profession in improving Americans’ ability to understand and manage their finances.

The Institute published a series of Statements on Responsibilities (SORs) applicable to any member providing personal financial planning (PFP) services on a full-time, part-time or occasional basis. To help members understand this guidance, the AICPA is publishing a series of explanatory articles. One such article ( ) focuses on SOR no. 2, Working with Other Advisors in a PFP Engagement, explaining its provisions and addressing compliance issues and practice opportunities for CPAs.


6 key areas of change for accountants and auditors

New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.


How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.