A coauthor of the JofA’s Professional Liability Spotlight column discusses the risks for CPAs related to the Great Wealth Transfer, how accountants can serve as a “critical guardrail” for clients, and the key components of an effective AI policy. Listen to the podcast episode or read the Q&A.
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TOPICS
Firm practice management
Drafting an AI policy that actually works
Find out what firms can do to create and maintain effective generative AI policies that align with professional and regulatory obligations.
AICPA Top Issues Survey: Firms’ focus on technology rises
Larger firms participating in the biennial Private Companies Practice Section survey also are grappling with people-related issues, and smaller firms highlighted regulatory and data security concerns.
Crowe partners with private equity; Baker Tilly on the move
Crowe is the latest top 15 firm to strike a private-equity deal. Also, Baker Tilly announced plans to relocate its headquarters to New York and acquire another top 100 firm.
ENGAGE takeaways: 7 principles to improve CPA firm profitability
For the 10th consecutive conference, former AICPA chair Bill Pirolli shared tried-and-true keys for next-level financial success for firms.
4 ways sole practitioners can set themselves apart
Gaining clients’ trust is key to building a modern practice. Learn from a CPA who did it.
Making the right choice when no one is watching
When clients think nobody is watching, the CPA’s judgment becomes an even more critical guardrail between short‑term temptation and long‑term consequences.
Aligning with AI: Lisa Simpson on how to overcome sense of overwhelm
An AICPA vice president reflects on the growth of Town Hall and shares how CPAs can manage AI overload. Also, get a breakdown on the recent AICPA and CIMA survey on CPA decision-makers’ economic sentiment.
Workplace stress reaching a breaking point? How employers can respond
Fifty-two percent of employees in a recent survey self-medicated at work in the previous year, and nearly as many (51%) cried on the job in the previous month. During Mental Health Awareness Month, what can organizations do to ease the pain?
Managing CPA liability in the Great Wealth Transfer
As Baby Boomers transition trillions to their heirs, CPAs face growing estate, gift, and trust liability risks. Learn how costly claims arise — and practical steps to reduce exposure.
Facing cost pressures, CFOs turn to AI and automation
Cost management topped CFOs’ list of internal risks in a recent Deloitte survey, and respondents cited automation and technology upgrades as the most proven way to control costs.
How to start a CPA practice: Lessons from a firm founder and a risk expert
Thinking of starting your own CPA firm but not sure where to begin? Two experts with deep knowledge on the topic detail what it takes, including a focus on managing risk in the early years. Listen to the episode or read the Q&A.
What small firms are getting right about tech and why they’re not alone
Small CPA firms, “the heart and center” of the accounting profession, are the focus of this episode of the JofA podcast. An AICPA vice president discusses how AI and automation are leveling the playing field and how innovation can thrive in smaller practices. Listen to the episode or read the Q&A.
Executive turnover slows, but AI strategy remains unclear
A global survey reveals that executives aren’t changing jobs nearly as often as they did a year ago, but many are seeking better internal support for strategic objectives built around artificial intelligence.
Liability lessons on documentation, high-profile clients, CAS engagement letters
An author of the JofA’s Professional Liability Spotlight column explains why documentation matters in defending liability claims and what can go wrong when CPA firms serve high-net-worth or celebrity clients. Listen to the episode or read the Q&A with Sarah Ference, CPA.
Tips for writing CAS engagement letters
The nature of a client accounting and advisory services engagement is determined solely by the agreement between the accountant and client.
IESBA to assess need for standards on alternative practice structures
The International Ethics Standards Board for Accountants will examine whether new standards are needed to address ethical considerations related to the prevalence of private-equity investment in the accounting profession — a topic already being addressed by the AICPA Professional Ethics Executive Committee.
Top 50 firm announces new majority private-equity investment
Schellman’s investment from Goldman Sachs, a transaction expected to close in the second quarter of this year, comes after its initial private-equity deal with Lightyear Capital in 2021.
Luxury liabilities: Serving high-net-worth clients
Managing the lifestyles of the rich and famous has its appeal. You can make money while also getting a glimpse into a world most people never get to see. But not everything is glitter and gold. Though these engagements offer intriguing and lucrative opportunities, they also present heightened risks. Imagine
COSO creates audit-ready guidance for governing generative AI
The Committee of Sponsoring Organizations of the Treadway Commission’s publication relies on its proven internal control framework to help companies manage AI-related risks.
Features
FROM THIS MONTH'S ISSUE
Drafting an AI policy that actually works
As AI use accelerates, many firms are discovering their policies haven’t kept pace. This article breaks down what CPAs and finance leaders should consider when drafting an AI policy that’s practical, flexible, and fit for real world use.
