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Third-Party Verification Requests

As a trusted adviser, a CPA is often the first resource clients turn to for many financial issues. While often these questions are in the context of a service the CPA may already be engaged to provide (tax compliance, estate planning, etc.), it is not uncommon to receive other requests that seem simple but can carry unique challenges. To read the full article in The Tax Adviser, click: Third-Party Verificat ...

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Strategies for Quality Work in Single Audits

Like many members of the CPA profession, single audit practitioners will be managing a change process while maintaining an intense focus on quality. To read the full article in Journal of Accountancy, click: Strategies for Quality Work in Single Audits. ...

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Add Value to Audits with Client-Focused Analytics

Accounting services are rapidly becoming commoditized, and when clients don’t perceive a clear difference between service providers, they may choose the least expensive option. This is especially true for audit services, where clients—as well as auditors themselves—may see little difference between the work of competing firms. To read the full article in Journal of Accountancy, click: Add Value to Audits wi ...

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I Received My CVA and MAFF.

Now How Do I Obtain Work? Earning a professional accreditation, such as the CVA is an accomplishment. Getting engagements thereafter is another matter. In this article, the author shares what he thinks newly minted CVAs may want to consider to develop their practice niche and brand. ...

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Four Skills Accountants Need to Succeed in a Tech-enabled Future

New duties will require plenty of understanding and good communication.  Many experts expect accountants' work and duties to change fundamentally in the coming years.  Technology will allow for a more complete audit that uses all available data rather than samples.  And the scrutinizing of anomalies will provide opportunities for auditors to provide more useful information to clients. To read the full artic ...

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Public vs. Private Blockchains: What CPAs Should Know

If you or your organization is interested in adopting blockchain technology, you need to know the difference between public and private blockchains.  One might be a better option than the other.  This blog post can help you decide. To read the full article in AICPA Insights, click: Public vs. Private Blockchains: What CPAs Should Know. ...

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Engagement Letter Stories—When They Hurt and When They Worked

As a risk management professional at CNA, professional liability insurance carrier for nearly 25,000 CPA firms, I am often asked if engagement letters are worth all the effort.  The answer, based on my personal and CNA’s claim experience, is a resounding YES!  I’ve experienced firsthand the value these letters bring to the table. To read the full article in AICPA, click: Engagement Letter Stories—When They ...

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How AI, Blockchain, and Automation Will Reinvent Accounting

The accounting profession sits on the cusp of unprecedented change.  Transformative technologies will reshape virtually every corner of the accounting world.  For CPAs to survive and thrive, they will need to learn—and unlearn—on a scale and at a pace that can seem overwhelming.  To help CPAs prepare, the JofA gathered three of the profession’s top technology experts for its annual accounting technology rou ...

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Accountants Reveal What Inspires Them Every Day

Day in, and day out, how do you stay inspired?  We asked nine accountants what inspires them and what advice they would give to help others in the profession find that inspiration. To read the full article in the Journal of Accountancy, click: Accountants Reveal What Inspires Them Every Day. ...

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Last-Minute Revenue Recognition Implementation Tips

The implementation effort surrounding FASB’s new revenue recognition standard is nearing an end for many companies; the deadline for compliance for public companies is the beginning of 2018.  Despite the years of preparation, certain aspects of compliance, particularly the complex disclosure requirements, are being left to the final hours.  Some companies are playing catch-up, scrambling to have their discl ...

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Association, CPA.com Launch “Shark Tank” for Startups

The Association of International Certified Professional Accountants and CPA.com are launching an early-stage company accelerator to promote innovation and give the profession early insight into disruptive technologies.  The Association and CPA.com Startup Accelerator will provide funding and other support to as many as five early-stage companies that emerge from a competition. To read the full article in th ...

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How to Comply with the New AICPA Ethics Standards for M&A

The rise in firm discontinuances and sales brings with it a host of practitioner concerns regarding independence, confidentiality, and the transfer of client files.  To address these concerns and provide specific guidance, the Professional Ethics Executive Committee issued two new interpretations of the AICPA Code of Professional Conduct (the Code) and revised an existing interpretation.  April Sherman, man ...

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How Implementing Value Pricing Can Help Your Staff Get More Done

As many firms are struggling to recruit and retain qualified people, some practitioners have found that value pricing has made their working environment more efficient and more attractive to staff members.  Value pricing can keep your team happier and make your firm more profitable. To read the full article in the Journal of Accountancy, click: How Implementing Value Pricing Can Help Your Staff Get More Don ...

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5 Tips to Help Identify Fake Financial News

A new survey reveals fake financial news is affecting Americans' ability to make retirement, investment and health care decisions.  Even worse, Americans feel that fake news will be more prevalent in the future.  The AICPA National CPA Financial Literacy Commission has tips to help keep Americans from falling into the fake news trap. To read the full article in AICPA Insights, click: 5 Tips to Help Identify ...

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Why Financial Planning Makes Sense for CPAs

How Personal Financial Planning Complements CPA Practices Adding personal financial planning services can help CPA firms build stronger bonds with clients and open up opportunities for referrals, writes Stuart Kessler, CPA, PFS.  He shares several techniques that can help your PFP practice, beginning with helping clients feel relaxed and comfortable during initial meetings.  CPAs who are interested in addin ...

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Innovation Showcase: CPA Employers on the Cutting Edge

Practices usually associated with startups have helped these seven employers of CPAs establish welcoming cultures and retain employees.  From virtual workplaces to vacation stipends to having employees set their own hours, these innovative practices are helping employers drive productivity.  Lea Hart, AICPA associate editor, explains. To read the full article in the Journal of Accountancy, click: Innovation ...

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What Large Firms Expect From New Accounting Grads

Recruiters from large firms, including the Big Four, reveal what skills and competencies they look for in new hires.  Sarah Ovaska-Few discusses these tips. To read the full article in AICPA, click: What Large Firms Expect From New Accounting Grads. ...

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How to Add a New Specialty to Your Practice

By developing expertise in a new practice area, a CPA can increase income and become a more well-rounded professional.  Robert M. Caplan, CPA, shares his helpful insights on how to help you and your practice. To read the full article in The Tax Adviser, click: How to Add a New Specialty to Your Practice. ...

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