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We are excited to announce that we have just migrated AICPA Insights to a new home at future.aicpa.org. The new website will offer a more dynamic, user-oriented experience, and allow you to choose what you will see based on your preferences. To maximize the benefits of the new platform, we recommend that you create an account and set your preferences. By doing so, you will be able to bookmark content, set topical preferences and create your own feed of preferred topical content, sections, CPE and purchases. If you already have an aicpa.org login, the same details will work on future.aicpa.org ..read more

Even before the pandemic, digital transformation and new ways of working were significantly influencing the skills and capabilities finance teams need. The coronavirus pandemic accelerated that need as people and businesses sought digital experiences and solutions more than ever. Based on conversations I had with CFOs worldwide, I shared insights [listen here via podcast]. They told me the skills and competencies finance teams must develop to adequately support the business in today’s world. Still as relevant now as they were a few months ago, these skills include: Knowledge of transfor ..read more

It’s tax season. That means it’s showtime for CPAs, and the show must go on. You are the star of the show, and your script constantly changes, making it difficult to keep yourself up to date and focused. So, how can you motivate the rest of your hardworking team? Many activities and steps can motivate your team. Here are five that are the most critical for success.   1. Prioritize communication. Issues inside an accounting firm almost always can be traced back to someone’s communication failure. With so much of your team working remotely, make an extra effort to ensure that your staff kn ..read more

A year has passed since COVID-19 began its worldwide disruption, but the full effects have not yet been realized. The anniversary prompts us to pause and consider where we’ve been and where we’re going. A recent Not-for-Profit Section webcast offered key takeaways to help not-for-profits (NFPs) manage current disruption and prepare for changes yet to come. The overarching theme? Plan for the worst, prepare for the best. 1. Build for tomorrow, not today. Pandemic-related shutdowns crippled organizations that weren’t prepared to operate remotely. Those who already converted critical functions t ..read more

Embracing diversity and practicing inclusion is critical to the success of your firm. Welcoming different perspectives and creating a true sense of belonging for everyone is how you build strong teams. Many of us are familiar with the concept of diversity as including people of varying race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information and protected veteran status. Inclusion, as a concept, can be more difficult to grasp and, therefore, challenging to implement. Organizations have varying roles ..read more

One year ago, we were still in the early days of the COVID-19 pandemic. Everything around us was changing, and the crisis thrust our profession into a new way of working seemingly overnight. In this disruption, you never wavered. You adapted to the unpredictable environment, evolving what you do and how you do it to lead your clients, businesses and communities through the crisis. Because of your work, we’re on the path of economic recovery. And because of you, our profession not only endured, but it became more agile, influential and trusted than ever before. Over the years, our profession h ..read more

I’m sure many of us relate to the “one-year-later” pandemic fatigue prominently featured in the news. I’ve heard from several members about difficulties connecting with and supervising remote audit teams while dealing with life during a pandemic. Because I once was an employee benefit plan auditor, I understand your pain. EBP auditors must know and adhere to U.S. auditing standards, plus follow additional U.S. Department of Labor requirements. There are many changes for the EBP auditor to master this year. Here are three considerations to keep in mind for audits this summer. The new auditor ..read more

Millions of people lost their jobs and filed for unemployment benefits each week for the past year. There are10 million Americans still unemployed, according to the latest Labor Department statistics. After a hard year during the pandemic, many people couldn’t wait to get their taxes done to close the chapter on 2020 and start fresh in 2021. Where we are now? Under the American Rescue Plan Act that President Biden signed March 11, 2021, Americans who received unemployment benefits last year can retroactively claim a tax exclusion of up to $10,200 of unemployment benefits received in 2020 ..read more

A human experience I don’t love my job because of the work I do. I love my job because of who I work with and what we do for one another. The memorable moments in my career are not the audit tasks I perform but the audit teams I am a part of and what we learn about each other. Coming out of school and into my career, traveling out of town for my first audit with strangers was a scary thought. I was nervous and didn’t want to do or say the wrong things. To my surprise, on the first night of the audit, the managing partner asked me to hang out at the hotel bar. My initial thought was, “Great, m ..read more