10 startup companies leading innovation for the accounting profession

Each year, the AICPA and CPA.com invite early-stage companies worldwide to apply to participate in our Startup Accelerator. The program, launched in 2017, invests in and helps early-stage startup companies grow throughout the accounting ecosystem so they can help transform the accounting profession. The program also provides us with direct line of sight into emerging trends to help round out our overall mission to build an innovation ecosystem.

In a recent LinkedIn Live, CPA.com VP of Strategy and Innovation, Kacee Johnson, announced the participating members of the 2022 cohort. This select group of early-stage companies is developing a variety of solutions across audit, AI, risk reporting, education, and environmental, social and governance (ESG) issues.

As part of the program, these companies get exclusive access to a highly regarded panel of experts and advisors, which includes senior CPA.com and Association executives. Additionally, the companies receive a $25,000 grant and the opportunity to showcase their solutions at AICPA Engage, the profession’s largest conference.

“We’ve seen over the past decade how emerging technologies evolve practitioner skillsets,” said Johnson. “The Startup Accelerator was born from the recognition that we can help those companies who are making a difference for the accounting and finance role, and it allows us as an organization to lean-in to different categories to better understand future disruptive trends.”

The 2022 Startup Accelerator features the following companies and solutions:

• AuditMiner – The Omaha-based company’s solution leverages automation to streamline and standardize audit workpapers and templates, increasing the quality and consistency of Employee Benefit Plan (EBP) audits across a CPA firm.
• Once Accounting – (formerly BaCo Tech) - Managing clients’ records across multiple platforms can be challenging. Dallas-based Once Accounting is a client integration platform that seamlessly incorporates records into a firm’s tax or accounting solution
• Fieldguide – Based in San Francisco, Fieldguide is an automation and collaboration platform that streamlines the end-to-end engagement workflow for modern risk assurance and advisory firms.
• LumiQ – The Canadian-based company offers a native podcast app where engaging conversations with business leaders count as verified CPE or CPD credits. CPAs and accountants can earn credits on their commute, at the gym or walking their dog.
• Knuula – Client Engagement Letters can be time-consuming and difficult to customize. Knuula, based in Frisco, Texas, streamlines the process by enabling firms to easily customize, distribute and manage client engagement letters.
• Caesar Sustainability – The remote-based company offers a comprehensive data collection and management platform to centralize workflows and data storage for ESG reporting
• ESG Trust – The San Francisco-based company’s integrated data management solution identifies ESG risks opportunities, measures standards, and maps stakeholders to the value chain, streamlining ESG information gathering and collaboration.
• GoodLab – Based in San Francisco, the company’s ESG performance management and compliance software enables organizations to transform their ESG data reporting engine to deliver actionable insights and data to management, investors and customers.
• Sustain Life – The company’s SaaS platform helps companies across industries reduce their environmental impact by providing ESG tools that enable the measurement and management of their carbon emissions.
• Standard Carbon – Carbon is the newest asset class in ESG reporting but has yet to be recognized on the balance sheet. Standard Carbon, based in Winnipeg, Canada, aims to change that by leveraging AI to deliver transparent, carbon offset assurance statements.

How do these companies fit into the accounting ecosystem?

AuditMiner, Once Accounting, Knuula and FieldGuide provide solutions that help accountants work more efficiently, accurately, and effectively. LumiQ allows CPAs a unique way to consume content for CPE or CPD: podcasts.

With growing customer demand for sustainability, Environment, Social and Governance measures (known in short as ESG) there is tremendous opportunity for accounting and finance professionals to lead the way. Fostering innovation in the ESG space, the 2022 Startup Accelerator features a second cohort of ESG-focused solutions. Caesar Sustainability, ESG Trust, GoodLab, Sustain Life and Standard Carbon all contribute to the accounting ecosystem in supporting, reporting on and tracking ESG initiatives.

To learn more about the AICPA & CPA.com Startup Accelerator program, view this LinkedIn Live video or visit cpa.com/accelerator.

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