Licensed CPAs and CPA Firms in Ireland Can Now Apply for Their Preferred Domains on a First-Come, First-Served Basis

NEW YORK (Dec. 14, 2022) - CPAs and CPA firms in Ireland can today apply for .cpa web domains to enhance their brand positioning in the digital world and promote greater trust and security with clients in online communications.

The restricted .cpa web domain, administered by the American Institute of CPAs (AICPA), the world’s largest member organization representing the CPA profession, and its business and technology arm, CPA.com, officially launched in Ireland today. CPAs and CPA firms must be licensed to be eligible for a .cpa domain, and domain names will be awarded on a first-come, first-served basis.

.CPA is specialty top-level domain, a term that refers to the handful of letters at the end of a web address. It was first launched by the AICPA in the United States in 2020, followed by Canada in 2021. To date, thousands of U.S. and Canadian CPAs and firms, ranging from sole practitioners to a majority of the top 500 U.S. accounting firms, have registered their preferred .cpa domains.

Many firms have been strategic in the names they’ve pursued, securing shorter, more relevant .cpa domains that best suit their brand, rather than settling for whatever remaining .com addresses are available.

“The .cpa domain offers firms a practical way to enhance their brand and strengthen client trust and security,” said Erik Asgeirsson, president and CEO of CPA.com. “Thousands of firms in the U.S. and Canada have already secured their preferred .cpa domains, and we’re excited to bring this important capability to CPAs in Ireland now and more countries in 2023.”

“We’re thrilled to partner with the AICPA and CPA.com to introduce this important digital tool to our members,” said Eamon Siggins, CEO of CPA Ireland. “This is a great next step after the establishment of our Mutual Recognition Agreement with the AICPA, and we believe the .cpa domain will be a great asset for our members looking to create a memorable, secure brand.”

The AICPA was awarded ownership and oversight of .cpa in 2019 by the Internet Corporation for Assigned Names and Numbers (ICANN), the non-for-profit organization that oversees the internet’s naming system. CPA.com is responsible for managing the service globally.

“When our third-party vendors or clients are receiving our emails, they know it’s a legit email with .cpa,” says Tracee Buethner, a partner at U.S.-based Widmer Roel PC. “While firm leaders were most excited about the brand development opportunities, the trust and security that came with the adoption of a .cpa domain has been equally important in practice.”

Registration of a .cpa domain also comes with an optional free starter site – a one page, professionally designed website to help firms quickly enhance their digital branding and recognition.

To learn more about .cpa or to apply for a domain, please visit GoIreland.cpa.

About CPA.com

CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus.

Our company’s core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners.

A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession. For more information, visit CPA.com.

About the Association of International Certified Professional Accountants, and AICPA & CIMA

The Association of International Certified Professional Accountants (the Association), representing AICPA & CIMA, advances the global accounting and finance profession through its work on behalf of 696,000 AICPA and CIMA members, students and engaged professionals in 192 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license and specialized credentials, professional education and thought leadership. We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.

The American Institute of CPAs (AICPA), the world’s largest member association representing the CPA profession, sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state and local governments. It also develops and grades the Uniform CPA Examination and builds the pipeline of future talent for the public accounting profession.

The Chartered Institute of Management Accountants (CIMA) is the world’s leading and largest professional body of management accountants. CIMA works closely with employers and sponsors leading-edge research, constantly updating its professional qualification and professional experience requirements to ensure it remains the employer’s choice when recruiting financially trained business leaders.

Firms reported a median growth rate of 16% over the previous year in their CAS practices, and they projected 15% growth in the current year, according to a survey released Tuesday by CPA.com and AICPA & CIMA, together as the Association of International Certified Professional Accountants.

https://www.journalofaccountancy.com/news/2022/dec/cas-practices-report-growth-optimism-future.html

The pace of change in every aspect of the profession is such that it can be difficult to keep up, and the scope of those changes is so broad that it can be difficult to wrap your head around them. Accountants need a whole new set of rubrics to guide their thinking and to help them make sense of what's happening.

https://www.accountingtoday.com/list/7-eye-opening-ideas-for-digital-cpas

• Double-digit growth trend of CAS continues
• Nearly three out of four firms believe their pipelines indicate a strong opportunity for growth
• Net client fees per professional (NCFPP) among Top Performers increased 25%

NEW YORK (Dec. 6, 2022) – Client Advisory Services (CAS) practices reported a median growth rate of 16%, and firms are optimistic about the continued opportunity in this practice area, according to a new survey by CPA.com and the American Institute of CPAs (AICPA). Respondents projected 15% continued growth in the current year, with 72% of All Respondents and 81% of Top Performing firms expressing confidence that their pipeline shows opportunity for continued growth.

CAS has been the fastest growing service area in public accounting and is projected to continue its impressive trajectory, according to the CPA.com & AICPA PCPS Client Advisory Services Benchmark Survey report. The report, which polled a cross-section of U.S. firms with CAS offerings and collected data from calendar year 2021, reflected a continued double-digit growth trend since the survey began tracking benchmark data in 2018. Additionally, net client fees per professional (NCFPP) increased to $231,217 for Top Performers (compared to $185,000 in 2020), suggesting more leverage among CAS practices and increasing use of automation capabilities.

The survey also indicated CAS practices are continuing to use technology to innovate and embrace new business models to maximize value for staff and clients. This year's report identified an emerging trend related to the business model with more than a quarter (26%) of All Respondents and 33% of Top Performers outsourcing bookkeeping services, freeing up staff to focus on higher value client work.

“For more than a decade, we’ve recognized the potential of client advisory services to help CPA firms provide more value for clients through expanded offerings,” said Erik Asgeirsson, president and CEO, CPA.com. “Today, firms that have been intentional and strategic in their approach to building and scaling their CAS practice are thriving and poised for continued growth.”

The AICPA and CPA.com define CAS as Client Advisory Services, a practice to help clients outsource their accounting needs with services spanning a spectrum of financial, accounting, and advisory-related offerings. The vision of CAS is to provide higher value to clients and deepen the trusted advisor relationship, allowing clients to focus on their core competencies and deliver on their value proposition to customers. CAS offerings are enabled by technology and processes that deliver timely data and provide clients with deeper business insights to inform strategy and decision-making. While basic compliance work and operational services are foundational to CAS, continuous business planning and advisory discussions supported by financial and non-financial data, delivered through industry-specific KPIs, is fundamental to the differentiation and success of this service in the accounting profession.

The survey offers numerous insights about the evolution of CAS offerings and opportunities for future growth. Some of the takeaways include:

• Dedicate staff. Focusing team members on the CAS practice will enable them to develop into experienced CAS contributors faster and likely produce more consistent and higher quality work. Among Top Performers, 57% report having staff dedicated only to client advisory services.
• Use technologies to drive efficiencies. Workflow tools, data analytics and budgeting and forecasting tools have remained popular to help CAS practices enhance service delivery. Continue to explore opportunities to implement artificial intelligence and robotic process automation to further expand a firm’s capacity for higher level work.
• Standardize processes. Standardization enables team members to serve multiple clients without having to learn or employ new tools or procedures for each one. More than 70% of respondents report using a workflow tool to track and route engagements, a best practice that enables standardization.
• Raise fees to reflect the value provided. Pricing strategies should reflect the added value, demand for services and scarcity of resources delivered through CAS. If firms are using existing hourly rates as the basis for fees, or closing new clients at a high rate, they are likely underpricing. Higher fees will better represent the work being done and lower stress on fast-growing practices.
• Explore creative staffing and capacity-building measures. Explore offshoring, outsourcing, contract workers, non-accounting graduates, administratively minded service coordinators, and more to address staffing shortages and bring new capabilities into the practice.
• Educate clients and staff on CAS and the value provided. More than two-thirds (69%) of respondents reported misconceptions about CAS practice value as a top hurdle for growth, and 36% say staff don’t understand the value of CAS or confuse it with bookkeeping. CAS leaders need to create their value proposition and keep it at the forefront of all discussions with clients or staff.

CPA.com will hold a free webinar Tuesday, Jan. 17 at 2 p.m. ET to highlight key insights from the survey and offer practical strategies for firms to strengthen and develop their CAS capabilities. The company’s CAS Roadmap, CAS Client Assessment and CAS Financial Planning & Analysis workshops, CAS Firm Self-Assessment, whitepapers and other resources are also available for firms looking to start or expand a CAS practice. To learn more, please visit cpa.com/client-advisory-services.

Methodology

The CAS Benchmark Survey was conducted online from June to August 2022 and includes data from calendar year 2021 from 167 CAS practices whose data was complete and valid. Besides general results, the survey analyzes the performance of top CAS practices, defined as those with the highest net client fees per professional (NCFPP).

About CPA.com

CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus.

Our company’s core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners.

A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession. For more information, visit CPA.com.

About the Association of International Certified Professional Accountants, and AICPA & CIMA

The Association of International Certified Professional Accountants (the Association), representing AICPA & CIMA, advances the global accounting and finance profession through its work on behalf of 689,000 AICPA and CIMA members, students and engaged professionals in 196 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license and specialized credentials, professional education and thought leadership. We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.

The American Institute of CPAs (AICPA), the world’s largest member association representing the CPA profession, sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state and local governments. It also develops and grades the Uniform CPA Examination and builds the pipeline of future talent for the public accounting profession.

The Chartered Institute of Management Accountants (CIMA) is the world’s leading and largest professional body of management accountants. CIMA works closely with employers and sponsors leading-edge research, constantly updating its professional qualification and professional experience requirements to ensure it remains the employer’s choice when recruiting financially trained business leaders.

John Pace, CAS leader at GRF CPAs and Advisors, wins top award

NEW YORK (Dec. 5, 2022) – John Pace, CPA, has been named the recipient of CPA.com’s Digital CPA Innovative Practitioner Award, which recognizes individuals who are driving the accounting profession forward through innovative thought leadership, processes, services and technology implementation. Pace successfully used technology and forward-looking practice development strategies to drive advisory services and deliver critical business support to clients.

Pace is the Partner & Director of Outsourced Accounting and Advisory Services at GRF CPAs and Advisors. Since being promoted to lead the firm’s client advisory service (CAS) practice in 2017, Pace has led a transformation that has grown the CAS practice from $3 million to $8.5 million in gross revenue. Along the way, he has built a culture that is flexible, consultative, and fully remote, encouraging time off and working hours that create a healthy work-life balance. This people-first approach has helped shield GRF’s CAS practice from the recruitment and retention challenges many other firms have encountered in recent years.

“While John is a great proponent of shifting business models, value-based pricing and technology implementation, it’s his focus on people that is enabling true transformation and maximizing value for his staff and his clients,” said Erik Asgeirsson, president and CEO of CPA.com. “His innovative approach to empowering, developing and creating balance for his team not only enables them to better serve clients, it creates a key competitive advantage for attracting next generation talent.”

Hannah Smolinski, president of Clara CFO Group, and Steve Chaney, founder and CEO of Chaney & Associates, were both named runners-up.

Smolinski, President of Clara CFO Group, created more than 100 videos when the pandemic struck in 2020 to provide education and guidance to small business owners who needed assistance from the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) programs.

Chaney, founder and CEO of Chaney & Associates, uses cloud-based solutions for GL, bill payment, spend management, payroll and more to close the books each week for clients. By relying on automation and shifting pre-accounting work to clients, his 20-person team is able to serve more than 1000 clients.

“All of the practitioners recognized this year have demonstrated the practical impact of embracing new technologies and innovative business models to deliver a higher level of service to their clients and grow their businesses,” said Kacee Johnson, CPA.com’s vice president – Strategy & Innovation. “For practitioners at firms of all sizes, these leaders are showing the way forward as our profession rises to meet new challenges and opportunities.”

Pace, along with those receiving runner-up and honorable mention awards, will be recognized onstage at Digital CPA, CPA.com’s annual conference for practitioners focused on technology and its impact on the accounting landscape.

To find out more about what sets this year’s nominees apart, and to see the full list of winners including honorable mentions, please visit CPA.com’s Digital CPA Innovative Practitioner Award page. For innovative tools and ideas that can help firms deliver even more value to clients, visit CPA.com.

About CPA.com

CPA.com brings innovative solutions to the accounting profession, either in partnership with leading providers or directly through its own development. The company has established itself as a thought leader on emerging technologies and as the trusted business advisor to practitioners in the United States, with a growing global focus.

Our company’s core mission is to drive the transformation of practice areas, advance the technology ecosystem for the profession, and lead technology research and innovation efforts for practitioners.

A subsidiary of the American Institute of CPAs, the company is also part of the Association of International Certified Professional Accountants, the world’s most influential organization representing the profession. For more information, visit CPA.com.