CaseWare Expands Management Team, Names Matt Dodds New CEO

Wainman Remains in Executive Chairman Role Responsible for Innovation

TORONTO (July 14, 2020) – CaseWare International Inc. today reinforced its defining commitment to innovation in audit and accounting technology by naming veteran software executive Matt Dodds its new Chief Executive Officer. The move is part of a broader management expansion for the leading global provider of cloud-enabled audit, financial reporting and data analytics solutions.

Dodds had previously served as General Manager of CaseWare IDEA, a data analytics software division of the parent firm. Dwight Wainman, CaseWare’s founder, president and CEO for the past 32 years, will become executive chair and focus on the company’s global innovation initiatives, including the Dynamic Audit Solution (DAS), an audit-of-the-future project being developed with the American Institute of CPAs (AICPA), CPA.com and leading CPA firms.

“The accounting profession is at an inflection point, with significant changes coming to audit and assurance practices due to technology and new methodologies,” Wainman said. “CaseWare is a significant part of this evolving story, and our work with AICPA is fundamental to this transformation. Matt has distinguished himself at CaseWare IDEA and I’m confident he will drive the day-to-day management of the company as I shift my focus entirely to work on driving innovation and transformative change.”

“We’re excited that this change allows Dwight to focus solely on innovation and advancing our joint effort with firms around DAS,” added Susan Coffey, the AICPA’s Executive Vice President, Public Practice.

Dodds brings diverse experience in technology to his new role as CEO. The Cambridge University-educated engineer served as COO of Jibestream and held various leadership positions at Volaris Group, a division of Constellation Software, before joining CaseWare IDEA in 2017 as General Manager. “Matt’s promotion to CEO shows the deep bench strength at CaseWare and positions the company well for what will be a transformative period for the accounting profession,” according to Erik Asgeirsson, President and CEO of CPA.com, the business and technology arm of the AICPA.

“I am honoured to take on this role and to help build on the pioneering audit, financial reporting and data analytics solutions CaseWare has delivered to global markets over the past 30 years,” Dodds explained. “But more importantly, I’m excited to bring all of our capabilities together within one unified cloud platform, transforming CaseWare into a cloud-first business.”

CaseWare Head of Business Development Ross Hampton, who plays a critical role working closely with the AICPA and CPA.com, brings over 20 years of experience in the information technology and financial services industry to the CaseWare team and will continue to lead its activities in the U.S. market.

As this transition takes place, CaseWare is reassuring staff and global customers that there are no other changes to day-to-day operations at this time, and that this decision signals a renewed commitment to the company’s founding principles of innovation, a high standard of excellence, and compliance for firms worldwide.

About CaseWare

CaseWare International Inc. is the leading global provider of cloud enabled audit, financial reporting and data analytics solutions. With efficiency, quality and value in mind, CaseWare provides cutting-edge technology to accounting firms, businesses and government entities. Over 400,000 users, in 130 countries and in 16 languages, use CaseWare solutions.

Article source:

CPA.com

Jul 14, 2020

Press Releases

AICPA and CPA.com Launch OnPoint EBP on CaseWare Cloud Platform

Cloud Solution Transforms Process for “Limited Scope” Audits of Employee Benefit Plans

NEW YORK (June 25, 2020) — The American Institute of CPAs (AICPA), CPA.com and CaseWare International Inc. today announced the launch of OnPoint EBP, a cloud solution designed to facilitate the efficient and effective performance of “limited scope” employee benefit plan audits.

OnPoint EBP is powered by the CaseWare Cloud platform and designed for audits of employee benefit plans pursuant to ERISA Section 103 (a)(3)(C). It combines AICPA-developed methodology, engagement management, analytics, advanced client collaboration tools and links to authoritative guidance within a single application.

“The tools many auditors rely on today for employee benefit plan audits are inefficient, requiring manual data entry, redundant processes and outdated, on-premise technology,” said Erik Asgeirsson, president and CEO of CPA.com, the business and technology arm of the AICPA. “We’ve seen how modern, cloud-based solutions have transformed client accounting services, and OnPoint EBP brings many of the same elements of efficiency and quality to limited scope EBP audits.”

Technology and evolving standards are transforming the way audits are being conducted. The AICPA has been a leader in this area, particularly in its work to define and develop the audit of the future through projects such as the Dynamic Audit Solution (DAS). The AICPA has committed significant resources over the last six years to promote and improve the quality of audit engagements through the Enhancing Audit Quality initiative, a data-driven program to improve auditors’ performance through guidance, peer review and other measures.

“This is one more step in our evolution of resources to support firms in their performance of quality services,” said Sue Coffey, CPA, CGMA, the AICPA’s executive vice president of public practice. “Technology will never eliminate the need for a CPA’s professional judgment and expertise in audits. But equipping auditors with the best tools can help facilitate greater quality and provide better insights during their engagements. That’s been one of the guiding principles behind our efforts in this area.”

There are close to 84,000 employee benefit plan audits conducted in the United States each year, almost 70 percent of which are limited scope audits. Of the 5,000 CPA firms that perform EBP audits, a little more than half do four or fewer engagements each year.

Employee benefit plan features can vary widely. OnPoint EBP drives quality and efficiency through its unique Plan Profile, which functions as a powerful scoping tool to identify specific features and nuances of the plan under audit. Among other advantages, the tool:

Improves auditor understanding of the employee benefit plan and its provisions
Provides a guided approach to risk identification and assessment
Integrates diagnostics to indicate when an auditor’s response warrants additional consideration or when someone chooses a non-standard path
Automates drafting of financial statements and note disclosures as a permissible nonattest service
Streamlines audit processes with dynamic content and workflow
Facilitates collaboration with the client and engagement team

OnPoint EBP is commercially available to all firms through CPA.com and may be used for ERISA limited scope audits both currently and after the adoption of SAS 136 Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA.

For more information on OnPoint EBP, including a product overview, key benefits, pricing and training, visit cpa.com/onpoint-ebp.

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 American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 431,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, and federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the profession.

About CaseWare

CaseWare International Inc. is the leading global provider of cloud enabled audit, financial reporting and data analytics solutions. With efficiency, quality and value in mind, CaseWare provides cutting-edge technology to accounting firms, businesses and government entities. Over 400,000 users, in 130 countries and in 16 languages, use CaseWare solutions.

Article source:

CPA.com

Jun 25, 2020

Press Releases

AICPA Coalition Recommends PPP Applicants Use Gross Payroll Approach in Calculations

WASHINGTON, DC (April 4, 2020) – For the calculation of the Average Monthly Payroll cost under the Paycheck Protection Program (PPP), the Gross Payroll approach should be used for the application, according to the recommendation from the AICPA-led small business funding coalition. This recommendation was developed in conjunction with the National Payroll Reporting Consortium (NPRC). It comes after the additional guidelines Treasury and the Small Business Administration (SBA) issued on Thursday.

For the calculation of the Average Monthly Payroll cost, we recommend that payroll providers and CPAs use Gross Payroll based on 2019 data versus Net Payroll (defined as Gross Payroll less federal withholding and employee and employer FICA). Neither the CARES Act nor the recent guidance instructs the PPP applicant to exclude federal withholding, employee and employer FICA for the 2019 period. The Average Monthly Payroll cost includes Gross Payroll and the other defined PPP payroll cost elements such as health care, etc.

“Treasury and the SBA have acted quickly to generate this small business stimulus. As key stakeholders in the implementation of the PPP relief, we are collectively working to drive consistency in the interpretation of the administration’s guidance. Our goal is to help produce an efficient application process to quickly get the funds in the hands of small businesses and their employees,” said Erik Asgeirsson, president and CEO of CPA.com.

Mark Koziel, CPA, CGMA, the AICPA’s executive vice president of firm services, added, “Based upon statements from members of Congress, it appears that the intent of the PPP was to base the salary calculation on gross wages with no adjustment for federal taxes. This ensures that payroll tax expenses are not passed on to the small businesses in need. In a program of this magnitude, it’s expected that guidance will evolve and terms will be clarified.”

The AICPA also said that its discussions with Treasury, SBA, banks and payroll processors to address these and other issues are ongoing and that it will keep its members, coalition partners and small businesses updated on the efforts to protect Main Street America.

About the American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 429,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the profession.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Media representatives are invited to visit the AICPA Press Center at https://www.aicpa.org/press.

Article source:

CPA.com

Apr 04, 2020

Press Releases

AICPA-Led Coalition Expands Support for Small Business Funding

Group Urges Fast Distribution of Stimulus Funds Through Payroll Processors

WASHINGTON, D.C. (March 24, 2020) – More than a dozen new members have joined an American Institute of CPAs-led group advocating the use of payroll processors to quickly distribute governmental funds to small businesses so they can meet payroll and avoid layoffs.

The new members are: Alliance Payroll, Asure Software, BenefitMall, CheckWriters, Council for Electronic Revenue Communication Advancement, EmployCo USA, Green Dot, Gusto, OnPay, National Payroll Reporting Consortium, Paycom, Paylocity, PPI Business Services, PrimePay and Thomson Reuters.

They join the existing coalition of the AICPA, Paychex and Intuit and the International Franchise Association. All members have signed the following open letter:

An Open Letter to President Donald J. Trump, Secretary of the Treasury Steven Mnuchin, SBA Administrator Jovita Carranza and Members of Congress

Our nation is taking unprecedented steps to address the current coronavirus pandemic, keep our citizens safe and American workers on the job. Broad governmental proposals for bank loans and direct loans are good steps, and fast action is required. We need to quickly take an additional step to ensure small businesses continue to keep their employees paid.

Small businesses are the heart of the American economy and employ roughly 60 million people. We know the impact that layoffs have on workers’ lives and business operations, so it’s critical we keep as many people on the payroll as possible.

The problem: It takes time to create new processes to distribute funds to small businesses – speed is of the essence here. An efficient and effective process would be to leverage established small business payroll processing that is already in place and can be marshalled immediately to protect jobs and preserve resiliency within the small business sector.

Payroll processors produce approximately 40 percent of all payroll payments in the United States, and their customers are mostly small businesses of 500 employees or less. We urge the federal government to use these existing systems to direct funds to small businesses so they can make payroll and not shut down due to restrictions caused by the pandemic. As policymakers determine how to help those affected during this time of crisis, we encourage the use of payroll processors to provide the payments to those who work at millions of small businesses across the country.

This direct funding of payroll accounts will not solve all the funding problems currently facing small businesses, but it’s a step in the right direction and has numerous benefits. It is a faster and more efficient process that does not require small businesses to get loans, and it ensures employees directly receive money. In addition, small businesses that use this federal funding facility would be required to maintain their workforce, which would dramatically reduce layoffs.

We believe multiple initiatives and tools are required to keep small businesses in operation. The direct payments and loans to small businesses will play an important role, but we recognize these will take weeks to implement. We are also convinced that proposed direct payments to individuals will not prevent small businesses from laying off employees. Small businesses need to make payroll now – the clock is ticking.

As the federal government focuses its attention on America’s economic engine – small businesses and their millions of employees – direct funding of their payroll can help. The payroll processing companies and the 45,000-plus CPA firms in America have long been partners in helping small businesses thrive in good times, and we have a role to play in the grave challenges we face today.

The program would not cover all small business employees, such as gig-economy workers, who would need to be supported through other measures. But we have the expertise and systems in place to help a significant part of the small business sector and its employees, many of whom are hourly workers who are most in need.

We want to help the federal government move quickly and aggressively, as we know that many employees who are laid off will not be rehired immediately. Small businesses will wind down operations, and it will be difficult to cycle back up. The pandemic will pass, but the economic impact will last.

Ensuring we can rebound quickly is essential for the long-term health of our economy.

About the American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 429,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the profession.

About the Association of International Certified Professional Accountants

The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 657,000 members and students across 179 countries and territories in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.

Article source:

CPA.com

Mar 24, 2020

Press Releases

AICPA-Led Coalition Urges Expedited Small Business Funding Via Payroll Processors

AICPA, Paychex, Intuit and IFA Say Speedy Relief Required to Prevent Layoffs Due to Pandemic

WASHINGTON, D.C. (March 22, 2020) – A coalition made up of the American Institute of CPAs (AICPA), the International Franchise Association (IFA) and two leading payroll processing companies, Paychex and Intuit, issued the following open letter to President Donald J. Trump, U.S. Treasury Secretary Steven Mnuchin, Small Business Administrator Jovita Carranza and members of Congress:

Our nation is taking unprecedented steps to address the current coronavirus pandemic, keep our citizens safe and American workers on the job. Broad governmental proposals for bank loans and direct loans are good steps, and fast action is required. We need to quickly take an additional step to ensure small businesses continue to keep their employees paid.

Small businesses are the heart of the American economy and employ roughly 60 million people. We know the impact that layoffs have on workers’ lives and business operations, so it’s critical we keep as many people on the payroll as possible.

The problem: It takes time to create new processes to distribute funds to small businesses – speed is of the essence here. An efficient and effective process would be to leverage established small business payroll processing that is already in place and can be marshalled immediately to protect jobs and preserve resiliency within the small business sector.

Payroll processors produce approximately 40 percent of all payroll payments in the United States, and their customers are mostly small businesses of 500 employees or less. We urge the federal government to use these existing systems to direct funds to small businesses so they can make payroll and not shut down due to restrictions caused by the pandemic. In this scenario, the federal government could set up a central payroll funding account that small business payroll processors could utilize so that millions of small businesses could continue paying workers during this time of crisis.

This direct funding of payroll accounts will not solve all the funding problems currently facing small businesses, but it’s a step in the right direction and has numerous benefits. It is a faster and more efficient process that does not require small businesses to get loans, and it ensures employees directly receive money. In addition, small businesses that use this federal funding facility would be required to maintain their workforce, which would dramatically reduce layoffs.

We believe multiple initiatives and tools are required to keep small businesses in operation. The direct payments and loans to small businesses will play an important role, but we recognize these will take weeks to implement. We are also convinced that proposed direct payments to individuals will not prevent small businesses from laying off employees. Small businesses need to make payroll now – the clock is ticking.

As the federal government focuses its attention on America’s economic engine – small businesses and their millions of employees – direct funding of their payroll can help. The payroll processing companies and the 45,000-plus CPA firms in America have long been partners in helping small businesses thrive in good times, and we have a role to play in the grave challenges we face today.

The program would not cover all small business employees, such as gig-economy workers, who would need to be supported through other measures. But we have the expertise and systems in place to help a significant part of the small business sector and its employees, many of whom are hourly workers who are most in need.

We want to help the federal government move quickly and aggressively, as we know that many employees who are laid off will not be rehired immediately. Small businesses will wind down operations, and it will be difficult to cycle back up. The pandemic will pass, but the economic impact will last. Ensuring we can rebound quickly is essential for the long-term health of our economy.

Sincerely,
Barry C. Melancon, CPA, CGMA
President and CEO
AICPA

Martin Mucci
President and CEO
Paychex

Sasan Goodarzi
CEO
Intuit

Robert Cresanti
President and CEO
International Franchise Association

About the American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 429,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the profession.

About the Association of International Certified Professional Accountants

The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 657,000 members and students across 179 countries and territories in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.

Media Contacts:

Kathy King
AICPA
202.434.9210
kathy.king@aicpa-cima.com

Laura Saxby Lynch
Paychex
585.383.3074
lsaxbylynch@paychex.com

Erin Green
Intuit
650.944.3774
erin_green@intuit.com

Stephen Worley
IFA
202.662.0792
sworley@franchise.org

Article source:

CPA.com

Mar 22, 2020

Press Releases

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CaseWare Expands Management Team, Names Matt Dodds New CEO

AICPA and CPA.com Launch OnPoint EBP on CaseWare Cloud Platform

AICPA Coalition Recommends PPP Applicants Use Gross Payroll Approach in Calculations

AICPA-Led Coalition Expands Support for Small Business Funding

AICPA-Led Coalition Urges Expedited Small Business Funding Via Payroll Processors