Early-stage companies are invited to apply for the AICPA and CPA.com program by Nov. 30

NEW YORK (Aug. 6, 2024) – The American Institute of CPAs (AICPA) and CPA.com are accepting applications for the 2025 Startup Accelerator program, which supports the growth of early-stage companies worldwide to help advance the accounting and finance profession. Startup companies focused on accounting, tax, fintech, regulatory technology, or educational solutions that leverage emerging technologies for accounting and finance teams are encouraged to apply.

Selected applicants will receive access to strategic advice and business insights from program advisory board members, AICPA and CPA.com leaders, and experts with extensive experience across entrepreneurship, technology startups, accounting and finance. Participants will also receive a $25,000 grant and exposure at top events hosted by the AICPA & CIMA and CPA.com.

“The guidance and feedback from the AICPA and CPA.com's advisors, specialists, employees and customers has been invaluable in refining our product, messaging and go-to-market strategies for the US,” said Brendan Roberts, CEO of Aider, a member of the 2024 cohort. “We have formed friendships with the talented cohort of fellow accelerators, and the collaborative environment has accelerated our progress and opened partnerships. I highly recommend this program to any startup looking to scale and succeed in accounting and finance.”

Applications for the 2025 accelerator program are open until Nov. 30, 2024. The chosen cohort will be featured next summer at AICPA & CIMA ENGAGE, the largest U.S.-based conference for CPAs, and at the Digital CPA conference later in the year.

“Technology is the great equalizer that can empower firms and finance teams of all sizes to elevate the quality and value of services delivered,” said Erik Asgeirsson, president and CEO, CPA.com. “We’re excited to welcome the next wave of innovative solutions partners into the 2025 Startup Accelerator program as part of our efforts to enable how finance and accounting teams embrace transformational technologies and strategies to position for ongoing success.”

To be eligible for consideration, companies must meet the following criteria:

• Focus on accounting, tax, fintech, regulatory technology or educational solutions
• Leverage innovative technology such as artificial intelligence in their solution
• A functional product with active users
• Be at seed or pre-Series A stage (some exceptions may apply)

For additional information about the program, please reach out to Vendela Hale at vendela.hale@hq.cpa.com. CPA.com and the AICPA are also hosting a webinar Oct. 3, 2024 at 1 p.m. ET with the startup companies representing the 2024 cohort to discuss emerging technologies and their impact on the accounting profession.

To apply for the 2025 cohort, please visit the accelerator program page at accelerator.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.

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 698,000 AICPA and CIMA members, students and engaged professionals in 188 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.

Firm adoption of transformational platform has grown more than 25% since May as significant enhancements roll out.

New York, NY (July 23, 2024) – CPA.com announced today that firm usage of the Dynamic Audit Solution (DAS) has grown by more than 25% in the last 60 days as new capabilities and industry content further support firms in enhancing the efficiency, quality and client value of their financial statement audits through a risk-focused, data-driven approach.

DAS is part of OnPoint, a comprehensive cloud-based suite of applications built on the Caseware Cloud platform that brings together embedded methodology, engagement management, automated financial statements, data analytics and client collaboration into a single integrated package. Firm adoption of OnPoint, which also includes OnPoint EBP, OnPoint PCR and OnPoint Audit, has been growing steadily with more than 200 firms now using one or more applications.

Powered by a transformative methodology developed by the AICPA, in partnership with audit professionals from leading firms, DAS is the only comprehensive, end-to-end, cloud-based solution on the market built by auditors, for auditors. Firms are actively using DAS today to complete financial statement audits, and the solution is poised for sharp acceleration. Users of the platform continue to recognize DAS as a transformative differentiator in the market, highlighting the value it provides in enhancing the efficiency, quality and client value of audits. DAS features guided workflows, real-time collaboration, and a fully integrated methodology from start to finish to support an enhanced auditor and client experience.

FIRM USAGE

Since its commercial launch in June 2023, DAS adoption has accelerated, and the platform is available for immediate deployment to firms of all sizes. Currently:

• 80% of the firms in the original DAS consortium are either evaluating, planning adoption, or adopting the solution.
• Multiple Top 25 firms are now on the path to full firm migration to DAS by the end of 2025.
• The majority of Top 100 firms outside of the original DAS consortium are also currently evaluating the solution.
• The comprehensive change management and planning tools and services available through CPA.com are being very well-received by firms and helping to drive successful transitions.
• DAS is available to firms of all sizes, and many smaller firms are also evaluating or adopting the solution.
• 3,000+ engagements have been completed through the platform to date.
• There are 5,000+ active licensed seats on the platform (more than 25% increase since May 2024).

CAPABILITY ENHANCEMENTS

Additionally, new features, functionality and content continue to be added to DAS to enhance capabilities and user experience. The most recent release in June 2024 implemented significant enhancements including, but not limited to:

• New industry content. New industry content is being added regularly. Just added were Healthcare for Non-Profit and Commercial Entities, and HUD for Healthcare. This addition enables firms to perform end-to-end audits that incorporate data analytics, financial statements, disclosure checklists, materiality benchmarks, risk indicators and ratio analysis unique to performing audits of healthcare entities.
• Group audit capabilities. The platform now supports multi-level hierarchies and simplifies internal consolidations to make complex audits easier. Additional group audit automations will be released in early 2025.
• Improved user experience. Exciting new enhancements include expansion of the risk library and sampling capabilities, as well as streamlined workflow processes and navigation improvements.

FIRM FEEDBACK

User feedback of the platform has been overwhelmingly positive and offers valuable insights into their unique experiences and benefits of using the platform.

According to Kevin McElgunn, partner at Withum, “Data ingestion, linkage of work papers, seamless data integration, and real-time communication and collaboration tools allow our staff and team members to be able to problem solve and critically think through issues, which creates a more effective and efficient audit.”

Other key themes we hear from firms include:

• Drives audit quality: DAS guides auditors through best practices, automates complex tasks, and flags potential inconsistencies. This helps firms produce high-quality audits, even with less experienced staff.
• Built-in learning and efficiency: DAS features on-screen guidance and prompts, acting as a virtual 'experienced auditor' to guide staff. This speeds up the audit process while simultaneously training the team.
• Powerful automation and diagnostics: DAS automates risk assessment, sampling and other complex areas. It uses built-in diagnostics to catch errors and guide auditors, ensuring thoroughness and accuracy.
• Adapts to firms and industries: DAS is customizable, enabling firms with resources and capabilities to tailor it to their specific needs and industry focuses, making it suitable for a wide range of audit practices. However, DAS also provides a high element of standardization for firms that want to ensure a firmwide discipline and consistency that helps improve audit quality.
• Comprehensive and interconnected: DAS provides in-depth audit guidance that is fully integrated, ensuring that information is consistent and reusable throughout the audit process, thereby reducing errors and enhancing efficiency.
• Implementation support: CPA.com’s robust professional services offerings for implementation training, data migration and change management set firms up for a successful transition to DAS.

LEARN MORE
For more information on DAS for your firm, contact us at cpa.com/das-inquiries.

CPA.com can help firms assess firm readiness and offers comprehensive implementation consulting, training and data and migration services to prepare for a technology-driven shift.

You can also access additional resources, including user testimonials, by visiting the DAS Resource Center.

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. The 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.

Respondents who complete the survey will gain access to in-depth, individualized data to help shape their CAS practice strategies

NEW YORK (May 23, 2024) – CPA.com, the business and technology subsidiary of the American Institute of CPAs (AICPA), is currently accepting responses to its fourth bi-annual Client Advisory Services (CAS) Benchmark Survey, which aims to understand the transformation and growth of the client advisory services practice area.

The survey is open to practitioners and firm leaders offering transactional accounting and bookkeeping through advisory services in the U.S., regardless of firm size.

The 2024 survey will help firms benchmark their successes, identify areas for improvement, and create new goals that drive practice transformation. Participants will receive extensive data to assess how they compare to peer firms and the highest-performing practices in the country. The insight will help CAS practices identify where they are excelling, areas for improvement and key KPIs and benchmarks to apply moving forward.

“We chose to participate in the CAS Benchmark Survey because we needed a way to analyze how we were performing in our CAS practice and measure ourselves against other firms,” said Krista Richardson, Director-Client Accounting Services at Lucas Horsfall Accountants & Advisors, who participated in the 2022 benchmark survey. “The CAS Benchmark Survey taught us that we’re actually a better CAS practice than we ever thought we were. We also learned where other firms were performing better and what we need to aim for. That’s been instrumental in defining the next steps to take.”

Survey responses will be accepted through June 26.

Only survey participants will receive robust, individualized comparison data. A summary of key survey insights will be included in the 2024 CAS Benchmark Survey report that will be released later this year.

For more information or to get started, please visit the CPA.com CAS Benchmark Survey page.
 

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.

Growing excitement from users on power and benefits of transformational tool

New York, NY (May 14, 2024) - CPA.com today shared the latest highlights related to the Dynamic Audit Solution (DAS), a major initiative from the AICPA and CPA.com that targets audit transformation through a comprehensive, end-to-end, cloud-based solution built by auditors, for auditors.

Powered by a transformative methodology developed by the AICPA, and in partnership with audit professionals from leading firms, DAS is enhancing the efficiency, quality, and client value of financial statement audits through a risk-focused, data-driven approach. Built on the Caseware Cloud platform, DAS features guided workflows, real-time collaboration and a fully integrated methodology from start to finish to support an enhanced auditor and client experience.

Launched commercially in June 2023, DAS adoption has accelerated significantly:

FIRM USAGE

• 80% of the DAS stakeholder firms are advancing adoption.
• Multiple Top 25 firms are now in the process of doing full firm migration to DAS.
• DAS is now commercially available for all firms to leverage.
• Many Top 100 and Top 500 firms who were not part of the original stakeholder group are in advanced discussions/evaluations.
• A rollout to a broader cohort of firms is currently underway, beginning with the change management preparation and planning that ensures successful adoption.
• To date, more than 2,500 engagements have been completed in the solution with 4,000+ licensed seats.

FIRM FEEDBACK

Users of the platform are providing valuable insights and perspectives on their experiences with the solution:

Efficiency and efficacy of audits

• “I’m really impressed and feel like DAS helps all auditors connect the dots between the risk and why we do the audit procedures. Some key benefits we’re realizing include:
  • How much time we spend in each audit phase
  • How we manage our resources and schedule audits
  • How often we communicate with clients during the year
  • When review of the audit work occurs

– Sarah Flischel, CPA, Director, AAFCPAs

• “DAS is everything in one. It’s your one-stop shop. It is your document retention platform, it is your methodology, it is your PBC client request. It prepares your financial statements for you and it is your data analytics tool.” – Jen Wood, CPA, Partner & Assurance Leader, Director of Audit Innovation, The Bonadio Group; DAS Architect

Talent attraction, retention and upskilling

• “We are half-way through our planning process and getting used to how it feels to be working in a cloud-based product. Navigating a cloud-based product takes some time to get used to but being able to work from anywhere is ‘great’!” – Sarah Flischel, CPA, Director, AAFCPAs
• “The idea that we can get a 27-year-old without 30 years of experience to start, lead and execute an audit with the tool leading them through all the right steps—as we think about long-term efficiency, I think that’s the real benefit that DAS will give us all.” – Jere Shawver, CPA, Managing Partner, Assurance and Risk, Baker Tilly US, LLP; DAS Early Adopting Firm
• “We’re hiring people straight out of college—they were born with an iPhone. They are used to technology and expect that technology when they walk into firms. Tools like this are what they’re looking for, and it will help attract people, it’ll help retain people. We’ve received just the best feedback from our staff, senior, manager level, saying this tool is modern, it’s nice-looking, I enjoy doing my work and this tool.” – Jessie Kanter, CPA, Partner in Charge of Innovation and Methodology, Citrin Cooperman; DAS Implementation Lead

Greater client value

• It’s really going to change the way that we audit. It's going to allow our people to focus more on the risk, to really focus on what matters to our clients in our audits so that we can perform our audits in a more effective manner. Not focusing on the same things because maybe they're easy. That guided experience really does drive us to focus on the risky areas of the audit. Focus on the things that really matter in order to bring those insights to up-skill our people and make them understand how to more effectively perform an audit. – Jessie Kanter, CPA, Partner in Charge of Innovation and Methodology, Citrin Cooperman; DAS Implementation Lead

INTERESTED IN LEARNING MORE ABOUT DAS FOR YOUR FIRM?

• If you’d like to learn more about DAS, contact us at cpa.com/das-inquiries.
• CPA.com can also help firms assess their readiness and offers comprehensive implementation consulting, training and data and migration services to prepare for a technology-driven shift.

ADDITIONAL RESOURCES

• Video: Early adopter firms share the key benefits of DAS (3 minutes)
• Video: Firm leaders discuss the adoption and roll out of DAS (10 minutes)
• Blog: DAS – Built for auditors by Auditors

Program Fosters Emerging Technologies that Benefit the Accounting and Finance Profession

NEW YORK (March 12, 2024) – Today the American Institute of CPAs (AICPA) and CPA.com announced the participants of its 2024 Startup Accelerator program, which will kick-off this week at a meeting at their headquarters in New York. This year’s participants include seven early-stage companies leveraging artificial intelligence (AI) aimed at creating efficiencies and enhancing value in services across audit, accounting, tax advisory and firm management.

The Startup Accelerator supports the growth of early-stage technology companies benefiting the accounting and finance ecosystem. Selected companies receive focused insights from subject matter experts and firm and finance leaders who are reshaping the profession. They also benefit from strategic intelligence, business acumen and guidance from AICPA and CPA.com senior leaders and the program’s advisory board members. Additionally, selected companies will receive a $25,000 grant and have an opportunity to showcase their solutions at AICPA & CIMA ENGAGE, the premier conference for the accounting and finance profession that will be held in June at the ARIA Resort & Casino in Las Vegas.

“Artificial intelligence is going to play an increasingly strategic role in the world of accounting and finance,” said Kacee Johnson, vice president of Strategy & Innovation at CPA.com. “Our responsibility is to stay ahead of trends in technology so we can identify and foster solution providers with the best potential to meet the changing needs of the profession. The Accelerator program is a great way to stay current with the latest entrants into the ecosystem and connect these providers with CPAs that can put their solutions to work.”

The following technology providers were selected for inclusion in the 2024 cohort:

• Aider delivers compliance efficiencies, while enabling AI-powered advisory at scale for firms.
• Black Ore offers CPAs an AI-powered tax preparation platform designed to automate complex tax returns quickly and accurately, which can reduce burnout and give CPAs more time to focus on client advisory and growing their firms.
• TimeCredit provides AI-powered research and documentation tools for accountants to automate technical memo writing and answer complex questions instantly.
• Laurel utilizes advanced AI to automate timekeeping and address billing complexities for accounting firms, saving timekeepers valuable time and offering unparalleled insights into their operations.
• Digilence offers AI, machine learning, automation and intelligent document processing capabilities to accounting firms through its Digilence Cloud, using a SaaS model.
• Supervizor, an advanced audit analytics software automates financial anomaly detection for continuous error and fraud detection.
• Materia providers an AI-powered intelligent workflow automation platform for public accounting firms that helps improve the efficiency and quality of audits.

This year’s AI-focused cohort is part of a broader Generative AI initiative by CPA.com to support the profession in understanding and harnessing the capabilities of this rapidly expanding technology, including a GenAI toolkit, an AI Symposium and other resources housed at CPA.com/gen-ai.

For more information about the Startup Accelerator, please visit cpa.com/accelerator.

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.