.CPA Will Enhance Trust and Branding of Profession in the Digital World

LAS VEGAS (June 10, 2019) –The American Institute of CPAs is in the process of being awarded the .cpa domain and is currently in a contract execution phase with the Internet’s global governing body, the Internet Corporation for Assigned Names and Numbers (ICANN). The AICPA’s role in administering .cpa will provide a defined global domain for CPAs worldwide to connect with their clients with increased trust, security, and verification.

The Internet, like most things, is evolving. ICANN is charged with developing important future drivers for connection in the digital world. As part of this mission, it has expanded the top-level domain structure to aid navigation on the Internet and support trusted and value-based entities and communities. To supplement traditional top-level domains such as .com, .edu and .org, ICANN has approved more than 1,200 specialized domain extensions – including Amazon’s .aws, Google’s launch of .app, as well as those for other well-known businesses, governments, and institutions, such as .vanguard, .barclays, .kpmg, .mlb, and .nyc.

“By overseeing the .cpa domain in collaboration with other global CPA organizations, the AICPA can help promote CPAs’ visibility and protect their professional standing online,” said Barry Melancon, CPA, CGMA, the president and CEO of the AICPA. “We also want the public to have confidence that someone using a .cpa domain address for email or a website is affiliated with the CPA profession.”

The new domain extension will be available to CPAs and their firms and will signal a clear connection to the profession. For example, Firm Name, LLC, could have a website address of www.firmname.cpa. Jane Smith, an employee at that firm, could have an email address of jsmith@firmname.cpa.

“Today, there’s a lack of authentication and growing mistrust of online information,” said Erik Asgeirsson, president and CEO of CPA.com, the AICPA’s technology subsidiary. “This is why many leading companies and communities, such as Amazon, KPMG, and the banking industry are moving to restricted top-level domains. We’re looking forward to bringing this important new capability to the profession.”

More details on registering a domain name will be available later this year. For additional information and the opportunity to sign up for notifications, please visit https://domains.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 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.

NEW YORK (Feb. 20, 2019) – OnPoint PCR, a smart, cloud-based solution that transforms how CPA firms conduct preparation, compilation and review engagements, has been named a 2019 Top New Product by Accounting Today, a leading trade publication for the profession.

OnPoint PCR, which launched last summer, was selected as a winner in the “attest tools” category. Jointly developed by CPA.com, the American Institute of CPAs and CaseWare International, OnPoint PCR integrates content and methodology into a leading cloud platform, allowing firms to enhance engagement quality while being more productive.

“The audit profession is on the brink of a major change,” Accounting Today’s editors wrote. “The American Institute of CPAs is anticipating and precipitating this sea change with the launch of an initiative to create a new audit process dubbed the Dynamic Audit Solution. OnPoint PCR, which it created in partnership with its technology arm, CPA.com, and CaseWare, is part of this movement toward a new kind of audit — and one that will benefit the thousands of smaller firms that may not perform public company audits but are still involved in attest work.”

In addition to being recognized as a top new product by Accounting Today, OnPoint PCR was a recipient of CPA Practice Advisor’s 2018 Tax & Accounting Technology Innovation Award last year. This is the second time a CPA.com-affiliated solution has won both awards. In 2016, RIVIO Clearinghouse, a secure online hub for private company financial information that was jointly developed by CPA.com and Confirmation.com, was a dual winner.

“Technology is transforming accounting and auditing to the point where we are beginning to see a convergence of the compliance and advisory functions—the blending of trust and insight. OnPoint PCR is a prime example of this convergence,” said Erik Asgeirsson, president and CEO of CPA.com. “Today, firms are struggling with properly setting the size and scope of engagements. OnPoint PCR combines technology and an innovative approach to solve this, while also providing detailed documentation for engagements.”

To learn more about OnPoint PCR, visit cpa.com/onpoint.

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.

3 Early-Stage Companies Selected by the Association of International Certified Professional Accountants and CPA.com

NEW YORK (Feb. 11, 2019) – Three early-stage financial technology companies have been selected as this year’s winners for a startup accelerator sponsored by the Association of International Certified Professional Accountants (the Association) and CPA.com.

The startup accelerator began almost two years ago with a focus on fintech and educational technology. It is designed to promote innovation in the accounting profession and give the Association and CPA.com more visibility into disruptive trends from emerging technologies. Finalists get a nominal funding investment and guidance from a panel of experts in the profession on marketplace needs.

“The value proposition for these companies is they get access to insights from senior leaders of the Association and CPA.com, as well as a panel of distinguished advisors with deep ties to the accounting profession,” said Lawson Carmichael, chief operating officer of the Association. “And for us, the program keeps us connected to front-line innovation.”

This year’s finalists are:

• Gappify – A San Francisco company that uses bot technology – dubbed ‘Alan’ – to automate time-consuming, repetitive tasks for corporate accounting teams in such areas as accounts receivable, accounts payable and general ledger.
• Client Hub – The Gainesville, Fla.-based startup provides a modern communications platform for accountants and clients through an all-in-one workspace and mobile app, eliminating the need for clunky email conversations and easing the delivery of critical data.
• Dryrun – A Canadian startup that simplifies forecasting of cash flow, one of the most critical pieces of information for small businesses.

Each finalist will be given the opportunity to present information about their company in June at AICPA ENGAGE, one of the leading events devoted to public accounting in the United States.

“Early-stage technology companies are driving great innovation and new capabilities for the CPA profession,” said Erik Asgeirsson, president and CEO of CPA.com, the technology subsidiary of the American Institute of CPAs. “We got great feedback from our first class of companies last year, and we expect to build on our progress with this current group of innovative startups.”

For more information about the startup accelerator, please visit aicpa-cima.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 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 667,000 members and students across 184 counties 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.

Ease of Use, Efficiency and Confidence in Proper Documentation Seen as Key Elements of Preparation, Compilation and Review Engagement Solution

NATIONAL HARBOR, Md. (Dec. 4, 2018)

– Early-adopter CPA firms are confirming the effectiveness and value of OnPoint PCR, a smart, cloud-based solution that transforms how CPA firms conduct preparation, compilation and review engagements.

Launched this past summer, OnPoint PCR was jointly developed by CPA.com, the American Institute of CPAs (AICPA) and CaseWare International Inc. By integrating content and methodology into a leading cloud platform, OnPoint PCR allows firms to enhance engagement quality while being more productive.

The dynamic solution eliminates unnecessary steps and offers tailored, intelligent guidance for everything from drafting a customized engagement letter and report to documenting specific procedures.

"I have been using super-long checklists for years, and it is a lot of work to pare down those guides into what's relevant for my practice," said Jennifer J. Mansfield, CPA, a sole practitioner based in Tucson, Ariz. "That’s why the minute I saw the OnPoint PCR solution, I knew it would be a game-changer for me."

The solution takes aim at the pain points where firms are struggling the most:

• Guidance is built in to enhance practitioners’ professional judgment and help them avoid common pitfalls, giving them the tools and confidence to get their work done.
• OnPoint PCR’s checklists are active and dynamic, working behind the scenes as practitioners move through the process, showing only relevant procedures and requirements based upon the information provided.
• Requests for client information are embedded directly into the solution, making it simple to get the right data at the right time as part of a natural workflow.
• Integrated content and methodology reduces anxiety for firms that recognize they are overworking engagements but still fear being non-compliant.
• Direct imports of popular online client accounting products, such as QuickBooks and Xero, give firms access to what they need without requiring clients to export trial balance data in advance.

"The first thing that caught my eye with OnPoint PCR is how you can fill out the engagement acceptance form, and it completes your engagement letter and representation letter for you automatically," said Amanda VanKleeck, CPA, quality control director of Varney & Associates, CPAs, LLC, of Manhattan, Kan. "It takes the extra step out of manually reconciling the checklists and the letters. You really put in less effort to get the work done."

Content is automatically updated as standards evolve, giving practitioners more confidence and peace of mind that they are in compliance. "Firms often talk to me about the anxiety of keeping up with standards," said Carl Peterson, the AICPA’s vice president of small firm interests. "With OnPoint PCR, you’re guided with current standards as they change, eliminating excess work. That should help reduce anxiety and increase the firm’s bottom line."

OnPoint PCR was a recipient of CPA Practice Advisor’s 2018 Tax & Accounting Technology Innovation Award earlier this year. For more information about the solution, please visit cpa.com/onpoint.

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.

Clearinghouse Continues to Gain Traction with CPA Firms

NATIONAL HARBOR, Md. (Dec. 4, 2018) – Almost one-in-five of the top 100 accounting firms are now using RIVIO Clearinghouse, a private financial company information exchange developed by CPA.com and Confirmation. And with more uses for the platform being developed beyond the secure delivery of financial statements, RIVIO is increasingly serving as a centralized, streamlined distribution hub for firms of all sizes.

With the number of public companies declining sharply since the 1990s and more than $1.8 trillion in private capital raised in 2017, the marketplace is embracing RIVIO as a means to create transparency and trust in key financial data. The secure platform ensures that lenders, investors and other authorized users can obtain access to financial statements and other key documents from validated CPA firms, all delivered unaltered by management.

"We continue to see the application of RIVIO for multiple uses across the firm and business landscape," said Erik Asgeirsson, president and CEO of CPA.com. "With the digitization of financial data and the emergence of a new family of assurance services beyond financial reporting, RIVIO has great value as a differentiator for firms and a robust, secure connection point to clients. It’s efficient, easy to use and fills a critical marketplace need."

RIVIO is driving value for CPA firms in three key areas:

Efficient digital workflow

RIVIO creates a centralized delivery hub that allows accountants to quickly select documents, create projects, and route reports securely to clients. It standardizes the report assembly and issuance process, giving CPA firms more control while improving efficiency. Critical alerts and notifications are automated – if a firm updates or withdraws a financial report, for example, the platform automatically notifies each recipient of the document.

Fraud prevention

An alleged $10 million financing fraud this past fall involving the parent company of Newsweek and several related entities offers another proof of concept for the solution. The alleged scheme revolved around the creation of a fictitious auditor – if the lenders had required receipt of the financial statements through RIVIO, the fraud could not have occurred. “This was a high-profile case but there are many similar frauds out there that don’t get the same media coverage, so it’s more common than you think,” said Brian Fox, president and founder of Confirmation

Enhancing advisory services

RIVIO is providing value for other uses beyond the distribution of audited financial statements. In the assurance category, for example, Systems and Organization Controls (SOC) examinations are in high demand for CPA firms and their clients. SOC reports are sophisticated reviews of a company’s internal controls over financial reporting, processes and cyber-readiness, among other areas, and help demonstrate that a potential vendor or business partner is taking the necessary steps to protect data privacy and availability and the integrity of their systems. Most variations of the reports are not public, however, and in fact require non-disclosure agreements (NDAs) from parties who wish to view them. New one-click functionality permits authorized users to sign the confidentiality agreements and gain immediate access to a SOC report, a streamlined process that gives clients maximum control and still creates documentation at each step.

To learn more about the clearinghouse and its applications, please visit RIVIO.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 Confirmation

Confirmation is the digital platform and global network trusted by audit firms, banks, law firms, and credit managers to quickly and securely verify financial data. Founded in 2000, Confirmation invented electronic confirmations and reshaped and modernized the audit confirmation process. Today, Confirmation helps nearly 1 million clients across 160 countries confirm more than $1 trillion in financial data every year. Learn more at Confirmation.com.