Kalil Merhib, EVP of growth and professional services at CPA.com, was recognized on CPA Practice Advisor’s 2025 “20 Under 40” list, highlighting the emerging leaders making a meaningful impact on the accounting profession through innovation, leadership and influence.
Article source:
CPA.com
Apr 04, 2025
Media Coverage
Clarification of the standard for financial statement preparation engagements helps define the future of CAS practices
NEW YORK (April 1, 2025) – The CAS Advisory Council applauds the American Institute of CPAs’ (AICPA) Accounting and Review Services Committee’s (ARSC) clarification of the applicability of the standard related to financial statement preparation as part of a client advisory services (CAS) engagement. The modernization of the standards reflects the evolution of CAS and will better enable firms to further the shift into higher value advisory services.
"This change represents a new era for CAS practices,” said Becky Munson, partner at Eisner Advisory Group LLC and member of the CAS Advisory Council. “The standards now align more closely with the evolving needs of businesses and the services provided by CAS teams. This will now allow them to truly serve clients while continuing to fulfill their professional obligations. It’s a win for everyone, and we can’t thank the committee enough for their diligence in making these changes."
CPA.com and the Digital CPA community have long focused on driving the CAS opportunity for the accounting profession. In 2023, the CAS Advisory Council formed, composed of CAS practice leaders from firms of all sizes. The Council is focused on creating a framework of best practices for the category and helps enable practitioners in the shift toward higher value advisory services.
“The financial reporting standard clarification is a sea change for how client advisory services will be managed going forward,” said Erik Asgeirsson, president and CEO, CPA.com. “Outsourced accounting services have evolved considerably beyond the preparation of a financial statement—today’s modern CAS practice delivers state of the art cloud accounting capabilities with dashboards and business insights which appropriately will now fall under the consulting service and advisory area of firms.”
While CAS remains one of the fastest growing practice areas in the profession, there’s potential for firms to deliver deeper business insights. This relies on a combination of financial and non-financial inputs to allow firms to provide strategic support around business transformation, industry-specific problems and high-level strategic financial planning and analysis.
According to the recent CPA.com and AICPA PCPS CAS Benchmark Survey report, close to one-third of firms reported growth of their CAS revenues from business insights or bundles containing business insights services. And all respondents project a decrease over the next three years in services that do not qualify as CAS, such as single-service financial statement preparation. This move is fueled by client demand for deeper insights, and CPAs are well positioned to fill this need.
“The modernization of standards reflects the reality of what is already happening within CAS practices today,” said Bill Reeb, CEO of Succession Institute and past chair of the Consulting Services Executive Committee.
Sharon Berman, principal at Rehmann, agreed: “This change will streamline CAS practices and allow them to more efficiently serve the evolving needs of clients."
Firms are already looking forward to the next phase of implementation. From the DCPA Conference keynote stage last December, Angie MacPhee, managing principal of consulting and advisory services at Baker Tilly, noted how her firm will be approaching the delivery of financial statements under CAS: “We are putting it under the consulting standards. While we’ll maintain very high quality, we’re excited to organize this way.”
In the coming weeks, CPA.com will release additional resources to help firms determine how this clarification and modernization of standards helps them move forward into business insights CAS, including an FAQ, video discussions, engagement letter templates, and more. In the meantime, access the following for more information:
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.
Article source:
CPA.com
Apr 01, 2025
Press Releases
CPA.com plans to release a number of resources — including a FAQ, video discussions, engagement letter templates, and more — in the near future to help firms figure out what, exactly, the clarification means for their CAS practices.
Article source: https://www.accountingtoday.com/news/aicpa-clarifies-standard-on-cas-statement-preparation
Article source:
CPA.com
Mar 31, 2025
Media Coverage
Profession leaders and innovators convene to examine the AI landscape, practical use cases and considerations for responsible AI adoption.
NEW YORK (March 26, 2025) – Leaders across accounting, finance and technology gathered today at the 2nd annual AICPA and CPA.com AI Symposium to explore the evolving role of artificial intelligence in the accounting profession. The event serves as a platform to deepen knowledge into AI’s real and potential impact and share strategies to maximize its potential to transform practice areas.
Hosted by the American Institute of CPAs (AICPA) and its business and technology subsidiary, CPA.com, the event brought together more than 70 firm and finance leaders, standard setters, thought leaders, AI solution providers and technologists to examine the current AI landscape, opportunities for the profession, and risks and considerations for effective implementation.
"AI is a catalyst that provides unprecedented opportunity for firms and finance teams to enhance their role as trusted advisors," said Erik Asgeirsson, CPA.com president and CEO. “The symposium is unique because it brings together so many diverse perspectives within the accounting and finance ecosystem to help paint a complete picture on the potential impact of AI and status of adoption.”
The AI Symposium explores key areas of leadership and focus, from the current AI landscape and political climate to practical applications within tax, audit, finance and advisory. CPA.com will release an update highlighting key themes and takeaways from the event sessions, which include:
Resources to support accounting and finance professionals
The AI Symposium is part of the AICPA and CPA.com’s ongoing efforts to deliver education, tools and resources to help accounting and finance professionals build their understanding of AI and the potential impact on their practices during this time of rapid change, including:
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 AICPA & CIMA, together as the Association of International Certified Professional Accountants
AICPA & CIMA, together as the Association of International Certified Professional Accountants (the Association), advance the global accounting and finance profession through our work on behalf of 597,000 AICPA and CIMA members, candidates and registrants in 188 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license, the CGMA designation and specialized credentials, professional education and thought leadership. We build trust by empowering our members, candidates and registrants with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.
Article source:
CPA.com
Mar 26, 2025
Press Releases
Program Fosters Emerging Technology Innovation in Accounting and Finance
NEW YORK (March 11, 2025) – Today the American Institute of CPAs (AICPA) and CPA.com announced the latest participants of its annual Startup Accelerator program, which supports the growth of early-stage technology companies benefiting the accounting and finance ecosystem. The 2025 cohort, which kicks off this week at the companies’ headquarters in New York, includes six startup companies leveraging advanced technologies to drive efficiencies and enhance value across accounting, tax and finance.
Selected companies receive focused insights from subject matter experts and firm and finance leaders who are shaping the profession. Additionally, they benefit from strategic intelligence and coaching from AICPA and CPA.com senior leaders and the program’s advisory board to help their company refine its value proposition, scale and grow. Participants also receive a grant and have an opportunity to showcase their solutions at key profession events throughout the year, including AICPA & CIMA ENGAGE and Digital CPA, the premier conferences for the CPA community.
“Emerging technologies are a key enabler for firms and finance teams looking to evolve practice areas,” said Erik Asgeirsson, president and CEO, CPA.com. “The Startup Accelerator program is pivotal in helping us stay ahead of the fast-evolving technology landscape. Artificial intelligence is proving to be a catalyst for change, representing one of the most significant shifts the profession has seen in years. This program, and the companies it supports, plays a crucial role in connecting CPAs with cutting-edge, tailored solutions that empower firms to meet growing client needs and further expand into higher-value advisory services.”
The following technology providers were selected for the 2025 program:
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 400,000 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. AICPA 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 develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives continuing education to advance the vitality, relevance and quality of the profession.
Article source:
CPA.com
Mar 11, 2025
Press Releases
