News & Releases

CPA.com Announces 2018 Digital CPA Conference Keynote Lineup

Siri Co-Founder, Globalization Expert and Pixar Storyteller to Focus on Technology-Driven Transformation at Dec. 3-5 Event

NEW YORK (Sept. 18, 2018) – Technology is transforming all major practice areas for CPA firms, and finance and accounting professionals who want to learn about trends and opportunities that arise from these changes can gain insight at the 2018 Digital CPA Conference, an event led by the American Institute of CPAs and its technology arm, CPA.com.

This year’s conference will be held just outside Washington, D.C., at the Gaylord National Resort & Convention Center in National Harbor, Md., the site of the original Digital CPA Conference in 2012. The Dec. 3-5 event is organized around the theme “Future Ready,” and includes sessions on the shift to advisory services across all core areas of the CPA firm. The conference will also feature sessions on the impact of the Wayfair decision and new client opportunities around sales-and-use-tax advisory services, auditing in the future, building a digital, integrated tax planning practice, benchmarks for client accounting advisory services, further understanding of the influence of emerging technologies such as blockchain and artificial intelligence, and operational issues such as managing a virtual workforce.

Keynote speakers at the event include:

  • Dag Kittlaus, co-creator of Siri and Viv, who will talk about artificial intelligence from its early development to its as-yet-unrealized potential.
  • Anja Manuel, a founding partner of the high-powered consulting firm RiceHadleyGates, LLC, and author of “The Brave New World: India, China and the United States,” who will discuss the results of the midterm elections, strategic risk, emerging markets and globalization.
  • Matthew Luhn, an accomplished storyteller who, over a 20-year career with Pixar Animation Studios, created memorable characters and storylines for such films as Toy Story and Monsters Inc. He now advises Fortune 500 companies on the creation of narratives to build stronger brands and connect with critical audiences.

In addition to these speakers, Barry C. Melancon, CPA, CGMA, president and CEO of the American Institute of CPAs, will give an update on issues affecting the accounting profession, and Erik Asgeirsson, president and CEO of CPA.com, will give a “state of the union” on Digital CPA trends.

The Digital CPA Conference is designed for CPA firm partners, managers and members of client accounting services teams, staffers responsible for rolling out cloud solutions, and business development, firm marketing and human resources directors within firms.

Reporters interested in covering the event can apply for on-site press credentials or make arrangements for online access to live broadcasts. Members of the media can contact Jeff May, jeffrey.may@aicpa-cima.com, for more details.

For more information about the conference, please visit digitalcpa.com.

About CPA.com

CPA.com is known for bringing 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.

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15th Annual Tax and Accounting Technology Innovation Awards Announced in Los Angeles

The top technologies for tax and accounting professionals were honored on Tuesday at the Los Angeles Convention Center. The 15th annual Technology Innovation Awards were presented by CPA Practice Advisor during a special ceremony at the Accounting & Business Show - LA. The event, held July 25-26, gathered more than 2,000 financial professionals from across the country for accounting and tax education topics and keynote speakers.

The 2018 Innovation Award winners are:

Five Innovation Award Finalists were also recognized by CPA Practice Advisor:

The Tax & Accounting Technology Innovation Awards honor new technologies that help accounting firms and their small business clients operate more efficiently and profitably through improved workflow, increased accessibility, or enhanced collaboration.

“These awards recognize new technologies that can benefit tax and accounting professionals, and their clients” said CPA Practice Advisor Editor-in-Chief Gail Perry, CPA. “As the profession continues to embrace new workflows and processes that optimize the potentials of these technologies, firms are improving their efficiency and focusing their practices on more profitable service offerings that, at the same time, are more beneficial to the small businesses that rely on them for advice and strategy." Perry also manages a tax practice and is the author of more than 30 books, including Mint.com for Dummies, and Idiot's Guide to Introductory Accounting.

CPA Practice Advisor provides a variety of independent digital and print resources for accounting professionals, including practice resources, technology reviews, interactive tools and content that helps firms achieve greater productivity.

In addition to the winners and finalists, more than 40 technology products and services were nominated for this year's Innovation Awards.

Learn more about the Innovation Award winners and finalists in the August issue of CPA Practice Advisor.

Article source: http://www.cpapracticeadvisor.com/news/12421952/2018-tax-and-accounting-technology-innovation-awards-announced-in-los-angeles

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OnPoint PCR Wins 2018 Tax & Accounting Technology Innovation Award

Automated Solution for Preparation, Compilation and Review Engagements Honored by CPA Practice Advisor

NEW YORK (July 26, 2018) – OnPoint PCR, a smart, cloud-based solution that transforms how CPA firms conduct preparation, compilation, and review engagements, was the recipient last night of a 2018 Tax and Accounting Technology Innovation Award from CPA Practice Advisor, a leading publication for the accounting profession.

OnPoint PCR was developed by CPA.com, the American Institute of CPAs and CaseWare International Ltd. It enables intelligent, guided engagements – powered by CaseWare’s cloud platform and informed by AICPA technical guidance – that allow CPA firms to enhance engagement quality, streamline proper documentation, and be more productive.

“Automation is set to transform audit and assurance services, and OnPoint PCR offers a glimpse of the future ahead,” said Erik Asgeirsson, president and CEO of CPA.com. “More than 19,000 U.S. firms are engaged in preparation, compilation and review work, and this solution is an essential tool for providing high-value advisory services to clients in this area.”

According to CPA Practice Advisor, the Tax & Accounting Technology Innovation Award is meant to recognize “outside-the-box thinking in product development, breakthrough technologies, state-of-the-art design and implementation, and cutting-edge concepts that help accounting professionals and their clients be more productive and profitable.”

“I’m so pleased our panel of judges chose to include OnPoint PCR as one of this year’s Tax and Accounting Technology Innovation Award winners,” said Gail Perry, editor-in-chief of CPA Practice Advisor. “These prestigious awards recognize the products that are changing the way accountants do business, and OnPoint is a shining example of just that.”

The award was presented at the California Accounting & Finance Show in Los Angeles.

“We’re honored to receive this prestigious award,” said Dwight Wainman, CEO of CaseWare. “It’s a strong endorsement of the significant impact OnPoint PCR will have on this practice area for CPA firms.”

For more information about OnPoint PCR, please visit CPA.com/OnPoint.

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.

About CPA.com

CPA.com is known for bringing 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.

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What’s the Future for Financial Statements in the Digital World?

Audited financial statements are a key underpinning of our financial markets. But are they still relevant in a digital world in which reams of information can be synthesized and analyzed for insight?

Analysts, advisors, portfolio managers and others who evaluate companies’ financial conditions for a living think so. A survey last year by the Center for Audit Quality found that, when it comes to public companies, nearly eight out of 10 retail investors say they are confident in audited financial information when they make investing decisions.

Management and company board members feel much the same way. A 2017 Deloitte survey found that almost eight out of 10 C-suite executives agree that audited financial statements “reveal things that their companies could be doing differently or better.” The percentage is even higher (91 percent) for board members who sit on the audit committee.

The process of auditing financial statements is also increasingly leveraging enhanced access to data and analytical capabilities to the benefit of clients. Deloitte found that audit insights – from the effectiveness of a company’s business processes to spending patterns and potential improvements in operations – often translate into higher growth for companies. Companies that routinely acted on audit insights were 47 percent more likely to achieve what their leaders considered “great” growth in the past three to five years, the survey found.

It’s clear business decision-makers, analysts and investors continue to see value in audited financial statements, as well as in other CPA engagements such as compilation and review. But another key component of relevancy is keeping pace with how information is exchanged in a digital world. In today’s environment, information that isn’t easily obtainable is less valuable and less actionable, no matter what insights it may hold.

In many ways, the availability of digital financial statements has been a tale of two cities. On the public company side, the SEC’s EDGAR platform has long offered a central hub for financial statements and other information in digital format, and there are other online databases with complementary information. Yet fewer companies, particularly small ones, are going public. The Wall Street Journal noted this trend last year with an illuminating statistic: in 1996, there were 557 initial public offerings that raised less than $50 million; in 2016, there were only 18 IPOs of similar size.

On the private company side, information is far less accessible and centralized than public company data, but some strides have been made. We developed with Confirmation.com an online clearinghouse for private financial information that creates a secure, flexible exchange for audited financial statements and other CPA- provided documents. The RIVIO Clearinghouse platform ensures that lenders, investors and other authorized recipients can get an unaltered audit report prepared by a legitimate CPA firm, reducing the risk of fraud, misrepresentation or error. And across the profession, other digital innovations are under development to ensure that the audit can deliver more valuable insights.

Business is moving to digital processes and eliminating pain points from paper transactions at a rapid pace. But the shift to digital isn’t just about removing bottlenecks – it’s about expanding the capabilities we can bring to analyzing and presenting data. In that way, the shift to digital is helping to ensure the relevancy of financial statements now and into the future.

Article source: http://www.cpapracticeadvisor.com/news/12418248/whats-the-future-for-financial-statements-in-the-digital-world

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CPA.com and Vertex Offer Insight on Impact of Supreme Court Ruling on Online Sales Tax

Two July 10 Webcasts Explore Implications of Wayfair Decision for CPA Firms and Their Clients

NEW YORK (June 25, 2018) – CPA.com and its preferred provider of sales and use tax solutions, Vertex, are offering a pair of July 10 webcasts on the impact of the Supreme Court’s major ruling Thursday on state collection of sales tax for online retailers.

In South Dakota v. Wayfair, Inc., the Supreme Court held that e-commerce companies can be required to collect sales tax, even in states where they have no physical presence. Brick-and-mortar businesses had long complained that online retailers had an unfair advantage because states’ authority to collect revenue from them was limited.

“Sales and use tax compliance is an area of growing complexity for businesses, and many will need help navigating the outcomes of the Wayfair decision,” said Erik Asgeirsson, president and CEO of CPA.com. “We saw these issues coming to a forefront several years ago, which is why we launched our program with Vertex. Companies will likely need new technologies or processes to comply with this latest ruling, and CPAs can play a key advisory role for these clients.”

The two webcasts are:

“We are going to see states responding immediately and it will get even more complex for businesses as they face new rules and regulations,” said Craig Cookle, CPA, partner-in-charge of the state and local tax group for Wipfli LLP, a Top 20 accounting firm that uses the Vertex program through CPA.com. “As a trusted business advisor, there is a huge opportunity to reach out to clients, help them through the process and analyze next steps.”

To learn more about the impact of the Wayfair decision, see these FAQs from Vertex. For more information about resources for sales and use tax compliance, visit cpa.com/vertex.

About CPA.com

CPA.com is known for bringing 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.

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