Danielle Supkis Cheek, CPA, vice president and head of Analytics & AI for Caseware, had an interesting way to continue her exploration of the ethics of using AI tools in accounting: She asked ChatGPT to give her an answer. The response helped in her assessment of such tools. She shared more about that result — and answered our questions — in this episode of the JofA podcast.  What you’ll learn from this episode: ·         What a well-known generative AI tool had to say about the risks of using large language models in accounting. ·         The surprising thing an early version of ChatGPT said about Supkis Cheek. ·         The top-of-mind AI ethics concerns for the accounting profession. ·         How the development of smaller-scale language models, with accounting specifics, can improve confidence in large language models. ·         An explanation of the MAYA principle as it relates to AI. ·         Thoughts on taking a “measured approach” when it comes to AI auditing.

To Jen Croneberger, it’s easy for many in society to spend a lot of time planning to do big things but not always carrying out those plans. Taking an “if/then response approach” to life prevents accomplishing big goals, and so Croneberger advises people to take big leaps, even if they’re uncertain about having a safety net. That’s one of several leadership concepts discussed on this JofA podcast episode. Croneberger, an author and consultant, is the keynote speaker June 17 at the AICPA & CIMA Not-for-Profit Industry Conference. In this conversation, she previews that session, explains the words behind the acronym BRAVE, and shares the importance of human-focused leadership in an AI-driven world. Croneberger also responds to the topic of a JofA episode from April 2022 about how belief differs from arrogance. What you’ll learn from this episode: ·         A preview of Croneberger’s keynote session at the AICPA & CIMA Not-for-Profit Industry Conference in June. ·         Why leadership is “a behavior, not a title.” ·         Some of the ways she applies a sports background to her role as a consultant. ·         Why Croneberger likes the leadership advice “Go before you’re ready.” ·         How we can use digital devices to improve self-care. ·         The importance, in Croneberger’s mind, of speaking openly about topics such as depression.

In the first part of a two-part podcast discussion, Hamza Khan detailed how he was affected by a severe case of burnout about 10 years ago. In this episode, Khan, an author and keynote speaker, shares more about his battle with burnout today. Khan explained some of the reasons burnout can affect women in particular and shared some of the knowledge gleaned from attending two AICPA & CIMA Women’s Global Leadership Summits. He also discussed why having relatively few one-on-one meetings with his boss became a bad thing — and how leaders can make those meetings better. What you’ll learn from this episode: ·         Why Khan wanted to emulate Jay-Z. ·         The CASTLE acronym and it’s tie-in to burnout. ·         Why Khan took one-on-one meetings for granted earlier in his career. ·         The tough questions managers should ask employees in one-on-one meetings. ·         Why the technological disruption in business today is “a time of danger but also a time of opportunity.”

Hamza Khan believes the four-day workweek to be “an inevitability.” It is the sort of workplace trend that could help to diminish burnout, which is the main topic of this JofA podcast episode with Khan, an author and entrepreneur. This episode is the first of a two-part conversation with Khan, who has given keynote presentations at several AICPA & CIMA events, including the Global Women’s Leadership Summit and the CFO Conference. Khan spoke last year on the JofA podcast about the difference between managing and leading, and he’ll talk on the next episode about how strong leadership should include meaningful one-on-one meetings.

Tom Hood, CPA/CITP, CGMA, executive vice president–Business Growth and Engagement at AICPA & CIMA, together as the Association of International Certified Professional Accountants, has his finger on the pulse of the profession. He’s traveled all over, talking to everyone from corporate CFOs to newly minted accountants and accounting apprentices, and he’s sharing some of the insights gained from those discussions on this episode of the JofA podcast. Hood, who has been in his current role for three years after a long stint as CEO of the Maryland Association of CPAs, takes time to reflect on his move to the “global stage,” to explain the issues that most concern finance leaders, and to detail an early apprenticeship success story. What you’ll learn from this episode: ·         Hood’s reflection on three years in an AICPA & CIMA executive role. ·         The “pre-Internet” computer technology Hood’s company used when he was a CFO. ·         One example of how the power of peers has built the Future of Finance Leadership Advisory Group. ·         Why the story one bank’s apprentice provides hope in addressing the accounting talent pipeline drought. ·         The top-of-mind issues for finance leaders for this year and into 2025.

Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development, explains in this JofA podcast episode why finance decision-makers in the first-quarter Business & Industry Economic Outlook Survey are more optimistic now compared with the end of 2023. Witt summarizes the survey results, including CPA decision-makers’ expectations for revenue and profit increases and the top challenges facing them and their businesses. What you’ll learn from this episode: ·         A breakdown of sentiment about the domestic economy and CPA decision-makers’ own organizations. ·         Projected increases in revenue and profits for the coming 12 months. ·         The top challenges facing finance executives. ·         The hiring outlook for the coming year and how it differs by company size.

The AICPA & CIMA CFO Conference begins April 24 in Charleston, S.C. Sandy Sloyer, CPA, CGMA, and Misty Geer, CPA, CGMA are long-time members of the conference planning committee, and they joined the JofA podcast to discuss how priorities have changes for finance leaders over the past few years — and how the conference agenda has been adapted as a result. Here’s a link to the list of conference sessions. What you’ll learn from this episode: ·         Attendance options for the April conference. ·         How the conference planning committee adapted to the pandemic era. ·         Key issues facing CFOs and the finance function these days. ·         Agenda highlights, along with some of Geer’s favorite speakers from previous years. ·         Sloyer’s feeling every year when the conference ends. ·         Why the event is for current CFOs and aspiring ones.

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, returns as a guest on the JofA podcast to update listeners on the focus areas of tax advocacy.   Her team is paying close attention to employee retention credit claims, beneficial ownership information (BOI) reporting requirements, and IRS contingency plans in the event of a government shutdown.   Resources: January advocacy conversation with Lauridsen on the JofA podcast JofA coverage of the federal court opinion holding the Corporate Transparency Act unconstitutional and the appeal of that court decision Tax Section landing page, with extensive resource library on topics mentioned, including resources specific to the employee retention credit What you’ll learn from this episode: ·         Recent developments related to BOI reporting – who has to file reports and who doesn’t. ·         Why BOI reporting often falls to tax practitioners. ·         The differences between BOI requirements and the customer due diligence rule. ·         Why March 22 is important as it relates to government funding. ·         Lauridsen’s analysis of a tax bill now with a congressional committee.

The factors contributing to a decline in the accounting talent pool are many, and so are the strategies to address the issue.  In this podcast episode, Sue Coffey, CPA, CGMA, AICPA & CIMA’s CEO–Public Accounting, explains what early research has shown about why students are showing less interest in accounting. She also details the steps that multiple entities, including the National Pipeline Advisory Group (NPAG), are taking to grow the pipeline. In the interview, Coffey discusses CPA licensure, the 150-hour educational requirement, CPA practice mobility, and other issues important to her and the profession. Resources NPAG survey page: https://www.accountingpipeline.org/survey/ AICPA & CIMA business model transformation tools JofA content: n  Podcast episode with NPAG Chair Lexy Kessler, CPA, CGMA n  Podcast episode with NPAG independent facilitator Jennifer Wilson n  Podcast episode about including accounting in STEM curriculum with Jan Taylor, CPA, CGMA, and Lauren Pfingstag-Vahey n  Article on the formation of NPAG What you’ll learn from this episode: ·         The main goals of the National Pipeline Advisory Group (NPAG). ·         Why the recently released NPAG survey is aimed at current professionals and students. ·         What NPAG research is showing about the reasons for a decline in CPA candidates. ·         Coffey’s response on whether the AICPA is being stubborn about the 150-hour education requirement for CPA licensure. ·         The importance of audit transformation in Coffey’s mind. ·         Some of the regulatory agencies she speaks to as part of advocacy efforts.

Wassia Kamon, CPA, was a featured speaker at the Future of Finance Summit in Orlando late last year, and she joined the JofA podcast from the event to discuss how leaders can overcome their own biases to be more inclusive.   Kamon, vice president of finance at the Low Income Investment Fund in Atlanta, points out that with social media and other commonly used applications, it’s very easy for us to choose our own news, friends, and interest areas — or have algorithms choose the focus areas for us. That can be detrimental to people expanding their understanding of the world and learning about others. Kamon also explains a few types of bias and how they can hold people back, and she explains why it’s important to mix progression planning with succession planning. What you’ll learn from this episode: ·         Why we’re now in the “golden age of self-curation,” according to Kamon. ·         The danger of “blocking people” if you’re in a leadership role. ·         An explanation of implicit bias and status quo bias. ·         The meaning of leading in a “roundabout” way — and how it differs from a “traffic light” approach. ·         How Kamon once reacted when approached by a manager about receiving a promotion. ·         The importance of being “receptive to change.”

Bring together three of the top experts in the accounting technology space, and you’re bound to learn something (often, many things) new. That’s been the premise of the JofA Accounting Technology Roundtable since 2011. It held true again in 2024.  After discussing artificial intelligence and automation in Part 1 of the roundtable, published Wednesday, the three panelists — Automata Practice Development’s Wesley Hartman, IntrapriseTechKnowlogies’ Donny Shimamoto, CPA/CITP, CGMA, and Boomer Consulting’s Amanda Wilkie — turned their attention to several other topics, including one that is new to the roundtable — people tech.  What is people tech and why does Shimamoto think it’s going to be a big deal for accounting firms and finance departments this year and beyond? Find out in this episode. What you’ll learn from this episode: ·         What "people tech" is and why "HR tech" is not an adequate description ·         Ways accounting firms and finance departments can use the technology “for good” ·         Why AI can’t solve all problems, especially within people tech. ·         Why CPAs should be paying more attention to digital assets than blockchain. ·         The type of cybersecurity plan now required for many firms. ·         Where Web 3.0 stands and why it may be a little behind schedule. ·         A simple reminder about taking small steps when implementing technology.

ChatGPT generates most of the headlines, but it’s only a small part of the big picture when it comes to artificial intelligence (AI) in the accounting profession. What is the wider view on AI for accounting firms and finance departments, and how does it all relate to automation making life better for CPAs? Find out from three of the top accounting technology experts in the latest episode of the JofA podcast. Gathered for the JofA’s annual Accounting Technology Roundtable, the panelists — Automata Practice Development’s Wesley Hartman; IntrapriseTechKnowlogies’ Donny Shimamoto, CPA/CITP, CGMA; and Boomer Consulting’s Amanda Wilkie — covered numerous tech topics in a wide-ranging discussion being presented in two parts.  Part 1 features the aforementioned AI and automation discussion. Part 2, scheduled to be published Thursday, delves into topics including “people tech,” blockchain and digital assets, cybersecurity, and more. What you’ll learn from this episode: ·         How generative AI is like auto-complete. ·         What a recent announcement has in store for ChatGPT. ·         How AI has been around longer than you might think. ·         The importance of CPAs partnering with technologists to vet AI algorithms. ·         The different levels of automation and the best opportunities for CPAs.

Darryl Bonner of Connecticut-based Liberty Bank is part of a pioneering finance apprenticeship program. He’s in the midst of a rotation through several departments at the bank, and he’s taking steps to receive the CGMA designation as well. Bonner is one of the first apprentices in the AICPA’s Professional Apprenticeship for Finance Business Partners program, which in 2022 was approved by the U.S. Department of Labor. On this podcast episode, Bonner discusses why he was drawn to Liberty Bank, how he mixes his day job with the CGMA Finance Leadership Program, and what title he seeks to achieve in his career. Resources: n  Liberty Bank’s CFO, Paul Young, CPA, CGMA, joined the JofA podcast 13 months ago to discuss why the bank was interested in taking part in the program and how adding apprentices could help to address a talent gap. n  A short video on the impact of the apprenticeship program: https://www.aicpa-cima.com/resources/video/professional-apprenticeships-are-making-an-impact What you’ll learn from this episode: ·         How Bonner first heard about the finance apprenticeship program. ·         Why he considered his interview process with Liberty Bank to be unique. ·         An explanation of the departmental rotation program at Liberty Bank. ·         Why Bonner says “everyone can’t be coached the same.”

The practice of accounting is increasingly tied to technology, the T in the acronym STEM (science, technology, engineering, math). That tie-in is one reason the AICPA is advocating for accounting to be federally recognized as a STEM education field.  Two AICPA leaders join this episode of the JofA podcast to discuss the STEM topic: Jan Taylor, CPA, CGMA, academic in residence and senior director–Academic & Student Engagement, and Lauren Pfingstag-Vahey, director–Congressional & Political Affairs. Resources AICPA & CIMA resource page, Accounting is STEM JofA coverage of AICPA support for STEM-focused legislation in fall 2023 What you’ll learn from this episode: ·         Tracing STEM’s history to the 1950s space race. ·         The educator who came up with the acronym used today. ·         Why accounting should be considered a STEM education field. ·         How a STEM designation could help grow the accounting talent pipeline. ·         The number of co-sponsors for a House bill focused on accounting as STEM. ·         How members can support advocacy efforts.

Dan Crumb, CPA (inactive), CGMA, is a repeat guest on the JofA podcast, because, as CFO and executive vice president of the Kansas City Chiefs, his team is back in the Super Bowl for the second year in a row and the fourth time in five seasons. It’s a run he’d like to see continue and one that has presented the franchise with expanded revenue opportunities. In this episode, Crumb discusses the NFL’s first online-only playoff game, how the team’s finance function uses artificial intelligence (AI), and how he maintains balance in his life. And, of course, we asked him about Taylor Swift. Super Bowl LVIII is Sunday in Las Vegas. Below are Crumb’s previous podcast interviews: Journal of Accountancy episode in February 2023 FM episode in February 2020 What you’ll learn from this episode: ·         Steps taken to guide fans on staying warm during a recent game that was the coldest in stadium history. ·         Some of the AI-aided ways the franchise learns about fan demographics and attendance. ·         The impact of the team’s recent success on season-ticket renewals. ·         How Crumb addresses his spiritual, physical, and mental health. ·         A quick franchise history lesson — and why he tells staff to “enjoy the moment.” ·         His thoughts on suggesting a play to coach Andy Reid.

Mike Westervelt, CPA, is chair of the AICPA Accounting and Review Services Committee (ARSC), and he joins this episode of the JofA podcast to discuss the committee’s role in assisting members. In 2023, ARSC released a decision tree to guide practitioners in eliminating confusion related to the applicability of AR-C Section 70, Preparation of Financial Statements. He compares the decision tree, an interactive PDF, to the Choose Your Own Adventure book series. Resources: ·         ARSC homepage ·         Analytical Procedures in a Review Engagement ·         Guide to financial statement services   What you’ll learn from this episode: ·         An introduction to ARSC and its main roles. ·         An explanation of preparation services and related guidance. ·         What Westervelt means by saying: “You cannot trip into a standard anymore.” ·         A guide to ARSC’s decision tree and how it can eliminate confusion for practitioners about the applicability of AR-C Section 70. ·         Other resources for members and areas of focus for ARSC in the future.

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, joins the JofA podcast to review 2023’s tax advocacy highlights and look ahead to key issues this year and beyond. Her team’s focus areas include the employee retention credit claims, beneficial ownership information reporting requirements, along with numerous other issues of concern to tax practitioners. Resources: n  JofA article on BOI and what it means for CPA firms n  FinCEN news from December on BOI final rule n  Tax Section landing page, with extensive resource library on topics mentioned, including resources specific to the employee retention credit What you’ll learn from this episode: ·         The number of AICPA comment letters sent to legislators in 2023. ·         Where things stand regarding e-signature relief. ·         Lauridsen’s explanation of why beneficial ownership information requirements, while not specifically related to tax, are applicable to tax practitioners. ·         A summary of topics included in the resources section of the Tax Section’s landing page   ·         Lauridsen’s closing message to members.

Jennifer Wilson is passionate about the accounting pipeline and the work being done by the National Pipeline Advisory Group (NPAG). Wilson, the CEO of Convergence Coaching and independent facilitator for NPAG, joined the JofA podcast this week to update listeners on progress in addressing talent concerns. Wilson details the timeline for delivering a draft report to AICPA Council, themes that are emerging in discussions so far, and how entities but also individuals can play a vital role in attracting talent to the profession. Resources The main NPAG page, AccountingPipeline.org March 2023 JofA podcast episode with Avani Desai, CPA August 2023 JofA podcast episode with NPAG chair Lexy Kessler, CPA, CGMA Last week’s episode with Kimberly Ellison-Taylor, CPA, CGMA What you’ll learn from this episode: ·         An explanation of the National Pipeline Advisory Group (NPAG) and Wilson’s work with the group. ·         Some key factors that contribute to “pipeline leaks.” ·         The core value proposition of the profession, in Wilson’s words. ·         The role of individual responsibility in helping to address accounting talent concerns. ·         A timeline for some of NPAG’s key initiatives. ·         The small changes that can lead to big ripples in the pipeline, according to Wilson.

Kimberly Ellison-Taylor, CPA, CGMA, the founder and CEO of KET Solutions and a former AICPA board chair, is energized by people she met and words she heard at recent events. Ellison-Taylor recaps some of the highlights in this episode of the JofA podcast, focusing on a session at the Future of Finance Summit in December on how finance professionals, and women in particular, can turn dreams of serving on a corporate board into reality. Also, get caught up on recent articles in the JofA, including a recap of a session on generative AI at Digital CPA, the start of tax season according to the IRS, how auditors can handle questionable employee retention credit claims, and when some accountants are completing work. What you’ll learn from this episode: ·         A roundup of several JofA articles in a busy news week. ·         Ellison-Taylor’s key takeaways from the Women’s Global Leadership Summit and Digital CPA events. ·         The networking opportunities provided by those events and the Future of Finance Summit. ·         Her thoughts on technology being “unleashed” and future talent being “unlocked.” ·         What Ellison-Taylor means when saying “Together, we’re unstoppable.” ·         Why she says that budding leaders should spend time in an office instead of being fully remote.

Barry Melancon, CPA, CGMA, the CEO of AICPA & CIMA, explains why the accounting profession has to embrace generative artificial intelligence (Gen AI) instead of running from it. And that’s not all he’s talking about in this episode of the JofA podcast. Melancon shares insights on the effect of AI on audit and assurance, how private equity’s entry into accounting is changing firms, how business models themselves are changing, and why he says the world needs accountants more than ever. This is the second of a two-part conversation. The first part was published in December. What you’ll learn from this episode: The importance and value of a recently published toolkit on Gen AI. Why accountants and accounting firms have to embrace Gen AI and understand its risks. Potential uses for AI in auditing and assurance. The shifts Melancon sees in the business model of firms. Skills that CPAs should be prepared to learn, unlearn, and relearn.   Melancon’s explanation of the “trust equation” as it relates to CPAs.