2024 AICPA Spring Council Takeaways from Katherine Patnaude and Amber Moore

In May, CTCPA Executive Director Bonnie Stewart headed to Orlando, FL with AICPA Council members Katherine Patnaude of PKF O’Connor Davies and Amber Moore of Goldblatt Bokoff for the spring AICPA Council meeting. 

Current Connecticut AICPA Council members also include Chair Kevin Lawlor, Joe Radziewicz of Stanley Black and Decker, and Paul Young of Liberty Bank; this particular meeting marked the end of the terms of immediate past chair Tim Hedley of Fordham University and Susan Martinelli of RSM US.

Katherine and Amber had a front row seat to the profession, gleaning insight on where we stand today and where we’re going in the not-distant-at-all future. Given that both sit on the Pipeline Taskforce, Amber just finished her second term as chair of the Technology Committee, and Katherine serves on two of our audit committees, they were the perfect representatives! 

Here are some quick takeaways:

1. Artificial intelligence is transforming the profession – and employees need and want training.

 More than 90% of employees want Generative Artificial Intelligence (GenAI) training, yet less than 10% of employers are providing that education at a satisfactory level. Employers need to be looking at their AI policies and training – and soon! There’s a lot to think about, including that employees aren’t providing identifiable information to become part of the open AI models.

Artificial intelligence can actually be a tool used to help fill the pipeline. AI can automate certain work, making it less time-consuming for employees, which enhances the employee experience by making workloads more manageable and using the latest technology. 

>> Not sure where to start? CPA.com’s GenAI toolkit is a great first step, with tips and use cases.

2. The National Pipeline Advisory Group (NPAG) has outlined actionable steps to help fill the CPA pipeline - including a Pipeline Pledge that all members can take.

The National Pipeline Advisory Group (NPAG) has conducted extensive research and interviews to develop a data-driven multi-step plan with recommendations including:

• Address the time and cost of education.
• Make the academic experience more engaging.
• Enhance the employee experience by evolving business models and cultures.
• Prioritize strategies to expand access for the underrepresented at every stage.
• Grow support for CPA Exam candidates.
• Tell a more compelling story.

One thing every single one of you can easily do on an individual level is that last step: tell a compelling story to students and new employees about what this profession has to offer. If you’re proud to be a CPA or finance professional – talk about it!

Signing the Pipeline Pledge, sharing your story, and talking to students is a fantastic place to start. >> Learn more and sign the pledge at www.accountingpipeline.org.

>> Learn more about the National Pipeline Advisory Group’s recommendations.

3. Dynamic Audit Solution (DAS) adoption is accelerating – and proving attractive to younger professionals.

Dynamic Audit Solution (DAS) is a “technology-enabled, all-in-one audit workflow tool” developed by AICPA, CPA.com, Caseware International, and leading audit practitioners that is shifting the way firms are approaching the audit.

Eighty percent of the stakeholder consortium is either in evaluation, planning, or adoption, with 2,500+ engagements completed.

Younger professionals in particular seem to like the DAS methodology, helping them understand the “why” behind an engagement and better serve client needs.

>> Learn more about DAS at www.cpa.com/das.