Journal of Accountancy Podcasts

James Miln, ACMA, CGMA, a finance executive at Yelp, identified several key takeaways from the recent Future of Finance Summit in Nashville, Tenn., which featured a collection of executives and outside experts discussing the ongoing transformation of the finance function. One point that was clear to Miln as it relates to transformation: “We’re all eyes wide open this is a journey, and it is hard.” His voice is one of several from the Future of Finance Summit and the Digital CPA Conference that you will hear in 2022 episodes of the podcast, which will continue to cover accounting news and trends and highlight Journal of Accountancy content, such as new FASB accounting concept statements and single audit clarity related to pandemic relief programs.

This is the Journal of Accountancy podcast’s last episode of 2021. The guests in this episode are Lisa Simpson, CPA, CGMA, vice president–Firm Services at the Association of International Certified Professional Accountants, and Floyd Amuchie, CPA, the corporate controller at Virgin Galactic. Simpson provides an update on the status of several business relief programs and a look ahead to 2022 areas of focus for the AICPA Town Hall Series. Amuchie, who recently attended the Future of Finance Summit in Nashville, Tenn., shares a few lessons learned from the event (hear a previous JofA episode for more from Nashville). Also, get a quick preview of what the 2022 mileage rate will be for taxpayers to compute their deductible automobile costs.

December’s Last Word feature subject in the Journal of Accountancy is Amish Mehta, CPA, partner and nonprofit practice leader at the accounting firm Friedman LLP. Mehta explains why The Shawshank Redemption is his favorite movie, more about his path to becoming a CPA, and why it’s never too early to start networking. Also, hear a summary of recent analysis of the Senate Finance Committee’s Build Back Better text and more on the attributes of top-performing CPA firms.

A group of finance leaders took an inward focus at the recent Future of Finance Summit in Nashville, Tenn. They also explored their vision for the finance function out to 2030. The group focused on listening, self-awareness, and staff development, among other topics. This episode will be the first of several discussions from the summit, which brought together a range of corporate and not-for-profit executives. The guests in this episode, in order of appearance, are: Tom Hood, CPA/CITP, CGMA, executive vice president of business engagement and growth for the Association of International Certified Professional Accountants; Kimberly Ellison-Taylor, CPA, CGMA, former AICPA board chair and the founder of KET Solutions; John Griffin, CPA, CGMA, senior vice president and controller for AARP; Calvin Harris, CPA, senior vice president of finance and CFO of the National Urban League.

New challenges are emerging for businesses in the United States and old challenges are persisting, according to finance decision-makers in a recent quarterly survey. Ken Witt, CPA, CGMA, and Mellissa Reed, CPA, explain some of the headwinds and also the reasons for optimism in the future.

Accounting for and auditing of digital assets is evolving quickly. This episode passes on guidance from a CPA leader on the topic. Amy Steele, CPA, is co-chair of the AICPA Digital Assets Working Group. She’s also an audit partner at Deloitte & Touche LLP and serves as the firm’s Global and US Audit and Assurance methodology leader for blockchain and digital assets. Steele is scheduled to present at the AICPA & CIMA Conference on Current SEC and PCAOB Developments. The conference agenda is here. The episode also includes a news roundup, touching on topics that include the latest 12-month outlook of finance executives in business and industry and some of the key tax provisions in recently passed legislation.

Hear from CPAs Maxene Bardwell and Jim Bourke in this week’s episode. Bardwell, the subject of The Last Word in the November issue of the Journal of Accountancy, shares more about her career path, why there’s value in volunteering and mentoring, how she brings her authentic self to work, and why there’s candy at her desk. Bourke, a speaker at the Digital CPA Conference, shares insight for firms on two of his conference topics, robotic process automation and emerging advisory opportunities.

Ed Karl, CPA, CGMA, the AICPA’s vice president–Tax Policy & Advocacy, has followed infrastructure legislation closely. The Infrastructure Investment and Jobs Act was passed by the House on Nov. 5 and is now scheduled to be signed by President Joe Biden. But that version is different than the version approved by the Senate in August, and there remains a companion reconciliation bill to be negotiated. Karl shares analysis on the end of the employee retention credit, the future of corporate tax rates, preparer regulation, SALT caps, and more.

Companies are still trying to find their way about 20 months after the onset of the COVID-19 pandemic. Their enterprise risk management (ERM) efforts were tested, as some risks were amplified and others emerged. Now, entities are trying to apply some of the lessons they learned along the way. CPAs Mark Beasley and Paul Walker, professors who each direct ERM-focused centers at universities, discuss how risk management is changing, what organizations are worried about today, and how they can better manage risks moving forward. Also, get updates on the formation of the International Sustainability Standards Board and these Journal of Accountancy headlines: How Investors Can Protect Against Inflation FASB Addresses Contract Assets, Liabilities Acquired in a Business Combination FASB Proposal Would Amend Interim Disclosure Requirements

The Journal of Accountancy’s October cover story shares how one firm approaches succession planning. REDW is a top 200 firm with offices in Phoenix, Albuquerque, and Edmond, Okla. Christina Roderick, CPA, CGMA, is the head of REDW’s tax practice, a role she assumed in July 2020. She talks about her succession journey, REDW’s approach to identifying succession candidates early, and more. Also, stay up to date on news related to FASB and the IRS, and get a primer on a CPA Insider feature on a topic certain to generate discussion: Taking a nap during the workday.

Staff who aren’t a good fit for your firm’s culture aren’t likely to stay long. In this second part of a two-part podcast, Guy Gage, founder of consulting firm PartnersCoach, talks about interview questions to ask that can determine whether a job candidate will integrate well to your culture, and other key aspects of hiring for culture.

Client advisory services (CAS) practices are growing rapidly, and Kalil Merhib, the vice president of Sales and Client Services for CPA.com, has details. Merhib discusses the recent CPA.com & AICPA PCPS Client Advisory Services Benchmark Survey along with the opportunities for firms interested in starting or growing CAS practices. Also, get a preview of the upcoming AICPA & CIMA Corporate Finance and Controllers Conference and an article on a conference session about building an anti-fraud wall, and stay up to date on news related to Social Security, the IRS, and the PCAOB.    

Having a good grasp of your organizational culture can help you hire the right people and adopt the right approach to change. But determining what type of culture your firm has isn’t always easy. In this first part of a two-part podcast, Guy Gage, founder of consulting firm PartnersCoach, discusses the three types of culture he sees most often in CPA firms, and ways you can tell which predominates in your firm.

Stephanie Palmertree, CPA, CGMA, saw a need for better continuing professional education at the Mississippi Office of the State Auditor. The speakers were the same every year, and the issues weren’t necessarily the ones faced by staff at her agency. So, CPE offerings were revamped, becoming more meaningful and targeted. Palmertree explains the why and how of those changes, along with reasons for enjoying the Harry Potter book series and how she relies on her favorite tech tool. Also, listeners can get caught up on recent news related to a new auditing standard and new PCAOB guidance on audit evidence.

Transforming the auditing practice to be more digital requires more than just new tools. It also means a shift in mindset for firms serious about taking a digital-first approach. On this episode, the third in a series on audit evolution, Alan Langelli, CPA, lead partner of the technology industry services group at Aronson LLC, shares three key reasons that adopting a digital mindset is important.

The AICPA Peer Review Board recently issued an exposure draft that includes proposed changes to AICPA standards for reporting on and performing peer reviews. Brad Coffey, CPA, an AICPA manager, explains more about the exposure draft and what the proposed changes are designed to accomplish.

Tax practitioners haven’t had it easy, with pandemic-related delays and legislative changes in the middle of tax season making their jobs more difficult. Year-end planning can’t eliminate all the uncertainty, but it can help. April Walker, CPA, CGMA, lead manager on the AICPA’s Tax Practice & Ethics team and host of the Tax Section Odyssey podcast, shares advice for practitioners as the calendar year winds down. Also, get a “your”/”you’re” refresher, a preview of a recently published grammar quiz, and updates on news related to the IRS and the PCAOB.

In the September issue of the Journal of Accountancy, Marie Brilmyer, CPA, said in The Last Word: “I think my greatest challenge has been in figuring out how to step back or when I need to step back.” In this podcast episode, Brilmyer expands on the need to prioritize and offers advice for others who may be seeking balance. Also, hear a preview of other JofA articles from the recent print issue and from our news page.

Several ethics-related exposure drafts are in focus in this week’s episode. Toni Lee-Andrews, CPA, CGMA, the director of the AICPA’s Professional Ethics Division, shares details on three upcoming EDs, a timeline for comments to the drafts, and more about the division’s streamlined comment process. Lee-Andrews also previews two recent episodes of the division’s Ethically Speaking podcast. Visit aicpa.org/ethics for more ethics resources. Plus, get a refresher on what makes a good cover letter, and keep up with top recent news in the Journal of Accountancy.

For the September issues of The Tax Adviser and the Journal of Accountancy, more than 2,100 tax professionals shared opinions on tax preparation software. Editors Alistair Nevius and Paul Bonner discuss details of the annual tax software survey — what CPAs liked and disliked, and the difficulties of the most recent tax season for preparers and the software companies.