Journal of Accountancy Podcasts

Ken Witt, CPA, CGMA, AICPA & CIMA associate director – Management Accounting Research and Development, discusses in this JofA podcast episode the reasons that finance executives in a quarterly AICPA & CIMA survey continue to lower their optimism about the U.S. economy. He also reveals what CPA decision-makers now view as their organization’s top challenge. For the first time in a long time, it’s not inflation. On the episode that detailed the previous quarter’s survey, Witt noted that inflation “seems to be settling out a little bit.” This quarter’s survey data shows that was an accurate assessment, as inflation concerns are diminishing somewhat. What you’ll learn from this episode: ·         Details about Witt’s assessment of this quarter’s results as “interesting.” ·         The surprising parts of the third-quarter data. ·         Updated projections for revenue and profits in the coming 12 months. ·         How election-year uncertainty is affecting CPA decision-makers’ business forecasting ef

In about two months, Corey Ciocchetti will deliver a keynote session at the AICPA & CIMA Governmental and Not-for-Profit Training Program. He previewed that session in this episode of the Journal of Accountancy podcast. In the conversation, Ciocchetti discusses how he chose what law school to attend, why his more recent presentations mention the importance of civil discourse, and what he remembers about a speech by the founder of a prominent mutual fund company. What you’ll learn from this episode: ·         Why he thinks people have a hard time prioritizing friendships and pursuing a sense of contentment. ·         His decision on where to attend law school and that decision’s link to a different keynote speaker at an AICPA & CIMA event. ·         What the phrase “real rabbits” means to Ciocchetti. ·         Ciocchetti’s recall of one early student interaction that changed how he viewed audience engagement.

On this episode of the JofA podcast, Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, explains some of the tax-related repercussions of recent Supreme Court decisions. One case could have a dramatic effect on future rulemaking, and the other could have a decades-long retroactive effect. On June 28, the Supreme Court overturned its decision in Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984), holding that the Administrative Procedure Act (APA) requires courts to exercise their independent judgment in determining the meaning of statutory provisions, and courts may not defer to an agency's interpretation of the law just because a statute is ambiguous (Loper Bright Enterprises v. Raimondo, No. 22-451 (6/28/24)). On July 1, the Supreme Court decision expanded the time frame to sue federal agencies, holding that the six-year statute of limitation for lawsuits challenging regulations does not start to run until a plaintiff is injured by final agency acti

Barry Melancon, CPA, CGMA, was named the leader of the AICPA when he was in his mid-30s. Now, in his final months as CEO of AICPA & CIMA, he discusses the events that challenged the profession, risks that could be obstacles in the future, and why he’s optimistic about the role accountants play. In this conversation, the second of two parts, Melancon challenges the notion that the profession is slow to change, explains why trust will continue to be important, and emphasizes the importance of speed and competencies in continuing to evolve. Listen or read part 1 here. What you’ll learn from this episode: ·         A quick summary of the topics in part 1 of the conversation. ·         Why Melancon believes the word “passion” would be used to describe him. ·         What Melancon called “the most tumultuous period” of his career and how he viewed the profession’s emergence from that era. ·         Why speed will be important in the continued transformation of the accounting profession. ·         His

Barry Melancon, CPA, CGMA, was named leader of the AICPA when he was in his mid-30s. Now, in his final months as CEO of AICPA & CIMA, he discusses his background and upbringing, his unlikely path from rural Louisiana to speaking to leaders around the world, and why he puts extra emphasis on trust. Part 2 of the conversation, recorded in July, will be published next week. Below are links to the previous two-part discussion with Melancon, episodes that were published in December and January: n  News and trends affecting CPAs n  Business model transformation, private equity, and more What you’ll learn from this episode: ·         More from Melancon about what he calls “a great journey.” ·         His assessment of how the profession has changed since the mid-1990s. ·         Some of the skills learned during his tenure as CEO. ·         Why he says the world is “devoid of trust.” ·         A preview of topics discussed in Part 2 of the conversation, scheduled to publish next week.

The National Pipeline Advisory Group published its final report on talent solutions for the accounting profession, and the group’s chair, Lexy Kessler, CPA, CGMA, joins the Journal of Accountancy podcast to hit on the high points. Kessler is AICPA vice chair and also mid-Atlantic leader for the firm Aprio. In this episode, she shares next steps for the profession. What you'll learn from this episode: An overview of the six major themes of the report. How a “plethora of perspectives” came together to address solutions for the pipeline issue. Details about addressing the time and cost of education. An explanation of the three E’s that represent the components of CPA licensure. What’s next as the recommendations move from paper to practice. How CPAs and educators can take the Pipeline Pledge.

Tom Vartanian, executive director of the Financial Technology & Cybersecurity Center, joined the JofA podcast recently to discuss concerns about the rapid pace of technology adoption. Although he sees the benefits technology has had, he also sees drawbacks. “It's not that we shouldn't have technology, it’s not that we shouldn’t applaud tecnology,” Vartanian says in the episode. “It's just that our balance is off.” Vartanian, a former federal banking regulator and the author of nine books, is a keynote speaker Sept. 9 at the AICPA & CIMA Conference on Banks & Savings Institutions, which is co-located with the AICPA & CIMA Conference on Credit Unions. What you’ll learn from this episode: Why Vartanian senses “irrational” euphoria about rapid technology advances. The speaker’s reminder about the original, limited purpose of the internet. Details on the assertion of “going back to fundamentals” when it comes to cybersecurity. The difference in approach between a regulated bank and a third-party

The AICPA & CIMA Cannabis Industry Conference starts Aug. 12 in Aurora, Colo. Rachel Gillette will be one of the event’s front-and-center speakers and moderators. Gillette joined the Journal of Accountancy podcast recently to discuss some of the trends and issues affecting the industry from a legal and regulatory perspective. Gillette, a Denver-based attorney, also explained how she ended up in this niche practice area. What you’ll learn from this episode: ·         Background on the proposed rescheduling of cannabis and why it matters for the industry and for accountants who advise cannabis businesses. ·         Gillette’s opinion of what might happen with cannabis-related legislation. ·         Why potential cannabis rescheduling could mean that certain businesses are no longer subject to Sec. 280E. ·         How the potential changes could affect CPAs. ·         What Gillette looks forward to about the AICPA & CIMA Cannabis Industry Conference. ·         How a decision more than 15 years ago

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, joined the Journal of Accountancy podcast earlier this month to discuss the latest developments related to several items of note for tax practitioners. Lauridsen shared data from a survey of members about IRS performance during tax filing season. She also analyzed recent IRS proposed regulations related to interest recapture on excess COVID-19 credits.   In her previous podcast update, Lauridsen focused on IRS data related to its performance during filing season. Lauridsen said that detailed information will be coming soon on the Tax Section Odyssey podcast related to the employee retention credit. What you’ll learn from this episode: ·         Updates related to employee retention credit (ERC) claims. ·         Why ERC claims labeled “medium-risk” by the IRS are on hold. ·         Lauridsen’s analysis of proposed regulations released by the IRS earlier this month. ·         The focus of a Maryland opinion on beneficial owner

Tony Nitti, CPA, discusses a recent U.S. Supreme Court decision that some observers viewed as having the potential for wide-ranging changes in tax law. In the end, the decision was a narrow one, but the details of what was addressed and what wasn’t make for an interesting conversation on this collaborative podcast episode. Nitti, partner–National Tax at EY, joins April Walker, CPA, CGMA, lead manager–Tax Practice & Ethics at AICPA & CIMA, for this episode, jointly produced by the JofA and the Tax Section Odyssey podcast. On June 20, the Supreme Court upheld the constitutionality of the Sec. 965 transition tax in a narrow opinion that applies only to passthrough entities (Moore, No. 22-800 (U.S. 6/20/24)). The Court found it was not required to address whether it is a constitutional requirement that income must be realized before it can be taxed. Nitti and Walker discussed the ruling in a late June recording. Resources: n  The unabridged version of the Walker and Nitti conversation on the Tax Sectio

Calvin Harris, CPA, knew he wanted to be an accountant well before he got to college. He had several mentors who helped him make that decision. It’s one reason he believes that accountants need to reach students early and tell a better story about the profession. Harris was first on the JofA podcast in February 2022, when he was CFO of the National Urban League. Today, he’s CEO of the New York State Society of CPAs and keenly aware of some of the profession’s issues related to available talent. He discussed some of the ways accountants can help attract candidates to the profession and commented on the draft recommendations in the recently published report by the National Pipeline Advisory Group. What you’ll learn from this episode: How technology has energized Harris and how it’s empowering young CPAs. How Harris’s mother, a former high school teacher, influenced his career choice. The crucial role diversity and inclusion can play in the future of the profession, according to Harris. Why telling a

Byron Patrick, CPA/CITP, CGMA, took time from his schedule during AICPA & CIMA ENGAGE a few weeks back to join the JofA podcast. Patrick, recently named CEO at a startup company, has been a regular on the show over the years, talking mainly about technology topics. He continued that theme in this episode, discussing artificial intelligence, how the roles of chief technology officer and chief information officer have changed over the years, and why accounting professionals shouldn’t feel overwhelmed by all the tech-focused changes taking place. Also, click here for the podcast episode from nearly five years ago in which Patrick discussed the use of emojis in email. What you’ll learn from this episode: Why Patrick calls ENGAGE “the premier event of the year.” Details about the AICPA and CPA.com Startup Accelerator. A summary of key messages and themes from a technology-focused ENGAGE session. Patrick’s advice for fellow accountants who might feel overwhelmed by the speed of technology-based changes.

Sara Lord, CPA, is chair of the Auditing Standards Board (ASB), which recently issued a new standard that completes the suite of quality management standards ahead of an important implementation deadline in late 2025. Lord, who discussed advice for firms on implementing the standards on a JofA podcast episode in 2022, joined the show again last week to talk about the end of a journey. In this episode, Lord details the terminology changes made official by the ASB’s May 14 vote. In the conversation, there is a mention of the standard being available sometime in June. Since recording, the link has gone live and is available here: Statement on Standards for Attestation Engagements No. 23. What you’ll learn from this episode: ·         An explanation of the changes implemented by the ASB in a May vote. ·         Why the May vote marks “the end of a standard-setting journey.” ·         Why Dec. 15, 2025, is an important date for implementation of the standards. ·         Implementation guidance, including where

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 second-quarter Business and Industry Economic Outlook Survey are less optimistic now compared with the first quarter. 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: ·         Why Witt says the outlook this quarter is “mixed.” ·         An overview of respondents’ sentiment about the domestic and global economies. ·         The “signs of strength” in KPIs, including revenue and profit projections for the next 12 months. ·         One metric that Witt will monitor in the third-quarter survey results.

Anoop Mehta, CPA, CGMA, is the chair of the selection committee that will choose the next AICPA & CIMA CEO. Mehta, a former AICPA chair and Association of International Certified Professional Accountants chair, discussed the qualities the organization seeks in its next leader, a planned timeline for the selection committee, and the importance of knowledge transfer. The CEO chosen will replace Barry Melancon, CPA, CGMA, who on May 22 announced his retirement, effective at the end of the year. Mehta, who recorded the episode at AICPA & CIMA ENGAGE, also shared why he thinks prospective CPAs should attend the annual event in Las Vegas and why he expects to continue meeting with accounting students. Resource: AICPA & CIMA CEO job description What you’ll learn from this episode: ·         A planned timeline for hiring the next CEO. ·         The qualities being sought in the next leader. ·         Mehta’s explanation of how a strong leader can balance openness to hearing others’ perspectives wit

Trisha Nomura, CPA, CGMA, and Abel Soares III, CPA/PFS, don’t live far from each other, but they didn’t know the other’s story until Soares was featured in an AICPA & CIMA Member Spotlight Series video. They joined the JofA podcast recently to discuss how connecting has led to mutual admiration — and opened up new ideas for mentoring. The episode is in recognition of Asian American Native Hawaiian/Pacific Islander (AANHPI) Heritage Month and intended to celebrate the diverse voices of the profession. Resources n  AICPA & CIMA home page for diversity, equity, and inclusion n  Full index of the Member Spotlight Series focused on diverse voices: What you’ll learn from this episode: ·         How Nomura and Soares learned that they were essentially neighbors. ·         The background of each CPA and why it matters — particularly this month. ·         Their advice for fellow accountants on being more entrepreneurial. ·         The inspirational emails Nomura has received after speaking to students ab

Marty Finn, CPA/PFS, J.D., LL.M., is an ENGAGE co-chair, focusing on tax, personal financial planning, and estate planning topics for the event, which begins June 3. Finn got his start on conference committees after meeting Sid Kess, a legendary tax practitioner and mentor who died in September at age 97. The advice of Kess has stuck with Finn, and Finn believes that an emphasis on top-notch speakers and topics is what has made ENGAGE and its predecessor events valuable to CPAs for years. Resources: ENGAGE registration information and agenda A remembrance of Sid Kess, by Andrea Millar, CPA/PFS “Summing Up Sid” podcast episode from September Longtime AICPA CEO Barry Melancon announces his retirement What you’ll learn from this episode: First, a word on the news of the week: AICPA CEO Barry Melancon announces plan to retire. Melancon is scheduled to be at ENGAGE, a signature AICPA event that Finn looks forward to each year. Finn’s explanation of the Sid Kess Rule. The topics that are expected to be addre

Ami Beers, CPA, CGMA, senior director–Assurance & Advisory Innovation for AICPA & CIMA, joins the JofA podcast for this episode to guide CPAs on how to approach the new SEC rule on climate-related disclosures. The SEC adopted the rule March 6. But, about a month later, it put a stay on the rule’s implementation, in response to multiple legal challenges to the rule. Some argued that the SEC overstepped its authority, and others said the SEC didn’t do enough. Either way, it’s likely the rule will affect corporate reporting going forward, despite the lack of clarity now. Beers explains that and more, underscoring the importance of not waiting to understand the rule. Resources n  May 23 webinar mentioned by Beers n  AICPA and Center for Audit Quality summary document n  JofA March 6 article on rule adoption n  JofA March 14 need-to-know summary  What you’ll learn from this episode: ·         Ami Beers’ rundown of the recent timeline of sustainability reporting and the SEC’s adoption of its rule on c

Tax filing season can be a marathon, or it can be a sprint to the finish. Either way, the collective sigh of relief is real. Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, reflected on the last filing season and addressed advocacy items to watch in this episode of the Journal of Accountancy podcast. Lauridsen, in her third tax advocacy update of 2024, discussed the latest on employee retention credit (ERC) claims, including an eye-popping cost estimate. She also shared advocacy updates and looked ahead to the rest of 2024. In her previous podcast update, Lauridsen focused on clearing up confusion related to beneficial ownership information reporting. What you’ll learn from this episode:  ·         The comparison of tax season to a two-hour marathon. ·         Why this was the first tax season in many years with “a smooth runway” for filing. ·         Lauridsen’s reaction to the comment by IRS Commissioner Danny Werfel about receiving 20,000 ERC claims per week. ·         Advo

Roger Kenyanya, vice president of finance at home improvement store Lowe’s, took part in the inaugural AICPA and CPA.com AI Symposium about three months ago in New York. Why did he refer to the event as a “humbling, full-circle moment” in a LinkedIn post? Find out on this episode of the JofA podcast. Kenyanya, a member of the Future of Finance Leadership Advisory Group, shares how both the finance function and overall business are harnessing the power of AI. He also details his career journey and notes how the skill sets of next-generation finance employees will change. What you’ll learn from this episode: ·         The “significant milestone” in Kenyanya’s career — in his junior year of college. ·         Kenyanya’s path to his current role as a finance leader at Lowe’s. ·         His takeaways from a January symposium about AI. ·         Some of the ways AI is being harnessed at Lowe’s. ·         How the skill set for tomorrow’s finance employees is changing and the three-pronged focus of that shif