Adaptability and New Ideas Will Drive the Profession Forward 

by Gabrielle Luoma, CPA, CGMA 

As a small firm owner, I stay on top of trends, developments, and information that can help me better run my practice and serve my clients. That’s why I was interested to hear about the AICPA’s proposal to create a new association with The Chartered Institute of Management Accountants (CIMA) while still preserving the AICPA and CIMA membership bodies. To me, this proposal means the profession is evolving along with the market and business environment, and I believe my clients and I will benefit from it.

To support my firm and my clients, I need to be adaptable and open to new ideas as things are constantly changing. Between the new technologies, firms are utilizing to provide more efficient services and the expanded needs of clients; CPAs are gaining diverse skillsets, innovating like never before and embracing broader perspectives that will strengthen their practices. Creating the new international association will infuse the profession with new perspectives and ways of thinking. It will also help keep the CPA brand strong, and enhance how CPAs serve our clients by providing us with the additional insights—particularly from an international perspective—that we can share with our clients.

Increased advocacy on an international level is another benefit of this proposal. My clients have new opportunities on their radar. Their perspectives are broadening, and it’s highly probable they will gravitate toward doing business or making investments outside of the U.S. My firm isn’t the only one that will be affected by clients’ changing interests. Today’s technological, service, supply chain, and other innovations are leading even the smallest companies to conduct business and develop products across borders. Our profession must continue to evolve with our clients. I predict that most firms will begin to work beyond our borders on some level in the future. Helping us meet the needs of firms and our clients will be a key component and benefit of the proposal.

Through the proposal, AICPA members will retain their current membership and will also automatically become members of the new association with no additional dues. In addition, the AICPA will retain its focus on promoting and protecting the CPA. The AICPA and CIMA will be able to harness the power of each organization to provide new research, tools and market intelligence to help me continue to evolve my trusted adviser role for my clients.

I believe that the proposal will strengthen the profession and enhance our work as accountants. Ultimately, the new association would represent a strong financial army of accounting professionals, and we will be better equipped to help clients all over the world.

GMLCPA PLLC is a small firm based in Tucson, AZ.  Gabrielle Luoma, CPA, CGMA is the firm owner.




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