AICPA Special News Update Spring Council 2017 

Published May 26, 2017

May 26, 2017
Dear AICPA members,

The rapid pace of technological innovation is transforming the way we work, driving new opportunities, unleashing new risks and creating a maze of complexity. Clients, businesses and the public are looking to us to help them make sense of it all, and as a profession, we have to continuously adapt to maintain our relevance. That theme was pervasive throughout the AICPA's Spring Council meeting this week in Washington, D.C., which focused on "Accounting in Extraordinary Times." Here is a quick snapshot of the areas discussed and examples of the significant work underway to help CPAs and CGMAs lead change and transformation within firms and organizations of all sizes.

In April 2017, we released a cybersecurity risk management reporting framework, which helps organizations describe their efforts and facilitates a CPA's examination and report on those activities.

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  Business Model Transformation

CGMA's Rethinking the Business Model white paper proposes a business model framework designed to enhance decision-making that leads to long-term value creation. Finance leaders are invited to share feedback.

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The AICPA's Certified in Entity and Intangible Valuations (CEIV™) credential helps address regulator concern about quality, consistency and transparency of how fair value measurements are substantiated.

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AICPA Council members visited Capitol Hill to discuss key issues, such as IRS modernization, tax reform, mobile workforce legislation and federal financial statements resolution.

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Auditing in the Future

Business needs are changing. We are preparing members to better serve their clients and the public by providing new assurance and advisory services that capitalize on the latest technologies.

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Gen Z is different from the millennials who precede them. Understanding their unique traits and career expectations will help leaders attract, retain and develop this next generation of talent.

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Each of these initiatives is enhanced by the new Association of International Certified Professional Accountants, which expands our influence, efficiency and effectiveness in meeting the needs of the profession today and tomorrow. I'm proud of the strides we're making. Together, we will work to move the profession forward and keep it strong, vibrant and relevant for future generations.

Kimberly Ellison-Taylor, CPA, CGMA
Chairman, American Institute of CPAs
See more highlights from the week: #AICPAGC17
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