At Last! A&A Support and Guidance in Plain English!
The Center for Plain English Accounting (CPEA) has been ten years in the making and the AICPA is thrilled to announce its availability to PCPS members! A&A is so complex today and small to mid-size firms struggle with where to go for help as they do not have access to a “national office,” larger CPA association memberships or other resources that are available to larger firms. The CPEA is designed to go beyond the technical hotline, which is still available to members, to provide deeper A&A support for PCPS member firms by answering written technical inquiries, supplying written A&A reports and alerts and providing regular educational webinars.
PCPS has partnered with Dr. Tom Ratcliffe, CPA, a highly respected and nationally known authority on A&A, who will be the technical director of CPEA. Tom will build upon the straight-forward and plain-English responses he already delivers to practitioners to help them understand and apply standards and literature when preparing, auditing, reviewing or compiling financial statements. Tom will be supported by a stellar technical team, too, at the AICPA, including Bob Durak, the AICPA’s director of private company financial reporting, along with two highly qualified technical senior managers, Chuck Landes, CPA, the AICPA’s vice president for professional standards and Mark Koziel, CPA, CGMA, the AICPA’s vice president for firm services and global alliances.
The CPEA has two options for PCPS members:
- Full Access Version for $1,495 per member firm annually, which includes:
- Practical, monthly reports and news and alerts on current A&A topics and guidance
- Access to the website and database with past reports and information to conduct your own research
- Eight two-hour NASBA certified webinars for one person (each additional participant may attend for $25 per webinar)
- Written responses to submitted written questions on various A&A topics, standards, guidance, etc.
- Limited Access Version for $595 per member firm annually, which includes:
- Practical, monthly A&A reports
- Eight two-hour NASBA certified webinars for $25 per attendee per webinar
The CPEA is available today to PCPS members! For more information about the CPEA or to join, visit www.aicpa.org/cpea.
The CPEA Helps Make Small and Mid-Size Firms Better
By George Willie, CPA, PFF, CGFM
I am so excited about the launch of our new Center for Plain English Accounting because it fulfills our mission at PCPS to help small and mid-size CPA firms be more successful! Keeping up with standards has been cited as one of the top ten issues facing small firms over the last several years in the PCPS CPA Firm Top Issues Survey and it has been a goal for PCPS to help address that need for firms.
Small and mid-size firms that conduct audits need access to support and guidance on complex issues or how to handle specific situations while larger firms have access to their “national office” or other partners. The CPEA provides a library of knowledge, information and resources plus the ability to submit a specific written question and receive a written answer in a timely manner – all within the annual fee (in the rare case that it’s a significant issue that requires further research, the CPEA will notify members in advance).
This allows practitioners to maintain their commitment to quality and take their time and a thoughtful approach to their client’s situation with the ability to get another perspective from technical resources at the CPEA who have encountered similar issues or situations. The CPEA increases the confidence of small and mid-size firm partners to take on engagements and serve clients knowing that there is a resource available to them where they can ask a question or seek guidance on topics or areas they may not have encountered before.
I believe the Center for Plain English Accounting takes us one step further to help make small and mid-size firms better and recognize their contribution to their profession.
George Willie, CPA, PFF, CGFM is the managing partner at Bert Smith & Co. and the Chair of the PCPS Executive Committee.