Director
AICPA Professional Ethics Division, Disputanta (remote)
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Toni has committed her professional life to peer review. Formerly president and managing director at Andrews CPA Associates, PC, in Colonial Heights, Toni is a former peer reviewer and served as chair of the Education and Communications Task Force at the AICPA Peer Review Board, as past chair of the VSCPA Peer Review Committee, and as a technical manager with the AICPA Peer Review Program. Honing her expertise in ensuring adherence to industry standards led her to her current position, director of the Professional Ethics Division at the AICPA, where she oversees critical aspects of ethical standards within the accounting profession.
Toni says she is driven by the dynamic nature of her work — each day presents new challenges and opportunities for learning and problem solving. “As a CPA, the work is like a puzzle that needs to be figured out and it’s exciting when it’s solved!”
At the end of the day, Toni sees her success as based on the client’s success, the AICPA member’s success, or her team’s success. The Professional Ethics Division talks often with CPAs who need guidance on ethical issues. In private practice, Toni says she was often told by clients: “I trust you with everything” related to their financial situation. She believes that trust is the nicest compliment for a CPA.
Within her community, she served as the first female president of the Country Club of Petersburg and is currently a director on the board of Touchstone Bank. Personally, she spends time with her two grandsons and identical twin granddaughters.
Toni graduated summa cum laude graduation from Mount Olive College in North Carolina, where she received the Martin Award for academic excellence.
“My role at the AICPA is driven by my passion for contributing to the ethical standard-setting within the accounting profession, alongside overseeing enforcement and member enrichment initiatives,” Toni says.
She collaborates closely with the Professional Ethics Executive Committee (PEEC), a senior committee entrusted with interpreting and enforcing the AICPA Code of Professional Conduct, as well as issuing new interpretations and rulings, and ensuring ongoing monitoring and revisions as necessary.
“The work of the AICPA, and the Professional Ethics Division in particular, has historically benefited the public and our profession by maintaining professional standards and ensuring that our members comply with those standards. In a time when public trust in institutions is eroding due to various scandals and the prevalence of disinformation, it’s more important than ever that our profession stands as a bulwark to protect the public.”
Via its hotline, the Professional Ethics Division receives calls and emails from practitioners and other stakeholders seeking guidance about ethical issues and how the code applies in a given situation. “Overall, the code, along with the division’s educational work and enforcement activities, help ensure the integrity, objectivity and independence of the profession, upholding the reputation of CPAs.”
The Professional Ethics Division is working on several domestic and international projects, such as private equity investment in firms, artificial intelligence, and digital assets. “We’ll be determining if we need revisions and/or additions to the code in these areas as well as the development of member enrichment materials such as Q&As, tools and practice aids.”
The Division also added nonauthoritative guidance in the Plain English Guide to Independence in the fees area as part of its international harmonization efforts. Internationally, the Division monitors activities like tax services, engagement team/group audits, using the work of an external expert, and sustainability.
The biggest and most pervasive challenges Toni sees affecting the profession are technology disruption, data security and privacy, globalization, and economic uncertainty.
CPAs must adapt to new ways of doing things in response to tech advancements like automation, AI and blockchain, Toni believes. “We need to develop digital skills and leverage automation tools to enhance efficiency and accuracy in our work. This is especially important given the pipeline issues in the profession. We’ve simply got to be able to do more with less.”
Protecting client information and ensuring data security and privacy are paramount concerns for CPAs in today's business environment, she also notes. Because CPAs deal with vast amounts of sensitive financial data, they are vulnerable to cybersecurity threats and data breaches.
Finally, economic uncertainty will challenge CPAs and their organizations. “As businesses operate in an increasingly global economy, CPAs face challenges related to cross-border transactions, international tax compliance, and navigating diverse regulatory frameworks. Understanding international accounting standards and cross-border taxation issues is essential for CPAs working with multinational clients.”
Toni would like the profession to implement marketing campaigns and educational initiatives that provide insight into the field and demonstrate who CPAs are. “By highlighting the diverse career paths available, such as the distinctive roles of forensic accountants versus tax accountants, we can attract students to the profession,” she says.
She cites mentorship programs, networking opportunities, and modernizing the accounting curriculum as vital steps. “It's essential to engage with students where they are, emphasizing the value of professional certification and demonstrating the potential for career advancement. Moreover, promoting diversity and inclusion and fostering partnerships with educational institutions and employers are integral aspects of attracting talent to our profession.”
“Never stop learning, build a strong network, advocate for yourself, seek and be a mentor, develop leadership skills, embrace technology, foster work-life balance, etc. Someone asked me once, ‘Does the accounting field make you happy?’ There’s great satisfaction in being good at what you do and helping others.”
Toni says it’s crucial for an accounting grad to get their CPA license early in their career, which opens doors to advanced opportunities like becoming a partner in an accounting firm or holding executive positions in corporations.
She recommends aspiring CPAs prioritize integrity and ethics in all aspects of life and work. “You will be faced with ethical dilemmas regularly. It’s not ‘if,’ it’s ‘when.’ It could be a conflict of interest because you have a personal relationship with an auditing client. Or you could face pressure to manipulate financial data to meet targets or make stakeholders happy. Holding tight to your personal integrity every day and in every way will help you navigate dilemmas when they arise.”
New CPAs should develop soft skills like communication and leadership, hone presentation abilities through public speaking courses, and take on leadership roles in volunteer organizations to enhance their skills and effectiveness. Toni stresses the importance of maintaining a healthy work-life balance to prevent burnout and ensure overall well-being and set boundaries to make time for hobbies and family activities. “Burnout is real, and your life outside work will help you stay focused and less stressed.”
“Above all, stay resilient and persistent in pursuing your goals. Embrace new adventures and opportunities that come your way, as the accounting profession offers numerous branches and possibilities for growth and advancement.”
