AI got you anxious? While artificial intelligence brings questions and concerns, there’s no denying the outsize impact it is already beginning to have on the accounting field. Check out these five AI takeaways from the first-ever AI Symposium hosted by the American Institute of CPAs and CPA.com.
A vast majority — 80% — of employers will be modernizing leave policies and programs in the next two years, according to a WTW report. With talent challenges the No. 1 reason for revamping programs, employers of all sizes aim to enhance engagement and the employee experience. Here are areas your employer could potentially make changes:
As the CPA profession engages in questions related to how best to train and license CPAs, legislation in different states could affect mobility (the ability of CPAs to practice across state lines).
The American Institute of CPAs (AICPA) has developed guidance to empower CPAs and firms to navigate compliance implications in case proposed legislation changes a state’s CPA licensure requirements.
The interstate practice compliance checklist (downloadable here) contains an overview of the types of compliance information to help CPAs and firms assess and manage potential impacts when practicing across state lines.
CPA mobility allows licensed CPAs almost complete freedom to practice outside their state, virtually or in person, without obtaining another license. Changes in a state’s licensure requirements could mean that CPAs licensed in the state with altered criteria no longer meet the necessary standards to fulfill “substantial equivalency,” which underpins the concept of mobility. Consequently, the ability to practice outside of those states, in person or virtually, could be at risk and become more complex, resulting in a loss of mobility for CPAs.
For more information about mobility, check out the AICPA’s Protecting CPA Mobility webpage.
