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Hot off Ohio’s governor signing into law a bill that introduces a bachelor’s only pathway to CPA licensure in that state , a pair of Illinois representatives have introduced a bill that would do the same for aspiring CPAs in their state. And the Illinois CPA Society is cheering it on.
Big 4 alum and professor of accounting and finance at the College of Saint Benedict and Saint John’s University in Minnesota Boz Bostrom has penned a piece for the MNCPA blog on why, in his opinion and supported by research, the 150 hour rule must change. This has been my challenge with Minnesota. The result is 26.4
Rather, how dueling factions within the profession are fighting for and against keeping it as the only option to CPA licensure. Companies, not just CPAfirms, are struggling to fill senior accountant roles and jobs for accountants with three to five years of experience. This has been my challenge with Minnesota.
” Complying with the Corporate Transparency Act [ CPA Journal ] By now, CPAs should be aware of the Corporate Transparency Act (CTA), passed in 2021 and effective January 1, 2024. But until a deferral is confirmed, CPAs must consider which role they will serve for clients required to file when the CTA becomes effective.
Bill to let state agencies bypass State Auditor and hire private CPAs tabled [ RadioIowa ] A bill that would have let state agency budgets be audited by private CPAfirms rather than the State Auditor’s Office has stalled in the Iowa House. Fifty-one percent oppose the proposal, compared with 43% who are in favor. Education Sen.
The American Institute of CPAs has released information for accounting professionals on the potential impact to their out-of-state engagements if pending state bills altering licensure requirements are enacted. For more information, please visit the AICPA’s resource page on protecting CPA mobility.
CPAfirms constantly seek ways to boost efficiency, enhance client satisfaction, and drive growth. While technology and strategies play crucial roles, one often overlooked element can be the key to unlocking your firm’s full potential: document management.
I enjoyed my time with PWB CPAs & Advisors in Minnesota this week. Of course, I wasn’t there in person but speaking to their entire team (via Teams) about CPAfirm communication was still a joy for me. Another week has passed by so quickly and things are changing at that same quick base.
.” Barnes Dennig, one of Cincinnati’s largest accounting firms, merges with Indianapolis company [ Cincinnati Business Journal ] One of Greater Cincinnati’s largest accounting firms is getting bigger. Downtown-based Barnes Dennig has finalized a transaction to merge an Indianapolis CPAfirm into its operations.
It exists to take the pain out of processes and let professionals working in CPA fi rms and businesses comply with regulations, drive productivity, and better engage with key stakeholders. IRIS has over 100,000 UK and international customers, with 80% having a tenure of five or more years.
With their leadership, I look forward to our continued journey creating the advisory CPAfirm of the future, today.” Ackerman, CPA Assurance – Real Estate and Construction (Washington, D.C.) Drysdale, CPA Tax – Private Client Services (Dallas, Texas) Heather M. Groppoli, CPA Assurance (Minneapolis, Minnesota) Sheanne M.
Guillermo (00:02:04) – And like most CPAs, I think I had the opportunity to go into industry or public accounting when I graduated college and I decided to go into industry and got my CPA. Visit our website SummitCPA.Net to get more tips and strategy for achieving modern CPAfirm success.
While CPAfirms continue to have difficulty finding and retaining qualified accountants, the NASBA continues to defend the 150-hour rule. If workplace training trumps college credit in terms of a CPA candidate’s professional development, then such training should be validated by the NASBA. Clearly, they are not.
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