Journal of Accountancy Podcast AICPA & CIMA

Trisha Nomura, CPA, CGMA, and Abel Soares III, CPA/PFS, don’t live far from each other, but they didn’t know the other’s story until Soares was featured in an AICPA & CIMA Member Spotlight Series video.
They joined the JofA podcast recently to discuss how connecting has led to mutual admiration — and opened up new ideas for mentoring. The episode is in recognition of Asian American Native Hawaiian/Pacific Islander (AANHPI) Heritage Month and intended to celebrate the diverse voices of the profession.
Resources
n  AICPA & CIMA home page for diversity, equity, and inclusion
n  Full index of the Member Spotlight Series focused on diverse voices:
What you’ll learn from this episode:
·         How Nomura and Soares learned that they were essentially neighbors.
·         The background of each CPA and why it matters — particularly this month.
·         Their advice for fellow accountants on being more entrepreneurial.
·         The inspirational emails Nomura has received after speaking to students about accounting.
·         Why Soares wanted to go “beyond the numbers” with his firm’s focus.
·         Their ideas for helping to grow the profession.

Marty Finn, CPA/PFS, J.D., LL.M., is an ENGAGE co-chair, focusing on tax, personal financial planning, and estate planning topics for the event, which begins June 3. Finn got his start on conference committees after meeting Sid Kess, a legendary tax practitioner and mentor who died in September at age 97.
The advice of Kess has stuck with Finn, and Finn believes that an emphasis on top-notch speakers and topics is what has made ENGAGE and its predecessor events valuable to CPAs for years.
Resources:
ENGAGE registration information and agenda A remembrance of Sid Kess, by Andrea Millar, CPA/PFS “Summing Up Sid” podcast episode from September Longtime AICPA CEO Barry Melancon announces his retirement What you’ll learn from this episode:
First, a word on the news of the week: AICPA CEO Barry Melancon announces plan to retire. Melancon is scheduled to be at ENGAGE, a signature AICPA event that Finn looks forward to each year. Finn’s explanation of the Sid Kess Rule. The topics that are expected to be addressed in a panel discussion that Finn will moderate. The importance of, and timeline for, the sunset of several key provisions of the legislation known as the Tax Cuts and Jobs Act. Why Finn says that the opportunities for tax-focused CPAs in the area of advisory services will continue to grow. One last bit of Kess advice for getting the most out of conference attendance.

Ami Beers, CPA, CGMA, senior director–Assurance & Advisory Innovation for AICPA & CIMA, joins the JofA podcast for this episode to guide CPAs on how to approach the new SEC rule on climate-related disclosures.
The SEC adopted the rule March 6. But, about a month later, it put a stay on the rule’s implementation, in response to multiple legal challenges to the rule. Some argued that the SEC overstepped its authority, and others said the SEC didn’t do enough.
Either way, it’s likely the rule will affect corporate reporting going forward, despite the lack of clarity now. Beers explains that and more, underscoring the importance of not waiting to understand the rule.
Resources
n  May 23 webinar mentioned by Beers
n  AICPA and Center for Audit Quality summary document
n  JofA March 6 article on rule adoption
n  JofA March 14 need-to-know summary 
What you’ll learn from this episode:
·         Ami Beers’ rundown of the recent timeline of sustainability reporting and the SEC’s adoption of its rule on climate-related disclosures.
·         What the data, in multiple surveys from the AICPA and the International Federation of Accountants, shows about companies’ reporting on climate information.
·         What’s next regarding the legal challenges affecting the rule.
·         Why Beers said “there’s a lot to unpack” regarding the rule.
·         Why, despite legal hurdles, Beers believes the rule should remain on CPAs’ radar.
·         The importance of legislation in the European Union and California on climate-related reporting.

Tax filing season can be a marathon, or it can be a sprint to the finish. Either way, the collective sigh of relief is real. Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, reflected on the last filing season and addressed advocacy items to watch in this episode of the Journal of Accountancy podcast.
Lauridsen, in her third tax advocacy update of 2024, discussed the latest on employee retention credit (ERC) claims, including an eye-popping cost estimate. She also shared advocacy updates and looked ahead to the rest of 2024.
In her previous podcast update, Lauridsen focused on clearing up confusion related to beneficial ownership information reporting.
What you’ll learn from this episode: 
·         The comparison of tax season to a two-hour marathon.
·         Why this was the first tax season in many years with “a smooth runway” for filing.
·         Lauridsen’s reaction to the comment by IRS Commissioner Danny Werfel about receiving 20,000 ERC claims per week.
·         Advocacy topics of note for this year and beyond.
·         Lauridsen’s analysis of a tax bill now in the Senate.
·         Why it is nearly guaranteed that tax changes are coming, even if the current bill never makes it out of committee.

Roger Kenyanya, vice president of finance at home improvement store Lowe’s, took part in the inaugural AICPA and CPA.com AI Symposium about three months ago in New York. Why did he refer to the event as a “humbling, full-circle moment” in a LinkedIn post? Find out on this episode of the JofA podcast.
Kenyanya, a member of the Future of Finance Leadership Advisory Group, shares how both the finance function and overall business are harnessing the power of AI. He also details his career journey and notes how the skill sets of next-generation finance employees will change.
What you’ll learn from this episode:
·         The “significant milestone” in Kenyanya’s career — in his junior year of college.
·         Kenyanya’s path to his current role as a finance leader at Lowe’s.
·         His takeaways from a January symposium about AI.
·         Some of the ways AI is being harnessed at Lowe’s.
·         How the skill set for tomorrow’s finance employees is changing and the three-pronged focus of that shift for Kenyanya and Lowe’s.
·         The peer “platform to collaborate” that Kenyanya said is valuable.

Danielle Supkis Cheek, CPA, vice president and head of Analytics & AI for Caseware, had an interesting way to continue her exploration of the ethics of using AI tools in accounting: She asked ChatGPT to give her an answer.
The response helped in her assessment of such tools. She shared more about that result — and answered our questions — in this episode of the JofA podcast. 
What you’ll learn from this episode:
·         What a well-known generative AI tool had to say about the risks of using large language models in accounting.
·         The surprising thing an early version of ChatGPT said about Supkis Cheek.
·         The top-of-mind AI ethics concerns for the accounting profession.
·         How the development of smaller-scale language models, with accounting specifics, can improve confidence in large language models.
·         An explanation of the MAYA principle as it relates to AI.
·         Thoughts on taking a “measured approach” when it comes to AI auditing.