Journal of Accountancy Podcast AICPA & CIMA

Sara Lord, CPA, is chair of the Auditing Standards Board (ASB), which recently issued a new standard that completes the suite of quality management standards ahead of an important implementation deadline in late 2025.
Lord, who discussed advice for firms on implementing the standards on a JofA podcast episode in 2022, joined the show again last week to talk about the end of a journey.
In this episode, Lord details the terminology changes made official by the ASB’s May 14 vote.
In the conversation, there is a mention of the standard being available sometime in June. Since recording, the link has gone live and is available here: Statement on Standards for Attestation Engagements No. 23.
What you’ll learn from this episode:
·         An explanation of the changes implemented by the ASB in a May vote.
·         Why the May vote marks “the end of a standard-setting journey.”
·         Why Dec. 15, 2025, is an important date for implementation of the standards.
·         Implementation guidance, including where to find resources.
·         The sense of “rejuvenation” Lord feels each year at ENGAGE.
 

Ken Witt, CPA, CGMA, AICPA & CIMA associate director–Management Accounting Research and Development, explains in this JofA podcast episode why finance decision-makers in the second-quarter Business and Industry Economic Outlook Survey are less optimistic now compared with the first quarter.
Witt summarizes the survey results, including CPA decision-makers' expectations for revenue and profit increases and the top challenges facing them and their businesses.
What you’ll learn from this episode:
·         Why Witt says the outlook this quarter is “mixed.”
·         An overview of respondents’ sentiment about the domestic and global economies.
·         The “signs of strength” in KPIs, including revenue and profit projections for the next 12 months.
·         One metric that Witt will monitor in the third-quarter survey results.

Anoop Mehta, CPA, CGMA, is the chair of the selection committee that will choose the next AICPA & CIMA CEO. Mehta, a former AICPA chair and Association of International Certified Professional Accountants chair, discussed the qualities the organization seeks in its next leader, a planned timeline for the selection committee, and the importance of knowledge transfer.
The CEO chosen will replace Barry Melancon, CPA, CGMA, who on May 22 announced his retirement, effective at the end of the year.
Mehta, who recorded the episode at AICPA & CIMA ENGAGE, also shared why he thinks prospective CPAs should attend the annual event in Las Vegas and why he expects to continue meeting with accounting students.
Resource: AICPA & CIMA CEO job description
What you’ll learn from this episode:
·         A planned timeline for hiring the next CEO.
·         The qualities being sought in the next leader.
·         Mehta’s explanation of how a strong leader can balance openness to hearing others’ perspectives with making an unpopular decision.
·         The importance of the Association chair and co-chair in the selection process.
·         The state of talent development and why Mehta says he gets “energized.”

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.