CPA_Practice_Advisor_April_2020 - 31

AICPA NEWS
Survey Finds Flexible
Work Arrangements
Can Help CPA Firms
Recruit and Retain
Female Employees
U.S. CPA firms that offer modified work arrangements have
significant advantages in terms of recruiting and retaining female
employees, according to new research by the American Institute
of CPAs (AICPA).
Approximately half of firms
surveyed reported that flexible
schedules (56%), reduced
hours (50%), compressed
work schedules (49%) or
telecommuting options
(56%) helped attract
employees, while about
80 percent of firms said
those
arrangements
15
helped retain employees.
The AICPA's biennial CPA
Firm Gender Survey seeks to
understand how firms are working to address gender disparities and
advance women in the profession. In addition to
asking about working arrangements, the survey also questioned
firms about gender distribution on executive committees, formal
programs to advance women, and succession planning.
The survey found that 39% of firms monitor pay parity
between genders and 85% of those who monitor disparities
took action to close gaps.
Additionally, one in five firms offered unconscious bias training, with 59% of the firms with more than 100 CPAs offering it.
Among other findings of the survey:
■ The larger the firm, the more likely it is to have formal mentor and
sponsorship programs to help advance women and minorities.
■ Women in small firms (2-10 CPAs) comprise 53% of executive
committees but only 16% of firms with more than 100 CPAs.
■ An analysis of job titles found that women were nearly equally
represented or outnumbered men in CPA firms through the senior
manager level, after which the ratio declines.
■ Only 44 percent of firms have a succession plan, down from 47%
in 2017. But 6% included a gender component in their plan, up
from 2%.
■ For more information about gender initiatives and other
resources, visit aicpa.org/womenlead. ■

EMOTIONAL STRESS OF ELDER
FRAUD OUTWEIGHS FINANCIAL
IMPACT: AICPA SURVEY
A new survey from the AICPA found that
falling victim to fraud is much more likely
to have a substantial emotional impact (68
percent) on the elderly than a substantial
financial impact (32 percent).
CPAs have found that the stress and
emotional impact of fraud outweighs the
actual financial impact. By more than a 4
to 1 margin (68 percent vs. 16 percent),
CPA financial planners said the emotional
impact was substantial compared to
minimal.
The survey asked CPA financial plan-

ners what types of financial abuse or fraud
they've seen perpetrated on their elderly
clients, with phone or internet scams (75
percent) cited most frequently. This was
followed by the inability to say 'no' to
relatives (60 percent) and identity theft
(49 percent).
While any fraud and abuse against the
elderly is concerning, the survey found that
CPAs are seeing their clients victimized by
many of these scams at lower levels than
they were in 2015. ■

ASB's New Auditor
Reporting Standard
Provides Additional
Accuracy, Consistency and
Transparency
The AICPA's Auditing Standards Board (ASB) has issued Statement on
Auditing Standards No. 139, Amendments to AU-C Sections 800, 805,
and 810 to Incorporate Auditor Reporting Changes From SAS No. 134.
In the ASB's continuing effort to conform Generally Accepted Auditing
Standards (GAAS) to the new auditor reporting standards, SAS No. 139
aligns the following AU-C sections with the reporting provisions of SAS
No. 134, Auditor Reporting and Amendments, Including Amendments
Addressing Disclosures in the Audit of Financial Statements, and other
recently issued SASs:
■ 800, Special Considerations-Audits of Financial Statements Prepared in
Accordance With Special Purpose Frameworks
■ 805, Special Considerations-Audits of Single Financial Statements and
Specific Elements, Accounts, or Items of a Financial Statement
■ 810, Engagements to Report on Summary Financial Statements
SAS No. 139 is part of the auditor reporting suite of standards that
become effective at the same time as SAS No. 134, for periods ending
on or after December 15, 2020. Early implementation is not permitted.
Find out more about SAS No. 139 (https://tinyurl.com/ybvqtaoq - PDF).

APRIL 2020 ■

www.CPAPracticeAdvisor.com

https://www.tinyurl.com/ybvqtaoq http://www.aicpa.org/womenlead http://www.CPAPracticeAdvisor.com

CPA_Practice_Advisor_April_2020

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