august2022 - 34

AICPA NEWS
AICPA News is a round-up of recent
announcements from the institute.
IRS ISSUES AMONG TOP CHALLENGES
FOR CPA FIRMS, AICPA SURVEY FINDS
Difficulties in working with a resource-challenged Internal Revenue
Service have become a more pressing concern for CPA firms over
the past year, even as they grapple with lingering impacts from the
pandemic, a new survey by the American Institute of CPAs & Chartered
Institute of Management Accountants shows.
Frustrating dealings with the IRS - whether due to slow responsiveness,
backlogs or other performance issues - were cited as the top
challenge of smaller firms with 10 professionals or less, according to
the 2022 PCPS CPA Top Firm Issues Survey, sponsored by the AICPAs'
practice management section. It was at least a top three concern for
larger firm segments.
While IRS issues were cited as a top five challenge last year by
all firm segments except the largest (those with 21 professionals or
more), they have become a more prominent concern across the board.
As in past years, survey respondents were asked to rank nine
issues expected to have the greatest impact on firm practice operations
over the next five years. Recruitment/retention and changes in
the regulatory environment were two leading concerns.
Topline survey results were announced at AICPA & CIMA ENGAGE
2022, one of the world's leading conferences devoted to accounting
and finance. To learn more about PCPS and its resources to aid firms,
please visit the section's home page. ■
DAVID LIFSON HONORED WITH
PRESTIGIOUS AICPA KESS AWARD
David Lifson, CPA, a retired partner from Crowe LLP in New York,
is the recipient of this year's AICPAs Sidney Kess Award for Excellence
in Continuing Education. Presenting the award during AICPA
& CIMA ENGAGE 2022 was Sidney Kess, CPA, J.D., LL.M., for whom
the award is named.
Lifson has been a leader in Crowe's national global private client
service tax and business consultancy practice. He is passionate about
advising clients on managing various types of business change within
tax, economic and other related constraints, and dealing with the tax
compliance challenges that accompany change.
Lifson was the 2009 recipient of the AICPA's Arthur J. Dixon Memorial
Award, the accounting profession's highest award in the area of
taxation. He was awarded the Sustained Contribution Award in 2011,
which recognizes members of the Institute who have contributed
immeasurably to the AICPA and the CPA profession through their
volunteer services.
He is a former president of the New York State Society of CPAs
and has served in various capacities on its behalf. In addition, he
chaired the Small Business and Self-Employed sub group of the
Internal Revenue Service's Advisory Council (IRSAC). He is a frequently
published author, teacher and spokesperson on various tax topics,
nationally and internationally. ■
34 AUGUST 2022 ■ www.CPAPracticeAdvisor.com
NASBA, AICPA, PROMETRIC EXPAND INTERNATIONAL
CPA EXAMINATION TESTING
LOCATIONS, EFFECTIVE JUNE 2, 2022
The National Association of State Boards of Accountancy (NASBA), AICPA,
and Prometric recently announced that qualified Uniform CPA Examination
candidates applying to participating jurisdictions will have the option of
testing at any international location where the CPA Exam is currently
offered. This became effective on June 2, 2022.
Testing eligibility for qualified international CPA Exam candidates was
previously determined through jurisdictions participating in the international
administration of the CPA Exam and limited to sites based on a
candidate's residency and citizenship.
This change will offer greater flexibility for international test takers
and encourage more international residents to consider pursuing their
CPA designation and careers in the accounting profession.
For additional details on administration of the CPA Exam and approved
international testing locations, visit https://nasba.org/internationalexam.
Accountants are Well Positioned
to Deliver New Services Advancing
Business Integrity, AICPA CEO Says
The accounting profession is seeing
increased value and growth in its services,
but the stakeholders it serves are demanding
more than ever in a volatile business
environment, senior leaders of the AICPA
& CIMA and CPA.com said during a panel
presentation at ENGAGE 2022.
The profession is at a defining moment,
Some key growth areas include:
■ Building capabilities for digital finance.
Technology and finance are increasingly
intertwined, and management accountants
need to bring new skills to bear to
deliver data-driven insights to businesses.
with businesses seeking advice and assurance
on a broad range of areas beyond
financial statements, from sustainability to
integrated tax planning to the transformation
of the finance function, AICPA President and
CEO Barry Melancon, CPA, CGMA, said during
the session at AICPA & CIMA ENGAGE,
one of the world's leading events dedicated
to accounting and finance.
To realize its potential, the accounting
profession must continue to raise the bar
on innovation, standards, trust and integrity,
he said. " The pace of change is daunting but
the ability of the profession as a whole to
adapt and evolve is really what will set us
apart, " he said.
■ Preparing the profession for ESG. Businesses
and regulators are increasingly
focused on environmental, social and
governance (ESG) issues, such as climate
risk and diversity and inclusion, among
other topics.
■Maintaining momentum on client advisory
services (CAS). CAS is the fastest growing
category in public accounting, and the
pandemic proved it's not just a strategic
service line but " almost a must-have, "
said Erik Asgeirsson, president and CEO of
CPA.com, the AICPA's business and technology
arm. CPA.com has workshops and
other resources for firms to elevate their
practices to " CAS 2.0, " a suite of services
with more advanced capabilities. ■
https://www.nasba.org/internationalexam http://www.CPA.com http://www.CPA.com http://www.CPA.com http://www.CPAPracticeAdvisor.com
august2022

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