Latest news with #AICPA
Associated Press
4 days ago
- Business
- Associated Press
MicroAge Successfully Completes SOC 2 Type 1 Examination
Successful SOC 2 Type 1 Audit Confirms MicroAge's Adherence to Trusted Security Standards for Its Management Services PHOENIX, ARIZONA / ACCESS Newswire / June 24, 2025 / MicroAge, a leading full-service solutions integrator, today announced that it has successfully completed the System and Organization Controls (SOC) 2 Type 1 examination for its Management Services. The examination conducted by Johanson Group, LLP found that MicroAge achieved its service commitments and system requirements as measured by the SOC 2 criteria for security, demonstrating MicroAge's ongoing commitment to providing a secure data environment for its SOC 2 Badge Developed by the American Institute of Certified Public Accountants (AICPA), the SOC 2 framework is used to examine an organization's controls in place to protect and secure its systems and services. The robust requirements of this security management framework ensure adherence to best practices for securing assets, including corporate information, intellectual property, associate information, and information entrusted to third parties. As organizations increasingly rely on outside partners to perform activities that are core to their business operations and strategy, there is a growing need for greater trust and transparency in cloud service providers' operations, processes, and results. This certification confirms that MicroAge has met rigorous standards in ensuring the security and availability of data and systems, as defined in the SOC 2 framework's Trust Services Criteria (TSC). Building on this momentum, MicroAge is also proud to announce the launch of our new Trust Center website, designed to provide our clients with real-time visibility into our cybersecurity compliance and data protection practices. This initiative reflects our ongoing commitment to transparency, trust, and safeguarding the digital ecosystem we support. 'Achieving SOC 2 Type 1 marks a key milestone in the evolution of our security program,' said Alex Ryals, Chief Information Security Officer at MicroAge. 'It reflects the maturity of our controls and our commitment to delivering secure, tech-enabled services - from cybersecurity and Microsoft solutions to data intelligence and IT services.' MicroAge intends to continually execute and improve its internal controls, providing consistent assurance to its clients through an annual SOC 2 report. About MicroAge MicroAge is an award-winning full-service solutions integrator. For nearly 50 years, MicroAge has empowered businesses to advance, secure, accelerate, and transform - moving quickly with technology changes across the channel to drive business forward. Our elite, highly certified team of specialized consultants brings unique expertise to our clients in cybersecurity, data intelligence, technology implementations, managed IT services, and more. Visit to learn more. Contact InformationKate Sneider Vice President, Marketing 480-366-2070 SOURCE: MicroAge press release
Fast Company
18-06-2025
- Business
- Fast Company
Can tech and AI empower accounting teams and bridge talent gaps?
The 2025 tax season was relatively unremarkable as Congress, the Department of the Treasury, and the Internal Revenue Service took no significant action from a legislative or regulatory perspective. However, this didn't lessen the load for U.S. tax and accounting professionals who worked tirelessly to file more than 144 million tax returns, an increase of 1.4% over 2024. In fact, the year's filing statistics were up in almost every category. Between increasing demands for expertise and execution and the industry's well-known talent shortage, tax and accounting professionals must contend with ongoing strain. At Wolters Kluwer, we surveyed more than 2,300 tax and accounting professionals to learn their thoughts on industry trends, challenges, and opportunities. Through this Future Ready Accountant Report, we found that 41% of respondents are concerned that persistent talent shortages will threaten continued growth. They're right to worry; according to the most-recent data from the American Institute of Certified Public Accountants, nearly 75% of the CPA workforce has already met retirement age. The good news? Accounting teams can leverage the technology tools in which they've already invested, as well as AI solutions, to successfully weather this stubborn talent drought and improve efficiency. Fully integrated technologies can help tax and accounting firms reduce redundant work and automate time-consuming, manual tasks like data entry and basic tax prep. That's especially valuable when trying to recruit and retain early-career professionals. Less time spent on lower-value, repetitive tasks means creating more capacity to get involved in more challenging, strategic advisory work faster. Even so, not all firms are using the full breadth of their tech stack's current capabilities. To stop leaving tech stack value on the table, firms should audit and map their current systems and processes, from client intake to final billing and everything in between. The goal is to identify redundancies, data silos, and manual workarounds that could be automated. Key questions to ask during this process include: • Which of our processes are still manual? • Do our core systems and tools integrate with each other, or are we double-entering data? • How often are staff switching between platforms to complete a single task? • Are we using all the features we're paying for? With answers in hand, firms can work with tech providers to close gaps and fully leverage their tools. When technology is used as a true force multiplier, firms are better equipped to overcome the talent shortage. They can become more agile and efficient environments where employees can focus on high-value work, not mundane tasks. CLOUD SOLUTIONS ARE CHANGING THE WAY FIRMS WORK Daily office commutes are fading fast, and firms competing for scarce talent need to embrace that. According to a 2023 Illinois CPA Society survey, respondents ranked 'flexible hours' and 'remote work' as the second and third most attractive employer benefits, after salary. That said, 29% of firms still operate fully in person and haven't fully embraced cloud solutions that enable flexible work. Concerns about migration costs and complexity keep many of these firms on the sidelines. But viewing cloud migration solely as an IT issue misses the bigger picture: it's a strategic move for attracting and retaining top talent. The transition starts with identifying reputable cloud-based tech vendors with proven industry experience, secure protocols, and strong integration support. Firms can then collaborate with their tech partners to develop a step-by-step cloud migration roadmap. Equally important is investing in staff training and change management. This helps ensure the broader team understands the 'what's in it for me' benefits of moving to the cloud—expanded capacity, improved flexibility, and a modern, more agile work environment. When looking at tax professionals working at large firms (with 50+ employees), 76% feel optimistic about AI, and 56% report they're already using it. Most want AI to handle low-value tasks, like standard client communication, document scanning, data extraction, and research. Tech-powered efficiency leaves more time for critical thinking, strategic advisory, and building stronger, more profitable client relationships. In a talent-strapped field, that translates directly into increased retention and higher employee satisfaction. To best leverage AI, firms should identify high-volume, repeatable tasks that are ripe for automation, then explore AI-powered features already built into their existing tools. Piloting AI in a single workflow—such as document intake or client Q&A—can help teams build comfort and spot early wins. It's vital that they share those early results with firm leaders and other employees to help build trust, demonstrate value, and inspire broader AI adoption. Tax and accounting firms face a clear challenge: growing demand despite a shrinking talent supply. The firms best positioned to thrive are leaning into technology—integrating their tech stacks to empower their staff to practice at the top of their license, migrating to the cloud to enable flexibility, and using AI to reduce repetitive work. Together, these strategies don't just boost efficiency. They create the kind of modern, agile work environment today's professionals want to be part of. And in a tight talent market, that can make all the difference.
Miami Herald
14-06-2025
- Business
- Miami Herald
Why the US is stronger than you think – and what that means for a world on edge
Contrary to common belief in the last two decades, the U.S. is not in decline militarily, economically, or technologically - at least according to GZERO Media founder Ian Bremmer. In a speech delivered at the AICPA's annual conference, Bremmer detailed significant global geopolitical shifts and their implications, focusing on the role of the U.S. and the emergence of new populist trends. Bremmer, who also founded political risk research and consulting firm Eurasia Group, noted a major geopolitical shift over the past 20 years as the U.S. became asymmetrically more powerful than its allies such as Europe, Japan, South Korea, Canada, Australia, and New Zealand. These allies, he said, have weakened demographically, technologically, and due to underinvestment in defense and productivity. "The United States is actually not in decline," he said. "Not militarily, not economically, certainly not technologically, and increasingly dangerous global order. The U.S. is in by far the most stable part of it geographically." Don't miss the move: Subscribe to TheStreet's free daily newsletter In fact, he noted that, currently, only two countries are technologically dominant: China in post-carbon energy (nuclear, solar, EVs, supply chains, critical minerals) and the U.S. in artificial intelligence (hyperscalers, chips, compute). At present, the primary driver of global uncertainty and geopolitical volatility that "feels so dangerous to people is that the most powerful country in the world has decided that they, we, do not want to play the leadership role by the old rules." From Bremmer's perspective, that means saying "no" to U.S.-led collective security, a global trade system shaped by Washington, and American-backed international law and democratic values. And this change, he said, "profoundly impacts U.S.-aligned democracies that relied on this leadership." Image source: Eric Tompkins on Unsplash Before reports emerged of Israeli strikes on Iran's nuclear and military sites, Bremmer said the U.S. was strategically using leverage to push Iran toward a nuclear enrichment deal – a key priority for President Trump. Bremmer noted Iran's weakened position, citing setbacks involving Hezbollah, Bashar al-Assad, and Hamas, along with Gulf States' support for a deal, as factors making an agreement more likely. He acknowledged the possibility of Israeli military action if Iran delays but maintained that a deal remains the expected outcome. Trump's recent warning of "even more brutal" attacks if Iran refuses a deal may further increase pressure on Tehran. According to Bremmer, Trump's success stems from identifying "exactly what the pain points are for the bulk of the American population: ending wars, achieving fair trade, and securing borders. "His positions on these issues," Bremmer said, "are more popular than the Democrats." To be fair, Bremmer said Trump has "almost no interest in the specifics of policy." And unlike in his first term, President Trump now appoints individuals fiercely loyal to him, not necessarily to the Republican party or establishment, Bremmer said. "They may be great, really smart, they may not, but they are going to be fiercely first and foremost loyal to [Trump]," said Bremmer. Related: These are the most tax-friendly states if you work in retirement The president also relies heavily on his own judgment, believes he is always right, externalizes blame, and is less concerned about market reactions. "He's completely convinced that he's right on these issues," said Bremmer. "If things go wrong, it is someone else. It is not him." What's more, his top advisers are much less likely to tell him when they disagree, leading to a lack of critical feedback. "Trump is less concerned about market reaction to what he is doing than he was [in his] first term," said Bremmer. "So, he's more willing to see a longer period of economic impact." And "he's much less aware that anything he's doing might be problematic because he's not hearing it from his top advisers." The new global driver is the U.S., the most powerful country, willing to use its leverage, not lead historically, and unconcerned about whether it causes pain in other parts of the world. That same approach is also reshaping global trade dynamics. Bremmer noted, for instance, that the International Trade Court's ruling against Trump's broad use of emergency tariff powers under AIPA will prolong uncertainty in global trade – something "markets hate" - as the case likely heads to the Supreme Court, with a decision expected by late fall or early winter. Regardless of court rulings, Bremmer predicted that blended U.S. global tariffs will rise to 12-15% (1940s levels), a cost not yet priced into markets. He said this would lead to supply chain disruptions, potentially resulting in empty shelves at retailers over the summer, causing panic and increasing trade tensions. "Most of the things out there that we buy are not yet affected by the supply chain challenge you're about to see," said Bremmer. "They will over the course of the summer. You won't get stuff on Amazon Prime. You'll go to Walmart. A lot of shelves will be empty. That will cause a level of panic and unease and anxiety." Bremmer also noted that Mexico is capitulating to U.S. demands on issues like fentanyl and illegal immigration due to its heavy reliance on the U.S. economy (over 80% of exports to the U.S.). And Canada, despite a new politically consequential prime minister, is structurally built for North-South trade with the U.S., making a significant pivot away difficult due to its infrastructure and provincial power. Bremmer said Trump has realized "he's not getting a deal" with Putin. As a result, he's now prepared to continue supplying intelligence and weapons to Ukraine. Related: How the IRS taxes Social Security income in retirement Meanwhile, European allies are ramping up defense spending – NATO targeting 5% of GDP, the UK at 3.5%, and Canada at 2% - largely under pressure from Trump. "NATO will be stronger," Bremmer said. The downside: the war isn't ending anytime soon. Sanctions on Russia will remain, and Bremmer warned that Moscow is likely to escalate its attacks, "killing more Ukrainians." According to Bremmer, recent interactions, including a call between Trump and Xi Jinping, are stabilizing but do not represent a breakthrough. "I wouldn't call it positive," said Bremmer. "I would call it stabilizing. It's less negative than what we've seen for the last few months." The U.S., he said, remains focused on export controls for semiconductors and pressuring allies to choose the U.S. over China in advanced technology. But China is in a "wait and see" mode, believing that U.S. actions (undermining allies, making itself less attractive for high-skilled immigration) will ultimately benefit China long-term. "They know that this is going to cause more economic pain to China than the U.S.," said Bremmer. "But they also feel like they are politically stronger. They're more patient. They can wait the Americans out." So Bremmer's bottom line: "I do not believe that we are set for a U.S.-China breakthrough." While not a bond market expert, Bremmer said Trump's quick reversal on firing Fed Chair Powell shows that the bond market remains a "clear red line" for Trump, given the potential for severe fallout. "The one area where Trump was hit in the face hard by everyone and backed off completely was when he said, 'I'm thinking about firing Fed chair Powell,'" said Bremmer. "I think that that does say something – that even in this environment, where Trump is more willing to push and is getting less information, there still are some clear red lines. And this is a clear red line." Despite high debt, Bremmer said the U.S. benefits from its reserve currency status, technological dominance, and military umbrella, making it difficult for other countries to "derisk" from the U.S. Bremmer suggested that in the age of exploding AI, short-term spending as much as humanly possible might be market and geopolitically positive for the U.S., provided it's spent wisely (e.g., chips, education). While historically overdue for a recession (averaging every seven years post-WWII), the massive Covid stimulus and the unprecedented growth of AI capabilities (doubling every six months) could fundamentally alter economic cycles, making traditional definitions of recession less applicable, said Bremmer. It is "inconceivable," said Bremmer, for the U.S. to return to being a manufacturing economy as it once was. "The U.S. is not a manufacturing economy anymore," he said. Any new manufacturing will be driven by robotics, automation, and AI, requiring far fewer workers, which could ironically put more pressure on existing manufacturing labor. This shift is part of broader "incoherent, angry, anxious" movements that will focus on economic displacement. Bremmer suggested that likelihood of war in the near term is "very low." China aims to appear "more responsible and more stable" while the U.S. undermines its own allies. However, China will continue to squeeze Taiwan's leadership with military exercises and economic sanctions, said Bremmer. This remains a long-term concern, but not for the immediate future. Bremmer stated definitively that Trump has never said he will run again and is not running again, despite media questions. Bremmer also believes Elon Musk understands he "damaged his interests" by fighting with Trump, and "that getting into a long-term fight with Trump was unsustainable." And Musk, according to Bremmer, is expected to support Trump's political goals and candidates in the midterms. The Democratic Party is not expected to settle on a coherent platform until closer to 2028 due to a broad range of views among potential leaders, according to Bremmer. And the midterm elections will be a decision about Trump. While Trump is currently doing well on immigration and the economy, his economic standing is expected to weaken over the summer due to trade issues, said Bremmer. What's more, a much stronger push to the economic populist left is anticipated, a phenomenon not seen since the post-Gilded Age. According to Bremmer, current populism from the right is driven by disaffected industrial working-class men in former industrialized places like Appalachia, the Rust Belt, and former East Germany, focusing on manufacturing and anti-immigrant sentiment. Bremmer predicts an enormous spike of populism from the left in the next electoral cycle, driven by college-educated, urban, white-collar professionals losing jobs due to AI. This movement, he said, will be more progressive on cultural issues but strongly opposed to the "deep state," major corporations, banks, and technology companies. Got questions about retirement, email Stagflation Risks: Shield Your Retirement Portfolio The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
10-06-2025
- Business
- Yahoo
AICPA and CIMA revise CGMA syllabus for 2026
The AICPA and CIMA have introduced a major enhancement to the CGMA Professional Qualification syllabus, which will be implemented in 2026. This update is intended to equip accounting and finance students with the necessary skills to meet the evolving requirements of the contemporary workplace. The revised syllabus centres on strengthening the role of finance professionals as 'high-impact business partners' within businesses. It underscores the importance of utilising technology and employing 'critical thinking' to generate value for organisations. These modifications are based on insights from AICPA and CIMA's Future of Finance 2.0 research, as well as findings from CFOs of Fortune 500 companies and the World Economic Forum's Future of Jobs Report 2025. The focus is on merging technological expertise with human insight to effectively navigate the knowledge economy. During the recent Gartner CFO conference, it was reported that 79% of CFOs feel that employees need to reconsider their approach to their roles. This highlights the necessity for finance professionals to adapt to the shifting landscape of their responsibilities. Significant updates to the syllabus include improved competencies in business collaboration, strategic planning, and the incorporation of financial technologies such as generative AI. A novel problem-solving methodology will enable finance professionals to offer expert guidance and assist in strategic decision-making. Crucially, these syllabus revisions will not affect students who are preparing for CGMA examinations in 2025. This ensures a seamless transition for current students while aligning future professionals with industry demands. AICPA and CIMA External Relations - Business Engagement and Growth director Barry Payne said: 'This syllabus update represents a major shift from traditional accounting education, which has long focused on information preparation, controls, and compliance—areas now increasingly automated by technology. 'The CGMA Professional Qualification empowers professionals to redefine their identity and enhance their value, while also helping employers build a more agile talent pipeline. 'It supports career development through a lattice of experiences, aligning with both succession planning and evolving business needs.' "AICPA and CIMA revise CGMA syllabus for 2026" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
RTÉ News
10-06-2025
- Business
- RTÉ News
FinReg announces strategic partnership with CPA.com in the US
FinReg Global Solutions has announced a strategic partnership with the business and technology arm of the American Institute of Certified Public Accountants (AICPA). The software solutions company and innovator in RegTech said it aims to deliver QMCore, a powerful new quality management platform designed to help audit firms meet evolving regulatory standards. Founded in 2017, FinReg is headquartered in Sandyford Industrial Estate in Dublin. The announcement marks a major achievement for FinReg. The AICPA is one of the largest professional accounting organisations in the United States, representing a market of over 46,000 accounting and audit firms with the new partnership giving FinReg immediate access to 18,000 of these firms. FinReg said is also the first Irish company to achieve Preferred Partner status with QMCore was developed in Dublin and is a scalable, cloud-based solution that simplifies compliance with new quality management standards such as SQMS No. 1 and QC 1000. It provides firms with a centralised system to manage risk assessment, assign responsibilities, and maintain a complete audit trail, while reducing administrative burden. David Butler, CEO of FinReg Global, said: "We are delighted with this long-term strategic partnership and it is a great outcome for us to have QMCore recognised as the preferred provider of a quality solution for an organisation such as The partnership reflects our commitment to delivering compliance-driven innovation that empowers firms to meet the demands of modern regulation." The partnership marks a significant milestone for FinReg, positioning the Irish company at the forefront of global audit transformation.
