New world, new skills finance professionals need

Even before the pandemic, digital transformation and new ways of working were significantly influencing the skills and capabilities finance teams need. The coronavirus pandemic accelerated that need as people and businesses sought digital experiences and solutions more than ever.

3 steps NFPs can take to prepare for continued uncertainty

A year has passed since COVID-19 began its worldwide disruption, but the full effects have not yet been realized. The anniversary prompts us to pause and consider where we’ve been and where we’re going. A recent Not-for-Profit Section webcast offered key takeaways to help not-for-profits (NFPs) manage current disruption and prepare for changes yet to come. The overarching theme? Plan for the worst, prepare for the best.

How to implement diversity and inclusion throughout your firm

Embracing diversity and practicing inclusion is critical to the success of your firm. Welcoming different perspectives and creating a true sense of belonging for everyone is how you build strong teams.

Many of us are familiar with the concept of diversity as including people of varying race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information and protected veteran status.

Inclusion, as a concept, can be more difficult to grasp and, therefore, challenging to implement.

Organizations have varying roles, and steps must be implemented at each level for the company to achieve diversity, equity and inclusion (DEI).

AICPA & CIMA: Working harder than ever to help you stay ahead

One year ago, we were still in the early days of the COVID-19 pandemic. Everything around us was changing, and the crisis thrust our profession into a new way of working seemingly overnight.

In this disruption, you never wavered. You adapted to the unpredictable environment, evolving what you do and how you do it to lead your clients, businesses and communities through the crisis. Because of your work, we’re on the path of economic recovery. And because of you, our profession not only endured, but it became more agile, influential and trusted than ever before.

Over the years, our profession has faced many challenges, but we’ve thrived because we have not bent to change — we’ve embraced it. The key to our continued success is our ability to adapt, innovate and grow no matter the circumstances.

That’s exactly what the Association of International Certified Professional Accountants (the Association) is doing. We’re building on our successes and embracing change to continue supporting you during this crisis and whatever lies ahead.  

3 EBP audit considerations in 2021

I’m sure many of us relate to the “one-year-later” pandemic fatigue prominently featured in the news. I’ve heard from several members about difficulties connecting with and supervising remote audit teams while dealing with life during a pandemic.

Because I once was an employee benefit plan auditor, I understand your pain. EBP auditors must know and adhere to U.S. auditing standards, plus follow additional U.S. Department of Labor requirements. There are many changes for the EBP auditor to master this year.

How are states dealing with the unemployment benefit exclusion?

Millions of people lost their jobs and filed for unemployment benefits each week for the past year. There are10 million Americans still unemployed, according to the latest Labor Department statistics. After a hard year during the pandemic, many people couldn’t wait to get their taxes done to close the chapter on 2020 and start fresh in 2021.