One of the most impactful, yet most underutilized, tools to drive a business forward is data analytics. While at the NJCPA Convention & Expo in June, host Sean Stein Smith, CPA, sat down with Melissa Dardani, CPA, to discuss the positive impact that data analytics, automation and other tech trends can have on the accounting profession and businesses. 

Resources:

• Data Analytics Knowledge Hub
• AI and RPA Knowledge Hub
• Join the Emerging Technologies Interest Group

In this special episode filmed at the NJCPA Convention & Expo, Brad Muniz and Frank Boutillette provide updates on ESG issues under consideration by FASB and SEC; the AICPA’s proposal to update compliance audit definitions; recent trends and proposed disclosure rules for SPACs; and more.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• Proposed revisions to the AICPA Code of Professional Conduct: Compliance audits
• SEC Proposes to Enhance ESG Disclosures
• SEC Proposes Rules to Enhance Disclosure and Investor Protection Relating to SPACs, Shell Companies and Projections
• Join the NJCPA Accounting & Auditing Standards Interest Group, Governmental Accounting & Auditing Interest Group or Nonprofit Interest Group
• Visit the Accounting & Auditing Knowledge Hub

New Jersey has a long history in the film and television industries, but it’s now seeing explosive growth. In just four years, spending by TV and film productions in New Jersey has grown from $50 million annually to $440 million. One of the things contributing to this growth is the state’s film and digital media tax credit. We talk to Dave Smith, vice chair of the New Jersey Motion Picture & Television Commission, about the tax credit and other efforts to make the state an appealing place for producers.

Resources:

• New Jersey Motion Picture & Television Commission
• New Jersey Film and Digital Media Tax Credit

The AICPA Auditing Standards Board recently approved new quality management standards. And various standards-setting bodies continue to issue regulations and guidance around environmental, social and governance (ESG) reporting. Find out what all of this means for your firm or company.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• New quality management standards approved by AICPA Auditing Standards Board
• NJCPA Accounting & Auditing Knowledge Hub
• NJCPA ESG Knowledge Hub

Jeremy Nau, CPA, joins host Dr. Sean Stein Smith, CPA, to discuss technologies that are impacting the accounting profession — and what current and future CPAs need to do to prepare for the future. They also discuss how firms can attract and retain professionals.

Resources:

• Connect with Jeremy Nau: LinkedIn | Twitter
• The Way Forward Knowledge Hub
• Blockchain and Cryptocurrency Knowledge Hub

In survey after survey, employers state that soft skills are either as important or more important than hard skills. But the term “soft skills” has gotten a bad rap over the years. A better term, according to Thomas Metelski - a CPA and the founder of Jump Coaching & Consulting - is enhanced people skills (EPS). Thomas shares how CPAs can use the five “As” to improve their EPS.

Resources:

• Article: Let’s Get Rid of the Term ‘Soft Skills’ by Thomas Metelski
• Learn more about Jump Coaching & Consulting
• Career Development Knowledge Hub

This episode covers recent FASB activity on accounting for crypto assets, AICPA guidance for auditors, findings from a recent audit quality survey and report, and more.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• FASB to Consider Setting Rules on Companies’ Crypto Accounting, Disclosure
• AICPA Technical Questions and Answers (TQAs) 9165.01-.03
• NJCPA Accounting & Auditing Knowledge Hub

Michael Bryan, CPA, is a familiar name to many New Jersey CPAs because of his position as the director of the New Jersey Division of Taxation from 2010 to 2015. Mike is now back at the Division heading up the audit division. Find out about the Division’s tax audit priorities, red flags that typically trigger an audit, the prevalence of tax fraud in New Jersey and the Division’s plans to modernize their IT systems.

Additional resources:

• New Jersey Division of Taxation website
• New Jersey Division of Taxation on Twitter
• State Tax Knowledge Hub

Learn about the AICPA’s recent audit quality survey, SEC updates on climate and ESG matters, new GASB standards and projects, and international accounting news.

*** This episode qualifies for nano CPE credit. Find out more at https://njcpa.org/nano. ***

Resources:

• AICPA audit quality survey
• SEC Extends Comment Period for Proposed Rules on Climate-Related Disclosures
• AICPA Practice Considerations of ESG-related matters in an audit of financial statements
• GASB chair works on improving standards for government accountants
• U.S. Sanctions Ban Provision of Accounting, Consulting Services to Russia
• U.S., Chinese regulators in talks for audit deal

NJCPA member Joe Tarasco, CPA, is back to share his insights on several key trends expected to impact CPA firms in the rest of 2022 and beyond. He weighs in on the Great Resignation, flexible work arrangements, employee skill development, succession planning, technology adoption, advisory services and more.

Resources:

• Learn more about Joe and Accountants Advisory Group
• Attend Joe’s session, “Trends in Public Accountant and Future Predictions,” at the NJCPA Convention & Expo, June 14-17 in Atlantic City
• Watch our previous episode with Joe, “The Surging CPA Firm M&A Market”