Barry Melancon, CPA, CGMA, the CEO of AICPA & CIMA, joins the show this week for the first part of a two-part conversation on the state of the profession and what CPA can expect in 2024 on several fronts.

Melancon details concerns about a potential IRS shutdown in tax season, the state of ESG reporting and regulation, how elections could play out, and why the threats to CPA licensure are real.

Part 2 of the conversation will be published in an early January episode of the JofA podcast.

What you’ll learn from this episode:

·         Melancon’s one word that sums up the state of the profession looking ahead to the new year.

·         An overview of two major issues affecting CPAs: the moratorium on employee retention credit claims and requirements for beneficial ownership information reporting.

·         The “significant service implications” of a potential government shutdown related to the IRS.

·         Why legislation in Europe and California will have an effect on ESG reporting, even for businesses outside those areas and regardless of any SEC action on ESG.

·         Melancon’s assessment of “the art of compromise” in Washington.

·         The reasons CPA licensure is so important.