In a world where accountants once drowned in spreadsheets, artificial intelligence (AI) rose as their silent partner. A March 2025 study by Zhifeng Yuan of Puyang Vocational and Technical College tells how intelligent systems learned to analyze massive data, automate tasks and refine financial insight transforming accounting from tedious number-crunching into a realm of precision, speed and strategic decision-making.

Although Yuan’s research centers on China’s digital financial sector, AI-driven disruption is already a global reality. Accounting professionals who understand how AI, whether generative (creating new content) or agentic (autonomously performing tasks), is transforming their field are best positioned to succeed.

Skill Shift and Employment Displacement

Across various sources on AI’s impact in different industries, a common theme is that AI is most likely to transform tasks that are repetitive, involve data entry or require minimal human interaction. Many of these tasks are found in entry-level accounting roles. This means that positions focused on data entry and workpaper preparation are evolving. These roles will increasingly demand higher-level review skills and deeper technical knowledge. As one management lead noted, entry-level staff often assemble workpapers without fully understanding their purpose — a skill that typically develops at more senior levels. However, as AI takes over much of the workpaper preparation, entry-level staff will need to step into reviewer roles sooner and possess the necessary technical expertise. Therefore, it is essential for professionals to prioritize upskilling and reskilling.

As this shift takes place, positions focused solely on data entry are increasingly likely to be replaced by AI systems. Individuals in these roles who do not pursue additional skills may be at greater risk of job loss. While some experts believe AI will create new opportunities in oversight and analysis, the transition also brings short-term employment challenges.

I provided a presentation at a university event where I asked the students (mostly accounting and finance majors) if they thought AI would support or replace certain jobs in the future. Out of the 30 responses, 57% of them thought that AI would support more jobs, 13% selected replace jobs and 30% agreed that AI would both replace and support jobs in the future.

According to a May 2025 study by Jung Ho Choi of Stanford Graduate School of Business and Chloe Xie of Massachusetts Institute of Technology, AI augments rather than replaces professional accounting expertise. Their research, based on 277 accountants, shows that accountants using AI-powered tools experienced a 55% increase in weekly client support. It also shows that AI automation allowed accountants to reallocate about 8.5% of their time from routine data entry to higher-value tasks, such as business communication and quality.

Increased Speed and Efficiency Through Automation of Routine Processes

Choi and Xie’s study demonstrates that accountants achieve significantly greater results when using AI compared to working without it. By strategically leveraging AI to automate routine tasks, accountants can focus their judgment and expertise where it matters most. Notably, the study found that the monthly close time for financial statements was reduced by 7.5 days. Importantly, this efficiency gain did not come at the expense of quality. They found that companies utilizing AI experienced a 12% increase in the granularity of their general ledger, resulting in more detailed reports that can facilitate easier analysis and audits.

Increased Engagement in Value-Added Activities

When AI chatbots address client and colleague inquiries, optical character recognition (OCR) extracts data from receipts and invoices and robotic process automation (RPA) manages repetitive tasks such as bank reconciliations, professionals can focus on higher-value activities like strategic thinking and decision-making. Tools such as Microsoft Copilot further enhance productivity by generating meeting summaries and action items.

These examples, though not exhaustive, highlight the broad potential of AI in accounting, where collaboration between AI and accountants greatly enhances efficiency and enables delivery of greater value to clients.

Thus, AI is transforming accounting by automating routine tasks, increasing efficiency and allowing professionals to focus on higher-value work. Accountants who upskill and embrace AI are best positioned for success, as this leads to productivity, drives innovation and enables greater value delivery to clients in a rapidly evolving field.

Advocacy in Action: Uplifting and Securing the Future of the Profession

As we begin 2026, I’m proud to discuss our historic advocacy win for the accounting profession in New Jersey — former Governor Murphy’s signing on Jan. 12 of the bill we championed that creates an additional pathway to CPA licensure in our state. The initiative speaks directly to the power of an engaged, unified community of members working together alongside our legislators for positive change.

Having an additional pathway to licensure expands opportunities for qualified candidates to enter the profession by allowing those with a bachelor’s degree, two years of professional experience and passage of the CPA Exam to pursue a license alongside the traditional 150-credit pathway. The law, which goes into effect Feb. 11, 2026, also strengthens practice mobility for CPAs licensed in other states.

This achievement did not happen by accident. It was the result of sustained advocacy, from the NJCPA team, from our volunteers and from members who engaged with policymakers, shared their perspectives and supported the NJ-CPA-PAC.

Together, we helped policymakers understand both the need for modernization and the value of preserving the rigor and integrity of the CPA credential.

This success underscores two enduring truths about our work:

1. Advocacy matters. Policy decisions made at the state and federal levels have real consequences for the profession’s pipeline, the health of firms and staffing of corporate accounting and finance departments as well as the broader economy. Laws like this one shape who can enter the profession, how firms and organizations attract talent and how CPAs serve the public and business community. Without active engagement at all stages, these outcomes simply wouldn’t be possible. Stay informed and support the NJ-CPA-PAC and NJCPA advocacy program.
   
   
2. We must remain vigilant. While we celebrate this win, we are also closely monitoring a range of developments that could impact the profession in the months ahead. At the federal level, proposed changes to the definition of “professional” degrees could affect student access to financial aid, with implications for the accounting pipeline and diversity of future CPAs. The NJCPA, AICPA and other state CPA societies have taken steps to push back against this misguided policy. At the state level, other licensure and regulatory proposals continue to surface that warrant careful scrutiny to ensure they protect public trust without unintended consequences.

The NJCPA will remain at the forefront of these conversations, advocating on your behalf for policies that expand access, preserve standards and support the profession’s long-term vitality. But we cannot do it alone. Your voice, your engagement and your support make all the difference.

Thank you for being part of a community that not only responds to change but helps lead it. As always, I would like to hear from you at feedback@njcpa.org

Accountants are trained to think in terms of precision, compliance and minimizing risk. It’s what makes the profession trusted and indispensable. But here’s the paradox: in today’s rapidly changing business landscape, playing it safe isn’t always the safest move. Technology, particularly artificial intelligence (AI), is automating routine work. Clients are expecting deeper insights and strategic guidance. Younger team members want leadership that inspires and develops them. And competitors are more aggressive than ever.

What does this mean? It means boldness has become a professional necessity.

Now, when most people hear the word boldness, they think of someone naturally extroverted, daring or charismatic. But boldness isn’t a personality trait — it’s a life skill. And like any skill, it can be learned, practiced and strengthened. Once you do, it changes how you show up in every aspect of business and life.

Confidence in Action

Confidence is how you feel about yourself. Boldness is taking that confidence out into the world — asking the question, starting the conversation, making the suggestion or stepping forward when others hang back.

For accountants, this might mean:

• Telling a long-term client that their business strategy is putting them at financial risk, even when it’s uncomfortable.
• Asking a partner for a promotion or raise instead of waiting to be noticed.
• Speaking up in a meeting when you have an insight instead of letting the moment pass.
• Going after larger clients, rather than staying in your comfort zone of small accounts.

A lack of boldness costs more than most firms realize. It costs opportunities, clients, talent, revenue and personal fulfillment.

Why It Matters

Boldness is not recklessness. It’s about taking intelligent risks that compound into extraordinary results. Here are three ways boldness impacts the accounting profession:

1. Client relationships: Clients aren’t just hiring you to reconcile numbers; they want clarity, guidance and foresight. When you approach clients boldly — asking deeper questions, offering unsolicited insights or challenging assumptions — you elevate from being a vendor to being a trusted advisor. That shift is priceless.
2. Leadership and team culture: A bold leader empowers others to step up. When you encourage younger associates to take initiative, when you share your own failures as learning experiences, when you model openness and decisiveness — you’re cultivating a culture where boldness thrives. The result? A team that’s engaged, innovative and loyal.
3. Business growth: Whether you’re a partner, manager or sole practitioner, growth only comes from bold action. Reaching out to a potential client who seems “too big,” trying new marketing approaches or specializing in a niche are all acts of boldness. And when competitors hesitate, your bold move becomes your advantage.

A Learnable Skill

You don’t become bold overnight, but you can absolutely build it like a muscle. I describe boldness training with my PRIDE Method, a systematic way to do simple boldness exercises to expand your comfort zone. It involves:

• P – Preparation: Know your material, anticipate objections and rehearse your pitch or conversation.
• R – Relaxation: Learn how to regulate nerves with breathing and posture.
• I – Insight: Nothing bad happens unless you decide to label it that way.
• D – Dosage: Start small. Take on slightly uncomfortable challenges and expand gradually.
• E – Everyday action: Make boldness a habit with consistent practice.

Accountants thrive on process, and boldness works the same way. You don’t dabble in it. You systematize it. You practice it. And suddenly, what once paralyzed you becomes second nature.

The Ripple Effect

The most powerful part about boldness is how it impacts every area of your life. Boldness helps you ask for what you want in your career, and it also helps you have the hard conversation with your teenager or tell your life partner what you truly need. It helps you try new things, whether it’s travel, hobbies or even fitness, that expand your world.

In accounting, boldness makes you stand out in a profession where technical skills are assumed. Boldness is what gets you remembered. It’s what makes a client tell their colleagues, “You should work with my accountant. She’s not afraid to tell me the hard truths, and she always has fresh ideas.”

The age of AI is upon us, and routine tasks are being automated. What can’t be automated is courage, creativity and human connection. Boldness is the differentiator that future-proofs not just your career, but your fulfillment in life.

For accountants, the message is simple: mastery of numbers is expected. Boldness is the skill that will set you apart. And you can develop it, faster than you think!

Engagement letters are one of the best tools in a CPA’s risk management arsenal. Taking the time to update your templates ahead of busy season can help protect you in the months ahead. Follow these six tips to help ensure you cover your bases:

1. Review current-year engagement letter templates and update firm templates as needed. Tax and other guidance changes, and so should your engagement letter templates. Sources of sample engagement letters include your professional liability insurer, the American Institute of CPAs (AICPA) and others. Terms and conditions are an important part of an engagement letter and should be consistent across all services. Consider using a Terms and Conditions Addendum to help ensure consistency.
2. Review firm practices around engagement letters. While obtaining an engagement letter that has been signed by the client is the preferred risk management practice, engagement letters that do not require a client signature and only their tax return information may be practical for low-complexity, individual income tax return preparation engagements. Determine your firm’s threshold for when this type of letter may be acceptable.
3. Explore the benefits of technology in your engagement letter process. In 2024, approximately 55% of tax claims asserted against CPAs in the AICPA Professional Liability Insurance Program failed to utilize an engagement letter related to the service that was the subject of a claim. Tax claims without engagement letters are typically harder to successfully defend and, in most cases, more expensive regardless of outcome. Today’s practice management software and stand-alone engagement letter packages can automate the creation, delivery, signature and monitoring of engagement letters. Some technology may send reminder emails to clients or limit a client’s ability to access tax information until the engagement letter is signed.
4. Use engagement letters for all tax services. Hopefully you have an engagement letter for preparing the tax return, but when the client requests other services such as tax planning, tax consulting, notice response or tax audit representation, a new agreement is needed.
5. Include the date by which the client’s information must be provided in the engagement letter. Advise clients that the firm will not begin tax return preparation until receipt of the retainer, if requested; the executed engagement letter; and the completed and signed tax organizer.
6. Ensure that the correct engagement letter is mailed to the client…early. Everyone makes mistakes in the heat of busy season, so double check that the correct engagement letter and/or organizer is sent to the correct client. This is especially important when the organizer includes identifying information and last year’s tax return details.

Remember: Engagement letters can protect your firm only if they are used properly. Deliver your services as described in the engagement letter. Well-intentioned actions that expand the scope of services, such as “cleaning up” a client’s financial records to prepare a tax return or answering an ad-hoc question on an out-of-scope topic, can be detrimental in the event of a professional liability claim. If additional services or scope modifications are required to complete an engagement, confirm this new understanding, including applicable limitations, with the client in writing, whether through an email or an amendment to the engagement letter. For new services, issue a new engagement letter. 

The purpose of this article is to provide information, rather than advice or opinion. It is accurate to the best of the author’s knowledge as of the date of the article. Accordingly, this article should not be viewed as a substitute for the guidance and recommendations of a retained professional. In addition, CNA does not endorse any coverages, systems, processes or protocols addressed herein unless they are produced or created by CNA.

Any references to non-CNA websites are provided solely for convenience, and CNA disclaims any responsibility with respect to such websites.

Examples are for illustrative purposes only and not intended to establish any standards of care, serve as legal advice, or acknowledge any given factual situation is covered under any CNA insurance policy. The relevant insurance policy provides actual terms, coverages, amounts, conditions, and exclusions for an insured. All products and services may not be available in all states and may be subject to change without notice.

“CNA” is a registered trademark of CNA Financial Corporation. Certain CNA Financial Corporation subsidiaries use the “CNA” trademark in connection with insurance underwriting and claims activities. Copyright © 2025 CNA. All rights reserved.

Charitable contributions continue to be relevant planning consideration for businesses and individuals, but deductibility varies based on taxpayer type and applicable statutory limitations. CPAs should be mindful of how these rules apply when advising clients on the timing and structure of charitable gifts.

C Corporations

For C corporations, the IRS provides that charitable contribution deductions are generally limited to 10% of taxable income for the year. Taxable income for this purpose is computed without regard to the charitable contribution deduction and certain other adjustments. Contributions in excess of the annual limitation may be carried forward, subject to the applicable rules.

As a result, corporate charitable giving should be evaluated in light of projected taxable income to determine whether contributions are likely to be deductible currently or deferred through carryforward.

Flowthrough Entities

For partnerships and S corporations, charitable contributions are treated as separately stated items and passed through to owners. The deduction is not taken at the entity level; instead, each owner determines deductibility on their individual return.

Because deductibility depends on the owner’s adjusted gross income and other applicable limitations under IRS IRC §170, Charitable, etc. contributions and gifts, entity-level charitable contributions may produce different tax outcomes among owners. In some cases, an owner may be unable to fully deduct their allocable share in the current year, resulting in a carry forward.

Individuals and Itemized Deductions

For individuals who itemize, charitable contribution deductions are subject to percentage limitations based on adjusted gross income, as detailed in IRS Publication 526. The IRS has reported that beginning in 2026, a 0.5 percent floor will apply to itemized charitable deductions, reducing the deductible amount by 0.5 percent of the taxpayer’s contribution base.

Practice Note

Finally, charitable contributions should be incorporated into overall tax planning rather than considered in isolation. Understanding entity-level treatment, owner-level limitations, and upcoming changes allows CPAs to help clients align charitable objectives with efficient tax outcomes.

Accounting is a profession built on trust. Clients, boards, regulators and colleagues rely on CPAs to interpret complex information accurately, ethically and clearly. Yet many accounting professionals are asked to communicate high-stakes ideas — financial risk, forecasts, compliance issues and strategic trade-offs — without ever being taught how to communicate them effectively.

That’s where the six threshold concepts become especially relevant. These concepts don’t teach presentation tricks. Instead, they change how professionals think about communication — making clarity, concision and credibility repeatable rather than accidental. I believe that without them, you may struggle to improve and become a more impactful communicator.

1. Speaking Is Habitual (Not Natural)

In accounting, clarity is not optional — it’s a professional obligation. Yet, many CPAs assume that if they “know the numbers,” clear communication will naturally follow. It doesn’t.

Speaking is a habit. The way you explain variance, frame risk or respond to a client question has been learned over time. Once CPAs recognize that communication effectiveness is built through habits — preparation, rehearsal, reflection — they can stop relying on instinct and start building trust intentionally. Clear speakers aren’t born; they are practiced.

2. Speaking Is Messy

Accountants are trained to value precision and correctness, which can make the messy process of developing a message feel uncomfortable. But working through the mess is how clarity emerges.

Turning spreadsheets, standards and analyses into a concise explanation takes iteration. The first version is rarely the best version. This threshold helps CPAs accept that organizing a message —deciding what matters most, what to leave out and how to say it simply — is not inefficiency. It’s professional rigor applied to communication.

3. Speaking Is Social

Even the most technically accurate message fails if the audience can’t understand or use it. Speaking is not just about transmitting information; it’s about influencing understanding and action.

CPAs routinely speak to audiences with varying levels of financial literacy — clients, executives, nonprofit boards, regulators or cross-functional teams. This concept reminds speakers to focus less on what they want to say and more on what the audience needs to hear. Clear, concise communication builds credibility — and credibility is currency in the accounting profession.

4. Speaking Contains Multiple Genres

A client update, an audit committee briefing, a partner meeting and a conference presentation are all different genres of speaking. Each carries different expectations around depth, tone, structure and length.

Problems arise when CPAs treat all communication the same — using overly technical language where summary is needed, or excessive detail when a decision is required. Recognizing genre helps speakers adjust appropriately, ensuring they are concise without oversimplifying and thorough without overwhelming.

5. Speaking Is Embodied

Clear communication doesn’t live only in spreadsheets or memos — it lives in delivery. How you use your voice, pace, pauses and presence affects how credible and confident you appear.

This is particularly important for CPAs delivering sensitive information: a financial shortfall, a compliance concern or a strategic risk. Practicing aloud — not just reviewing notes — allows speakers to discover where explanations break down, where clarity is lost and where emphasis is needed. The body often reveals what the brain has missed.

6. Successful Speaking Requires Feedback

In accounting, feedback is foundational— we review work, audit processes and check assumptions. Communication should be no different.

Feedback helps CPAs refine clarity, tighten explanations and align intent with impact. It also builds self-awareness: what landed, what confused and what created trust. Speakers who seek feedback — both from others and through self-reflection — improve faster and communicate with greater precision over time.

For CPAs, effective communication isn’t about becoming charismatic or theatrical. It’s about being clear, concise, and credible — especially when the stakes are high and the details matter. These six threshold concepts offer a framework for developing those skills intentionally.

Once crossed, they change how professionals prepare, speak and learn. And in a profession where trust is everything, that shift makes all the difference.

When your organization or your clients think about tariffs, the first thing that comes to mind is federal trade policy and international politics — not state taxes. But here’s the surprise: tariffs can quietly drive up state tax bills in various ways for which many businesses never plan.

When the costs of tariffs are passed through to consumers, they inflate gross sales on invoices, which directly affects economic nexus determinations and liabilities for sales and use taxes, gross receipts taxes and personal property taxes.

Tariffs Can Trigger New Tax Filing Obligations

Tariffs generally become part of a company’s cost of goods sold. When prices rise to cover those costs, gross sales rise accordingly. Many states have “bright line” economic nexus sales thresholds with respect to both state income and sales/use tax. As a result, tariff-driven price increases can create new filing and registration obligations for all types of taxes, including:

• Sales taxes
• Net income taxes
• Gross receipts taxes

Tariffs Increase the Sales Tax and Gross Receipts Tax Bases

From a tax policy standpoint, advocates can make a compelling case that a separately stated charge on an invoice for tariffs should not be subject to sales tax. However, many states (e.g., New York) include tariffs in the taxable sales base, even if separately stated. The result is that the applicable state and local sales tax rate applies to the tariff amount.

As a simple illustration, consider a vendor that sells goods for $1,000 and adds the 10% tariff to their invoice, increasing the total to $1,100. Assuming a 9% sales tax rate applies, the sales tax liability increases from $90 to $99 due to the $100 tariff (i.e., $100 tariff × 9% sales tax rate).

Similarly, in states that impose gross receipts taxes, such as Ohio and Washington, the taxable base may also include the tariff. The gross receipts tax impact, however, is generally less significant than the sales tax impact because gross receipts tax rates are generally in the 1% to 2% range.   

Tariffs Increase Consumption Costs and Related Property Taxes

Many local jurisdictions impose some form of personal property tax on the value of a business’ in-state property. When imported goods become more expensive because of tariffs, the value on which those taxes are assessed also rises. A related, non-tax issue is that insurance costs will also increase for the same reasons: the insurer anticipates higher repair or replacement costs for damaged property. 

Proactively Assess Tariff Effects to Safeguard State Tax Compliance

Tariffs aim to influence global trade — not state tax systems. But because state taxes attach to economic activity, they inevitably follow where tariffs lead. As costs rise due to tariffs, state taxes rise with them. The result is that businesses may face higher state taxes even if their sales volume has not changed. In addition to tracking geopolitical impacts of tariffs, businesses must also check the related state tax impacts because that may be where the biggest changes show up.

Businesses can proactively engage tax professionals to monitor state nexus-creating activity and perform a comprehensive assessment of how tariffs impact their sales/use tax, gross receipts tax and personal property tax bases. The introduction of tariffs has increased the risk of noncompliance with state taxes. 

If you strip away the buzzwords, “decision intelligence” (DI) is simply the discipline of turning information into better action — consistently, transparently and at scale. That’s why accountants should be leading it. 

As a profession, we sit at the intersection of information (business intelligence, performance metrics and forecasts) and risk assessment (likelihood, mitigation strategies and consequences). We’re trained to ask, “What could go wrong?” and “What evidence supports this choice?” That blend of insight and prudence is exactly what DI requires, especially now that leaders are leaning on artificial intelligence (AI) to generate options faster than they can evaluate them. 

A recent WorkLab podcast featuring South African data scientist and statistician Cassie Kozyrkov — who created the discipline of decision intelligence — offers timely reminders for any firm or finance team building AI-enabled decision workflows. Below I connect her core ideas to accounting practice and outline a practical DI playbook you can deploy right away. 

What DI Is (and Isn’t) 

Kozyrkov defines DI as “the discipline of turning information to better action — any scale, any setting.” It breaks down silos between data, psychology, managerial science and risk. Put differently, DI is not “more dashboards.” It’s a repeatable decision system that starts with a clearly defined question, pre-commits to how evidence will be used and specifies how uncertainty and risk will be handled before anyone looks at the numbers. 

That sequence matters. As Kozyrkov cautions, many “data-driven” decisions are actually data-decorated — we pick numbers to justify a choice we’ve already made. Her antidote is to set the goalposts before you kick the ball: pre-define the metrics, thresholds and tiebreakers that will determine the choice. That’s objective logic applied to decisions, not just transactions — squarely in accountants’ wheelhouse. 

Why Accountants Should Lead DI 

1. Evidence discipline: Our profession formalizes documentation, materiality and reliability of information. DI needs the same rigor: a decision charter that records the question, criteria, acceptable risk and returns, and sign-offs. 

2. Risk fluency: DI requires surfacing trade-offs and designing guardrails. We are trained to quantify likelihood, impact and control design — not just expected value. 

3. Ethics and accountability: DI is as much about governance as math. We bring independence, objectivity and transparency to how decisions are made and monitored. 

Pair that with AI’s ability to generate options and first drafts, and you get what I call the ultimate leadership partner: human judgment amplified by machine creativity, bounded by well-designed controls.

Avoid Pitfalls in the AI Era 

The two big DI pitfalls include the following:

1. Too many options and analysis paralysis: Generative AI can produce thousands of plausible answers. More options do not automatically yield better decisions. Without option limits and tie-breaker rules, teams waste time comparing immaterial differences that don’t change outcomes (in the podcast, this is illustrated by the Paris vs. Madrid syndrome). 

   What to do: 

   • Cap option counts (e.g., “AI may return 10 candidates; the team will use its criteria to short list the top three to evaluate in detail.”). 
   • Define tie-breakers in advance (e.g., “If two options score within two points, lower compliance risk is the more important criteria.”). 
   • Set a decision deadline (e.g., “Decision within five business days once evidence gathering is complete.”). 
2. Biased evidence gathering and selection analysis: Confirmation bias creeps in when teams look at data and evidence after forming a preference. As Kozyrkov notes, you can always move the goalposts post-hoc.

What to do: 

• Define the criteria before gathering the evidence or looking at data around options.  
•  Separate roles. The person gathering the evidence shouldn’t know the weighting of the criteria to prevent handpicking evidence or presenting evidence in a way that makes a preferred option look better. 
• Log deviations from the selection plan and require stakeholder acknowledgment. This creates transparency around the evaluation of evidence.
  

The Mindset Shift

AI changes the pace and shape of choices, but it doesn’t change who should be in the driver’s seat. As Kozyrkov puts it you — the human — are the “author of meaning.” In firms and finance teams, that author is often the accountant who can translate strategy into criteria, evidence into action and risk into resilient outcomes — all in a way that is unbiased and objective.

DI needs exactly that kind of leadership. Our profession is built for it. 

With a record number of baby boomers reaching retirement age every day, it’s no surprise that CPAs are increasingly offering financial services to their clients. And financial planning questions have become more commonplace on the CPA Exam.

Since there’s more to true financial planning than investments and portfolio construction, the best advisors — including CPAs — are taking a holistic approach to wealth management. It’s an approach that recognizes that financial health is closely intertwined with physical, emotional, mental and social wellbeing. I’m guessing this wasn’t covered in your accounting school curriculum.

To move into financial planning successfully, however, you’ll have to do more than crunch the numbers, plug in investments and memorize the tax code. You’ll be evaluated by how well you can really listen to clients and empathize with them.

Seth Fineberg, founder of Accountants Forward, explained in the prologue of my book that “even if your client tells you they already have a financial planner, it’s worth reaching out to that planner and potentially collaborating with them as part of your service to ensure that your client is getting the best possible advice. That’s because every single year, you know what they owe in taxes and why." 

Estate Planning to Cement Client Relationships

Thanks to advances in technology and the increasing affordability of a virtual family office model, experts don’t have to be in-house on your full-time payroll. Again, as the client’s CPA and most trusted advisor, you direct the relationship and remain the central point of contact. 

When it comes to providing the family office level of care, estate planning comes top of mind. On a recent podcast I hosted, Andreas Mazabel, head of advisor sales at Trust & Will, told me that firms proactively adopting estate planning are finding it a powerful way to deepen relationships and better connect with their clients’ values and the extended family’s values. He believes that financial advisors of all stripes who are not incorporating estate planning into their practices are losing clients to firms that do.

One thing he continues to see is that clients looking for advisors want complete holistic planning and don’t want to go to three or four different offices.

Trust & Will’s research has found that when a person comes to set up an estate plan on the platform without a financial advisor, there’s about a 25% chance they’ll go through the process and complete it. But when they come through a financial advisor, the completion rate goes up to 75%. That’s one of the many advantages of having a trusted advisor. 

When you consider that 55% of Americans don’t have any estate documents and only 31% have a basic will, according to Trust & Will's 2025 Estate Planning Report, I can't think of a better argument for the power of accountability.

For forward-thinking CPAs, estate planning isn’t just an add-on service; it’s a cornerstone of relationship-centered wealth management that clients increasingly expect from their most trusted advisor. Build your ROR today!

With the repeal of the mandatory capitalization provision of Section 174 of the U.S. tax code under the recently enacted One Big Beautiful Bill Act (OBBBA), the landscape has shifted for research and development (R&D) tax incentives, offering new opportunities for some taxpayers while raising questions for others. Whether you are advising a scaling tech startup, a legacy manufacturer or any business pushing the boundaries of innovation, staying up to date on R&D tax incentives is essential.

Section 174: Repealed with Limitations

After years of sustained advocacy from the business community, Congress officially reversed the mandatory capitalization of domestic research and experimental (R&E) expenses, which had applied starting in tax year 2022. The change, signed into law via the OBBBA, restores full expensing for qualified domestic R&E activities for tax years beginning after Dec. 31, 2021.

However, the relief is not one-size-fits-all. The law distinguishes between smaller and larger businesses based on gross receipts and offers different options for how each can benefit:

• Small businesses with average annual gross receipts of $31 million or less (measured under IRC Section 448) over the prior three years may elect retroactive relief and amend returns for tax years 2022, 2023 and 2024 to fully deduct domestic R&E costs that were previously amortized.
• Larger businesses exceeding that threshold cannot amend prior returns to reflect the change. However, they are allowed to recoup previously capitalized Section 174 costs from 2022 through 2024 by either deducting the full remaining balance in 2025 or spreading that deduction evenly over 2025 and 2026.

This represents a major shift. CPAs should begin reviewing client eligibility now to determine whether retroactive amendments or forward-looking deductions are appropriate.

Uncertainty Remains for 2024 Returns

While the repeal is effective retroactively for some taxpayers, the IRS has not yet issued detailed guidance on how to properly implement the retroactive election or claim the associated deductions. 

If clients have already filed using amortization, they may have to amend their return once procedures are finalized. Timing and communication will be key.

What About Foreign R&E?

Foreign R&E expenses remain subject to 15-year amortization, regardless of the taxpayer’s size. This provision was not changed under the new law and continues to present a compliance consideration for multinational companies or any client performing development activities abroad.

Scrutiny of the R&D Credit Is Intensifying

Even with the repeal of Section 174 capitalization, the IRS remains focused on tightening documentation standards for R&D credit claims. Updates to Form 6765, which take full effect for tax year 2025, mark a shift in how credits must be substantiated and presented.

Key changes include the following:

• Providing additional information for each business component
• A breakout of qualified research expenses (QREs) by project
• A breakout of wage QREs, such as direct research, direct support and direct supervision by business component
• A revised 280C election statement to reduce ambiguity and improve consistency

Increased transparency is the IRS’s objective. For CPAs, this means boilerplate descriptions and retrospective estimates are no longer sufficient. Clients need to maintain contemporaneous documentation, capture the role of technical staff and link costs to specific research activities throughout the tax year.

What You Should Be Doing Now

To help clients navigate these changes effectively, you should consider the following best practices:

• Determine gross receipts eligibility. Begin by reviewing average annual gross receipts for 2020 through 2022 to identify clients under the $31 million threshold who may benefit from retroactive amendments for 2022 and 2023.
• Model the tax impact of immediate expensing. For both small and large businesses, estimate the impact of deducting capitalized costs in 2025 (or over 2025 and 2026) to inform broader tax planning and financial reporting strategies.
• Audit R&D documentation practices. Ensure clients have implemented clear documentation protocols for time tracking, project scoping, technical involvement and cost allocation. Prepare now for the more stringent requirements coming with the updated Form 6765.
• Coordinate Section 41 and Section 174 strategies. Although these sections are distinct, they interact closely. Make sure clients’ accounting and tax treatment of R&D expenses are aligned to avoid discrepancies that may trigger audits or slow processing of claims.

The repeal of Section 174’s capitalization rule is a long-awaited and significant win for innovative businesses. While the repeal offers relief, it also introduces new layers of complexity that call for strategic guidance and proactive coordination. From determining eligibility and modeling deductions to documenting qualified research activities and waiting for IRS guidance, there’s plenty of work still to do.

For CPAs, this is a moment to step in as strategic partners. Your insights will help clients navigate these new rules with confidence and clarity, maximize their available incentives and position them for stronger financial outcomes in the years ahead.

This blog was reprinted with permission from CPA Now, the Pennsylvania Institute of CPAs’ (PICPA) blog.  The full version of the post can be found here.

Being honored with an NJCPA scholarship at an early age while in school was a vote of confidence. It reminded me that others believed in my potential, even before I fully understood the path I was on. That meaningful gesture helped me feel supported by the accounting community. It wasn’t just about the financial help — it was about being welcomed into a profession that values growth, integrity and mentorship. That early recognition planted a seed of purpose that has stayed with me throughout my career.

My Journey

The encouragement of being awarded a scholarship helped me stay focused and motivated during a time when I was still figuring out my direction. It kept me involved with the accounting profession and gave me the confidence to pursue my CPA.

Eventually, I found my first role as an entry-level staff accountant with Withum through the NJCPA Career Night — an opportunity I’m forever grateful for. That experience not only launched my career but also introduced me to a firm and a community that aligned with my values and aspirations. It was the beginning of a journey that has now spanned more than 15 years — one filled with growth, leadership and the chance to give back.

Lessons Learned

Accounting isn’t just about numbers and taxes; it goes deeper into understanding businesses and building relationships.

Some takeaways for the next generation:

• Don’t underestimate the power of the CPA — it’s more than a credential. It opens doors, builds trust and gives you the platform to make a real impact.
• There are many paths that one can take with an accounting degree — it’s not just public accounting. There are entry-level roles in the private sector, teaching, education, nonprofit and more.
• Accounting is also very versatile — it is a great baseline to build upon.

Building Community: The NJCPA Member Advantage 

In my last CEO Compass message, I emphasized what makes the NJCPA truly special: our people AND our community. I said, “Our accomplishments were not achieved by any single person, but by all of us working together. Each donation to the food drive, to our PAC, each presentation at a school, each time we speak up for the profession, sends a signal of strength and purpose.” 

This time, I’d like to lean into community. Association-driven community is a strategic advantage, one that strengthens trust, encourages engagement and accelerates collective impact. At the NJCPA, we see community not as a nice‐to-have, but as central to our mission and value to members. 

Why Community Matters 

When members feel connected, to each other and a shared purpose, they are more engaged, loyal and motivated to become advocates. That sense of belonging also fuels innovation: members freely exchange ideas, voice needs and co-create new programs. 

For the NJCPA, community isn’t theoretical. It’s manifested through hands-on, values-based initiatives that bring members and the next generation of professionals into shared purpose.  

• 2025 NJCPA Food Drive:: Hosted by the NJCPA Emerging Leaders Council, the food drive runs through Nov. 14. The Council is looking to meet or exceed 2024’s collection of approximately 2,300 pounds of food and $22,000 in online contributions. Donations will benefit the Community FoodBank of New Jersey, which works to provide support to more than 800 community partners in the fight against hunger and poverty. The project also includes a volunteer day at the FoodBank, giving members face-to-face interaction in service. 
• High school and college outreach programs: Through our career awareness presentations and campus engagement efforts, the NJCPA not only helps students envision a path in accounting, but brings practicing CPAs into mentorship roles, strengthening their ties to the profession and reinforcing NJCPA’s role as stewards of the pipeline. With your help, the NJCPA made more than 70 visits to New Jersey high schools last year.
• Emerging Leaders social programs: Activities such as happy hour with NJ Sharing Network, Oktoberfest with the Hudson Chapter and “Night on Ice” at the New Jersey Devils allow members to meet colleagues from other firms and companies, share stories and cement relationships.  

That blend of philanthropy and connection is powerful. Members don’t just write checks, they build bridges. 

In a world of shifting expectations and fleeting attention, the NJCPA’s emphasis on community sets us apart.  

Our value proposition is not merely in delivering CPE or advocacy, it is in building relationships, catalyzing collective action and creating a shared identity of service. That is how we transform members into stakeholders and an association into a movement. 

I’d like to thank all of you who volunteer in a variety of capacities for your time and expertise in helping to steer us in the right direction. We invite others to get involved at njcpa/volunteer and would like to hear from you at feedback@njcpa.org. 

Internships are an important part of career development, both for the intern and the employer.

The real-world experience provided by an internship plays a very important role in career development. Initial classroom learning is rich with foundational topics, and students do also experience experiential learning in school. For example, group projects provide experience working with others. However, the importance of putting knowledge to the test in a real-world environment is invaluable — providing a bridge to that next career step.

In a classroom group project, all the information required might be neatly summarized in a few pages for the assignment, and students are tasked to work with that information — complete calculations, do research, etc. However, an internship provides the next logical step in problem-solving, where employees must figure out what information is needed, all while the available information is endless. Employees may need to speak with clients to get the information they need. This whole transition can be a bit overwhelming, and an internship allows young professionals to make this next step in a structured and guided environment. In addition, internships allow students to explore different career areas to see what a right fit for them might be.

Why are internships equally important for accounting firms?

Firms that provide internships are inspiring the next generation of accountants. The internship is a firm’s chance to show talented young professionals everything the business has to offer:

• The fantastic firm culture
• The extensive benefits
• The interesting clients and learning opportunities
• The way that accounting services truly help businesses

In addition, internships provide firms access to a new generation of employees who come equipped with fresh ideas and skills in areas such as technology and social media — a valuable addition to any firm!

When I was in college, my accounting professor encouraged me to apply for a scholarship through the New Jersey Society of CPAs. At first, I didn’t think much of it. The idea of going through an interview process made me nervous — I remember feeling intimidated, dressing up and wondering what I had gotten myself into. Much to my surprise and excitement, I was selected as one of the recipients.

Looking back, the most impactful part about receiving the scholarship wasn’t the financial prize — though as a student that was certainly helpful. What truly made the difference was the exposure it gave me to the accounting community. As an NJCPA scholarship recipient, I was invited to attend the NJCPA’s first Scholars Institute, a multi-day workshop that exposed me to opportunities I never knew existed.

We worked on resume writing, mock interviews and networking skills, but one memory is still enough to put a grin on my face: a team-building session where we were instructed to build a chair out of newspapers — capable of holding Ralph Albert Thomas, the then Executive Director of the NJCPA. Our team anxiously crossed our fingers as he sat down, and the chair held him! Those kinds of activities taught me not only technical skills but also how important collaboration, creativity and confidence are in the workplace

Most importantly, I had the chance to meet CPAs at different stages of their careers. Learning from their stories and advice gave me my first real insight into what it was like to be a member of this profession. It gave me confidence, a sense of belonging and a desire to stay connected.

Nearly 20 years later, as a partner in a CPA firm, I can trace a direct line back to that scholarship as the first real door that opened for me in the profession. It also planted the seed of giving back. Being a recipient encouraged me to volunteer for the Society, mentor young professionals and take on speaking opportunities with both high school and college students. It’s my way of paying forward the encouragement and opportunities that were given to me.

A Message for Students Today

For those considering an accounting career or working toward the CPA designation, my advice is simple: take advantage of opportunities, even when they feel intimidating. You might think a scholarship is just about financial support, but, in reality, it can be the gateway to experiences and connections that shape your career.

Accounting is about much more than numbers — it’s about people, problem-solving and making an impact in your community. Getting involved early with organizations like the NJCPA allows you to see that bigger picture, build your network and gain experiences that go far beyond the classroom.

I was once a nervous student walking into an interview where I didn’t think I could succeed. One step, however, led to a career path which I am grateful for today. So, take the step, even if it feels uncomfortable — you never know how it might change your future. 

• Learn about the NJCPA’s scholarship programs

Captivating someone’s attention through careful description will determine how a story is remembered. As accountants we often shy away from telling the “real story” about our role or the truth about how accountants, for example, advocate for small businesses and guide them to become successful companies. These heroic stories are what many accountants don’t share, but when we do, we inspire others. Accounting entails much more than bookkeeping, but rather invaluable strategic guidance for making financial decisions. The younger generation understands that the accounting profession is rewarding and is searching for stability and lifelong careers. We just need to tell our stories more.

Stability and Flexibility

In the current state of the world, there are an extensive number of variables when determining how someone’s career and future will progress. An accounting degree has been proven to be one of the most stable professions offered at most public colleges and universities. According to the U.S. Bureau of Labor Statistics, the accounting profession is outpacing the average job, at 6% year over year compared to other careers averaging at 4%. As accounting continues to adapt to an ever-changing financial climate, students are realizing that having a stable job that offers the ability to branch out into different client advisory positions is attractive.

In my journey, I chose accounting because I wanted a career where I would have a choice in what I did, and how my skills would be used. I planned on working with my father at his mechanical shop but quickly learned that I enjoyed the business, more specifically, the professional aspect of work instead of the manual labor. I decided I would study accounting because it provided a strong foundation in financial principles and analytical skills as well as allowing for greater flexibility in finance or business administration instead of trying to pivot into accounting later from a different career path. Accounting offered me flexibility while being able to build my professional and personal skills.

When I ask students at Ramapo College, my alma mater, why they chose accounting, they often express their interest in being able to pursue almost any career because of the broad opportunities offered; accountants are well-versed in finance, economics and business management. Because accounting jobs are in every industry, students are realizing that they can have a versatile and rewarding career. When starting Nike, co-founder and chairman emeritus Phil Knight hired from two kinds of professions who were proven to have "sharp minds" — accountants and lawyers. He felt these professionals “…had at least proved that they could master a difficult subject.” The ability to utilize the information given to us and help produce a product or service that has value is an accountant’s superpower.

Purpose and Ethics

Beyond stability and flexibility, Generation Z cares deeply about ethics and regulations. They are quick to identify unethical behavior and demand transparency. Similarly, ethics is an enormous part of being an accountant, especially for those interested in pursuing the CPA designation. Accountants are held to high ethical standards, integrity and honesty when providing support to the public interest. Gen Zers not only embrace these values but are also willing to continue to uphold and nurture ethical behavior as they see fit. I find that many students are eager to contribute to the profession because of the deep-rooted understanding of the need for probity; they want to provide their viewpoints on critical ethical guidelines CPAs must uphold.

Students are inspired by our stories, our accounting knowledge and our skills. Articulating our values, perceptions and strategic analysis in ways that students can understand allows them to apply their own narratives to this profession. Accounting, after all, is the core of the business world. Acquiring an accounting degree delivers on the promise of a rewarding and stable career.

Most financial advisors will tell you they know their clients inside and out. But study after study finds significant gaps between an advisor’s assumptions and what clients say they are getting from their advisors.

Amy Mullen, president of Money Quotient, Inc. and vice president at MQ Research & Education, recently did a study in conjunction with the Financial Planning Association about developing and maintaining client trust and commitment in a rapidly changing environment.

Here are some key findings:

• Seven out of eight financial planners (87%) believe they are open to discussing what clients value most in life, but only half of the clients (50%) believe their advisors are open to discussing what they value most in life.
• Ninety percent of financial planners believe their recommendations are based on a client’s personal goals, needs, and priorities, but less than half of the clients (49%) feel that way.
• Eight out of 10 financial planners believe they communicate to clients the importance of incorporating all areas of life when creating a plan, but less than half of the clients (47%) feel their advisors are taking that approach.
• Seven out of eight (85%) financial planners say they contact clients regularly to see what life changes may be affecting their plan, but less than four in ten (39%) clients say their advisor contacts them regularly.

What this data tells us is that as professional service providers, we’re so focused on the numbers — and mathematical solutions — that we forget to ask clients about their most important values and life goals. As a result, we’re missing at least half of the puzzle pieces, sometimes more.

This same message can be applied to accountants and CPAs. I know it can feel like a full-time job just getting your clients’ books in order so you can get tax returns done on time and correctly. But do you have any idea what they want most out of life? Do you know how to put together a life plan? A life plan is a living document that can help you and your client regularly assess their satisfaction in all aspects of their lives, not just investments and taxes.

Why Life Planning Should Come First

Traditionally, people don’t start working with a planner until after they’ve had some sort of financial windfall, life-altering event (death, divorce, disability) or runup to retirement. But how many people’s lives could be transformed if you could help them get their ducks in a row before these life-changing events upend their lives? You may be thinking this is a job for wealth managers and estate planning attorneys. Don’t sell yourself short.

Accountants have long been the financial “first responders” in their clients’ lives. How many owners of small and midsize businesses could improve their businesses and sense of well-being by undergoing a comprehensive life plan early in their relationship with their CPA?

Values-based Planning 

Values-based financial planning is an approach to financial planning that takes into consideration an individual’s unique values, beliefs and goals — in addition to their financial situation — to create a customized, sustainable plan. Unlike traditional or goals-based financial planning, which may not fully consider the role of personal values when making financial decisions, values-based financial planning aligns a person’s financial plans with their life purpose and goals. 

“A large portion of our society doesn’t like goal setting,” Mullen told me recently. “The word ‘goal’ can have negative connotations either because society failed in the past to reach certain personal goals or they’re in a work setting in which rigid performance goals are pressed upon them.”

Advisors of all types, including CPAs, should try to give clients a fresh perspective on goal setting that gets them excited about engaging. The key is to help them set goals that are “aligned with their values.”

According to Mullen, clients shouldn’t just say: “Retirement is a goal” or “Funding college is a goal.” We want them to picture a “wonderful retirement with the people they love, doing the things they like to do.” Ask them: “Where will you be? Who are you with? What are you doing?” This, she said, is a really fun way to help people shift their perspective around goal setting. “You could say, ‘Let’s set up some benchmarks that we can celebrate along the way to make reaching this goal fun and rewarding,’” she added.

You also want to talk about the timeliness of the goal. One thing we don’t do enough of as advisors is to take the time to recognize when clients are overwhelmed because they already have too much on their plate already. By helping them prioritize small, manageable steps, they are more likely to stick to, and reach, their goals.

Next Best Action (NBA)

I’ve found the Next Best Action (NBA) approach can be very helpful for goal setting. Start with the “why” to establish a significant and meaningful vision, then shift to the “how” by becoming focused on the process.

Once your client has a goal in mind, the NBA becomes the actionable step that keeps them moving forward. For example, if your client’s ultimate goal is to run a marathon, the “why” might be to lead a healthier lifestyle. The “how” could be something as simple as running a mile or simply putting running shoes on and walking around the block to get them on the right path. NBA creates positive momentum and helps clients stay engaged with the process, even when the big picture feels daunting.

You’re great with the numbers and clients trust you immensely. Consider small, manageable steps to becoming a more comprehensive advisor and confidante in their life. Start building your ROR (Return on Relationship) or the human side of advice beyond the numbers today!

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Accounting is no longer just about numbers. It’s about navigating possibilities — and career paths should reflect that. For decades, the accounting profession has sold the dream of a singular path to success: graduate with your degree, land a job at a firm and work your way up the ladder to partner. Or exit the firm and become a controller and work your way up to CFO. For many, that ladder was clear, structured and (for some) satisfying.

But for too many others — especially younger generations, mid-career changers and those from historically underrepresented backgrounds — the ladder can feel limiting, outdated or even out of reach. Or even worse, not reaching the top can feel like failure.

It’s time for the profession to replace the traditional ladder with a jungle gym (thank you, Sheryl Sandberg, technology executive and former COO of Facebook (now Meta)) — a more flexible, dynamic and inclusive vision of career growth that reflects the complexity of modern accounting and the aspirations of today’s workforce.

From Climbing Up to Moving Around

Unlike a ladder, a jungle gym offers multiple ways to reach new heights. You can climb up, sideways, even backwards — and sometimes take a step down to ultimately leap forward. That’s the kind of career agility that today’s accountants need.

Consider the rise of nontraditional accounting roles:

• Data analysts and automation specialists inside firms
• ESG consultants leading sustainability initiatives
• Internal firm coaches and strategists
• Client advisory professionals specializing in tech stack design or process reengineering Accountants turned into startup founders, authors or educators

These are not deviations from the profession. They are evolutions of it. And yet, many firms and organizations still talk about success as if there’s only one direction: up the ladder.

Why the Ladder is Losing Its Appeal

Three major trends are accelerating the shift away from the ladder model:

1. Changing talent expectations: Today’s professionals are seeking purpose, autonomy and balance. They want roles that align with their values, leverage their strengths and allow for personalization. A rigid path to the executive level doesn’t appeal to everyone — nor should it have to. We should honor diverse definitions of success, not just the titles on a business card.
2. Evolving business models: The rise of advisory roles in firms and finance, niche consulting in non-accounting areas and AI-enabled workflows are redefining what it means to be valuable in a firm. Expertise is no longer solely vertical — it’s lateral, interdisciplinary and collaborative.
3. Urgency around retention: While some research suggests the tide of quiet quitting has eased, the cost of losing talent is still an issue for many accounting firms and finance teams. But many of those professionals aren’t burned out — they’re boxed in.

What the Jungle Gym Looks Like in Practice

Transitioning to a jungle gym model doesn’t mean abandoning structure; it means expanding it. Instead of a single upward track, it’s best to offer multiple pathways with interchangeable roles across departments, service lines or specialties. A tax associate might shift into a tech implementation team. An auditor could explore sustainability consulting or training roles. A controller could try being a business analyst with a focus on data analytics and operations.

Normalize lateral transitions and rotations as growth opportunities. These can deepen perspective, prevent burnout and build team resilience. Empower employees to shape their own trajectories. Let them combine technical, leadership and personal growth goals in ways that make sense for their aspirations and your business needs.

Mentors as Guides, Not Gatekeepers

Encourage mentorship models that support exploration and risk-taking, not just grooming for the executive path.

It’s time to redefine what success looks like in accounting. The jungle gym model honors the complexity of modern accounting and the humanity of the people who choose this profession. Whether you’re a managing partner, CFO, HR director or young professional trying to find your place, ask yourself:

• Are we offering real career agility or just lip service?
• Are we rewarding curiosity and lateral growth?
• Are we building teams that people want to stay in — or escape from?

Let’s Design the Profession We All Want

The future of accounting should continue to be inclusive, dynamic and fulfilling. But we can’t get there if we cling to outdated models of what a “successful accountant” looks like.

Let’s give people the freedom to swing, climb, pivot and grow. Let’s build teams where the view from the top isn’t the only one that matters. Let’s ditch the ladder and build a jungle gym together.

My career isn’t glamorous. You won’t find it on TV crime shows. No one grew up saying, “I want to be an internal auditor.” Internal audit doesn’t get the spotlight — but maybe it should. 

Ask anyone in the field, and they’ll tell you that internal audit is one of the most unexpectedly rewarding careers out there. Many, if not most, auditors stumble into the field but then often end up staying for their entire career. That’s definitely my story. I followed the classic advice: major in accounting, land a role at a Big 4 firm and start climbing. After a few years, it was clear that public accounting wasn’t for me, but I still had no idea where my journey would take me. I decided to give internal audit a try because I had heard there was amazing work-life balance — and I have never looked back.

Over the years, I’ve had experiences that “college-me” could never have imagined. I’ve shown up at a casino at 2 a.m. and watched a “drop and count” (the nightly process of physically collecting and reconciling all money in the machines and game tables), visited the oil and gas fields of West Texas and wen to a cash distribution facility under armed guard. I’ve learned how coal ash is turned into usable products and how building trusses are measured and cut. I’ve found fraud and investigated employees. It’s all in a day’s work for internal auditors. 

Few careers offer the chance to investigate, influence, protect and grow all in a single day but internal audit does. Here are just a few of the many hats that internal auditors wear every day: 

• Corporate detective: Asking thoughtful (and often unexpected!) questions is an auditor’s superpower. They spot patterns that others might overlook, investigate anomalies, dig into data and follow leads to uncover root causes. For those of us who are naturally curious (I prefer this word over nosy!) and always ask “why,” internal audit is a great fit. See something that just looks a little off? Dig into the data and figure out what happened.
• Trusted advisor: The best auditors don’t just fill out checklists. They are strategic partners to management and the board of directors. I admittedly didn’t realize for many years that we’re ultimately in the “relationship game,” but auditors must form strong relationships across all departments. We earn trust through the objectivity and insight we provide and by not only focusing on what went wrong, but also on what’s working. When people first meet auditors, they are often nervous. True audit pros know how to garner trust and still deliver tough messages.
• Risk wrangler: Most people don’t think much about risk (or don’t want to!) but auditors do. Auditors of the past often had a “historical looking” lens and spent the majority of their time analyzing data and looking back at what happened. Today’s auditors stay up to date on emerging risks, trends and technologies to keep organizations safe.  Auditors are explorers — scanning the risk horizon to assess what could go wrong and how bad it could be before it happens.
• Lifelong student: If you loved school — learning and asking questions — internal audit is your dream job. Every audit is a crash course in a new topic, process or system. Auditors are constantly expanding their knowledge across industries, technologies and regulations. And best of all, you get paid to keep learning, questioning and growing!

Internal audit is one of those rare paths where you can make a real impact, grow endlessly and never be bored (and trust me, I get bored easily!). This career has challenged me in ways I didn’t expect and opened doors I didn’t even know existed. I’ve gained a front-row seat to how organizations really work and a direct line to the executives and leaders making things happen. I’ve helped shape how both organizations and individuals succeed. If you're curious, adaptable and driven to make things better, then this might just be the career you didn’t know you were looking for.

As governments respond to emerging risks, new disclosure requirements and calls for greater transparency, policies are reshaping the audit landscape in significant ways. For auditors and finance professionals working with public entities, these shifts aren’t just technical, they influence audit scope, timing, risk assessment and, ultimately, public trust.

Here are three ways today’s policy updates are influencing government audits and how finance teams can stay agile in the face of regulatory change:

1. Standard-Driven Policy Changes Are Expanding Audit Risks

Government financial reporting standards continue to evolve. Governmental Accounting Standards Board (GASB) pronouncements such as GASB Statement No. 96 (Subscription-Based IT Arrangements), GASB Statement No. 101 (Compensated Absences) and GASB Statement No. 102 (Certain Risk Disclosures) reflect a broader push toward modernized and consistent disclosures. While these standards are not legislative mandates, governments at all levels are establishing internal policies and procedures to align with and implement them.

These developments have auditors reassessing risk, particularly around the new estimates and judgments that governmental entities are making. In addition, auditors are evaluating the design and effectiveness of internal controls over financial reporting in light of the new standards, as well as assessing the adequacy of supporting documentation.

Remaining up to date on how these standards are implemented at each government entity is essential to understanding their impact on audit planning, risk assessment and testing.

2. Data and Technology Policies Are Reshaping Audit Evidence

Government policies on data governance and digital records are actively changing how audit evidence is obtained, documented and evaluated. As more entities transition to cloud-based systems, electronic records and workflow automation tools, new requirements around data retention, cybersecurity and access control are directly impacting audit processes.

While some government entities continue to lag in technology adoption, particularly with artificial intelligence, many are steadily increasing their use of digital tools for daily operations. This shift introduces new considerations and risks for auditors to navigate.

These changes are especially relevant as audit teams leverage technology-assisted audit software. The broader movement toward digitalization will further influence how auditors approach evidence collection, analytical procedures and consistency checks across large datasets.

To remain effective, audit teams must understand and assess the risks associated with emerging data policies while investing in training that equips auditors to evaluate controls in increasingly digitized environments.

3. Policy-Driven Transparency Initiatives Are Elevating Expectations

Public sector accountability is top of mind for policymakers and citizens alike. Transparency initiatives, such as open data laws, performance dashboards and public reporting portals, have become more common and raise the public’s expectations for accuracy, comparability and clarity in financial reporting.

The audit and the Annual Comprehensive Financial Report (ACFR) are increasingly viewed as mechanisms to validate that governmental entities are collecting, managing and allocating resources appropriately (the NJCPA’s and New Jersey Business & Industry Association’s recent legislation to provide a “plain-language” summary of the report likely helps). When audit findings identify deficiencies, the impact extends beyond the finance function, affecting legislative decision-making, media narratives and public trust.

Finance professionals and auditors must therefore view each policy-driven disclosure as an opportunity to strengthen communication, provide context and support decision-makers with clear and reliable data.

New policies are not just regulatory hurdles — they are key factors that directly influence how we plan and perform audits of governmental entities. Whether it’s adopting a new GASB standard, evaluating IT systems under new security policies or ensuring transparency through improved disclosures, every change requires auditors and government finance professionals to stay informed, flexible and collaborative.

By viewing policy shifts through a lens of opportunity, not just obligation, we can elevate the value of audits and contribute to stronger governance, greater accountability and more transparent, trusted public entities.

Interns can be one of the greatest untapped assets in the accounting profession. They bring fresh energy, new perspectives and a willingness to take on tasks that more experienced team members may no longer wish to perform. But turning a good internship into a great one — both for the intern and the firm — takes thoughtful planning and consistent engagement.

Over the years, I’ve seen both the good and the not-so-great when it comes to welcoming interns into the field. Whether you’re preparing for fall interns or already looking ahead to tax season, here are 10 field-tested strategies for successfully onboarding and engaging your interns.

1. Create a solid pre-boarding process. We’ve all had (or been!) that intern who shows up on day one, unsure where to park, what to wear or even what they’ll be doing. A simple welcome email with logistical basics and a quick overview of what they can expect during the first day or so can go a long way to reduce those first-day jitters. Consider sending out an informal welcome packet that can include things like an organizational chart, some team bios and even a light-hearted FAQ to give the new interns a sense of who the firm and team members are beyond the spreadsheets. This helps them walk through the door with confidence and sets the tone for the experience to come.
2. Make orientation meaningful. Orientation shouldn’t just be about filling out forms and finding the nearest coffee machine (though I would argue this is very important!). This is your chance to introduce interns to the firm’s culture, values and how they can fit into all of it. It’s your opportunity to introduce interns to the why behind the work and help them build pride, engagement and a stronger sense of connection from the start.
3. Assign them a mentor. One of the most impactful moves you can make is assigning each intern a mentor. This should be someone who isn’t their supervisor, but who can help them navigate everything from client etiquette to where to find the office supplies. These mentor relationships can often turn out to be the most meaningful part of the internship — a simple investment that can pay long-term dividends!
4. Set expectations early. Like any client engagement, a successful internship begins with clear expectations from their supervisor. Sit down with your intern during week one to go over what success in their position would look like. Give them more details on what projects or clients they will be working on, discuss how their performance will be evaluated and how they will receive feedback. Having these conversations early helps reduce confusion and builds trust, while giving a clear sense of purpose.
5. Give them real work. It can be tempting to save all the “grunt” work for your interns, but how rewarding would it be to give them a real, substantial project or task? I’ve noticed how interns are so much more engaged when they are given an important piece of the project. I’ve always been a big proponent of allowing interns to assist with client requests and shadow meetings or discussions with them as well. It is important to note that balance is key here; you want to challenge them but not overwhelm them.
6. Check in frequently. Make sure to keep interns on track and keep the door open for honest conversations. Open communication is recommended.
7. Help them feel like part of the team. Culture matters, and interns can only absorb it if they feel like they belong. Help them integrate into firm life by making the effort to connect — and include them in team lunches or birthday celebrations, encourage informal conversations and acknowledge milestones and achievements. Little moments of appreciation add up, and interns are more likely to stay engaged and return in the future.
8. Prioritize ongoing feedback. Giving consistent, constructive feedback is essential to an intern’s growth. Interns need feedback throughout their program to help them improve and to show that you care about their development.
9. Ask for their input. It’s important to ask them what are you are doing well as a firm and what you could be doing better. Interns often notice things others overlook, and listening to their perspectives can spark innovation and process improvements across the firm.
10. Celebrate their contributions. At the end of the internship, take time to acknowledge what your interns have accomplished by recognizing their contributions. Consider personalized notes and open discussions about future opportunities. Even if they don’t return to your firm immediately, they leave as ambassadors of the accounting profession and of your firm.

Onboarding and engaging interns is key to building the future of our profession. By investing the time and energy into mentoring young talent, we all benefit. By building thoughtful, structured and human-centered internship experiences, we help shape tomorrow’s accounting leaders and strengthen our firms in the process.