Journal of Accountancy Podcast

Tax practitioners haven't had it easy, with pandemic-related delays and legislative changes in the middle of tax season making their jobs more difficult. Year-end planning can't eliminate all the uncertainty, but it can help. April Walker, CPA, CGMA, lead manager on the AICPA's Tax Practice & Ethics team and host of the Tax Section Odyssey podcast, shares advice for practitioners as the calendar year winds down. Also, get a "your"/"you're" refresher, a preview of a recently published grammar quiz, and updates on news related to the IRS and the PCAOB.

In the September issue of the Journal of Accountancy, Marie Brilmyer, CPA, said in The Last Word: "I think my greatest challenge has been in figuring out how to step back or when I need to step back." In this podcast episode, Brilmyer expands on the need to prioritize and offers advice for others who may be seeking balance. Also, hear a preview of other JofA articles from the recent print issue and from our news page.

Several ethics-related exposure drafts are in focus in this week's episode. Toni Lee-Andrews, CPA, CGMA, the director of the AICPA's Professional Ethics Division, shares details on three upcoming EDs, a timeline for comments to the drafts, and more about the division's streamlined comment process. Lee-Andrews also previews two recent episodes of the division's Ethically Speaking podcast. Visit aicpa.org/ethics for more ethics resources. Plus, get a refresher on what makes a good cover letter, and keep up with top recent news in the Journal of Accountancy.

For the September issues of The Tax Adviser and the Journal of Accountancy, more than 2,100 tax professionals shared opinions on tax preparation software. Editors Alistair Nevius and Paul Bonner discuss details of the annual tax software survey — what CPAs liked and disliked, and the difficulties of the most recent tax season for preparers and the software companies.

Although finance executives continue to be bullish about their organizations' economic prospects, inflation and a difficult labor market are causing concern in the CPA Outlook Index in the AICPA Business and Industry Economic Outlook Survey. Ken Witt, CPA, CGMA, takes a closer look at the findings and what they mean for companies. Also, Ebonie Jackson, CPA/CITP, CGMA, shares insights on how finance professionals and accountants can lead strategic change from her recent case study. Also, you'll hear the findings from the latest CPA Firm Top Issues survey, and we'll update you on the latest from the Shuttered Venue Operators Grant program.

There are two committees working on developing new quality management standards for auditors. Neil Amato talks to Sara Lord, CPA, the chair of one of those committees, about the feedback they are receiving, how the new standards incorporate a risk-based approach, and the next steps in the process. Also, Drew Adamek reviews a new study about ESG assurance opportunities and explores the potential tax implications of LIFO inventory interruptions due to COVID-19.

The Senate recently passed a $1 trillion infrastructure bill, which includes several tax provisions being monitored by the AICPA. Ed Karl, CPA, CGMA, the AICPA's vice president–Tax Policy & Advocacy, details several provisions in recently proposed legislation that would affect CPAs. Also, the episode mentions recent coverage in the Journal of Accountancy on updated single audit guidance included in the Office of Management and Budget's 2021 Compliance Supplement. And it tries to answer a question posed in a recent CPA Insider article: Will sweatpants come to the office when we return?

In the July issue of the Journal of Accountancy, Carrie Kruse, CPA, CGMA, the economic development administrator for the city of Des Moines, Iowa, wrote about how her organization improved its process for interviewing job candidates remotely. In this podcast episode, Kruse goes into detail about the types of questions asked and how the revamped process can be applied to future interviews. Also, hear about news items related to the employee retention credit, cryptoasset reporting, and more.

Businesses' approach to fraud and internal controls has undergone drastic change as a result of the pandemic. Danielle Supkis Cheek, CPA/CITP, CGMA, the director of entrepreneurial advisory services at the firm PKF Texas, says that rules around things such as on-time payment of payroll taxes now have to be reconsidered. She shares more about the unintended consequences of pandemic-related relief, advice for applying technology to limit fraud, and more. Also, hear more about recent articles and an AICPA & CIMA ENGAGE 2021 session on the topic of client advisory services.

This week's podcast episode brings together the voices of three presenters at AICPA & CIMA ENGAGE 2021. One common theme in their interviews is the talent pipeline — how more candidates can be drawn to the profession, how existing talent can be retained and trained in a more tech-driven business environment, and more. Hear from AICPA board Chair Bill Pirolli, CPA/CFF/PFS, CGMA; Tom Hood, CPA/CITP, CGMA, executive vice president of business engagement and growth for the Association of International Certified Professional Accountants; and former AICPA board Chair Kimberly Ellison-Taylor, CPA, CGMA.