Above: Brian Klintworth, Joni Sundquist, Kelly Mann, Shari Munro, and Kelly Martinson attended the AICPA Spring Meeting of Council in May.

“Pipeline” has become quite the buzzword throughout the profession. The work done thus far through AICPA’s National Pipeline Advisory Group (NPAG) and NASBA’s Professional Licensure Task Force, as well as within state CPA societies and other related organizations, has been thoughtful and inclusive. These evolving efforts aim to tackle the talent shortage and attract more people to a rewarding career in accounting. Although they differ, both initiatives focus on sustaining and improving the profession while creating long-lasting solutions to benefit future generations of accountants. At this time of great change and transformation, I am excited to be a part of NASBA’s State Society Relations Committee, where I am able to learn and share with some of the best and brightest who represent the CPA profession. In this issue of the Nebraska CPA, you will find two articles, “Why Aren’t There Enough CPAs In The Pipeline—And What Can We Do About It?” and “NASBA Task Force Considers New Path to Licensure,” that discuss the efforts of the AICPA and NASBA in greater detail. In addition, I encourage you to take a look at NPAG’s “Accounting Employer Checklist” as well.

AICPA Spring Meeting of Council

Many forces are shaping the profession and creating uncertainty today, but each of us has the power to make a difference. That was one of my key takeaways from the recent AICPA Spring Meeting of Council, held in Orlando, Fla., May 21‑23. A quote from futurist Dan Burrus, presented at the meeting, perfectly captures this concept: “Change always comes to us from the outside in, forcing us to react, manage crises, put out fires. In contrast, transformation comes from the inside out, created by you and your team.”

Joining me at the AICPA Council meeting were Society Chairman and outgoing AICPA Designated Council Representative Kelly Martinson of Lutz, Society Chairman-Elect and incoming AICPA Designated Council Representative Brian Klintworth of HBE LLP, Society Past Chairman and AICPA Elected Council Representative Shari Munro of Frankel LLC, and Society Board member and AICPA At-Large Council Representative Kelly Mann of AuditMiner. Congratulations to both Klintworth and Mann on being newly elected members of the AICPA Council.

“The AICPA Spring Council meeting was another great opportunity to connect with other CPAs on current issues impacting our profession, particularly the pipeline discussions that have been part of the last few Council meetings,” said Kelly Martinson.

She found one of the most thought-provoking sessions to be on the subject of artificial intelligence. “We’ve all been exposed to it in some fashion; some more than others. I think a lot of us are thinking about how we might be able to use it for client work, gaining efficiencies with this tool,” she explained.

During the meeting, we learned that spending on AI software is projected to grow to $297.9 billion by 2027, with a compound annual growth rate (CAGR) of 19.1%, according to Gartner. However, the technology research company estimates that more than 90% of employees are requesting GenAI training but less than 10% of employers are providing it at a satisfactory level.

“I was intrigued by the discussions during this interactive session,” said Martinson, “and the many ways AI could enhance the operational aspects of a firm or organization. It feels like one of those areas where ‘the possibilities are endless.’”

You can learn more about the Gen AI landscape and opportunities for the profession in CPA.com’s new Generative AI toolkit at www.cpa.com/sites/cpa/files/2023-11/GenAI-Toolkit-CPAcom.pdf.

In addition, Martinson enjoyed hearing the incoming chairman of the AICPA, Carla McCall, describe her journey in the profession. “Her energy is contagious and inspiring,” declared Martinson. McCall will be presenting on the “State of the Profession” during day one of the Nebraska Society of CPAs’ Fall Conference, scheduled for Oct. 29-30 at the Riverview Lodge at Mahoney State Park in Ashland.

“It was also pretty cool to be in the room when Barry Melancon announced his retirement,” she said. “Barry’s updates have always been one of the most interesting portions of the Council meetings, and this was no exception.”

Brian Klintworth found his first time attending the AICPA Spring Meeting of Council as a representative of Nebraska to be an interesting and educational experience. “Of particular note, work done by the National Pipeline Advisory Group on putting together a plan to help continue to develop a strong pipeline of accounting talent for years to come is exciting, and I look forward to being involved in work at the local level to help continue to strengthen the pool of future accountants serving Nebraska and beyond.” He added that “a lot of the conversation focused on trends that are continuing to change the direction of our profession, including increased consulting and advisory work, the role of technology and AI in our business, and continuing changes in how we serve our clients in the best way possible. I am always excited for ways that our profession can become better, and I think that we have a lot of great changes in the works!”

Shari Munro remarked, “I am always invigorated after attending an AICPA Council meeting. Our profession is full of intelligent, talented, and committed CPAs. While we are currently faced with a shortage of people entering our profession, I believe this challenge will only improve our profession as we work together to solve our issues and enact real change. We must ensure we remain our client’s most trusted advisor and continue to fulfill our responsibilities to the financial and capital markets that rely on us,” she added.

Munro expressed gratitude to the members of the National Pipeline Advisory Group for their diligent work in analyzing the pipeline problem and creating a strategy report to guide us through these challenging times. “I invite all CPAs to take the Pipeline Pledge at accountingpipeline.org/participate and make a commitment to the future of our profession and its members of tomorrow,” she said. You will find NPAG’s executive summary and draft strategy report at accountingpipeline.org/draft-report.

Kelly Mann found the AICPA Spring Meeting of Council to be an insightful experience. “I learned so much more than I was expecting,” she said. “I was particularly impressed by the analysis conducted by the National Pipeline Advisory Group on the shortage of accounting talent and the potential solutions they proposed. Inspired by their efforts, I took the Pipeline Pledge and am committed to raising awareness of our profession’s value,” emphasized Mann. Suggested activities might include visiting a local middle school, participating in a high school career fair, hosting a networking event for accounting majors, or mentoring a CPA candidate through the licensure process or their first year in the workplace.

“Additionally, the unveiling of the new PCPS Firm Business Model Transformation toolkits was a highlight,” noted Mann. “These resources are poised to be immensely beneficial to our members as we navigate the evolving landscape of our profession.” You’ll find all the Private Companies Practice Section (PCPS) toolkits at aicpa-cima.com/topic/firm-practice-management.

Special Session on the Horizon

Gov. Jim Pillen has announced that the Nebraska Legislature will be convening for a special session focused on providing property tax relief for Nebraskans. The Governor has told legislators to clear their schedules from July 26 to Aug. 15. During the special session, Nebraska’s state senators will consider broadening the tax base and changing the laws that govern the property tax process. Your Society will be keeping a close eye on the work of the Legislature as the session unfolds. For an excellent breakdown and estimated revenue of Nebraska’s 100-plus sales tax exemptions, visit the Nebraska Examiner at bit.ly/NE-Sales-Tax-Exemptions.

Please feel free to reach out to me with your thoughts and issues of concern. Together, we will help shape and safeguard the profession while navigating the many challenges and opportunities ahead.

Joni Sundquist is president and executive director of the Nebraska Society of CPAs. You may contact her at (402) 476-8482 or joni@nescpa.org.