The Relevancy of the CPA Profession

By Joel Williams, CPA

“There’s never been a better time to be a CPA.” I say this to students whenever I speak with them about the profession. Right now, I believe this sentiment rings truer than ever.  

It’s my honor to serve as the WSCPA Board Chair for the next year. We all know that our profession faces multiple challenges. I embrace these challenges as opportunities for us to continue demonstrating our relevance to clients (and our organizations) and students as they consider entering our profession.  

As I think about what the next 12 months might look like, three key topics come to mind: 

1. Modernizing the licensure process and addressing mobility  
2. How AI will impact how we serve clients 
3. Providing advice to clients in an increasingly uncertain environment 

Alternate pathway and CPA mobility 

At the recent AICPA Spring Council meeting I attended in May, much was made of the recent Uniform Accountancy Act (UAA) amendments, which allow for an alternate pathway for candidates to be licensed. This pathway requires a bachelor's degree with an accounting concentration, two years of professional experience and passing the CPA exam. Notably, the alternate pathway does not require 150 credit hours to become eligible to sit for the exam, potentially increasing the number of students entering the CPA profession. As professionals, our duty is to make sure students understand the change and encourage them to look at the profession, regardless of the pathway they select.  

With this change comes the necessity to maintain CPA mobility so that professionals can practice outside their state of licensure without the need to obtain a license in other state(s). Each state will approach mobility differently, but it’s important that we not have a patchwork of rules across the country, limiting our ability to serve clients in multiple jurisdictions. Advocacy will be key to convincing legislators to act fast on this topic.  

AI and the CPA  

As we all know, artificial intelligence (AI) adoption has been fast and furious. If you haven’t begun to use the tool regularly, it’s not too late! However, the time is now to consider how you’ll use AI in your practice to become more efficient, more creative, and how you’ll use it to serve clients. Organizations are looking to their advisors for guidance on how best to use this emerging technology and, importantly, how to mitigate the risks that are associated with using the tool. Who better to provide guidance regarding risk than CPAs? If we don’t quickly become well versed in AI and can point our clients in the right direction on how to use this tool, technology consulting firms will be glad to show our clients the way. This is a golden opportunity for our profession that cannot be missed.   

Increased uncertainty  

From the global pandemic to the rise (and fall) of remote work to the uncertainty created by shifting federal economic policies, business leaders have been battered by forces they cannot control. In Washington State, we face potential federal tax law changes alongside new state tax laws that were recently passed.  As usual, CPAs will be standing shoulder to shoulder with their clients, identifying ways to make the most of the changing tax landscape. In many ways, the challenges faced today are unprecedented. Regardless, businesses know they can count on CPAs to help them navigate these choppy waters as they’ve done in the past.  

Looking ahead 

These three key topics I’ve outlined, and those unmentioned, will test our members in the months to come. The WSCPA is committed to supporting you with CPE, advocacy and networking opportunities to help you excel professionally. Please take advantage of all your membership offers and provide suggestions on how we can provide more value. We look forward to hearing from you.    

Despite all that’s in front of us, I still believe there’s never been a better time to be a CPA. I hope you do too.