Blog

The artificial intelligence (“AI”) solutions such as OpenAI’s ChatGPT continue to gain popularity. Many CPA firms seek to leverage the use of generative AI to accelerate innovation and increase productivity. As the use of any AI technology is very organization specific, CPA firms need to obtain a solid understanding of their needs and objectives and gain an understanding of how AI works before they can begin to identify what, if any, AI opportunities are the right fit for their firm.

There has been a significant uptick of clients attempting to embed indemnification and/or hold harmless clauses in various documents executed with CPA firms to shift financial liability through contractual apportionment of risk. CAMICO has also noted an increasing trend of clients pushing back on firms’ engagement letters and proposing one-sided indemnification provisions, shifting risk and exposure onto firms beyond what would be deemed reasonable for the scope and limits of the engagement.

Daniel Fleming, WSCPA Manager of Membership, recently interviewed several key members of the Emerging Leaders Committee about their vision for the profession's future, how they manage work-life balance, and the support they've received from the WSCPA on their professional journey. Find out what these leaders had to say in the spring issue of The Washington CPA magazine.

In the latest issue of The Washington CPA magazine, Andrew Brajcich, WSCPA Chair, delves into the complexities of CPA mobility and its role in addressing the pipeline crisis.

Kimberly Scott, CAE, WSCPA President and CEO, shares her plans as a member of the National Pipeline Advisory Group to tackle the accounting profession's pipeline crisis.

For the first time in 23 years, the Washington Accountancy Act underwent significant updates on March 7, with the signing of House Bill 1920. The most substantial change in the bill is granting the Washington State Board of Accountancy greater flexibility to evaluate and accept qualifications for CPAs from other jurisdictions to practice in Washington under mobility.

It is WSCPA membership renewal time! Maintain your connection to a supportive community of accounting professionals across the state and keep saving on top-tier CPE and business services. Take just a few minutes to renew today.

In a letter addressed to the U.S. Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), Washington Society of CPAs and the AICPA voiced serious concerns regarding the enforcement of the Beneficial Ownership Information (BOI) reporting requirements.

Spring 2024 promises a vibrant array of networking events designed to blend professional advancement with lively social interaction. These events offer a refreshing twist on traditional networking. Embrace the chance to expand your circle while enjoying memorable experiences that make networking not only productive but also incredibly fun.

Is a mentor really all that valuable, anyway? In a word, yes. Read on for more explanation on why you should find one as well as tips for how to both forge a mentor-mentee relationship as well as get the most out of one.

Late last week, a federal district court ruled in the case of National Small Business United v. Yellen. The case was filed by the National Small Business Association, and the court ruled the Corporate Transparency Act (CTA) (which includes the Beneficial Ownership Information [BOI] reporting requirement) unconstitutional.

The Corporate Transparency Act (CTA) was enacted as part of the National Defense Act for fiscal year 2021. Under the CTA, millions of entities must report their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN)

The National Pipeline Advisory Group's national pipeline survey is now open. Your insights will shape profession-wide efforts to tackle the talent shortage and attract more people to a rewarding accounting career.

The Board of Directors is pleased to announce the nominees for the Society's 2024-2025 Board of Directors.

As we get started on a new year and approach busy season, it’s a good opportunity for leaders to cultivate a culture of resilience within their teams.

The Department of Revenue has partnered with certain tax preparation software companies that will allow you to file the Washington capital gains return, make payments and file extensions through their software.

During the October 18, 2023, WSCPA Member Exclusive webinar, Monette Anderson, CAE, WSCPA Vice President of Membership & Education, talked with previous WSCPA Business of the Year recipients about how they build winning cultures at their firms. Here is an excerpt from that conversation.

CAMICO just released Coverage Considerations for CPA Firms to provide further clarification regarding specific coverage-related considerations and implications of rendering CTA-related services and shared sample letters for WSCPA members.

Beneficial Ownership Information requirements went into effect on January 1. While the WSCPA and others advocated for a delay to these requirements, the dysfunction in Congress meant the delay couldn’t pass the finish line before the new year and has now been slowed by the work to avoid a government shutdown.

Businesses have many responsibilities in their day-to-day operations, which importantly includes staying compliant with federal and state regulations. It can be challenging. Here are the regulatory issues that could impact businesses the most in 2024 to help employers and HR professionals prepare for what could be coming down the road.