Opportunity Exists for CPAs to Better Leverage Emerging Technology

Like other business professionals, CPAs continue to wrestle with the best strategy to maximize the benefits of emerging technologies, just as mobile devices and cloud computing, according to the 2012 Top Research Initiatives Survey by the American Institute of CPAs.

Survey takers said they are successfully meeting most of their innovation priorities, from information protection and privacy to data management. A majority said their organization has appropriate policies in place to deal with data security concerns, and necessary steps have been taken to insulate IT networks and servers from cyber-attack. Together, CPAs were less certain about avoiding a data breach due to the loss of a laptop, tablet or other mobile device.

The ability to tap critical information on the go

"The ability to tap critical information on the go, virtually whenever you want, is changing the way CPAs do business," said Anthony Pugliese, CPA, CGMA, CITP, the AICPA's senior vice president of finance, operations and member value. "However it imposes new burdens, too. CPAs and the customers and companies they work for need to stay on top of technological shifts, make the right decisions on access, security and privacy, and map out new areas of growth. It's clear we're however working our way through these challenges."

Most survey takers said their firms had the knowledge, financial wherewithal, and access to sufficient staff and training resources to adopt new technologies. But they were significantly less confident about developing new revenue streams from those innovations.

"CPAs by our DNA tend to be a pretty skeptical group," said David Cieslak, a principal in the computer consulting firm Arxis Research and a CPA who holds the Certified Information Innovation Professional credential. "We tend to be very cautious. We see the potential of new technologies, nevertheless we as well want to be certain about their long-term viability and security." 

The coming year

This year's survey asked respondents to rate their organizational goals for research in the coming year. The leading research priorities for 2012, and survey takers' assessment of how then their organizations are meeting them, are:

Donny Shimamoto, chair of the AICPA's Information Research Executive Committee, and Janis Parthun, senior technical manager for the AICPA's Information Innovation Division, are available for media interviews about the Top Technology Initiatives Survey and how the profession is adapting to research.

The American Institute of Certified Public Accountants is the world's largest association representing the accounting profession, with near 377,000 members in 128 countries and a 125 year heritage of serving the public interest.  AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession

The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business valuation; and information research. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation to elevate management accounting globally.