03 2024 CPAmerica Advantage Newsletter

News from your accounting association

Making MOVEs towards equity and career sustainability

Interview with Bonnie Buol Ruszczyk President, Accounting MOVE Project

The Accounting MOVE Project (MOVE) was started in 2010 by Joanne Cleaver, having first developed the MOVE methodology to support Working Woman magazine’s first “Top 25 Companies for Executive Women” list in 1998. Bonnie Buol Ruszczyk took over as president of MOVE in 2022.

March 2024

► Making MOVEs towards equity and career sustainability

► Preferred Provider Spotlight - LeaseCrunch

► Upcoming Events

► Member News

► CPAmerica Insights –Grace Horvath

within their structure.

According to their website, MOVE measures both demographic data and workplace culture to understand what works now, in today’s economy, to advance women and other underrepresented groups in firm leadership.

MOVE’s methodology looks at four different factors that have been proven essential to women’s career success. 1) Money: fair pay practices; 2) Opportunity: advancement and leadership development; 3) Vital Supports: work-life programs that remove barriers; and 4) Entrepreneurship: operating experience for managing or business ownership.

They began with analyzing a major problem in the accounting industry. Currently, 75% of CPA firm partners are eligible for retirement, but student enrollment in accounting and finance degrees is down more than 17%. The most staggering statistic being that, on average, 50% of women opt out or leave firms before reaching partner.

For the participating firms, MOVE researchers worked with accounting and advisory firms across the country with at least 70 employees to ensure they displayed a clear hierarchy

“Women as a percentage of the partner group has increased, although not to the level that we would expect,” said Ruszczyk. “We find the ‘magic’ percentage is around 31%. Studies show that when you hit this percentage, that creates a large enough group to begin being accepted as equals versus ‘others,’ and their opinions are taken more seriously.”

As the workforce changes and firms continue to experience staffing challenges, it has become more important than ever to be aware of changes needed in the accounting industry. The 2023 data shows that firms need to begin embracing “career sustainability” in providing early leadership opportunities to young Millennials and Gen Z, creating programs that allow younger women to connect with female partners, including managers in firm succession planning, and inspiring team members at every stage.

One area where career sustainability plays an important role is with workplace flexibility, not just for women, but for all employees of the firm.

“After the pandemic, we’ve seen a lot more flexibility in where you work and remote opportunities, and more flexibility in mental health benefits,” shared Ruszczyk. “This benefits women and parents who need to pick children up from school at 3:00 p.m., but the flexibility is ultimately positive for everyone in the firm.”

Another MOVE trend Ruszczyk shared is flexible partnership models, currently being offered at 13% of MOVE firms. These models

feature scaled partnership tracks that not only expand

women’s routes to the top, but also signal equitable modes of advancing. Benefits can be enormous for women, veterans, people of color and other underrepresented groups.

MOVE also examines DEI (diversity, equity and inclusion) programs, and as Gen Z becomes a larger part of the workforce, they are going to be looking at employers differently. Ruszczyk sites a 2023 Benevity survey which states that 95% of employees now weigh a prospective employer’s DEI offers when choosing between job offers. The survey also states that 78% of employees agree they would not consider working for a company that fails to commit significant resources to prioritizing DEI initiatives.

“There are people who don’t think the data presented in this report is important, but study after study shows that firms that do focus on inclusion, as well as diversity and equity, make more money, have better retention rates, and are more of an employer of choice, especially with Gen Z,” said Ruszczyk.

MOVE’s theme for 2024 involves how private equity is changing the industry and career paths. If you’re interested in participating in the 2024 project, you can sign up this month and the next report will be released in October.

You can find out more about the Accounting MOVE Project and read the full 2023 report at www.accountingmoveproject.com. You can also contact Bonnie Buol Ruszczyk at bonnie@accountingmoveproject.com

Bonnie Buol Ruszczyk

Preferred Provider Spotlight LeaseCrunch

LeaseCrunch, the easiest-touse lease accounting software on the market, streamlines compliance with ASC 842, GASB 87, GASB 96, and IFRS 16. Purpose-built for CPA firms, it drastically reduces the time needed to transition, account for, and maintain leases.

The intuitive interface, coupled with in-app wizards and technical guidance makes it easy to enter a lease and generate audit-ready reports in minutes.

The dual access functionality provides seamless collaboration between CPA firms and clients, eliminating version control and communication issues. Created and backed by experienced professionals, including CPAs, former Big Four auditors, and a former member of the FASB staff, LeaseCrunch helps more than 625 CPA firms simplify the complexities of lease accounting for their clients.

For more information, visit www.leasecrunch.com or email emily.lewis@leasecrunch.com

2024 A&A Conference & Technology Roundtable

Napa, California | July 16-19

The Meritage Resort & Spa

This year’s A&A Conference and Technology Roundtable will be held July 16-19 at the Meritage Resort & Spa among the rolling vineyards of Napa, California. Your annual meetings are where you’ll learn the latest industry trends, earn CPE, and share best practices and build relationships with your fellow CPAmerica colleagues and our Preferred Providers. We’ll also have plenty of member sharing opportunities, networking with fellow members, and Dinner at the Vineyard!

We are also offering a Yellow Book Pre-Conference prior to A&A and a Technology Pre-Conference before Technology Roundtable.

Featuring these influential speakers and more: Dr. Anirban Basu, Sage Policy Group | Don Tomoff, Invenio Advisors Kristin Scroggin, genWHY | Jim Martin, Real World Seminars of Georgia Brian Tankersley, K2 Enterprises | Randy Johnston, NMGI

Be sure to book your hotel guestroom before June 24

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LattaHarris announces two principal promotions

LattaHarris, a leading accounting firm in Iowa, is pleased to announce the promotions of Vance Glaser and Elainie G. Turner to principal. Glaser joined the firm in 2018 and will continue to focus on providing comprehensive financial services, including tax compliance and consulting, financial statement analysis, and accounting solutions tailored to meet the evolving needs of businesses and individuals. At an incredibly young age, Turner has achieved what few have—becoming the youngest partner in the firm’s history. After joining the firm as an intern in 2015, she currently specializes in small business and agriculture taxation and ensures seamless financial management support through bookkeeping, payroll, sales tax and QuickBooks services, as she is currently the director of accounting.

Company 10 years ago, specializing in tax planning and preparation for private equity real estate companies, small businesses, and corporations.

RFH CPAs announces two new partners

rFH Cpas congratulates two individuals who have reached the significant milestone of being named partner.

promoted to manager; Olivia Calcasola has been promoted to tax supervisor; Karen Korpinen has been promoted to senior associate; Danny Krasin has been promoted to senior associate; Mia McDonald has been promoted to senior associate; and John Carey has been promoted to associate. MBK also welcomes to their firm John O’Brien, CPA, ABV; Anne Marie Rome, CPA; Ryan Sabin, CPA; Marilyn Kelleher, JD; Cynthia Wage, CPA, MST; Jeffrey Atkins Jr.; Jonathan Lemoine; Justin Swajkowski; Caitlin Humphrey and Kathleen Macy

Albin, Randall & Bennett announces two promotions

Tyler Fallin, CPA, CFE, and Kevin Fisher, CPA, CGFM, have both been promoted to partner. These new partners have distinguished themselves through their ability to inspire, mentor, and lead the team around them. They have dedicated significant portions of their careers here, demonstrating their commitment to our firm and clients. RFH looks forward to watching and assisting them as they grow into these new roles. Both Fallin and Fisher joined RFH as staff accountants in 2012 and specialize in governmental and nonprofit auditing.

Larson & Company announces three new partners

Larson & Company is proud to announce the addition of three new partners to their leadership group. All were promoted from within the firm, and some began their careers with Larson as interns. Allison Johnson, CPA, and Daniel Bringhurst, CPA, were promoted to audit partners and Amber Robbins, CPA, was promoted to tax partner. Johnson started with Larson as an intern 12 years ago and has specialized in audits of insurance companies, captive insurance companies, and employee benefit plans. Bringhurst started with Larson as an intern 11 years ago and has specialized in audits of captive insurance companies, non-public companies, and mergers and acquisitions. Robbins started at Larson &

Mathieson, Moyski, Austin & Co., LLP announces new partner

Shannon Bachara Salinas, CPA, has been promoted to partner at matHieson, moyski, austin & Co. (mma).

“We are thrilled to welcome Shannon to the leadership team,” said Ron Austin, CPA, managing partner.

“Her exceptional dedication and expertise have significantly impacted the growth of our firm.” Salinas joined MMA in 2015 and has more than 20 years of experience in accounting, focusing on audits servicing insurance risk pools, employee benefit plans, professional services, construction contractors, and not-for-profit organizations.

aLBin, randaLL & Bennett (arB) is pleased to announce the promotions of John E. Hadwen, CPA, and Benjamin A. Lord, CPA, CCIFP, to principals of the firm. Hadwen joined ARB in 2021, and specializes in tax consulting, planning, and compliance for businesses and ownership groups, and has notable expertise in automotive dealerships, construction, real estate, and manufacturing. Lord joined ARB in 2013, and specializes in providing consulting, tax, and accounting services to clients in the construction, real estate development, manufacturing, and distribution industries. Both professionals have made substantial contributions to the firm and ARB is very excited to see what they accomplish in their new roles.

Vesta and Vanden Heuvel & Associates, CPAs, LLC, merge

Meyers Brothers Kalicka, P.C. announces 8 promotions and 10 new hires

meyers BrotHers kaLiCka, p.C. (MBK) is proud to announce eight team member promotions: Matthew Nash, CPA, has been promoted to partner; Dawn Badorini has been promoted to senior manager; Daniel Eger has been

Vanden Heuvel & Associates, CPAs, LLC, business specialists in the Greater Madison area, and Vesta, a CPA-led advisory firm formerly known as Huberty, are pleased to announce their merger. The Greater Madison area is a vibrant talent hub and home to many thriving businesses. The combined firm’s commitment to the Madison community is aligned with their belief that bringing expertise and nurturing relationships happens locally. “We are grateful for this opportunity,” said Nathan Volkomener, CEO of Vesta. “We feel incredibly lucky to find ourselves in this position. Both firms have positive momentum going into this merger. It’s a great move from every perspective.”

Vance Glaser

Tyler Fallin

Kevin Fisher

Elainie Turner

Allison Johnson

Shannon Bachara Salinas

Benjamin Lord

John Hadwen

Amber Robbins

Daniel Bringhurst

AI and Women in Accounting: Risks, Opportunities, and

Welcome to the

March issue where we recognize International Women’s Day (IWD). As I’ve reported, one 2024 goal for CPAmerica is developing resources in artificial intelligence (AI). For this article, I found myself wondering about the impact of AI on women and specifically women in the profession. I was pleased with the amount of information and thought leadership dedicated to this topic. I was also concerned with the consistent theme I saw that was aptly summarized in a recent commentary from the Brookings Institute that shows that AI poses a disproportionate risk to women. Further research revealed most people living with a certain level of “AI anxiety,” worrying that technology will outpace people in doing their jobs. Numerous surveys reveal that women are significantly more concerned with the professional and personal impact of AI than men. So, what can firm leadership do to adopt AI for the business and protect women in the workforce?

Grace Horvath, President & CEO

and repetitive tasks, improving the accuracy and reliability of data and reports, and enhancing the customer experience. However, AI can also disrupt the existing business models and revenue streams of firms. It can require significant investments in technology, infrastructure, and talent, change the skill requirements and demand for accounting professionals, and affect the diversity and inclusion of the workforce.

Here are some recommendations to consider how to adopt AI and protect people in the profession:

• Develop and communicate a clear and strategic vision for AI, and align it with your business goals, values, and culture.

• Invest in the technology, infrastructure, and talent that are needed to support AI, and monitor and evaluate its performance, impact, and risks.

We already know AI is reshaping the profession, and affecting the skills, roles, and opportunities of the workforce, especially for women, who make up the majority of the fields of accounting, bookkeeping, auditing and payroll. Contemplating the benefits and the risks of AI for accounting, we know it can enhance the quality, speed, and efficiency of accounting services. Uses include analyzing large volumes of data, automating complex

Women have made considerable progress in the profession, but they still face many barriers such as gender pay gap, and work-life balance as they are still the predominant caregivers of both children and aging parents. AI can potentially exacerbate these issues, or create new opportunities for women, depending on how it is implemented and managed. AI can threaten the job security and career prospects of women in accounting, especially those who perform routine and lower-value tasks that are more likely to be automated. Consider that women represent the majority workforce of each of those fields I mentioned above that largely make up the CAS practice. Every one of those tasks are predicted to be nearly 100% automated, thus creating new skill requirements and demand for people who can leverage their adaptability and communication skills. It can also increase the representation and leadership of women in accounting, especially those being empowered to take advantage of the learning and professional development that mastering AI will require.

Your firms have a crucial role to play in ensuring that AI is used to its best ends, and that women are not left behind in the process.

• Provide training and development opportunities for your employees and help them acquire skills and competencies such as time management, adaptability, complex problem solving and communication.

• Embrace diversity and inclusion in your firm, and ensure that women have equal access to opportunities, resources and support.

The profession is being transformed in many ways with AI being just one part that demands a need to think differently about people in the profession. CPAmerica is dedicated to the ongoing development of resources including NextGen (with its emphasis on power skills), the growing Center of Excellence for AI, and collaborating with experts for presentations and content to support you. Don’t forget our active Women Leaders’ Group Initiative quarterly calls presented by members and outside experts discussing relevant and timely topics. Your firms have a responsibility and an opportunity to adopt technology for your business and provide an environment that retains and advances top talent. By doing so, you enhance your competitiveness, reputation, and social impact.