AICPA Focuses on Top Technology Initiatives

In the near future, members of the American Institute of CPAs can expect to learn more about this year’s Top Technology Initiatives revealed in the AICPA’s survey last month. The AICPA is planning to release a series of webcasts starting in the summer that will cover areas that were identified as being a top initiative.

The AICPA has already held a webcast to look at the second tier results and discuss the new methodology used this year. While the webcast highlighted different factors professionals should look at when managing their practices, it mostly focused on the results of the survey, says Donny Shimamoto, CPA.CITP, chair of the AICPA's Information Technology Executive Committee and founder of Intraprise TechKnowlogies LLC.

“We covered a lot of good information during the webcast and we still couldn’t cover it all during the one webcast,” says Shimamoto. “Members will start seeing more about the initiatives. In fact, the topics are scheduled to appear on the agenda for TECH+, the Controllers Workshop, the E.D.G.E. and the Not-For-Profit Conference.”

In addition to identifying the top priorities for accounting professionals, the survey also revealed areas of deficiencies. The top three areas were business intelligence, information management and risk management. These three areas all tie into each other and it’s important for professionals to ensure they have accurate, relevant information, focusing on that information to make better, faster decisions and have good quality and privacy controls in place within their practice, advises Shimamoto.

“One of the ways for professionals to use the survey data is to take a look at what their firm is doing and compare that to the list,” says Shimamoto. “Use it as a completeness check to make sure your firm is addressing the top priorities and not falling behind everyone else in the profession.”

A replay of the webcast is available for AICPA IT Section members. In addition, members of the AICPA can download the full results and whitepaper for the AICPA’s 2012 Top Technology Initiatives Survey and IT Section members can download additional whitepapers each month.

Members with feedback and questions regarding the Top Technology Initiatives or other areas are invited to email the AICPA IT Section.