AICPA News is a round-up of recent announcements from the American Institute of CPAs, the Association of International CPAs, and the Chartered Institute of Management Accountants (CIMA).
CPAs Across America Join Forces to Inspire Students to Pursue Accounting Careers
Accounting Opportunities Experience (AOE), a month-long nationwide initiative designed to introduce high school students to the dynamic opportunities available within the accounting profession, kicked off for the fourth consecutive year on November 3.
Throughout November, CPAs and state CPA societies across the United States hosted classroom visits, career fairs, and community events to inspire the next generation of accounting professionals. The goal this year was to reach 50,000 high school students through in-person and virtual engagement activities.
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Many states have officially designated November — or specific weeks and days within the month — as “Accounting Month,” “Accounting Week,” or “Accounting Day,” reflecting a nationwide commitment to promoting accounting as a rewarding and accessible career path.
AOE month also included International Accounting Day on Monday, November 10, a global celebration recognizing the essential contributions of accountants to business transparency, economic growth, and public trust.
AICPA Holiday Spending Survey Reveals Budgeting, Debt and a Bit of Regret
A new survey conducted by The Harris Poll on behalf of the AICPA reveals that Americans will make some cut-backs in their holiday spending.
“The 2025 holiday season could see many Americans balancing the desire to celebrate with the reality of financial strain,” says Dan Snyder, CPA/PFS, Director of AICPA Personal Financial Planning
Spending Trends – gifts and travel
- This season, 42% of holiday shoppers and travelers expect to spend over $1,000 on the holidays (including travel, gifts, food/entertaining), while 50% plan to keep their spending at or below that threshold.
- 36% of Americans say they’ll spend less on holiday gifts while 35% of those planning to travel say they’ll spend less on travel then last year.
- One in four Americans usually budget for holiday expenses but admit they won’t stick to it.
Debt Management
- Nearly half (47%) of those who planning on holiday spending anticipate going into debt, with male shoppers (52%) more likely to go into debt than their female counterparts (42%).
- 79% of shoppers plan to use a credit card for holiday spending, but 52% don’t expect to pay it off in full when the bill arrives.
- Percentage of those who expect to have holiday debt this year by age:
Americans aged 18-34: 64%
Americans aged 35-44: 58%
Americans aged: 45-54: 48%
Americans aged 55-64: 36%
Americans aged 65+: 23% - Thirty-six percent of those who expect to have holiday debt this year plan to use a flexible payment plan to pay off that debt.
- Thirty percent of those who expect to have holiday debt plan to use their tax refund to settle their holiday debt.
- 25% of Americans cite higher prices as barriers to paying off debt.
The AICPA offers helpful tips to help manage holiday spending and debt:
- Determine the people you plan to purchase gifts for and how much you’ll spend before you start shopping.
- Track your spending as you go. Seeing how much you’ve spent and how much is left to spend can help you stick to your budget.
- When it comes to travel, look at any points you’ve earned through your credit card(s) that may help you save on flights, hotels or car rental. Gas points can help you save if you’re traveling by car.
- Try to book as far in advance as possible and be flexible with your dates. Use apps to track prices to find the best deal for you.
- If you owe money on your credit cards, try and pay them off as quickly as possible. If you know you won’t be able to pay your balance in full, try to figure out how much you can pay each month.
AICPA and CIMA Introduce Global Women to Watch Program to Celebrate Trailblazing Women in Accounting
The Association of International Certified Professional Accountants, together as AICPA and CIMA, recently introduced the 2025 AICPA and CIMA Global Women to Watch program, recognizing exceptional women professionals who are shaping the future of accounting and finance through leadership, innovation and service.
Recipients in the Global Women to Watch program are honored in two categories: Emerging leaders and experienced leaders. The program recognizes women making an impact on the profession both within their organizations and across the broader accounting and finance profession. It also elevates women at all stages of their career, setting the stage for those who have and will come after them.
This new program was established with the help of the American Institute of CPAs (AICPA) Women’s Initiatives Executive Committee (WIEC), whose mission is to celebrate and elevate the achievements of women in the accounting and finance profession and to champion their continued growth.
2025 AICPA and CIMA Global Women to Watch Honorees
Emerging Leaders
Recognizing rising professionals who are making meaningful contributions to the accounting profession and demonstrating leadership potential.
- Nicola Ellam, CIA, BFP — Managing Principal of NY/NJ Offices, CLA (CliftonLarsonAllen LLP) – U.S.
- Hope Brown, MSA, AFSP — Founder & CEO, The Tax Minded Bookkeeper (a Brown Business Solutions, LLC company) – New York, N.Y.
- Rachel Annelise Chaney, CPA — Tax Manager, Bernard Robinson & Company, LLP – Greensboro, N.C.
- My (Rosey) Flaherty, CPA, MSA — Tax Manager, BPM, LLP – Natick, Mass.
- Sarah Flishcel, CPA — Director of Audit Transformation and Training, AAFCPAs – Denver. Colo.
- Syeda Sana Kaukab, ACMA, CGMA — Manager, Expense Monitoring and Analytics, Habib Bank Limited (HBL) – Sindh, Pakistan
- Wassia Kamon, CPA, CMA, MBA — Chief Financial Officer, Access to Capital for Entrepreneurs – Norcross, Ga.
- Kendra LaFleur, CPA — Director, Forvis Mazars – Atlanta, Ga.
- Stacey Mahajan, CPA, CGMA, CITP — Assistant Controller, Ambiq – Plano, Texas
- Carey Miller, CPA, CFF — Managing Director, J. S. Held – Reston, Va.
- Tania Miranda, CPA — Director, PKF O’Connor Davies, LLP – New York, N.Y.
- Alexandria Romero, CPA — Governmental and Leadership Training Facilitator, Galasso Learning Solutions – Pueblo, Colo.
- Shayla Scott, CPA — Senior Manager (Audit/Assurance), Mengel Metzger Barr & Co – Rochester, N.Y.
- Jaclyn Veno, CPA — Learning & Development Specialist, Galasso Learning Solutions – Charlotte, N.C.
- Zoe Yang, CPA — Assistant Controller, International Association for Dental Research – Washington, D.C.
- Experienced Leaders
- Honoring seasoned professionals whose leadership and contributions have had a lasting impact on the accounting profession.
- Michelle Avery, CPA, CFF — Senior Managing Director, Financial Investigations, J.S. Held – Alpharetta., Ga.
- Jonyce Bullock — CEO, Squire – Orem, Utah
- Melisa Galasso, CPA, CGMA — CEO/Founder, Galasso Learning Solutions – Charlotte, N.C.
- Amy C. Horner, CPA, MBA, DBA — Founder and Principal Consultant, TRUE NINE – Houston, Texas
- Tricia Katebini, CPA, MBA — Partner, GRF CPAs & Advisors – Bethesda, Md.
- Anita Krishnan — Professor of Accounting Education, University of Southampton – Southampton, U.K.
- Jan Lewis, CPA — Tax Partner, BMSS Advisors & CPAs; Vice-Chair of the Board, Association of International CPAs – Ridgeland, Miss.
- Nancy McClelland, CPA — Owner, The Dancing Accountant – Charlotte, N.C.
- Jackie Meyer, CPA, DSL — Founder, President, TaxPlanIQ – Southlake, Texas
- Lisa Myers, CPA, CGMA — Managing Partner, Boyer & Ritter LLC – Philadelphia, Pa.
- Trisha Nomura, CPA — Owner, Ascend Consulting, LLC – Honolulu, Hawaii
- Janice Stucke, CPA — CFO & Foundation Treasurer, CREW Network & CREW Network Foundation – Atlanta, Ga.
- Wendy Stevens, CPA — Partner, Forvis Mazars; National Director of Profession Relations – Washington, D.C.
- Twyla Verhelst, CPA — Vice President, Industry Relations and Community, Karbon – Calgary, Alberta, Canada
- Lauren Weddell, CPA — Shareholder, Schneider Downs & Co., Inc. – Pittsburgh, Pa.
The honorees were recognized at the 2025 Women’s Global Leadership Summit, this year held from Nov. 10-12 in Nashville, Tenn.
AICPA Recognizes Volunteers with Arthur J. Dixon Memorial Award and Jonathan Horn Distinguished Service Award
The AICPA recognized two prominent Tax Division volunteer members during the 2025 AICPA National Tax Conference. Arthur Auerbach, CPA, CGMA, was presented with the Arthur J. Dixon Memorial Award and Cory Perry, CPA, received the Jonathan Horn Distinguished Service Award. Both have generously given their time, adding value and expertise to AICPA Tax Division initiatives that work to strengthen the accounting profession and tax system.
Arthur “Art” Auerbach, CPA, CGMA – 2025 Arthur J. Dixon Memorial Award
Arthur Auerbach, CPA, CGMA, was the recipient of the 2025 Arthur J. Dixon Memorial Award. Art has given 23 years of volunteer service to the AICPA, serving in multiple committee and task force positions in the Tax Division. Most recently, he served as Vice Chair of the AICPA’s Tax Practice and Procedures Committee last committee year and as a member of the State and Local Tax Deduction Pass-Through Entity Tax Task Force. Over the course of his 40-plus year career, Auerbach has managed a tax department, taught intermediate and cost accounting at Pace University and is currently an independent tax consultant in Atlanta, GA. Additionally, he is a nationally recognized lecturer on a variety of tax topics for the continuing education requirement for CPAs. He has also authored articles for trade association periodicals, including the Journal of Accountancy and The Tax Adviser. Mr. Auerbach holds a BBA degree in accounting from Pace University.
The Arthur J. Dixon Award is the highest award given by the accounting profession in the area of tax and given for distinguished service in the area of taxes in recognition for a “career” of contributions and volunteerism. It is given to a CPA who demonstrates true professionalism in the spirit of Arthur J. Dixon. Dixon was a recognized leader in the profession, serving on various state CPA society and AICPA Tax Division committees, with a long record of service to the Tax Division, culminating in his chairmanship of the Tax Executive Committee from 1977–80. Following his passing in 1981, the Tax Executive Committee established the Arthur J. Dixon Memorial Award in his honor.
Cory Perry, CPA – 2025 Jonathan Horn Distinguished Service Award
The 2025 AICPA Tax Division Jonathan Horn Distinguished Service Award was presented to Cory Perry, CPA. Throughout the past committee year, Perry provided input on eight comment letter submissions and six international tax resources, substantially exceeding typical volunteer involvement. He is the chair of the AICPA’s Organisation for Economic Co-operation and Development (OECD) Task Force, has served as the vice chair of the AICPA International Tax Technical Resource Panel (TRP) and advised on a comment letter with the AICPA Exempt Organizations Tax TRP. Perry is a partner in Grant Thornton’s National Tax Office, focusing on international tax and consulting. He has written, spoken and lectured on a variety of tax topics and has published articles in multiple national professional outlets such as The Tax Adviser.
The AICPA Tax Division Jonathan Horn Tax Division Distinguished Service Award is bestowed for outstanding current contribution to the AICPA Tax Division for the past committee year. Recipients have made a substantial contribution over the past committee year to the Tax Division’s work product through notable, extraordinary personal effort, and are awarded this honor by the AICPA Tax Executive Committee. The Tax Division Distinguished Service Award’s name was recently changed to posthumously recognize and thank Jonathan Horn, CPA, a former AICPA Tax Division volunteer, AICPA staff member, and past recipient of this award.
AICPA, State CPA Societies Urge Department of Education to Recognize Accounting Programs as Professional Degree Programs
The AICPA and state CPA societies strongly oppose any proposal that fails to recognize accounting as a professional degree program.
The organizations are calling on the U.S. Department of Education to explicitly include accounting programs in the regulatory definition of “professional degree programs.” While higher education reforms were included in H.R. 1—commonly referred to as the One Big Beautiful Bill Act—the Department of Education only recently released proposed changes that would reclassify professional degree programs. Unfortunately, accounting is not currently listed among those programs.
The definitions of professional degree programs help determine loan eligibility, which can be a critical differentiator for a student striving to complete an accounting degree program and become a CPA.
Becoming a licensed CPA involves meeting specific education requirements, passing the CPA Exam, and completing work experience under the supervision of another CPA. CPAs throughout their careers are bound by the ethical requirements of a code of conduct and must complete ongoing professional education, among other requirements, to remain licensed.
The AICPA and state CPA societies will continue to advocate strongly for accounting to be recognized as a professional degree program.
AICPA Supplies Treasury and IRS with Recommendations on “All or Nothing” Approach to Dual Consolidated Loss
In a letter sent to the Department of the Treasury and the Internal Revenue Service (IRS), the AICPA submitted its recommendations on the “all or nothing” approach to dual consolidated losses (DCL) as requested in Notice 2025-44. This approach means that if even a portion of the DCL is used in a foreign country, the entire loss cannot be deducted in the U.S. The concern of “double dipping” cannot occur if the items of deductions or loss that represent a permanent difference between the U.S. federal income tax law and foreign law are excluded from the DCL calculation.
The AICPA is asking Treasury and the IRS to allow an exception for these permanently disallowed amounts so companies aren’t penalized unnecessarily.
The AICPA recommends Treasury and the IRS issue guidance stating that if the “all or nothing” approach is retained, any expenses that can never be used under foreign tax law should be left out of the U.S. loss calculation. This ensures companies aren’t penalized for deductions that don’t create a risk of double use.
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