AICPA News is a roundup of recent announcements from the American Institute of CPAs.
Rising Risk Complexity Outpaces Organizations’ Strategic Readiness Finds New AICPA & North Carolina State University Study
Organizations are facing a more volatile, interconnected, and unpredictable risk environment than ever before, yet most continue to struggle to fully integrate risk management into strategic decision-making, according to the latest The 2026 State of Risk Oversight: An Overview of Enterprise Risk Management Practices report released today by the American Institute of CPAs (AICPA) and the Enterprise Risk Management (ERM) Initiative at NC State University.
In its 17th year, the study surveyed 331 senior executives and board-level leaders and found that 69% believe the volume and complexity of risks facing their organizations have increased significantly over the past five years. At the same time, only 11% say their organization’s risk management process provides a unique strategic or competitive advantage.
The findings point to a growing disconnect between rising risk levels and organizations’ ability to transform risk intelligence into better business decisions. While many organizations have expanded governance structures and oversight practices, risk management remains focused largely on operational and compliance concerns rather than emerging strategic threats, according to the report.
Among the report’s key findings:
- 69% of executives say the volume and complexity of risks have increased over the past five years.
- 74% report experiencing a significant operational surprise within the last five years.
- 72% say geopolitical uncertainty is affecting their organization’s business model or strategic initiatives.
- Only 30% describe their organization’s risk oversight processes as mature or robust.
- Just 29% have formally articulated risk appetite in the context of strategic planning.
- Only 22% say their risk management processes explicitly engage leadership in thinking about risks five to ten years into the future.
The report also highlights increasing expectations from boards, audit committees, regulators, and other stakeholders for greater executive engagement in risk oversight. More organizations are appointing chief risk officers, establishing management-level risk committees, and formalizing board oversight responsibilities. However, many organizations still rely on informal discussions rather than robust, data-driven risk reporting to support strategic decision-making.
The study suggests that while organizations have made steady progress over the past 17 years in developing governance structures and risk management processes, significant opportunities remain to enhance risk maturity, improve communication of risk information, and better leverage risk insights to guide strategic decision-making.
AICPA, Former IRS Commissioner Danny Werfel Launch Council on AI Tax Risk to Advance Responsible AI in Tax
The American Institute of CPAs (AICPA) and former IRS Commissioner Danny Werfel have partnered together to lead a new initiative bringing together leaders from accounting, law, technology, government and academia to advance practical approaches to the responsible use of artificial intelligence in tax administration and tax practice. Participating organizations include the National Association of Enrolled Agents (NAEA), Federation of Tax Administrators (FTA) and several others.
Participating individuals and organizations in the Council on AI Risk in Tax (CART) recognize that AI is rapidly transforming how tax compliance, administration and advisory services are impacted with the emergence of new tools. As adoption accelerates, questions related to information integrity, accountability and risk management are at the forefront of the conversation.
CART was established to:
- Test, refine and strengthen an AI risk framework for tax to ensure it remains practical, relevant and responsive to evolving AI capabilities, industry practices and regulatory expectations.
- Identify additional tools, guidance and other resources that can help organizations manage AI-related risks and promote responsible innovation.
- Create a forum for collaboration and shared learning where stakeholders can exchange lessons learned, emerging practices and practical approaches to responsible AI use in tax.
The Council on AI Risk in Tax will continue to meet throughout the year to discuss emerging AI risks and identify opportunities to strengthen risk management practices across the tax landscape. CART seeks to refine the existing risk framework, develop guidance, tools and resources, and establish best practices to help organizations responsibly adopt AI technologies.
AICPA Requests Modifications to Interim CAMT Guidance Application for Financially Troubled Companies
In a letter submitted to the Department of Treasury and the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) recommended improvements to the Corporate Alternative Minimum Tax (CAMT) guidance for financially troubled companies, specifically Notices 2025-46 and 2026-07. These notices address the application of the CAMT to domestic corporate transactions, troubled companies and tax consolidated groups.
The letter’s specific recommendations include:
I. Treatment of cancellation of debt income (CODI)
- Refine the order of the CAMT CODI attribute reduction rule.
- Refine the liability floor limitation.
- Refine the catch-all CAMT basis reduction rule.
- Clarify the coordination between the CAMT attribute reduction with subsequent adjusted financial statement remeasurements.
- Provide a true-up mechanism to address applicable financial statement (AFS) and Tax CODI timing differences.
II. Insolvency Exclusion
- Refine and clarify the insolvency exclusion rules.
III. Bankruptcy Exclusion
- Align the “debtor” rule with section 108(d)(2).
- Clarify eligibility for the bankruptcy exclusion.
- Exclude from applicable financial statement income (AFSI) one-time AFS deconsolidation effects.
IV. Emergence from Bankruptcy
- Clarify the AFSI consequences resulting from fresh start accounting.
- Treat emergence from bankruptcy as a qualifying ownership change.
AICPA & CIMA’s CGMA Finance Leadership Program Earns Gold Brandon Hall Excellence Award for Advancing Finance Professional Development
AICPA & CIMA, together as the Association of International Certified Professional Accountants, has received a Brandon Hall Group™ Gold HCM Excellence Award® in the category of Best Association Professional Development Program for its CGMA Finance Leadership Program (FLP).
The recognition highlights organizations that deliver innovative learning solutions and measurable outcomes that advance professional development and workforce readiness.
The CGMA Finance Leadership Program is AICPA & CIMA’s digital-first pathway to the CGMA designation, combining guided learning, real-world business application, and integrated assessments to help finance professionals build the skills needed to succeed in an increasingly complex business environment. Since its launch in 2017, the program has supported more than 25,000 learners around the world in pursuing the CGMA designation, the global management accounting credential held by more than 140,000 finance professionals worldwide.
More than a recognition of program excellence, the award reflects the growing demand for flexible, technology-enabled learning experiences that help professionals develop the technical, strategic, and leadership capabilities required in today’s rapidly evolving finance profession.
AICPA & CIMA partnered with Studion, a technology services firm specializing in the design and development of high-engagement digital learning experiences, to create and continuously enhance the FLP learning platform.
The award underscores the ongoing efforts of AICPA & CIMA’s learning, assessment, and product development teams, whose work continues to evolve the program to meet the changing needs of finance professionals worldwide.
CPA.com Announces Keynote Speakers for 2026 Digital CPA Conference December 6-9, 2026
Artificial intelligence and emerging technologies are accelerating change across the accounting profession, creating new opportunities for firms to rethink how they operate and deliver value. Celebrating its 15th anniversary in 2026, the Digital CPA (DCPA) Conference® will bring together progressive practitioners, technology innovators and accounting firm leaders to explore the strategies, technologies and capabilities positioning their firms for long-term success.
DCPA26, hosted by CPA.com and the American Institute of CPAs (AICPA), will take place Dec. 6-9 at the Gaylord Pacific Resort & Convention Center in San Diego and live online.
This year’s theme, “Vision to Velocity,” reflects the shift from envisioning transformation to putting it into practice. By bringing together the right strategies, technology and talent, firms can turn ideas into action, accelerate progress, and create lasting value for their clients.
The three-day program will feature more than 40 sessions across audit and assurance, client advisory services (CAS) and business, and an expanded tax track, with more than 60 speakers sharing practical insights firms can apply across their businesses. Attendees will also have opportunities to connect at the resource center, engage with peers through networking events, receptions and roundtable discussions, and meet with more than 60 leading technology companies across tax, audit, CAS and practice management.
Featured keynote speakers will examine the forces transforming the profession and how leaders can build the capabilities needed to thrive amid rapid change. They include:
Barry Melancon, chairman at Baker Tilly International, and Nitin Mittal, head of Global AI at Deloitte, will explore how firms can harness data and AI-powered transformation to drive competitive advantage, make more proactive strategic decisions and create new value for clients.
Erik Brynjolfsson, senior fellow at the Stanford University Institute for Human-Centered Artificial Intelligence and director of the Stanford Digital Economy Lab, will examine how AI is reshaping the future of work and why reorganizing work around human and AI capabilities can unlock greater productivity and opportunity.
Rachel Wilson, head of Wealth Management Data Security and Infrastructure Risk at Morgan Stanley, will explore the evolving cyberthreat landscape and how businesses can protect themselves against increasingly sophisticated attacks.
Erik Asgeirsson, president and CEO of CPA.com, and leading practice innovators will explore how firms are accelerating transformation, advancing innovation and building AI-enabled capabilities across CAS, audit and tax to drive long-term growth and success.
For more information about DCPA26, including the full speaker lineup and access to on-demand sessions, visit www.digitalcpa.com.
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