Denise LeDuc Froemming , CPA , CAE , MBA President & CEO | CalCPA

CPAs are essential players in the business world . They uphold financial integrity , ensure compliance and play a key role in advising clients and organizations on fiscal matters . Yet , you might not realize that one aspect of the profession that is essential is the impact CPAs can have through advocacy . When CPAs engage in the legislative and regulatory process , they don ’ t just serve their own interests — they help shape a fair and effective regulatory environment for all stakeholders in the economy . How ? Consider the following :

Influencing Regulatory and Legislative Decisions The financial landscape is shaped by rules , regulations and policies crafted at local , state and federal levels impact CPAs directly . By being involved , CPAs can influence these regulations — bringing their expertise and experience — and ensure that new laws are practical , achievable and serve the public interest . Think of it as CPAs serving as a bridge between policy and practice .

Promoting the Value and Integrity of the CPA Profession CPAs work in a highly regulated industry and must adhere to rigorous standards that protect clients and the public . However , if these standards are threatened by new policies , it could impact the perception of the profession and its ability to deliver trusted services . Through their involvement , CPAs showcase the vital role they play in society when it comes to contributing to transparent , ethical financial practices across all sectors .

Protecting the Interests of Clients and the Public CPAs don ’ t just advocate for their profession — they also

represent the interests of their clients , organizations and the public . Policies that impact financial reporting , tax law or business compliance directly affect companies and individuals . CPAs often have the most up-to-date understanding of the financial challenges facing businesses and individuals , making their insights especially valuable to policymakers .

Adapting to a Rapidly Changing Environment The financial world is in a constant state of flux , driven by technological advances , shifts in the economy and evolving standards . CPAs are on the front lines of these changes , helping clients navigate new regulations , cybersecurity risks and sustainability reporting requirements . By participating in the creation of new standards , CPAs can guide the profession toward the future and advocate for policies that allow businesses to adopt new technologies without regulatory barriers .

Creating a Stronger Professional Community When CPAs come together to advocate for the profession , they create a more unified and robust community . And this is one area where you can immediately jump in . You can learn more about our advocacy efforts and resources , including supporting CPA-PAC and grassroots activities , at calcpa . org / advocacy .

Then be sure to sign up for our Legislative Summit & CPA Day , which will be held Feb . 5 in Sacramento to connect with lawmakers , discuss issues and advocate for policies that benefit both the profession and the public . You can register today by heading over to calcpa . org and entering search term , “ CPA Day at the Capitol . We ’ ll see you there ! www . calcpa . org DECEMBER 2024 CALIFORNIA CPA 3