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news & trends
“ Our profession encourages a proactive and dynamic approach to problem-solving and progress , constantly evolves and changes to meet client needs and is at the forefront of issues and innovation to drive trust , opportunity and prosperity .”
AICPA Chair Carla McCall , CPA , CGMA
Future-Ready CPA Firm
A recent survey of CPA firms shows many are committed to investing in tech tools . Among the findings :
77 % said their financial outlay will increase either significantly or slightly over the next two years .
21 % said investment in engagement software ( audit , review and compilation , tax etc .) is key .
24 % indicated they plan to adopt some form of cloud technology within the next 13- 24 months .
16 % said they are using Generative AI extensively .
– Caseware the numbers
75 %
The number of midmarket companies planning to invest in AI over the next five years .
– Wipfli
20K
The weekly number of new applications received by the IRS for employee retention credits .
– IRS
34 %
The number of CEOs who envision an environment where corporate employees work full-time in the office .
– KPMG
$ 240
The per-hour amount people think their time is worth .
– Empower
53 %
The number of CFOs who have adopted or are adopting ESG principles .
– BDO
$ 500
The amount a year Americans spend on “ guilt tipping ”— tipping more than they ’ d like to .
– Talker Research
4 CALIFORNIA CPA JULY 2024 www . calcpa . org