There is one part of the M&A equation that is important to note: succession is not unique to one side of the table. Buyers, too, have succession issues that impact their approach to M&A. Here are four general succession concerns that often guide buyer-side decisions.

What are ethics? Dictionaries say ethics are a system of beliefs that control behavior, particularly a system based on morals. The AICPA has a code of professional conduct, and it states that members are obligated to act in a way that will serve the public interest, honor the public trust, and demonstrate a commitment to professionalism. As CPAs, this is our system of beliefs.

You finally earned a promotion to manager. But after the congratulations from colleagues and new business cards, it’s up to you to maximize this new role and grow into an impactful leader and respected colleague.

I left public accounting several years ago for a position in industry. That’s not unusual. What may be unique, however, is moving back to the public side.

Public accounting can be a rewarding, albeit challenging, road. It is natural that some will eventually weigh the difficult decision to leave for some other professional path. If you are considering leaving public accounting, there is a way to approach this transition that can yield benefits far beyond the job skills gained along the way.

A life in public accounting offers so many professional paths to follow and so many brilliant resources to tap into. However, when you are in the thick of it, expectations can be difficult to juggle and public accounting becomes difficult to navigate.

Today’s business environment is characterized by globalization, technological advances, and a workforce that is aging while simultaneously becoming increasingly diverse among its new entrants. The accounting profession is subject to these same forces. With a looming talent shortage as the baby boomer generation continues to retire in large numbers, attracting and retaining professionals capable of operating in a complex business environment should be a top priority for all CPAs in leadership positions, whether in public accounting or in industry.

The tax profession faces many challenges in the current regulatory, compliance, and technology environments. Simultaneously, there are increasing internal firm pressures on tax professionals to operate more efficiently and effectively and to contribute more to bottom-line growth. All these elements are changing the roles of tax professionals, whether they are seasoned or in the beginning phases of their careers.

The CPA Evolution Project, formed as a working group by the AICPA and the National Association of State Boards of Accountancy (NASBA) in 2018, aims to transform the CPA licensure model. Driven largely by advancements in technology and data analytics, the group is exploring changes in licensure requirements that will better ensure future CPAs possess the skills and competencies required in accounting practice and business. The CPA Evolution Project’s approach to licensure not only strives to embrace marketplace changes but also to maintain the profession’s mandate to protect the public interest.

In this issue: Pa. Local Government Emergency Bill Includes EITC Extension; PICPA Advocacy Moves Beyond Day on the Hill; Pennsylvania COVID-19 Update: Tax Filing Relief; and more.

In this issue: Pennsylvania IFO Projects Revenue Impact of COVID-19; Committee Approves PICPA-Supported Philadelphia Tax Measure; Local Government Relief Measure Approved by Pa. Senate; and more.

In this issue: PICPA, Pa. DOR Working Together in Face of COVID-19; Proposals to Address Federal and Pennsylvania Relief Legislation; Pa. Lawmakers Angry Over Veto of Petrochemical Tax Bill; and more.

In this issue: Legislation Extends Pennsylvania Tax Due Dates; PICPA to Host Discussion with Pa. Revenue Secretary Hassell; Financial Assistance Announced for Pa. Small Businesses; and more.

In this issue: Gov. Wolf Orders Closure of Non-Life-Sustaining Business; Pennsylvania Funding Approval to Help Small Businesses; Pa. General Assembly Convenes Under Unique Circumstances; and more.

In this issue: Gov. Wolf Highlights Pennsylvanians' Access to Care During Outbreak; Auto-IRA Proposal Introduced in Pa. House; PICPA Member Rep. Ryan Named to PSERS Committee; and more.

In this issue: Pennsylvania Bill Proposes to Close the Delaware Loophole; PICPA Volunteers Requested for Student Loan Working Group; PICPA Urges Support for Fiscal State of the Nation Resolution; and more.

Technology continues to have a profound impact on all aspects of everyday life, from home to business. The CPA profession is not exempt. Over the past 18 months, the AICPA and the National Association of State Boards of Accountancy have been discussing a new CPA licensure model designed to future-proof the profession. The model is a combination of core subject requirements with a targeted discipline in a specific area of the profession.

About 42 million borrowers owe $1.4 trillion in federal student loans under the William D. Ford Direct Loan program. Many of these borrowers have opted to participate in income-driven repayment plans because they provide the lowest initial monthly payment and forgive any balance due at the end of the repayment period. However, the short-term benefits of IDR plans can produce long-term burdens.

A paradigm shift in the economy, society, and politics is arising from the current explosion of technological change. The World Economic Forum calls it the Fourth Industrial Revolution, and as a result people are living longer. We may not be prepared for what that entails financially: with longer lives comes greater expenses, and greater expenses by more and more people will put a great deal of pressure on individual savings as well as government-related health and social programs. This feature addresses longevity risk and what CPAs can do in a new world of retirement planning.

Pennsylvania residents of an age commonly known as “baby boomers” are retiring and relocating to warmer and more tax-temperate climates, such as Florida. The Pennsylvania Department of Revenue is aware of this trend, and it is guarding the commonwealth’s coffers by challenging nonresidency status and certain retirement payouts. Simply put: If your client retires and moves, they will have to prove their new status.