Journal of Accountancy Podcasts

Aaron Beam became a millionaire in the 1980s as a corporate CFO, but his story is a cautionary tale. In this episode of the podcast, Beam discusses his tenure at HealthSouth, the fraud that occurred, and the advice he has for students and leaders to avoid repeating his mistakes.

In her role at the International Federation of Accountants (IFAC), Kristy Illuzzi, CPA, CGMA, works with small and midsize entities, including CPA firms. Her conversations with those organizations around the world have brought to the surface some of the ways in which the Great Resignation is affecting the accounting profession. In this episode, Illuzzi offers advice for organizations on flexibility, technology, and more. Also, catch up on news related to these topics: A PCAOB release on amended standards that apply to audits involving multiple firms. The Supreme Court agreeing to hear a case related to an FBAR penalty dispute. An IRS announcement about the use of voice bots for setting up tax payment plans.

For Anoop Natwar Mehta, CPA, CGMA, the path to becoming chair of the AICPA board of directors might not seem traditional. First, he hasn’t worked for a public accounting firm. Second, he’s been with one company for just about all of his professional life. Mehta joined profession leaders for a discussion at AICPA & CIMA ENGAGE 2022, and this episode is a rebroadcast of that conversation from the Town Hall Series.

AICPA & CIMA ENGAGE 22 emcee Jill Schlesinger, a CBS News business analyst, reviews some of the top moments from the event last week in Las Vegas. Schlesinger had conversations with keynote speakers and CPA profession leaders and has memories and knowledge to share from several of those conversations. Journal of Accountancy content mentioned in this episode: A previous JofA podcast episode with ENGAGE keynote Carla Harris. Coverage of the keynote session with Schlesinger and former Duke University men’s basketball coach Mike Krzyzewski. A survey showing a rise in spending on Sarbanes-Oxley compliance. The IRS announcement about a midyear increase to the standard mileage rate. Small business owners discuss post-Wayfair burdens with the Senate Finance Committee.

Fellow tax podcaster Damien R. Martin, CPA, (Simply Tax) perhaps put it best on Twitter: “No one can rap 1202 like Master Nitti.” Martin was referring, of course, to IRC Sec. 1202, the exclusion for gain from certain small business stock, and one of its foremost interpreters, Tony Nitti, CPA, as Nitti spoke about Sec. 1202 and other selected business tax topics at AICPA & CIMA’s ENGAGE 22 conference in Las Vegas. We were extremely fortunate that Nitti generously shared a bit of his mastery on Sec. 1202, S corporations, and state passthrough entity (PTE) tax elections, in this podcast recorded June 8, a day before his ENGAGE presentation.

Carla Harris is an author, speaker, and executive with Morgan Stanley, and she was one of the keynote speakers at AICPA & CIMA ENGAGE 2022. In this episode, she explains the terms “powerful presence” and “performance currency” and gives advice for those seeking a career shakeup. Also, several news articles are referenced, including the ongoing release of the IRS’s “Dirty Dozen” tax scams: part 1 on abusive CRATs and Maltese IRAs and part 2 on tax refund theft and fake charity appeals. Coverage of those scams continues on journalofaccountancy.com/news. The episode also mentions JofA coverage of a keynote session featuring former Duke University men’s basketball coach Mike Krzyzewski and the release of the PCPS Top Issues Survey.

The AICPA Auditing Standards Board (ASB) voted in May to approve new quality management standards. In this episode, Sara Lord, CPA, the chair of the ASB, explains more about what those standards will mean for firms going forward and what changes they will need to consider.   To learn more, visit the AICPA’s resource page on quality management. The AICPA has also developed a four-part webinar series to guide practitioners on the changes.

On May 24 in New York, the AICPA and CPA.com hosted the inaugural ESG Symposium, bringing together a group of accounting leaders, investors, standard setters, and others to exchange ideas and perspectives on environmental, social, and governance (ESG) issues. One presenter and a leader in the ESG field is Ami Beers, CPA, CGMA, senior director–Assurance and Advisory Innovation at the AICPA. In the episode, Beers explains the reasons for increased focus on ESG, what she took away from the symposium, and what’s coming next. She mentions several resources that can be found online. One good place to start is the AICPA’s ESG-focused resource page.

J’Maine Chubb, CPA, CGMA, studied avionics in high school and also took an interest in a law career. He followed a familial career path, however, becoming an accountant, and he discusses some of that journey in this episode of the Journal of Accountancy podcast. Chubb, now the CFO at TravelWifi, was previously CFO of the Houston Airport System, where he worked for almost six years. Read more about Chubb in the JofA’s Last Word feature from the May issue.

About three years ago on the Journal of Accountancy podcast, Lindsay Stevenson, CPA, CGMA, spoke about how to get over fearful moments in our careers. That topic is revisited in this episode, a follow-up conversation with Stevenson, now the chair of the AICPA Women’s Initiatives Executive Committee. Stevenson talks about CPAs and their comfort zones and discusses some of the key points in her career journey. Also, get a summary of recent Journal of Accountancy coverage of a report on the IRS’s calculation of recovery rebate credit eligibility.

Amy Radin, the author of The Change Maker’s Playbook: How to Seek, Seed and Scale Innovation in Any Company, serves on the board of directors for the Association of International Certified Professional Accountants. She wrote for FM magazine on how CFOs can enable innovation in late 2020. And, in early 2021, Radin was a guest on the FM podcast to discuss establishing innovation metrics. Innovation and metrics are the topic for this episode, in which Radin talks about how innovation principles can play a role in an organization’s financial planning and analysis (FP&A) functions. In two weeks at AICPA & CIMA ENGAGE 22, Radin is co-presenting with Tom Hood, CPA/CITP, CGMA, executive vice president–Business Engagement and Growth for the Association of International Certified Professional Accountants.

Burnout at work was a concern even before the COVID-19 pandemic quickly left so many people isolated. The components of burnout are heightened now, according to author Britt Andreatta, Ph.D., in a December interview. In this episode of the Journal of Accountancy podcast, you can hear more about burnout and how it can affect overall mental health. Stefan van Duyvendijk, Accounting Operations Evangelist with FloQast, shares data about burnout among accountants, explains why some of us struggle to see the signs of burnout, and offers advice for managers.

How soon is too soon to have a debrief after busy season? And what should be the goal of such a debrief? Those topics are addressed in a special crossover episode with the AICPA Town Hall series. Hear three CPAs discuss the topic, how it’s applicable to more than tax season, and how firm leaders of different sizes approach the debrief. The full Town Hall episode is here, and the speakers in this segment are: Lisa Simpson, CPA, CGMA, vice president–Firm Services at the Association of International Certified Professional Accountants; Brandon Lagarde, CPA, director of the Tax Services Group at Postlethwaite & Netterville; and Brent Forbush, CPA, CGMA, managing partner of Forbush & Associates. The conversation is a follow-up to an article Lagarde and Forbush co-authored in early 2020 in The Tax Adviser. Also, learn about the IRS response to a TIGTA report that noted the IRS destroyed millions of unprocessed information returns.

This episode of the podcast focuses on a busy week in news and a story of finance transformation in action. Janis Parthun, CPA, and Steve McKechnie, leaders in RGP’s finance transformation practice, explain how a recent client engagement led to efficiencies for the client, a global food and beverage company, and lessons learned for RGP. Also, here are links to Journal of Accountancy articles mentioned in the news roundup: S. sanctions that include a ban on providing accounting and management consulting services to Russia. A TIGTA report on e-filing and the IRS. Puerto Rico residents get guidance on claiming the child tax credit. TQAs provide guidance on auditor reporting.

Because of their training and experience, CPAs are rightly considered the foremost providers of tax services to taxpayers. Some CPAs also serve the taxpaying public at large — with appreciation for Congress’s task to enact equitable tax laws and the IRS’s job to diligently and fairly administer them — by recommending improvements to both. They can do so in many ways, but in this episode, we’ll explore two paths: the AICPA’s volunteer tax committees and a council directly advising the IRS’s top leadership — from the experience of a longtime trailblazer, Jeff Porter, CPA.

Donny Shimamoto, CPA/CITP, CGMA, is one of two accounting firm leaders presenting at AICPA & CIMA ENGAGE on where to begin when it comes to starting a technology-focused advisory practice. Client advisory services (CAS) are a growing opportunity for firms, so the presentation by Shimamoto and Liz Mason, CPA, is timely. In this episode, Shimamoto takes a look back — at how firms and CPAs in general worked to integrate technology — and a look ahead — to what advisory services could look like in the future.

May is Mental Health Awareness Month, and it’s the focus of this episode of the Journal of Accountancy podcast. Kari Hipsak, CPA, CGMA, senior manager–Firm Services at the AICPA, explains why mental health matters to her and shares advice for how managers and organizations can better promote mental health of their staff. Several resources are mentioned in the episode: Hipsak’s interview about mental health on the What’s Your “And”? PCPS mental health resources. A recent Journal of Accountancy article on companies expecting to increase pay for employees.

Sean Stein Smith, CPA, CGMA, DBA, is speaking June 7 at AICPA & CIMA ENGAGE on the blockchain ecosystem. Nonfungible tokens (NFTs) are a part of that ecosystem. In this podcast episode, Stein Smith explains what NFTs are and aren’t, how baseball cards or other physical items can be “tokenized,” and more. Also, get an update on two recent IRS items, related to estate and gift tax proposed changes and the public input sought on prioritization of tax issues. Resources Here are three recent JofA articles about NFTs: NFTs Come With Big Valuation Challenges Tax Consequences of NFTs How NFTs Work and Where They Get Their Value

Sandi Matthews, CPA, CGMA, was ready for a new adventure when she was hired in 2018 as an accounting manager for not-for-profit Khan Academy. It was not just a new job she accepted — it was a role in a faraway location. Matthews helped to establish Khan Academy’s subsidiary in India in its early days. She’s now head of finance, and in this podcast episode, Matthews discusses the barriers she faced moving from North Carolina to New Delhi, advice for others considering an international assignment, and why she recommends visiting a new country as a resident instead of as a tourist.

Denise Dettingmeijer, CFO of Randstad North America, is part of a panel discussion at AICPA & CIMA ENGAGE in June in Las Vegas. In this podcast episode, she previews the theme of that session and explains why having fellow CFOs “along the same part of the journey” is helpful. Dettingmeijer also shares advice on how professionals can get the most out of attending a conference. Also, here are links to other JofA coverage mentioned in the episode: Paul Bonner’s coverage of progress reported in Treasury’s equity action plan. Brannon Poe, CPA, on why converting to the cloud has advantages related to a firm’s exit strategy.