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Barry Melancon, CPA, CGMAPresident & CEO, American Institute of CPAs CEO, Association of International Certified Professional AccountantsSpring Council 2018?o.?v,evThe World Is Ab,outto,changeEven FasterHa\ ·-ug trmibk k eping up? T,hacccle.rali.t\g.pace f innova1 on and disruption is9799966964880&,'.krtR/UJ!ill.Mi-'6,2017,12:08PMEDT--------\\Iii-l!Y'lhll-'liil/llDll?n! !i?! -/,,lll Wl!'f ISsofi!l"llllOfl'IU.W. Jip ?IL1s !l)lgl!Ql8"'10lt;lt>elt>ead?Wli:l!Cbr\lllllllll b";llcl'rdlJCIYIS2,500,000,000,000,000,000bytes of data are created every day.Source: DOMOSince 200041%S&P 500CONSUMER-CENTRIC COMPANIEShave been acquired orgone out of businessSource: Accenture, 201839%TOP ACCOUNTING FIRMSSource: AICPAMajor Firm Group member firms from 2000 no longer exist as standalone firmsTop 10 decliningroles by 2022Source: World Economic Forum Future of Jobs, 2018Data entry clerksAccounting, bookkeeping and payroll clerksAdministrative and executive secretariesAssembly and factory workersClient information and customer service workersBusiness services and administration managersAccountants and auditorsMaterial-recording and stock-keeping clerksGeneral and operations managersPostal service clerksTAKE A STEP.TECHNOLOGYMaster it before it masters you.TRUSTBuild on your expertise.TALENTThink broader.7Gartner Hype CycleEXPECTATIONSDigital Twin Biochips Smart Workspace Brain-Computer Interface Autonomous Mobile RobotsSmart RobotsAI PaaS Deep Neural Network ASICs Quantum Computing5G Volumetric Displays Self-Healing System TechnologyConversational AI Platform Autonomous Driving Level 5Edge AI Blockchain for Data SecurityNeuromorphic HardwareHuman Augmentation Knowledge Graphs4D Printing Artificial General IntelligenceDeep learningCarbon Nanotube IoT Platform Virtual Assistants Silicon Anode Batteries BlockchainConnected Home Autonomous Driving Level 4 Mixed RealityAugmented RealityInnovation TriggerSource: Gartner, 2018Peak of Inflated ExpectationsTrough of DisillusionmentSlope of EnlightenmentPlateau of ProductivityTIMEMegatrends for the profession, 2018EXPECTATIONSVirtual AssistantsMachine LearningCognitive Expert Advisors (AI) Blockchain Big Dataand Analytics*Software as a Service*Innovation TriggerPeak of Inflated ExpectationsTrough of DisillusionmentSlope of EnlightenmentPlateau of ProductivityTIMESource: hype curve from Gartner and other sourcesCloud(SaaS)BlockchainBig data and analyticsClient Accounting ServicesVirtual CFOData analytics guide Virtual CFO solutionsDigital CPAArtificial intelligence(machine learning, virtual assistants)Dynamic Audit SolutionThought leadershipWall Street Blockchain AllianceThought leadership Cryptocurrency SOC1 and SOC2StepsAICPA resources to help:Learn fundamentals.Become an expert.Free learning:Facebook LivesBlogsPodcastsWatchlistConferences and webcastsCertificate programsLearning labsApply to practice.GuidanceFrameworksChecklistsToolkitsTRUSTTRUSTACCOUNTING AND AUDITDon’t forget the basicsEnhancing audit qualityStandardsRevenue recognition, leases, credit lossesOptimize processes and insights with technologyAudit data analyticsRIVIO ClearinghouseOnPoint Preparation, Compilation & Review toolDynamic Audit SolutionExplore one adjacent opportunityExpansion of SOC reportingCybersecurity risk managementIntegrated reporting and EAQInvestors:81%confidence in publiccompany auditors80%confidence in independentaudit committeesSource: Center for Audit Quality Main Street Investor Survey, 2018TRUSTACCOUNTING AND AUDITOnPoint PCR main featuresGuided engagementsIntegrateddataCloud platformIntelligent checklists Interactive methodologyAutomated financialstatementsData visualizationReal-time collaboration SecurityTRUSTACCOUNTING AND AUDITInnovating the auditTechnologyMethodologyStandardsNew skillsTRUSTACCOUNTING AND AUDITNext phase: Dynamic Audit SolutionOctober 2018Kickoff MVPRelease 1Release 2OngoingEstateRetirementEducationRisk managementInvestmentTaxTRUSTPLANNING AND TAX ADVISORY SERVICESProvide strategic guidanceTax Reform Resource CenterQuick reference guide and FAQs199A Flowchart and Tax Reform ChatbotImpact of Tax Reform on Planning ToolkitMaximize your time and value with technologyIntegrated financial planning and tax prep platformsClient dashboarding for holistic viewIntegration financial aggregator toolsLife planning scenario forecasting Meet broader planning needsRoadmap to Planning and Tax Advisory ServicesPlanning and Tax Advisory Services web taxreform | growadvisoryservicesTRUSTPRACTICE MANAGEMENTUnderstand the environmentMAP surveyNetworking groupsNew Small Firm Philosophy podcast seriesPCPS Succession Planning Resource CenterStand outFinancial Reporting Framework for Small-and Medium-Sized EntitiesNew finance thinking for clients Re-align strategy for the futureCGMA Business Model FrameworkPCPS Firm inMotion pcps | smallfirmsSmall Firm Philosophy podcast seriesTopics:Strong firm culture Virtual firmsNiche services Succession planning and more…TRUSTM&A ACTIVITY CONTINUES TO RISE120mergers and acquisitions in largest US firms in 201814% YoY35%of firms acquired non-CPA firms56% YoYAs of October 12, 2018. % increase is as of same period in 2017.TRUSTCYBERSECURITYProtect yourselfCybersecurity Risk Management Reporting FrameworkNew 2018 CPA Cybersecurity ChecklistBuild your knowledgeFree learning: Facebook Live, blogs, podcastsWebcasts and conferencesCertificate programs Expand your services and promote your valuePCPS Exploring Cybersecurity ToolkitReporting on an Entity’s Cybersecurity Risk Management Program and ControlsCGMA Cybersecurity Risk Management ToolNew Resources for firms to talk to your cybersecurityIT leaders:82%predict unsecured IoT deviceswill cause a breach in theirorganization80%say such a breach would becatastrophicSource: Ponemon Institute, 201899913431807698043671186865TRUSTMANAGEMENT ACCOUNTINGUnderstand the changing landscape and impactFuture of Finance research– 4 thought leadership papersImproving government performance80436711470639991343147063Move from cost center to value driverConnecting value generation for the long-termBusiness model conceptsBuild trust in businessManaging the Trust P&L: A toolkit for boardsImplementing sustainability development goalsIntegrated TALENTGrowing skills demandBy 2022, everyone will need an extra101 DAYS OF LEARNINGSource: World Economic Forum Future of Jobs, 2018Analytical thinking and innovationActive learning and learning strategiesCreativity, originality and initiativeTechnology design and programmingCritical thinking and analysisComplex problem-solvingLeadership and social influenceEmotional intelligenceReasoning, problem-solving and ideationSystems analysis and evaluationLearn.Technical skillsBusiness skillsUnlearn.Digital skills and mindsetRelearn.Leadership skillsPeople skillsEthics, integrity and professionalismTALENTHuman Intelligence seriesmillion+video views since October 2017Go beyond disruption+ series379,000+video views since July 201810,500podcast downloads since June disruptionTALENTMAKE THE MOST OF YOUR PEOPLEEmbrace diversity and inclusionCEO Action for DiversityRecruitment and Retention toolkitD&I Communications toolkitWomen’s Global Leadership SummitMentor … and be mentoredOnline mentoring diversityTALENTCPA PIPELINEAttractionHonors programDual Student Recruitment programCPA Academic Champions pilot programFirm CPA Culture ToolkitInfluenceNew Accounting Accreditation Practitioner Engagement Program– Prepares CPAs to serve in a consultative role on accreditation peer review teamsUniform CPA ExamAccountingand Financerated top 10 college degrees with best job prospectsSource: CareerCastTALENTTALENT INCLUSION STRATEGY: MAINTAINING A CPA CULTURE Top 100 CPA firms300K262K7yr CAGR: 10.4%Other client service professionals76KCPAs7yr CAGR: 4.9%# of Professionals and Partners250K200K150K100K50K0K20112012201320142015201620172018Source: Accounting Today Top 100 Accounting Firm Survey 2018; AICPACAGR=Compound Annual Growth RateF O R G I N G T H EPAT HFORGING THE PATHREPUTATION & AWARENESS OF CPA5.5 billionreached worldwide throughmedia outreach41 millionbusiness owners exposed toCPAs through CPApowered1.2 millionconsumers reached throughfinancial literacy effortsFORGING THE PATHADVOCACYTaxSection 199AMeals and entertainmentIRS serviceTax technicals / Extenders / Reform 2.0IRS transcript process changesDisaster reliefFairnessCertaintyConsistencyFORGING THE PATHCOMPREHENSIVE DEFINITIONOF ATTESTWAMTNDORIDSDWYNENVUTCACODCKSMNWINYMIIAPAILINOHWVMOVAKYNCTNMENHMARIVTCTDENJMDAZNMOKARSCMSALGAGUCNMITXLAPRHIFLUSVICurrently have Active legislation Do not haveFORGING THE PATHSTATES WITH FIRM MOBILITYWAMTNDORIDSDWYNENVUTCACOKSMNWINYMIIAPAILINOHWVMOVAKYNCTNMENHMARIVTCTDENJMDDCAZNMOKARSCMSALGAGUCNMITXLAPRHIFLUSVICurrently have Active legislation Do not haveOUR ORGANIZATIONTRANSFORMINGValue Growth Innovation Capabilities RelevancyReimagining how, where and what services we provide to support the profession and members – today and tomorrow.FORGING THE PATHENHANCING MEMBER EXPERIENCE1908048389989More intuitive, personalized web siteFacebook Messenger chatbot728513323597718695943154543Alexa flash briefing00GO BEYOND ................
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