Gopi Vankayalapati (CPA,CA)

The AICPA Peer Review Program plays a crucial role in maintaining the quality and integrity of CPA firms’ work. Designed to enhance the effectiveness of CPA firms’ accounting and auditing practices, the program ensures firms comply with professional standards. Every three years, CPA firms that perform audits, reviews, or compilations are required to undergo a peer review. This process involves an independent evaluation of the firm’s system of quality control or an engagement review, which focuses on a sample of specific work products. Peer reviews help identify areas for improvement and ensure that firms provide high-quality services to their clients while adhering to AICPA standards and regulatory requirements. Firms that undergo the peer review must address any findings or recommendations to improve practices. This process not only enhances firms’ credibility but also instills greater public trust in the profession. It’s essential for CPA firms to remain prepared for the peer review by maintaining strong quality control systems, documenting engagements properly, and ensuring adherence to ethical guidelines. By doing so, firms can continue to provide reliable services and contribute to the profession's integrity. #AICPA #PeerReview #CPA #AccountingStandards #QualityControl #AuditQuality #Compliance #ProfessionalStandards #AccountingFirms #CPAFirms #AICPARegulations #Auditing #TaxPlanning #CPACompliance

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CPA Exam Score Release Dates for 2025 CPA Exam scores are released on a rolling basis throughout the year. The AICPA shares when you can expect to receive your score after sitting for a section in 2025. This helps you to better plan your testing schedule. https://lnkd.in/gKtbM4-u #tipoftheweek #accounting #accountingstudents #cpa

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#ICYMI 📰The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) are looking to add more paths and flexibility to CPA licensure. ➡️The plan that’s now out for public comment explains that candidates would still need a bachelor’s degree, but could bypass a fifth year of college coursework by taking a “competency-based experience pathway.” From CFO Dive: “The process will take some time. Once the the [sic] public comments are reviewed[,] final language must be approved by the AICPA and NASBA boards and changes will also be proposed to the Uniform Accountancy Act, which is a template for licensure requirements for states, according to the AICPA statement. States will then ultimately need to decide whether to update their licensing requirements.” Read the full article here: https://lnkd.in/eNYSFj2j #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #Audit #Auditing #AICPA #NASBA #Licensure #Plan #Career #Careers #Professionals #Growth #ProfessionalGrowth

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“The AICPA Can Eat a Bag of Dicks,” or Here's What CPA Candidates Are Mad About Today: According to the latest information on the AICPA's “Find out when you'll get your CPA […] The post “The AICPA Can Eat a Bag of Dicks,” or Here's What CPA Candidates Are Mad About Today appeared first on Going Concern. https://bit.ly/4coj3MO

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As it’s become increasingly popular for external CPAs and even CFOs to help run a company’s financial operations, the AICPA is looking to amend the standard for financial statements prepared by an external entity. The change is looking to address the uncertainty, confusion and diversity of practice with respect to the subject, said Michael Glynn, associate director of audit and attest standards and staff liaison for the AICPA’s Accounting & Review Services Committee.  #accounting #externalCFOs #outsourcing https://lnkd.in/epiFcW2i

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𝑨𝒄𝒄𝒐𝒖𝒏𝒕𝒊𝒏𝒈 𝑻𝒓𝒆𝒏𝒅𝒔 𝑻𝒓𝒊𝒗𝒊𝒂 – 𝑪𝒂𝒏 𝒀𝒐𝒖 𝑮𝒆𝒕 𝑰𝒕 𝑹𝒊𝒈𝒉𝒕? As 2024 wraps up, talent shortages remain a major concern for CPA firms. Do you know what’s pushing firms to seek alternative solutions? Question: What significant challenge in 2024 can offshoring help CPA firms overcome? A) Increasing audit complexity B) Talent shortages and high turnover rates C) Changing tax regulations D) Managing client relationships Share your answer in the comments! We’ll reveal the correct answer and explain how offshoring tackles this challenge later in the week. #CPA #TalentShortage #AccountingFirms #Offshoring #CostEfficiency #RemoteWork

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Salary Guides for Accountants Vary Widely: Who Do You Believe?: Recruiters Atrium, LHH and Randstad don’t agree. By CPA Trendlines Research Go PRO for members-only access to more CPA Trendlines Research. http://dlvr.it/TFXhYR #CPA #tax #accounting

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Register now for MOCPA's Virtual Mock CPA Exam, powered by Surgent, happening on next month on May 16, and again on June 27! For many candidates taking the CPA exam can be one of the biggest hurdles when transitioning into the profession. Often aspiring CPAs are not sure if they are truly prepared to sit for each section of the exam. To help provide more transparency into exam-readiness, MOCPA has partnered with Surgent CPA Review to offer CPA exam candidates FREE virtual CPA exam simulation of the exam section of your choice. https://lnkd.in/gyyyed6d

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Salary Guides for Accountants Vary Widely: Who Do You Believe?: Recruiters Atrium, LHH and Randstad don’t agree. By CPA Trendlines Research Go PRO for members-only access to more CPA Trendlines Research. http://dlvr.it/TFXhYz #CPA #tax #accounting

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Interesting news aiming to address the talent pipeline challenges for CPAs. The AICPA and NASBA are proposing a competency-based experience option for CPA licensure. This new pathway could provide more flexibility while maintaining the rigorous standards of the profession. Key points: - Candidates would demonstrate professional and technical competencies - Still requires a bachelor's degree, 1 year of experience, and passing the CPA exam - Aims to address talent pipeline challenges in accounting What do you think about this potential new pathway? How might it impact talent acquisition and development in your firm? #Accounting #CPALicensure #AccountingProfession #ProfessionalDevelopment https://hubs.ly/Q02Qg6RP0

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via cpatrendlines.com: Explaining the Talent Shortage in One Big Chart | Cornerstone: Understanding the Inflection Points in Number of CPA Exam Candidates CPA Trendlines Cornerstone Report Go PRO for members-only access to more CPA Trendlines Research. http://dlvr.it/TFy9Sd #Talent #Management #Staffing

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