Digital Financial Reporting

Seems like the AICPA and the NASBA are evolving the CPA and instituting new licensing model for CPAs beginning in 2024.  Seems like they are trying take a strategy of adapting and evolving the CPA rather than disrupting it.

This begs a lot of questions.  Will this change be enough?  Is this a knee-jerk reaction?  Why would it be the case that getting feedback from 3,000 current stakeholders be the right path?

I recommend the book The Great Upheaval. While that book focuses changes within higher education, the fundamental change impacting all of us is the same: the rapid shift from an analog industrial economy to a digital knowledge economy. 

Folks, this is be biggest change in accounting, reporting, auditing, and analysis in 500 years!

No one knows exactly what will happen, not even myself.  No one can predict the future perfectly.  My personal prediction is pretty much summarized in Computational Professional Services.

My advice to you would be to take in as much information as possible and be very careful who you listen to.  We are truly in the midst of a great upheaval.  While there are many threats, there are also many opportunities.