AICPA Top 10 Tech
The American Institute of CPAs released its annual Top Technology Initiatives Survey, which ranks the IT issues of most concern to accountants and their clients.
The Top 10 follow, along with the percentage of respondents who felt either confident or highly confident that their client or organization is handling the task appropriately.
1. Securing the IT environment
Security -- in many forms -- was a major component of many of the Top 10 Tech Initiatives. Handling it well: 62%.
2. Managing and retaining data
Data wants to be free -- but you can get sued for that. Handling it well: 61%.
3. Managing risk and compliance
You used to worry that a staffer was breaking the law; now you have to worry about your software, too. Handling it well: 65%.
4. Ensuring privacy
It's not just Facebook and Google whose privacy policies matter. Handling it well: 62%.
5. Leveraging emerging technologies
The pace of change makes keeping up a critical capability. Handling it well: 34%.
6. Managing system implementation
It's the kind of thing you want to get right the first time. Handling it well: 52%.
7. Enabling decision support and managing performance
Data should make decisions easier -- in theory. Handling it well: 46%.
8. Governing and managing IT investment/spending
Metrics and measurements for ROI are slowly emerging. Handling it well: 56%.
9. Preventing and responding to fraud
A perennial concern is getting easier with more sophisticated tools. Handling it well: 60%.
10. Managing vendors and service providers
Gone are the days when your relationship ended with the purchase. Handling it well: 56%.
Short, useful reads for the profession
A slideshow of innovative social media from the accounting profession
Accountants from all walks of life are now on trading cards.
A biennial AICPA survey reveals what’s keeping firms up at night
Eight issues that companies looking to implement mobile accounting should consider.
The most common errors tax pros run across in prior years' returns
A short history lesson about Black Americans who became CPAs after they were told that it wasn't possible.
Beware of some common reporting mistakes of W-2 and 1099 reporting to avoid tax penalties.
Self-created obstacles to growth
With minutes counting down to this year's tax deadline, clients (and many of their accountants) are scrambling to get paperwork wrapped up on time. But many financial and tax professionals caution that in the heat of the moment, even the most knowledgeable can forget the basics – never mind easy-to-miss, specialized strategies.