NCCPAP’s new President, Frank Sands, CPA, releases his first President’s Message, covering challenges that CPAs are facing and how they will affect the NCCPAP Members’ practices.
In the letter, Frank says, “The Inflation Reduction Act (IRA) and the new Statements on Standards for Tax Services are just a couple of examples of challenges we face. The current hot topic in the accounting profession is Client Advisory Services (CAS). The talk is that this is new, but I am not so sure. It seems to be an expansion of a very old service called ‘write up’. This service was changed with the advent of Clarified Preparation, Compilation and Review Standards. Now we have Advisory Services which are a combination of helping clients with their bookkeeping and providing analytics and other professional advice. In addition, we need to add the new Written Information Security Plan (WISP) to this mix.”