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• W753372587 abstract "[ILLUSTRATION OMITTED] Technology continues to transform the accounting profession. Cloud computing and mobile devices have untethered CPAs from their desks and desktops, allowing them to do work and access data on a virtually anytime, anywhere basis. Technology continues to break down geographic and market barriers, creating unprecedented opportunities for CPA firms and for CPAs in business and industry. The internet also brings danger. Security breaches such as those at Target and Nieman Marcus show how cybercriminals are ready to exploit weaknesses to gain access to confidential financial information (see Timeline: Target, Neiman Marcus Disclosures, by Brian Acohido, USA Today, Feb. 6, 2014, available at tinyurl.com/ n7djz4o). CPAs leveraging the web for their business efforts need to be aware of the security concerns and protect themselves and their clients' and companies' data. To help CPAs navigate the technological seas, the JofA gathered three of the top experts in accounting technology for a round-table discussion of the most crucial tech issues facing the profession. Participating in the discussion were David Cieslak, J. Carlton Collins, and Rick Richardson. An edited transcript of the conversation follows. Which technology trends will most affect the accounting profession and individual CPAs during the rest of 2014? Cicslak Cloud computing is changing the computing paradigm, and I think it has reached the tipping point in terms of folks saying, know what, I think I'm going to start looking to move certain services and things we do to the I think we're going to see a continuation of that and maybe even an acceleration around that movement. Collins: In my opinion, the technology is all about maximizing productivity for CPAs. We want to get our job done better and faster. Moving forward, I think it will continue to be essential to provide employees with the best computers, the best handheld devices, faster internet, and proper training in these three areas. Further, I think that securing mission-critical data will continue to be a key. And although this is not new, I believe CPAs should make it a priority to leverage the internet by updating their websites with more useful content and engaging videos. I think that most CPAs consider their website to be kind of a fancy brochure, but that's the wrong way to look at it. A website for any company or CPA firm should be a reservoir of how-to information to help clients and customers. Richardson: While people keep talking about the tax side of our business, I really think it's the accounting solutions that are going to get the biggest attention. Just so much is happening in that space, that I think people that haven't started making new decisions relative to where the software runs that supports the accounting side of their business are going to be looking toward the cloud. What business opportunities are there for CPAs in the technology space? Collins: I think that technology offers an abundance of great opportunities to expand your business. Cloud-based storage properly shared among company employees--that's basically an opportunity for a CPA firm to get into the game of mastering some type of cloud solution and helping companies implement that. A CPA firm could take the time and energy to master Amazon (Web Services, the world's top provider of cloud products and services) and then promote themselves as experts with the Amazon cloud. I think security is another one. We know security's a problem, but who is it that is responsible for locking down the security measures and implementing all of the types of things we need to secure data? You might think that a computer technology company might make sense, but a CPA firm could make a lot of sense in this area. At least one of them that's just a dramatic, glaring problem is, according to PGP, Pretty Good Privacy, 95% of all emails are still not encrypted. …" @default.
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• W753372587 date "2014-04-01" @default.
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• W753372587 title "Harnessing the Power of the Cloud: Experts Advise Caution as the Profession Exploits the Great Potential of Emerging Technologies" @default.
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