Transforming: Tales of Business Evolution

Engagement letters do more than protect CPA firms; they can also be among the most valuable tools in a firm's operations. Stephanie Otero, VP – Small Firms Advocate at the AICPA talks with Sarah Ference, Risk Control Director for the Accountants Program at CNA, and Nicole Graham, Risk Consultant at Aon, about what makes an engagement letter effective. Drawing on real claim examples, they explain how specific wording can make a meaningful difference when questions arise about what a firm was, or was not, engaged to do. As firms move further into advisory and outsourced services, the need for a clearly defined scope becomes ever more important. The conversation looks at scope creep and seemingly harmless client requests that begin with "one more question." Sarah and Nicole share ways to document additional work and explain why a firm's engagement letter, client communications, and billing should tell a consistent story. They also discuss how smaller firms can make engagement letters a routine part of doing business rather than another administrative task competing for time. The discussion closes with considerations around AI, including why firms may want their engagement letters to address the use of AI in client services while making clear that professional judgment and responsibility for the work remain with the firm. To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes. Continue the conversation beyond this episode in the Engage365 PCPS Community, where members can connect with peers, share ideas, access exclusive resources, and discover what's working across firms like yours. Thanks for listening. We'd welcome your feedback at https://www.aicpa-cima.com/podcastsurvey or contact us directly at [email protected].  ---------------------------------------------------------------------------------------- This is a podcast from AICPA & CIMA (https://www.aicpa-cima.com). Enjoy more conversations from our global community of accounting and finance professionals by exploring our network of free shows at www.aicpa-cima.com/podcast.

As the profession evolves, accounting firms are reexamining assumptions that have guided their business models for decades. In this episode, Lisa Simpson, CPA, CGMA, Vice President of Firm Services at the AICPA®, talks with Chase Carpenter, Chief Executive Officer, Partner at H&S Companies, CPAs & Business Advisors, about their ongoing transformation from a traditional CPA firm to an advisory-focused professional services organization. Facing a major ownership transition and shifting market dynamics, Chase's firm reexamined its operating model, governance structure, talent strategy, and client experience to build a more sustainable path forward. Chase shares how his firm moved beyond traditional ways of working to create a stronger foundation for the future. He reflects on what it took to build alignment, make better use of his staff's strengths, and shift client conversations toward more proactive advice and lasting value. For firm leaders navigating change in their own organizations, this conversation offers a practical look at leading transformation with clarity, discipline, and purpose. Additional resources: Governance Series: Implementing Operating Models in Your Firm PCPS Governance Toolkit & Podcast Series PCPS Right-Sizing Your Client Base Toolkit Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at [email protected] To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes. Continue the conversation beyond this episode in the Engage365 PCPS Community, where members can connect with peers, share ideas, access exclusive resources, and discover what's working across firms like yours. This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at [email protected]

What if the key to firm growth is not working harder but building the right structures to make growth intentional? Morgan Cooper, Marketing Director, and Jeff Jacobs, Director of Development, both at Wilkins Miller LLC, explore how marketing and business development roles can evolve into strategic drivers of firm growth. They share how leadership trust, clear accountability, and a shared vision have helped position their growth team as a catalyst for innovation and long-term success. Morgan and Jeff discuss the role of growth leaders and how they can help shape strategy, not just support it. Their conversation offers practical perspective for firms that want to strengthen business development, build future leaders, and keep relationships at the heart of growth. Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at [email protected] To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes. Continue the conversation beyond this episode in the Engage365 PCPS Community, where members can connect with peers, share ideas, access exclusive resources, and discover what's working across firms like yours. This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at [email protected]

The talent landscape is changing — and firms and organizations that adapt will have a competitive advantage. In this episode, Lexi Weber, CPA, Senior Manager – Emerging Professionals Initiatives, sits down with George Forsyth, CPA, Managing Partner of WellsColeman and Chair of the AICPA Private Companies Practice Section (PCPS) Executive Committee, for an engaging conversation about a new toolkit that presents recruitment and retention as a connected career journey. The PCPS and Emerging Professionals Recruitment & Retention Toolkit is a practical resource designed to help firms and organizations attract top talent, strengthen culture, improve retention, and develop future leaders. Through the toolkit, firms and organizations will obtain actionable strategies that they can adapt regardless of size or structure to create a stronger talent lifecycle — from recruitment through leadership development. As part of a series on talent development, this episode is packed with fresh ideas to enhance employee engagement, create meaningful career pathways, improve onboarding, and become an employer of choice and will provide practical takeaways you can put into action right away. Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at [email protected]

Recorded live at the AICPA's ENGAGE 2026, Erin Hartman, CPA, Senior Manager – Firm Services, sits down with Cheryl Rhode, CPA, Partner at West Rhode & Roberts, where she explains how she is intentionally developing the next generation of firm leaders and why she brings them to ENGAGE to help build their networks and broaden their perspective beyond the walls of the firm. As Chair of a Private Companies Practice Section (PCPS) Small Firm Networking Group, Cheryl also shares the broader value of learning alongside peers. The conversation covers how her firm adapts to change, develops talent, and stays focused on a shifting profession. Cheryl also discusses AI's potential to create efficiencies and why accounting remains a dynamic career grounded in continuous learning. Whether you're developing future leaders, strengthening your talent pipeline, or preparing for what's next, this episode offers practical insights for firm leaders of all sizes. Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at [email protected] To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes. Continue the conversation beyond this episode in the Engage365 PCPS Community, where members can connect with peers, share ideas, access exclusive resources, and discover what's working across firms like yours. This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at [email protected]  

Many firm leaders are evaluating their ownership and capital models, which includes considering the option of bringing in outside strategic investors. But many firms continue to choose independence as a strategic path.  In this episode, Andrea Wright, CPA, Partner at Johnson Lambert LLP, shares how her firm defines independence through the lens of culture and long-term investment. She explains how that perspective influences decision-making and why the firm reevaluates its direction each year. The conversation also explores how Johnson Lambert thinks about niche service offerings, talent development, succession planning, transparency, and technology investment.  We take a thoughtful look at what it takes to sustain this model and consider these fundamental questions: What are you willing to invest, and why does it matter now? Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at [email protected] To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes. Continue the conversation beyond this episode in the Engage365 PCPS Community, where members can connect with peers, share ideas, access exclusive resources, and discover what's working across firms like yours. This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at [email protected]

In this episode, Laura Crowley, Partner at Citrin Cooperman and member of the AICPA's Women's Initiatives Executive Committee, and Mandy Gallagher, Lead Manager of Women's Initiatives at the AICPA, discuss what it really takes to build a firm where women advance and why every firm that does comes out stronger. Laura and Mandy share practical strategies on sponsorship, leadership development, and retention, drawing on real-world examples from across the accounting and finance profession. Walk away with concrete steps to build a more inclusive and competitive firm. To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes. Explore the Sponsorship Success Toolkit, which includes guidance on building an effective sponsorship program. Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at [email protected] This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at [email protected]  

What does successful growth really look like for today's firms? In this episode, Sarah Krom, CPA, MST, Managing Partner of SKC & Co. CPAs, LLC, explores how firm leaders can scale intentionally without sacrificing culture, people, or purpose. Sarah shares how SKC approaches growth by focusing on other factors beyond revenue and headcount. From launching new service lines to navigating change through overcommunication, this conversation offers practical insight for any firm or organization looking to grow while protecting what makes their firms thrive. To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes. Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at [email protected] This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at [email protected]  

Lauren Baptiste, founder of Acheloa Wellness, explores how burnout is more than just exhaustion; it's a systemic challenge affecting professionals at every level. Lauren highlights the new PCPS Burnout Prevention Toolkit, a practical resource designed to help individuals, firms, organizations, and the profession combat burnout before it starts. Lauren shares her personal journey, actionable strategies for creating healthier work cultures, and quick wins you can implement today. Whether you're a leader looking to support your team or a professional seeking balance, this conversation offers tools to thrive, not just survive.

We're back with another special compilation of conversations offering insights relevant for preparing for busy season. Jaimie Boyd from the AICPA® Firm Services team shares highlights from conversations we've had over the past year with practitioners who are applying the fundamental concepts of the Transforming Your Business Model initiative to their day-to-day operations. From scheduling systems that help tame tax season to the power of virtual teams and intentional client selection, these stories offer practical insights and motivation for firms preparing for busy season and anyone seeking to modernize their practice without sacrificing well-being. You don't want to miss this episode as you prepare for busy season. For the full episodes and resources, check out the following: TfP 012. Creating Balance Without Losing Business TfP 014. Building Balance in a Virtual Firm TfP 010. Leading with Authenticity and Vulnerability TfP 006. Starting your own firm and growing the right client base TfP 013. When Purpose Meets Innovation TfP 011. The Influence of Coaching on Firm Growth AICPA Town Hall: DC updates, hiring insights and better tax season planning PCPS Right-Sizing Your Client Base Toolkit PCPS Outsourcing for CPA Firms Toolkit PCPS Future Talent Trend Toolkit To find out more about transforming your business model, explore our business model transformation resources at aicpa-cima.com/tybm. You'll also see a link there to all of our previous podcast episodes. Thanks for listening. It takes just a couple of minutes to share your feedback. You can also contact us directly at [email protected] This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at [email protected]