Facilitating PAO development with a view to strengthening the MSME sector Yasmine El-Ramly, CPA/CITP Project Manager – PCPS/Firm Services

Private Companies Practice Section What is the American Institute of CPA? What is the American Institute of CPAs (AICPA)?

Private Companies Practice Section World’s largest member association representing the accounting profession AICPA sets ethical standards & US auditing standards for audits of private & nonprofit companies, federal, state and local governments AICPA develops and grades the uniform CPA exam AICPA offers CPE, publications, conferences, workshops

Private Companies Practice Section AICPA offers specialty credentials for CPAs: Accredited in Business Valuation (ABV) Certified in Financial Forensics (CFF) Certified Information Technology Professional (CITP) Personal Financial Specialist (PFS) Chartered Global Management Accountant (CGMA)

Private Companies Practice Section CPA Reputation Stands Strong Overall evaluations of professionals among Business Decision Makers (BDMs)

Private Companies Practice Section What are we hearing from our members?

Private Companies Practice Section 2011 PCPS CPA Firm Top Issues Look for 2013 Survey Results in June

Private Companies Practice Section Client Acquisition and Retention Trusted Business Advisor (TBA) 2.0 Workshop  Make knowledgeable and confident presentations to clients  Demonstrate and price unique value  Ask the right questions to understand client concerns and priorities  Use core skills and evolve as clients’ strategic partner  Build strong relationships and earn clients’ trust  For a schedule of classes follow this link: cpa.com/training

Private Companies Practice Section Trusted Business Advisor (TBA) 2.0 Toolbox

Private Companies Practice Section Client Acquisition and Retention AICPA Tax Practitioner’s Toolkit – Communicate Your Value  Preparing Your Firm to Understand and Articulate the Value of Your Tax Services  Implementation checklist  CPAs vs. unlicensed tax preparers PowerPoint template  Engaging With Clients to Stay Top of Mind  Customizable client-facing brochures and PowerPoints  Tax blurbs for websites or newsletters  Promoting Your Firm to Attract New Clients  Print ads

Private Companies Practice Section Partner Accountability and Unity Partner Accountability and Unity Guide Leadership Attributes Assessment Governance grid sample Finding Qualified Staff Team Recruitment Action Plan Sample Recruitment Advertisement Firm Needs Assessment Interview questions Value proposition for joining firm Retaining Qualified Staff Firm Competency Model Exit interview template New hire checklists and agendas Mentoring guide Performance management templates Tools for Human Capital Concerns: Human Capital Concerns PCPS Human Capital Resource Center

Private Companies Practice Section 2012 PCPS Succession Survey 54% without written plan Leadership development tops challenges 44% of firms in M&A talks Few managing partners have ability to hold partners accountable Multi- Owner Firms 94% without Practice Cont. Agreement 39% intend to merge or sell Half expect to sell $1 for $1 of billings, actual is likely much less Sole Owners

Private Companies Practice Section  Covers key practice management issues and enables firms to:  Benchmark management policies and financial results  Gain strategic insights and guidance The National MAP Survey’s rich history makes it the leading benchmarking survey for CPA firms. See how your firm measures up using targeted and relevant practice management benchmarks including billing rates, chargeability ratios, compensation and other key performance indicators. aicpa.org/pcps/MAP2012 Firms Today 2012 PCPS/TSCPA National MAP Survey

Private Companies Practice Section PCPS Website

Private Companies Practice Section More Than 5,600 Participants About 6,300 Cumulative CPA Feedback Hours More than 75,000 comments Significant Results Achieved

Private Companies Practice Section CPA Horizons 2025 Core Purpose standing the test of time Making sense of a changing & complex world Core Values substantially unchanged Core Competencies evolved Core Services no longer limited 10 Key Insights emerged

Private Companies Practice Section Core Values Integrity Competence Lifelong learning Objectivity Commitment to excellence Relevance in global marketplace

Private Companies Practice Section Core Competencies Communications skills Leadership skills Critical thinking and problem-solving skills Anticipating and meeting needs Synthesizing intelligence to insight Integration and collaboration

Private Companies Practice Section Key Insights Your Firm, Your Company, YOU ! Worldwide Profession Market Permission Trusted Attester Pride in the Profession Demographic Shifts Trusted Advisor Marketplace Value Proposition Technology Value Proposition Technology Lifelong Learning

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