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]