No Notice, No Fee, No Escape
Currently firms register in the states in which they provide services. Similarly CPAs obtain a state specific license. Traditionally this provided accountability and confidence that the services provided were in accordance with specific state laws.
The changing landscape and environment are challenging these traditional practices and the lines dividing states that restrict which firm or CPA can provide services and where are beginning to fade.
The AICPA and NASBA have been developing what is known as the Uniform Accountancy Act (NRS 628.335 for Nevada) which would allow firms and CPAs to cross these lines and provide services in states in which they are not registered or licensed.
Currently cloud services allow for the technologically capable firm and business to communicate, provide supporting materials and documentation entirely through an internet connection without physically making a presence on-site. This is the business world trying to keep up with all the tools and resources technology is providing.
What will this mean for the future of the Accounting professional?
It might be worth a young professionals time to consider where the profession will be in the next decade and decide how best to prepare.
Reference: Silver State CPA October 2016 edition; topic Firm Mobility Update
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