AICPA Releases Guide Book on Cloud Computing for Certified Public Accountants

Wednesday, August 8, 2012 Print Email

In order to provide advice to Certified Public Accountants regarding the procedure for using cloud computing, the American Institute of Certified Public Accountants has issued a new guide book that contains information on cloud computing. The book-“10 Steps to a Digital Practice in the Cloud: New Level of CPA Firm Workflow Efficiency” has been authored by Bryan Smith and John Higgins. Both Higgins and Smith are Certified Public Accountants who have acquired the Certified Information Technology Professional certificate.

As per Higgins, companies must design and acquire a comprehensive plan for technology as there is a very high chance that they end up investing in the inappropriate solutions at an incorrect time. He further mentioned that this could be expensive for companies both monetarily and staff wise.

Higgins also mentioned that the profession of accounting has understood the cloud computing concept well but they haven’t understood how unique and useful it is. Companies often face difficulty in understanding technology’s value strategically.

In their guide book, Higgins and Smith have described the ten steps for operating digital practice in the Cloud. They recommended the following steps:

1. Getting the appropriate infrastructure related to technology for leveraging cloud computing.

2. Provisioning of internet bandwidth in sufficient quantity, both wireless and wired, in order to operate appropriately.

3. Selecting appropriate laptops, desktops, software and mobile devices in order to operate in a cost-effective and productive manner.

4. Installing of the correct scanning machines so that firms are easily able to shift to office that uses no or less of papers.

5. Deployment of a document managing system to enhance the efficiency using digital recording procedure.

6. Using software related to trial balance working paper, in case the company performs such engagements.

7. Transforming the company’s website into a complete client website.

8. Enhancing productivity using workflow related software.

9. Providing customers cloud based financial accounting procedures and systems.

10. Having the correct tools as well as plans in place, in order to ensure security of data and disaster recovery at a greater speed.

Higgins will be discussing all the topics mentioned in the guide book at the Digital CPA: 2012 CPA2Biz Cloud Users Conference, which will be held on 28-30th October 2012 in Washington.  

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