STEM Initiative

The Latest on the STEM Initiative

New legislation has the potential to bring Accounting under the umbrella of STEM.

Accounting is Technology

Over the past decade, advances in technology have kept CPAs and accounting professionals on their toes as artificial intelligence, robotics, and blockchain permeate the services they deliver – and there is no sign of them slowing down. To maintain their status as leaders and trusted business advisers, accountants must master these technology-specific hard skills along with ever-relevant soft skills to communicate crucial insights to their employers and clients.

Accounting in STEM

Introduced in the House of Representatives in May 2021 by Representatives Haley Stevens (D) and Victoria Spartz (R), the Accounting STEM Pursuit Act of 2021 proposes the amendment of the Student Support and Academic Enrichment Grant program to also promote awareness of accounting as a part of STEM.

Accounting STEM Pursuit Act of 2021

For more information

Be sure to attend the AICPA's upcoming Faculty Hour webcast Friday, October 22, 2021 beginning at 2:00pm EDT for more information on the background and how you can get involved in the STEM initiative. Registration link will be available here.

For your students

More information for your students can be found under Accounting is Tech.

Learn more

Bill would make accounting part of STEM education
Featured in AccountingToday, June 11, 2021, Author: Michael Cohen

Multi-organizational Letter of Support
Released June 11, 2021, this letter demonstrates support of the STEM initiative from the American Institute of CPAs (AICPA), Center for Audit Quality (CAQ), Diverse Organization of Firms, National Association of Black Accountants (NABA), Inc and NAF

AICPA Supports Accounting STEM Pursuit Act, Which Creates Important Link Between Accounting and STEM
Hear from the AICPA in this press release regarding the multi-organizational letter of support

The 6 Biggest Technology Trends In Accounting And Finance
Featured in Forbes, July 27, 2020, Author: Bernard Marr

Journal of Accountancy articles

COSO provides guidance on application of ERM to cloud computing
New guidance from the Committee of Sponsoring Organizations of the Treadway Commission (COSO), provides a detailed road map for incorporating cloud computing into an organization's enterprise risk management.

Why CPA firms need to know about restricted top-level web domains
New top-level web domains, such as .cpa, are one way for firms to modernize their digital front door. Here's what you need to know about these top-level domains (TLDs) and why you may want to consider using them.

For firms, advanced tech is no longer optional
Firms that place well-thought-out tech solutions at the forefront of their strategy will be best positioned to gain the most in the future.

AICPA & CIMA issue new nonauthoritative guidance for auditing digital assets
AICPA & CIMA released additional nonauthoritative guidance addressing issues related to the auditing of digital assets such as bitcoin and ether. The material covers topics such as risk assessment; processes and controls; laws and regulations; and related parties.

AI presents opportunities for cost optimization in manufacturing
Artificial intelligence and machine learning can drive more efficient operations and more effective growth for manufacturers. Here's how the technology is being used to monitor for defects, schedule preventive maintenance and improve forecasting accuracy.