NEW YORK--(BUSINESS WIRE)--AICPA & CIMA, which together form the Association of International Certified Professional Accountants, are offering a new certificate that provides foundational knowledge on critical subjects related to environmental, social and governance (ESG) reporting and assurance. The growing demand for ESG data – driven by investors, lenders, customers and, increasingly, policymakers – makes this a high priority category for skills development within the accounting profession.

The Fundamentals of ESG Certificate is available globally and is appropriate for CPAs, management accountants such as CGMAs, and finance professionals looking to obtain a baseline knowledge of ESG topics. The 9-hour course offers a grounding in the fundamental concepts of and latest developments within the ESG field. Upon completion, certificate holders can display a digital badge in their online profiles.

“When we talk about preparing the accounting profession for tomorrow, ESG is a core component,” said Susan S. Coffey, CPA, CGMA, AICPA & CIMA’s CEO of public accounting. “Business reporting and the underlying concepts of enterprise value are evolving rapidly, and no group is more essential to instilling trust and integrity into that process than accountants. Our obligation as a profession is to make sure we develop the necessary skills and expertise to lead the integration of ESG into the organization and deliver on high-quality reporting and assurance of ESG information.”

AICPA & CIMA are developing a detailed learning roadmap for ESG. As the first step on that journey, the Fundamentals of ESG Certificate program will provide course takers with the ability to:

• Identify the key aspects in each area of Environment, Social and Governance
• Recognize the expectations of investors and the impact on business
• Assess the responsibility of businesses for key ESG issues
• Recognize the business case for implementing sustainable practices
• Identify the role of the accounting and auditing profession in sustainability
• Recognize the current sustainability reporting frameworks and reporting requirements

Pricing and further details of the program are available on the certificate home page. For an array of other resources on sustainability and ESG, please visit aicpa.org/esg.

About the Association of International Certified Professional Accountants, and AICPA & CIMA

The Association of International Certified Professional Accountants (the Association), representing AICPA & CIMA, advances the global accounting and finance profession through its work on behalf of 689,000 AICPA and CIMA members, students and engaged professionals in 196 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license and specialized credentials, professional education and thought leadership. We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.

The American Institute of CPAs (AICPA), the world’s largest member association representing the CPA profession, sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state and local governments. It also develops and grades the Uniform CPA Examination and builds the pipeline of future talent for the public accounting profession.

The Chartered Institute of Management Accountants (CIMA) is the world’s leading and largest professional body of management accountants. CIMA works closely with employers and sponsors leading-edge research, constantly updating its professional qualification and professional experience requirements to ensure it remains the employer’s choice when recruiting financially trained business leaders.

Now that you know what SHRM is and why it’s important, you may wonder how to get started. The process involves knowing the goals of your company, its abilities, future needs and resources. From there, you put your plan into action, then reassess and pivot if necessary.

Here are the five steps to strategic human resources plan:

1. Know your company’s goals and abilities

The first step to SHRM is understanding your company’s goals and abilities. When you know your company goals and can articulate them, you’ll have an easier time creating programs and policies that support those goals. You’ll also be able to more effectively measure the success of your SHRM programs and make changes as needed.

Consider the following questions:

• What are your company’s long-term goals?
• What are your company’s strengths and weaknesses?
• What resources does your company have now?
• What skills does your workforce currently have?
• Are there any gaps in talent or skills?

Answering these questions will help you understand your company’s goals and abilities, and how SHRM can help you achieve those goals.

2. Forecast future needs

Now that you have an idea of your company’s goals and abilities, you need to forecast future needs. In order to ensure your company’s future success, you need to predict how many employees with the required skills will be necessary and measure it against your company’s current workforce. This will help you determine what skills your company will need in the future and how to develop those skills in your workforce.

Consider the following questions:

• What skills will your company need in the future?
• How many employees with those skills will you need?
• How does that compare to your current workforce?

By answering these questions, you will be able to comprehend what abilities your company will need in the future and how to cultivate a workforce with those required skills.

3. Determine the resources needed to achieve company goals

After you know your company’s goals and have forecasted future needs, you need to determine the resources needed to achieve those goals. This includes identifying the financial resources, human resources and physical resources required.

Consider the following questions:

• What financial resources will you need to achieve your company’s goals?
• What human resources will you need to achieve your company’s goals?
• What physical resources will you need to achieve your company’s goals?

To determine these, you’ve got to conduct an audit of both your internal and external resources. This will provide you a sense of what types of resources you have available to achieve your goals and where you may need to supplement.

For example, if you’re looking to expand your workforce, you may need to invest in recruiting programs. Or, after conducting a needs assessment, you may find that your current workforce doesn’t have the necessary skills to achieve your company’s goals, so you’ll need to invest in training programs.

Another example is if you’re looking to launch a new product. In this case, you’ll need to consider the financial resources required to develop and market the product, as well as the physical resources required to produce it. You’ve also got to consider talent and skill set when launching a new product. Do you have the right people in place to bring your product to market? And do they have the necessary skills to do so?

4. Execute your plan

Now that you’ve set your company’s goals, forecasted its future needs and gathered the resources required to achieve those goals, it’s time to put your SHRM plan into action. Most companies start by recruiting the right candidates, training and development and then performance management. However, this will vary depending on your company’s specific needs.

If you already have a large talent pool to choose from, you may be better off cultivating skills of current employees before recruiting outside talent. After you’ve satisfied that resource, you may find you still need to hire. If so, you’ll need to have clear expectations and skill requirements before recruiting.

Once you’ve hired talent, it’s imperative to have a proper onboarding process. This will help ensure that your new hires are set up for success and understand what’s expected of them. After you’ve brought new talent into the fold, you need to focus on development. This includes training programs as well as opportunities for professional growth. By offering these opportunities, you’ll be able to retain top talent and keep them engaged in their work.

Last but not least is performance management. This includes setting clear expectations, providing feedback and conducting performance reviews. Performance management is a key part of SHRM as it helps ensure that your workforce is meeting expectations and contributing to your company’s bottom line.

Here are a few things to keep in mind when executing your SHRM plan:

• Set realistic goals and timelines. Trying to accomplish too much in a short period of time can be overwhelming and lead to mistakes.
• Get buy-in from upper management. If those at the top aren’t on board with your SHRM plan, it’s going to be difficult to get everyone else on board.
• Communicate with your employees. Employees should be aware of the goals of the SHRM plan and how it will affect them. This will help get them on board and ensure that they’re working towards the same goals.
• Be prepared to adjust your plan. As with any plan, things may not go as expected. Be prepared to make adjustments to ensure that you’re still on track to achieve your company’s goals. We’ll discuss this in detail in the next section.

5. Assess and pivot

After you’ve executed your SHRM plan, it’s important to assess how things are going. This includes looking at what’s working and what’s not. Based on your assessment, you may need to make adjustments to your plan. For example, if you’re not seeing the results you want, you may need to change your recruiting strategy. Or, if you’re finding that your training programs aren’t effective, you may need to make changes to those as well.

It’s also important to keep in mind that your SHRM plan is not a one-time thing. As your company grows and changes, so too will your SHRM needs. As such, it’s important to revisit your SHRM plan on a regular basis to ensure that it’s still relevant and effective.

RICJ’s current chairperson Eileen Rhodes, has been re-elected, along with secretary Kim L. Hunt. New board member Reese Marcusson has been elected treasurer. Returning at-large board members are Alison Cuddy, Vanessa Fernandez, and Robert Reiter. New at-large members are Daniel Dever, Matt Doubleday, Torrence Gardner, and Christina Crawford Steed. Officers serve for one year while at-large members serve in staggered two-year terms.

Gavin Baker, President & Founder of Baker Marketing Laboratory, a digital marketing agency with strategic solutions for healthcare companies

All doctors want to be the best in their field. And how do you prove you’re the best? Patient reviews. Prospective patients trust the opinions of their friends, family and even strangers who leave online reviews about their experience at a healthcare practice. A 4.7-star dentist with hundreds of positive reviews looks much more desirable than the two-star practice down the road.

Although it can feel as if patient reviews are out of your control, online reputation management is a key area of marketing for healthcare practices. People can leave reviews on a number of platforms, including search engines and social media apps, so it’s important to be aware of where and how your patients are reviewing your healthcare business to manage your reputation.

Where Should Patients Leave Reviews?

Three of the most effective platforms for review generation include Google, Facebook and Yelp.

• Google

In terms of average monthly U.S. traffic, Google has been found to be the most important review platform for driving consumer decision-making and improving local SEO. Reviews are a key factor Google looks at when determining your local search ranking. A greater number of positive reviews and an overall higher rating can Strengthen your prominence as a business, which can help you rank higher on Google when people are searching for your services.

• Facebook

Facebook has over 2 million monthly active users, so reviews on the platform have a wide reach and influence on prospective patients. Reviews appear at the top of Facebook business pages by default, which Facebook recommends leaving on so you remain transparent with users who visit your page.

• Yelp

Yelp’s entire purpose is to foster reviews about businesses in your community, so having a presence on the platform is a steppingstone for building patient trust. Researchers have found that for the healthcare industry specifically, Yelp reviews can provide an insightful narrative around patient experience and quality of care.

There are also some review platforms that are specific to the healthcare industry, such as Healthgrades and Vitals. Creating a profile on these types of databases can help boost awareness and notoriety of your practice among patients searching for doctors in their area.

After looking into where patients are leaving reviews of your healthcare practice, you can then work to manage your online reputation.

How To Manage Your Online Reputation

While patients are ultimately the ones sharing their experiences, you can take steps to manage your healthcare practice’s reputation by asking for reviews, responding to reviews and turning reviews into testimonials.

• Asking for Reviews

The number of reviews you have matters. It generates social proof, which means people will trust that you provide high-quality healthcare when they see that many others have experienced it firsthand. Having a higher number of reviews can also help create a more accurate picture of what patients think about your practice since the reviews are coming from a larger data sample.

Although you may not be able to control what people say about your healthcare practice, you can control whether or not you are asking patients to leave reviews. According to a recent survey, 12% of consumers said they have always left a review when they were prompted by a business in the past 12 months, and 35% said they left a review at least half of the time they were asked in the past 12 months.

Reputation management tools like BrightLocal, Birdeye and Grade.us can help you send review requests to accurate patients on a regular basis. Review requests should be merged into your current patient communication efforts, such as email newsletters or text messages, to get the highest possible completion rate.

• Responding to Reviews

Responding to reviews helps showcase your character, build trust and resolve conflict when necessary. You should respond to all patient reviews—both positive and negative. The way you respond to a patient’s negative comments can ultimately shape the experience, and potentially turn the review into a positive one.

Review responses should feel personal and come from the healthcare provider themselves if possible. Harvard Business Review found that when people see managers responding to reviews regularly, they may choose not to leave a negative review—even if they were planning on it—so they can avoid any uncomfortable interactions.

• Turning Reviews Into Testimonials

Reviews should live not only on external sites like Yelp and Google. Positive reviews should also be leveraged in your own marketing materials and platforms. This could be in the form of:

• Posting patient quotes on social media.
• Adding a reviews section to your website homepage.
• Filming long-form video testimonials.

Video testimonials specifically can help you build a trusted brand. If a patient leaves a Google review detailing their exceptional experience with your healthcare practice, ask them to be featured in a video sharing their full story. This helps put you in control of your reputation and create loyal brand ambassadors for your healthcare practice.

Sharing reviews can also encourage other patients to talk about their own experiences. This, in turn, generates more reviews and client stories for you to use.

Prioritizing review generation and management for your healthcare practice can help you control your own reputation, make a positive first impression on prospective patients, and start becoming known as the best in your field.

Forbes Agency Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?

This study will enroll patients to evaluate which combination of three proposed interventions — including health coaching, food delivery and remote patient monitoring — will help patients manage diabetes and also be sustainable for health systems to implement.

NEW YORK--(BUSINESS WIRE)--Dec 1, 2022--

Some 51% of business executives say the U.S. economy is either already in recession or will be by the new year, according to the fourth-quarter AICPA & CIMA Economic Outlook Survey. The survey polls chief executive officers, chief financial officers, controllers and other certified public accountants in U.S. companies who hold executive and senior management accounting roles.

Only 12% of business executives expressed optimism in the U.S. economy over the next 12 months, the lowest level since the throes of the Great Recession in early 2009. That compares to 18% last quarter and 41% a year ago. Inflation, rising interest rates and high energy costs were cited as key reasons for pessimism in the outlook.

One major overhang for finance teams in accurate quarters is uncertainty. One-in-four survey takers say their organizations have increased their rounds of forecasting compared to what they were doing during the pandemic economy. Roughly another third say they are continuing a stepped-up level of forecasting from that time.

Beyond the frequency of forecasting, more than one-in-four business executives say forecasting has become significantly more complex over the past year, with another 37% saying it became slightly more complex. Key factors are uncertainty surrounding pricing issues, supply chain reliability, labor costs and shifting consumer demand.

“We saw record increases in the frequency of forecasting and projections during the pandemic and that trend is clearly continuing amid uncertainty over inflation, supply chain integrity and recession risk,” said Tom Hood, CPA, CITP, CGMA, the AICPA & CIMA’s executive vice president for business engagement and growth. “We expect this pace to stay strong as companies work on their cash flow through the next few quarters.”

Key pressure points for CFOs as they grapple with heavier workloads, Hood noted, are finance team staffing and digital transformation of finance work streams.

The AICPA survey is a forward-looking indicator that tracks hiring and business-related expectations for the next 12 months. In comparison, the U.S. Department of Labor’s November employment report, scheduled for release tomorrow, looks back on the previous month’s hiring trends.

Other key findings of the survey:

• On hiring, 34% of business executives said their organizations are looking to fill roles immediately, the same as last quarter, while another 17% said they had too few employees but are hesitant to hire. Eight percent said they had too many employees, an uptick from five percent last quarter.
• Profit expectations for the next 12 months dipped into negative territory (-0.2% decline), down from zero anticipated growth last quarter. Revenue growth projections also fell from 2.6% to 2.1%, quarter over quarter.
• Business executives’ optimism about their own organizations’ prospects over the next 12 months dropped another six points from 41% to only 35%
• Forty-five percent of business executives said their companies had increased their cash position in the past 12 months, with 14% saying they had raised cash on hand substantially.
• U.S. business executives’ outlook on the global economy over the next 12 months also fell, from nine percent last quarter to seven percent.
• Inflation was the top concern of business executives for the fifth straight quarter. Other top challenges included “Employee and Benefit Costs” and “Availability of Skilled Personnel.”
• The percentage of business executives who said their companies plan to expand fell three points from 49% to 47%, quarter over quarter.

Methodology

The fourth-quarter AICPA & CIMA Economic Outlook Survey was conducted from Oct. 25 to Nov. 17, 2022, and included 551 qualified responses from CPAs who hold leadership positions, such as chief financial officer or controller, in their companies. The overall margin of error is less than 3 percentage points. A copy of the report can be found on aicpa.org.

About the Association of International Certified Professional Accountants, and AICPA & CIMA

The Association of International Certified Professional Accountants (the Association), representing AICPA & CIMA, advances the global accounting and finance profession through its work on behalf of 689,000 AICPA and CIMA members, students and engaged professionals in 196 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license and specialized credentials, professional education and thought leadership. We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.

The American Institute of CPAs (AICPA), the world’s largest member association representing the CPA profession, sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state and local governments. It also develops and grades the Uniform CPA Examination and builds the pipeline of future talent for the public accounting profession.

The Chartered Institute of Management Accountants (CIMA) is the world’s leading and largest professional body of management accountants. CIMA works closely with employers and sponsors leading-edge research, constantly updating its professional qualification and professional experience requirements to ensure it remains the employer’s choice when recruiting financially trained business leaders.

View source version on businesswire.com:https://www.businesswire.com/news/home/20221130006227/en/

CONTACT: Jeff May

212.596.6122

jeffrey.may@aicpa-cima.com

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES DATA ANALYTICS FINANCE CONSULTING BANKING ACCOUNTING

SOURCE: American Institute of CPAs (AICPA) and Chartered Institute of Management Accountants (CIMA)

Copyright Business Wire 2022.

PUB: 12/01/2022 07:28 AM/DISC: 12/01/2022 07:28 AM

http://www.businesswire.com/news/home/20221130006227/en