Corporate Finance Series: Demystifying AI for CPAs and Corporate Finance Professionals (in collaboration with FICPA)

• Identify appropriate AI tools for specific accounting tasks and distinguish between consumer AI (ChatGPT) and professional-grade solutions suitable for CPA practices.
• Develop a basic AI policy for their organization using provided templates that address client data protection, acceptable use, and disclosure requirements.
• Apply ethical decision-making frameworks to common AI scenarios in accounting practice, maintaining professional skepticism while leveraging AI capabilities.
• Implement security protocols for protecting client financial data when using AI tools, including specific vendor evaluation criteria and data handling procedures.
• Create a 90-day implementation roadmap for introducing AI into their practice with defined pilot projects, budget estimates, and success metrics.
• Recognize and mitigate key risks associated with AI use in accounting, including data privacy violations, over-reliance on automation, and potential liability issues.
• Train staff on responsible AI use with clear guidelines, practical examples, and ongoing monitoring procedures.
• Evaluate the cost-benefit of AI investments for their specific practice size and client base, with realistic ROI expectations and timeline projections.

Module 1: AI Literacy - Understanding What AI Can and Cannot Do (1 hour)

This opening module cuts through the hype to provide CPAs with practical understanding of AI capabilities relevant to their practice. Participants will learn to distinguish between ChatGPT-style tools and specialized accounting AI applications, understanding which tasks AI handles well (data entry, pattern recognition, document analysis) and where human judgment remains essential (professional skepticism, client relationships, ethical decisions). The module includes a live demonstration of three AI tools CPAs can start using immediately: one for document review, one for data analysis, and one for research assistance.

• Key Takeaway: A clear framework for evaluating AI tools with a simple checklist to determine if an AI solution is appropriate for specific accounting tasks, plus hands-on experience with three tools participants can implement within 30 days.

Module 2: AI Policy - Creating Practical Guidelines for Your Practice (1 hour)
This module provides a straightforward approach to developing AI policies that protect your practice while enabling innovation. Participants will work with a template AI policy document that addresses client data protection, acceptable use cases, prohibited activities, and staff training requirements. Discussion focuses on real scenarios CPAs face: Can we use ChatGPT for tax research? How do we handle client data in AI systems? What disclosures do we need? The module includes examples of policies from mid-sized CPA firms that have successfully implemented AI.

• Key Takeaway: A customizable AI policy template that participants can adapt for their organization within one week, including specific language for client engagement letters and staff procedures.

Module 3: AI Ethics and Security - Protecting Clients and Your Practice (1 hour)
This module addresses the two biggest concerns for CPAs: maintaining ethical standards and protecting sensitive financial data. Participants will learn specific security protocols for using AI with financial data, including data anonymization techniques, secure AI platforms appropriate for CPAs, and red flags that indicate security risks. The ethics discussion focuses on practical scenarios: maintaining professional skepticism when using AI-generated analysis, ensuring transparency with clients about AI use, and avoiding over-reliance on automated recommendations.

• Key Takeaway: A security checklist for vetting AI vendors and a decision tree for ethical AI use in client engagements, plus specific recommendations for three secure AI platforms suitable for CPA practices.

Module 4: Implementation Roadmap - Starting Your AI Journey Responsibly (1 hour)
The final module provides a realistic 90-day implementation plan for introducing AI into a CPA practice. Starting with low-risk, high-value applications (like automated data entry and document organization), participants will map out a phased approach that minimizes disruption while demonstrating value. Discussion includes budget considerations (most useful AI tools for CPAs cost $20-200/month), staff training approaches that work, and metrics for measuring success. The module concludes with an interactive exercise where participants identify their first AI pilot project.

• Key Takeaway: A personalized 90-day implementation roadmap with specific milestones, budget estimates, and success metrics, plus identification of one pilot project to begin immediately.