AICPA peer review centralization, CPE standards refresh, and FASB’s software-cost update

Welcome to our weekly digest—a space to reflect on where the accounting profession is headed and how it’s evolving in real time. Each week, we bring you a curated roundup of recent headlines, ideas, and innovations shaping the future of the industry.

From emerging technologies and shifting talent pipelines, to strategic mergers and evolving client expectations, the profession is in motion. Our goal is to surface stories that matter—whether you’re leading a firm, advising clients, or just ruminating about what comes next.

In last week’s issue, we covered IESBA’s new sustainability assurance guidance, rising accounting salaries for new hires, and a warning from the SEC over IFRS’s sustainability and climate focus. This week, the big focus is on standards and oversight updates from the rule-setters of accounting. We look at the AICPA plan to centralize peer reviews for private-equity and firms operating under alternative practice structures, NASBA–AICPA’s exposure draft to modernize CPE standards, and FASB’s software cost capitalization update. Plus, we’ll cover CBIZ’s middle-market AI launch, BDO’s HORNE expansion, KPMG’s workplace-friendship findings, and an accountant who serves as a ballpark organist.

Let's dive in.

🔍 Top headlines

AICPA proposes centralizing peer reviews for private equity-backed firms

The AICPA Peer Review Board is seeking feedback on a proposal that would change how peer reviews are administered for firms operating under alternative practice structures (APS), such as those with private equity investment, a notably growing trend. Currently, 23 state entities handle these reviews, but under the draft Peer Review Standards Update No. 3, oversight would shift to the National Peer Review Committee beginning for reviews with years ending on or after December 31, 2025. The move is intended to strengthen consistency, address stakeholder concerns around independence and quality, and provide time to develop guidance for state entities as APS models expand. The proposal also tightens reviewer qualifications for firms working under PCAOB standards.

With public comments open until October 25, the profession is being asked to weigh in on how best to safeguard quality as new ownership structures reshape the accounting landscape.

NASBA and AICPA release proposed updates to CPE standards

NASBA and the AICPA have issued an exposure draft of proposed revisions to the Statement on Standards for Continuing Professional Education (CPE) Programs, inviting comments through December 16, 2025. The updates seek to modernize how CPE is delivered and measured, particularly as new learning technologies and methods reshape professional development. The goals include clarifying credit-awarding mechanisms, ensuring programs stay responsive to evolving practice needs, and maintaining the quality and integrity of lifelong learning. The draft reflects input from multiple committees and stakeholders across the profession. 

NASBA’s Erin Scruggs emphasized that adapting the standards is essential to keeping CPE relevant, while the AICPA’s Barbara Andrews noted that ongoing education strengthens individual expertise and the profession’s role in supporting resilient financial systems. To help shape what comes next, accountants are encouraged to review the draft at nasbaregistry.org and share feedback through the official comment form.

FASB finalizes guidance on software cost capitalization

The Financial Accounting Standards Board (FASB) has finalized targeted new guidance clarifying how companies should capitalize certain internal-use software costs, effective for fiscal years beginning after December 15, 2027. The update, which amends Subtopic 350-40, directs companies to capitalize costs once a project is authorized, funded, and considered likely to be completed, removing prior references to development “stages.” The aim is to align accounting practices with modern software development methods, while simplifying application. 

FASB Chair Richard R. Jones noted the change should improve operability of the rules and result in clearer reporting. The guidance applies to software developed or purchased for internal use, including SaaS- and cloud-based tools, but excludes licensed software. While companies may face one-time costs to adjust processes, FASB Board expects ongoing cost savings, since entities that capitalize fewer costs will no longer need to track expenditures at such granular levels.

💻Technology & innovation

CBIZ launches AI platform tailored for the middle market

Top 10 firm CBIZ has rolled out Vertical Vector AI, an artificial intelligence platform built specifically for middle-market businesses. The solution integrates directly with Microsoft Azure and company datasets, keeping sensitive information under the firm’s control, while offering tools such as a pre-built prompt library and Microsoft Teams integration. Designed for quick implementation, it promises “practical AI” that balances security, simplicity, and impact. The launch follows CBIZ’s broader effort to centralize its technology services and expand client-facing digital solutions.

EY-Parthenon debuts neurosymbolic AI for enterprise growth

EY-Parthenon has unveiled EY Growth Platforms, an AI system powered by neurosymbolic technology that blends machine learning with logical reasoning. The platform helps companies simulate real-time market scenarios, uncover growth opportunities, and build new business models at scale. Early use cases span financial services, consumer products, and industrial operations, with results consistently identifying growth opportunities worth hundreds of millions of dollars. Leaders say the tool offers transparency, predictive power, and actionable foresight, positioning it as a reset, not just an enhancement, of how enterprises approach revenue growth.

TaxDome and Verito launch free IT security hotline for firms

Practice management platform TaxDome and cloud provider Verito have teamed up to offer accounting firms a free security hotline. The service gives firms direct access to IT and cybersecurity experts for immediate guidance on threats such as ransomware, phishing, and compliance risks. The goal is to make expert help accessible without costly consulting fees, a critical step for small- and mid-sized firms that often lack in-house IT support. The 24/7 hotline is live now.

🧠Practice management

KPMG finds that friendship at work is a retention lever, not a perk

A recent KPMG survey found that 57% of workers would choose a job paying 10% below market over one 10% above if it meant working with close friends. Valuing friendships rose to 87% (from 81% in November 2024), while reported workplace loneliness nearly doubled to 45%—highest among remote workers and individuals working in telecommunications, media, and tech. Nearly all survey respondents were curious about AI-enabled connections (99% would try an AI “friend” and 98% want AI to match coworkers by interests), yet half worry tech can hollow out relationships. For firms, engineered social connection such as team bonding, and communities of practice, directly supports engagement, retention, and performance.

International Equal Pay Day: Pay equity is now table stakes

Equal pay isn’t just a metric; it’s a trust signal for candidates and a retention lever for teams. Unfortunately, gaps continue to persist, with women continuing to make around 20% less than their peers. Payscale’s 2025 study puts women at $0.83 per $1 for men; McKinsey/LeanIn flags the “broken rung” at first-level management. Gen Z is accelerating transparency—more than 80% want pay ranges and nearly half weigh on them heavily. Firms can bridge the gap by taking a few practical steps, including running regular pay audits, using multi-reviewer promotion decisions, publishing clear bands and criteria, banning salary-history anchors, and explaining decisions.

7 everyday levers to boost margin and growth

Julie Nilsen of Nimbl highlights seven firm-wide behaviors that move the needle even without a title:

1. Flag and quantify workflow inefficiencies.
2. Propose ROI-backed fixes.
3. Listen for client pain points to pilot new services.
4. Use conversations to cross sell.
5. Delegate work to the right level.
6. Let AI draft first passes, saving 10–15 minutes per client monthly.
7. Get ahead of regulation , such as expanded 1099 reporting in 2026, with checklists, client comms, and internal training.

The throughline: Present changes with time-and-dollar math. When staff own small improvements, firms reduce delivery cost, expand advisory revenue, and build a pipeline of future leaders.

🏢 Firm news & mergers

Aprio acquires Mize CPAs and Prism Financial Group

Aprio is expanding in the Midwest with its planned acquisition of Topeka-based Mize CPAs, and its affiliate, Prism Financial Group. The deal adds 20 partners and 300+ professionals across Kansas, plus $1.8 billion in managed assets. Known for its strong McDonald’s franchise practice, Mize enhances Aprio’s franchise and entrepreneurial services, while Prism strengthens Aprio Wealth Management, which will reach $5 billion in assets under management. The move underscores Aprio’s aggressive PE-backed growth strategy and commitment to scaling regional teams.

Cabrillo Advisors joins Crete Professionals Alliance

Valuation and advisory firm Cabrillo Advisors has joined the Crete Professionals Alliance (CPA), a national network of 20+ firms. The partnership expands Cabrillo’s reach, while preserving its brand and leadership, giving clients access to broader tax, audit, and advisory services. Crete’s shared resources, including HR, IT, and legal support, are designed to enhance service delivery, while offshore talent pools in India and the Philippines strengthen recruitment. Cabrillo CEO Wade Hansen called the move a “transformative chapter” for clients and staff.

BDO USA to add over 1,300 professionals through HORNE deal

BDO USA is making its largest expansion yet, announcing plans to integrate HORNE LLP, and its 1,300+ professionals across the Southern US, Washington, D.C., and Puerto Rico. The move bolsters BDO’s capabilities in government services, especially disaster recovery and compliance, where HORNE has managed $126 billion in funding streams. The deal, set to close on November 1, also creates BDO Government Services, LLC, and establishes BDO’s first direct presence in Puerto Rico. The combination strengthens both firms’ commitment to clients, communities, and growth.

🏅 Featured accountants & firms

From ledgers to walk-up music: The accountant who’s also the Detroit Tigers’ organist

By day, Dave Calendine handles the numbers for Delaware North, a company that handles food, beverage, and retail operations at Comerica Park stadium. By night, he’s the Tigers’ ballpark organist. The first to hold the position in 42 years, Calendine is in his second season of getting every riff and rest just right. Wearing a No. 61 jersey (for the number of keys), Calendine plays a digital Hauptwerk organ—his own—that assembles and disassembles like an “organ from IKEA,” and is basically like a big theater pipe organ that connects to the stadium’s sound system. He times each cue to the pitch clock, making sure to play only between innings and during stoppages. A longtime Detroit Red Wings and Fox Theatre musician, he’s another reminder—à la Kent Broussard—that the accounting profession has its fair share of hidden virtuosos,

📅 Events, podcasts & webinars

WATCH

In the Know: Updates to Intuit Enterprise Suite

In this episode of Proadvisor In the Know, Jaclyn Anku spotlights July’s US-only release for multi-entity clients. This includes a shared Chart of Accounts and Dimensions (with onboarding/cleanup agent), intercompany sales that auto-create the counterparty bill and a pre-populated elimination—plus consolidated reporting with internal/external AR/AP filters, saved views, and new drilldowns to transaction detail (full click-through coming). And while only the parent entity’s primary admin will have access to the shared COA as of right now, granular permissions are in the pipeline. For accountants, this trims intercompany friction and speeds consolidation.

REGISTER

ConnecTax 2025: Virtual workflow solution conference

From September 30–October 1, 2025, join us for the fast-paced, two-day virtual event focused on integrated workflows that streamline tax season and strengthen security—plus up to 5 free CPE credits. Sessions will cover optimizing your tech stack, mapping firm workflows, fortifying data security, staffing/AI best practices, and building connected workflows with Intuit tools, including QuickBooks Online Accountant, ProConnect Tax/Lacerte/ProSeries, Intuit Tax Advisor, eSignature, and Protection Plus. This is a can’t-miss event for preparers, advisors, and firm leaders looking to do more with less and create capacity.

🗣️ Quote of the week

The future of accounting is unfolding every day, and it’s being shaped by professionals like you who are exploring new ideas, testing what works, and finding better ways to support clients. Whether you’re growing your skill set, expanding your services, or simply staying curious about what’s next, we hope this issue gives you a few useful sparks.

We’ll be back next week with more insights, trends, and tools to help you keep moving forward—one step, one win, and one update at a time.