Crypto audit guidance, cautious confidence rebound, and PwC’s caregiving ROI

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 AI-enabled fraud risks, the IRS’s scramble to address staffing shortages, and the PCAOB’s delay of its new quality control standard. This week, we dive into new AICPA guidance for auditing crypto lending, the rebound in business confidence amid persistent inflation concerns, and how PwC’s caregiving benefits are reshaping retention and recruiting. Plus, we look at the PCAOB’s latest tech study, AI’s impact on entry-level skills, and the newest QuickBooks and ProConnect Tax innovations transforming firm workflows.

Let's dive in.

🔍 Top headlines

AICPA adds crypto lending and borrowing guidance to digital assets practice aid

The AICPA has updated its nonauthoritative practice aid, Accounting for and Auditing of Digital Assets, to include a new auditing chapter, “Considerations for Crypto Intangible Asset Lending and Borrowing.” The chapter outlines example substantive procedures to address risks of material misstatement in common crypto-lending arrangements, covering unsecured transactions and those requiring posted collateral, with procedures from the perspectives of both lender and borrower. 

As AICPA’s Di Krupica noted, auditors have had limited clear guidance in this area, so this update aims to sharpen risk assessment and execution, while promoting transparency for investors and companies. For firms serving crypto-active clients, this offers a concrete starting point for designing audit responses around existence/rights, collateral terms, and counterparty exposure across lending workflows.

Business executives’ confidence edges higher, but risks linger

The AICPA and CIMA’s Q3 2025 Economic Outlook Survey shows a modest rebound in sentiment: 34% of executives now feel optimistic about the US economy, up from 27% last quarter. Expansion plans also ticked upward, with 46% of companies expecting to grow over the next year, while revenue forecasts recovered to 1.5% after dipping to 1.0% in Q2. Profitability expectations also took a turn for the positive.

Even so, inflation and tariffs remain dominant headwinds. More than half (54%) of respondents anticipate a recession by the end of 2026, and 58% cite tariff volatility as a significant drag on planning. Executives report raising prices (30%), cutting costs (24%), and exploring supply chain alternatives (23%) as their main responses.

For firms advising businesses, the survey underscores a cautious but stabilizing outlook: Growth expectations are inching up, but clients remain preoccupied with inflationary pressures, policy uncertainty, and cost management.

PwC sees ROI as employees embrace expanded caregiving benefits

PwC reports a sharp uptick in the use of its expanded caregiving programs, with employees logging more than 8,000 back-up care days and drawing $5 million in reimbursements in FY25. The firm attributes the surge to a stronger internal push to raise awareness of benefits, from subsidized childcare and phased parental leave to flexible return-to-work options. Talent leader Kimberly Jones says the firm’s twice-yearly surveys and staff councils shaped the package, reinforcing that benefits have to evolve with employee needs rather than follow a one-size-fits-all approach.

The strategy is also paying dividends: PwC cites gains in tenure, satisfaction, and recruiting appeal, particularly among younger hires planning for future caregiving stages. With Prudential research showing only 52% of employers currently offer paid caregiving leave, PwC’s investment highlights how benefits aligned to real-life demands can support retention and differentiate firms in a competitive talent market.

💻Technology & innovation

PCAOB releases study on technology’s role in audit quality

The PCAOB has published two reports from its Technology Innovation Alliance Working Group, chaired by Board Member Christina Ho. The studies assess how emerging tools, particularly AI and structured data, are reshaping audit practices, and propose steps for regulators to foster responsible innovation. Recommendations include creating an Innovation Lab, enhancing auditor tech literacy, and embedding structured data in public company audits. While the documents reflect the views of the working group rather than the Board itself, they highlight how regulatory oversight may evolve to support technology-driven audit quality.

AI sparks debate over erosion of entry-level skills

As AI increasingly takes on tasks once handled by junior accountants, including reconciliations and data entry, firms are seeing efficiency gains, but also raising concerns about how new professionals will develop foundational skills. Leaders at Schellman, PwC, and KPMG caution that without early exposure, accountants may struggle to interpret and validate AI-driven outputs. Others say that what counts as “foundational” is simply shifting, with critical thinking and client interaction emerging earlier in careers. The debate highlights a key question: How can firms balance automation with training the next generation?

QuickBooks Online rolls out new features for accountants

Intuit has announced several September updates for QuickBooks Online, with a focus on efficiency and firm growth. The refreshed interface introduces customizable menus and time-saving automations, and all clients will transition to the new experience by October 1. Firms can also join the beta of Intuit Accountant Suite, an AI-powered platform designed to replace QuickBooks Online Accountant, and centralize client and team management. Other highlights include bulk uploading of custom client numbers, Bill Pay Basic included in all QuickBooks Online plans, and a new self-paced QuickBooks Payments course for ProAdvisors, which offers CPE credit.

ProConnect Tax integrates AI to boost compliance and advisory work

Intuit Accountants is rolling out AI-powered features in Intuit ProConnect Tax designed to cut manual data entry, streamline navigation, and enhance compliance reviews. New tools include intelligent data import that can save up to 30 minutes per return, predictive navigation that anticipates user workflows, and automated client briefings that generate personalized summaries from prior-year filings. An AI-driven review engine also flags potential errors, while Intuit Tax Advisor helps firms identify and model tax strategies. The goal is not to replace expertise, but to expand capacity, freeing tax accountants to focus on advisory services while strengthening accuracy and client trust.

🧠Practice management

Building stronger defenses against growing threats

Accounting firms face an increasingly complex threat landscape, from phishing emails and wire fraud attempts to insider risks and ransomware. AICPA data shows that breaches now cost an average of $4.88 million globally, underscoring the stakes. Smaller firms can be especially vulnerable because of outdated systems and limited IT resources. Experts stress the importance of a layered defense: role-based data access, multifactor authentication, timely software updates, and vendor due diligence, alongside robust backup and recovery plans. Equally critical is creating a security-first culture through practical training and leadership modeling.

Rethinking service models to build better CPA firms

CPA firms are reworking traditional compliance-heavy models to create year-round advisory relationships and more sustainable workloads. In Missouri, CRC shifted from a high-volume tax practice to a three-season advisory model, spreading client interactions across the year and turning the tax return into a byproduct of ongoing planning. Kansas-based Swindoll, Janzen, Hawk & Loyd pursued right-sizing, raising minimum fees and narrowing its client base to reduce hours while maintaining double-digit growth. Both firms show how thoughtful pricing, client segmentation, and experimentation with new service tiers can improve margins, enhance client engagement, and strengthen employee satisfaction without overextending staff.

Redefining the role of audit committee chairs

A new Deloitte report highlights how audit committee chairs at S&P 500 companies are adapting to expanded oversight responsibilities in an era of rapid change. Once focused narrowly on financial reporting, many audit committees now act as central risk oversight bodies, addressing cybersecurity, sustainability, and data privacy. Chairs stress the importance of continuous engagement with stakeholders, broader leadership experience beyond technical expertise, and fostering a culture of learning and curiosity. Modernizing processes through streamlined materials and emerging tools like AI can also strengthen agility. The role is shifting from steward of compliance to catalyst for forward-looking governance.

🏢 Firm news & mergers

Citrin Cooperman acquires ORBA to expand Midwest reach

Citrin Cooperman Advisors is set to acquire Chicago-based Ostrow Reisin Berk & Abrams (ORBA), adding 15 partners and more than 150 professionals across offices in Chicago and Oak Brook, Illinois, and Salt Lake City. The deal, expected to close in October, strengthens Citrin Cooperman’s presence in the Midwest and expands its capabilities in industries from manufacturing and real estate to sports and entertainment. ORBA, founded in 1977, is known for its high-touch client service and deep regional ties. Leaders from both firms emphasized cultural alignment and growth opportunities, and the move is a significant one as Citrin Cooperman continues its strategic expansion, having completed more than 30 acquisitions since 2019.

Smith + Howard enters Alabama with Horton Lee & Burnett acquisition

Atlanta-based Smith + Howard has acquired Birmingham firm Horton Lee & Burnett, marking its entry into Alabama and expanding its Southeastern US presence. Horton Lee & Burnett, founded in 1967, brings deep experience in industries such as real estate, healthcare, manufacturing, nonprofits, and automotive dealerships. The deal adds new regional depth to Smith + Howard’s $74.2 million practice, while aligning with its strategy of combining organic growth with targeted acquisitions. Leaders from both firms emphasized cultural alignment and client service continuity, with Horton Lee & Burnett transitioning to the Smith + Howard brand following the acquisition.

📅 Events, podcasts & webinars

WATCH

In the Know: New Payments Agent

The latest episode of In the Know looks at QuickBooks’ new Payments Agent, designed to help small businesses get paid faster with less manual work. The tool analyzes customer payment histories to recommend options such as PayPal or Venmo, drafts automated invoice reminders, and even suggests subject lines and email text to speed up the collection process. Accountants can view the feature directly in QuickBooks Online, making it easier to advise clients on cash flow strategies. The episode also previews how Payments Agent will integrate with Customer Agent to turn leads into estimates with a single click.

REGISTER

In the Know: Solutions Spotlight

Join Intuit Care leaders on September 25 for a brand new event, In the Know: Solutions Spotlight. This quarterly webinar will be a one-hour CPE session focused on advanced troubleshooting, Bill Pay setup, and productivity tips. Designed for ProAdvisors, the event offers practical strategies to optimize workflows and resolve common client challenges.

Intuit Connect 2025

From October 27–29, accountants and firm leaders will gather at Intuit Connect in Las Vegas to explore new technologies, earn up to 14 CPE credits, and connect with peers. The three-day premier event will feature keynotes from Brené Brown, Queen Latifah, and Intuit CEO Sasan Goodarzi, plus breakout sessions on AI, advisory services, M&A, and firm growth. Join us to foster connection, learn new tech, and power your growth.

🗣️ 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.