Intuit’s student challenge, a new CPA era, and Gen Z’s evolving workplace values

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 looked at alternative CPA licensure paths, retirement trends, and a strategic merger in Utah. This week, we explore the profession’s growing ties to financial education, a generational shift in workplace expectations, and the retirement of a long-standing AICPA leader. We’re also tracking new tools for client advisory work, modernized finance offerings, and firms making moves to stay competitive with data and AI.

Let’s dive in.

🔍 Top headlines

High schoolers get a head start in financial literacy

The winners of Intuit’s 2025 Hour of Finance Challenge were announced last week, showcasing five student teams that developed innovative solutions to everyday financial challenges. Backed by Intuit for Education, the program invites high schoolers to engage with topics like budgeting, credit, and saving through hands-on, tech-enabled projects. This year’s winners tackled everything from college savings to responsible spending using apps, AI tools, and educational campaigns.

The challenge reflects a broader push to embed financial literacy and entrepreneurial thinking into education earlier—something many in the accounting profession have long championed. As firms invest in future talent pipelines, initiatives like this one highlight the value of early exposure to financial systems and problem-solving.

It’s also a reminder: tomorrow’s clients and professionals are already thinking about money differently. Helping shape that journey through education, mentorship, or community involvement can position firms for deeper impact.

AICPA’s Carl Peterson to retire

Carl Peterson, vice president of small firm interests at the AICPA, has announced his retirement after more than a decade of service. Peterson has been a vocal advocate for smaller practices, ensuring their perspectives were heard amid conversations often dominated by larger firms. His work helped elevate the visibility of small firm challenges in areas like staffing, technology adoption, and regulatory change.

During his tenure, Peterson also worked to improve engagement between the AICPA and local practitioners, encouraging firms to modernize without losing sight of personalized service.

His departure marks the end of an era, and the beginning of a new chapter for small firm advocacy. As the profession continues to evolve, it’s a critical moment to reflect on how national leadership can support firms of all sizes and structures.

Gen Z and millennials want meaningful work, and less stress

Deloitte’s 2025 Gen Z and Millennial Survey reveals that younger professionals are rethinking what they want from work, and it’s not just about salary. Among the top priorities are flexibility, mental health support, and values-driven leadership. More than half of respondents say stress is a regular part of their job, and many feel their employers are falling short when it comes to well-being and work-life balance.

The findings carry big implications for accounting firms, which are already grappling with recruiting and retention challenges. Offering hybrid work options and better wellness programs may not be enough—today’s younger talent also expects purpose, autonomy, and opportunities for meaningful growth.

Firms that take these expectations seriously could gain a competitive edge, not just in hiring but in building resilient, future-ready teams.

💻 Technology & innovation

Client intelligence meets AI

Zocks and Commonwealth Financial Network are partnering to bring AI-powered client intelligence to affiliated advisors. The goal is to make personalization at scale a reality, surfacing insights that help firms deepen relationships and identify growth opportunities without overextending staff.

As firms strive to compete on experience and efficiency, client intelligence platforms like this can provide a notable competitive advantage. From recommending services to predicting client needs, AI tools can help advisors stay proactive and relevant.

It’s another step in the shift from reactive service to anticipatory strategy.

AI won’t replace accountants, but will change role expectations

In a recent interview, Jacob Schroeder, founder of Ascend Consulting and former Big Four consultant, shared a blunt take: AI won’t replace all accountants, but it will expose those who aren’t delivering real value.

He points to advisory work, judgment, and relationship-building as the areas where human professionals still have an edge. For firm leaders, it’s a clear call to invest in skills that go beyond data entry and routine tasks. As automation accelerates, those who lean into strategic thinking, creativity, and client counsel will stand out.

It’s not about resisting tech—it’s about redefining what makes your expertise indispensable and learning how to leverage artificial intelligence in accounting strategically. 

🧠 Practice management

Cherry Bekaert targets middle market with finance modernization play

Top-25 accounting firm Cherry Bekaert has rolled out a new solution focused on modernizing finance operations for mid-market clients. The offering blends cloud tech, workflow redesign, and strategic advisory—all aimed at helping CFOs move from tactical execution to forward-looking planning.

For firms looking to expand their role with clients, this is a clear model: combine operational insight with tech-savvy execution to help businesses scale smarter. As expectations for finance leaders evolve, so too must the support firms provide.

The takeaway? Modernization isn’t just about software—it’s about making finance functions more predictive, agile, and aligned with business goals.

50 modern firms that are redefining the field

Future Firm’s 2025 list of top modern accounting firms highlights those transforming how the profession operates, from pricing models to team structure. Common trends include fixed-fee and subscription billing, AI-assisted workflows, remote-first operations, and streamlined client onboarding through custom portals.

Firms like Acuity, Future Advisory, and Xen Accounting are recognized for combining strong brand presence with scalable systems and forward-thinking advisory. For traditional firms, the list offers a practical look at what’s working and how innovation can drive both growth and client satisfaction.

🏅 Featured accountants and firms

Small businesses are frequently waiting for payments

A new Intuit QuickBooks report reveals that 56% of US small businesses are owed money from unpaid invoices. The impact is significant: delayed cash flow limits their ability to invest, grow, or even stay afloat.

For accounting professionals, this reinforces the importance of offering robust accounts receivable (AR) systems, forecasting support, and client education around payment terms. It’s not just about getting paid—it’s about helping businesses stay resilient.

As more firms expand into advisory services, cash flow planning and AR automation present valuable ways to deepen client relationships.

How UHY tackled time and cash flow visibility

UHY’s latest case study breaks down how the top-30 firm improved forecasting and reduced manual work by integrating Clockwork with QuickBooks Online. The rollout enabled real-time dashboards, automated variance analysis, and clearer visibility into client cash flow, especially helpful for businesses navigating seasonal swings or delayed payments.

The result? Faster reporting, more strategic client conversations, and a more scalable advisory process. For firms expanding beyond compliance work, it's a strong example of how the right tools and team alignment can unlock deeper value.

📅 Events, podcasts & webinars 

WATCH

In the Know: Controlling team access in QuickBooks

In this episode of In the Know, Intuit QuickBooks walks through new tools for managing team access in QuickBooks Online. Learn how to control user permissions more precisely, ensure the right people see the right data, and improve oversight across client accounts. It’s a key update for firms juggling multiple team members or clients—and a step toward tighter, more secure workflows.

LISTEN

On the Books: Business development in a new era

In this episode of On the Books, Intuit QuickBooks dives into how business development is evolving for accounting professionals. The conversation explores new tactics firms are using to grow their client base, from strengthening relationships to leveraging data and digital channels. With client expectations shifting, the episode highlights how firms can adapt their growth strategies while staying rooted in trust and long-term value.

ATTEND

Power clients' businesses, not just their books

June 12, 8:00 PM — 9:00 PM CEST

Explore the next wave of client advisory services in this on-demand session. You’ll learn how to spot the right moments for tech upgrades and advisory input, and how to use AI-powered tools to help clients make better decisions.

APPLY

Partner Council applications now open

Applications are open for the 2025 Intuit Partner Council. If you’re a forward-thinking ProAdvisor with ideas to shape the future of accounting software, now’s your chance to make an impact.

🗣️ 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.