AICPA Introduces Strategy Planning Toolkit for Accounting Firms

The American Institute of CPAs (AICPA) representing AICPA & CIMA has released the PCPS Strategy Planning Toolkit, a resource designed to assist accounting firms in business model transformation. Developed by the AICPA’s Private Companies Practice Section (PCPS), this comprehensive toolkit empowers firms of all sizes to create a shared vision for the future of their organizations. The PCPS Strategy Planning Toolkit is free for a limited time. 

In today’s rapidly evolving accounting profession, firms must adapt to stay ahead of the curve. The PCPS Strategy Planning Toolkit serves as a crucial step towards transformative change, providing accounting professionals with a framework to develop strategic plans that drive success and growth.

“The PCPS Strategic Planning Toolkit equips firm leaders with resources and support as they take the steps they need to embark on a transformative journey,” said Lisa Simpson, CPA, CGMA, Vice President of Firm Services at the AICPA. “It offers a structured approach to strategic planning, enabling firms to define their vision, set priorities, and achieve their business objectives based on an understanding of the trends impacting the accounting profession now and those on the horizon. We’re excited to offer access to a proven strategic planning process that has been used by hundreds of firms and organizations in a new way, empowering leaders to design a strategy that sets them up for success in a fast-changing environment”

The PCPS Strategy Planning Toolkit guides firms through a series of carefully crafted steps designed to foster strategic conversations, encourage innovative thinking, and enable collective decision-making. Instructional videos guide teams through evaluating the current position of a firm, how the organization got where it is, and a pathway that makes sense moving forward into business transformation. Teams can then visualize this pathway via interactive and customizable chart creation.

This methodology provides a deliberate sequence of exercises that require disciplined and rigorous thinking from the group. It has been used by organizations of all sizes to create meaningful, actionable and inspiring plans.

Supporting documents provide suggestions for how to maximize benefits of the toolkit. Key best practices include:

• Inform, excite, empower and involve all participants in the planning process to ensure engagement and strategic thinking;
• Foster an environment that encourages open and curious conversations, where participants can explore ideas, ask meaningful questions, and broaden their thinking; and,
• Trust the proven process outlined in the toolkit, which has been successfully deployed by organizations of all sizes to create inspiring and actionable plans.

To get started with the PCPS Strategy Planning Toolkit, firms are advised to review the Guide to Using the PCPS Strategic Planning Toolkit, which provides detailed information on preparation, setup, and facilitation. The toolkit also includes the timing, materials and results for each section, offering step-by-step instructions and expected outcomes. Furthermore, the sample agenda assists firms in managing their strategic planning session efficiently and effectively.

The PCPS Strategy Planning Toolkit is part of a larger AICPA commitment to helping firms achieve their business transformation goals. As the premier professional organization for CPAs, the AICPA is dedicated to providing resources, networking opportunities and a collective voice within the profession.

“PCPS, with the input and direction of its volunteer executive committee, recognizes the challenges faced by accounting firms in serving their clients and still finding time to manage their practices,” Simpson added. “The turnkey resources PCPS provides will help firms of all sizes, including small firms who may not have the capacity to otherwise engage in a thoughtful strategic planning process.”

To learn more about the PCPS Strategy Planning Toolkit, visit the AICPA & CIMA Transforming Your Business Model resource page.