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STCC Student Awarded Scholarship from Massachusetts Society of CPAs

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Daily News

BOSTON — The Massachusetts Society of Certified Public Accountants (MassCPAs) announced that Anais Jones was awarded the Lisa Russell, CPA, Memorial Scholarship through the MassCPAs Educational Foundation’s 2026 Scholarship Program.

Jones, a student at Springfield Technical Community College (STCC), was one of 50 students selected to receive a scholarship. The students were honored for their awards at MassCPAs’ annual, member-wide networking event, Connect 2026, on May 13.

“It’s truly inspiring to see the talent and drive of this year’s scholarship winners,” said Zach Donah, president and CEO of MassCPAs. “Their commitment to excellence gives us great confidence that the accounting profession in Massachusetts will continue to thrive under their leadership. We are honored to play a role in their success and extend our deepest gratitude to the donors and volunteers who make this investment in our future possible.”

Scholarships are funded 100% through donations to the MassCPAs Educational Foundation. The mission of the foundation is to inspire and support the next generation of CPAs in Massachusetts. Since the program’s inception in 2006, the foundation has awarded 500 scholarships to aspiring CPAs, ranging from $1,000 to $10,000 and totaling more than $2.25 million. MassCPAs scholarships are available for both undergraduate and graduate accounting students who are attending a college or university in Massachusetts or attending a college or university out-of-state with a permanent residence in Massachusetts. Scholarship funds are issued directly to the students and can be used for tuition, books, interviewing expenses, or other needs.

“Empowering students through these scholarships is at the heart of our mission to build a robust and resilient accounting workforce,” said Allie Orlando, director of Academic and Career Development at MassCPAs. “We are thrilled to celebrate this year’s recipients and look forward to seeing the significant contributions they will make to the profession.”

MassCPAs Report Highlights Strategic Shift in Accounting Profession

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Daily News

BOSTON — The Massachusetts Society of Certified Public Accountants (MassCPAs) has released its 2026 Firm Insights Report, offering a data-driven look at the forces reshaping accounting firms across New England and what they mean for the future of the profession.

Based on input from more than 200 firm leaders at the 2025 New England Practice Management Conference, combined with national research, the report identifies a clear shift in priorities as firms move beyond short-term staffing challenges and focus on long-term capability, technology, and sustainability.

Among the key findings, keeping up and investing in technology is now the top issue for firm leaders, surpassing recruiting talent; recruiting and retention pressures have eased year-over-year, while skill development pressures have doubled since 2024; regulatory uncertainty and tax complexity is rising significantly, adding pressure on firm capacity and expertise; traditional staffing and governance models are showing strain as firms rethink what it means to be partner-ready and structurally sustainable; and advisory services, particularly tax strategy and planning, remain the leading area for growth at 37% of firms.

“The findings show that the profession is entering a different phase of change,” said Zach Donah, president and CEO of MassCPAs. “Firms are not just dealing with hiring pressures anymore. They are working through deeper questions about skills, structure, and how work gets done. Understanding these shifts is critical because they directly impact how firms develop talent, serve clients, and remain competitive across the region.”

The report identifies a growing shift from a talent shortage to a capability challenge as firms struggle to find professionals with the judgment, communication, and analytical skills needed for advisory-driven work. At the same time, AI is becoming embedded in firm operations, driving changes in hiring, workflows, and service delivery.

Firms are also rethinking traditional model structures. As automation reduces entry-level work and raises expectations for earlier contribution, many are exploring new approaches to leadership development, career paths, and governance to support retention and long-term growth.

MassCPAs Report Helps Finance Teams Navigate Complex Technology Decisions

By
Daily News

BOSTON — The Massachusetts Society of Certified Public Accountants (MassCPAs), in partnership with CPA Crossings, has released “2026 Corporate Finance Technology Selection: Practical Frameworks for Vendor Evaluation and Implementation, a report that provides mid-market finance teams with practical, vendor-neutral tools to evaluate and implement modern finance technologies in an increasingly complex and AI-driven environment.

As finance teams face tighter close timelines, increased audit scrutiny, and a growing number of technology options, the report helps organizations make informed decisions without the need for large IT departments or consulting budgets. Developed with input from industry practitioners, the report highlights several key insights:

• AI confusion is leading to unnecessary costs. The report distinguishes between rule-based automation, machine learning, generative AI, and agentic AI. These categories are often blurred in the market, leading firms to pay for capabilities that may not match their needs.

• Total cost is significantly higher than expected. Software licensing typically represents only 20% to 30% of total ownership cost. For a $50 million manufacturer, five-year costs can reach $4.6 million when factoring in implementation, integration, data migration, internal labor, and training. The report recommends adding a 15% to 20% contingency to vendor estimates.

• Data quality determines success. AI tools depend on clean, structured data. The report outlines four readiness benchmarks, including high coding accuracy, low duplicate rates, strong field completion, and sufficient historical data. Without these, results may be unreliable.

• Governance gaps create audit risk. Common issues such as excessive user access and unmonitored controls often surface during audits. The report emphasizes building governance into implementation from the start.

The report also outlines immediate steps finance teams can take, including establishing baseline metrics, building five-year cost models, assessing data readiness, and defining control requirements before vendor selection.

“Throughout New England and across the profession, finance leaders are being asked to modernize quickly while also managing risk, cost, and uncertainty, “ said Zach Donah, president and CEO of MassCPAs. “As the role of the CFO and finance and accounting teams continues to evolve from financial steward to strategic advisor, this report gives them a practical way to evaluate options, avoid costly missteps, and make decisions that hold up under scrutiny while position their organizations for long-term success. It also reflects our broader commitment to equipping the profession with the insight and tools needed to navigate what’s next.”

Additional resources include a vendor evaluation scorecard, a four-phase implementation roadmap, and industry-specific guidance for manufacturing, distribution, SaaS, and professional services. The executive summary and full report are available at masscpas.org/corpfintech26.