Donny Shimamoto, Author at CPA Trendlines

Transformation Talks: Scharrell Jackson: Lead with Diversity of Thought

Every smart leader knows to look for blind spots.

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Transformation Talks
With Donny Shimamoto
Center for Accounting Transformation

In the latest episode of Transformation Talks, renowned international speaker, leadership coach, and business consultant Scharrell Jackson emphasizes the pivotal role of Diversity, Equity, and Inclusion (DEI) in ensuring the sustainability of businesses across diverse industries. Jackson delves into the profound benefits of DEI, extending beyond business culture to impact recruiting and the overall bottom line.

MORE TRANSFORMATION TALKS: Harper & Co. CPAs: The Perspective of a Non-Accountant is Imperative | Menlo Innovations: Improve Office Culture by Overhauling Internal Reviews | Dustin Wheeler: For Serious CAS Success, Hire Tech Teams | Chase Birky: Overcoming Paralysis By Analysis |

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The discussion unveils a critical factor contributing to the failure of many organizations in implementing DEI initiatives – the lack of a clear definition of success. According to Jackson, organizations often struggle because they fail to articulate specific outcomes tied to business success. She advocates for a shift from merely increasing diversity percentages to a more focused approach, urging organizations to identify and commit to the desired outcomes.

ADVISORY & CONSULTING

Six Steps to Battle Cybersecurity Risks

What cost or time investment would you pay to protect your firm and your clients?

By Donny Shimamoto
Cybersecurity for Accountants

When it comes to cybersecurity, one risk aspect to consider is whether or not the steps you’ve taken to protect clients’ PII will stand up in court in the event of litigation related to a data breach or damages to a client because of a cybersecurity issue caused by your firm. During litigation, opposing counsel will often bring in cybersecurity experts to describe cybersecurity best practices—which are often a higher level of controls than just compliance.

MORE: Understanding the Full Cost of a Data Breach | The 7 Categories of of Cybersecurity Solutions Firms Need | Future Firm Growth Requires a Mindshift | Donny Shimamoto Explains How ‘Agile’ Applies to CPA Firms | AI, OCR, NLP & CPAs: Oh My! | Accounting Nerds, Unlock Your Super Powers | Early Adopters Gain an Edge in Audit | Dustin Wheeler: For Serious CAS Success, Hire Tech Teams | CSR for CPAs: The Missing Ingredient | Donny Shimamoto Explains How ‘Agile’ Applies to CPA Firms | Staff Retention for Remote Workers | Why the Future is in Risk Advisory | Ready for Non-CPA “CPA” Firms?
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Be sure to consult with both your cybersecurity advisor and legal counsel to determine which controls you may still want to implement even if you qualify for some of the exemptions. Many controls, like the ones identified in the FTC exception, do not cost much to implement and can demonstrate that you still fulfilled your professional obligation to protect clients’ data—reducing your litigation risk.

Harper & Co. CPAs: The Perspective of a Non-Accountant is Imperative

“The perspective of a non-accountant is imperative.”

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google, Spotify, iHeart, Deezer, Amazon Music and Audible, Player FM, Audacy, Gaana (India), and Boomplay (Africa).

Transformation Talks
With Donny Shimamoto
Center for Accounting Transformation

Glen Harper, CPA, says businesses should be willing to reinvent themselves and that diverse perspectives can be a valuable asset. The owner of Harper & Company CPAs should know: He’s had to embrace both philosophies to become successful.

MORE TRANSFORMATION TALKS: Menlo Innovations: Improve Office Culture by Overhauling Internal Reviews | Dustin Wheeler: For Serious CAS Success, Hire Tech Teams | Chase Birky: Overcoming Paralysis By Analysis | Dustin Verity: Keep an Open Mind and Constantly Learn | James Ross: CSR for CPAs: The Missing Ingredient | O.D. Lanier: Stepping Into Advisory | Mike Maksymiw: The Secret to Success? A Growth and Abundance Mindset | Paul Mueller: From Tax to Transformation

MORE PODCASTS & VIDEOS: CAS or CAAS? Getting Clarity | The Seller’s Guide to Getting the Best Price for Your Firm | Doing Nothing Is Not an Option | Why the Future Is in Risk Advisory | Fine-Tuning the Subscription Fee Model | Thinking Smart about New Tech: Byron Patrick | Blake Oliver: Why Tax Work Yearns To Be Free | Private Equity Explodes in U.K. | Brannon Poe: The Status Quo Must Go | Accounting Nerds, Unlock Your Super Powers | Private Equity vs. the CPA Firm Partnership The FinTech Flood: Accounting Will Never Be the Same | Think Small to Think Big with Matt Wilkinson | Your Sales Tax Headaches Are Only Just Beginning | When Financial Statements Go Extinct with Corey Schmidt | Can Geraldine Carter Save Accountants from Themselves? | Re-Inventing Accounting with Tyler Anderson | Turning Client Service into New Revenue | See all podcasts and videos here

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In a recent episode of Transformation Talks, Harper tells host Donny Shimamoto, CPA, CITP, CGMA, who is also the founder and managing director of Intraprise TechKnowlogies LLC and the founder of the Center for Accounting Transformation, that a good advisor can help you see your business from a different perspective and identify opportunities that you may have missed. He said after some self-reflection, he needed what his successful clients already had–a CEO.

Enter Julie Smith.

PRO Member Exclusive

How Much a Data Breach Will Cost You – Directly and Indirectly

For many, it could cost an entire business.

By Donny Shimamoto
Cybersecurity for Accountants

As quickly as the IRS detects cyber schemes, fraudsters come up with other attack vectors. Many are funded by rogue nation-states, so they have more resources available to them than we do.

MORE: Future Firm Growth Requires a Mindshift | AI, OCR, NLP & CPAs: Oh My! | Accounting Nerds, Unlock Your Super Powers | Early Adopters Gain an Edge in Audit | Dustin Wheeler: For Serious CAS Success, Hire Tech Teams | CSR for CPAs: The Missing Ingredient | Donny Shimamoto Explains How ‘Agile’ Applies to CPA Firms | Staff Retention for Remote Workers | Why the Future is in Risk Advisory | Ready for Non-CPA ‘CPA’ Firms?
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However, this doesn’t mean that you can give up and let them run rampant. Doing so leaves you vulnerable to litigation in the event of a data breach, and possible business disruption from ransomware.

CLIENT SERVICE OPPORTUNITIES

The 7 Categories of Cybersecurity Solutions Firms Need

How important are WISP and employee awareness? Just ask the IRS or the FTC.

By Donny Shimamoto, CPA, CITP, CGMA
On Cybersecurity for Accountants
Center for Accounting Transformation

Historically, finding cybersecurity solutions “right-sized” for the small and mid-sized business space was difficult. Most of the technologies were expensive and difficult to implement, and their price points weren’t reasonable for organizations with under 25 people. It’s only been within the last five years that we’ve seen solutions mature and evolve enough to be delivered via the cloud at a price point that makes sense for smaller organizations.

MORE: How Hacker-Proof is Your Firm? | Donny Shimamoto: Future Firm Growth Requires a Mindshift | AI, OCR, NLP & CPAs: Oh My! | Accounting Nerds, Unlock Your Super Powers | Early Adopters Gain an Edge in Audit | Dustin Wheeler: For Serious CAS Success, Hire Tech Teams | CSR for CPAs: The Missing Ingredient | Donny Shimamoto Explains How ‘Agile’ Applies to CPA Firms | Staff Retention for Remote Workers | Why the Future is in Risk Advisory | Ready for Non-CPA “CPA” Firms?
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To check if your policy addresses all of the requirements, take our Cybersecurity Compliance Self-Assessment for Tax Practitioners at: improvetheworld.net/CyberSelfAssessForTaxBook

With the COVID-19 pandemic and the adoption of remote work increased cybersecurity threats, the cybersecurity industry has stepped up and made solutions much more affordable and easier to implement. These solutions still require some technical knowledge to install, but there is much less maintenance, and they now make economic sense even for sole practitioners. READ MORE →

PRO Member Exclusive

Understanding the Full Cost of a Data Breach

Indirect costs often have a much greater impact—especially for smaller firms.

By Donny Shimamoto
Cybersecurity for Accountants

Generally, when there is unauthorized access to Personally Identifiable Information (PII), a data breach is considered to have happened. Originally PII was only defined as:

MORE: How Hacker-Proof Is Your Firm? | Unleashing the Power of Technology: Transforming Accountants into Trusted Advisors | Future Firm Growth Requires a Mindshift | AI, OCR, NLP & CPAs: Oh My! | Accounting Nerds, Unlock Your Super Powers | Early Adopters Gain an Edge in Audit | Dustin Wheeler: For Serious CAS Success, Hire Tech Teams | CSR for CPAs: The Missing Ingredient | Donny Shimamoto Explains How ‘Agile’ Applies to CPA Firms | Staff Retention for Remote Workers | Why the Future is in Risk Advisory | Ready for Non-CPA “CPA” Firms?
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A first name or initial and last name, along with:
- Social Security Number (SSN)
- Driver’s license number
- Credit or debit card number
- Financial account number with access code (e.g., a bank account number and pin)
Personal Health Information (also known as PHI)

However, due to the increasing sensitivity of the public to privacy concerns and resulting legislative actions, the following is also often considered to be part of PII: [i]

ADVISORY & CONSULTING

Adrian Hong: Necessity Can Make You an Expert

Innovation Insights: Trial by fire may not be fun, but it can make you a pro.

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Innovation Insights
With Donny Shimamoto
Center for Accounting Transformation

Adrian Hong’s journey into the realm of environmental, social, and governmental (ESG) reporting has been nothing short of inspiring. As the founder of Hong Consulting, LLC, his dedication to assisting companies with ESG reporting stems from a rich tapestry of experiences, all pointing to one common thread – the desire to help.

MORE: Blake Oliver: Why Tax Work Yearns To Be Free |Private Equity Explodes in U.K. | Brannon Poe: The Status Quo Must Go | Accounting Nerds, Unlock Your Super Powers | Private Equity vs. the CPA Firm Partnership The FinTech Flood: Accounting Will Never Be the Same | Think Small to Think Big with Matt Wilkinson | Your Sales Tax Headaches Are Only Just Beginning | When Financial Statements Go Extinct with Corey Schmidt | Can Geraldine Carter Save Accountants from Themselves? | Re-Inventing Accounting with Tyler Anderson | Turning Client Service into New Revenue

SEE ALSO: Deloitte Develops Audit Technology for Smaller Firms

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After building a formidable reputation in auditing within public accounting and lending his skills to the Financial Accounting Standards Board for refining external taxonomy, life had other plans. Hong returned to his roots in Hawaii to steer the helm of his family’s venture, Island Plastic Bags.

PRO Member Exclusive

IRS and FTC Cybersecurity Expectations of Tax Practitioners

Your tools for a cybersecurity compliance check-up.

By Donny Shimamoto
Cybersecurity for Accountants

In August 2019, the IRS published its list of “Security Six” steps to protect taxpayer information.[i] These described the six “basic protections” that it expects tax prepares to utilize.

MORE: How Hacker-Proof Is Your Firm? | Unleashing the Power of Technology: Transforming Accountants into Trusted Advisors | Future Firm Growth Requires a Mindshift | AI, OCR, NLP & CPAs: Oh My! | Accounting Nerds, Unlock Your Super Powers | Early Adopters Gain an Edge in Audit | Dustin Wheeler: For Serious CAS Success, Hire Tech Teams | CSR for CPAs: The Missing Ingredient | Donny Shimamoto Explains How ‘Agile’ Applies to CPA Firms | Staff Retention for Remote Workers | Why the Future is in Risk Advisory | Ready for Non-CPA “CPA” Firms?
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These include:

Donny Shimamoto

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Donny C. Shimamoto, CPA.CITP, CGMA, is the founder and managing director of IntrapriseTechKnowlogies LLC, a specialized CPA firm dedicated to helping small businesses and middle market organizations leverage strategic technologies, proactively manage their business and technical risks, and enable balanced organizational growth and development. Donny also works with larger organizations as a trusted business advisor, facilitating organizational strategic planning and execution, IT governance and planning, enterprise architecture, information architecture and assurance, business process improvement, and business intelligence initiatives.

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As the founder of The Center for Accounting Transformation, Shimamoto is leading a movement to change the world for the better by empowering and equipping accountants with the leading-edge tools and techniques.

Donny was the first Certified Information Technology Professional (CPA.CITP) in the State of Hawaii and is one of only four in the state. The CITP credential is a specialty designation of the American Institute of Certified Public Accountants (AICPA), that identifies Certified Public Accountants (CPAs) with the unique ability to bridge between business and technology; meeting the strict requirements for a CPA license as well as additional training and experience in technology strategic planning, IT architecture, business process enablement, system development and acquisition, IT audit and control, and IT governance.

The immediate past chairman of the AICPA’s IMTA Executive Committee, Donny has been both influential and critical in several AICPA initiatives including the development of an IT Competency Model for CPAs, and redesign of the CITP Credential. Donny previously co-chaired the AICPA’s Business Intelligence Working Group, researching and creating practice aids in the area of Evidence-based Management, Application & Data Integration, and Information Assurance. Donny has also been involved in the authoring of guidance published by the AICPA on IT Considerations for Risk-Based Auditing and Enterprise Business Intelligence. As a subject matter expert, Donny is often an invited speaker at national and international webinars and a familiar key-note speaker at national-level conferences.

Donny obtained invaluable knowledge and exposure to a wide range of industries and sectors (retail, hospitality, state government, defense, and higher education) while earning his CPA license as a member of PricewaterhouseCoopers LLP's Business Assurance Services, Operational & Systems Risk Management Services, and Management Consulting Services lines of business. With ITK he has expanded his industry expertise to include not-for-profit (social services, foundations, and membership organizations), professional services, small businesses, technology, and mobile professionals.

Here’s what you’re looking for: Donny Shimamoto

Every smart leader knows to look for blind spots.

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google, Spotify, iHeart, Deezer, Amazon Music and Audible, Player FM, Audacy, Gaana (India), and Boomplay (Africa).

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google, Spotify, iHeart, Deezer, Amazon Music and Audible, Player FM, Audacy, Gaana (India), and Boomplay (Africa).

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google, Spotify, iHeart, Deezer, Amazon Music and Audible, Player FM, Audacy, Gaana (India), and Boomplay (Africa).