Your Profession: A Community Worth Renewing

Your Profession

July 2026

The Official Publication of the Hawaii Society of Certified Public Accountants

Officers

President Trisha Nomura

President-elect Adrian Hong

Vice President Chantal Mentzer

Secretary/Treasurer Chad Funasaki

Assistant Secretary Ryan Suekawa

Directors * 2026-2028

Grayson Nose

Norman Okimoto

Joel Peralto (Hilo)

Directors * 2025-2027

Ronald Heller

Jill Ishimitsu

Ed Nakano

Darryl Nitta

Natalie Taniguchi

Immediate Past President

Frank Kudo

AICPA Council

Frank Kudo (Designated)

Darryl Nitta (Elected)

Trisha Nomura (At-Large)

Executive Director

Kathy Castillo

Administrative Assistant

Debbie Cortes

Hawaii Society of CPAs

1000 Bishop Street, Suite 802

P.O. Box 1754

Honolulu, HI 96806

Tel: (808) 537-9475

E-mail: info@hscpa.org

Web: www.hscpa.org

This publication is designed to provide general information only, and should not be used as a substitute for professional advice. The authors and editors disclaim any liability for any loss or damage resulting from the use of any information or advice herein. Although a reasonable attempt has been made to be accurate, neither the HSCPA nor the authors and editors can guarantee that all information contained herein is correct as of the date of publication.

KALA (the Hawaiian word for money) is published periodically and is the official publication of the Hawai’i Society of Certified Public Accountants. Please direct all inquiries regarding editorial content to HSCPA, P.O. Box 1754, Honolulu, Hawai’i 96806.

President’s Message . . . . .

. . . By Trisha Nomura

Social Security Survivor Benefits for Children . . . . . . . . . . .

Report Potential Claims as Early as Possible

Now You See It By Tom Yamachika

C O R E Connect

2026 - 2027

Leadership

Y-CPA Buzz: More Than CPE Reflections from ENGAGE By David Saito

Annual Meeting: Elect & Engage Highlights .

Norman’s Book Review .

Shaping the Future: A Vision for Hawaii’s Accounting Profession By Donny Shimamoto 4 6 7 8 9 10 12 14 16 18

AsI begin my first month as President of the Hawaii Society of CPAs (HSCPA), I am truly honored to serve in this role and to help lead an organization that plays such an important role in our state I step into this two-year term with humility, optimism, and a deep sense of responsibility to our members and to the public we serve. As Tim Christen, the 103 Chair of the American Institute of CPAs, often said, “It’s a great day to be a CPA!” That spirit of pride and purpose reflects how I feel as I begin this journey. Across our islands, our members bring expertise and integrity to every sector they touch, and I am proud to be part of a profession that contributes so much to Hawaii’s economy, communities, and future

One thing that has always stood out to me is how important connection is to the strength of our organization The HSCPA is strongest when all members feel seen, heard, and included That is true whether they work in public accounting, private industry, government, education, or nonprofit organizations, and whether they are based on Oahu or one of our neighbor islands.

During the fall, one of my goals is to visit the Big Island, Maui, and Kauai to meet with members in person and “talk story” - hear their

perspectives and better understand the opportunities and challenges they are facing Those conversations will help us stay connected and ensure that our programs and priorities continue to serve members across the state in meaningful ways I also hope these visits will create opportunities to meet with students. Sharing our stories can make a real difference in helping high school students understand our profession and the many opportunities it offers. Please be on the lookout for more information on these visits in the months to come.

One of the best ways for members to stay engaged with the HSCPA is by joining a committee

The Technology Advocacy Committee, led by Donny Shimamoto, focuses on identifying and creating opportunities to strengthen technological capabilities, stay ahead of trends, and address ITrelated risks shaping our profession. The Taxation Committee, led by Kurt Kawafuchi, provides a forum for discussion around federal, state, and local tax issues, as well as best practices in tax

administration and management

The Young Professionals Committee, led by Adrian Hong, brings members together to support student outreach, connect with other professionals, and participate in community service projects. As you renew your dues this month, I encourage you to consider taking the next step by joining one of these committees through the website or contact the HSCPA office.

In the spring, a project I am especially excited about is the launch of a college and career exploration program - C.O.R.E. Connect - for high school students

As a profession, we often talk about the future pipeline of talent, but that future starts long before students choose a college major or career path We have a real opportunity to introduce young people to leadership, financial literacy, and the many possibilities within the accounting profession at an earlier stage. This program could help students build

confidence, discover their strengths, and see how business and accounting skills can make a meaningful difference in the world around them Just as importantly, it could help them see themselves as future leaders in their schools, their communities, and perhaps one day in our profession.

If you are interested in supporting this effort, please reach out to the HSCPA office. We would love to have as many members and firms involved as possible!

Visiting members across the islands, staying connected as an organization, and investing in

student leadership are all rooted in the same belief: our profession thrives when we build relationships and create opportunities for others The work of a CPA goes beyond numbers It is grounded in trust, stewardship, problem-solving, and helping organizations and individuals make sound decisions.

Those values matter in boardrooms and small businesses, in government offices and familyowned companies, and just as much when we mentor the next generation. If we want a strong future for the profession in Hawaii, we must continue to support one another while also creating pathways for those who will follow us

As I look ahead to the months and years to come, I feel encouraged by what we can accomplish together I know that no presidency is shaped by one person alone It is built on the hard work of those who came before us and on the ideas, commitment, and generosity of members who continue to share their time, experience, and passion for the profession I hope to hear from many of you during this term, whether through neighbor island visits, HSCPA events, or conversations about how we can better serve our members and our communities.

Thank you for the warm welcome you have already extended to me. I look forward to learning from you, working alongside you, and building on the strong foundation of the HSCPA as we move forward together

Losing a parent is one of the most difficult experiences a child can face. Along with the emotional challenges, families often must navigate new financial realities Many Americans don’t realize that the Social Security Administration (SSA) can help support children who have lost a parent by providing monthly Survivor benefits.

Who is eligible for Survivor benefits?

If a child loses a parent who worked and paid into Social Security, that child may be eligible for monthly Survivor benefits These benefits aren’t just for biological children, they can also be paid to stepchildren, adopted children, grandchildren, and step-grandchildren under certain circumstances. In most cases, these benefits continue until the child turns 18 or graduates from high school, whichever comes later Additionally, adults who became disabled before age 22 may be eligible for childhood Survivor benefits at any age.

Why are Survivor benefits important?

The death of a parent can have a lasting impact on a child’s emotional well-being, academic performance, and financial stability Survivor benefits are designed to help ease the financial burden during this challenging time, providing a measure of security and support for the child’s future

How to apply for Survivor benefits

Applying for Survivor benefits is not something you can do online. Instead, you’ll need to call us or visit your local Social Security office in person

To set up an appointment, call 1-800-772-1213 (TTY: 1-800-325-0778) between 8:00 a m and 7:00 p m , Monday through Friday Wait times are usually shorter early in the day (before 10 a m ), later in the afternoon (after 4 p.m.), or later in the week (Wednesday to Friday). Most appointments can be scheduled within 30 to 60 days.

When you call, have the Social Security number (SSN) of the parent who passed away ready. The representative will let you know what other information you’ll need for your appointment

It’s important to contact us as soon as possible after a parent’s death The date you reach out can affect when the child’s benefits will begin, so don’t delay

For more information about Social Security Survivor benefits for children, visit www.ssa.gov/survivor and review our publication, Benefits for Children at www.ssa.gov/pubs/EN-05-10085.pdf.

REPORT POTENTIAL CLAIMS as Early as Possible

are often so busy that they don’t recognize or acknowledge a potential claim as it is developing This can be particularly devastating when the damages claimed are significant and are not covered because of late reporting. It’s important to pay attention to potential issues and to report them as soon as there may be a problem.

follow-up documentation, are crucial in managing potentially major problems The more tools and resources an insurance program provides its policyholders, the better policyholders will be at avoiding or minimizing problems and disputes.

Early reporting will help assure coverage for the potential claim, and the firm may receive additional included benefits It is also critical to avoid admitting liability, assuming damages, voluntarily making any payments, or incurring claims expenses without the prior written consent of the insurance company. Policyholders should not take action without first receiving guidance from a risk advisor with the insurance company.

By utilizing your insurance program’s advisory, loss prevention and risk-management services, a CPA firm can better manage the risks that lead to claims Some of the basic riskmanagement tools, such as client screening, engagement letters and

Managing CPA liability risk exposures is a complex process, and it’s easy to underestimate the potential for risk along the way. The CPA firm should always feel comfortable about contacting its agent and liability carrier and asking questions about any matters, regardless of how small they may appear to be

CAMICO encourages CPAs to contact the company in a variety of ways. For example, a 50 percent reduction in the deductible, up to $50,000, is provided for the early reporting of a potential claim during the policy period in which it becomes

known Further, if it is determined that it is appropriate to retain legal counsel to assist with a preclaim situation, CAMICO will absorb the legal expenses, help policyholders achieve a resolution with the client, prepare a tax penalty abatement request, draft talking points for communicating the facts of the situation with the client, and provide subpoena and other consultation services if the need arises In the event a potential claim is not timely reported by the insured, CAMICO’s “continuity of coverage for potential claims” helps eliminate coverage gaps for potential claims known to an insured and not timely reported by the insured, while coverage is consecutively renewed with CAMICO. However, the 50 percent deductible reduction for early reporting would not apply.

The information provided is a general overview and not intended to be a complete description of all applicable terms and conditions of coverage Actual coverages and risk management services and resources may vary and are subject to policy provisions as issued. Coverage and risk management services may vary and are provided by CAMICO and/or through its partners and subsidiaries

Now

you see it, now you don’t

There’s no magic involved here, only taxes Taxes you can see, and taxes you can’t.

The taxes you can see are things like income tax, which gets taken out of your paycheck, and general excise tax, which you can see on your receipt whenever you go to the store

There are also lots of taxes you don’t see

One tax that lawmakers love playing around with is called the barrel tax. It gets paid whenever fossil fuels are imported into the State. We previously wrote about its history here The tax is paid at the wholesale level, so retail customers almost never see a line item on their bills for this tax Yet it does get baked into the retail prices not only at the gas station, but also for electricity (because a lot of our electricity is generated by burning bunker fuel), charges for transportation (think trucking and delivery services, because the service providers use vehicles), and charges for all kinds of tangible goods (they need to get to the stores somehow)

For the past several years, there have been proposals in the

TFHisthe ‘watchdog’ forHawaiitaxpayers’ money Tosupport TFH’smission,please donatehere.

legislature to convert the barrel tax into a carbon tax Here’s some further information on that proposal The carbon tax proposals we have been seeing would be much more expensive than the barrel tax it would replace.

Our GET, furthermore, is not completely visible There are some very large hidden components For example, when a retail store buys its inventory, it pays a supplier If the supplier is local, another GET is imposed, this time at 0.5%. If the supplier is out of state, then the same 0 5% tax gets imposed as Use Tax, which the retailer has to pay These taxes get paid by or are passed on to the retailer, and the retailer adds that in to the price of the goods.

Another hidden component is the tax on business-to-business charges If the retailer doesn’t own the land on which its store sits, the retailer needs to pay rent GET is charged on the rent, and it’s not at the wholesale rate but at the full 4.5% rate. (And if the retailer does

own the land, it needs to pay county real property tax, probably at a commercial rate that is a lot more expensive than the residential rate real property tax that most of us are used to ) Does the retailer need help from a CPA firm to keep its books? GET at 4.5% applies to those charges as well. Does the retailer need power to keep the lights on, run the registers, keep the frozen food frozen? GET isn’t imposed on that instead, a more expensive tax called the Public Service Company Tax kicks in. The PSC tax has a state component of 4%, similar to the GET, but also there is a county component of between 1 885% and 4 2% depending on how profitable the public utility is

The state, furthermore, has no monopoly on business-to-business taxation. Our federal government contributes to higher prices by imposing taxes of its own, such as fuel taxes, transportation excise taxes, communications taxes, environmental taxes, and manufacturer’s taxes on a number of different articles.

So, what’s the bottom line here? Open up your wallet.

Do you see money inside?

Now you see it, now you don’t.

Invest Contribute Volunteer Support Champion

A special program for high school students to spark curiosity, build confidence, and explore the world of business and accounting. Help us shape the next generation of Hawaii’s professionals. Your support - whether through volunteering, mentoring, or simply championing the programcreates meaningful opportunities for students who are just beginning to imagine their future.

If you believe in strengthening Hawaii’s workforce and investing in tomorrow’s leaders, C.O.R.E. is a powerful place to start.

Contact the HSCPA at info@hscpa.org.

Hawaii Practices for Sale

Hilo CPA Practice - $703K gross revenue. Revenue is nicely mixed between profitable tax (43%), accounting/ bookkeeping (36%), and payroll (22%). Turn-key opportunity ideal for an experienced CPA. For more information, please call 1-800-397-0249 or visit www.APS.net to see listing details and register for free email updates.

Thinking of Selling Your Practice? Accounting

Practice Sales is the leading marketer of accounting and tax practices in the world. We have a large pool of buyers looking for practices as well as the experience to help you find the right fit for your firm and negotiate the best price and terms To learn more about our risk-free and confidential services, call Ryan Pannell with The Holmes Group at 1-800397-0249 or email Ryan@apsholmesgroup com

clients measure and report

on their sustainability Hong

Consulting also educates accountants and

other professionals on ESG matters to help

them build vital skillsets for the future His

previous work experience includes being an

auditor at Berntson Porter, an XBRL Project

Research Associate at the Financial Accounting

Standards Board, an instructor at U

Hawaii – West Oahu, and president

Plastic Bags, Inc , a family-owned

manufacturing business based in H

Adrian is an active member of the Hawaii

Society of Certified Public Accountants

(HSCPA) where he performs outreach to high

school and college students and participates in

community service projects

p j q p p

utilized his GI Bill to continue his education at

UH Manoa and received his Accounting degree

He was employed as an Auditor and Tax

Specialist at Coopers & Lybrand for 6 years. An

Honorary member of the AICPA since 1974, Ed

maintains his PTP to hold the CPA and CGMA

designations Ed’s family includes 2 daughters

who are accountants with MBAs, one who is

also a CPA (not in public practice)

Darryl Nitta

Darryl is a Principal with Accuity

Advisors LLC He enj

providing tax service

businesses and high

individuals Darryl has a Master of Bu

Administration degree from Hawaii P

and his wife Val started their accounting firm,

Peralto & Co., CPAs, Inc. He retired from

teaching full-time in 2016, but his love for

accounting drew him back to teaching at

Hawaii Community College and he continues to also work in the family firm with culturallyfocused nonprofit organizations Joel also served on the Hawaii Board of Public

Accountancy from 2010-2014 He has been involved in youth sports and athletics as a coach and official from 1993 through 2024, a 30-year span Many young accountants in the big island community, including the young CPA being groomed to take over the family practice, got their first glimpse of accounting as a professional career choice as a result of Joel’s tutelage as an accounting professor in the UHCC system

Natalie Taniguchi

Natalie joined American Savings Bank in January, 2002 and is Executive Vice President – Chief Risk Officer She oversees the Enterprise Risk Management, Sarbanes Oxley, Information Security, Business Continuity, Project Management, Compliance, Fraud, Data Governance, Model Risk Management, and Third-Party Relationships programs Under her direction, the Enterprise Risk Management Program provides a framework to identify, manage, mitigate and report on key risks impacting ASB’s business Natalie is the primary liaison with the bank’s regulators

Previously, she served as Financial Vice

President and Treasurer for HEI Power Corp , a subsidiary of Hawaiian Electric Industries, Inc

(HEI), as the Corporate Finance and Investments Director for HEI and as Senior

Auditor at what is now known as

PricewaterhouseCoopers. Natalie holds a Bachelor’s of Business Administration in Accounting from the University of Hawaii at Manoa and is a member of the American

Institute of Certified Public Accountants and the Hawaii Society of Certified Public

Accountants and is the Co-Chair of the Pa’ani Challenge

By David Saito

More Than CPE . . . Reflections from

writing this at Harry Reid International Airport, on my way home after a long week at AICPA ENGAGE 2026 in Las Vegas, one of the largest gatherings of accounting and finance professionals in the country More than 4,000 of us in public accounting, business and industry, educators and other thought leaders came together to discuss emerging issues and where the profession is headed.

This year’s conference started with Clara Shih, former top AI executive at Salesforce and Meta, and a joint presentation from entrepreneur and actor Ryan Reynolds, and longtime Costco CFO Richard Galanti As a fan of the Deadpool movies and $1 50 hotdogs, I couldn’t be more excited

Reynolds and Galanti were an unexpected but fun pairing, having collaborated on a commercial in the past. They discussed business, leadership, and failure and Reynolds was funny and engaging as expected, but one comment that stuck out to me was that “good things happen when you’re willing to suck.” While he was talking about creative work, the message applies just as well in avoiding the trap of perfectionism in our professional and personal lives.

Galanti shared lessons from Costco’s long-standing commitment to its core principles and what he called “arrogant simplicity” In an environment where everyone is

chasing the next trend, Costco’s success came from staying focused on delivering value to their customers. Together, they struck an interesting balance between innovation and discipline.

Between the sessions, jampacked exhibit hall, and countless networking, one theme kept popping up everywhere: our world is changing quickly with the advances of AI technology, and we as accountants are being asked to play a bigger role in helping organizations and society navigate that change. It showed up in nearly every track, from TECH+ and Practitioners to Advanced Accounting & Auditing and Corporate Finance, with discussions ranging from practical applications to risk management and governance.

in those sessions William M Washington III, Global CFO at Baker McKenzie, opened our track with a discussion on leadership and career development. He shared lessons from his own journey, the qualities he looks for in finance leaders and how he approaches leadership as an introvert The accounting profession is filled with introverts, like myself, so many of us in the room appreciated his unique perspective. He spoke about being “intensely intentional” in how he leads, manages his energy, builds relationships and declines work dinners His message was simple: authenticity matters

As a member of the Corporate Finance & Controllers planning committee, I spent much of my time

I also had the opportunity to moderate a session presented by our very own Donny Shimamoto. As mentioned, AI was a dominant topic throughout the week and Donny’s presentation focused on something near and dear to our hearts: governance Rather than focusing on the benefits of the latest tools, he challenged us to think about how organizations can adopt AI responsibly and ensure that our investments in this technology can support broader business objectives It is always great seeing one of us on the national stage, sharing our manaʻo and helping influence discussions that affect the future of the profession.

Some of the most valuable conversations at ENGAGE happen outside the session rooms Each track has community lunches, and our Corporate Finance lunches brought together controllers, CFOs and business leaders from a wide variety of industries. Among topics, such as the economy and the NBA Finals, we could compare notes with others facing many of the same challenges we face in Hawaii Career growth was a common topic including AICPA’s new CGMA Career Accelerator program. I was lucky enough to participate last year in the pilot cohort of the program

The program prepares participants for the Strategic Case Study exam and is a new, streamlined path for CPAs to earn the CGMA designation. Along the way, we were exposed to topics that extend beyond technical accounting and financial models and into areas such as strategy, governance, risk management, and leadership Just as valuable as the

lessons learned were the relationships I formed through the program.

I had the opportunity to reconnect at ENGAGE with fellow Career Accelerator alumnus Chad Sinkovich, Senior Accounting Manager at Employers Health, during a 3.5-hour Claude session. Chad described the program as “not only a great way to earn quality CPE, but a great way to learn new ideas or concepts that you can bring to your next team meeting or strategy discussion ”

Katie Steward, Director of Client Accounting Services at CBIZ, shared a similar perspective She noted that the program has helped her support clients in broader and more meaningful ways and has allowed her to have more valuable conversations with clients by applying concepts learned through the program

I am coming home from ENGAGE with plenty of swag from the exhibit hall and perhaps a few extra pounds, but that is never the reason I attend. Whether it was hearing Ryan Reynolds and Richard Galanti talk about hotdogs, listening to William Washington’s inspiring journey, helping moderate Donny Shimamoto’s session on AI, or reconnecting with friends from across the country, I’m leaving Las Vegas with plenty of ideas to bring back to Hawaii and my wallet (luckily) intact That’s what keeps me coming back to ENGAGE every year

The 2026 Elect & Engage, HSCPA’s Annual Election & Members Meeting, brought members together on June 19 at the Prince Waikiki for an afternoon of leadership, connection, and a healthy dose of camaraderie Members gathered to elect new leadership for the 2026–2027 year, spark new relationships, and reconnect with familiar faces

President Frank Kudo presided over his last official meeting of his two year term, offering heartfelt thanks to the Board of Directors for their dedication and service. A warm mahalo also goes to Past President 2005–2006, Ross Murakami, who expertly installed the incoming officers and directors stepping into their roles on July 1.

Members were treated to a lively professional issues update from our very own Three Dudes and a Diva — Frank, Darryl, Donny, and Trisha — who delivered timely insights on advocacy and legislation, workforce development, the CPA Trust campaign, AI’s accelerating influence, and highlights from our recent RISE2030 workshop exploring how rapid technological change is reshaping firms, educators, and organizations.

The meeting wrapped with a spirited happy hour, sending members off energized, reconnected, and ready to charge into the new year with purpose.

MAHALO to Adrian Hong and his sister for adorning the Board with beautiful handmade lei!

Through Mom’s Eyes Through Mom’s Eyes Through Mom’s Eyes

by Sheinelle Jones

Sheinelle is the co-host of “Today with Jenna & Sheinelle” and a mother of three who tragically lost her husband in 2025 to an aggressive glioblastoma She wrote this book to guide and encourage mothers through both their brightest days and their hardest ones As the cover notes, it offers “simple wisdom from mothers who raised extraordinary humans ” It’s an informative, inspirational, and deeply heartwarming read so much so that it moved HSCPA Director Kathy Castillo and me to invite HSCPA members to share their own mothers’ pearls of wisdom and guiding principles to their children at the end of the review.

Lady Gaga’s Mom

Family is everything It grounds you You know that its people you can trust It’s people that you can talk to.

Close your laptop and put your phone down. Sit on the couch and really look your child in the eye and talk to them. Validate what they feel. We may not feel it but, to them, it’s real. Also look for any changes, like a slip in their grades, more agitation, or spending excess time behind closed doors, alone

Matthew McConaughey’s Mom

Whatyouthinkaboutyou bringabout

Bekind,thoughtfulandaboveall honest.Don’tlie.Listenandbe respectful,whichmeansnoback talk.

Alwaysthinkpositive.Useit,beit anddoit.

Don’tlosesightofyourownhopes anddreams,ortoputthemonhold fortoolong

Author Sheinelle’s Grandmama and Mom Pretty is as pretty does. No matter how pretty you are on the outside, who you are on the inside is what matters

Listen in love and counsel in wisdom

Shaquille O’Neal’s Mom

“Nopass,noplay, period.”Noextracurricularsifyoudon’tgetyour grades.

Whateveryouwannado,justdoit Youknow,opportunityinlife–we’reonthisroadonlyonce.Ifyou don’tmakethebestofit,that’son you.It’snevertoolateforanew beginning.

Jonas Brothers’ Mom

Letyourchildrenbe–within boundaries,ofcourse.

We’renotraisingkids,we’reraising adults.They’regonnabeadultsa lotlongerthanthey’rekidsat home,sowewantedtoraisethem withtheintegrityandmoralvalues tobeleadersintheircommunity, achievers,greatspouses,and fathers–eventually.

Motherhood of Mothers

AsSheinellenotesattheendof herbook,whiletheworldis constantlychanging,somethings don’tchange.Everymotherstill longsforherchildtobewelland dowell.Togrowstrongandfeel goodaboutthemselves.Andto seeinuswhatwewanttodevelop inthem–confidence,self-respect, respectforothers,gratitude,grace, andself-lovetocarrythemoverthe hurdlesandhurtsthey’llhaveto faceandovercomesothatthey maythrive.

Shebelievesinyouandwishyou andyourfamilyallthebest.

Help others My mom taught me that generosity isn’t just financial; it’s giving time, sharing talents, and choosing kindness I learned this young and continue to give back today

Work for what matters She showed me that meaningful things require patience, effort, and perseverance Over time, I learned that resilience brings reward

Take pride in every task Her example of always giving 100%, especially when no one was watching, taught me to take pride in my work and carry that standard into every part of my life

~ Trisha Nomura

Tomyson... Tomyson... Tomyson...

Spend some, save some, give some She taught me early that paychecks shouldn’t be 100% bills or fun. Always save for the future and always give back. Because of her, I’ve consistently set aside part of every paycheck for retirement, savings, investments, and recurring monthly donations to organizations that shaped me.

Treat others the way you’d like to be treated The golden rule she repeated constantly, especially when my brother and I were acting up. Always be kind. You never know what someone is going through When someone was rude, she reminded us to respond with kindness. People have bad days; we might’ve just crossed paths at the wrong moment

~ Tayler Mori

Tomy Tomy Tomy mom... mom mom...

Then: 8 years old

Now: 34 years old

~ Trason Castillo

Transformation Transformation

The The The A Vision for Hawaii’s Accounting Profession Shaping Future the

accounting profession in Hawaii is at a pivotal moment

Insights gathered from a recent focus group exploring the relevance of the AICPA’s RISE 2040 report—offers a clear perspective on how local professionals view the future.

A Profession Redefined by Advisory and Technology

When participants were asked what the accounting profession in Hawaii should look like by 2030, two priorities rose clearly to the top: human-centric advisory services and technology & AI governance.

The emphasis on human-centric advisory reflects an evolution away from purely transactional work

Skills such as emotional intelligence, judgment, interpretation, and relationshipbuilding are becoming central to delivering value These capabilities position accountants not just as information providers, but as trusted advisors who help clients navigate increasingly complex business environments.

At the same time, the rise of advanced technologies demands a

new level of oversight. Professionals recognize that guiding organizations in the responsible use of AI and data rather than simply adopting tools is critical The profession’s credibility will increasingly depend on its ability to ensure that technology is used ethically, effectively, and with appropriate governance.

Other important but secondary priorities include business resilience, analytics-driven insights, and supervising AI-enabled processes. Together, these trends suggest a profession that is both more strategic and more technologically integrated

Where Education and Professional Development Must

Focus

The findings also shed light on where Hawaii’s professional associations should focus their efforts. The strongest demand for guidance centers on technology and AI governance, followed closely by business resilience and human-centric advisory skills.

This signals an important shift: while traditional technical topics

remain essential, future-ready programming must go beyond compliance and reporting

Practitioners are looking for practical education that helps them navigate emerging technologies, develop advisory capabilities, and manage organizational change

In practical terms, this means rethinking continuing professional education (CPE) to include:

AI governance and risk management

Advanced analytics and predictive insights

Leadership and communication skills

Business strategy and scenario planning

The opportunity for organizations like HSCPA and other associations is clear—deliver programming that bridges the gap between technical expertise and strategic advisory.

Trust and Talent: The Most Critical Themes

Among the major themes identified in the AICPA RISE 2040 report, participants rated Trust and Talent as the most critical for Hawaii.

Trends Trends

The importance of trust reflects the profession’s enduring role as a guardian of reliable information However, the nature of that trust is evolving Accountants are no longer responsible only for financial statements, but also for validating systems, data, and increasingly, AI-driven outputs. One key insight stood out: knowing what to trust becomes a premium capability.

At the same time, the talent challenge is intensifying. Participants emphasized the need to:

Adapt to changing expectations of new entrants Redesign entry paths into the profession

By Donny Shimamoto CPA CITP, CGMA Founder & Inspiration Architect Center for Accounting Transformation

Upskill practitioners in AI, analytics, and advisory services

Importantly, this shift does not eliminate compliance work it transforms it Automation will handle more routine tasks, freeing professionals to focus on highervalue activities such as interpretation, judgment, and advisory.

Looking Ahead: A Call to Action

The path to 2030 is clear, but not without challenges. The Hawaii accounting profession must embrace a dual transformation strengthening its foundation of trust while expanding its role as a strategic advisor.

We are holding one more workshop to gather additional input for our local vision project If you would like to learn about the insights from RISE2040 and help drive how we execute on that vision locally, please sign up to attend the next vision workshop on July 29 from 9am-11am

Ultimately, the profession’s future will be defined not by its ability to adopt technology, but by how effectively it combines technology with uniquely human strengths. By acting on these insights, Hawaii’s accounting community can position itself as a leader in trust, innovation, and advisory excellence for years to come

Mahalo for renewing your HSCPA membership. Your commitment means more than ever during these challenging and uncertain times.

By choosing to renew, you ’ re not only investing in yourself and your professional growth—you’re strengthening the entire CPA and financial community in Hawaii. Your support helps us continue providing resources, advocacy, and connection for members.

We’re grateful to have you with us as we navigate this evolving landscape together. Your dedication to the profession makes a real difference.

With appreciation ~ your Association,

Hawaii Society of CPAs