Small Firm Mergers and Acquisitions Tech Session

Carl Peterson is a highly respected figure in the accounting profession, widely recognized for his decades of advocacy, leadership, and dedication to the success of small accounting firms. He recently retired in 2025 after a distinguished, decade-long tenure as the Vice President of Small Firm Interests at the American Institute of CPAs (AICPA). AICPA Leadership and Global Influence Joining the AICPA in 2014, Peterson served as the primary advocate and representative for small firms across the country. He acted as the voice of small practices on standard-setting, regulatory matters, and small business issues, ensuring that the AICPA's initiatives were tailored to meet their unique needs. He engaged directly with practitioners through nationwide roundtables, webcasts, and direct consultations to understand and address their evolving challenges. On an international level, Peterson served as a technical advisor to the International Federation of Accountants (IFAC) Small and Medium Practices (SMP) Advisory Group. In this capacity, he contributed his expertise to global discussions on practice management, standard implementation, and international accounting initiatives. History in Public Practice Before transitioning to his national leadership roles, Peterson spent more than 30 years in public practice. He was the managing partner of Peterson, Peterson & Associates, PLC, a small accounting firm based in the Minneapolis/St. Paul area. This extensive, hands-on experience allowed him to intimately understand the dayto-day realities, entrepreneurial challenges, and client service dynamics of running a small CPA firm, making him a highly effective advocate for his peers. Minnesota Society of CPAs (MNCPA) Leadership Peterson has a deep history of volunteerism and leadership at the state level. He was a fixture within the Minnesota Society of CPAs, where his key roles included:  Past Chair of the Board of Directors: Guiding the strategic vision of the state society.  Past Chair of the MNCPA Political Action Committee (PAC) and Legislative Issues Committee: Leading legislative advocacy efforts for the accounting profession at the state level.  Various Committee Roles: Building lifelong connections through service on the Ethics Committee and as the Tax Conference chair. Additional Background and Accomplishments  Education: Peterson graduated from Kansas State University with a Bachelor of Science in Accounting.  AICPA Volunteer History: Prior to joining the AICPA staff, he volunteered extensively within the organization, serving as a member of the AICPA Governing Council and the Accounting and Review Services Committee.  Industry Recognition: His impact on the profession was consistently acknowledged by the industry; Accounting Today named him one of the "Top 100 Most Influential People in Accounting" consecutively from 2014 through 202