In this episode of Max Value, host Ben Towne sits down with Denise Froemming, President and CEO of CalCPA — the California Society of CPAs — to explore the vital role of the CPA in business and society. Denise shares her journey from healthcare and real estate to leading one of the most trusted professional organizations in the country, making the case that the CPA designation is the ultimate differentiator: a mark of trust, integrity, and public stewardship. The conversation covers what it takes to become a CPA under the new flexible pathways, the key difference between an accountant and a CPA, and why every business owner should have one in their corner. The episode also tackles the value of strategic advisory services beyond tax compliance, how CPAs can literally increase the value of a client’s company, and how the profession is positioning itself to stay relevant in the age of AI. Throughout, both speakers emphasize that professional skepticism, experience, and the ability to see what’s not there are what no algorithm can replace.
Chapter 1: Welcome to Max Value
Ben Towne opens the show by introducing Max Value as a podcast for business owners and their professional advisers pursuing maximum value, covering topics such as business valuation, exit planning, and global staffing. He introduces his guest, Denise Froemming, President and CEO of CalCPA, setting the stage for a conversation about the importance of the CPA profession.
Chapter 2: From Healthcare to CPA Leadership
Denise describes her career as “never a straight road” — starting in healthcare finance, moving through CFO and COO roles in information governance and data analytics, then into international real estate management before landing at CalCPA. She emphasizes that the CPA designation followed her through every role, ultimately becoming the differentiator that earned her leadership positions and fueling a passion she says she would defend “to her dying hands.”
Chapter 3: Launching the Rise and Stride Podcast
Denise introduces Rise and Stride, a podcast CalCPA launched about three years ago to help individuals navigate change and keep their motion always forward. The goal is to showcase members and leaders making a difference, bringing people together through honest conversation — a natural fit for someone who, by her own admission, loves talking to anyone, “even in elevators.”
Chapter 4: The CPA’s Role in Trust and Stewardship
Denise defines the CPA’s core role as being stewards of public trust — ensuring the markets, the economy, and financial information can be trusted in both fact and appearance. She recalls a MAC student at UC Davis who pursued her accounting degree specifically so people would listen to her, illustrating that the CPA is ultimately “the conscience of business.” Ben reinforces this by noting that the Board of Accountancy’s enforcement power is what gives the designation real teeth.
Chapter 5: Becoming a CPA: New Flexible Pathways
Denise walks through the four E’s — Education, Experience, Ethics, and Exam — that form the foundation for becoming a CPA, and explains California’s new flexible pathway launching January 1st, 2027. The new model is built on a bachelor’s degree plus two years of experience, with options to shave off time through a master’s degree or certificate programs, making the process simpler — “not easier” — and more accessible for those entering the profession through many different paths.
Chapter 6: Accountant vs. CPA: The Key Difference
Denise frames accounting as “the language of business” — with specialties ranging from forensics to valuation — while positioning the CPA as the conscience layer on top: the additional scrutiny, integrity, and public perspective that doesn’t have to be there without the designation. Ben illustrates the stakes with examples like Enron and FTX, noting that even the best accountants without a license lack the enforced accountability that “the sword hanging over your head” provides.
Chapter 7: Why CPAs Are Worth the Cost
Denise acknowledges that CPAs don’t always do a great job articulating their value beyond billable hours, arguing that the real value proposition lies in wraparound advisory services — from wealth management and insurance connections to exit planning — across the full life cycle of a business. Ben adds that a CPA who sees dozens of companies gains cross-industry pattern recognition that no single client could ever access on their own, making the strategic partner role far more valuable than compliance work alone.
Chapter 8: Staying Relevant in the Age of AI
Both agree that CPAs who don’t use AI will become irrelevant, but that the profession’s built-in professional skepticism and analytical mindset put it in a uniquely strong position to oversee and validate AI outputs. Denise points to AI-generated fake receipts as a concrete example of why human oversight still matters, while Ben draws a parallel to attorneys who can spot not just what’s in a contract, but what’s missing — a skill that comes only from years of experience no algorithm can replicate.
Chapter 9: How CPAs Increase Business Value
Ben and Denise explore the concrete ways CPAs drive business value: analyzing financial statements, identifying hidden patterns, right-sizing working capital, and applying forensic skills when needed. Ben makes a particularly sharp point that for small and mid-size companies, having clean, well-maintained books is the “price of entry” — because no matter how good the business, poor books can be an immediate deal killer when it comes time to sell.
Chapter 10: Finding the Right CPA
Denise recommends word of mouth as the best way to find a quality CPA, noting that “successful people hang out together” and that trusted networks tend to surface trusted professionals. She highlights CalCPA as a resource and stresses the importance of finding someone whose superpowers align with your specific needs, while Ben adds that CPAs are unusually generous with their time — often taking calls and sharing knowledge even when there’s no client relationship on the line.
Chapter 11: Getting to Know Denise
In a lighter closing segment, Denise reveals she loves making charcuterie boards and scones, and that hiking and gardening are her ways to unplug. She shares that she is currently reading The Experience Economy, Mindset, and Abundance, and reaffirms her 100% belief in the importance of the CPA to the economy — signing off with an open invitation to reach her directly at CalCPA and a promise to always respond.
