Accounting Influencers

How are the most successful accountants navigating the rapid changes in technology, regulation, and talent shortages? What secrets are the top industry leaders using to stay ahead in this ever-evolving landscape?Rob Brown leads a dynamic panel discussion with industry leaders Randy Johnston, Harry Blum, Jennifer O'Carroll, and Trevor Greenway. They discuss the profound shifts happening in the accounting profession today, from the impact of private equity to the essential role of technology and the future of talent management. The conversation explores through the challenges and opportunities presented by AI, regulatory changes, and the evolving role of accountants as trusted advisors. The panelists provide actionable advice on how firms can embrace change, enhance their value propositions, and future-proof their businesses. They also discuss the critical importance of upskilling, the integration of technology, and the need for accountants to adapt to a rapidly changing environment. Whether you're a firm

Are AI and ChatGPT revolutionizing business advisory services? How can accountants leverage these tools to deliver more value to their clients?Rob Brown and Mark Wickersham, an expert in value pricing and AI applications for accountants, tackles the world of ChatGPT and artificial intelligence, exploring how these technologies are transforming the accounting profession, particularly in the realm of business advisory services.Mark shares his insights on how AI can help accountants overcome time constraints and boost confidence in providing strategic advice. He discusses the potential of ChatGPT for ideation, research, and strategy development, emphasizing that while AI is a powerful tool, it won't replace human expertise. The conversation covers practical applications, best practices, and ethical considerations for integrating AI into accounting workflows.Key Takeaways:✓ ChatGPT excels at ideation, research, and strategy development for business advisory ✓ AI can help accountants overcome time constraints and

Is accounting really a dying profession? Or is it on the cusp of an exciting revolution?Rob Brown brings together a panel of industry experts to debate the future of accounting. Despite current challenges, the panelists paint a picture of a profession ripe with opportunity for those willing to embrace change and innovation.The discussion covers critical issues facing the accounting world, including talent shortages, technological disruption, and the need to rebrand the profession to attract new generations. The panelists offer insightful perspectives on how firms can adapt their business models, leverage technology, and create more fulfilling career paths. While acknowledging the hurdles, there's a strong sense of optimism about accounting's vital role in helping businesses succeed and the diverse opportunities available to those entering the field.Key Takeaways:✓ The accounting profession needs to rebrand itself to attract new talent ✓ Firms should move away from the "minnow management" business model to imp

In this insightful episode, Rob Brown delves into the world of accounting firm valuations and sales with Brannon Poe. They discuss the current trend of consolidation within the industry, driven by the influx of private equity money and the large number of accounting professionals nearing retirement age.Brannon shares his expertise on the key factors that make an accounting practice valuable and sellable, including profitability, owner hours, location, and specialization.The conversation explores the various types of buyers for accounting firms, such as individual buyers, private equity firms, and strategic acquisitions by other firms. Brannon emphasizes the importance of understanding a buyer's motivations and ensuring a good fit, as selling a firm involves more than just financial considerations – it's about preserving client relationships and taking care of staff.In addition, he also offers practical advice for firm owners looking to maximize their firm's value before a sale, including purging unprofit

Is the accounting profession facing extinction or evolution? What does the future hold for accountants in a world of AI and rapid technological change?Rob Brown engages in a lively discussion with industry experts David Osborne, Katie Thomas, and Tom Hood about the current state and future of the accounting profession. The panel share their thoughts about the challenges that accountants are facing today, including talent shortages, technological disruption, and changing client expectations.The conversation covers a wide range of topics, from the impact of AI and cloud technology on accounting practices to the need for a cultural shift in how firms treat their employees. The experts share insights on attracting and retaining talent, the importance of embracing change, and why, despite challenges, this is an exciting time to be in the accounting profession. They also discuss the role of marketing, the evolution of accounting education, and the need to rebrand the profession to appeal to a new generation of prof

Are you ready to unlock the full potential of AI in accounting and finance? How can Azure OpenAI revolutionize the way financial professionals work?In this special bonus episode of the Accounting Influencers podcast, Rob Brown explores the world of artificial intelligence with Microsoft experts Jas Brar and Matt Quinn. The conversation explores how AI, particularly Azure OpenAI, is transforming the accounting and finance sector, offering new opportunities for efficiency, insight, and value creation.Jas and Matt discuss the evolution of AI from traditional rule-based systems to more sophisticated generative AI, emphasizing how these technologies can augment human capabilities rather than replace them. They address common concerns about data security and privacy, explaining how Azure OpenAI provides a secure environment for businesses to leverage AI while maintaining control over their sensitive information. The experts also offer practical advice on how accounting professionals can start incorporating AI into

Is your accounting firm struggling to keep up with technology? Are you curious about how tech adoption could impact your bottom line?Rob Brown sits down with Joel Hughes of Rightworks to discuss the findings of their 2024 Accounting Firm Technology Survey. They delve into the current state of technology adoption in accounting firms, exploring the challenges and opportunities that come with embracing cloud-based, connected, and collaborative technologies.Joel shares key insights from the survey, including the surprising statistic that firms on the technology-mature side of the spectrum reported 39% higher revenue per employee than average. The conversation covers topics such as the obstacles to tech adoption, the importance of cybersecurity, and the potential impact of AI on the accounting profession. Joel also emphasizes the need for firms to modernize their practices to gain a competitive advantage and improve client relationships.Key Takeaways:✓ Firms that are technology mature reported 39% higher revenue p

Is the accounting profession facing an identity crisis? Can it adapt to meet the demands of a rapidly changing business landscape?Rob Brown brings together a panel of industry experts to discuss the future of accounting. Jeff Phillips, Maureen Dillmore, Samantha Louis, and Sandra Wiley share their perspectives on the challenges and opportunities facing the profession.The panelists share their thoughts with various topics, including the talent shortage, the impact of technology, the changing business model, and the need for a rebrand of the accounting profession. They discuss the importance of work-life balance, the role of private equity, and the need for firms to adapt to survive in a competitive landscape. The conversation also touches on the potential of AI, the importance of strategic technology adoption, and the need for better compensation models to attract and retain talent.Key Takeaways:✓ The accounting profession needs to rebrand itself to attract new talent ✓ Firms need to adapt their business model

Is AI reshaping the accounting world? How can accountants harness the power of ChatGPT through prompt engineering?Rob Brown sits down with Mark Wickersham, an expert in prompt engineering and AI applications for the accounting industry. They discussed the world of ChatGPT, exploring its potential to revolutionize accounting practices and the crucial skill of prompt engineering.Mark Wickersham shares his journey with ChatGPT, emphasizing the importance of asking better questions to get better answers. He introduces the concept of prompt engineering as a vital communication skill in the AI era. The discussion covers various aspects of crafting effective prompts, from specifying roles and formats to considering the intended audience. Wickersham also provides practical examples of how accountants can leverage ChatGPT for tasks ranging from financial analysis to content creation, highlighting the tool's potential to dramatically increase productivity and enhance client services.Key Takeaways:Prompt engineerin

Is the accounting profession facing an existential crisis? How can accountants stay relevant in a rapidly changing world?Rob Brown brings together three industry experts to discuss the future of accounting and the challenges facing the profession. Laura Day-Henderson, Michael Hsu, and Alan Morgan share their insights on the threats to accounting, the resistance to change within the industry, and the need for a shift in focus from compliance to advisory services.The panel explores the role of technology, talent acquisition, and education in shaping the future of accounting. They discuss the importance of soft skills, the need for a more entrepreneurial mindset, and the potential for accountants to provide tremendous value to businesses. The conversation also touches on the role of professional bodies, the impact of AI, and the opportunities for specialization within the field.Key Takeaways:Relevancy is a major challenge for the accounting profession Resistance to change is holding accountants back from em

Is the accounting profession facing an existential crisis? Or is it on the brink of unprecedented opportunities?Rob Brown assembles a panel of industry experts to dissect the current state and future prospects of the accounting profession. Jean Caragher, Jeremy Clopton, Rick Telberg, and Tamera Loerzel bring their wealth of experience to the table, offering insights on everything from talent shortages to technological disruption.The conversation delves deep into the challenges facing accountants today, including the struggle to attract new talent, the need for a shift in business models, and the impact of remote work. However, it's not all doom and gloom. The panelists also highlight the immense opportunities available to those willing to embrace change and innovation. They discuss the importance of compassionate leadership, the need for better metrics beyond billable hours, and the potential for accountants to position themselves as true business advisors.Key Takeaways:The accounting profession needs to

Is artificial intelligence overhyped, or will it revolutionize the accounting profession? How can accountants prepare for the AI-driven future?Rob Brown interviews Mark Wickersham, a veteran accountant and AI enthusiast, about the impending impact of artificial intelligence on the accounting profession. Wickersham predicts significant changes in the industry by 2030, including the automation of bookkeeping and tax return preparation. He highlights the rapid advancements in AI technology across various sectors and explains how these developments will inevitably transform accounting practices.The discussion covers the current state of AI adoption in accounting firms, the potential of tools like ChatGPT, and the importance of embracing new technologies. Wickersham emphasizes the need for accountants to focus on creating value for clients beyond traditional compliance work and advocates for value-based pricing models. The conversation provides valuable insights into how accountants can prepare for and thrive in a

Host Rob Brown is joined by Sue Coffey, CEO of Public Accounting at the American Institute of CPAs (AICPA), and Lexy Kessler, Partner at Aprio and Chair of the AICPA's National Pipeline Advisory Group (NPAG). They look into the alarming talent shortage facing the accounting profession and the potential solutions proposed by the NPAG.Lexy and Sue discuss the overwhelming evidence pointing to a significant talent pipeline issue in accounting, including declining enrolment in accounting programs, fewer students pursuing the CPA credential, and challenges in retaining young professionals in their first five years of employment. But can the profession overcome this challenge? Rob, Sue, and Lexy explore the root causes, such as the profession's perceived image, the cost and time commitment of education, and the need for evolving business models at accounting firms.The NPAG's findings underscore the urgency of addressing the talent pipeline issue collaboratively, involving stakeholders from academia, regulators, sta

Ever wondered how top accountants stay ahead in a fast-evolving industry?  Rob Brown hosts a panel of influential voices in the accounting world to discuss the current state and future of the profession. The conversation delves into the threats and challenges faced by accountants, the need for rebranding and attracting new talent, the role of technology, and the opportunities that lie ahead.The panelists, including Paul Surtees, Leslie Shiner, Denise Froemming, and Adam Lean, share their candid perspectives on the commoditization of accounting services, the importance of shifting from compliance-focused to advisory-focused roles, and the need for accountants to speak the language of business rather than accounting jargon.They emphasize the necessity of embracing technological advancements like AI and automation to free up time for more meaningful work and the imperative of fostering financial literacy in society.Key Takeaways:Accountants must move beyond compliance and embrace advisory roles to stay

This international panel discussion explores the current state and future trajectory of the accounting profession. The distinguished panel includes influential leaders and innovators in the field such as Arun Mehra, Chase Birky, Eric Gregg, and Jody Padar to share their diverse perspectives on the challenges and opportunities facing the industry.The conversation kicks off with an assessment of the profession's current shape. While the panelists acknowledge the existence of challenges, such as talent shortages and outdated business models, they also recognize the immense opportunities arising from technological advancements, changing client expectations, and the influx of capital from private equity and venture capital firms.The discussion highlights the importance of embracing change, prioritizing culture and purpose, upskilling in areas like technology and advisory services, and positioning accountants as trusted business advisors rather than mere compliance providers.As the dialogue progresses, the guests u

Brannon Poe is the author of "The Unplugged Vacation," and founder of Poe Group Advisors and Accounting Practice Academy. Rob Brown and Brannon Poe delve into the often-overlooked challenges accountants face in managing their time and achieving work-life balance. Brannon, sheds light on the realities of the accounting profession, where the relentless demands of clients and the struggle to maintain boundaries can lead to burnout and dissatisfaction.Brannon's book, "The Unplugged Vacation," serves as a guide for accountants to reclaim control over their time and learn the art of truly disconnecting from work during vacations. Through personal anecdotes and insights, he underscores the importance of setting boundaries, purging underperforming clients, and implementing value-based pricing to create a sustainable and fulfilling practice.The conversation explores the challenges accountants face in saying "no" to clients, leading to unfocused and overextended practices. Brannon emphasizes the importance of firm

This international panel discussion explores the current state and future trajectory of the accounting profession. The distinguished panel includes influential leaders and innovators on the field such as Dianne Yetter, Sarah Dobek, Tom Barry and Jeff Seibert to share their diverse perspectives on the challenges and opportunities facing the industry.The conversation goes through with an assessment of the profession's current shape. While the panelists acknowledge the existence of challenges, such as talent shortages and outdated perceptions, they also recognize the immense opportunities arising from technological advancements and evolving client needs. The discussion highlights the importance of embracing change, upskilling in areas like communication and strategic thinking, and positioning accountants as trusted business advisors.As the dialogue progresses, the guests share their visions for the future of accounting. Predictions range from the rise of accounting for virtual economies and cross-disciplina

This international panel discussion explores where the accounting profession is headed and what it needs to do to remain relevant. The all-star panel includes influencers Daniel Dronsfield, Amy Vetter, Jasen Stine and Andrew Harding.The experts agree the profession is at an inflection point, with a divide between those embracing change and those resistant to it. Firms unwilling to adapt face potential irrelevance as the workforce ages and talent becomes scarce. Persistent myths like accountants being stuck in the past need debunking. Successful future accountants will need skills beyond number-crunching, such as communication, strategic thinking, and an entrepreneurial mindset. The panelists urge learning from other industries' client-centric and innovative approaches.Bold predictions include the rise of accounting for virtual economies, more cross-disciplinary education, the demise of the partnership model, and globalized services delivery.If granted a magic wand, the panelists wish for raising financial lit

Jeremy Clopton is a governance and leadership expert who works extensively with accounting firms. Jeremy and Rob delve into the critical topic of governance best practices for successful accounting firms. Jeremy emphasizes the importance of separating governance (strategic decision-making) from operations (day-to-day management). He shares insights on streamlining decision-making processes, delegating authority, and fostering effective communication within partner groups.Clopton's insights shed light on the common challenges firms face as they grow, including the need for partners to relinquish autonomy and embrace a more structured, business-like approach to governance. He stresses the importance of clearly defining decision-making authority at different levels within the firm and ensuring that partners understand and buy into the governance model.Key Takeaways:Differentiate between governance (strategic decisions) and operations (day-to-day management)Clearly define decision-making authority at partner, man

This episode features a panel discussion on the challenges and future of the accounting profession. Panelists include Ed Kless, Michael Turner (Validis), Steve Cox (IRIS), and Dan McMahon (Integrated Growth Advisors). They delve into issues like the billable hour model, talent shortages, resistance to change, the role of technology like AI, client advisory services, private equity's impact, and more. The conversation offers insightful perspectives on where accounting is stuck and what kind of transformation is needed.Panelists:- Ed Kless, Former Senior Director of Partner Development and Strategy at Sage- Michael Turner, CEO of Validis- Steve Cox, Business Intelligence Director at IRIS - Dan McMahon, Management Consultant at Integrated Growth AdvisorsKey Topics:- The billable hour as the "cancer" holding back accounting- Need to transition to selling knowledge/value instead of time- Talent shortage and struggles to attract newcomers - Importance of purpose, values, and accountability for great firms- Role o