In accounting, like any professional business, there are narratives and there’s reality. At industry events like Digital CPA, hosted by CPA.com and the AICPA, you get both, though decidedly more of the former.
The narrative this year, if you’ve been paying attention, was fairly obvious:
• AI is not only coming; it’s here, and here’s how to deal with it in the best ways.
• CAS is still great for growing firms, or those that want to do more than just books. Here’s more numbers and people doing it well to tell you how
• Train your people if you want to keep them; they need skills and opportunity.
• Pretty much any level of advisory, etc. etc.
• The regulatory environment is not getting any easier any time soon; your clients need you and trust you.
In his final address to the Digital CPA crowd, outgoing AICPA CEO Barry Melancon echoed many of these themes with a few notes of his own. As ever, especially for DCPA attendees, technology remains a big focus.
“It is critically important that we not be bashful about our investment in technology and the successes they’ve had. The profession needs to own these spaces,” said Melancon. “We could spend hours talking about the long-term ramifications of AI, but it all ultimately ties back into the trusted advisor role.”
Now for some reality. Most firms have been hearing a lot of these narratives from a variety of industry organizations and even service providers in the accounting world for years. Much of it is only now just starting to register.
But everyone is going at their own pace, and coming to events like DCPA, while it does give a great window into where the forward thinkers are at, most of the profession are just not at that point. They are, at least at this point in time, somewhere in the middle.
They are making incremental changes when it comes to services, business structures, and yes, technology. But they are not entirely convinced things like AI or advisory will save them from being irrelevant.
I did manage to get some final words from Barry (after knowing him for nearly three decades, we are on a first-name basis). I had asked him what he felt he was most proud of during his tenure, as well as something he wishes went better.
For the first, he said he had many things he was personally proud of and also glad to see in the profession, but in particular the creation of what has become CPA.com and the impact it has had on so many firms.
As for a “regret” or something he wished went better, he had hoped that there would have been more of a global designation for accountants. This is something he tried for back in the late 90s, but it did not quite come to fruition, despite there being more global accounting efforts by the AICPA & CIMA.
As of January 1, it will be Mark Koziel’s ship to steer, so to speak. To that end, Koziel did briefly address the coming of his leadership to the 1000+ crowd of DCPA attendees, jokingly saying he would not be here for another 30 years.
Levity aside, he did promise to listen and “get things done. It may not happen right away,” he said, “but I am about getting things done, and it will be a priority. People talk about us doing something about the pipeline; we’re all in on it (here). I look forward to getting to work for you on January 1.”