CPAs working in modern business and industry face two fundamental and interrelated
challenges.
On one hand, they're overseeing automation and other tech upgrades to core finance, accounting, and other business functions. On the other hand, they face growing demands for valuable insights on the future trajectory of the business itself.
Kimberly Ellison-Taylor, CPA, CGMA, says these twin demands have grown exponentially in the post-COVID-19 pandemic years.
The demands and expectations of the profession have "accelerated significantly forward as a result of COVID. The lemonade of that really tough time is that it elevated our thinking," said Ellison-Taylor, a former executive director for Oracle, past chair of the AICPA, and board director for several major companies.
"We expect a savvy business user who understands how to use technology to mitigate and manage risks, use technology to improve their decision-making, and use technology to help them anticipate what's next," she said.
Success today requires combining specific new tech skills, including the use of AI and automation, with the human arts of relationship building and strategizing.
Developing these complementary skill sets is a top requirement for job candidates, current professionals, and finance leaders. "Business models are shifting.
It's required a whole new breed of strategic financial people to be able to deal with that changing