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  • Is the accounting profession ready for its biggest transformation yet? With AI, private equity, and a talent shortage, how can firms stay competitive?

    Rob Brown is joined by top accounting leadersβ€”Anthony Pugliese, Mark Edmondson, Philip Whitman, and Randy Crabtreeβ€”to discuss the shifts happening within the accounting profession. From technological advancements like AI to the increasing focus on ESG reporting, the panel explores the challenges and opportunities that lie ahead for accounting firms.

    The discussion covers critical issues such as the talent shortage, the evolution of accounting into advisory roles, and the pressure on firms to embrace digital transformation. Despite the challenges, the panelists are optimistic about the future, highlighting how firms can adapt by upskilling, embracing technology, and changing traditional mindsets around compliance and billing models.

    Key Takeaways:

    βœ“ The profession is moving rapidly toward automation and AI, but accountants need to adopt these technologies to stay relevant.

    βœ“ Private equity is increasingly involved in the accounting industry, driving efficiency and digital transformation across firms.

    βœ“ With 75% of accountants nearing retirement, firms face a significant talent shortage. The profession needs to become more attractive to younger generations.

    βœ“ The traditional hourly billing model is outdated. Firms must focus on value-based pricing to stay competitive and align with modern business practices.

    βœ“ To attract top talent, firms must prioritize culture, mental health, and work-life balance, especially in an era where burnout is prevalent.

    Quotes:

    "We have to stop selling time and start selling value. It’s about outcomes, not hours." – Randy Crabtree

    "Private equity sees accounting firms as the next big thing. The potential for efficiency and profit is immense." – Philip Whitman

    "The future of accounting isn’t just about complianceβ€”it’s about being partners in innovation and technology." – Anthony Pugliese

    "Accountants need to shift their mindset from risk-averse to proactive if they want to survive and thrive." – Mark Edmondson

    View this episode in video on YouTube here: https://youtu.be/p-yr1Htaqmc

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can also check out all shows on the Accounting Influencers YouTube Channel:

    https://bit.ly/AI-youtube

  • Are you ready for the AI revolution in accounting? Can the profession attract young talent in the face of tech-driven disruption?

    In this thought-provoking episode, host Rob Brown brings together industry veterans Bobby Lane, Randy Wootton, Rick Richardson, and Tony Szczepaniak to dissect the evolving landscape of the accounting profession. The panel dives deep into the integration of AI, the looming talent crisis, and the shifting demands of modern clients.

    Despite acknowledging significant challenges, including waning interest from younger generations and the disruptive force of emerging technologies, the experts offer a beacon of hope. They provide valuable insights on how accounting firms can adapt to this new reality, leveraging AI to deliver high-value advisory services and capitalizing on the increasing complexity of client needs. This episode serves as an essential guide for accounting professionals looking to navigate the turbulent waters of change and seize the opportunities that lie ahead.

    Key Takeaways:

    βœ“ AI will automate routine tasks, but firms embracing it can provide higher-value advisory services

    βœ“ The industry faces a critical shortage of young professionals due to competition from tech sectors

    βœ“ Firms focusing on specialized services or niche markets will be more competitive

    βœ“ Clients now expect strategic advice and insights beyond traditional compliance work

    βœ“ The rise of entrepreneurship creates opportunities for comprehensive back-office solutions 

    Quotes:

    "AI isn’t going to replace accountantsβ€”but accountants who embrace AI will replace those who don’t." – Bobby Lane

    "The firms that survive will be those that move from back-office number crunching to front-office business strategy." – Randy Wootton

    "Young people aren’t avoiding accounting because it’s boringβ€”they're choosing careers where they can see the impact of their work faster." – Rick Richardson

    "We’re not asking if change will happen anymore. The conversation now is about when and how." – Tony Szczepaniak

    View this episode in video on YouTube here: https://youtu.be/I7NMqA9vZjg

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can also check out all shows on the Accounting Influencers YouTube Channel:

    https://bit.ly/AI-youtube

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  • 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 owner, a practicing accountant, or someone interested in the future of the profession, this episode is packed with valuable takeaways.

    Key Takeaways:

    βœ“ AI is transforming how accountants operate by automating routine tasks and providing deeper insights through data analysis.

    βœ“ As technology continues to advance, accountants must develop new skills to keep pace. This includes learning to use advanced software tools, understanding data security, and becoming proficient in data analysis.

    βœ“ The growing involvement of private equity in the accounting sector is changing traditional business models. Private equity firms bring significant capital and a focus on efficiency, which can lead to innovations but also challenges to established practices.

    βœ“ The accounting industry is experiencing a shift from compliance-based services to advisory roles. This change is driven by the decreasing profitability of compliance work due to automation and regulatory changes. Firms that want to thrive must pivot towards offering more value-added advisory services, where they can provide strategic insights and guidance to their clients, rather than just focusing on routine tasks.

    βœ“ A firm’s culture and sense of purpose are key to attracting and retaining top talent. In an environment where competition for skilled accountants is fierce, organizations that clearly define their mission and foster a positive, inclusive culture will stand out. 

    Quotes:

    "Different is not always better, but better is always different." - Harry Blum

    "Accountants aren't just number crunchers; they're the key to unlocking business success." - Rob Brown

    "The future of accounting isn't about compliance, it's about being a proactive, trusted advisor." - Trevor Greenway

    "If you're not leveraging AI, you're already behind the curve." - Randy Johnston

    View this episode in video on YouTube here: https://youtu.be/g0ewmI109bE

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world.

  • 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:

    βœ“ ChatGPT excels at ideation, research, and strategy development for business advisory

    βœ“ AI can help accountants overcome time constraints and confidence issues in providing advisory services

    βœ“ Accountants need to adapt to AI to stay relevant and maintain a competitive edge

    βœ“ ChatGPT can analyze financial data and provide insights for client meetings

    βœ“ The value is in the conversation with clients, not just in AI-generated reports 

    Quotes:

    "AI is not going to replace us. It's how our competitors are going to use AI that's going to replace us."

    View this episode in video on YouTube here: https://youtu.be/jFQfxfl1W7A

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can also check out all shows on the Accounting Influencers YouTube Channel:

    https://bit.ly/AI-youtube

  • 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:

    βœ“ The accounting profession needs to rebrand itself to attract new talent

    βœ“ Firms should move away from the "minnow management" business model to improve profitability and work-life balance

    βœ“ Technology vendors need to work more closely with accountants to develop truly useful solutions

    βœ“ Involving next-gen talent in technology decisions can help drive innovation in firms

    βœ“ There's a need to make the profession more inclusive and representative of the community 

    Quotable Moments: 

    "Accountants are the superheroes of the economy." - Renee Moelders 

    "The only thing that's consistent in our firm is change." - Andrew Berg

     "We need to celebrate the successes and focus on the good things about the profession." - Sona Akmakjian

    View this episode in video on YouTube here: https://youtu.be/QjI8E_kI8Z4

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can also check out all shows on the Accounting Influencers YouTube Channel:

    https://bit.ly/AI-youtube

  • 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 unprofitable clients, raising prices, and focusing on specific service lines. He encourages accountants with an entrepreneurial spirit to consider starting their own niche boutique firm, as it can provide greater control over building a sellable asset.

    Key Takeaways:

    Location, profitability, and owner hours are crucial factors in determining an accounting firm's value and saleability.Specialization and avoiding being a generalist firm increase efficiency and profitability, making a firm more attractive to buyers.Understanding the motivations and fit of potential buyers (individual, private equity, or strategic acquisition) is essential for a successful sale.Purging unprofitable clients, raising prices, and focusing on specific service lines can significantly increase a firm's value before a sale.Starting a niche boutique firm can be a viable option for entrepreneurial accountants, allowing them to build a sellable asset tailored to their vision.

    Quotes:

    "If you've got low owner hours and high profitability, you're going to command a more premium price for your firm, and it's probably going to sell faster." - Brannon Poe

    "If you're wired a certain way, you're going to do (DO WHAT?)it anyway. So just go ahead and do it sooner rather than later." - Brannon Poe

    View this episode in video on YouTube here:

    https://youtu.be/MZwyyxsbkUs

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

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    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to...

  • 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 professionals.

    Key Takeaways:

    βœ“ AI and technology are not threats but tools to enhance accounting practices

    βœ“ The talent pipeline issue is complex, involving culture, pay, and industry perception

    βœ“ Firms need to adapt their business models and culture to attract and retain talent

    βœ“ Marketing is essential for attracting better clients and staying relevant in a changing market

    βœ“ The accounting profession is undergoing a transformative period, offering exciting opportunities for those who embrace change 

    Quotes:

    "Human capital is an asset, not an expense." - Tom Hood

    "We're not tied to a physical location. We have tools and resources that allow us to work from wherever." - Katie Thomas

    View this episode in video on YouTube here: https://youtu.be/dOQqmlHZsLI

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can also check out all shows on the Accounting Influencers YouTube Channel:

    https://bit.ly/AI-youtube

  • 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 their work, from using productivity tools like Copilot to partnering with IT teams for more complex implementations.

    Key Takeaways:

    βœ“ AI is evolving from rule-based systems to more sophisticated, context-aware models

    βœ“ Azure OpenAI offers secure, private AI capabilities for businesses

    βœ“ AI can help accountants shift from data crunching to more strategic, value-added activities

    βœ“ Starting with productivity tools like Copilot can help professionals become comfortable with AI βœ“ Successful AI implementation requires considering technology, processes, and people 

    Quotes:

    "I'd rather flip that on its head and that way, you know, I'm more confident in the decision we would want to make based on spending more time getting to the roots of different scenarios on the table." - Jas Brar 

    "Always start with why, right? How do you think about what, why would I use this technology? It's not technology for technology's sake." - Matt Quinn

    View this episode in video on YouTube here: https://youtu.be/gPru_OoGQSY

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can also check out all shows on the Accounting Influencers YouTube Channel:

    https://bit.ly/AI-youtube

  • 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:

    βœ“ Firms that are technology mature reported 39% higher revenue per employee than average

    βœ“ The biggest challenges to tech adoption are lack of expertise, resources, and budget

    βœ“ Cloud adoption can address cybersecurity concerns by providing managed security services

    βœ“ Only 22% of firms reported a high percentage (75%+) of their clients using cloud technologies

    βœ“ Firms need to align their technology adoption with their evolving business models to stay relevant 

    Quotes:

    "The shared vision of what you want your firm to be and how you want it to work needs to be enabled by technology." - Joel Hughes

    View this episode in video on YouTube here: https://youtu.be/opSSeLuwCZk

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can also check out all shows on the Accounting Influencers YouTube Channel:

    https://bit.ly/AI-youtube

  • 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:

    βœ“ The accounting profession needs to rebrand itself to attract new talent

    βœ“ Firms need to adapt their business models and embrace change to survive

    βœ“ Technology integration and strategic adoption are crucial for future success

    βœ“ Work-life balance and flexible work arrangements are becoming increasingly important

    βœ“ Private equity is reshaping the accounting firm landscape 

    Quotes:

    "Remote work is a great thing for our profession." - Jeff Phillips

    "We need to get over the idea that you can't have a work-life balance if you work for an accounting firm." - Samantha Louis

    View this episode in video on YouTube here: https://youtu.be/ZHg0IIw-wyU

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can also check out all shows on the Accounting Influencers YouTube Channel:

    https://bit.ly/AI-youtube

  • 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 engineering is essentially communication with AI systems Good prompts include specifying roles, response formats, and audience considerations ChatGPT can be used for financial analysis, research, and business advisory in accounting firms Mastering prompt engineering can save hours of work and open new opportunities for accountants It's not AI that will replace accountants, but how competitors use AI that may make others irrelevant

    View this episode in video on YouTube here: https://youtu.be/KTS58DjGvsg

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can also check out all shows on the Accounting Influencers YouTube Channel:

    https://bit.ly/AI-youtube

  • 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 embracing new technologies and practices There's a need to shift focus from compliance to advisory services and providing value to business owners Education and training in technology, including AI and coding, will be crucial for accountants in the future The accounting profession offers diverse opportunities for specialization and passion-driven careers 

    Quotes:

    "I think the biggest threat to us is ourselves. We have a resistance to change." - Laura Day-Henderson

    "We need to start seeing the application of accounting to achieve dreams, aspirations of businesses, or even personal lives." - Michael Hsu

    You can watch this episode and more on our YouTube Channel

    https://youtu.be/piLILTD0rnc

    Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

    ◣━━━━━━━━━━━━━━━━━━━━◒

    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

    ◣━━━━━━━━━━━━━━━━━━━━◒

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can...

  • 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 address the talent shortage by rethinking education requirements and work culture Remote work is here to stay, and firms need to adapt their policies to attract and retain talent The partnership model in accounting firms may be outdated and needs to be reevaluated Technology should be seen as an enabler for better processes, not just a solution to pain points The future of accounting lies in advisory services and helping businesses achieve their goals

    Quotes: 

    "Complacency is one of the threats that we often run into." - Tamera Loerzel

    "Every accountant is an entrepreneur." - Rick Telberg

    "Let's stop arguing about it and fighting it and just get to work." - Jeremy Clopton on remote work

    "We need to focus on results-based metrics and what are the deliverables." - Tamera Loerzel

    "The CPA brand is one of the best in the world." - Rick Telberg

    You can watch this episode and more on our YouTube Channel

    https://youtu.be/SUhzVy194H0

    Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

    ◣━━━━━━━━━━━━━━━━━━━━◒

    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

    ◣━━━━━━━━━━━━━━━━━━━━◒

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand...

  • 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 an AI-driven future.

    Key Takeaways:

    AI will significantly impact the accounting profession by 2030 Bookkeeping and tax return preparation may become automatedAccountants need to embrace AI tools like ChatGPT Firms must find new ways to create value for clients Value-based pricing is crucial in the age of AI 

    Quotes:

    "Data's where the power is. Data's where the money is." [00:11:50]

    "Productivity goes through the roof when we use it, when we use it properly." [00:14:30]

    You can watch this episode and more on our YouTube Channel

    https://youtu.be/MnEXckAjVZU

    Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

    ◣━━━━━━━━━━━━━━━━━━━━◒

    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

    ◣━━━━━━━━━━━━━━━━━━━━◒

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

    https://www.linkedin.com/in/therobbrown

    You can also check out all shows on the Accounting Influencers YouTube Channel:

  • 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, state societies, and the profession itself. Sue and Lexy share their optimism that by implementing the recommended solutions, the accounting profession can overcome this challenge and attract the talent required to thrive in an ever-evolving business landscape.

    "We are a profession that communities, businesses, and economies need, and we just need to address our talent shortages and adapt." - Sue Coffey

    "It's not just Debits and credits to that point. It's really about the business person piece of it and the different scenarios and the strategy behind the numbers as well. So there's much more to it than, than processing or, or producing a product and that's it. It's much, much more than that." - Lexy Kessler

    Key Takeaways:

    The accounting profession is struggling with a talent pipeline shortage, but it's not "withering on the vine" as some suggest. - Sue Coffey

    Improving storytelling and celebrating the profession's impact is crucial to attract younger generations. - Lexy Kessler

    The cost and time commitment of education, especially for socioeconomically disadvantaged students, is a significant barrier to entry. - Sue Coffey

    Firms need to evolve their business models to provide a better experience for young professionals in their first five years, addressing issues like excessive hours and meaningful work assignments. - Sue Coffey

    Modernizing the CPA licensure process is a long-term goal to ensure the profession remains sustainable and relevant in the future. - Lexy Kessler

    You can watch this episode and more on our YouTube Channel

    https://youtu.be/JaLe1nq9lk4

    Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers

    ◣━━━━━━━━━━━━━━━━━━━━◒

    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

    ◣━━━━━━━━━━━━━━━━━━━━◒

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience...

  • 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 relevant. The profession faces a talent shortage and needs to rebrand itself to attract and retain the next generation. Firms should focus on helping clients be profitable and speak a language they understand.Financial literacy should be prioritized from a young age to foster a deeper understanding of numbers. Embracing AI and technology can free up accountants to provide more purposeful and impactful work.

    Quotes:

    "They should be listening to their clients. They should be asking for and being proactive in helping their clients instead of retroactive." - Leslie Shiner "You cannot talk like an accountant. You got to talk like to a human, because your customer is a human, not an accountant." - Adam Lean "I would love to see financial literacy, like, in every high school, community college, so we could start from a, and it's in about 25 different states, but we're working on it." - Denise Froemming "You can't go and speak to accountants to tell them how to do their day job because we're not accountants." - Paul Surtees "Accounting is the language of business. And I think this is a great time for accountants to remember that and realize that their job is to be an interpreter of accounting in a way that makes sense." - Adam Lean

    View this episode in video on YouTube here:

    https://youtu.be/aS_eaA5zVtg

    ◣━━━━━━━━━━━━━━━━━━━━◒

    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

    ◣━━━━━━━━━━━━━━━━━━━━◒

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our...

  • 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 underscore the immense potential for accountants to thrive in the evolving business landscape by embracing innovation, redefining their value proposition, and becoming trusted advisors to their clients.

    Key Takeaways:

    The accounting profession is at a crossroads, with firms facing an existential crisis due to outdated business models and a talent shortage. Money pouring into the industry from private equity and venture capital firms is forcing change and disrupting traditional firm structures. The ability to work with technology, including AI, will be more important than accounting experience or subject matter knowledge in the near future. Firms must prioritize culture, purpose, and agency for their employees to attract and retain top talent in the face of better career alternatives. Referrals alone will no longer be sufficient for acquiring new business; firms must embrace transparency and deliver remarkable client experiences.

    Quotes:

    "There are some real pioneers in this space who are doing things differently, who are trying things differently, sometimes not always working, but I think we should support them and encourage them because if we have those pioneers, other people will follow and ultimately do things differently and innovate." - Arun Mehra "The best accountants are going to be more technologists than classic accountants." - Chase Birky "We're going to self-serve a lot more of this relationship with a lot more visibility into the steps that are happening behind the scenes." - Eric Gregg "The technology that's here today, and the technology that's coming in the future, is going to allow us to be more human and help our clients better and faster, and still get to go home on time." - Jody Padar

    View this episode in video on YouTube here:

    https://youtu.be/PF0h65LzTAY

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    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

    ◣━━━━━━━━━━━━━━━━━━━━◒

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and...

  • 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 culture, work-life balance, and the need for accountants to break free from the billable hour mindset, which can perpetuate the cycle of overwork and undervaluation.

    Key Takeaways:

    Accountants often struggle with time management, staff shortages, and an inability to let go of work, leading to burnout and dissatisfaction.Setting boundaries, purging underperforming clients, and implementing value-based pricing are crucial steps to creating a sustainable and fulfilling practice.Taking a truly unplugged vacation requires advance preparation, team readiness, and acceptance that some balls may drop during the absence.Firm culture, work-life balance, and moving away from the billable hour mindset are essential for attracting and retaining top talent in the accounting profession.Booking a vacation and committing to being unplugged is an actionable step accountants can take to recalibrate their priorities and improve their overall well-being.

    Quotes: 

    "You don't like your practice, keep raising your prices until you do." - Brannon Poe

    "If you're equating your time to money, well, there's probably one of the first problems you got to solve." - Brannon Poe

    View this episode in video on YouTube here:

    https://youtu.be/LIP3OXh_yEk

    ◣━━━━━━━━━━━━━━━━━━━━◒

    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

    ◣━━━━━━━━━━━━━━━━━━━━◒

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.

  • 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-disciplinary education to the potential demise of the traditional partnership model and the globalization of services delivery. 

    The panelists also emphasize the need to address persistent myths and raise financial literacy to foster a better understanding of the profession's true value.

    Key Takeaways:

    The accounting profession is in a state of flux, with a divide between those embracing change and those resistant to it. Firms unwilling to adapt risk becoming irrelevant.Accountants must go beyond traditional number-crunching roles and develop skills in communication, strategic thinking, and entrepreneurship.Technology, such as AI and automation, will eliminate tedious tasks, allowing accountants to focus on delivering value-added advisory services.Attracting and retaining talent is a significant challenge, and firms must invest in training and development, particularly in soft skills.Branding and storytelling are crucial for changing the perception of accounting as a boring profession and showcasing its dynamic nature.

    Quotes:

    "We have to tell a better story. What made Anderson great is the way that they onboarded people, the way that they ingrained them into what was great about the profession." - Sarah Dobek

    "It's the best of times and the worst of times for accounting." - Tom Barry (paraphrasing Charles Dickens)

    Watch in video format on youtube here: https://youtu.be/SuOqR21SLB4

    ◣━━━━━━━━━━━━━━━━━━━━◒

    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

    ◣━━━━━━━━━━━━━━━━━━━━◒

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

    If you'd like to sponsor the show and...

  • 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 literacy, closing the public's expectation gap on audit failures, and fostering a culture of technology integration.

    While tumultuous times loom, the profession's future brims with opportunities for the adaptive. As Stein states: "It's the best and worst time" for accounting.

    Key Takeaways:

    The accounting profession is at an inflection point, with significant changes happening due to technology, changing workforce dynamics, and evolving client needs.Firms and individuals who embrace change and upskill in areas like communication, strategic thinking, and advisory services will thrive, while those resistant to change may struggle.The traditional partnership model and accounting qualifications may undergo significant transformations to adapt to the changing landscape.Increasing financial literacy and understanding the true value of accountants beyond compliance work is crucial for the profession's future.

    "If your business model is serving people in volume and you want the 100, 1040 or the 50 a month bookkeeping client, I mean, you're in for a rude awakening because frankly, nobody really does want that." - Jason Stine

    "We'll see the emergence of cross-disciplinary accounting degrees, certifications that lend finance and technology with traditional accounting education. The accountants of tomorrow, they'll need to have a very broad knowledge base to navigate the complexities of modern business." - Daniel Dronsfield

    Watch in video format on youtube here: https://youtu.be/NsYHJu8dRTo

    ◣━━━━━━━━━━━━━━━━━━━━◒

    The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

    ◣━━━━━━━━━━━━━━━━━━━━◒

    Thanks to our sponsors:

    ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com

    ACCOUNTEX. Join us at Accountex London, the pinnacle of fintech innovation, May 15-16, 2024! Discover ground-breaking solutions from 295+ brands and gain invaluable insights at our...