Is Accounting Future-Proof? Experts Weigh In!

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 models and embrace change to survive
✓ Technology integration and strategic adoption are crucial for future success
✓ Work-life balance and flexible work arrangements are becoming increasingly important
✓ 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

Chapters and Timestamps:
03:40 - Threats and challenges facing the accounting profession
08:40 - Who accountants listen to and should be listening to
23:40 - The role of technology in accounting
31:40 - Myths and faulty thinking in the profession
38:50 - Wishes for the future of accounting
44:50 - Predictions for the accounting industry
49:50 - Why it's a great time to be in accounting
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The Accounting Influencers Podcast is for accountants, bookkeepers, finance professionals and those who lead, work in, and serve them. Hosted by Rob Brown and special guests who are influential within their field, the podcast covers topics such as leadership, business growth, technology and automation, diversity and career development. Join the accounting influencers conversation at one of our virtual speed networking events for influential leaders and professionals in the accounting, finance and tech world:

[Mntypthn]

I think its a bit dishonest to portray the accountant as strategic advisor. You guys are trying to "speak it into existence". Most accounting jobs are nothing of the sort and there is no guarantee they will be in the future. It could be the opposite, actually.

I really do think, besides pay, the main issue affecting the prestige of accountants is that they are restricted from doing much business analysis and are instead seen as handing off that data to others who get to do that more exciting and interesting work.

We dont need to just change the "perception", we need to fight so that business analysis and strategy is more and more considered the province of accountant (rather than finance) departments.