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Here’s what some of the industry’s leading experts have to say about the current and future states of the accounting and finance profession:
Changing opportunities
“Many
years ago accountants were seen as simply the ‘bean
counters.’
Today, that’s
changed dramatically. You not only need to know your stuff, that
is GAAP (generally accepted accounting principles), you need to
be conversant in internal controls–and today most organizations
see accountants in the finance function as their business partners.
They’re
asking them for advice, not just about debits and credits, but how
should a process be organized, how should it be run, where does
it stop and start. The accountant’s
role is much broader than it’s
been before.”–Robert
Hirth, managing director and Internal Audit leader, Protiviti
“The
‘nonspecialist
specialist’–that
is, someone who is enough of a generalist and smart enough to work
in a lot of different areas–is going to be a very valuable person.”–Dennis
R. Beresford, Ernst & Young executive professor of
accounting, University of Georgia, and former chairman, Financial
Accounting Standards Board (FASB)
“The
role of controller has taken on huge prominence. … More controllers
are being promoted to CFOs, and CFOs are being promoted to CEOs.”–Colleen
Cunningham, president and CEO, Financial Executives International
(FEI)
Lifelong learning
“Certifications...provide
a level of expectation that the person who carries the certification
is competent to carry out the type of work that is required.”–Paul
A. Sharman, president and CEO, Institute of Management
Accountants
“In
the last four or five years curriculum has changed in dramatic ways.
Nowadays, we see most universities adding classes in the area of forensic
accounting or the study of fraud, operational auditing, international
accounting, and there is an undercurrent in all classes of a renewed
emphasis on ethics and helping the students to understand what their
real role is with respect to society.”–William
F. O’Brien,
MBA, CPA, lecturer, College of Business, San Jose State University
and Leavey School of Business, Santa Clara University
Skills in demand
“I
think clients are a lot more technologically savvy than they used
to be. It doesn’t
mean that accountants need to communicate less with clients, but
it does mean that they’re
going to be communicating with clients on a totally different level.”–Ilene
Eisen, CPA, CITP, California State Society of CPAs, Silicon
Valley San Jose Chapter
“You
have to be able to participate in cross-functional teams. For instance,
if you’re
implementing a new software package within your corporation, you
need to be able to take, from an accounting perspective, what we’re
trying to do and communicate with the IT department and all departments.”–Paul
C. McDonald, executive director, Robert Half Management
Resources
“The
ability to communicate concepts is key. And the bottom line is the
way people communicate will determine how high they can rise in
their organizations.”–Mark
T. Bradshaw, Ph.D., CPA, associate professor, Harvard Business
School
Flexible work environments
“Companies that create
an entrepreneurial and flexible culture–one that puts employees
in charge of their own careers–will attract and retain a motivated
and diverse workforce. The CPA profession is in the midst
of a culture shift that is empowering professionals to take charge
of their future and map out a career that fits their unique needs
and capabilities.”–Leslie
Murphy, vice chair, American Institute of Certified Public
Accountants and group managing partner, Plante & Moran, PLLC
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