‘Next Gen’ CPA Firm? “Now We’re Talking…”

…says famed practice management consultant Rita Keller.

Talking about “New Rules for the Next Generation Accounting Firm,” Rita writes in Comments:

Now we’re talking. I absolutely agree that in the next 10 to 15 years (probably even sooner) we will not recognize the CPA firm of today.

Keller

CPA firms have, and continue to, evolve – especially in the use of technology. However, it has been a fairly slow and methodical change. The progressive partners often have to drag the old timers along and that’s hard work. The least the slow-adapters could do would be to pick up their feet (not drag them in the dust to slow things down).

It will take better, smarter, more proactive management from all owners, not just the managing partner. While CPA leaders are indeed very smart and caring human beings and great advisors to business owners, most of them have never received advanced education or even CPE in advanced people skills (soft skills, like listening, coaching, motivating and mentoring). A big factor, just my opinion, is that they absolutely LOVE the numbers, the tax work and auditing. They do not LOVE dealing with “green” new hires.

As the Boomers retire, the next generation of leaders will create organizations that are more nimble and open to continual change and new ideas. They will not get new clients at a Chamber networking event, they’ll get them from Facebook and from blogging. They will keep in touch with referral sources on-line, not at lunch.

To play upon your comment about Blumer’s father, the evolution will occur naturally and rather slowly and the current model will become extinct when some current owners take a hike (no disrespect intended).

As you can tell, I feel strongly about this. I’m going to blog about it today.

And she does, read about the “Possibilities” here…

CPAs Grapple with New Regulatory Risks… and Rewards

Which side of the equation would you rather be on?

Reeves

When James F. Reeves talks, people listen. Not only is he a brilliant forecaster for the profession, but as  senior vice president for product development at Thomson Reuters’ PPC, he can help make the future happen.

Today he forecasts a “tsunami” of new regulation following the credit debacle, reckoning:

The volume of new regulation affecting American business is growing exponentially, and while regulatory compliance can be both costly and painful, noncompliance is a significant risk, a fact not lost on senior executives. Nevertheless, most companies have not institutionalized an enterprise-wide risk management system. The maturation of enterprise risk management into a more strategic governance, risk management, and compliance function provides a great avenue for CPAs to expand their role and sphere of influence within their organizations. [via James F Reeves: CPAs And The Regulatory Tsunami.]