The theme of the Northeast CPE Conference is "Today You Can See Tomorrow". Tom Hood is the opening presentation where he will focus on the forces affecting the CPA profession and set the context for the changing world of CPE (Continuing Professional Education). The theme is Leadership in the New Normal and how to lead in turbulent times.
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Professional Issues Update - Leadership in the New Normal
1. Today You Can See Tomorrow
Northeast CPE Conference - 2011
Professional Issues Update
Leadership in the New Normal
Tom Hood, CPA.CITP
Maryland Association of CPAs
Business Learning Institute
1
2. Thought Leader in Leadership - Learning - Technology
âWith a social media outreach in the tens of thousands, Hood is well
Tom Hood known for his pioneering use of Second Life, multimedia and social
CPA.CITP networking tools to communicate and educate.â That is what Accounting
Today magazine said in their 2010 proďŹle of Tom as one of the Top 100
BIO Most InďŹuential People in the CPA profession (his sixth time).
Tom is best known for his role in helping CPAs âshape their futureâ through his work at
the Maryland Association of CPAs and the Business Learning Institute, a center for the
tom@macpa.org development of leadership and strategic thinking skills for CPAs. He stands out in three
areas, leadership, learning, and technology.
(443) 632-2301
He was recently named as one of the Top 25 Thought Leaders in Public Accounting
Web Technology by CPA technology Advisor, one of the Top 25 Online InďŹuencers in Talent
Management by HR Examiner and as one of the Top 100 Most InďŹuential People in the
CPA Profession by Accounting Today Magazine (sixth time in 2010).
www.macpa.org
www.bizlearning.net Tom and his team have facilitated and taught the Major Firms Group (Top 100 CPA
ďŹrms) for the AICPA, the AICPA Leadership Academy and facilitated strategic plans with
numerous national AICPA committees and leading CPA ďŹrms from all over the US, along
Blogs with corporations and non-proďŹts. Tom also co-authored BLIâs i2a - Insights to Action a
strategic thinking system that is used to cultivate leaders and a strategic planning process
www.cpasuccess.com to help organizations navigate todayâs permanent whitewater environment.
www.bizlearningblog.com
He is a nationally recognized author, speaker, and consultant. Tom and the MACPA have
www.cpalegislativeinsider.com been featured in the Journal of Accountancy, Accounting Today magazine, and
www.slacpa.org AccountingWeb. He also won the AICPA Special Recognition Award for his
www.cpaisland.com contributions to the profession leading the CPA Vision Project in 2003. He is also
considered as a thought leader in the Association Community speaking at the
DigitalNow Conference and the ASAE (American Society of Association Executives)
Social Media Tom likes to say much of his success as a CPA is due to membership in associations. He
has been an active volunteer since starting his career. He has been past-president of the
www.twitter.com/tomhood
Maryland Association of CPAs (1993-1994) and currently on the AICPA CPE Advisory
www.linkedin.com/in/tomhood Committee. He has served on several key national committees - the AICPA Enhanced
www.facebook.com/thoodcpa Business Reporting Committee and AICPA Special Committee on Mobility. He is also a
http://www.slideshare.net/thoodcpa member of the ASAE, World Future Society in addition to the AICPA & MACPA.
http://www.youtube.com/user/
In addition to his history as an association executive and CEO, Hood has experience as a
thoodcpa
high level executive in industry, speciďŹcally as treasurer and CFO of Bryn Awel
Corporation, a privately owned $75 million highway construction company.
Second Life He is a graduate of Loyola College (B.A. in Accounting) and has a Masterâs in Finance
SL Rocky Maddaloni (Real Estate) from Johns Hopkins University and a Masterâs equivalent in Information
http://slurl.com/secondlife/CPA Systems from the University of Baltimore. He also obtained the CertiďŹed Information
%20Island/146/189/21/ Technology Professional (CITP) certiďŹcation from the AICPA.
3. The recession is over? Many of our CPAs
are continuing to see rough seas ahead
2
4. CPAs and
businesses are
feeling
overwhelmed by
the rapid and
turbulent pace of
change
5. You would like to be ahead of the waves
instead of being crushed by them
17. A useful framework toÂ
understand the CPA profession
The CPA profession is part of the bigger infrastructure
that supports the US free market system. Like the pipes under
urban streets, it is often invisible until it breaks.
18. The (infra) Structure of the CPA Profession
Federal & State Laws & Regulations
â SEC, DOL, Treasury, GAO, PCAOB
CPA Profession Standards â AICPA &
FASB, GASB, FASAB, IASB
State CPA Statutes (Law)
State Boards of Accountancy issue licenses and regulate CPAs
20. What did we do when you were forced
to have a license in every state you file
A
taxes in? WA
MT ME
VT
ND
K
OR MN NH
ID
SD WI
WY NY *MA
MI
⢠Collaborative effort with AICPA â NE IA *PA CT RI
NV OH
CPA/SEA â NASBA & State CPA
CA
UT
CO
IL IN
WV
DE NJ
VA
KS
HI Societies MO KY
NC
MD
TN DC
⢠47 states passed legislation in three
AZ
NM
OK
AR SC
(3) years MS AL *GA
TX LA
⢠Maryland enacted it in 2008 FL
Awaiting Governor Signature - 1
PR
CPA Mobility Legislation Pending - 2
GU
U.S. VIRGIN ISLANDS
CPA Mobility Enacted 46
* CPA Mobility Enacted Only for
Other Mobility States â GA, PA, MA
19
In Process
25. Another way to look at standards & oversight
Public Company Private Company Intâl Company
Financial SEC FASB IASB
Reporting
FASB PCFRC IFRSÂ &Â SME
Audit /Attest
AICPA
Performance
Standards
PCAOB ASB, ARSC, PRB
IAASB
Code of AICPA AICPA
Conduct
PEEC PEEC
IFAC
CPA
State Oversight & Enforcement of CPA License
Licensure
29. Growth is projected to come from
overseas for the next five years while the
US remains flat
30. Priority #1 Exports by Small to Medium
Enterprises (SMEâs)
⢠33 % shipments
overseas by UPS
⢠25% of small
practices had
international clients
⢠US targets 100%
increase in exports
by SMEs
43. Workforce & Demographics â Are youÂ
ready for the shift change?
These guys are retiring These are the
new workers
These are making the
purchasing decisions
Facebook
Email
Generation
Generation
58. Five Qualities of Extraordinary Leaders
1. Sight - Ability to see emerging
patterns and shift perspective
when necessary
2. Insight - Ability to learn faster
than the rate of change in your
industry
3. Create - Ability to think
strategically and creatively to
gain insights that create new
opportunities
4. Communicate - Ability to
collaborate inside and outside
your organization and to build
and sustain social networks of
people engaged in the work
5. Inspire â Ability to mobilize
support and engage others to
join you in ACTION