What's keeping financial professionals up at night? MACPA got 30+ CFOs, controllers and other financial professionals from NFPs & Gov't together in a roundtable.
They heard from AICPA's Board member, Tom Foard (also a CFO) and MACPA's incoming chair, Anoop Mehta (also a CFO) and MACPA's chair of Biz/Ind, Joselin Martin (also a CFO) and then worked to identify the biggest issues and what MACPA can do to help.
2. Agenda
• Welcome & Introductions – Anoop Mehta,
Incoming Chair & Tom Hood, CEO
• History of the B&I Committee – Tom Foard –
MACPA Past Chair
• National B&I Perspective – Tom Foard – past
chair AICPA BIEC & member AICPA BOD
• Maryland Future Forums – Top Trends to
Watch – Joselin Martin – Chair MACPA B&I
Committee
• What’s keeping you up – trends & issues?
• What can MACPA Do to help?
3. National View – Tom Foard
Financial Reporting
• International Financial Reporting Standards
• Private Company Financial Reporting
Enterprise Risk Management
• Corportate Governance, Risk Management, Internal Control
• COSO Internal Control – Integrated Framework Project
Sustainability
• Triple Bottom Line (People, Planet, Profits)
• Services (Accounting, Reporting, Assurance)
Enhancing Member Value – Joint Venture Between AICPA and CIMA
• Chartered Global Management Accountant (CGMA)
• Advance the Science of Management Accounting
4. MACPA Future Forums -Top 10 Trends
- Joselin Martin
1. Pressures on Gov’t & rising deficit
2. Changes in learning – informal & on-demand
3. The cloud = flex, global, work anywhere
4. Increasing complexity, ambiguity & change
5. Globalization and economic shifts
6. Information overload
7. Shift to consumer power (push to pull)
8. Workforce, demographics, the “she” economy
9. Going mobile
10. Social media = business
11. Top 10 Issues Facing BizInd
1. Communicating effectively (new tools vs face to face)
2. Talent – Training – Succession Planning
3. Economic environment
4. Generational – Work/Life balance
5. Supply chain – rising costs
6. Strategic planning in uncertainty
7. Financial literacy about business
8. Increasing government regulations
9. IT security / privacy
10. Multi-tasking and increasing workload
12. What can MACPA do to help?
The group identified areas that
MACPA could help CFOs,
controllers and financial
professionals deal with the
pressing issues.
One major idea was to have
quarterly roundtables focused
on one of these main issues
with a facilitated discussion
afterwards. Most of the key
issues were already being dealt
with by MACPA.
The group emphasized the
importance of continued
advocacy at the federal, state,
and state board areas.
13. Refelctions
There is a certain felling of relief when you know that you are facing the same issues
as others in your Profession. That was definitely the feeling at the end of this
roundtable. It was almost therapeutic having engaging discussions with other
financial professionals.
14. Key events & dates
Government Contractor’s Conference - Sept 20, 2011 -Gaithersburg
Technology Conference - October 3, 2011 - Linthicum
CPA Day in Annapolis - Jan 18, 2012 -Annapolis
Business & Industry Conference - April 20, 2012 -Ellicott City
MACPA CPA Summit - June 11&12, 2012 - BWI
16. Tom Hood, CPA.CITP
CEO
Maryland Association of CPAs
Business Learning Institute
(443) 632-2301
E-mail tom@macpa.org
Web http://www.macpa.org
Blog http://www.cpasuccess.com
http://www,bizlearningblog.com
17. =
Leadership blogs:
www.cpasuccess.com
www.bizlearningblog.com
Follow me on:
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