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MACPA PIU 2011 - Focus on the Future


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Short version of MACPA's popular PIU (Professional Issues Updates) which is part of our 24 hour free CPE offerings to members.

This slide deck covers the mega-trends and issues beyond the technical updates identified in the CPA Horizons 2025 Project. It covers leadership in the future and updates the original CPA Vision 2011 Project

Published in: Business, Education

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MACPA PIU 2011 - Focus on the Future

  1. Today You Can See TomorrowThe Future of our Profession is just over the Horizon Professional Issues Update Leadership in the New Normal Tom Hood, CPA.CITP Maryland Association of CPAs Business Learning Institute 1
  2. “# 1 reason organizations fail isthat they miss the weak signalsof disruptive change.” – Andrew Zolli
  3. 4x=18907x=1670
  4. Why we are here? The tornado of changes from CPA Vision Project circa 2000
  5. We can choose to harness the winds of change The tornado of changes from CPA Vision Project circa 2000
  6. From feeling “lonely at the top”
  7. To the wisdom of the crowd
  8. What CPAs have said abut the future:1. Changing demographics - Aging workforce, diversity, 4 generations in the workplace2. Increased globalization, economic shifts and increasing competition3. The technological revolution - cloud, social, big data & XBRL4. Issues around Information Security, Privacy & data integrity5. Shift to consumer and employee power (from push to pull)6. Changes in the way we communicate - mobile, txt, skype7. Work-life challenges or conflict - "do more with less", 24/7 work8. Information Overload - filter failure9. Increasing complexity of rules and standards (IFRS, GAAP, PCAOB, SEC)10. Economic uncertainty - deficit, debt and pressure on government
  9. American Institute of CPAs
  10. The single most important trend in the world today "It starts with the fact that globalization and the information technology revolution have gone to a whole new level. Thanks to cloud computing, robotics, 3G wireless connectivity, Skype, Facebook, Google, LinkedIn, Twitter, the iPad, and cheap Internet-enabled smartphones, the world has gone from connected to hyper-connected.” - Thomas Friedman NY Times author The World is Flat
  11. Four Generations in the Profession
  12. The generation gap is widening
  13. My take on generations• Major issue that needs to be dealt with• Mutual understanding and communication – bi- directional not one way• Accept differences and find the opportunities• X & Y are about time Boomers are about relationships• Reverse mentor on technology and communication• Engagement & participation are key
  14. LeadershipIs this working for you?
  15. How is leadership changing?“What got you here won’t get you there.” – Emmanuel Gobillot - Leadershift American Institute of CPAs
  16. Leadership is Connect & Collaborate!From: Command & ControlTo: Connect & Collaborate
  17. What hasn’t changed about leadership?• Engagement• Alignment• Commitment• Accountability“First I get all of my men facing the same direction.” - Napoleon
  18. As knowledge moves from stocksto flows, how do we stop our inventory from becoming obsolete? Answer: The Collaboration Curve
  19. Finding Your Edge… • Strategic thinking – all of the time • Keep your L >= C • Make your thinking visible to others • The power of We – Collaboration • Innovate by finding your edge (Strengths,, Opportunities, Positivity)
  20. A leader’s job is to…Provide hope &inspiration!Tom Hood & Gretchen Pisano
  21. Tom Hood, CPA.CITP CEO Maryland Association of CPAs Business Learning Institute (443) 632-2301 E-mail Web http://www.macpa.orgBlog http://www.cpasuccess.comhttp://www,