Episode description

In today's show, Rob Brown interviews Steve Cox to explore the current state of the accounting profession, highlighting both the challenges and opportunities it faces. Key themes include the impact of technology, staffing shortages, and changing client expectations. The discussion emphasizes the need for accountants to adapt to these changes, particularly in terms of technology adoption and mindset shifts. The speakers provide insights into how firms can navigate these challenges and leverage technology for growth and efficiency.

Key takeaways

• The accounting profession is at a crossroads with both opportunities and challenges.
• Client expectations have significantly increased post-COVID, demanding faster responses and more technology support.
• 42% of accounting firms are turning away work due to staffing shortages.
• There is a growing demand for accountants as trusted business advisors.
• Technology is reshaping compliance and service delivery in accounting.
• A mindset shift is necessary for accountants to embrace technology effectively.
• Firms need to balance technology adoption with the right mindset for success.
• The future of accounting will heavily rely on digital transformation and technology integration.
• Accountants must focus on building a sustainable talent pipeline to address shortages.
• Strategic use of technology can drive growth, productivity, and enhance exit strategies for firms.

Watch the show with graphics and slides on youtube here: https://youtu.be/B33jPdNqOEY

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The Accounting Influencers Podcast, hosted by Rob Brown, is one of the world's leading shows for accounting leaders, professionals, finance specialists, software vendors, tech providers and influencers.

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ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk

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