Episode description

This engaging roundtable discussion explores the future of the accounting profession from multiple perspectives. Host Rob Brown is joined by Gary Shamis, Lexy Kessler, Roger Knecht and Calvin Harris to debate whether accountants need to change, examine threats and challenges facing the field, discuss making accounting an attractive career choice, and share bold predictions.

The panel acknowledges accounting is in flux, with technology, staffing shortages, and an increasingly transactional approach reshaping the profession. However, they see tremendous opportunity amid this disruption for those willing to adapt. Private equity investment, offshoring, and new firm models are expected, as well as a continued push to redefine accounting's relevance and enhance the pipeline of emerging talent.

Key Takeaways:

• The accounting profession is becoming more transactional and less relationship-oriented due to staffing constraints.
• Poor starting salaries compared to the significant educational investment required is a major threat hindering recruitment.
• There is a lack of consensus on what modern accounting roles entail, hurting the profession's branding and ability to attract newcomers.
• Technology skills will be essential for future accountants, but so will an ability to tell compelling stories about accounting's impact.
• Firms must evolve through potential private equity investment, offshoring, and new operational models to meet changing client and staff expectations.

"The sky isn't falling, it's just we're having to act and move."

- Roger Knecht

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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. To participate in our international virtual speed networking events for the accounting community, book your place at the next gathering. Great for building your personal brand and making valuable industry connections in return for a small donation to charity: https://accountinginfluencers.com/events

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