It has been a busy few weeks of meetings. First, I attended the AICPA Leadership Conference and Council Meeting in Phoenix and then closer to home, I attended a session of our Young and Emerging Professionals Committee where they strategized about future direction and activities for TSCPA to serve this growing and important member segment.
A major impression I was left with after participating in these various sessions was that the accounting profession is in good hands (apologies to Allstate) and is preparing well for its future. Sure, everyone is sort of down right now because of the bad state of the economy and fear of what the future might bring. But while we can’t absolutely predict or shape our future, we can certainly try to be prepared for it, and that preparation is taking place on several levels within the profession.
At the AICPA meeting, we were updated on the AICPA Horizons 2025 Project. This effort was designed to look out into the future (15 years) and provide a roadmap for the profession to help maintain and achieve success. The Horizons Project, with input from thousands of CPAs from around the country, identified the core values and core competencies of the profession.
Core Values: integrity, competence, lifelong learning, objectivity, commitment to excellence, and relevance in the global marketplace.
Core Competencies for CPAs to thrive in the future: communication skills, leadership skills, critical thinking and problem-solving, anticipating and serving evolving needs, synthesizing intelligence to insight, and integration and collaboration.
Some of the key learning points from the Horizons Project are:
- It is a small world after all – every business is becoming global.
- The future is here – embracing the future now will ensure viability in the long run.
- Change is inevitable – technology already is changing the way we work – and will continue to do so.
- Generations are working side by side – Baby Boomers are not retiring and Millennials are bringing a new set of skills and ideals to the workplace.
I got to see some of these Millennials in action at a strategic planning session of TSCPA’s Young and Emerging Professionals Committee this week. They spent a day talking about the strengths and weaknesses of this generation and how TSCPA could utilize their talents to make the Society a better organization that more appropriately serves their needs. The dialogue and brainstorming that took place at this session was impressive. It is clear that this generation is bright and motivated to succeed.
In sports, you need to have a good game plan and good players to win. I think the same applies to the profession. The Horizons Project is the game plan for the profession and our young CPAs are the players we will have to execute it. In looking at both, I like our odds for the future.
(As I write this blog, it is the afternoon before game six of the World Series. So I would be remiss if I did not give a shout out to the American League Champions. Go Rangers!)