Accounting Influencers Podcast Rob Brown (Accounting Influencers Roundtable - AIR)

Is the accounting profession facing an identity crisis? Can it adapt to meet the demands of a rapidly changing business landscape?
Rob Brown brings together a panel of industry experts to discuss the future of accounting. Jeff Phillips, Maureen Dillmore, Samantha Louis, and Sandra Wiley share their perspectives on the challenges and opportunities facing the profession.
The panelists share their thoughts with various topics, including the talent shortage, the impact of technology, the changing business model, and the need for a rebrand of the accounting profession. They discuss the importance of work-life balance, the role of private equity, and the need for firms to adapt to survive in a competitive landscape. The conversation also touches on the potential of AI, the importance of strategic technology adoption, and the need for better compensation models to attract and retain talent.
Key Takeaways:
✓ The accounting profession needs to rebrand itself to attract new talent
✓ Firms need to adapt their business models and embrace change to survive
✓ Technology integration and strategic adoption are crucial for future success
✓ Work-life balance and flexible work arrangements are becoming increasingly important
✓ Private equity is reshaping the accounting firm landscape 
Quotes:
"Remote work is a great thing for our profession." - Jeff Phillips
"We need to get over the idea that you can't have a work-life balance if you work for an accounting firm." - Samantha Louis
View this episode in video on YouTube here: https://youtu.be/ZHg0IIw-wyU
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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.
Thanks to our sponsors:
ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com
ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk
If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.
https://www.linkedin.com/in/therobbrown
You can also check out all shows on the Accounting Influencers YouTube Channel:
https://bit.ly/AI-youtube

Is AI reshaping the accounting world? How can accountants harness the power of ChatGPT through prompt engineering?
Rob Brown sits down with Mark Wickersham, an expert in prompt engineering and AI applications for the accounting industry. They discussed the world of ChatGPT, exploring its potential to revolutionize accounting practices and the crucial skill of prompt engineering.
Mark Wickersham shares his journey with ChatGPT, emphasizing the importance of asking better questions to get better answers. He introduces the concept of prompt engineering as a vital communication skill in the AI era. 
The discussion covers various aspects of crafting effective prompts, from specifying roles and formats to considering the intended audience. Wickersham also provides practical examples of how accountants can leverage ChatGPT for tasks ranging from financial analysis to content creation, highlighting the tool's potential to dramatically increase productivity and enhance client services.
Key Takeaways:
Prompt engineering is essentially communication with AI systems Good prompts include specifying roles, response formats, and audience considerations ChatGPT can be used for financial analysis, research, and business advisory in accounting firms Mastering prompt engineering can save hours of work and open new opportunities for accountants It's not AI that will replace accountants, but how competitors use AI that may make others irrelevant
View this episode in video on YouTube here: https://youtu.be/KTS58DjGvsg
◣━━━━━━━━━━━━━━━━━━━━◢
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.
Thanks to our sponsors:
ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com
ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk
If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.
https://www.linkedin.com/in/therobbrown
You can also check out all shows on the Accounting Influencers YouTube Channel:
https://bit.ly/AI-youtube

Is the accounting profession facing an existential crisis? How can accountants stay relevant in a rapidly changing world?
Rob Brown brings together three industry experts to discuss the future of accounting and the challenges facing the profession. Laura Day-Henderson, Michael Hsu, and Alan Morgan share their insights on the threats to accounting, the resistance to change within the industry, and the need for a shift in focus from compliance to advisory services.
The panel explores the role of technology, talent acquisition, and education in shaping the future of accounting. They discuss the importance of soft skills, the need for a more entrepreneurial mindset, and the potential for accountants to provide tremendous value to businesses. The conversation also touches on the role of professional bodies, the impact of AI, and the opportunities for specialization within the field.
Key Takeaways:
Relevancy is a major challenge for the accounting profession Resistance to change is holding accountants back from embracing new technologies and practices There's a need to shift focus from compliance to advisory services and providing value to business owners Education and training in technology, including AI and coding, will be crucial for accountants in the future The accounting profession offers diverse opportunities for specialization and passion-driven careers 
Quotes:
"I think the biggest threat to us is ourselves. We have a resistance to change." - Laura Day-Henderson
"We need to start seeing the application of accounting to achieve dreams, aspirations of businesses, or even personal lives." - Michael Hsu
You can watch this episode and more on our YouTube Channel
https://youtu.be/piLILTD0rnc
Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers
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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
◣━━━━━━━━━━━━━━━━━━━━◢
Thanks to our sponsors:
ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com
ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk
If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.
https://www.linkedin.com/in/therobbrown
You can...

Is the accounting profession facing an existential crisis? Or is it on the brink of unprecedented opportunities?
Rob Brown assembles a panel of industry experts to dissect the current state and future prospects of the accounting profession. Jean Caragher, Jeremy Clopton, Rick Telberg, and Tamera Loerzel bring their wealth of experience to the table, offering insights on everything from talent shortages to technological disruption.
The conversation delves deep into the challenges facing accountants today, including the struggle to attract new talent, the need for a shift in business models, and the impact of remote work. However, it's not all doom and gloom. 
The panelists also highlight the immense opportunities available to those willing to embrace change and innovation. They discuss the importance of compassionate leadership, the need for better metrics beyond billable hours, and the potential for accountants to position themselves as true business advisors.
Key Takeaways:
The accounting profession needs to address the talent shortage by rethinking education requirements and work culture Remote work is here to stay, and firms need to adapt their policies to attract and retain talent The partnership model in accounting firms may be outdated and needs to be reevaluated Technology should be seen as an enabler for better processes, not just a solution to pain points The future of accounting lies in advisory services and helping businesses achieve their goals
Quotes: 
"Complacency is one of the threats that we often run into." - Tamera Loerzel
"Every accountant is an entrepreneur." - Rick Telberg
"Let's stop arguing about it and fighting it and just get to work." - Jeremy Clopton on remote work
"We need to focus on results-based metrics and what are the deliverables." - Tamera Loerzel
"The CPA brand is one of the best in the world." - Rick Telberg
You can watch this episode and more on our YouTube Channel
https://youtu.be/SUhzVy194H0
Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers
◣━━━━━━━━━━━━━━━━━━━━◢
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
◣━━━━━━━━━━━━━━━━━━━━◢
Thanks to our sponsors:
ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com
ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk
If you'd like to sponsor the show and elevate your brand...

Is artificial intelligence overhyped, or will it revolutionize the accounting profession? How can accountants prepare for the AI-driven future?
Rob Brown interviews Mark Wickersham, a veteran accountant and AI enthusiast, about the impending impact of artificial intelligence on the accounting profession. Wickersham predicts significant changes in the industry by 2030, including the automation of bookkeeping and tax return preparation. He highlights the rapid advancements in AI technology across various sectors and explains how these developments will inevitably transform accounting practices.
The discussion covers the current state of AI adoption in accounting firms, the potential of tools like ChatGPT, and the importance of embracing new technologies. Wickersham emphasizes the need for accountants to focus on creating value for clients beyond traditional compliance work and advocates for value-based pricing models. The conversation provides valuable insights into how accountants can prepare for and thrive in an AI-driven future.
Key Takeaways:
AI will significantly impact the accounting profession by 2030 Bookkeeping and tax return preparation may become automatedAccountants need to embrace AI tools like ChatGPT Firms must find new ways to create value for clients Value-based pricing is crucial in the age of AI 
Quotes:
"Data's where the power is. Data's where the money is." [00:11:50]
"Productivity goes through the roof when we use it, when we use it properly." [00:14:30]
You can watch this episode and more on our YouTube Channel
https://youtu.be/MnEXckAjVZU
Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers
◣━━━━━━━━━━━━━━━━━━━━◢
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
◣━━━━━━━━━━━━━━━━━━━━◢
Thanks to our sponsors:
ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience seamless scalability and expert support. Visit advancetrack.com and elevate your practice today. https://www.advancetrack.com
ACCOUNTEX. Bringing the accounting world together with UK and international events for the accounting and tech world. https://www.accountex.co.uk
If you'd like to sponsor the show and elevate your brand with our audience, reach out to show host Rob Brown on LinkedIn and his team will reach out to fix up a chat to explore.
https://www.linkedin.com/in/therobbrown
You can also check out all shows on the Accounting Influencers YouTube Channel:
a href="https://bit.ly/AI-youtube" rel="noopener...

Host Rob Brown is joined by Sue Coffey, CEO of Public Accounting at the American Institute of CPAs (AICPA), and Lexy Kessler, Partner at Aprio and Chair of the AICPA's National Pipeline Advisory Group (NPAG). They look into the alarming talent shortage facing the accounting profession and the potential solutions proposed by the NPAG.
Lexy and Sue discuss the overwhelming evidence pointing to a significant talent pipeline issue in accounting, including declining enrolment in accounting programs, fewer students pursuing the CPA credential, and challenges in retaining young professionals in their first five years of employment. But can the profession overcome this challenge? Rob, Sue, and Lexy explore the root causes, such as the profession's perceived image, the cost and time commitment of education, and the need for evolving business models at accounting firms.
The NPAG's findings underscore the urgency of addressing the talent pipeline issue collaboratively, involving stakeholders from academia, regulators, state societies, and the profession itself. Sue and Lexy share their optimism that by implementing the recommended solutions, the accounting profession can overcome this challenge and attract the talent required to thrive in an ever-evolving business landscape.
"We are a profession that communities, businesses, and economies need, and we just need to address our talent shortages and adapt." - Sue Coffey
"It's not just Debits and credits to that point. It's really about the business person piece of it and the different scenarios and the strategy behind the numbers as well. So there's much more to it than, than processing or, or producing a product and that's it. It's much, much more than that." - Lexy Kessler
Key Takeaways:
The accounting profession is struggling with a talent pipeline shortage, but it's not "withering on the vine" as some suggest. - Sue Coffey
Improving storytelling and celebrating the profession's impact is crucial to attract younger generations. - Lexy Kessler
The cost and time commitment of education, especially for socioeconomically disadvantaged students, is a significant barrier to entry. - Sue Coffey
Firms need to evolve their business models to provide a better experience for young professionals in their first five years, addressing issues like excessive hours and meaningful work assignments. - Sue Coffey
Modernizing the CPA licensure process is a long-term goal to ensure the profession remains sustainable and relevant in the future. - Lexy Kessler
You can watch this episode and more on our YouTube Channel
https://youtu.be/JaLe1nq9lk4
Join the Accounting Influencers community and get invitations to our international speed networking events to build your personal brand and network in the accounting, finance and tech world: https://www.linkedin.com/company/accountinginfluencers
◣━━━━━━━━━━━━━━━━━━━━◢
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
◣━━━━━━━━━━━━━━━━━━━━◢
Thanks to our sponsors:
ADVANCETRACK OUTSOURCING. Transform your accounting firm with AdvanceTrack. Our top-tier offshoring solutions free your team from mundane tasks, allowing you to focus on growth and client engagement. Experience...