Financial Management (FM) magazine AICPA & CIMA

A single cybersecurity breach can cost millions of dollars, so it’s critical that companies take a proactive approach and commit to shoring up their defences by making informed decisions and investments. An updated CGMA cybersecurity tool provides a place to start.
Ken Witt, CPA, CGMA, AICPA & CIMA's associate director–Management Accounting Research and Development, joins the FM podcast to discuss the latest trends in cybersecurity and share details about what the recently released tool offers organisations of all sizes.
What you’ll learn from this episode:
·         How digitalisation sped up by the pandemic has accelerated cyber risk.
·         The stunning price tag of a security breach and the areas that are most vulnerable to breaches.
·         The unique challenges facing small entities, and a small step they can take to combat their concerns.
·         Top “amplifiers” and “mitigators” that finance decision-makers should keep in mind.
·         How the CGMA cybersecurity tool can help IT pros and non-IT stakeholders alike.

Productivity expert and author Hayley Watts discusses the reasons people struggle with productivity and why digital correspondence is, despite its advantages, creating a challenging environment for communication. 
Watts spoke at the UK and Ireland ENGAGE several months ago, and she offers tips to help leaders and employees to channel productivity into their working lives. 
Watts, a co-author of How to Fix Meetings: Meet Less, Focus on Outcomes and Get Stuff Done, explains why technology can sometimes be more of a hindrance than an aid, why less is more when it comes to setting priorities, and shares strategies we can use to “get in the zone” in an era of urgency and distraction.
What you’ll learn from this episode:
§  Three common reasons why people struggle to stay productive.
§  Why our reliance on digital tools to improve communication can be antithetical.
§  How leaders and managers can respond to cultures that are enabling burnout.
§  Why flexible working is a challenging balancing act.
§  How to get a better understanding of daily goals and priorities.

New research from AICPA & CIMA, together as the Association of International Certified Professional Accountants, and the World Business Council for Sustainable Development (WBCSD) found a disconnect between the way leaders operate in day-to-day business and the long-term strategic initatives that keep businesses relevant and competitive amid constant change and transformation. 
Peter Spence, associate technical director of management accounting at AICPA & CIMA, and Andy Beanland, a former consultant with the WBCSD, provide further insight into why business strategies are becoming increasingly complex, and why a holistic, adaptive approach to performance is necessary to set businesses up for long-term success in an era of disruption.
Resource page
AICPA & CIMA  
What you’ll learn from this episode:
§  How integrated performance management can help drive better business decision-making.
§  Some of the reasons businesses today may fail to fully execute their strategies.
§  Why silo mindsets make for weak management systems.
§   Analysis of the differences between weak-matrix and strong-matrix management systems.
§  The importance of adaptability and innovation in an era of change.
§  How to create a performance culture that engages workforces.

This episode of the FM podcast is the start of an occasional series on the show. That series is called Beyond the Code.
In this case, that means taking a close look at the CIMA Code of Ethics.
Xose Lumor, manager, Advocacy and Professional Ethics – Management Accounting at AICPA & CIMA, together as the Association of International Certified Professional Accountants, talks with disputes attorney Alastair Campbell, of the firm Level, about some of the ethical issues that accountants should be prepared to face. 
The vast majority of CIMA members comply with regulations, and misconduct is not the norm. But there are instances where ethical violations are reported or alleged. Campbell takes listeners through some of those examples and reminds accountants that being “unimpeachable in terms of your integrity” is one key way to make sure no ethics missteps occur.
Resources:
Campbell’s contact information: alastair.campbell@level.law and LinkedIn
Lumor’s contact information: Xose.Lumor@aicpa-cima.com and LinkedIn
More about Regulation 19 and the duty to notify

It makes sense that the themes emerging from the words of Phillipa Spicer, FCMA, CGMA, and Bruce Martin, ACMA, CGMA, are similar — they are sister and brother, both having ascended to CEO roles in the UK. Spicer set forward on a path to becoming a management accountant, and her younger brother followed.
In this conversation, hear about their early trips to the office while growing up in South Africa, the questions they got from students, and the advice they give about being your own self as a CEO.
What you’ll learn from this episode:
·       Martin and Spicer’s youth in South Africa (2:24).
·       The early exposure they had to office “work” (5:50).
·       Spicer’s reflection on “being really fortunate” to land a temporary role with Unilever (7:01).
·       How Spicer has applied her work in other sectors to the role as CEO of a charity (9:03).
·       Martin’s path to a role at Vodafone in the UK and then other businesses (12:26).
·       The top challenges that Spicer (17:42) and Martin (20:03) have overcome to make the move from finance leader to chief executive.
·       The siblings’ recall of speaking about career journeys with university students (Spicer at 22:25 and Martin at 24:57).
·       Advice from Martin (28:15) and Spicer (29:39) for aspiring CEOs.
·       Why Spicer advises budding leaders to “make your own kind of music” (30:54).

AICPA & CIMA research on the future state of the finance profession found emerging themes from global discussions with leaders around the world. Some of these themes include automation, hybrid working, sustainability, and moving beyond traditional finance roles.
Rebecca McCaffry, FCMA, CGMA, associate technical director at AICPA & CIMA, together as the Association of International Certified Professional Accountants, discusses the shift from traditional finance in a digital world, to a new era of soft skills as the value of people and connection takes focus.
What you’ll learn from this episode: 
§  How finance roles are becoming less fixed and more adaptable.
§  An overview of focus areas for management accountants and finance leaders across the globe.
§  The shift of focus from digital to soft skills, and why those skills are becoming more ingrained into the culture and priorities of accountants now.
§  How the younger generation is influencing change in the profession.