CEO Outlook | Summer 2023
Does the Accounting Profession Need a Summer Break?
Some rest and relaxation could bring fresh thinking for tackling our talent troubles.
Geoffrey Brown, CAE
President and CEO, Illinois CPA Society
Insights From Your President and CEO
For me, and I hope for you, summer offers much-needed space to renew, reflect, and refocus for the work ahead. It’s a time to create, review, plan, and improve upon what we’ve done in the past. During the summer, I like to focus on those areas and engage in the “think time” that’s critical to staying fresh. Of course, I also take a little time to relax and restore the all-important work-life balance!
Reflecting on everything I’ve experienced during my first six months with the Illinois CPA Society (ICPAS) makes this summer a little different. I spent that time meeting with firm leaders, CPA professionals, members of the academic community, our professional organization partners, and policymakers. This listening tour was extremely informative and rewarding for me, as I was able to gain insight into the perspectives, experiences, and needs of these audiences. Throughout all those conversations, a consistent theme came to my attention—the talent pipeline.
The last few years have ushered in feelings of uncertainty about the talent outlook for some professions, but feelings of optimism about the future for others. As you all know, the CPA profession falls into the former category. Our organization was one of the first to call attention to the declining talent pipeline and the contributing factors. That call has been echoed many times in the years since then with little agreement on how to confront the issues.
Luckily, the profession is aligning on the approaches necessary to help stem the tide and ultimately right the negative talent trend we’re collectively facing now. For example, AICPA recently unveiled its Pipeline Acceleration Plan that’s intended to identify ways to integrate the changing needs of new accounting recruits and young professionals, increase flexibility and accessibility in the CPA licensure pathway, and drive awareness of the wide range of career opportunities to inspire a more robust supply of new CPAs.
We know that no single solution will solve the profession’s talent issues. We also know that any actions taken to do so must maintain the rigor needed to protect the public while also being responsive to the next generation. Implementing long-term solutions to better attract and retain talent will require the entire profession to work together. Despite the gravity of the challenges we’re facing, I think it’s fair to say we’re in a good position to address them head-on.
ICPAS has shown its true value by being a thought leader in addressing many of the profession’s most important issues. We’ve done so by convening unique conversations and programs and, most importantly, by being unwavering in our mission to advance the CPA profession. It’s now time to lean into that as we focus on the current talent challenges.
Through the efforts of our team, as well as new partners, I’m confident we’ll be able to advance our mission and evolve how we think about the future of the profession’s talent needs. We know now isn’t the time to play it safe. It’s time to push past the status quo and take calculated risks. We recognize that this shift calls for fresh thinking and being bold and transformative. As we look to the future, we must broaden our thinking and embrace a challenger mindset. Are you with us?
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