Embracing the FutureJuly 31, 2017
The CPA Horizons 2025 report culminated insights of CPAs on current and forecasted trends. Nearly 6,000 CPAs participated in the project, led by a powerful advisory panel.
The report concludes that the profession has a “bright future and will need to respond quickly and competitively to the shifting ground on political, economic, social, technological, and regulatory fronts.”
That sounds promising and vastly different from the gloom and doom of the automation shift we’ve heard so much about.
What’s the Difference?
According to the report, CPAs continue to agree that the profession’s purpose is “making sense of a changing and complex world.”
And the world keeps getting more complex, so by that logic, CPAs should be invaluable and protected from the threat of Blockchain and other automated technologies.
But in order for CPAs to remain relevant to their clients, they must be willing to diversify their core services. “Just tax” or “just audit” isn’t enough anymore. CPAs are still trusted advisors, and therefore must develop solutions to complex situations by evaluating information from multiple areas.
CPA Horizons closes with four very clear must-dos for CPAs. You must be:
- Open to change
Adaptation is Key to Surviving and Thriving
So to best serve clients, CPAs must reinforce their value by providing top-tier information and guidance. Be ready to address changes in the business landscape – and address them quickly. Data is available at the click of the button, and it is all too easy for clients to find it and make reactionary decisions. Strive to be proactive and position yourself as a thought leader with your clients.
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