FAST FORWARD Building the Profession of Tomorrow

Report on Council’s Feedback on Strategic Implications for the ProfessionTommye Barie, CPAVice Chair of the BoardSpring Council | May 18-20, 2014

Economic & global impact Risks

• Too USA focused; business & profession needs to be global

• Smaller firms challenged to compete globally

• Keeping up with pace of change Opportunities

• New services, specialties, clients• Positioning CPA & CGMA as

premier global designations

Effect of tech on compliance Challenges

• Commoditization and outsourcing of lower end work

• Rising security/privacy concerns• Staying current and relevant

Opportunities• Focus on higher-value services• Support clients/employers with

data and analytics• Faster delivery of client services

Future of Learning takeaways Change in learning is inevitable Rise of competency-based models Technology enables more

effective and efficient learning Time-tested methods will remain Challenges

• Transitioning to a new model• Defining and measuring

competencies & behaviors• Gaining buy-in from regulators

Key trends to watch Globalization – supporting clients

and employers Regulatory overload and

uncertainty Talent

• Multiple generations in the workplace

• Appealing to younger CPAs• Diversifying profession• Retention and development

Copyright © 2014 American Institute of CPAs. All rights reserved.

Thank you!

2014 AICPA Spring Council

Scottsdale, ArizonaMay 18-20, 2014