Artificial intelligence. Blockchain. Automation. These are terms CPAs have been seeing and hearing ad nauseam over the past couple of years. As the Paul Reveres of the accounting profession proclaim loudly and repeatedly that “The robots are coming! The robots are coming!”, what exactly should CPAs be doing now to prepare? That question was at the heart of the discussion during the JofA’s 2019 Accounting Technology Roundtable, which featured three of the profession’s leading tech experts.
- David Cieslak, CPA/CITP, CGMA, chief cloud officer and executive vice president with business-consulting firm RKL Solutions and a popular accounting conference speaker best known for his Inspector Gadget keynotes.
- Liz Mason, CPA, founder and CEO of High Rock Accounting, an Arizona-based firm that specializes in using “cutting-edge technology” to enhance clients’ accounting operations.
- Amy Vetter, CPA/CITP, CGMA, a keynote speaker and business adviser who is CEO of The B3 Method Institute, Technology Innovations Taskforce leader for the AICPA Information Management and Technology Assurance (IMTA) Executive Committee, and author of the book Integrative Advisory Services: Expanding Your Accounting Services Beyond the Cloud.
As in years past, the tech roundtable covered a significant amount of material — enough to easily fill two podcast episodes. Thus, we are presenting the 2019 roundtable in two parts. The topics covered in Part 1 are listed below. Part 2 delves into topics such as technology’s impact on leadership and how well prepared accounting students are coming out of school.
What you’ll learn from this episode:
- Which technology increased the efficiency of Liz Mason’s team by 40% in the last couple of years.
- Which tool has the potential to save accountants countless hours recording GAAP transactions.
- Which parts of the accounting profession are on track with technology updates, and which parts are at risk of getting left behind.
- The three steps accounting firms and finance departments should take to keep pace with technology advancements.
- Why and how people in accounting need to shift their mindset regarding which skills to learn and develop.
- The most important thing accountants can possess today to prepare for the future.
Play the episode below:
To comment on this podcast or to suggest an idea for another podcast, contact Jeff Drew, a JofA senior editor, at Jeff.Drew@aicpa-cima.com.