Dealing with disruption is not new for CPAs

Featuring Kimberly Ellison-Taylor, CPA, CGMA, executive director of finance thought leadership for Oracle’s Cloud Business Group and past chairman of the AICPA and the Association of International Certified Professional Accountants


Transcript:

When you look at disruption, and we talk about disruption on a frequent basis, the accounting profession is certainly experiencing its own share of disruption, and it happened quite a few years ago when TurboTax entered into the marketplace. I think our tax practitioners were the very first ones to start realizing that people were empowered to do their own taxes. Thus, that meant the amount of guidance that we provide needed to be at a greater level, more depth, more breadth of opportunities to really share information with our clients, our customers, and our business partners.

When you think about disruption and think about consumer empowerment, it also means that there are other industries, other businesses related or not that may think that this is a viable profession that they’d like to enter. We can certainly see that there will be opportunities that they may try to take advantage of, but we as accounting professionals, we have to get there first. We have to look around corners, we have to anticipate the future, we have to leverage technology, we have to bring everyone along, including all of the demographics and changes that we expect to see on the horizon.

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