Where are CPAs and where do they need to be?
The gap is widening between the skills business leaders are looking for in professionals and the skills accounting and finance professionals possess.
Our Agile Finance Revealed research showed that only 10% of finance teams have the skills necessary to support the organization’s digital ambitions. A similar skills shortage also likely exists within CPA firms.
So, what does this mean for you? It’s time to upskill. CPAs with digital intelligence — knowledge of new technologies (such as data analytics and automation) and an understanding of how to apply them — are well-positioned to bring incredible value to clients and employers. Plus, firms and employers are seeking talent with this unique skill set.
Here’s the good news. CPAs already have a head start. Your technical expertise and analytics skills, along with your knowledge of the business, make it relatively easy for you to learn and leverage data analytics skills to bring greater insights to those clients and organizations. Some of the data analytics skills you’ll need specifically include:
When it comes to data analysis, partnering with those outside your organization (like vendors and experts), as well as those inside (like IT and your research team), is the area of greatest opportunity for CPAs. These partners can help you identify and aggregate the right data sources so you can focus on analysis and insights.
Employers and firms don’t need you to take the role of information technologists or data scientists. They want you to be the champions of evidence-based decision-making. They need you to translate analytical insights to improve clients’ or the organization’s prospects, performance and compliance. CPAs also have the professional discipline and ethics necessary to help ensure data quality and security.
Growing your knowledge of data analytics will enhance your employability and value to your organization and clients.
To future-proof your career, you’ll need to develop an ethos of self-reliance, adaptability and lifelong learning start by downloading the free CPE Digital Mindset Pack offered to all AICPA® members. Check out additional free resources in the next section to get yourself up to speed.
