Remote Work Opportunities, Office Space Optimization Combine for Improved Efficiency PAGE 11
Blaise Wabo: Accounting + Technology = Career Success PAGE 14
4 The Talent Pipeline: How Every CPA Can Help
Long a top concern for the accounting profession, the dwindling talent pipeline is the subject of the Accounting Talent Strategy Report, recently published by the National Pipeline Advisory Group (NPAG). The report analyzes the root causes of the issue and offers recommended next steps. In the first of a two-part series, learn what the COCPA is doing within the NPAG framework and how every CPA can play a role.
11 Remote Work Opportunities, Office Space Optimization Combine for Improved Efficiency
As work-from-home arrangements took hold during the pandemic and have significantly endured post-COVID, professional offices have increasingly resembled dusty Colorado ghost towns. A Denver-area practice administrator offers strategies for optimizing office space utilization through solutions such as hot desking, office hoteling, and maximizing the value of underutilized spaces and common areas.
14 Blaise Wabo: Accounting + Technology = Career Success
COCPA member Blaise Wabo’s career is an example of how accounting professionals can chart their own career path. By combining his family’s tradition of majoring in accounting with his own passion for technology, Wabo is taking his career to new heights.
24 Navigating Career Transitions: Strategies for Success
“Most accountants will change jobs seven or eight times over their career. I’ve seen people do it well and not so well,” says Jerry Maginnis, CPA, an author and retired KPMG partner. Whether they’re voluntary or involuntary, job changes happen. What can you do to make your next career transition a successful one?
NEWSACCOUNT
A publication of the Colorado Society of Certified Public Accountants
Vol. 70, No. 2 Fall 2024
Officers
Tobias "Toby" Clary, Chair Alexandra Tune, Vice Chair Jim Gilbert, Treasurer Diego Baca, Immediate Past Chair Alicia Gelinas, Secretary
Directors
Erin Breit, Kevin Gibson, Amy King, Lisa Kutcher, Patrick Lytle, Greg Pfahl, Tiffany Davis
Editorial Board
Isaac Adamu, Jack Allgood, Paul Elggren, Ken Fichter, Laura Theiss, Steve Van Meter, Michael West, Charlie Wright
Kelli Davis, Editor
Sarah Knight, Blue Ocean Ideas, Design
NewsAccount (ISSN #10899952) is published quarterly by the Colorado Society of Certified Public Accountants, 7887 E. Belleview Ave., Suite 200, Englewood, CO 80111. NewsAccount is published in Winter, Spring, Summer, and Fall and reports information, news, and trends in the accounting profession. The Colorado Society of CPAs assumes no liability for readers’ business decisions in reference to advertisements or other information included in this publication.
Membership dues include a $5.00 one-year subscription to NewsAccount 303-773-2877 • 800-523-9082 Fax: 303-773-6344
CONNECT WITH COCPA
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CHAIR
Leveraging Our Expertise to Be Change Agents
BY TOBY CLARY, CPA, CHAIR
We’re heading into the home stretch of this year’s presidential election, and there’s really nothing like all the chaos, excitement, and uncertainty that goes with this quadrennial event to demonstrate the important role that CPAs can – and should – play at every level in the legislative process. We have a great opportunity to leverage our expertise to be change agents in the places where decisions are made.
While many within our profession are now focused on federal-level activity and anticipating how the outcome of the presidential election may affect the sunsetting of the Tax Cuts and Jobs Act at the end of 2025, right here in Colorado there have been significant legislative and regulatory changes that also require our attention as accounting professionals.
Over my years of COCPA membership, I’ve become keenly aware of how important it is that our collective voice is heard at the Colorado State Capitol and with Colorado regulatory bodies.
Our ongoing collaboration with the Colorado Department of Revenue (CDOR) through the COCPA CDOR Working Group demonstrates the tangible impact of our volunteer involvement in advocacy. Together, we have driven meaningful changes to the K-1 filing process, secured additional guidance on complex laws, escalated practitioner cases for proper resolution, and gained support for adjusting TABOR refund claim filing deadlines. This partnership focuses on strategically assisting CDOR in implementing legislative changes that impact our businesses and clients. Good regulation and ease of compliance begins long before it arrives at the desk of regulators; it starts with those writing the laws. Therefore, outreach with state legislators is another important undertaking. With 100 members – 35 senators and 65 representatives – there’s a lot of ground to
cover, demonstrating the depth of our need for COCPA members to get involved and build relationships with their local legislators. Our goal is to help them understand how their decisions impact individuals, small businesses, and companies throughout the state.
There is always a need for the educated, rational guidance of CPAs. It’s critical that as an organization, we don’t just react to new legislation, but rather, we’re part of the conversation as legislation is being considered and drafted.
Remember, our Colorado legislators come from all walks of life. They’re not experts in GAAP or the tax code, and they might not even have a business background. We can proactively help guide legislation that is more client, business, and employer friendly, and serve as a resource when we’re asked for our reaction and position. In turn, our legislators can make better, more informed decisions, hopefully avoiding unintended consequences. The passage of the SALT Parity Act, which left the door open to much interpretation that wasn’t ultimately favorable to taxpayers, is one notable example. Had we been more involved on the front end of that bill, we could have explained our issues and concerns, and the language might have been changed prior to passage.
It can be difficult to gain the ear – and trust – of our federal legislators, but the individuals serving in our Colorado
House and Senate tend to be open to phone calls and meetings. As our local legislators, they’re working alongside us in our communities every day.
BECOME A CHANGE AGENT
While historically, a state CPA society the size of Colorado has been able to primarily rely on its CEO and a small group of volunteers to monitor pertinent issues and maintain relationships with the regulatory and legislative agencies needed to protect the CPA profession, the landscape has shifted to now require more resources to effectively advocate on all the issues that impact our profession. This is among the top priorities of the COCPA Board of Directors as we look to prepare the Society and its members for the future.
So, as we move through this election season and beyond, I ask and encourage you to reach out, build relationships, and share your expertise with your community.
The COCPA is expanding resources to support your role as a change agent. Visit the COCPA advocacy page to explore our initiatives, discover current opportunities for stakeholder feedback, access the legislative toolkit for grassroots advocacy, track monitored bills, and communicate the issues that
most matter to you with our COCPA team. You can also join the COCPA’s legislative efforts by donating to the CPA-PAC as we work to support as many candidates as possible who take a business-friendly approach to legislation, are receptive to listening and working with us, and are willing to learn more about the very complicated issues that have wide-ranging effects on Colorado’s citizens and businesses.
It can be touchy to discuss things like endorsements and PACs, but the CPA-PAC isn’t about pushing one person’s agenda or asserting individual influence. Pooling our donations helps us create an amplified, collective voice in matters that impact CPAs. Hear COCPA CEO Alicia Gelinas, CPA, describe how the CPA-PAC fuels the advocacy vehicle.
As CPAs, we share many mutual challenges and concerns, whether that’s simplifying the tax code and tax administration for businesses and individuals, addressing passthrough entity tax provisions and TABOR refunds, creating a desirable business climate in Colorado, or supporting CPA workforce development so that we can attract top talent. Each of these efforts is enhanced when we work together to elect candidates who support these same initiatives.
I encourage you – this fall and beyond – to support the COCPA’s efforts to build productive legislative relationships and promote a collaborative advocacy landscape by donating to the CPA-Political Action Committee. Your contributions are crucial for equipping and mobilizing our future advocacy efforts.
As CPAs, we can affect change.
Toby Clary is a shareholder with Soukup, Bush & Associates, CPAs, P.C. in Fort Collins. Contact him at toby@soukupbush.com
Watch cocpa.org for details on the second-annual PAC the House event, coming Jan. 23, 2025. Don't miss this opportunity to visit the Colorado State Capitol with other PAC supporters to experience the political process first hand and meet with legislators from both political parties on behalf of the accounting profession. For more information, contact Stephanie Bass at stephanie@cocpa.org.
UNITING the Profession to Strengthen the CPA Talent Pipeline
BY NATALIE ROONEY
This article is the first in a two-part series about the accounting talent pipeline and the COCPA’s efforts to address the issue. This article touches on the first two themes that emerged from the National Pipeline Advisory Group’s Accounting Talent Strategy Report, published in July 2024. A second article, slated for the Winter 2025 issue of NewsAccount, will address the remaining NPAG recommendations.
Headlines shout it, employees complain about it, social media amplifies it: A top concern for the accounting profession is the dwindling talent pipeline. The COCPA continues to lean into initiatives and solutions at both the state and national levels that aim to address growing concerns about the shortage of talent and ensure the sustainability of the future of the profession.
As part of the COCPA’s “Plan A” to address the talent shortage, which includes critical themes of Awareness, Advancement, Assistance, Advocacy, Acknowledgment, and Attraction, efforts in the last 12 to 18 months have heavily focused on increasing awareness and dialogue to help inform longer-term initiatives and solutions. COCPA efforts have included seeking feedback from members through the Talent Pipeline Roundtable Discussions; discussing challenges
and opportunities with members during the Better Together Tour at accounting firms, colleges, and universities around the state; engaging in various surveys and research studies like those prepared by the National Pipeline Advisory Group (NPAG), a report published by the Illinois CPA Society in partnership with state societies and the Center for Accounting Transformation, and targeted questions as part of a recent COCPA member survey.
The COCPA and its board of directors continue to engage in deep, collaborative discussions with the AICPA, NASBA, Colorado State Board of Accountancy, and other key stakeholders about collective solutions, including potential future licensure model changes.
TURNING FEEDBACK INTO MOMENTUM
There is significant forward momentum within the profession to solve pipeline challenges, and COCPA CEO Alicia Gelinas, CPA, says that member input and feedback are critical to the long-term success of any transformational pipeline initiative.
“While we have been having important discussions within our profession about potential solutions and ideas for changes to professional licensure, when it comes time to take action beyond our own circles, we need to convince legislators and others outside our profession, who may not fully understand the importance of these issues,” Gelinas says. “Having thoughtful reasons, analysis, witness testimony, and research to support our positions and recommendations will help us succeed. There are also many workforce-development programs that have evolved to address issues like ours. If we want accountants to be recognized and included in these initiatives, we must be ready to engage with more momentum.”
Gelinas adds, “In a political landscape that is known for its divisiveness, it’s more important than ever that we maintain our professional unified voice, which grows out of feedback and dialogue.”
Potential solutions resulting from these collective efforts have begun to emerge, many of which call for coordinated action and individual commitment where every CPA can help make an impact.
SOLUTIONS START WITH US: EMBRACING A NEW MINDSET
COCPA Immediate Past Chair Diego Baca, CPA, audit partner at EY, says that now is the time for CPAs to reframe their thinking about the future of the profession. “The challenge is to figure out how to bring value to our young people,” he says. “But to do that, we have to be open-minded about doing things differently.”
Baca acknowledges that old-school thinking persists, and he includes himself among those who needed to shift their mindset. “We all come into these conversations with our own viewpoints, but we cannot be stuck in our own opinions,” he says. “Conversations with people over the past two years have really made me think hard about the dogmatic position I had at one point. The world is so different for all of us in 2024, but especially for young people. We have to be flexible in our thinking. It’s the only way we’ll get to the right answer.”
Prior to becoming the 2024-25 COCPA Chair, Toby Clary, CPA, partner at Soukup, Bush & Associates, P.C., says he had a “pretty narrow focus” on potential solutions to the CPA pipeline. “I knew we needed to remove barriers to entry into the profession and that it was more than simply 120 versus 150 hours, but I didn’t know much beyond that,” he reflects.
Clary says that talking with other practitioners was a big part of his mental shift, and he has seen a bigger menu of solutions evolve to encompass increasing starting salaries, evaluating the overall cost of education, and improving efforts to promote the profession. “There are a lot of issues that this profession needs to address,” he observes.
A HOLISTIC APPROACH TO SEEKING SOLUTIONS
NPAG’s recently published Accounting Talent Strategy Report, based on feedback from nearly 8,000 accounting professionals and students nationwide, including those in Colorado, analyzes the root causes of the accounting talent shortage and offers recommended next steps, organized into six themes:
1. Make the academic experience more engaging
2. Address the time and cost of education
3. Grow support for CPA Exam candidates
4. Prioritize strategies to expand access for underrepresented groups
5. Enhance the employee experience by evolving business models and cultures
6. Tell a more compelling story about accounting careers
In line with messages captured in NPAG’s report, Sarah Flischel, CPA, audit director of transformation and training for AAFCPAs, says, “There’s a labor shortage in many U.S. industries right now, and the accounting profession is no exception. Some of it is driven by a shift in worker preference toward jobs offering better worklife balance and flexibility.”
CONTINUED FROM PAGE 5
Flischel points out the silver lining in the report’s findings: that unlike sectors such as healthcare and education, the accounting profession is perfectly positioned to provide individuals with those things. “Yes, there are other issues to address such as starting pay and working fewer hours,” she adds. “But we have the ability to fix these particular issues and showcase the various opportunities out there for CPAs. We’re going to move a lot faster when we all work together.”
Clary says he has been encouraged by NPAG’s research. “For me, it has been very eye opening, and there is good progress and forward momentum to address the pipeline challenges.”
SHARING YOUR CPA STORY
One of the six themes in NPAG’s report is telling a more compelling story about the profession.
COCPA Chair-Elect Alexandra Tune, CPA licensed in the state of Colorado and Audit & Assurance managing director at Deloitte & Touche LLP, encourages CPAs to focus on where they can make an impact, which includes educating people about what an accounting career really is, especially in the early years of a business education. “People know what engineers and lawyers do, but they don’t know what a CPA does and where it can take you,” she says. “We need to educate students and others earlier.”
“It’s time to start talking positively about the profession,” Clary agrees. “Staying positive, especially when talking to students, is really important. We’re a respected profession. If we paint the profession genuinely and positively, the message will spread.”
Part of that effort in spreading the good story about accounting careers includes reaching out to students at a younger age, says Lynn Mitton, CPA, partner at Tandem CPAs. “If there were more opportunities for kids and teens to know about our profession, we’d have more majors,” she says. “Awareness is a big part of the problem. High schoolers don’t even know about accounting.”
Plus, there’s that enduring “accounting is boring” stereotype. “We need to broaden people’s view of what CPAs do,” Tune says. “CPAs can be business advisors, finance professionals, analysts, CEOs, CFOs, and consultants. We often see and do things differently. We should share that.”
Even college students need a better understanding of the profession. Mitton recalls that one of her professors took the time on day one to cover the different areas of the accounting profession and the CPA designation. “I was an accounting major, and that was the first time I’d heard about becoming a CPA,” she says. “If students heard about our lifestyle, the type of work we get to do, and what our lives are like overall, it would make a big difference.”
Flischel says that every CPA, not just leaders, can impact how the profession is perceived. “Personally, I can’t change salaries, but I can talk about the life someone can create in this profession,” she points out. “While we don’t want to gloss over the challenges, let’s highlight the good things and what your life could look like: job stability, a good salary, flexible work, and the many different career options.
"There’s a lot of excitement and good in our profession. We have a bright future, and we need to tell everyone. Telling your story matters more than you think.”
– Sarah Flischel, CPA
For his part, Clary says he is already changing the story he tells about the profession and his career. “Comments about always being busy and how difficult the profession is used to be a source of pride, but that’s not helping anything when we’re trying to recruit new people,” he points out. “We need to change the narrative.”
Clary emphasizes that he’s not saying anything untrue. “When we speak about the profession, we shouldn’t be talking about how hard this is, but rather how we serve and help others, make a difference, and provide opportunities for your passion. You can pursue all of that in accounting.”
In line with that concept, Baca also leads with how interesting the work is, his enjoyment of the travel opportunities, and what it’s like to interact with business leaders and attend fun events. “We have to focus on honest, positive messages about the profession,” he says.
“People should brag about what they’re doing so it catches fire,” she continues. There’s a lot of excitement and good in our profession. We have a bright future, and we need to tell everyone. Telling your story matters more than you think.”
ENHANCING THE EMPLOYEE EXPERIENCE
Another theme from the NPAG report is to enhance the employee experience, something the leaders at Tandem CPAs have already been addressing, not only because of the growing influx of work, but also to help their team create work-life balance as demand for the firm’s services remains so high that they constantly have to turn away work.
“The challenge isn’t having enough work but having enough people to do the work,” says partner Rob Burton, CPA.
The firm started aggressively and intentionally hiring in 2021, using every avenue possible, including recruiters and online job sites. “It was a disaster,” Burton says. “So we knew we had to change the game.”
Changing the game meant taking the time to reach out to universities near and far to cultivate relationships, and embracing the true meaning of remote work. Expanding the concept of who can work from where was crucial to bringing new people on board, Burton says, noting that two employees are based out of state.
The accounting profession’s flexibility is what drew Mitton to the profession in the first place. She was able to work part time when her children were young, and then slowly grew into her full-time career. “There aren’t a lot of professions that would and could be so open to that,” she reflects. “It’s one of the reasons accounting has been such a great profession for me.”
Mitton says the firm has tried different things over time to improve their employees’ experience, whether that was casual Fridays that evolved into everyday business casual, closing the office on Fridays outside of busy season, and offering unlimited paid time off.
“You try things and see how they go,” she says. “Everything we do is about work-life balance. Our employees say the flexible schedules are the most important thing to them.”
Mitton and Burton say they’re determined to practice what they preach. “When we say we don’t want people working more than 50 or 60 hours a week during busy season, we mean it,” Mitton says. “We like and value our employees, and we don’t want them walking out the door because they’re burned out. It’s not a good long-term strategy, so we’re doing everything we can to improve the work experience and help work fit into their lives better.”
Tune says it’s one thing to attract people into the profession and another to keep them. “We’re trying to change the way we work as an organization and the way we look at the talent experience for people. We want them to do the things they want to do professionally as well as personally.”
“Everyone deserves better work-life balance than what the profession has historically provided,” Flischel says. “If you’re not sure what types of benefits or flexibility your team wants – just ask how they want to be supported. Don’t assume it’s what appealed to you. We need to ask. Things are different today.”
Baca notes that, importantly, changing how work is done doesn’t mean the profession loses its core values and principles. “We can change our culture and maintain the values and integrity that are inherent to our profession. These things aren’t mutually exclusive.”
Work-life balance is just one aspect of the employee experience on which the NPAG survey report touches. The report also recommends strategies related to boosting starting salaries, improving organizational culture, enhancing career paths, and focusing on diversity, equity, and inclusion (DE&I) initiatives.
To kick-start conversations about the changes that employers are making in today’s evolving landscape to help enhance the employee experience, NPAG developed the Accounting Employer Checklist, offering key areas for consideration such as pay transparency, flexible work options, and leveraging nontraditional talent.
COLLABORATION: A CRITICAL SUCCESS FACTOR
Beyond specific solutions, what has also emerged in the last 12 to 18 months is the power of the spirit of collaboration over division. Initial debates over 120- vs. 150-hour educational requirements have evolved into a 180-degree shift toward identifying new ways in which stakeholders in the profession can work together to sustainably attract and retain talent.
At the Adams County Education Consortium Career Expo, COCPA member Marc Hendrikson visits with an 8th-grade student about the many unique opportunities afforded by an accounting career. Hendrikson is senior vice president, contractor and commercial banking, with Sunflower Bank.
SPARKING INTEREST EARLY
The COCPA is engaging with students and educators at various levels to boost awareness and share a better story about the many paths that an accounting career affords. In April, Society staff attended the Colorado Future Business Leaders of America (FBLA) State Leadership Conference, visiting with high school students about the versatility and prominence of accounting in various industries.
COCPA representatives have brought the message to high school students, often in a business class setting, and to the annual Adams County Education Consortium Career Expo, where almost 6,000 8th graders from across eight school districts and 47 schools converge to learn about professional career options that may be in their future.
At the post-secondary level, Society representatives are visiting several Colorado colleges and universities to share with students what the accounting profession has to offer and how the COCPA can support them in their educational and early career journey. On deck so far are Metro State University, Colorado State University – Fort Collins, Colorado State University – Pueblo, University of Colorado –Boulder, University of Colorado – Colorado Springs, University of Denver, and Colorado Mesa University, with other visits in the works.
COCPA leadership participates in student and faculty outreach as well, with CEO Gelinas and Chair Clary meeting with students and staff from the University of Colorado – Colorado Springs, Colorado State University – Pueblo, and Fort Lewis College during their statewide 2024 COCPA Better Together Tour.
“It’s so important to engage students, even as young as middle school, to create awareness of the many career paths that the accounting profession affords," says Lindsay Moore, COCPA operations director. "We're committed to finding unique opportunities to do so with the help of member volunteers and partnerships with schools, educators, and other stakeholder groups that serve students.”
FUTURE OF THE PROFESSION
CONTINUED FROM PAGE 7
In response to concerns about the current licensure requirements, particularly in addressing the time and cost of education, state societies and state boards of accountancy across the country, including Colorado, are considering changes to licensure requirements. In doing so, Gelinas emphasizes the importance of collaboration with other states to prevent adding complexity to the licensure process and disrupting currently practicing CPAs.
She states, “It’s in the profession’s best interest to fully evaluate the options and consider how any changes are implemented because existing CPAs and future generations will be impacted by our collective actions.”
EVERY CPA CAN MAKE A DIFFERENCE
Clary thinks the profession as a whole is moving in the right direction. “We’ve come a long way in the last 10 years to make accounting more appealing to the younger generation,” he says. “We’ve got a long way to go, but the changes are working.”
Baca encourages every CPA to focus on the little things they can do to positively impact people coming into the profession. “Every one of us is emotionally attached to where we come from and what we do,” he observes. “But we’re not going to thrive in 2024 and beyond by doing the same things we did in 2004.”
As a first meaningful step to joining the profession-wide effort to transform and grow the accounting talent pool, please consider signing the 2024 Pipeline Pledge. By signing the pledge, you’ll be making a commitment to participate in at least two activities each year that will positively impact the talent pool.
While the possibilities are endless, activities might include visiting a local middle school, participating in a high school career fair, mentoring a CPA candidate, or advocating for policy changes in your workplace. Visit NPAG’s Pipeline Pledge resources page for more ideas on activities in this realm or reach out to the COCPA for volunteer opportunities and resources.
Once you’ve signed the pledge, be sure to download and begin sharing your Pipeline Pledge badge to let others know of the difference that you’re making, whether as a participant, employer, or educator. As well, share your efforts to address the pipeline with our community on social media by using #PipelinePledgeCOCPA.
Gelinas notes that just as the public relies on CPAs to navigate complex financial challenges, the profession must now come together to address its own internal obstacles in a way that strengthens its brand. By working together, the profession can reshape perceptions, implement meaningful change, and inspire the next generation of accountants.
The COCPA would love to hear about what you’re doing to grow the accounting talent pool. To share your story, contact NewsAccount editor Kelli Davis at kelli@cocpa.org.
AICPA & NASBA UPDATE
The AICPA and NASBA released a concept exposure draft on Sept. 12, 2024, on a CPA Competency-Based Experience Pathway that would provide an additional way for candidates to demonstrate their professional and technical skills after earning a bachelor’s degree. The COCPA is preparing its response, and members are encouraged to submit individual comments on the proposed pathway through Dec. 6, 2024.
COCPA INITIATIVES
Visit the COCPA blog to learn more about the initiatives in which the COCPA has participated in order to address the talent pipeline and support the future of the accounting profession.
→ COCPA Advocacy Yields Positive Changes to Colorado CPA Licensure Requirements to Ease Pipeline Challenges
→ New National Survey Report Sheds Light on Top Challenges Impacting the Talent Pipeline
→ COCPA Co-Signs Letter to Congress Urging Support for STEM Accounting Legislation
→ COCPA Weighs in on NASBA Task Force’s Concept of an Equivalent Path to Licensure that Defines a Structured Professional Program
→ COCPA Responds to Proposed State Board Rule Changes on Education and Experience Requirements
→ State Board to Consider Rule Changes in Response to Letter from Gelinas
→ Inspiring Future Accountants: COCPA Engages High School Students at the Colorado FBLA State Leadership Conference
→ Community College Transfer Scholarships Support Aspiring Accounting Professionals
Colorado Gives Day is Dec. 10! To support future accounting professionals with a donation to the COCPA Educational Foundation’s scholarship program, visit the Colorado Gives website anytime on or before Dec. 10.
Equipping Legislators, Mobilizing Champions: Cultivating a Collaborative Political Landscape to Advance CPA Priorities
Empower our profession by supporting candidates who champion CPA priorities. Together, we can tackle key concerns such as:
Simplifying Tax Administration: Addressing Sales & Use Tax, Property Tax, TABOR Refunds and more.
Enhancing Business Climate: Reducing regulatory burdens.
CPA Workforce Development: Attracting talent and improving education.
“Through our support, we ensure our concerns are heard and have a seat at the table in decisions that affect us.”
– Randy Watkins, Audit Principal, BDO
Every contribution strengthens our collective voice in shaping legislation that safeguards your career.
Remote Work Opportunities, Office Space Optimization Combine for Improved Efficiency
BY STEVE GRIMES, CPA
American workers saved a staggering 60 million hours by working from home instead of commuting in 2022. As work-from-home arrangements took hold during the pandemic and have significantly endured post-COVID, professional offices have increasingly resembled dusty Colorado ghost towns.
According to deskbird, an office optimization software company, only 11% of American companies actually use all of their office space and 45% use less than half. Real estate services company JLL reports that the current average office utilization rate across industries is 60%. Unused desks and common areas, such as conference rooms, have the greatest impact on utilization rates and offer the best opportunity for efficiently and effectively using existing office space.
The following are some strategies for doing so.
PRACTICE MANAGEMENT
CONTINUED FROM PAGE 11
STRATEGIES FOR WORKSTATIONS
The first step in identifying the best workstation strategy for your firm is to track your usage and occupancy patterns, which you can accomplish using specialized software or, more simply, with employee feedback and observation. While usage measures the time employees spend in the office on any day, occupancy is the number of employees who are physically present in the office at one time. If your firm has low usage but high occupancy, there is likely an opportunity to use your space more efficiently.
Calculating your desk ratio can also provide insight into how much space your firm needs. Multiply your number of employees by how many days per week they work in the office, then divide that result by the number of workdays in a week — typically five. It’s usually a good idea to increase the result by about 20%.
As an example, if your firm’s employees are in the office three days per week and you have 50 employees and a five-day workweek, your firm needs about 36 workstations:
((3x50)/5) * 1.2 = 36
Your desk ratio is the ratio of desks to employees — in this case 0.72 (36/50), or about 1:1.4.
Once you’ve identified your usage patterns and established your space needs, choose the strategy that best fits your firm’s needs. Here are a few:
Hot desking: This strategy provides community office and workstations for employees to claim on a first-come, first-served basis each day. The primary advantage of hot desking is the ease and lack of cost to implement. The disadvantage is that the most coveted offices and desks tend to be claimed early in the day — making in-office days less desirable for employees who arrive at the office later, such as those with kids to drop off at school. With that challenge in mind, this strategy works well for firms with an abundance of similar workstations.
Office hoteling: To address the shortcomings of hot desking, the office hoteling strategy provides a booking system that employees can use to reserve offices or workstations days in advance. This ensures that all employees have more fair access to offices and workstations. Firms can also better monitor office space usage and utilization. However, software to arrange reservations and monitor usage and utilization can be costly, making this strategy better for larger firms with more resources.
Office sharing: This strategy results in two or more employees sharing one office or workstation by coordinating their hybrid schedules so that only one is in the office on any given day. The advantages of such an arrangement include schedule predictability and employees having their own space. Employees who share workstations can keep personal items, such as family pictures or mementos, in a drawer and display them during their in-office days.
The lack of flexibility can be a concern with this model. Office sharing schedules can be challenging to adjust for circumstances when employees have in-office commitments on a day they are scheduled to be working from home.
STRATEGIES FOR COMMON AREAS
Conference rooms, break-out rooms, and huddle rooms, which often go unused or underutilized for much of the day, offer opportunities for creating additional efficiencies. The first step in finding efficiencies with these spaces is to compare their utilization with their booking. A conference room is heavily utilized only to the extent that meetings actually occur as booked.
Next, compare usage with occupancy, where usage is the time booked and occupancy is the number of occupants in a meeting. If a large room is used frequently, you might think that your firm needs more large meeting spaces. But if occupancy is low, then the space is underutilized. If your firm has high usage but low occupancy, consider reconfiguring large meeting spaces with removable partitions, similar to hotel ballrooms. If you have entirely unused offices, convert a number into small conference rooms or huddle rooms as necessary.
CONVERTING UNDERUTILIZED SPACE
So you’ve adopted a workstation strategy, and you’ve adjusted your common area space to match usage patterns. Now your firm probably has even more empty offices and unused conference rooms than it had before. Your firm can explore reducing its square footage or subleasing, though the latter may be difficult in the current soft real estate market.
If neither of those options is feasible, at the very least these underutilized spaces can be held in reserve to absorb future increases in headcount. Your firm could potentially hold its current real estate footprint steady for years to come.
In the meantime, the unused conference rooms and offices could be repurposed as employee amenities, such as exercise rooms/gyms, breakrooms (with soda fountains, massage chairs, etc.), game rooms (with video game consoles, air hockey tables, etc.), and zen rooms/ yoga rooms. Best of all, these fun amenities may encourage employees to work in the office more often.
Work-from-home arrangements don’t have to benefit just employees. A hybrid workforce presents opportunities for firms to become more efficient, save expenses in the long term, and provide amenities to improve employee well-being.
Steve Grimes is the firm administrator of WhippleWood CPAs in Littleton. Reach him at steveg@whipplewoodcpas.com.
Sources: Benjamin, Annabel. “Office space optimization guideline for thriving and people-centric workspaces.” deskbird, 21 May 2024, https://www.deskbird.com/blog/ office-space-optimization.
“How to Optimize Your Office Space Without Losing Your Mind.” Hubstar, 9 Aug. 2023, https://www.hubstar.com/blog/how-to-optimise-your-office-space/.
“Office Space Utilization: The Secret to Cost Savings.” Tableair, 8 May 2023, https://tableair.com/blog-office-space-utilization-the-key-to-cost-savings/. Ullis, Kasper. “Office space utilization in the hybrid workplace.” Sign In Workspace, 16 May 2022, https://signinworkspace.com/resources/blog/officespace-utilization-in-the-hybrid-workplace.
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Blaise Wabo: Accounting + Technology = Career Success
BY NATALIE ROONEY
COCPA member Blaise Wabo’s career is an example of how accounting professionals can chart their own career path. By combining his family’s tradition of majoring in accounting with his own passion for technology, Wabo is taking his career to new heights.
If Blaise Wabo, CPA, had his way when he was younger, he might have been a mechanical engineering major. Now, he says he’s glad that his father, who grew up in poverty but later achieved success as an accountant, offered Wabo and his five siblings a deal: Major in accounting and his father would foot the bill for an international education.
“We literally had to sign a contract that we’d major in accounting,” Wabo says. “But my father knew from his own experience that accounting was his ticket to success.”
Growing up in Cameroon, hard work was hardwired into Wabo’s DNA, which served him well when he came to the United States to begin his higher education at Grambling State University.
Wabo was committed to majoring in accounting, but almost immediately after arriving on campus, he decided to add computer information systems (CIS) courses after learning more about them via Grambling’s student chapter of the National Association of Black Accountants (NABA). “The organization exposed me to the growing sector of IT and information systems audits,” he recalls.
Wabo first sat for the exam before starting a full-time job in KPMG’s audit department. He started with the Business Environment and Concepts (BEC) section. He didn’t pass, and it was a wakeup call.
After a two-year break, he tried BEC again and passed. “I figured if I could pass that section after two years, I could pass the others, but it turned into a longer and more difficult journey than I had expected,” Wabo says.
After his first year of school, Wabo interned in Deloitte’s Enterprise Risk Services division and took part in an IT audit. Over the course of that summer, he realized that even without an engineering degree, he could stay in the IT space by double majoring – or in his case, double degree-ing.
Wabo ultimately graduated in just three years while earning two undergraduate degrees from two different schools: accounting and computer information systems degrees from Grambling and Louisiana Tech University, taking 21 credit hours every semester while working as a math tutor. “That was my college experience,” he says. “Studying, tutoring, and taking extra classes.”
A BUMPY ROAD TO CPA
The extra classes from Wabo’s double degree meant that he graduated with 156 credit hours – more than enough to sit for the CPA Exam, but his path to passing wasn’t as smooth as he would have liked. In fact, he calls it “a bumpy route.”
He ended up taking every section at least twice, emphasizing, “I took a four-part exam, and it took me 11 attempts to pass.”
Wabo saved the Tax section for last, passing just in the nick of time. “When I finally passed that last section, my BEC score was about to expire,” he says. “I took the full 18 months. Some people take them all and pass in six months, but that wasn’t me.”
Three things kept Wabo going throughout his exam journey: his faith, his family – by this time he was married and had his first child – and how much he wanted to make his dad proud. “The day I got my final score, my first call was to my dad. I could tell he was very emotional and proud.”
Wabo’s second call was to the managing partner at the firm who replied, “Those will be the best three letters behind your name.”
Now, Wabo has added four more certifications, CISA, CITP, CCSK, and CCSFP, “but the CPA has always put me forward,” he says. He counts himself lucky to have passed all the sections just within what was then an 18-month requirement. (It’s now 30 months in
Clock wise from left, Wabo joins his wife and children today; far left, with his parents and five siblings in Cameroon; in his early days with A-LIGN and on his "Compliance Crosswalk" podcast; and as a newly minted CPA, posing with his wife and young son.
THE OTHER SIDE OF CPA
CONTINUED FROM PAGE 15
Colorado.) He admits that he doesn’t know what he would have done had he not passed the final section on that attempt.
“That’s the story for some people,” he says. “It’s difficult, but my dad had said something so important to me: ‘If you decide to do accounting, it doesn’t make sense not to go for your CPA.’”
He’s quick to encourage others who are struggling to find their foothold along their journey to CPA licensure. “It’s worth it,” he says. “You don’t fail until you quit. Every chance is a new opportunity to keep trying. Having the CPA designation is proof that you understand the whole financial landscape, and it puts you ahead of your peers.”
BLAZING A NEW CAREER PATH
Even though Wabo started out on a typical public accounting career trajectory, after passing the CPA exam he realized that his brain wasn’t wired to remember all of the accounting rules and regulations. Three years later, he changed course and turned to the tech side of his degree, landing a role at A-LIGN, a CPA firm that creates custom cybersecurity and compliance solutions for its clients. It was the perfect combination to capitalize on both his CPA designation and interest in tech.
Wabo immediately found working for a start-up organization to be very rewarding, and joining A-LIGN brought him a sense of fulfillment. “Technology is ever changing,” he says. “But it’s easy to keep up with the standards and regulations because they’re straightforward and based on the current risk in the tech landscape. I just had a passion for it.”
Over the past 11 years, he has helped expand the firm from 12 employees to more than 600. “I felt like I was adding value,” he says. “Our leadership has taken us through this growth that includes two rounds of venture capital funding, which has helped the firm grow and diversify. I’m very grateful. It has been so rewarding.”
Wabo continues to approach his career from a nontraditional angle. For several years, he took to the airwaves as the host of “Compliance Crosswalk,” a monthly podcast designed to help tech and compliance leaders stay on top of industry changes.
The show brought on guest interviewees, provided framework updates, covered the business implications of compliance (and noncompliance), and discussed compliance challenges, tips, and tricks. The podcast has now evolved to a monthly webinar called “Compliance Corner Monthly,” and Wabo says the experience as a host helped him become a better speaker and even gave him a chance to showcase his sense of humor.
NEW HORIZONS
Wabo is enjoying serving as a newly appointed trustee of the COCPA Educational Foundation, and he has a very specific goal for his term: to challenge the status quo for accounting students and encourage them to think beyond the typical CPA perspective of only considering financial risk. “It’s incredibly important to provide transparency to investors, but equally important is technological risk, no matter the industry,” he emphasizes.
As his career has evolved, Wabo reflects on how he charted his own course. “The dominoes fell into place to my advantage, and I’m grateful for it,” he says. “There are so many options for young accounting professionals today, and you don’t always have to follow a traditional path.”
Has your CPA designation taken you down an unusual career path? Do you have a unique hobby, interest, or side gig that’s become a passion? CPAs do all kinds of interesting things both professionally and personally, and we’d love to shine the spotlight on members' unique endeavors.
Please email Kelli Davis at kelli@cocpa.org to indicate your interest in being interviewed for an article or to let us know of a fellow COCPA member who has a story to tell.
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Foundation Awards
$93,000 in Scholarships
2024-2025 EDUCATIONAL FOUNDATION OF COCPA BOARD OF TRUSTEES
President Stephanie Daniels, CPA, MAcc, CEI Constructors, Denver
Vice President Alexandria Romero, CPA, MPAcc, Galasso Learning Solutions, Pueblo
Treasurer Jeffrey Damm, CPA, SM Energy Company, Denver
Past President Judy Thomas, CPA, MBA, Regis University, Denver
Trustee Laurie J. Corradino, CPA, Ph.D., Colorado State University – Pueblo
Trustee Alicia Gelinas, CPA, Colorado Society of CPAs, Englewood
Trustee Karla Willschau, CPA, Wall, Smith, Bateman, Inc., Alamosa
The COCPA Educational Foundation awarded 31 scholarships to accounting students throughout the state of Colorado this summer. The scholarships provided by the Educational Foundation are not just financial support, they are investments in the future of the accounting profession. Each scholarship helps to relieve the financial burden on students, allowing them to focus more on their studies, professional development, and the path to CPA licensure.
One scholarship winner expressed his gratitude by sharing, “I am in the process of taking my second section of the CPA exam and this gives me so much motivation to keep going. Thank you for your generous support!”
Congratulations to all of those who were awarded an Educational Foundation scholarship:
Community College Accounting Transfer Scholarship
Jaz Hendrick, Colorado State University
Mike Vrlenich, University of Colorado –Boulder
BDO LLP Scholarship
Grace Creamer, University of Denver
Crowe Scholarship
Thomas Kononov, University of Denver
David Dirks Memorial Scholarship
Robert Pina, Metropolitan State University of Denver
Deloitte LLP Scholarship
Jasmine Passanante, University of Denver
Ryan Harvey, University of Denver
Eide Bailly LLP Scholarship
Kaitlin Wicklein, Colorado State University
EY LLP Scholarship
Leah Lester, University of Denver
Gordon Scheer Scholarship
Madalyn Brundage, University of Denver
Hugh C. Braly Scholarship
Derik Casstillo, University of Denver
KPMG LLP Scholarship
Noah Haselby, University of Denver
Mark and Victoria Smith Family Foundation Scholarship
Latrice Lewis, Metropolitan State University of Denver
Carissa Rael, Colorado Christian University
Katie Scott, Metropolitan State University of Denver
Mira J. Finé, CPA Scholarship
John Glawe, University of Colorado – Boulder
Moss Adams LLP Scholarship
Taliyah Murphy, University of Colorado – Colorado Springs
David Lockwood, Colorado Christian University
Otto and Betty Butterly Scholarship
Jordan Donaldson, Colorado Christian University
Past Presidents Scholarship
Berlin Lay, Colorado Mesa University
Plante Moran Scholarship
Gabby Carpenter, Colorado State University
Noah Smith, Colorado State University
Emma Davis, Colorado Christian University
Joanna Guhl, University of Denver
PwC LLP Scholarship
Michael Preiss, University of Denver
Sam Cheris Memorial Scholarship
Rylee Vilhauer, University of Northern Colorado
Teresa Christensen Memorial Scholarship
Garrett Yackey, Colorado State University
General scholarships
Michael Gumataotao, University of Denver
Nayeli Aguirre, University of Denver
Patrick Nagurny, University of Denver
Scott McKinney, University of Colorado – Denver
In addition to providing scholarships, the Educational Foundation of COCPA promotes accounting education in Colorado through several programs, including awards, mentorship opportunities, and outreach. Support the future of accounting and donate to the Educational Foundation today cocpa.org/foundation-donate
For more information on the Educational Foundation, contact Lindsay Moore at lindsay@cocpa.org
Treat Internships Like Job Interviews; Treat Jobs Like Paid Education
BY TOM HALL, CPA, CFA
At the University of Denver, most of our accounting students complete at least one internship, with nearly all public accounting internships ending with a full-time job offer. However, occasionally a student fails to secure an offer, and sometimes we ask the firm why.
One response was, “Your student just didn’t work very hard; they seemed to think that the responsibilities of an internship were beneath them.” This is surprising, because most of us would agree that in a typical job hierarchy, “intern” is either at or very near the bottom. (I joke with my students that on an imagined hierarchy, the intern sits beneath my shoe!)
As such, my advice to students is always the same: Treat every internship like a two- to three-month job interview, because that’s exactly what it is.
Your first job out of college is critically important because it helps set the stage for the rest of your career.
PUT YOUR BEST FOOT FORWARD … OVER AND OVER
Imagine arriving for a job interview. You’ll definitely be on time, probably even a little early.
You’ll be dressed for success, and you’ll hopefully have gotten a good night’s sleep the night before. During the interview you will, of course, be on your best behavior. You’ll be attentive and respectful. You’ll smile and ask thoughtful questions that you considered beforehand. You’ll extend a firm handshake and look the interviewer in the eyes when speaking to him or her. You will convey your strengths and leave a strong impression of your dedication, your ability to think critically, and the ways in which you’ll be an asset to the firm.
Now imagine the first day, and every day thereafter, of your internship. Everything you would or wouldn’t do during an interview applies now. Only now, you’ll be asked to actually demonstrate your strengths, dedication, critical thinking skills, and value to the firm. Each day, show up with a clear willingness to learn, and unless you’re asked to do something illegal or unethical, do it with a smile!
Your first job out of college is critically important because it helps set the stage for the rest of your career. However, first comes landing the job. Treat the
internship like the job interview that it is in order to maximize your chances of securing a full-time offer.
YOUR EDUCATION CONTINUES
Now let’s say you graduate and start your first full-time job. You or someone else (parents, donors, etc.) likely paid a lot of money for you to earn your degree. But you’re not done learning! Once you start working full time after you graduate, you will be learning considerably more.
On-the-job training and experience in the field will teach you so much … if you continue to be a good student. Do not make the unfortunate mistake of thinking that your education is done once you graduate. Instead, recognize that your real education has just begun! That leads to my second piece of advice: Treat every job you ever have as “paid education.” Imagine asking your employer, “You’re going to pay me to do stuff that will help me become more knowledgeable, valuable, and marketable?” If you do so with every future job, you will view every one of them as more important and more rewarding. Ask yourself, especially for the more mundane tasks (because there will be many), “How can I allow this task to improve me?” or “What can I learn from this assignment?”
Maybe you enjoy the work, but you can’t stand your boss or one of your co-workers. This advice applies equally to those situations. Ask yourself, “How can working with this person make me better? Can I learn patience or how to get along with difficult people?” Both are incredibly valuable leadership skills. Look at every aspect of your work “selfishly” and identify how it can make you better and more valuable.
POSITIVITY MAKES A DIFFERENCE
Not every job will be your dream job. In fact, most won’t be. There’s a reason it’s called “work” – it usually feels like it. However, your attitude and how you think about your work – as a continuation of your education for which someone is willing to pay you – will make all the difference in how much you learn, grow, and receive satisfaction and fulfillment from your working life.
With substantial experience in both public accounting and industry, Tom Hall, CPA, CFA, is an associate professor of the practice with the University of Denver School of Accountancy. Reach him at tom.hall@du.edu. Watch for his semi-regular Career Chronicles column in future issues of NewsAccount
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Welcome, New COCPA Members
The COCPA welcomes the following new members, who joined between June and August 2024.
FELLOW MEMBERS
Carson Alexander
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Katherine “Katie” Bell
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Judy McNeal
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Carl Nichols
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Christopher “Chris” Peter
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Thomas Reisch
Jackson Rojas
Warren Scaman
Amanda Schmitt
Kelly Valdez
Mengdian “Helen” Wang
Stephen Zaiss
New members, are you looking for a way to get involved, meet others, and connect with your new professional community? Whether your passion is serving on a committee, participating in a special-interest group, or bettering your community, find the opportunity that speaks to you and join in! For more information on volunteering, contact Stacy Svendsen at stacy@cocpa.org.
Know any of these members? Reach out and welcome them to our community!
Visit the COCPA Member Directory at cocpa.org/member-directory.
ASSOCIATE MEMBERS
Kate Bruno
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Becky Coleman
Julie Cooper
Garrett Deveraux
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Noah Gray
Aubree Hamblin
Ben Hedman
Travis Hedrick
Andrew Henderson
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Kevin Johnson
Cindy Kelly
Collin Klinker
Nicole LaBore
Remington McLean
Christian Miller
Chris Padilla Romo
Samantha Pierce
Temry Rodriguez
Eric Sanderson
Laura Santos
Gabriel Saturno
Trevor Smith
Krista Thormann
Alec Trotter
STUDENT MEMBERS
Braulio Angel
Martyna Balicki
Christian Bauer
Katherine Bowman
Maddie Brundage
Jordan Donaldson
Fiorella Enciso
Padra Florez
Jonathon “Jon”
Giardina
John Glawe
Joanna Guhl
Ryan Harvey
Sarah Kidd
Angus Kinkeade
Thomas Kononov
Jordan Legg
Leah Lester
Ethan Moskowitz
Patrick Nagurny
Fernando Palacios
Arvind Rajguru
Brooklyn Seymour
Eliana “Elee” Vigil
Kaitlin “Katie”
Wicklein
Abigail Wilkinson
Navigating Career Transitions: Strategies for Success
BY NATALIE ROONEY
Whether they’re voluntary or involuntary, job changes happen. What can you do to make your next career transition a successful one?
According to the Wall Street Journal, more than 300,000 accountants quit their jobs between 2019 and 2021. The website Going Concern calculated nearly 8,000 layoffs in 2023 among Big Four and mid-tier firms. Whether expected or not, many accounting professionals have found themselves on the job hunt in recent years.
Jerry Maginnis, CPA, retired KPMG partner, is the accounting executive in residence at Rowan University. Over the years, he has provided career counseling and mentoring to hundreds of students and early-career professionals. Now he has used that experience to write a book, Advice for a Successful Career in the Accounting Profession: How to Make Your Assets Greatly Exceed Your Liabilities.
“Most accountants will change jobs seven or eight times over their career. I’ve seen people do it well and not so well,” Maginnis says. “It is such an important topic that I devoted a whole chapter to it in my book.”
With layoffs more common in recent years, Angela Roberts, CPA, managing director of Aclivity, an executive recruiting, staffing, and consulting firm, says, “Most people are familiar with layoffs. They know a family member, colleague, or neighbor who has gone through it. However, it’s different when it unexpectedly happens to you personally.”
PROCESS AND REASSESS
The people whom Maginnis has encountered have changed jobs for a variety of reasons: layoffs, acquisitions, bankruptcies, and, in certain instances, employer concerns about performance. He says when it’s a totally unexpected event, there’s always shock and dismay. He suggests taking a couple of weeks to process the news.
“Talk to family and friends,” Maginnis advises. “They’ll bolster your confidence and help you focus.”
Then, when it’s time to move on, Maginnis says you might find that there’s something better coming down the road, whether that’s improved job satisfaction or a higher salary.
Roberts acknowledges that while a layoff is shocking, it’s also a great place to be in terms of reflecting on your career. “Many CPAs transition out of public accounting, chasing titles and higher salaries; they just keep landing. They rarely stop to consider, ‘What do I really want to do with this knowledge,’” she says. “This is a great
time to pause, reflect, and decide what you really want to do.”
Roberts suggests considering what you are good at and what you like doing, but just as important, consider what you do not like to do, and then take that off your resume. “Remove the tasks that you dislike and do not want to do again. People hire you for what you have done before, and you do not want to come up in a key word search for those positions,” she advises.
YOUR NEXT STEPS
When you’re ready to move forward with your job search, here are some first steps to get yourself going in the right direction:
1. Update your resume, highlighting your accomplishments.
2. Update your LinkedIn profile. Toggle on the “Open to” tab to “Finding a new job,” and use the “About Me” section to add important details about yourself and the role you’re seeking. Align your resume and LinkedIn profile and update them to reflect what you want to do.
3. Create and save job searches on LinkedIn and Google.
4. Re-engage your personal and professional networks.
FINDING THOSE NEW OPPORTUNITIES
After you’ve performed a personal inventory of what you do and don’t want to do in your next career role, Roberts suggests getting very focused with your search. “Look for companies by industry and size,” she says. “Search LinkedIn for people you know at those organizations.”
She adds that your next career move will most likely come from someone you know. “Instead of sending your resume randomly, look for connections at those organizations.”
In fact, Roberts offers a few cautions regarding job sites. “Companies post positions due to policy, even when they intend to hire an internal candidate. You may see a perfect position, yet not all listed positions are genuinely available,” she explains.
Roberts also advises selecting three recruiters whom you can trust. “A good recruiter can verify if a position is truly open and if the company is actively interviewing,” she says. “Company contacts will provide recruiters with insights on the number of
candidates in play, salary levels, and timing – valuable information that is often not accessible to individual job seekers.”
If you choose to work with a recruiter, listen to his or her advice and constructive criticism. “It’s essential to embrace constructive feedback and use it to your advantage. A recruiter’s insights can be the key to refining your approach and landing your ideal job,” Roberts says.
Roberts also explains that most recruiters respect each other and work well together. “We often work with the same candidates and clients, but if I don’t work with a particular company, I will refer you to someone who does. I don’t see it as competition. I see it as collaboration to find the best fit, a value add. We each have unique relationships, and leveraging this network benefits everyone.”
A great interim option is to consult. As a contractor you might start out at slightly lower pay, but there’s the opportunity for great exposure to different systems and industries and to experience the organization’s culture and environment. This is especially beneficial if you’ve been out of the game for a while, whether it was an involuntary layoff or a voluntary gap in your career.
“Consulting allows you to become a subject matter expert, leverage past skills, reacclimate to the workforce, or transition from part-time to full-time work,” Roberts says. “It’s a very positive approach, and we have found that 80% of our consultants transition into a full-time position with a team they already know, doing what they love.”
STRATEGIES FOR SUCCESS
Part of your success will come from being proactive in your job search process, according to Maginnis.
“When I think back to people who were seeking their next opportunity, certain individuals stand out,” he says. “You could tell who was on top of it.”
Maginnis observed that those who reached out energetically to set up meetings, were prepared with questions, knew what they were looking for, and were up to date on their skills experienced success more quickly.
“They crisply communicated what they were looking for, and then, very importantly, they followed up and shared their progress,” he says. “They were very focused and treated it like a full-time job.”
ADDITIONAL TIPS
Leverage social media. Most job seekers will use LinkedIn, but mainstream social media can present additional opportunities, Maginnis says.
Connect with an executive search firm. Ideally, work with a firm or individual that specializes in accounting and finance roles.
Read the newspaper. This may sound old-fashioned, but Maginnis suggests perusing the newspaper’s business pages for news stories that indicate that companies may need to staff up their accounting and finance departments. “Whether you read a newspaper online or physically hold it in your hands, there’s a lot of good information out there,” he says.
Ask for introductions. As you meet with your network, Maginnis suggests wrapping up every conversation with: “Is there anyone else you think I should meet?”
“That turns a cold call into a warm intro,” he says. “I’ve seen that be very effective in opening doors.”
Follow up. You don’t always have to wait for someone to call you. “Take the initiative and call them,” Roberts says. “People are busy; they appreciate reminders. Following up shows that you are persistent and serious.”
Roberts observes that the younger generation shies away from picking up the phone and calling. “Don’t be afraid to reach out directly to your contacts,” she says. “People like to help. Let them know that you’re open to new opportunities, and specifically what you’re looking for. Ask them to keep you in mind and share any leads. You have to be proactive; in their next meeting they may be discussing that perfect opportunity for you, so you want to be top of mind. Referrals are the No. 1 way people land a position.”
Be open to new ways of getting your foot in the door. Roberts says these days, a lot of people start at a company as a contractor and later get a job offer for a permanent position. “It’s a great ‘try before you buy’ option for both parties.”
Become a forever networker. “You want to constantly maintain relationships so that when and if you need your network, you’re prepared and not starting from scratch,” Maginnis says. “Maintaining your network can pay huge dividends when you’re in a career transition.”
CAREER CONSIDERATIONS
CONTINUED FROM PAGE 25
Roberts adds, “People claim they’re networking, but they’re often not doing it effectively. Strategic networking involves engaging with a broad range of professionals, not just the accounting and finance people who are also job hunting.”
Roberts herself loves networking, but knows that CPAs are “heads-down busy” with the day-to-day rigor of getting the job done. “Finding time to network can be challenging, and many don’t prioritize it until they need it.” Her advice: Download your LinkedIn contacts and sort it by “people I should have stayed in touch with” and “people I’ve helped.”
“Use this as an opportunity to reconnect, strengthen those relationships, and catch up,” Roberts suggests.
HOW TO TALK ABOUT A LAYOFF
If a gap in your resume is the result of a layoff, addressing it during the interview stage can be tricky.
Maginnis points out that the accounting profession has been seeing a lot of layoffs in recent years, so it’s not as taboo a subject as it might have been in the past. “A lot of firms have had to let good people go,” he says. “If that’s the case for you, I’d feel comfortable talking about it.”
Maginnis suggests a straightforward approach such as, “My firm over-invested and the anticipated business didn’t materialize, but my performance ratings were good, and I have good references.”
If you experienced a layoff for perceived low performance, it can be more challeng-
ing. “But you always want to be honest,” Maginnis emphasizes.
Suggestions for addressing performancerelated resume gaps include:
• “My last role wasn’t a good fit with my strengths.”
• “This opportunity is different and will take advantage of my skills and experience.”
Roberts agrees that honesty and a positive attitude are crucial. “Focus on the positive lessons that you’ve learned through the layoff process and any new skills you’ve gained,” she says. “Highlight that you’re flexible and resilient.”
ATTITUDE IS EVERYTHING
As you navigate your career transition, Maginnis reminds job seekers to stay positive. “Your mindset through all of this is so important,” he emphasizes. “If you get down on yourself, it can show through in an interview. You may feel negative, concerned, and panicked, but this could be the best thing that ever happened to you – a real opportunity to take your career to the next level.”
Roberts believes that reflecting on your career can help you recognize all of the valuable skills you have. “This self-reflection can be incredibly inspiring,” she says. “Being positive will go a lot further during this time. Look at all the great things you’ve done! Celebrate your achievements and let them motivate you.”
Ultimately, a layoff can be daunting, but Roberts emphasizes it’s an ideal opportunity
to transition and launch into the opportunities on which you truly want to be focused in the future. “Today, there are countless options. This is a positive place to be. You possess all these valuable skills, and you have the power to choose where you land. Focus on what you genuinely want to do, and the right job will find you.”
After you land your new position, take a moment to reach out to your network and let them know how your search concluded. And, don’t forget to thank them for their help. Finally, try to pay it forward by making time for friends or colleagues who may find themselves “in transition” in the future.
The COCPA Career Center connects members with the right people and the right employment opportunities. Whether you’re a job seeker, a hiring manager, or an accounting professional looking for career-focused resources as you contemplate a professional move, visit the COCPA Career Center today.
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Three-Pronged Approach Fosters Successful Digital Transformations
BY ANTHONY SHIBATA
Change is hard. This is nothing new, and we all choose to either embrace or avoid it to varying degrees. Change in business can be even harder, especially when it involves technology. However, after almost 20 years of technology implementations, coaching interactions, panels, seminars, and conferences, what sticks out are some definitive truths for success … even “strategies” for those being generous with definitions.
And while I generally bore my colleagues to tears with technological process soliloquies, what I am finding is that we are embracing these strategies and they are positively influencing the latest digital transformation trends.
This is exciting and gives me hope that this current generation of digital transformations won't come with the same bruises that were prevalent in the past. To be clear, we are leveling up.
So, let's make that nebulous platitude actionable. Following are my top three trending strategies for digital transformation.
In an online session that I delivered on behalf of the COCPA Technology Users Group (TUG) last February, topics of discussion included AI, organizational resiliency, and implementing digital toolsets. The session’s general takeaway was that change is coming and the key to successfully leveraging changing technology is … wait for it … people.
Specifically, people, process, and technology, in that order.
Notice that people come first. The first step to putting people first is understanding your starting point. To do this, we must ask a key question: How ready is my organization to implement change?
SIX STAGES OF DIGITAL TRANSFORMATION
The graphics below detail the six stages of digital transformation and help us to answer that question.
THE SIX STAGES OF DIGITAL TRANSFORMATION
The six stages of digital transformation range from doing nothing (business as usual) to being fully integrated into an organization that eats, drinks, and sleeps transformation.
STAGE
1 BUSINESS AS USUAL
If your leaders think your legacy systems and processes are working just fine – but somewhere in your organization someone is asking the question – then you’re in the very first stage.
STAGE 2 EXPERIMENTAL
You have one-off technology projects and some buy-in from some managers. The pockets of digital transformation are targeted in a single, specific touchpoint. But these technology projects are siloed and don’t show business-wide value or aren’t backed by enough people to expand scope.
STAGE 3 FORMALIZED
You have the support of leadership, funding has been approved, your teams are committed, and your culture is embracing change. Now, experimentation from various pockets starts to come together, and new projects are intentional.
KNOW THY ORGANIZATION
Assessing your organization and its readiness for digital transformation is the first critical step to identifying the necessary strategy for, and investment in, a successful transformation. It puts people first and aligns the essential steps from whatever starting point you’ve identified.
4 STRATEGIC
You have measurable results, and your success is generating support throughout your entire business. Your projects are intentional, aligned with your business strategy, and factor in multiple customer touchpoints. Individual groups have come together to collaborate and share insights – developing crossteam strategic roadmaps that plan for digital transformation ownership, work, and investments.
STAGE 5 SYSTEMATIC
You have a dedicated digital transformation team that actively contributes to your overall strategy by sharing insights, data, and customer-centric goals. The digital transformation team identifies customer journeys, and your company uses that research to alter your infrastructure, business models, processes, and systems.
STAGE 6 INTEGRATED
Digital transformation stops being a buzzword and is now part of your normal business operations. Your leaders recognize that change is constant and have adopted an agile mindset. Your transformation team is empowered to identify and pilot new technologies
KNOW THY PARTNERS
Beyond the importance of knowing your organization, the second strategy expands your ecosystem beyond your organization to include other stakeholders, such as external partners, clients, customers, and community.
STAGE
TECHNOLOGY
CONTINUED FROM PAGE 29
When assessing this group, focus on who can play what role within your organization relative to the change project and how that impacts others both internally and externally. This also provides a map of our constituents and their experiences, which is typically the most overlooked aspect during a digital transformation (and change in general).
KNOW THY MEASURING POINTS
As part of the third strategy, knowing thy measuring points, investing in a successful digital transformation project means avoiding common mistakes and identifying the project's specific steps.
This endeavor creates what is called a journey map. Key points to define are:
• What is the process?
• What are the key process steps?
• Who is affected?
• Where in the process are the points of interaction?
• What is the sentiment of those affected during the interaction? When this is complete, we are able to see what is going well with our processes and what changes can yield real operational improvements.
Unfortunately, many organizations skip the important steps defined here. At Wipfli, our internal surveys find that more than 96% of project leaders have not completed a journey mapping exercise, 43% of respondents state that they have not made or articulated a business case, and 86% say they need more planning with their digital transformation. None of this is overly surprising; initiating change is typically hard enough and ultimately “we all know we need it” serves as justification.
However, taking the time to engage in the strategies defined here will positively impact outcomes. While admittedly more detail is required in order to be actionable, at this point all of the building blocks are in place – and you now have a template – in order to move forward.
We’ve now answered the three questions necessary to move forward with impact:
• We know who we are.
• We know who we are working with and for, and what their needs are.
• We know our processes and what steps require improvement in order to make our interactions as efficient as possible.
LAST STEP: TECHNOLOGY
While I hesitate to say the last step is easy, the above steps have helped to clarify what technology solution is necessary and how to right-size the investment.
That is the essence of today’s digital transformation trends. No longer is it necessary to throw dollars into a pit of “technology solutions;” now we have evolved to purposeful, well-reasoned functionality and the ability to strategically adapt to the needs of our teams and those around us.
In other words, we are now investing where it will have an impact. And that is a technology truth that’s worthy of our investment.
Graphics adapted, courtesy of Wipfli.
Anthony Shibata is a partner with Wipfli. Reach him at anthony. shibata@wipfli.com. Visit the COCPA Technology Users Group (TUG) webpage to watch his webinar, “Cybersecurity and Digital Transformation – Best Practices and Insights,” delivered last February. To learn more about or to join TUG, contact Stacy Svendsen at stacy@cocpa.org.
STRATEGIC INSIGHT For CPAs and Finance Professionals
Updates and Opportunities Related to COCPA Committees, Working Groups, and Boards
DIVERSITY, EQUITY, AND INCLUSION COMMITTEE
The Diversity, Equity, and Inclusion Committee continues its online series, See Me: Stories of Diversity, Equity, and Inclusion.
Join us online Oct. 24, noon to 1 pm, for the latest installment, "Latinx Voices in Accounting: Honoring Heritage and Contributions," in honor of Hispanic Heritage Month. Free for COCPA members, this session celebrates the contributions of Latinx accountants and offers perspectives and stories from panelists Sheila Herrera, CPA, partner with Moss Adams LLP, Albuquerque; Gabriel Quezada, MST, CPA, tax manager, Global Compliance and Reporting with EY LLP, Denver; and Fernando Varela, CPA, transaction advisory manager with BDO USA, Denver.
Visit the DE&I Committee webpage for more information
See page 34 for DE&I Committee chair Jim Brendel’s review of Writings on the Wall, an exploration of sports, society, and social justice by basketball legend Kareem Abdul-Jabbar.
INDEPENDENT ACCOUNTANTS ALLIANCE
The Independent Accountants Alliance (IAA) hosted a collaborative learning session just before the August COCPA Summer of Fun event at Blue Moon Brewery. COCPA member Teresa Plaugher led a collaborative learning session around pricing models and how to grow your firm without growing your workload.
Additionally, 14 independent accountants who work and live in the Durango area recently gathered for their own local meetup. Thanks to COCPA members Connie Bechtolt and Michelle Kooi for organizing the event. Watch your email for information about the next Durango meetup.
If you’re outside the Denver metro area and would like to organize a gathering with fellow IAA members in your local community, please contact Stacy Svendsen at stacy@cocpa.org
The IAA continues to host monthly calls and looks forward to hosting its next meetup (live and virtual) later this fall.
To learn more about IAA, visit the IAA webpage or the IAA Connect Community , or contact Derrol Moorhead at derrol@cocpa.org
MEMBER CONNECTIONS COMMITTEE
A special thanks to all who joined us at the Member Connection Committee’s (MCC’s) Summer of Fun events. We hope that you enjoyed them as much as we did!
It was a home run at the June Baseball and Banter event, when more than 70 people joined us to watch the Colorado Rockies play the Los Angeles Dodgers. Perfect weather, fabulous connections, and a Rockies win made for a great evening.
More than 30 people “drove their connections” at July’s Topgolf event. Many thanks to event sponsor TriNet, which helped to make the event a success.
We rounded out the Summer of Fun in August with crafty pairings of brews and bites at Blue Moon Brewery. We thank our sponsor, ConnectPay, which helped us brew up a successful evening of networking and connections.
NONPROFIT WORKING GROUP
As part of its ongoing commitment to helping those in the nonprofit community, the COCPA Nonprofit Working Group continues to partner with the Colorado Nonprofit Association in presenting the quarterly online program, “Office Hours: Ask a CPA.”
Many thanks to Hannah DeAlto, CPA, controller at Impact Charitable; Patrick Lewis, CPA, audit senior manager at Clark Nuber PS; and Nathan Oberle, CPA, director of fiscal services at Hilltop Community Resources, who recently served as panelists at this event. They answered questions on topics such as thresholds for requiring an audit and/or single audit, fiscal sponsorships, tracking restricted grants and allocations of funds between restricted and unrestricted funding, and more. Visit coloradononprofits.org to learn more about the Colorado Nonprofit Association and register for the November 21 online program.
LEARN MORE
TECHNOLOGY USERS GROUP (TUG)
In addition to its monthly online Technology Users Group (TUG) meetings, the group has been busy planning free CPE events for COCPA members and contributing technologyfocused articles for publication in NewsAccount.
In August, James Miller, CPA, CEPA, mergers and acquisitions advisor at VRC Companies, LLC, presented “Unlocking Business Insights with ZebraBI: The Power of Consistency.”
Earlier this month, TUG presented two back-to-back sessions, on technology trends and Beneficial Ownership Information (BOI) reporting for CPAs. Watch for video recordings of these and other past TUG presentations
To learn more about the COCPA’s various committees, working groups, and boards, visit cocpa.org/get-involved . Plugging in with these groups is a great way to share your time, talent, and expertise while engaging with your COCPA colleagues.
Basketball Legend Kareem Abdul-Jabbar Explores the Intersection of Sports, Society, and Social Justice
BY JIM BRENDEL, CPA
Writings on the Wall, by Kareem Abdul-Jabbar, is a well-written exploration of divisions in the United States along the lines of race, class, religion, gender, and age. With co-author Raymond Obstfeld, Abdul-Jabbar delves into his experiences and observations, offering a unique perspective shaped by his iconic basketball career and active engagement in social issues.
The book is structured as a collection of essays, each tackling a specific theme. Abdul-Jabbar shares personal anecdotes, historical references, and insightful analyses to convey his views. In each essay, he provides some history (he would have been a history teacher had he not played professional basketball), thoughts and analysis, and a few pragmatic ideas for improvement.
Among the central themes in the book is race relations in the United States. Abdul-Jabbar draws parallels between his own experiences as a prominent African American athlete and the broader struggles faced by the Black community. He reflects on the role of athletes as activists and emphasizes the responsibility of those with a platform to advocate for positive change.
Abdul-Jabbar also explores the intersection of religion and social justice, particularly focusing on Islam. As a Muslim, he discusses the misunderstandings surrounding Islam in the West and addresses the need for greater religious tolerance. His personal faith journey adds a compelling dimension to the narrative, offering readers a glimpse into the complexities of religious identity.
In the book, Abdul-Jabbar doesn’t shy away from expressing his opinions on politics. He critiques the current political climate, discussing issues such as systemic inequality, polarization, and the importance of civic engagement. Whether you agree or disagree with him, his insights are well researched and balanced,
encouraging readers to think critically about the world around them.
The book’s title, Writings on the Wall, alludes to the idea of addressing the issues that are often overlooked or dismissed. Abdul-Jabbar urges readers to confront uncomfortable truths and engage in conversations that can lead to positive change. He advocates for empathy, understanding, and a commitment to justice.
One of the strengths of the book is its ability to seamlessly weave together personal narratives and broader social commentary, often explaining them with references to popular culture. Abdul-Jabbar’s storytelling is engaging, making it easy for readers to connect with his experiences and perspectives.
Writings on the Wall is not just a memoir or a collection of essays; rather, it is a call to action. Abdul-Jabbar challenges readers to be active participants in shaping a more inclusive and just society. The book leaves a lasting impression, encouraging individuals to reflect on their own beliefs and consider the role that they can play in creating positive change.
Abdul-Jabbar offers a powerful and insightful exploration of race, religion, politics, and activism. His unique perspective, combined with his approachable writing style, makes this book a compelling read for anyone interested in the intersection of sports, society, and social justice.
Retired as a Moss Adams partner since 2021, Jim Brendel is active in the community as a volunteer, board member, and audit committee member, and serves as chair of the COCPA Diversity, Equity, and Inclusion Committee. Reach him at jim.brendel1@outlook.com. To learn more about the committee’s activities, contact Stacy Svendsen at stacy@cocpa.org.
Digital CPA is coming to your backyard this year right here in Denver, Colorado
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Hyatt Regency Denver & Live Online
December 8-11, 2024
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Hyatt Regency Denver & Live Online
Hyatt Regency Denver & Live Online
December 8-11, 2024
December 8-11, 2024
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MOVERS & SHAKERS
MATTHEW BILLMAN, CPA, MBA
Matthew Billman, CPA, MBA, was named partner in the tax services group at RubinBrown, Denver.
BEN COTE, CPA
Ben Cote, CPA, was named tax partner with Plante Moran, Denver.
STEPHANIE DANIELS, CPA, MAcc
Stephanie Daniels, CPA, MAcc, joined CEI Constructors in Denver as assistant controller.
DWC CPAS AND ADVISORS, with offices in Glenwood Springs, Grand Junction, and Montrose, announced the following promotions:
MEGAN LEESLEY, CPA
Megan Leesley, CPA, was named director of tax with Dark Horse CPAs. Leesley is based in Salida.
ALEXANDRIA ROMERO, CPA, MPAcc
Alexandria Romero, CPA, MPAcc, joined Galasso Learning Solutions as a governmental A&A training facilitator. Romero is based in Pueblo.
GRANT SPANNUTH, CPA
Grant Spannuth, CPA, was named managing director with Grant Thornton, Denver.
Vennessa M. Distel to tax supervisor; Aubree M. Hamblin to tax senior; Megan S. Loberg, CPA, to tax manager; Mark W. Plantz, CPA, to principal; Kevin P. Rosson to audit manager; Emma B. Sandoval to tax senior; and Paul L. Vejraska to tax senior.
TAX STUDY GROUPS
Denver Tax Study Group
TUESDAYS, VIRTUAL ONLY, NOON-2 PM MT
Upcoming meeting: Dec. 3
Register at www.cocpa.org/Denver-Tax-Study-Group
Boulder/Longmont Tax Study Group
WEDNESDAYS, VIRTUAL ONLY, NOON-1 PM MT
Upcoming meetings: Nov. 6 | Dec. 4
Register at www.cocpa.org/Boulder-Tax-Study-Group
ALEXANDRA HALLER
Congratulations to Alexandra Haller, CPA, recently chosen as one of only 30 CPAs nationwide to attend the 2024 AICPA Leadership Academy this December. Haller is an assurance manager with Plante Moran in Denver whose Academy attendance is sponsored by the COCPA. She will be the 19th COCPA member to have attended the Academy over the years.
CLASSIFIEDS
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OFFICE SPACE AVAILABLE NEAR DTC:
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Do you have good news to share about your organization, such as a staff promotion, award, or new hire? Send your Movers & Shakers announcements to Kelli Davis at kelli@cocpa.org.
MEMBERS-ONLY Online Discussion Platform
Find answers, ask questions, share knowledge, and connect with the entire COCPA community. COCPA Connect, our most valued member benefit, offers immediate topicspecific answers directly from your peers, so you can spend more time helping your clients and less time searching for information.
“Through CONNECT, I’ve been able to get in touch with local colleagues who have helped me answer some of the challenging accounting questions encountered while serving my clients.”
Joel Cowden, CPA, Owner of Fianza, LLC
COMMUNITIES AVAILABLE FOR: Tax Practitioners | Technology Users | Independent Accountants Alliance | EPIC formerly Young Professionals | Business and Industry | Nonprofit Volunteer Opportunities | Open Forum and more!
