OUTLOOK | CHAIR’S LETTER “If we are to survive change, we must continue to find and develop talent, to re-evaluate our business models, to evolve existing skills and to fill the pipeline.”
A Call to Adapt and Thrive By Angela C. Thomas
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very October, the AICPA brings together a representative group of CPA members and affiliates from across the U.S. to discuss the most important topics facing accounting and tax professionals and to set the path for the future of the profession. While I missed the in-person meetings this year, I appreciate that emerging technology allowed us to gather virtually and share information to effect change.
our business models, to evolve existing skills and to fill the pipeline. It is up to us now to promote accounting as a rewarding career to attract the best and brightest to the profession. One way to help increase our numbers is by getting involved in or contributing to the WICPA Educational Foundation, which focuses on improving awareness and perceptions of the profession and promoting careers in accounting.
The AICPA message this year was “Adapt and Thrive.” Businesses that will thrive are those that rise to meet market demand. Prospective employees are looking for flexibility, culture, belonging, fulfillment, opportunities for advancement and work-life balance.
Providing a voice for the profession in government is also important. In order to maintain a long-term focus on our political awareness efforts and build relationships, members of the WICPA board will be meeting with our Wisconsin members of Congress. As representatives of the WICPA and our profession, we will reiterate that we are here to help, advise and provide guidance. When we make these connections, we establish relationships that can be helpful if and when issues arise that may impact us and our businesses.
One imperative we face is working to develop diversity, equity and inclusion (DEI) within the profession. According to U.S. Census data reported by the AICPA, minorities make up 40% of the population but comprise only 14% of the CPA profession. The AICPA suggests the following five key efforts to enhance DEI in our profession: 1. Understand the business case for DEI. 2. Provide support and flexibility for women in the profession. 3. Address biases, sense of belonging, and implications on advancement and retention. 4. Maintain accountability through measurement and the establishment of goals. 5. Support diverse students (high school and college) and young professionals. One of the best opportunities and most challenging aspects of our work is the constant of change. To paraphrase from the AICPA meeting: If we are to survive change, we must continue to find and develop talent, to re-evaluate
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One way to strengthen our voice is by contributing to the WICPA Campaign for Political Awareness (CPAC) and Legislative Involvement Fund (LIF). CPAC and LIF strive to protect the interests of CPAs, accounting professionals, clients, organizations and the public. You also have the opportunity to join the WICPA Public Policy Committee and regularly meet with your peers and Wisconsin state senators and assembly representatives. As CPAs, we take the next steps, always evolving — and continuing to “Adapt and Thrive” together. Angela C. Thomas, CPA, is the expenditure and revenue accounting section chief for the Wisconsin Department of Natural Resources and the 2021–2022 chair of the WICPA board of directors. Contact her at 608-318-3881 or angela.c.thomas@gmail.com.
On Balance
November | December 2021
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