What really got me was the title of a discussion with Ron Baker. – Do Accountants matter anymore? Ron is no light-weight. He is a member of the American Institute of Certified Public Accountant’s Group of One Hundred, a think tank of leaders to address the future of the profession, named on Accounting Today’s 2001, 2002, 2003, 2004, 2005, 2006, and 2007 Top 100 Most Influential People in the profession, and received the 2003 Award for Instructor Excellence from the California CPA Education Foundation.
Here is an extract from an interview with Ron in the official LinkedIn Accounting group that enjoys close to 500,000 members globally. Ron the founder of the VeraSage Institute, explains why the industry is on the verge of becoming irrelevant.
Question: What is the biggest risk to the accounting profession?
Answer: People are not going to like this, but I see the biggest risk to the accounting profession as irrelevancy. They’re high-priced bookkeepers and unless they move away from the idea that they’re historians with bad memories, who can only report on the past, who can only report on lagging indicators (they’re in trouble). … You go into a lot of these firms and they’re doing very low-level work and then they sit around and complain and moan that it’s a commodity. Well, sure. It’s low-value stuff, and if that’s all your doing, then you’re going to be stuck with government regulation revenue, and I see that as the biggest threat to our profession. I actually question whether CPAs are a profession anymore. We don’t have self-regulation. We don’t have autonomy. We’re ruled by peek-a-boo, we’re ruled by state boards of accountancies in a lot of states that are a majority regulated by non-CPAs. That’s not the definition of a profession. A profession stands for something. I don’t know what the CPA profession stands for anymore.
Visit the group’s link for the full story: http://www.linkedin.com/groups/LinkedIn-Accounting-4297170?trk=myg_ugrp_ovr
See you next post,