Leading with Purpose: Shaping the Future of Accounting in a Time of Transformation
January 24, 2025
By Sarah Funk, CPA, CGMA
graphics: © iStock/gremlin
As Chair of the WSCPA Board of Directors, I am honored to lead during a transformative period for our profession. Halfway through my term, I reflect on our journey—a path marked by collaboration, innovation, and a steadfast commitment to excellence thanks to the high bar set by those who have come before me and the remarkable WSCPA staff.
Our profession continues to navigate an era of rapid, disruptive change. Pipeline challenges, technological advancements, evolving regulations, and shifting client expectations are reshaping the landscape at an unprecedented pace. In this environment, success requires more than adaptation—it demands the courage to lead with confidence. Challenges will arise, but we must face them with clarity and determination, acknowledging obstacles without allowing them to dictate our trajectory.
Charting a Vision for the Future
At our recent WSCPA board meeting, we engaged in a pivotal planning session alongside the Washington CPA Foundation Board and the WSCPA Diversity, Equity, and Inclusion (DEI) Council. These discussions underscored the importance of strategic vision and collaborative leadership. We focused on strengthening member engagement, exploring innovative solutions to enhance the value the WSCPA provides, and prioritizing initiatives that will shape the future of the profession.
This work is critical as we address the talent pipeline challenges facing our profession. The challenges go beyond attracting talent and must extend to include how to create an ecosystem where diverse perspectives thrive and contribute to our collective success. As a profession, we must bridge experience with ambition and ensure that knowledge is passed down to those poised to lead in the years to come.
Leading in the Age of Technology
A defining theme of our profession’s evolution is the role of technology, particularly generative artificial intelligence (AI). In a Puget Sound Business Journal article entitled, “AI is Here. Now, How Do You Use It?” Nick Pasion observed, “Employers are clear: Artificial intelligence tools are the next essential technology in the workplace. Like computers or email, it will become as indispensable as water or air.” It’s definitely hard to overstate the transformative impact of tools like ChatGPT, introduced just over two years ago. These advancements will continue to fundamentally impact how we work, offering us the ability to execute tasks with unparalleled speed and precision.
What will the specific impact be on accountants though? To borrow the words of Barry Melancon, recently retired AICPA President and CEO, “AI will not replace accountants; however, accountants who use AI will replace those who do not.” This statement serves as a call to action for our profession. The integration of AI into our workflows isn’t optional—it’s essential.
AI enables us to automate routine tasks, analyze complex data, and deliver deeper insights to clients and organizations. But the true opportunity lies in how we harness this technology to elevate the strategic value we provide. As leaders, we must embrace AI not just as a tool for efficiency but as a catalyst for innovation.
At WSCPA, we are committed to preparing our members for this technological shift. Attendees at WSCPA’s fall conferences learned about AI tools for accountants and how AI, through the introduction of deep fakes, is affecting cybersecurity. Through education, resources, and a focus on ethical implementation, we aim to ensure that every CPA is equipped to lead in this new era.
The World Economic Forum’s “The Future of Jobs Report 2023” indicates that, on average, workers are expected to dedicate approximately 44 hours per year to learning and training to stay current over the next five years. This equates to about 0.8 hours per week, or roughly 11 minutes per day. This investment in continuous learning is crucial for adapting to the rapidly evolving job market and technological advancements, including AI.
Addressing the CPA Pipeline Challenge
The accounting profession is currently facing a significant talent pipeline challenge. The number of accounting graduates and CPA candidates has been declining, and this trend raises concerns about ensuring an adequate future supply of qualified professionals.
In response, leaders within the profession and the WSCPA are advocating for reforms to make the path to becoming a CPA more attainable, aiming to increase accessibility while maintaining the profession’s rigorous standards.
These initiatives reflect a concerted effort to strengthen the CPA pipeline and ensure the profession remains robust and capable of meeting future demands. Be sure to read your Present Value newsletter for the latest updates on alternative pathway proposals and other news related to the pipeline.
The Power of Purposeful Leadership
As I look ahead to the remainder of my term, I am struck by the energy and optimism within our community. Events like the Emerging Leaders Workshop showcase the potential of our profession to inspire and drive meaningful change. These moments remind us of our purpose: to lead with intention, to innovate with vision, and to build a profession that thrives amid change.
Our path forward requires bold leadership. It requires a commitment to results-driven action, a focus on fostering inclusion, and a willingness to adopt new tools and technologies. But more than that, it requires us to work together, leveraging the strength of our collective expertise and passion. If you are looking for a way to share or grow your expertise, you can begin by joining a WSCPA resource group or committee.
Looking to the Future
The second half of this WSCPA year holds tremendous promise. With so many talented professionals in our community, I am confident that we will continue to achieve remarkable things.
Approaching the future with confidence, courage, and a clear vision. Together, we can shape a results-driven future for our profession—one that not only meets the moment but redefines what’s possible to future proof our profession.
Here’s to an exceptional year ahead. Let’s build the future we want to see.
