Martin Bissett on Accounting Generations, Changes & Predictions

Episode 3. In today's interview, "Martin Bissett on Accounting Generations, Changes & Predictions." Martin Bissett is THE trusted adviser to accounting leaders and future leaders internationally. He creates professional communities for fintech vendor partners as well as a range of accounting networks, associations and alliances. He is a knowledge partner to accounting influencers globally and has authored 9 books including Passport to Partnership, content from which has been adopted into the curriculum of AAT Level 3 courses, and taught in selected UK colleges and US CPA Societies. Key takeaways from this episode include: ➯ the difference between working IN and working ON the accounting profession ➯ the importance of an independent perspective and voice commenting on the accounting and fintech world ➯ what Generation 3.0 looks like for the accountancy profession and an indictment on their achievements ➯ what separates the current generation of accounting professionals from previous ones and how it's moved on from 'fat white rich people' ➯ what the increased availability of university education has done for the current generation of accounting professionals ➯ how accountancy is less a middle class profession, especially with the advent of digital technology ➯ questioning the content and nature of accounting qualifications - are they fit for purpose? ➯ the key components lacking in today's accountancy qualifications and certifications ➯ is accountancy as a career becoming less attractive or have talent shortages always been present? ➯ the power wielded by the BIG 4 accounting firms in controlling the cream of the talent pool ➯ the main flaw in the way accounting firms recruit their next generation of talent ➯ the rationale behind accounting firms running a pipeline of people like a pipeline of prospects ➯ the main causes of the talent shortage in the accountancy profession ➯ the extent to which accounting firms have improved over the years and in which ways ➯ what has not changed in accountancy and CPA practices in the last 30 years ➯ why being closer to their clients during the pandemic is actually not a claim to success for accounting professionals ➯ the key factors that have hindered change in accounting compared to other sectors and industries ➯ how a lack of competition means accounting firms do not innovate and change as much as they could ➯ the evolution of the term 'business advisory' and other ramped up role descriptions in the accounting world ➯ Shout out to Ron Baker and his crusade on pricing, though too few accountants have implemented his advice ➯ the principle reason pricing for accountants and CPAs has not changed significantly over time ➯ the only thing that will make accounting firms change their pricing models and value their worth ➯ why innovation is much easier for accountancy practices now than in previous years, though few take advantage of it ➯ how a lack of incentive or economic imperative stifles change in accountancy ➯ what private equity in accountancy will do in forcing commercialism into the profession ➯ the fundamental difference between an accounting business and an accounting practice ➯ the power of accounting-related outcomes and storytelling to change the perception of accounting ➯ what gift accountants and CPAs should be giving themselves to make themselves, their practice and their profession more impactful ➯ what this current generation of accountants and CPAs need to show more of to make a difference in their careers and in the world Martin has spoken to audiences from over 40 nations on 4 continents and is retained by AccountingWeb and the International Accounting Bulletin as a judge of their prestigious awards. He writes for AccountingToday, AccountingWeb, CPA Practice Advisor and Chartered One. He has much to say on helping the accounting profession adopt an advisory role towards clients by moving away from compliance in order to create sustainable...