A season of change
Chair's Message
Bob Cedergren, CPA | October/November 2023 Footnote
Like any good Midwesterner, one of my favorite traits of this part of the country is the joy of experiencing seasonal change. Each season is unique and brings its own moments of wonderment and, depending on your perspective, times of despair. There is something in each season for every one of us.
Like nature's seasons, our profession, too, has those elements of wonderment and despair. As we move through autumn, many of our colleagues, whether in public accounting or private industry, are gearing up for the busiest and most stressful part of the year. Budgeting, tax planning and preparing for the financial statement audit, etc., are just a few of the activities in front of us; lest I forget to mention relearning our routines with school in full swing now, fall sports filling our calendars and preparing our homes for the impending long winter's nap. While some of us may thrive in this "season," others view it very differently.
Our profession is experiencing changes as well. We must acknowledge a continued talent shortage and the number of young adults selecting accounting as a profession continues to decline. Both the MNCPA and the AICPA have plans in place to increase the pipeline of accounting students, but this is not a quick fix. It will take time to get back to the place where we had more candidates than open positions.
Other changes include the CPA Evolution, which brings a new format to the CPA exam in January 2024. Technology also continues to move at a rapid pace. Artificial intelligence (AI) will have a major impact on our profession and our clients in the very near future. The speed at which AI is being introduced into business processes is astounding and it shows no signs of slowing.
As CPAs, we need to not only embrace the changing world that we live in but adapt to it in order to best serve our clients and businesses, keeping our profession relevant. Clients will continue to place a high value on the relationship they have with their CPA as a trusted business adviser, and we need to be able to answer the call. It can be overwhelming to consider how much motion there is in our professions and lives but take advantage of the next season — the sometimes-dreaded winter — to find moments to slow down and draw in a deep breath of cool air. It can be refreshing and resetting in more ways than one.
See you at the New CPA Recognition Dinner, Tax Conference
I would be remiss if I did not mention the many upcoming conferences this fall from the MNCPA, including the always popular MNCPA Tax Conference, which is Nov. 13-15. Take a look at
www.mncpa.org/CPE for all CPE opportunities.
Lastly, one of my favorite events is recognizing Minnesota's newest CPAs. The next MNCPA Recognition Dinner is Oct. 24, at the Metropolitan Ballroom in Golden Valley. Please put this event on your calendar and join us as we celebrate this professional milestone with the new CPAs, their firms, family members and friends. It is truly an exciting event and it's paramount to support our newest colleagues.
Enjoy the season!
Sincerely,
Bob Cedergren, CPA
