Vol. 8 No. 7, July 2016
The Leadership Forum is a panel of the most prominent thought leaders in the profession. This month we asked two questions and asked them to respond to the questions dealing with CPA firm management and leadership.
This month's question was:
Do you consider CPA firms, as a whole, to have been innovative during the past 20 years and what are the new innovations CPA firms are using?
Consultants and Other Prominent Observers
| L. Gary Boomer | Boomer Consulting, Inc. | www.boomer.com [email protected] |
| In my opinion, most firms have focused on partner income at the expense of innovation over the past 20 years. Most deferred compensation formulas are a multiple of a partner's average highest three years paid out over 10 years. This naturally provides less resources for innovation. Mergers have been the primary focus... More | ||
| Rex Gatto | Gatto Associates, LLC | www.rexgatto.com [email protected] |
| The creative process can be analyzed as two concepts: adaptation and innovation. Adaptation is the improvement of ideas that have been established. Innovation is the development of new ideas that stand alone. Are firms driving innovative change or is technology, competition, and client demands driving change? During the past 20 years, a great deal of innovation has occurred. Here are innovative drivers of change in CPA firms:... More | ||
| Marc Rosenberg | The Rosenberg Associates | www.rosenbergassoc.com [email protected] |
| To answer this question with CPA firms in mind, one has to define innovation quite liberally. But there have been changes -- whether they are truly innovative is a discussion for another time. Here we go!... More | ||
Firm Leaders
| Ed Fahey | RINA | |
| Progressive CPA firms have embraced technology to become more efficient and effective in our work. As a result, we are able to provide clients better information about their businesses in a real time manner. This has also led to expansion of services beyond compliance matters. Progressive CPA firms have also adopted better HR practices in developing staff and future leaders of the firm. We are more mindful of developing soft skills and relationship building. | ||