Change Your Mindset

Tom Hood was a wonderful guest on today’s show. He’s a great forward-thinking leader in the CPA world and delivered great value to the audience with his insights into technologies and trends for the future.Tom just returned from a spring council meeting for members of the American Institute of CPAs. A big takeaway from the meeting is the sense that people are beginning to understand the impact of the exponential pace of technology. Big changes like continuous auditing of 100% of transactions are right around the corner, as well as automation within the financial world. Big ticket items will still remain with professionals, but the entry level tasks will be moved to machines soon. “We’re going to need new skills and need them faster probably than we think and we’re going to need to focus on things that computers can’t do.” The trust and relationship side of accounting are aspects that we need to leverage: we need to get better at doing what computers can’t do.Tom has been able to predict many of the things tha