Key insights from the AICPA & CIMA Future of Finance summit - 2022

“Incredible, is the only way to describe the last few days at the AICPA & CIMA #futureoffinance Summit! The keynote speakers were on point and each breakout session I attended delivered fantastic insight. The cherry on top was the relationship-building”.

?This was one of many valuable reviews received after AICPA & CIMA’s second #futureoffinance Summit – held in Austin, TX this month and attended by over 100 senior finance leaders representing a range of organizations from Fortune to not for profit.

“It struck me that not one of the sessions was on numbers” remarked a Fortune exec.???Topics included #talent attraction and upskilling (still the number one priority of this group), #digital transformation, #agile and the opportunity to lead your organization’s #esgstrategy and focus to drive business performance.?All about shifting to partnering with our businesses to create sustainable value. We also wanted to confront critical relationship topics such as workforce development, #dei and creating #psychologicalsafety.??We were amazed at how all the participants leaned in to those conversations.??

These are the major themes that emerged:

The next generation of finance leaders have different needs and career aspirations. According to panellists on our Young Professionals panel – which aligned with insights from keynote speaker Kerry Brown – top requirements include flexibility and a clear career pathway to advancement.

Continuously transforming. Finance leaders must expect continual change and transformation as standard. Several presenters shared their journeys taking place over 10+ years including hearing from finance leaders at Coca-Cola and GSK. Planning, commitment to change and talent development remains critical to successful transformations to meet the future needs of the business.

Act and then React. Great session led by Pascal Finette and Jeffrey Rogers on transformation. Due to the speed of change, finance leaders must become more comfortable making decisions quickly and without all the information.

Get your #esg ducks in a row. We heard from Yelp and the ISSB on the critical role we can play as finance leaders. It is clear that it is much more than just reporting - it has significant implications for enterprise value over the short and long term. ?Also a commitment to diversity, inclusion and equity has never been more important to talent and employee satisfaction and growth.

How can you get involved?

Please DM me if you would like more information on our #futureoffinance initiative and how you can take the findings and drive the value of your finance functions forward.??

You are also welcome to join our Future of Finance Linked In group by clicking on:?https://www.dhirubhai.net/groups/9082183/.?

I also invite you to listen to the views of finance leaders who attended our Summit by clicking on:https://www.journalofaccountancy.com/podcast/cpa-news-future-finance-takeaways-talent-transformation-trust.html

?Finally

“Grateful for opportunities like these to connect, learn and positively impact the future of our profession. The #FoF22 Summit is over, but the connections and memories will last a lifetime.”

?We welcome you as part of the community!?????Happy holidays!

Barry Payne is Director, External Relations at AICPA & CIMA. In this role, he serves as a liaison to CFOs and finance leaders to understand how finance teams are evolving and explore the skills, competencies and mindsets that are emerging and important.??Barry is working to elevate and accelerate the value of CPA and CGMA in the America’s corporate accounting and finance world.