The Future of Accounting and Why Firms Need to Change - Accounting Influencers

Episode 19

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Published on:

10th Oct 2018

The Future of Accounting and Why Firms Need to Change

Chris Hooper

Chris Hooper is an Accounting Futurist and is the Founder and CEO of Accodex, a global cloud accounting network with a mission of democratizing business intelligence.

His company has been named the most innovative firm in Australia, beating Big 4 firms to get there. He is a regular commentator in business and accounting media. He is also a prolific speaker in the accounting profession with appearances including TEDx, XeroCon, CountX, QBConnect and Accountex.

Chris Hooper’s career started in the fitness industry of all places. It was here he learned the ins and outs of small-business. After struggling to get his head around the idea of bookkeeping, GST and tax, he concluded numbers side of business needed some improvement. His journey is fascinating, and Chris is now one of the world’s most respected experts on the future of and challenges within the accounting industry. Here are some of the highlights and soundbites from the interview with Chris – this guys knows his stuff!

  • How the greatest accountants a very keen sense of intuition when it comes to numbers and financials.
  • Great accounting firms are well positioned, tech-savvy, have a fresh brand, a strong marketing presence and a few more things…
  • Democracy is a fallacy in many in large accounting firms, yet strong leadership and direction from the top is essential.
  • The biggest challenge for large accounting firms is the pace at which they move – it’s very difficult to elicit change in big firms.
  • Big firms that survive and thrive will be able to master the fast moving technological landscape.
  • Technology is driving the the imperative for change, and every change management plan is cultural.
  • Tip to get people acclimatize to big change – make small changes constantly so staff are comfortable with the uncomfortable.
  • Disappointment with audit – there should have been more innovation and time-centric software over recent years.
  • The common denominator in successful firms is brand advocacy – everyone in the firm should be proactive about business development.
  • Changing accountant happens much more readily these days because the switching costs and time delays are much lower.
  • ‘The end is nigh’ mantra has been overplayed in the accounting world. Disruption, yes, but not demise!
  • Accounting firms that do not manage change will struggle with recruiting talent and succession.
  • Top 100 accounting firms should ask themselves: ‘what are we doing to entice the young employees to stay here?’ 
  • Hiring good people is always a battle. You hire for attitude, you train for skills.
  • The importance of training cannot be underplayed – it’s one of the main things millennial accountants are looking or in their career.
  • Accounting firms that have adopted cloud and are 100 per cent paperless have a huge advantage in the marketplace.
  • Best advice to further your accounting career – get a mentor as soon as possible.
  • and much much more…

Chris Hooper is in the business of predicting the future of the accounting profession, and it’s his mission in life to change the accounting game forever. Some of the ways he is working toward his mission are:

• Leading by example with my company Accodex, a support platform for freelance accountants.

• Creating the next generation of leaders at Future Accountants Network, an online academy teaching soft skills and technical skills.

• Teaching and mentoring accounting and business students that are going to change the world.

• Writing and speaking about accounting industry trends.

 

To contact Chris: 0870717232 (Australia)  Liked your Top 100 Club Podcast Interview with Rob Brown" target="_blank">email him directly>>

Accodex Website or http://linkedin.com/in/christopherhooper

Twitter:  ChrisHooper87

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About the Podcast

Accounting Influencers
Insights, interviews and commentary for accounting, CPA, bookkeeping and finance professionals
ACCOUNTING INFLUENCERS is a weekly podcast for accountants, CPAs, bookkeeping and finance professionals, together with the networks, associations, fintech vendors and influencers who lead them, work in them and serve them.

The show is hosted by Rob Brown. co-founder of the Accounting Influencers Roundtable (AIR). The style of the show is not overly technical/technological/tax in nature but more on people, performance and success in the accounting world. Popular topics and themes covered include:

☑ leadership, executive presence, trust, integrity & reputation
☑ M&A, business models, future proofing, drivers of change & disruption
☑ performance, values, culture, vision & strategy
☑ employer brand, gen z/millennials & talent - succession, recruitment and retention
☑ industry trends, statistics and patterns
☑ growth, marketing, differentiation & positioning
☑ pricing & profitability
☑ digitisation, cloud, technology & automation
☑ advisory services, niches & emerging markets
☑ environmental & social governance ESG
☑ diversity, equity & inclusion DEI
☑ professionalism, career development & CPE/CPD
☑ business acumen & commercial awareness

Sources and guests come from:
★ EXPERTS - influencers, disrupters, consultants, gurus, podcasters and broadcasters in accounting and fintech
★ EVENTS - live coverage and interviews from exhibitions, conferences and a range of industry events
★ MEDIA - newspapers, online outlets, commentators, writers, bloggers and authors
★ VENDORS - suppliers and providers of accounting apps, platforms, fintech and software
★ REGULATORS - professional accounting bodies, institutes and associations
★ NETWORKS - alliances, associations, networks and communities of professional firms and accounting practices
★ SOCIAL MEDIA - opinion pieces, high engagement posts and controversial conversations

Rob Brown is a renowned presenter, facilitator and chair of high level conferences, panels and events globally for the accounting and fintech profession. He is retained by many professional networks, alliances, associations, practices and vendors to chair their events and provide high-level interview content for their communities.

He is a dynamic speaker and accomplished expert on trust, reputation, employer brand, talent, career development, succession, gen z/generations, executive presence, referrals, networking and winning new business. He is also the bestselling author of Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 320K times on YouTube.
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About your hosts

Martin Bissett

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Martin Bissett is the founder of the Bissett Group of companies that provide practice and personal growth communities, content, and continuing education exclusively to the accounting and bookkeeping professions worldwide.

Previously he established a high six-figure consulting firm while serving as a keynote speaker with over 100 one-off and repeat engagements to his name, as well as becoming the most published author on his topics of specialism with 11 books including 1 bestseller.

Since 1998, he has played a major part in working with over 1800 accounting firms in over 40 countries. These projects have led to those firms acquiring over £500m of recurring fees before inflationary increases, referrals and upselling are factored in. He stopped keeping track of this number over 5 years ago. Martin now advises both accounting practitioners and FinTech companies alike, at board level.

Rob Brown

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Rob Brown is a renowned MC, facilitator and chair of virtual and in-person panels, conferences and events globally for the accounting and fintech profession.

Rob is co-founder of the Accounting Influencers Roundtable (AIR) mastermind group and co-hosts the world’s most popular accounting and fintech podcast: Accounting Influencers.

Throughout the pandemic, he chaired 24 virtual panels with leaders of global accounting networks and alliances to discuss the key issues and challenges. Rob is retained by several associations and vendors to chair their events and provide high-level interview content for their communities.

He is the bestselling author of Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 300K times on YouTube.