Leaders special interview - Rob Brown talks to Steve Cox, Head of Accountancy at Iris Software on the future of hybrid work and the accounting profession - Accounting Influencers

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Published on:

4th Dec 2021

The Future of the Accounting Profession with Steve Cox of Iris (Uncut)

On today's bonus UNCUT episode, a Leaders special interview where Rob Brown talks to Steve Cox, Head of Accountancy at Iris Software on the future of work and the accounting profession.

Steve Cox is Head of Accountancy for Commercial at IRIS Software Group. He is a technologist and chartered accountant (FCCA) who looks at how technology can simplify the modern working environment. Steve joined IRIS in 2002 and has worked in many areas of the business including Customer Support, Engineering, Product Management and Marketing. His most recent previous roles at IRIS include Senior Product Director, Interim CTO and Chief Evangelist.

Steve has almost 20 years of experience in technology and accounting which he uses to work closely with customers, software companies, accounting/governing bodies and the government to champion the digital transformation and role evolution of accountants. In his current role as Head of Accountancy, he looks across the globe at how technology and legislation is changing the roles and requirements professionals in the workplace and looking to the future to predict how their roles will further evolve.

Key takeaways from the full uncut interview include:

✓ The secret to longevity in software and fintech where the average job change happens every 1-2 years

✓ The key personal and professional changes that have disrupted the accountancy accountancy profession during the pandemic

✓ How the complexity and volume of regulatory change has ramped up for the accounting sector in the last couple of years

✓ The issue of recruitment and retention of suitable talent for accountancy firms

✓ How service delivery is providing challenges for accountants from increased demands of clients and regulation

✓ What percentage of the accountancy profession has been digitised so far

✓ How the new ways of working have increased pain points for CPA and accounting practices to cover all the bases in hybrid situations

✓ The challenge of building culture for accounting firms in a virtual working environment

✓ Research on the number of new accountancy practices being formed every month in the UK (and likely the same in other countries

✓ What an increased volume of start up, fully digitised accounting firms does for the marketplace and the pressure it puts the very small firms under to survive

✓ How client demands have changed throughout the pandemic and why the new starts ups demand more of their accountants due to technological advancement

✓ The subtle changes in what it means to be a trusted advisor, with a move towards 'agony aunt' and emotional as well as professional support

✓ Why many accountants are now being asked by clients to advise on areas they've never had training on, like recruitment or HR

✓ The arguments for and against in working for a big accountancy practice versus a smaller one

✓ Despite the uptick in new accounting firms starting up, some stats on how many are winding up, being sold or just dying

✓ Figures from the US and the UK about the trends in the so called 'recession proof' accounting sector

✓ Factors which might dictate what decisions accountants make about their time, particularly with work life balance and mental wellbeing

✓ What the next five years might look like for the world of accounting and fintech

✓ The three technology drivers that are disrupting the accounting sector globally

✓ Why artificial intelligence or AI will never replace the role of an accountant or CPA

✓ Where new competition is coming from for accountancy firms

✓ Comments on "its time to get rid of the accountant" software vendor plays from the likes of Xero, Ember and Pilot

✓ the number one most fundamental thing about the client-accountant link that vendors or automation will never replace

✓ Whether full ‘big-box’ suites might win over a variety of specialised apps for accountancy practices (best of breed vz best of suite)

✓ The importance of implementation and adoption to make software solutions work and integrate in accounting firms

✓ What might make software vendors work more collaboratively with other vendors and potential competitors in the future

✓ How accountancy firms can best plan and prepare for future change in turbulent times

✓ Where research, development, innovation and new design starts for software and tech vendors who work with accountants and CPAs

You can connect with Steve on LinkedIn here.

NOTE TO LISTENERS:

This is a full-length interview (usually 20-30 mins long) from which the highlights show earlier in the week was taken. You can listen to this on a previous episode.

Martin and Rob love to hear from the show's 7000+ listeners in 144 countries around the world. If you like the show, leave a review wherever you listen, and please recommend the show to your friends and colleagues.

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About the Podcast

Accounting Influencers
Entertaining short interviews with top accounting leaders on what makes the good firms and professionals great
ACCOUNTING INFLUENCERS is hosted by Rob Brown, co-founder of the Accounting Influencers Roundtable (AIR). Join hundreds of others on our next virtual speed networking event for influential leaders and professionals in the accounting, finance and tech world:
https://accountinginfluencers.com/events

On the show, Rob hits topics like leadership, people, talent, performance and success in the public accounting world. Listen for entertaining short interviews with top accounting leaders on what makes the good firms and professionals great. No fluff, just great bite-size insights from the people who count.

The show also features multi-person panels on the key trends, reputation and future of the accounting profession. Stay informed and relevant by subscribing to one of the world's top accounting podcasts.
https://www.linkedin.com/in/therobbrown
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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.