Welcome back to Thrivecast, where we dive deep into the mechanics of running a firm and the trends shaping the professional landscape. In today’s episode, we’re excited to have Tom Hood, EVP of the AICPA and Business Learning Institute, join us to unravel the complexities surrounding the CPA profession.

We tackle the hotly debated 150-hour rule for CPA exam eligibility and discuss its ten-year journey to legislative reality. As we navigate the impacts of this requirement on professional mobility and the talent pipeline, Tom sheds light on the formation of the National Pipeline Advisory Group (NPEG) by the AICPA, aiming to align the accounting world amidst varying state regulations.

Our discussion leads into concerns over the profession’s outlook, from legislative challenges affecting mobility to the potential risks of an anti-licensing movement. But it’s not all hurdles and high jumps; the silver lining reveals itself as we dissect the necessity for CPAs to find balance – charging fair prices, avoiding burnout, and staying ahead of technology, including AI, to thrive in their roles.

Tom reminds us of the importance of asserting value and provides insights on maintaining professional standards while nurturing work-life harmony. His insight will leave you pondering on the vision of a profession empowered by AI, a discipline that continues to demand the brightest minds to innovate and evolve.

So, tune in, as we reflect on these pressing issues, explore the necessary legislative landscapes, and ultimately, chart a course for a hopeful future in accounting.

Talent Pipeline & Survey – National Pipeline Advisory Group https://www.accountingpipeline.org/participate/

Future of Finance – Forbes article – fits CAS Practices CFO Ongoing Evolution: From “CF-No” To “CF-Know” https://www.forbes.com/sites/forbesfinancecouncil/2023/08/23/cfo-ongoing-evolution-from-cf-no-to-cf-know/?sh=57ddf2aa2acc