We need to broaden the base from which they operate. Competencies that will be increasingly important in upcoming years are communication skills, strategic and critical thinking skills, focus on the client and market, interpretation of converging information and technological adeptness, Mattson said. Through a series of forums held around the country, a number of issues were identified as those that will affect the profession in upcoming years. CPAs must be market driven, not dependent on regulations to keep them in business. The market demands less auditing and accounting and more value-adding consulting services.
Specialization is critical for future survival of the CPA profession.
The marketplace demands that CPAs be conversant in global business practices and strategies. Those involved with the CPA Vision Project are trying to prevent for their profession what happened in the medical field, Mattson said. As a result, they couldn't determine their own destiny and now they are trying to regain control. Mattson said a significant challenge has been to respect the differences in the accounting profession while looking at the similarities. The group is committed to making sure the Vision Project remains a grassroots effort so that ordinary CPAs are the ones helping shape the profession's future, she said, noting that more than 3,000 CPAs nationwide participated in forums about the Vision Project.