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Digital CPA by CPA.com
Transforming CPA Firms: Insights from Lisa Simpson on Business Model Transformation
Nov 26, 2024
Lisa Simpson, Vice President of Firm Services at the AICPA, dives into the vital topic of business model transformation for CPA firms. She discusses the shifting landscape of public accounting and the cultural evolution needed to attract talent. Key challenges and opportunities emerge, driven by technology and governance changes. Lisa emphasizes the importance of innovative leadership and adapting compensation structures for success. The urgency of starting this transformation journey is highlighted, especially with 2025 on the horizon as a pivotal year.
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Quick takeaways
- Business model transformation in CPA firms requires a supportive culture and a focus on team success to enhance performance and attract talent.
- Key driving forces for transformation include talent dynamics and technological advancements, pushing firms to rethink their operations and governance structures.
Deep dives
Understanding Business Model Transformation
Business model transformation in CPA firms is about redefining traditional operating models to enhance team success and attract new talent. This holistic approach emphasizes the importance of creating a supportive culture that enables firm leaders to adapt to the evolving landscape of the profession. By focusing on the success of team members, firms can improve overall performance, thereby contributing to the industry's growth. This transformative process requires an examination of not only pricing models but also the core culture of public accounting.
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