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PODCAST: The trends accountants need to know

Written on Jun 30, 2022

By Jessica Salerno-Shumaker, OSCPA senior content manager 

As the business environment rapidly evolves, so does the accounting profession. 

In this week’s episode of The State of Business, we’re covering a few areas that are growing in popularity and will become topics accountants need to contend with soon. 

If you aren’t learning more about ESG, now is the time to start. Accountants who understand environmental, social and governance (ESG) factors can grow their advisory skills and become a stronger asset for their business. We spoke with Mary Adams, founder of Smarter Companies, on how accountants can play a critical role in the success of ESG at their businesses. 

“This isn't a fad,” she said. “It's something all accountants are going to need to know. And it opens all kinds of new avenues for thinking and performance for value. And from an accounting perspective, it adds value to the conversation and strategic conversation with your company.”  

The evolution of work is another trending topic in the profession, especially amid the company decisions to return to the office, stay remote or go hybrid. 

We spoke with Dave Staley, associate professor in the Department of History at the Ohio State University and president of the Columbus Futurists, on the pandemic-related changes we expect to see in the next five to ten years and the future of work.  

“There is no one silver bullet,” said Damon Hacker, President & CEO and a founder of Vestige Digital Investigations, a digital forensics company with headquarters in Cleveland. “Cybersecurity is a lot of small things done well, that when put together really make a much bigger protection.”  

Technology remains at the top of the list when it comes to areas CPAs need to understand well, and that includes cybersecurity issues. Hacker said says the key is to take a multi-pronged approach to protection.