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AICPA Insights Blog
Insights for 2023 from Barry Melancon

Professional Insights



INSIGHTS FOR 2023 FROM BARRY MELANCON

Dec 16, 2022 · 5 min read · AICPA Insights Blog
Insights for 2023 from Barry MelanconInsights for 2023 from Barry Melancon


In this interview, Barry Melancon, CPA, CGMA, CEO of the Association of
International Certified Professional Accountants, representing AICPA & CIMA,
answered questions about the challenges and opportunities of the past year and
how the profession is preparing for 2023.

How did accounting and finance professionals demonstrate resiliency and
adaptiveness in 2022?

The accounting and finance profession has always been at the forefront of
problem-solving and driving transformation, none more so than in the last three
extraordinary years. In 2022, certified public accountants (CPAs) and Chartered
Global Management Accountant® (CGMA®) designation holders were asked to take on
yet another challenge — to lead our global economic systems through inflation,
rapid economic downturns and the financial and supply chain impacts of the war
in Ukraine. Our profession responded, without hesitation, to successfully guide
clients, firms, businesses and communities. Although they’re no doubt weary, I’m
proud of how CPAs and CGMA designation holders continue to rally around those
who depend on them.

Our profession used the agility honed during the pandemic to address these new
disruptions. And, because of this, we anticipated challenges and adapted to
change while continuing to uphold a foundation of trust, objectivity, ethics and
quality. The Association has also undergone an extraordinary transformation in
the last few years. Still, our priority has stayed the same: supporting our
profession, members and candidates.

What do you think is in store for the profession in 2023?

Going into the new year, we must evaluate and re-evaluate what’s needed for
long-term success. For example, finding and retaining talent is a top priority.
However, skilling and re-skilling are critical to identifying gaps in knowledge
that can have an impact on future business success. This is especially true for
mid-career professionals, who can combine new skills with hard-won work
experience. Having the right people with the right skills at the right time will
allow firms and businesses to respond to the marketplace, enhance
decision-making and drive productivity.

These are the same things we’re talking about at AICPA® & CIMA® as we work to
prepare the profession for the future. The coming year will bring challenges,
but opportunities are also on the horizon. It’s our role to help accounting and
finance professionals seize the opportunity.

Specifically, how will AICPA & CIMA help members “seize the opportunity” in
2023?

We’re developing initiatives to help members and candidates succeed in the new
year.

In 2023, we will continue to grow our CPE/CPD programs through the Business
Learning Institute and CGMA skills badges. To help the profession develop a
transformative mindset, we will publish research papers and modules to build
competencies around soft skills like strategic thinking, productivity and
decision-making. Although our members undoubtedly have the technical skills to
lead businesses and clients through uncertainty, it’s their soft skills that
build connections and make a lasting impact.

CPA and CGMA candidates are the profession’s future, and that’s why an ongoing
focus on the pipeline is so critical. The new year brings exciting changes to
the CPA Exam through the CPA Evolution initiative. We’re now in the home
stretch, and updates to the CPA Exam Blueprint and the updated Exam will be
released soon. We will also expand our efforts to make the CGMA designation the
gold standard choice and global passport for finance and controller roles
through the continued rollout of CGMA pathways from the Americas to Zimbabwe ―
through the CGMA Finance Leadership Program and the new Registered
Apprenticeship for Finance Business Partners.

We will increase advocacy efforts globally, working with CPA societies and CIMA
branch communities and engaging with regulators and policymakers. These efforts
leverage the profession for the public good and offer meaningful inputs on
everything from tax policies to effective government programs.

In the United States, we will continue our efforts to address the aging Internal
Revenue Service (IRS) operations and clarify complicated tax issues. In the
United Kingdom, we will maintain work to address cost-of-living pressures on
businesses and people. In countries such as Ghana, Poland, Hong Kong and South
Africa, we will continue advocating for greater support of small-to-medium-sized
entities and the growth of accounting and finance skills. And we will be an even
stronger voice in environmental, social and governance (ESG) matters, advocating
for rational and consistent ESG standards and reporting frameworks.

Our work in diversity, equity and inclusion (DEI) continues as a high priority
going into 2023. We will work with candidates, members and employers to increase
representation in accounting and finance. Additionally, we will continue to
unite our profession through networking opportunities such as our Women’s Global
Leadership Summitand other DEI events.

Lastly ― most importantly ― we will remain committed to putting our members at
the heart of AICPA & CIMA. We know some of our operational service delivery fell
below the standards we set ourselves. During 2022, we started a new technology
approach to better service members. Inevitability, as with any major platform
change, transitions can create frustrations for some members. We appreciate
member patience and cooperation both in 2022 and into 2023 as the phase-in
continues.

How did the profession face the challenges of 2022, and what are some of the
successes?

The accounting and finance profession ― as well as AICPA & CIMA ― demonstrated a
unique and powerful ability to evolve and innovate in today’s changes and
anticipate tomorrow’s disruptions. Because of this, we drove change in
extraordinary ways.

Global economies suffered rapid inflation and recession, and our profession’s
response demonstrated the value of its international presence. To help them
succeed, we met with members and their firms and businesses to understand their
specific pain points. In response, AICPA & CIMA kept up the popular AICPA Town
Hall Series and released quarterly Business and Industry Economic Outlook
surveys. We also created AICPA and CIMA resource centers to help members
understand the business impact of the Russia-Ukraine War.

CPAs and CGMA designation holders redefined business integrity and performance
in the ESG space through a focus on growth and sustainability. AICPA & CIMA are
committed to helping our members walk the walk ― through resources such as the
Sustainability and business: Environmental issues brief series.

A digital-first profession, accounting and finance professionals also embraced
technology such as anti-fraud programs, data visualization tools and artificial
intelligence (AI) to strengthen fragile supply chains. Management accountants
proved that leveraging data analytics and visualization can lead to better
decision-making. And as cybersecurity continued to be one of the top issues in
every company worldwide, the profession doubled down on efforts to provide
high-quality cyber risk management and assurance. AICPA & CIMA have supported
them by transforming our learning services for on-demand CPE/CPD compliance and
skills building. We also expanded our webcast and conference offerings.

Do you have any concluding thoughts for the year ahead?

I see so many great leaders in our membership ― leaders who guide their staff
through changes and challenges, mentor and inspire the next generation and
continue the legacy of this profession.

In 2023, I see us further embracing innovation and agility on our path to
continuous reinvention. We will remain invested in the digital world and
technological advances and protect integrity by upholding high professional
standards, ethics and conduct. And, importantly, we will always deliver trust.

Together, through AICPA & CIMA and the accounting and finance profession united,
we will continue to inspire trust, seek and capitalize on opportunity, and drive
prosperity for today and tomorrow. As we enter 2023, I wish everyone a very
successful, healthy and prosperous year ahead.



Insights for 2023 from Barry MelanconInsights for 2023 from Barry Melancon



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