disruption and innovation - tidewater chapter of the vscpa...disruption and innovation: how will we...

Disruption and Innovation: How will we manage and lead?

Tidewater Chapter Specialized Knowledge Day

- Maureen Dingus, COO

- Laura Cobb, Innovation and Leadership Director

Polling URL: vscpa3.cnf.io

AICPA Council Video

• Saved at Governance/AICPA/AICPA Council/2018 AICPA Fall Council Open

R

CPA

Evolving

Market

Expectations

Regulatory &

Legislative

PressureRapid

Technological

Advancements

Brand

Integrity

Education &

Examination

Unlearning &

UpskillingStaying

Human

VSCPA 2025 Vision

The CPA profession will be

known for its dynamic culture

of innovation, visionary

leadership, professional

excellence and stellar

reputation.

VSCPA 2025

Strategies

• Drive Innovation and

Vision

• Create a Culture of

Learning

• Influence Students to

Become CPAs

• Advocate for

Members’ Interests

CPA EvolutionThe CPA Evolution initiative aims to transform the CPA

profession and its licensure model in recognition of the

need for rapidly changing CPA skills and competencies

necessitated by constantly escalating technological

disruption.

Student Trends

• Enrollment and graduates are

down 4 percent

• Over the last two years a 30 percent decline in hiring of new

graduates

• Exam candidates decreased

• Minority enrollment up

Upskilling

Six uniquely professional skills

• Divergent thinking, curiosity, resilience,

informed agility, EI and social intel, next

gen teaming

Auditor of Future needs

• Tech savvy, knows how to request data,

skills in supporting tools, understand

statistical concepts, can read interpret

visualizations

What is the biggest enabler of innovation?

Source: IPSI Innovation Continuum report

Innovation Continuum

Evolutionary(incremental)

Revolutionary(breakthrough)

Expansionary

Seeks solutions from

existing concept to do

things better

• Adding XM radio to cars

Redefines the problem

definition to break

boundaries & create

new paradigms

• First washing

machine

Challenges the

problem definition

• Drugs designed for

one purpose but found to treat other

problems

Disruption and Innovation: How will we manage and lead?

Tidewater Chapter Specialized Knowledge Day

- Maureen Dingus, COO

- Laura Cobb, Innovation and Leadership Director

Polling URL: