Learning for the Future

Abstract

must change to meet the new challenges facing the profession. At the end of the first phase of the CPA Vision Process, delegates from the country's 50 states and three jurisdictions emerged from the National Future Forum with lists of the accounting profession's top-five values, services, competencies and issues (see sidebar, page 44). Topping the list of values is a reaffirmed commitment to continuing education and lifelong learning, stated as follows: CPAs highly value continuing education beyond certification and believe it is important to continuously acquire new skills and knowledge. This commitment--regarded by some as a hallmark of the profession--will prove vital to developing the core competencies, providing the core services and successfully confronting the key issues identified through the Vision Process. Vision Process is defining a new ballgame, with a new playing field, new competitors and new rules. Getting in shape will require a new training regimen--a more integrated approach to continuing professional education that goes well beyond technical updates. To get a glimpse of what impact this change initiative will have on how the profession approaches CPE, the Journal talked with representatives from three state societies. PUSHING THE REGULATORY MODEL CPE traditionally has been driven by the regulatory model--the old tax-audit mentality says Tom Hood, executive director of the Maryland Association of CPAs. The Vision Process has helped surface the need to develop broad-based skill sets in areas such as communications, strategic thinking, negotiating and leadership as well as to cultivate a broader business perspective Hood, a former industry CFO, is excited by the fact that is shifting its focus from individual courses to competencies--from incremental improvement to long-term added value--something he regards as essential if CPAs are to achieve the vision glimpsed through the Vision Process. Competencies are focused on skill sets needed for success in today's marketplace, not just enhancing technical proficiency he says. Developing a competency in leadership, for example, involves practical application on the job or as a volunteer, not just sitting in a classroom. Now that we've gone public with our core competencies, I hope more and more people will offer the appropriate training, which could incorporate hands-on experience with peer groups, computer-based simulations, and other training customized to the individual's level at a point in time. Hood is quick to caution that until state boards of accountancy are comfortable with competency-focused CPE, CPAs won't be comfortable taking those credits. For most CPAs, whether in industry or public practice, is a cost-based decision, he observes. You take the hours you need to meet the regulatory requirements. Only after fulfilling your 80 hours will you take courses in other areas. I acquired many of the skills I needed to survive as an industry CPA through training programs that didn't count toward my qualifications. In short, there may not be enough initial demand to drive new program development. That's the scary part of it, says Hood. The burden is on the state societies to get regulators to accept courses that promote development of skills beyond tax and audit as qualifying for normal CPE. In Maryland, we're working hard to convince our state board that CPAs in public practice as well as industry are currently required to have these kinds of skills in consulting for their clients. And if practicing CPAs are being paid to provide such services, there's a public interest in ensuring that they have the appropriate competencies. As a CPA, Hood welcomes the reaffirmation of the commitment to lifelong learning that's come out of the Vision Process. It creates tremendous opportunities for us at the state societies and for the CPA as providers to help build this profession in the 21st century. …

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