Most of us think about the future at least some of the time. Some of us think about the future a lot. A few of us may simply take each day as it comes? Those people probably read the headline and moved on. Because if you take each day as it comes, there is no need to prepare. But for the rest of us, preparation for the future is a big part of our everyday lives.
As a professional Society representing CPAs in Indiana, we spend a lot of time preparing for the future. INCPAS leadership and staff regularly assess the environment to consider what the future might hold and, as a result, how to best position the Society to prepare members for what lies ahead. It’s not easy, especially in this increasingly complex and global environment we all live and work in.
In our planning process, we have all of the standard strategy tools. Maybe even some tools that aren’t so standard. As a part of the Board of Directors’ annual planning process, the Board is divided and works in three task forces over a period of four months. These Board level task forces explore a specific area of interest to the profession or the Society, and provide recommendations for consideration by Board as a whole.
During the last calendar year, Board task forces addressed The Future of Competency, Integrated Reporting and Hyperspecialization. We’ve written blog posts on each of these three topics as well. The belief is that both hyperspecialization and integrated reporting will emerge in the CPA profession and business in general. If this is the case, the profession is compelled to consider appropriate competency models for the future. Even if integrated reporting and hyperspecialization do not emerge in the foreseeable future, the issue of competency will be a key consideration because of increasing complexity and the need for resilience with both individuals and organizations. Either way, the profession must be adaptive, agile and dynamic.
As a result of these task force reports, the Society’s Board of Directors has made amendments to the strategic plan to position the Society as your trusted advisor and resource as you prepare for the future. I urge you to read the three task force white papers, and reflect on what the future of competency, integrated reporting and hyperspecialization may mean to you. A lot of time and thought were put into the development of these papers, and we hope many members will benefit from this work done on your behalf. How do these issues affect you?