People Development Tips for Growing Accounting Firms

Episode 20. In today's episode, Rob Brown interviews Bill Reeb and Tommye Barie on "People Development Tips for Growing Accounting Firms." Tommye Barie is a recently retired partner of one of the 100 largest full-service accounting and consulting firms in the US. Her thought leadership on culture, strategy and innovation led to Tommye being recognized as one of the 100 most influential people in the accounting profession, as published in Accounting Today. She is a past Chair of the Board of the American Institute of CPAs and is actively involved in the international accounting profession. She currently represents the United States as a board member of the International Federation of Accountants (IFAC). The IFAC is a global organization supporting the development of and promoting the adoption and implementation of high-quality international standards. Bill Reeb is a CPA and has been consulting for three decades in the areas of strategy, leadership and change management. He d became a CPA in 1986. An award-winning public speaker, Bill and his partner, Dom Cingoranelli, have co-authored Securing the Future: Building Your Firm’s Succession Plan and Securing the Future: Implementing Your Firm’s Succession Plan. Bill is past Chair of the Board of the AICPA, is a current and past member of the Board of Directors and Council, and past Commissioner on the National Accreditation Commission. He also serves as an advisory board member to several organizations, including CPAFMA. Accounting Today has recognized his efforts by listing him as one of the Top 100 Most Influential CPAs. CPA Magazine has named him as one of the Top 100 Most Influential Practitioners, and Inside Public Accounting has listed him as one of the top 10 most recommended CPA firm consultants. Key takeaways from this episode include: ➤ Proof that accountants are actually 'people people' and why accountants are actually NOT unique in what they do ➤ The problem of accountability in professional firms and the importance of knowing who your real boss is ➤ The biggest shortcoming in professional firms of any size ➤ The vital role of competences for people development in accounting firms ➤ The problem caused by accounting fee-earners being technically strong or soft skills strong, but not both ➤ What will happen to those accountants who are not willing or able to be coached or developed in their firm ➤ Why people's goals should be tied to performance in an accounting firm ➤ The big reason most accountants don't know how to manage people ➤ The 5 core skills that modern day accountants need to be successful ➤ What gets 70% of accountants promoted and what makes 80% of them fail ➤ The role of culture in developing a coaching, development mentality in accounting firms ➤ The one thing that makes you money in your accounting role ➤ Why 'not having the time' is a bad excuse for professionals who avoid doing what needs doing in a firm ➤ The difference between subjective and objective goals for accounting professionals ➤ What leaders in professional firms are really responsible for ➤ Exactly what accountability means when leading and managing your people ➤ Why self motivation doesn't work in professional firms who want to grow ➤ What makes performance evaluations or development reviews fail in professional service firms ➤ The biggest challenge growing accounting firms face in developing their people ➤ The two main areas that require investment in the future for accounting firms to succeed ➤ Why technology is now a key component of the accounting qualification, at least in the US ➤ Why accountants must move from the data and information space to the knowledge and decision space ➤ Why the accounting profession is the greatest there is ➤ What causes complacency and lack of change in accounting firms Tommye has always placed importance on leveraging her leadership skills and experiences to influence the lives of young professionals. Throughout her...