Simon Dealy, CPA, MBA

There's been a noticeable increase in companies reporting material weaknesses in their financial controls and SEC reporting due to a shortage of skilled accountants. This issue has led to more CFO turnovers, with around 28% of publicly traded companies experiencing such weaknesses replacing their CFOs in the past year. The shortage of accountants is largely due to retirements and fewer new entrants to the profession, as many potential candidates are deterred by lower entry-level salaries and the extensive education requirements. As the accounting talent gap continues, it raises questions about whether replacing CFOs is the right solution. Of course, addressing the top of the chain makes a more dramatic public statement - but the root of the problem is ultimately the ability to hire and retain talented accountants.

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How can firms sustain client advisory services (CAS) growth? By delivering high-value business insights. Learn how one firm is leveling up its CAS practice with CPA.com’s CAS 2.0® framework. 🔗 https://lnkd.in/ePCisGry

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Eric Abati, CEO of ATKG, and other industry experts agree that the Accounting Industry's talent shortage could be an opportunity for firms with winning culture to flourish! "The winners in the battle for talent will be firms that not only attract but also retain an engaged talent base. These successful firms will achieve this by creating a culture that fosters mutual support, offers meaningful career opportunities, promotes team cohesion, and ensures both personal and professional fulfillment. Such firms are poised to establish a distinct competitive advantage for years to come. Simply put: Culture wins." https://lnkd.in/engByV82

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The Financial Accounting Standards Board is rolling out a series of new proposed accounting standards updates by the end of the year. It's also planning on one final standard and an invitation to comment. FASB chair Richard Jones discussed the board's plans at the FEI CFRI conference this week. #accounting

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In a dynamic business climate, the CFO role has transcended traditional accounting. It's no longer just about the numbers—it's about strategy. What is the transition from a controller to a deeply strategic leader like? Seasoned CFOs shared their transformative journeys, emphasizing the importance of forward-thinking and innovation. Key takeaways include: 1. Strategic leadership is about influence, not just oversight. 2. Creating cross-functional partnerships within your organization is invaluable. 3. Staying abreast of industry trends can shape proactive financial strategies. #FinanceLeadership #CFO #StrategicThinking

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Revitalize your accounting talent pipeline with more than just competitive pay. Learn how culture, tech and well-being are key to attracting the next generation of accountants.

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If you're considering a move to the private equity sector and need more information on these key topics, this free guide is for you: ➡ Key Differences Between Larger Corporates and Private Equity ➡ How PE Compensation Works ➡ Red Flags in PE Compensation Packages ➡ Positioning Yourself as an Ideal PE Candidate ➡ Steps to a Successful Transition Get the insights you need to make a successful switch. Get your copy here: https://lnkd.in/gf7ymH8Y 

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ASC 360 (formerly SFAS 144) governs the accounting for long-lived assets. It requires a two-step test for evaluating goodwill impairment, using undiscounted cash flows. SEC scrutiny on ASC 805 and 350 valuations underscores the need for expert opinions. Contact us at Appraisal Economics for robust valuations that meet SEC standards in #mergers, #acquisitions, and #divestitures.

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Yes, this is a busy time of year. No, you don't have to work around the clock. Please let CFS help you with staffing on a temporary, permanent, or project basis in accounting, finance, HR, and technology. I've created a video (> 60 seconds) describing one of our top accounting consultants who is available immediately. #cfstaffing #accountingprojects #financialprojects #technologyprojects #HRprojects #systemimplementations #yearendtasks

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How tech can help finance leaders enhance the collection and analysis of cross-sectional data which is essential for measuring ESG and achieving long-term goals? CFOs must broaden their mindset from just managing money to working cross-functionally to pave the way for future growth.

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How did Ascend CEO David Wurtzbacher take his firm from zero to one of the Top 30 CPA firms in just two years? 💡 It wasn’t luck—it was a bold mix of strategic leadership, innovative technology, and a people-first approach. In this exclusive interview, David reveals: 👉 The leadership shift redefining the accounting profession. 👉 Why talent and technology are the ultimate growth accelerators. 👉 How firms can embrace change and thrive in today’s market. Curious about the future of accounting leadership? Don’t miss these game-changing insights. 📖 Read now: https://lnkd.in/efrh2QGr #AccountingInnovation #LeadershipInsights #WinningWithTalent #privateequity #PE #makingwaves

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We’ve hired a number of Controllers recently, and it’s clear there’s a massive shortage of talent in this space. So, if you’re a CFO, how can you make your position and firm stand out to attract that A-star ⭐ Controller in today’s competitive market? 🔍 Focus on Culture: Talented Controllers want to work in environments where they feel valued and can make a real impact. Showcase your company’s culture, values, and commitment to professional development. 💼 Offer Growth Opportunities: Highlight clear career advancement paths within your organization. Controllers are looking for roles where they can grow into leadership positions. 💡 Expand Their Remit: Of course, Controllers know what they are good at and what you need them for—strong accounting expertise. But can you expose them to something new? Consider offering them opportunities in finance, M&A, international GAAP, fundraising, etc. Expanding their remit can make your role more attractive and foster their professional growth. 🏆 Competitive Compensation: In a tight market, top talent will gravitate toward firms that recognize their value with competitive salaries and benefits. In today’s market, attracting top Controller talent requires more than just a job offer—it’s about creating an environment where they can thrive, grow, and expand their expertise! #CFO #Controller #FinanceLeadership #TalentAttraction

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Private equity is making big moves in the accounting world, and it’s easy to see why. With aging partners retiring and a shrinking CPA talent pool, traditional firms like Baker Tilly and Grant Thornton are turning to outside investors for fresh capital. These PE deals help fund technology upgrades, acquisitions, and new compensation structures to attract younger professionals. While some see this as a game-changer, there are potential conflicts and how it might affect audit independence in the long run. The next question is when is this coming to lawfirms? #PE #M&A #AccountingIndustry

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This Friday, you’ll get to learn the pathway to becoming a CFO in private equity directly from PE-backed CFO & Finance Expert Robert (Bob) Gold! Bob has led four major PE transactions across diverse sectors like Healthcare, Industrial B2B, Defense, and Consumer Products. He’s worked with prominent firms such as: ☑ Partners Group: Over $160 billion AUM ☑ Centerbridge Partners: Over $35 billion AUM ☑ Aurora Capital Group: Around $3 billion AUM What You’ll Learn: ▶ How to Land a PE-Backed CFO Seat: Proven strategies to secure this highly competitive role. ▶ What Being a PE-Backed CFO Entails: A behind-the-scenes look at the responsibilities and challenges. ▶ Why CFOs Are Drawn to Private Equity: Discover the unique benefits and career growth that private equity offers. Don’t miss this chance to gain exclusive insights from Bob Gold and have your questions answered in a LIVE Q&A session! 📅 Date: September 20th, 2024 🕒 Time: 12:30 - 1:30 PM EST 📍 Location: Virtual Event in our private Thrive Community RSVP by joining our community today to secure your spot. 🔗 Join our Community & RSVP here: https://lnkd.in/ea7E9j53 

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🏔️New challenges? 🧗The tax and accounting industry is always evolving to overcome them. ➡️📑The 2024 State of Tax Professionals Report reveals how proactive accountants are gaining a competitive edge. From Thomson Reuters: "The traditional hourly billing model is being reconsidered. More firms are adopting alternative pricing strategies such as flat-fee, value-based, and retainer models to better meet client expectations and enhance revenue predictability." Read the full article here: https://lnkd.in/gZkdDj7T #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #Report #Talent #Revenue #Strategy #Automation #Growth

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Private equity firms are making significant moves in the accounting sector. Over the past few years, PE firms have acquired stakes in top accounting firms, including: ‣ Baker Tilly (10th largest by revenue) ‣ EisnerAmper (18th) ‣ Citrin Cooperman (23rd) ‣ Cherry Bekaert (26th) Most recently, in March 2024, New Mountain Capital acquired a stake in Grant Thornton, the 7th largest CPA firm by revenue, representing the largest CPA firm to receive PE investment to date. At R.L. Hulett, we've observed market dynamics that align with these trends. We are strategically positioned to capitalize on these developments, leveraging our extensive expertise in the professional services sector to guide clients through successful engagements. #InvestmentBanking #MergersAndAcquisitions #Accounting #CPA

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