By Tonya Holowitski CCDP, CPA Alberta Career and Diversity Advisor
What career trends await CPAs in 2024? Artificial Intelligence (AI), cybersecurity, sustainability, shifting reporting standards, career capital (knowing who, how, and what), career intelligence, and workplace accountability, to name a few. While these themes may be familiar, their content will evolve, related business buzzwords will of course change, and a breadth of non-technical skills will be required. Those who haven’t been keeping abreast of changes may find themselves having to play catch up.
Artificial Intelligence
At the beginning of 2023, ChatGPT and OpenAI were released to the general population. Although many public practice firms had previously started to use AI and automation tools, there was a dramatic uptake in AI tools used by employees and employers in the short space of one year. Companies recognize the significant time-saving potential of AI tools, contributing to the results of a September 2023 study released by Deloitte setting Canada as the third leading user of AI in the G7.
What does this mean for Alberta CPAs? It’s time to pursue professional development in this space; luckily, these types of opportunities are available from multiple providers. It’s equally crucial to research appropriate tools for ethical AI use and effective security risk management. AI and automation should be treated similarly to the monumental shift from paper-based systems and green screens to adopting paperless approaches with standard Microsoft or Google tools in the late 1990s and early 2000s.
Cybersecurity
Statistics highlight Canada as a prime target of cybersecurity attacks. Consequently, there is an increased need to invest in cybersecurity awareness, especially with AI now enhancing the effectiveness of these attacks. Fostering best practices in the workplace necessitates behavioural changes at work and at home; it is therefore critical that employees understand their role in data and systems protection. Failure to adopt current best practices could jeopardize the reputation of an organization and that of individuals associated with any security breach.
Sustainability and increased reporting requirements
Increased reporting requirements create opportunities for those able to quickly learn and implement standards changes, positioning them as subject matter experts. This could open doors for some into the gig economy through consulting, while others could gain recognition as indispensable team members. Sustainability is no longer a word to be sung only by multinational and publicly traded companies; indeed, all organizations should incorporate sustainability plans. These reporting standard changes enforce accountability across organizations, ensuring that plans are not only implemented but monitored as well. Even those not required to implement the standards should consider what they need to do to avoid high disaster recovery fees or business closures. Repeated ransomware attacks, financial fraud from cybersecurity breaches, fires, floods, and complex economic disturbances demonstrate the need for investment in sustainability training and awareness.
Interpersonal skills
Interpersonal skills will carry greater significance than ever before. The topic of Diversity, Equity, and Inclusion will become a part of Social (SQ) and Emotional Intelligence (EQ). The need for CPAs to invest in their SQ and EQ will be heavily tied to workplace accountability. As younger generations exert increasing influence by holding companies accountable through their spending power and online reviews and campaigns, it is foreseeable that all employees will be held responsible for the workplace environment. Collaboration with colleagues and clients is no longer limited to like-minded people. The ability to work effectively with diverse values, behaviours, and beliefs without compromising professional standards means that those who are early in their careers are as responsible as middle management and executive leadership in navigating their responses and contributions to build successful and healthy team environments and relationships.
Social skills are critical, both in the virtual space, such as through social media, and engaging in person. A strong social network of peers and mentors is crucial for career progression.
If you are interested in reading further on career trends, Canada’s leader in career development research, CERIC, has compiled several articles that explore upcoming trends and projections.
CPA Alberta will continue to offer cost-effective and free workshops and webinars in 2024 including a webinar on Navigating Sustainability Standards with Kristen Tollovesen and Kent Kaufield on Wednesday, January 31. This is the second webinar in the three-part series sponsored by Recruitment Partners.
In the first quarter of 2024, we will host ten webinars, two half-day workshops and one virtual rapid resume review. Our workshops will have limited seating and include breakfast. Register for upcoming events on the PD Portal or the CPA Alberta Career Centre. Over the next couple of weeks, you can expect regular updates on new events. We will have a host of new content in the webinars you may have attended before, and you can expect multiple updated resources to reflect the upcoming trends and changes of 2024.
Book an advisory meeting with one of our Career and Diversity Advisors or send an email to careerservices@cpaalberta.ca for more information.
