with the growing focus on advisory services, non-accountants are helping accounting firms offer their clients a broader range of expertise.
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accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation
non-accountants are playing a pivotal role in the evolution of the accounting industry, bringing specialized expertise and fresh perspectives that are transforming traditional accounting firms into comprehensive business services providers.
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the accounting profession has long been associated with meticulous number-crunching and financial analysis. however, in a recent episode of accounting arc, the hosts reveal a different narrative—one where non-accountants are integral to the industry’s future. donny shimamoto, cpa.citp, cgma, along with fellow professionals byron patrick, cpa.citp, cgma; and liz mason, cpa, delve into this topic, exploring how non-accountants are reshaping the accounting landscape.
“a lot of people don’t realize that there’s quite a bit of non-accountants involved in accounting, even at accounting firms,” says shimamoto, founder and managing director of intraprisetechknowlogies llc and founder of the center for accounting transformation. “accounting firms are no longer just accountants.”
the conversation highlights the unique contributions that non-accountants bring to the table. patrick, vice president of client success at the b3 method institute, notes that non-accountants often develop a deep appreciation for the accounting profession once they start working within it. “there becomes this… almost like the window opens, and they realize the kind of complexity and the nuance of what’s going on within the profession,” he says. “the respect for it really, really goes up.”
this newfound respect often translates into a strong advocacy for the profession. non-accountants, once integrated into accounting firms, frequently become passionate supporters, helping to drive the industry forward with their specialized knowledge and enthusiasm.
mason, ceo and founder of high rock accounting, provides historical context, explaining that many of today’s major consulting firms either originated from or maintain strong ties to the accounting profession. this connection has enabled accounting firms to expand their services beyond traditional financial tasks, incorporating expertise from fields like it, hr, and management consulting.
“accounting systems were one of the first places where real independent innovation happened with computers for businesses,” mason explains. “accounting was really the first profession in the business world to get those systems, and we’ve maintained that level of use of systems.”
shimamoto predicts that this trend will continue, with accounting firms evolving into full-fledged business services providers. “we’re doing more than just the accounting,” he says. “we already see a lot of that in the it area…i see firms starting hr consulting practices, marketing consulting practices, and of course, management consulting.”
while the integration of non-accountants brings numerous benefits, it also presents challenges—particularly in maintaining the high standards of integrity and trust that define the accounting profession. as firms expand into new areas, ensuring that these values are upheld is crucial.
“i think it’s a delicate balance,” patrick remarks. “there’s plenty of examples where people just unintentionally extend that [trust], maybe in a detrimental way.”
shimamoto echoes this concern, particularly in light of the growing focus on advisory services and the potential for conflicts of interest. “i’m worried…we’re going to see some of these scandals start to appear where there’s lack of independence,” he says.
despite these challenges, the involvement of non-accountants in the accounting industry represents a significant and positive shift. by embracing the diverse expertise of professionals from various fields, accounting firms are better equipped to meet the complex needs of their clients and drive the profession forward.
top 8 takeaways
- non-accountants play a vital role in transforming traditional accounting firms into comprehensive business services providers.
- many non-accountants develop a deep appreciation for the accounting profession, often becoming strong advocates.
- accounting firms are increasingly incorporating expertise from fields like it, hr, and management consulting.
- the evolution of accounting firms into business services providers is a growing trend.
- the integration of non-accountants into accounting firms enhances their ability to provide holistic business solutions.
- non-accountants can bring unique insights and expertise to accounting firms, enhancing their ability to serve clients.
- maintaining integrity and trust is crucial as accounting firms expand into new areas.
- the collaboration between accountants and non-accountants is key to the future success of the industry.