MBiz | Winter 2022

CHARTERED PROFESSIONAL ACCOUNTANTS OF MANITOBA

CONSIDER AN EXCITING, REWARDING CAREER AS A CPA

BY TODD LEWYS

Since time immemorial — or so it seems — people have perceived the accounting profession as being a rather dull and boring one. In their mind’s eye, they visualized an accountant sitting in a dimly lit office in a distant, isolated part of a company’s headquarters, robotically attending to balance sheets and other mundane financial duties. In actuality, nothing could be further from the truth; Chartered Professional Accountants (CPAs) have always played a central role in helping businesses run smoothly and optimizing profitability. That said, the last few years (i.e., during the COVID-19 pandemic) have seen the role of a CPA become more exciting and dynamic than it’s ever been, says Geeta Tucker, FCPA, FCMA, president and CEO of Chartered Professional Accountants of Manitoba. “The profession is definitely moving away from that perception of drudgery, and technology has been the enabler in showcasing the profession in a different light,” she says. Nick Lane, senior manager for BDO Canada’s strategy and operations consulting arm in Atlantic Canada, says a recent labour market study on the profession in western Canada (Manitoba, Saskatchewan, Alberta) has shown this to be true. “In and of itself, the pandemic didn’t create changes; it exacerbated them,” he notes. “While technology was in play before, it definitely changed the nature of work for CPAs.” With in-person meetings a no-go, the development of virtual meeting technology — notably Zoom and Microsoft Teams — went into overdrive. Suffice it to say the technology proved to be very effective —

and groundbreaking. “It not only created a more flexible work environment that promoted better work-life balance but also made it easier to do ESG (environmental, social, governance) reporting,” says Lane. “The technology was accelerating before the pandemic but came into its own during it.” Tucker says that technology has taken the skill set of CPAs to an entirely new level. “Using data to really guide the decision-making of organizations makes CPAs true partners in business, helping drive economic success.” Meanwhile, something else was happening as technology became a more useful tool for CPAs during the pandemic: an increasing number of job vacancies. Consequently, CPAs are now in high demand in Manitoba and other western provinces. “The pandemic also accelerated the decision of many CPAs to retire,” Lane says. “Our study dug down to see where the openings were going to be and what each province’s unique needs were going to be. It showed that there were opportunities from entry level all the way up to senior level roles. About one-third of new CPAs in Manitoba will be replacing people who retired.” At the same time, demand for CPAs has also been driven by economic growth and population growth. In short, the field has a bright future. That said, there is presently a shortage of CPAs to fill all the vacancies. “There’s been an uptick in enrolment in recent years, which is good news,” he says. “But we’re still forecasting for a significant number of

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WINTER 2022

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