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Managing a multigenerational accounting team begins with understanding

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1 year ago

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The accounting profession, like many others, is experiencing a demographic shift. Millennials and Gen Z are increasingly populating the workplace, bringing different expectations, work styles and technological proficiencies. 

By 2030, Gen Z alone will make up 30% of the labor force. Additionally, the AICPA has reported that 75% of today’s public accounting CPAs will retire in the next 15 years. That means there are going to be many jobs to fill and new generational ideas shaping the industry in a big way. 

Why should we prioritize having a multigenerational workforce? Beyond necessity, one compelling reason is teams with an age spread of more than 10 years are twice as successful in their decision-making. By embracing the collective wisdom of our employees, we will undoubtedly transform our work, experiences and the entire industry.

Managing this multigenerational workforce presents both challenges and opportunities for accounting firms, especially for owners and directors who grew up in an industry that had strong ideas about work expectations and “paying your dues.” 

As the head of HR at Platform Accounting Group, a collective of more than 40 local firms across the United States, I have seen firsthand how complicated these differences can be, but I’ve also seen how amazing it can be to have multiple generations seeking to understand each other and working to get things done. Successfully managing a multigenerational team requires a tailored approach that acknowledges these differences while leveraging the strengths of each generation, vs. trying to force-fit or assume one way works better.

Here are four main strategies I’ve seen work effectively for supporting a multigenerational team:

1. Make sure the work is engaging. A Gallup Report on employee engagement shows that companies with a highly engaged workforce have 21% higher profitability. They also have 17% higher productivity than companies with a disengaged workforce. How do you engage people in the work? Involve them in the client story as early as possible so they see the impact of their work and opportunities to be even more effective as they gain experience. Ensure they’re taking advantage of their strengths, interests and passions, and continually check in on what’s energizing them. If people are excited about their work, they have better results and contribute to a positive culture, and the workplace is a stronger place for everyone to be. 

2. Personalize development, work situations and career pathways. While accounting has some old-school ideas about work hours and “paying your dues,” the world has shifted. Remote work is much more common, and younger generations are looking for more flexibility, working in ways that work for them, and fewer one-size-fits-all opportunities. While older generations may be anchored on the way they did things, in order to attract and retain young talent, there needs to be an understanding that technology has made it possible for work to be done differently. Additionally, giving people the opportunity to personalize their career pathways and scale up and down during different seasons of life is the norm in most industries, and to compete, we have to be willing to do the same. Not everyone wants the same thing, and respecting these differences can be vital to creating a healthy, engaged workforce.

3. Foster healthy communication and empathy. One challenge we face is differing views on work-life balance and what type of hours are needed in our industry, which historically has been thought of as very high demand and long hours. I continually remind managers to remember how they felt starting out and that the younger generations are right — our lives should not only be our jobs. We clearly need to get our jobs done and serve our clients well, but working long hours just to work long hours is an outdated idea that doesn’t serve anyone. Additionally, I remind our younger workers that previous generations had to work hard to get here, and we need to respect all they’ve invested in the profession. With a better understanding of others’ needs, we can collaborate on reshaping how work gets done.

4. Lead with values and remind people their work matters. Younger workers want to ensure their values align with those of their employer, so it’s important to highlight what’s important to our company, how we make decisions, and how we shape our culture. It’s easy to be heads down with the amount of work we have on our plates but remembering the “why” behind all of this is critical.  Accounting and tax advisement is essential to keep the world running, and what we do adds enormous value to our clients, their lives and their businesses. As we remind ourselves of our common values and how important the “why” behind what we do is, it helps us work through our differences and recognize we’re all on the same team. 

As we navigate the changes within our workforce, I’ve tucked a couple of secret weapons into my toolkit that help reframe challenges into opportunities. I invite you to do the same and know that over time these become a new way of thinking about the part we play at work.

  • Always be curious. We don’t have to guess what different people and different generations want, and we shouldn’t make assumptions. Ask people what energizes them, what’s important to them, what their boundaries are and so forth. Being curious keeps us from being judgmental. Do something with what you learn.
  • Commit to supporting others. We need to be emotionally invested in each other’s success, so we should prioritize building relationships. Training and career development should be continuous. Even the most tenured, engaged and happy individuals need a little support now and then. 

Another difference between generations is how long employees tend to stay with an employer, and that timeframe has been on a downturn for quite a while. While the average tenure might adjust again, we are best served by embracing the time we do have with our employees and recognizing our duties to one another in order to make the most of it. The alternative is to be frustrated with the perceived reduction of loyalty, which means we are unlikely to invest in employees as much as we should (which makes them exit even faster).

While managing a multigenerational workforce requires effort and a willingness to be flexible, the benefits are significant. Diverse teams bring a wider range of perspectives, skills and experiences, leading to greater innovation, creativity and problem-solving. By embracing the strengths of each generation, accounting firms and departments can create a more dynamic, productive and successful work environment. This, in turn, will help attract and retain top talent, ensuring a better future for the accounting profession.

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Accounting

AI-Driven Automation and Continuous Accounting Frameworks

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4 days ago

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August 15, 2026

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The accounting profession is undergoing a fundamental structural transition as enterprise finance departments shift from periodic month-end closes toward automated continuous accounting models. By integrating specialized machine learning algorithms directly into enterprise resource planning (ERP) platforms, chief accounting officers are transforming financial reporting from a retrospective exercise into a real-time operational asset.

The Shift from Periodic Close to Continuous Financial Reporting
Traditional accounting workflows heavily relied on manual data reconciliation, spreadsheet calculations, and multi-week closing cycles at the end of each fiscal period. In contrast, continuous accounting frameworks utilize automated software agents to process, validate, and post transactional data in real time as business activities occur.

Automated bank reconciliation tools cross-reference incoming bank feeds, invoice records, and purchase orders automatically. By resolving transactional variances instantly throughout the month, corporate accounting teams eliminate the traditional workload spikes associated with quarterly and annual closes.

Machine Learning in Audit Trails and Anomaly Detection
Advanced natural language processing (NLP) and machine learning tools are redefining internal audit and financial control environments. Automated systems analyze 100% of general ledger entries, identifying anomalous transactions, duplicate payments, and unauthorized journal entries in real time.

Rather than relying on random statistical sampling, corporate internal auditors can focus their attention on high-risk flags automatically surfaced by algorithmic monitoring platforms. This continuous risk assessment strengthens internal controls over financial reporting (ICFR) and significantly reduces fraud risk.

Evolving Roles for Accounting Professionals
As routine data entry and manual reconciliation tasks become fully automated, the skill set required for accounting professionals is shifting toward data analysis, system design, and strategic business advisory.
– Systems Governance: Accountants are increasingly responsible for monitoring algorithmic accuracy and managing data integration pipelines.
– Business Partnership: Finance professionals leverage real-time financial dashboards to advise operational leaders on margin management and working capital allocation.
– Regulatory Compliance Management: Accounting teams utilize automated platforms to ensure compliance with dynamic tax codes and international accounting standards.

Core Implementation Recommendations
1. Deploy Automated Reconciliation Tools: Integrate continuous transaction processing modules into existing enterprise ERP architectures.
2. Establish Algorithmic Governance Controls: Implement strict internal testing protocols to ensure automated accounting rules comply with GAAP/IFRS standards.
3. Reskill Accounting Teams: Invest in training finance staff on data analytics, workflow automation, and predictive financial modeling.

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Accounting

Global ESG Reporting Standards and Double Materiality Compliance

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1 week ago

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August 9, 2026

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Corporate accounting departments face expanding reporting expectations as international sustainability disclosure standards achieve regulatory enforcement across major global jurisdictions. Chief Accounting Officers (CAOs) and corporate controllers are establishing rigorous internal accounting controls to treat Environmental, Social, and Governance (ESG) metrics with the same data precision, auditability, and governance as traditional financial statements.

Regulatory Harmonization Under Global Sustainability Frameworks
The implementation of standardized sustainability reporting frameworks—notably rules established by international sustainability accounting boards—has created unified expectations for public and large private enterprises. Corporations must report standardized metrics covering greenhouse gas emissions (Scope 1, 2, and material Scope 3), energy utilization, workforce demographics, and supply chain governance.

In Europe and other participating international jurisdictions, double materiality principles are mandatory. Under double materiality, organizations must report both how external sustainability risks impact corporate financial performance, and how internal corporate operations affect surrounding environmental and social structures.

Integrating Sustainability Metrics into Core ERP Systems
To provide auditable non-financial data, enterprise organizations are integrating specialized carbon accounting and ESG management platforms directly into core ERP systems. Automated data collectors capture energy utility invoices, logistics fuel consumption metrics, and vendor compliance records in real time.

Establishing automated, traceable data pipelines ensures that non-financial reporting is supported by clear audit trails. This structured approach allows external financial auditors to provide reasonable assurance on sustainability disclosures during annual corporate reporting cycles.

Financial Impacts and Capital Market Disclosure
Accurate ESG reporting directly influences corporate cost of capital and institutional credit ratings. Commercial lenders and institutional asset managers systematically incorporate sustainability metrics into risk pricing models. Companies that demonstrate transparent, verifiable progress in operational energy efficiency and climate risk mitigation benefit from expanded access to green bond markets and lower debt pricing.

Action Steps for Accounting Leadership
1. Implement Double Materiality Frameworks: Conduct comprehensive assessments to identify material financial and operational sustainability metrics.
2. Build Auditable Non-Financial Data Pipelines: Automate ESG data collection within core accounting software to ensure data integrity.
3. Align Sustainability with Annual Financial Filings: Prepare non-financial disclosures concurrently with financial statements to satisfy regulatory audit expectations.

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Accounting

Modernizing Internal Controls: Machine Learning and Continuous Monitoring in Auditing

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2 weeks ago

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August 5, 2026

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Internal audit departments and corporate risk managers are modernizing internal control frameworks by shifting from periodic sampling techniques to continuous monitoring and machine learning analytics. As operational data volumes increase across enterprise organizations, automated control testing ensures financial integrity, prevents corporate fraud, and streamlines annual audit engagements.

The Limitation of Periodic Audit Sampling
Historically, internal and external auditors evaluated internal controls by reviewing random samples of financial transactions—often analyzing less than five percent of total ledger entries. In complex enterprise environments, periodic sampling methods carry inherent risks of overlooking localized financial misstatements, unauthorized disbursements, or operational control breakdowns.

In 2026, progressive internal audit functions are utilizing automated continuous monitoring platforms that evaluate one hundred percent of financial transactions in real time. Continuous control auditing systems continuously monitor general ledger entries, procurement approvals, and expense reimbursements across all operating subsidiaries.

AI-Powered Fraud Detection and Anomaly Identification
Machine learning models trained on historical corporate financial data excel at identifying subtle transactional anomalies that indicate potential fraud or operational error. Automated systems instantly flag duplicate invoice payments, unapproved vendor creation, unusual journal entry timing, and unauthorized override of authority thresholds.

When an anomaly is detected, the automated auditing platform generates an instant risk alert, allowing internal audit teams to investigate root causes immediately. Early detection prevents minor operational errors from escalating into material weaknesses in financial reporting.

Streamlining External Audit Preparation
Continuous internal control monitoring delivers significant benefits during annual external financial audits. External audit firms can review continuous audit logs and automated control testing documentation, reducing the time required for manual field testing.

This integrated approach lowers overall audit compliance fees, reduces administrative burdens on corporate accounting staff, and provides senior management and audit committees with real-time visibility into the organization’s overall risk profile.

Core Implementation Guidelines
1. Transition to 100% Data Testing: Replace legacy sampling methods with automated continuous audit monitoring systems.
2. Deploy Anomaly Detection Algorithms: Implement machine learning models to identify unauthorized transactions and operational control overrides.
3. Align Internal and External Audit Workflows: Coordinate continuous control testing protocols with external auditors to optimize annual compliance cycles.

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