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Speakers urge emphasis on wellness for both clients and staff at Xerocon

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The accounting profession must address the persistent image problem that, increasingly, is making young people hesitant to enter it in the first place, according to Ben Richmond, managing director for North America for small business accounting platform Xero. 

Speaking during the company’s annual Xerocon event this week in Nashville, Richmond noted that accountants don’t really deserve the image that much of the public carries about them, but acknowledged the unfortunate strength of this perception nonetheless.  

“We need to address this perception challenge that we’re monotone, that we’re dull, that we’re going to be automated out of existence, because that perception is wrong. You don’t deserve it. The trust our small business clients offer us, the jobs we do, means we don’t deserve it. I am proud of my profession,” said Richmond. 

He felt the general public was not aware of all the changes the profession has undergone in the last few years, notably its increasingly tech-driven nature as well as the decline of mundane compliance-based tasks in firms in favor of higher value advisory engagements. While he, himself, is “excited about what the profession has become and where it is going,” many others are not because they’re not aware of either. 

“Put yourself in the shoes of a high school student who doesn’t know what it looks like inside this crazy room [at the conference] as they think about what they are inspired to study. Are they really thinking accounting sounds exciting?” he said. 

Meeting this challenge means embracing the modern accounting practice and all the ways the profession has evolved over the years. A key part of this is truly defining one’s value as an advisor, capitalizing on the trust clients give to their accountants, something that had been difficult before as professionals were often burdened with “the compliance workload or the never-ending tax season.” 

With technology automating many routine tasks today, much more focus can be spent on what he said was the real reason why people hire accountants: peace of mind and wellbeing for clients. He talked about helping his sister find an advisor for her business. They talked to two others before settling on a third, not because of their technical acumen but because they were the ones who truly took time to understand not just her business but herself as a person, including both her aspirations and anxieties. By creating this connection, he said, she let herself be vulnerable, which allowed the advisor to see not just the numbers but the reasoning behind it. More practitioners would benefit from such an approach, he said. 

“Too many firms tell me still they’re just number crunchers. But you are a key lever to supporting your client’s wellbeing. You probably don’t wake up and think I’m the supporter of mental health for my small business clients, but think about the impact when you help them understand where they’re going. When clients know they’re talking to someone who relates, who speaks their language, that will make it easier to work with them and make them open and trusting about their fears and their concerns,” he said. 

He said emotional intelligence is highly underrated in the profession, but it’s vital if one wants to run a successful firm. There is no amount of technology, he said, that can replace it. Instead, let emotional intelligence be your differentiator, your competitive advantage in order to deepen client relationships. 

Demonstrating this kind of commitment is especially important in light of the profession’s persistent talent shortage. Speaking at another panel later in the day, Jeff Phillips, co-founder of recruiting company AccountingFly, noted that the unemployment rate for accountants and auditors in the US is just 1.8%, much lower than the 4.3% national rate

“So, what does this tell us? Everyone who wants a job has a job. There isn’t a pocket of people where you can just post a job and find them. So what can you do? You have to compete for talent and you have to go out there,” he said. 

Beyond higher pay and more support for remote work, however, Phillips noted that there is also the matter of addressing the profession’s culture. While the idea that accounting is monotonous repetitive work with no higher purpose is largely a matter of perception, it is all too true that many firms promote a punishing work schedule with little work life balance or mental health support, at least in North America. 

“We work in a profession of very hard workers who are spending so much time at work, and there isn’t much time for physical or mental health and taking care of themselves. I have a friend who owned a firm who, last year, he did not want to tell his clients he was taking vacation because he was worried about how they would feel about him being off. I thought, you’re probably not going to be really on vacation, you’ll hate your vacation with that attitude. That is a problem that needs to be addressed,” he said. 

Shayne Dueck, national leader of accounting and bookkeeping services with Canadian firm MNP raised a similar point, noting that while much is said about work life balance today, it is undermined by a certain pride leaders have in working such a schedule, an attitude which then trickles down to the staff. 

“The badge of honor is how many hours did I work and how much can I pack into a week or a season. That needs to be outright questioned. … Sometimes it’s about calling it out. I don’t want that job. Who wants that job? We have people leaving the profession because they are overworked and burnt out. We have people not wanting to go into the profession because that’s what they hear,” he said, urging accountants to not be afraid to call out this attitude and provide a better example. “You can model that you can be successful, you can have balance, you can have mental health.” 

Kayur Patel, a PwC tax partner and another panelist, said it is largely about taking the same advice they give to their clients all the time. 

“For anyone who has had clients like a family business, you’ve probably been in a situation where you advise the client they’re doing alright and they can take the foot off the gas and spend more time with family. But as an industry we don’t do that ourselves. I think we should take some of our own advice in how we run our own practice because sometimes we know what the right answer is for our clients, but we’re not doing it ourselves,” he said. 

One example to look towards might be accountants in Australia. Heather Smith, the head of Australian firm Anise Consulting, noted that the work culture is quite different not just in accounting firms but the entire country. Saying Australians are “lifestyle first people” she pointed out that workers in general get four to five weeks holiday every year, plus 10-13 public holidays annually, and a standard 37.5 hour work week. On top of that, Australia allows up to 10% of an accountant’s continuing professional education be about mental health awareness, giving credibility to the topic. 

“Australians aren’t perfect, but we are having the conversation, we are actively in communities looking out for each other,” she said. 

When she critiqued a UK accounting body she was a member of for only talking the talk about mental health, she noted that they proceeded to roll out an educational platform on the topic as well as put on more events and activities to support the profession; she noted that mental health and wellness doesn’t have to be just rest and relaxation but also nutrition and spirituality and social connectivity that lets people feel stimulated. 

Emma Reid, a partner in the UK’s Cotton Group, raised a similar point, noting that it’s okay to take an expansive view on wellness. What is important is not to make some perfunctory measure and call it a day but, rather, find what actually works for people. She noted that, at her own firm, there was little response to things like mental health apps or gym memberships. While certain firms might be tempted to call it a day regardless, her own firm continued experimenting to find something people would actually respond to, which ultimately was fun activities they can take part in. 

“It’s finding those things that actually make a difference versus offering something just because it looks good,” she said. 

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Accounting

Trump berates Republicans to ‘Stop talking,’ pass tax cuts

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Donald Trump listens to a question while speaking to members of the media before boarding Marine One on the South Lawn of the White House in Washington, D.C.
Donald Trump

Al Drago/Bloomberg

President Donald Trump called on members of his party to unite behind his economic agenda in Congress, putting pressure on factions of lawmakers who are calling for last-minute changes to the legislation to drop their demands.

“We don’t need ‘GRANDSTANDERS’ in the Republican Party,” Trump said in a social media post on Friday. “STOP TALKING, AND GET IT DONE! It is time to fix the MESS that Biden and the Democrats gave us. Thank you for your attention to this matter!”

Trump sent the post from Air Force One after departing the Middle East as the House Budget Committee was meeting to approve the legislation, one of the final steps before the bill can move to the House floor for a vote.

House Speaker Mike Johnson has set a goal to pass the bill next week before the House recesses for its Memorial Day break.

However, the the bill failed the initial committee vote — typically a routine, procedural step — with members of the party still sparring over the scope of the cuts to Medicaid benefits and how much to raise the limit on the state and local tax deduction.

Narrow majorities in the House mean that a small group of Republicans can block the bill. Factions pushing for steeper Medicaid cuts and for an increase to the SALT write-off have both threatened to defeat the bill unless their demands are met.

“No one group gets to decide all this stuff in either direction,” Representative Chip Roy, an ultraconservative Texas Republican advocating for bigger spending cuts, said in a brief interview on Friday. “There are key issues that we think have this budget falling short.”

Trump’s social media muscle and calls to lawmakers have previously been crucial to advancing his priorities and come as competing constituencies have threatened to tank the measure.

But shortly after Trump’s Friday post, Roy and fellow hardliner Ralph Norman of South Carolina appeared unmoved — at least for the moment. Both men urged continued negotiations and significant changes to the bill that could in turn jeopardize support among moderates.

“I’m a hard no until we get this ironed out,” Norman said. “I think we can. We’ve made progress but it just takes time”

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Accounting

97% say CPA firms not using tech efficiently says survey

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While CPA firms far and wide have made major technology investments over the years, the vast majority of accountants say they’re not being used to their full potential. 

This finding comes from a recent survey undertaken by CPA.com and payment solutions provider Bill. The 400-person poll found that nearly all respondents, 97%, say they use technology inefficiently and that additional training is needed to maximize return on investment. Further illustrating the point, 43% of respondents said that technology is making them do more manual work, not less, something. Becky Munson, an Eisner Amper partner specializing in outsourced accounting services, believes this reflects a failure of training and change management, as she has seen many who disliked a technology change develop manual workarounds specifically to avoid using the new solutions. 

“We see employees make workarounds with tech stacks, which makes headaches that I think align with this 43%. We train people on new things, we ask them to use them, and they keep doing what they were doing before and only use the technology as much as they have to [in order to] move things along while you have people well trained on the software keeping up,” she said in a webcast on Thursday about the survey. 

Inefficient

Ariege Misherghi—senior vice president and general manager of accounts payable, accounts receivable and the accountant channel—said the issue isn’t just because of firms but also vendors that don’t provide enough support, and may not necessarily understand the profession in the first place. 

“Too often I think tools aren’t fully aligned with the workflows they’re meant to support. In SaaS they talk about product-market fit, but in this profession it’s not just that but also product-firm fit, and maybe product-profession fit. Not every tool marketed to accountants was built by people who truly understand how this profession works: the rhythms, the regulations, the stakes, the relationships, all of that. And even the greatest tools can fall short if they’re not implemented with a deep understanding of how firms really operate,” she said. 

And sometimes the inefficiencies come from both sides at once: the survey found that only 37% of firms require clients to use their tech stack, something that Munson said “breaks my heart” as “it is so low.” A streamlined, established tech stack is needed to achieve true economies of scale, but to get there firms need to standardize their data, and to do that firms need to make sure their clients’ data is also standardized, which usually means integrated tech stacks. 

“If you have all these different clients with all these different technologies, even if your own tech stack is standardized the systems they use is different, so the kind of data you will get will be different, and the work you need to do to make it work with your data is different, and your team spends a lot of time spinning their wheels,” she said. “Once you get standardized, where everything back and forth from clients is the same, you get to see how well the teams can do their work.” 

One source of inefficiencies is a rushed implementation. Munson said that, too many times, firms are so eager to get a solution working that they don’t pay attention to all its capacities, just the ones they need right now, but once the basics are down firms still don’t circle back on the rest of the features and how they can be used to drive efficiency. 

“Most of us have been through an implementation, either in the practice or with a client, where you’re just like ‘anything to get it working. Forget about all the fancy things it does. We just needed to do the basics right,’ and then we never circle back on those better, more efficient processes. We get to sort of minimal viable, and then we forget to come back and give it an extra polish. And so what we see there is the processes get written for that basic piece, and we never update,” she said. 

But this is part of what both speakers believed was the larger problem of firms getting lost in the details of their tech stacks and not taking a broader, more holistic approach, which would enable more efficiencies. The key component to managing technology effectively, Munson said, is looking not at individual solutions here and there but thinking of the system as a whole. 

“Often, what happens is something’s wrong or something is troublesome in some way. And so [we say] what can we do to fix that one thing? And we don’t think about it holistically and get all the right folks in there so that we’re solving for the right pain points,” she said. 

Misherghi agreed, and added that this holistic extends not only to the technology a firm already has but the solutions they plan to purchase in the future. When evaluating what technology they need, she said leaders need to think not in terms of specific point solutions to particular problems but things that can support the entire workflow—plus, the onboarding, training and ongoing support from the vendor. 

“Don’t just look for features, right? Look for solutions that support your workflows from providers that understand you. For firms, onboarding and training and optimization can’t be an afterthought. They’re essential to realizing value. I think this is where vendor partnerships matter. Firms seeking the strongest results aren’t just using software, they’re collaborating with their providers, they’re staying educated, they’re making sure their tools evolve alongside their needs. The best outcomes happen when your technology partner acts like part of your team, not just part of your toolkit,” she said. 

Misherghi said that the more successful firms she’s seen think less in terms of performing particular tasks but designing an entire system that, through automation, can do those tasks for them. It is less about plugging holes and more about developing a full infrastructure. The survey found that 74% of participants have a detailed plan to add new services in the next 12 month; Misherghi noted that, among these firms, 86% have a detailed technology roadmap, which is “a wonderful mark on the evolution of the profession we’re seeing.” 

She said a good tech roadmap is more like a service design blueprint versus a shopping list. Successful firms, she said, are not just chasing features but designing intentional workflows and systems capable of scalable service delivery. Similarly, she stressed that the provider should be more than just a vendor but a strategic co-architect that can help with growing pains. 

Misherghi said this approach will become especially relevant as AI becomes more common, as integrations will be key to their effective use, which means thinking in terms of the whole system to understand where those integrations should take place. Right now, she said, people think of AI in terms of analyzing data or extracting fields, but with the rise of AI agents will require firms to focus more on coordinating between them. 

“I think the next big leap is when those systems don’t just talk to each other, they act on each other’s behalf. I think the next big inflection point will be moving from automated steps to autonomous workflows, where AI agents aren’t just analyzing data or extracting fields but actually orchestrating tasks across tools based on firm policies and context and that will change the role of the accounting profession: its less time doing the work and more time designing the system for how everything works together. So the firms that will be thriving are those who are building strong infrastructure now because that is what AI needs to deliver on its core value,” she said.

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Trump tax bill fails in House panel

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A key House committee on Friday failed to advance House Republicans’ massive tax-and-spending bill after hard-line conservatives bucked President Donald Trump and blocked the bill over cost concerns.

The House Budget Committee rejected the bill 21-16, with Republican Reps. Chip Roy, Ralph Norman, Josh Brecheen, and Andrew Clyde joining Democrats to vote against it. The four hardliners demanded deeper cuts to Medicaid and other government programs.

It’s incredibly rare for bills to fail at this step in the process, with the committee vote typically serving as a rubber-stamp to the bill before it moves to the House floor. 

Representative Chip Roy
Rep. Chip Roy

Stefani Reynolds/Photographer: Stefani Reynolds/B

The setback could be temporary and the panel can still approve the bill once the GOP differences are resolved. 

Republican Lloyd Smucker, who switched his vote to “no” to allow the committee to bring it up again, told reporters the committee will hold another vote on Monday. 

Trump, whose social media muscle and calls to lawmakers have previously been crucial to advancing his priorities, inserted himself in the debate less than two hours before the vote, berating dissidents and urging them to fall into line. 

“We don’t need ‘GRANDSTANDERS’ in the Republican Party,” Trump said in a social media post on Friday. “STOP TALKING, AND GET IT DONE! It is time to fix the MESS that Biden and the Democrats gave us. Thank you for your attention to this matter!”

The bill’s failure exposes the power a small group of lawmakers can wield as Republicans seek to push Trump’s “one big, beautiful bill” through the House with very narrow margins. GOP infighting threatens to kill the bill, or at least significantly delay Republicans’ plans to pass the bill next week.

(Read more:‘One big beautiful bill’ full of tax surprises.”)

Republican holdouts spelled out their demands during Friday’s committee meeting, including accelerating new work requirements for able-bodied adults on Medicaid to take effect immediately rather the 2029 deadline set in the legislation. The ultraconservatives also want a faster phase-out of clean energy tax credits.

It wasn’t immediately clear how House Republicans will re-group to address the divisions and advance the bill.

“I’ll let you know this weekend if we’re going to return first thing Monday. That’s the goal at this point,” Budget Chairman Jodey Arrington said after the vote. 

House Majority Leader Steve Scalise, who is helping to broker a deal among Republicans, said party leaders are in touch with the Trump administration to address some of the changes demanded by hardliners.

“We are all in agreement on the reforms we want to make,” Scalise said. “We want to have work requirements. We want to phase out a lot of these green subsidies. How quickly can you get it done?”

House Speaker Mike Johnson on Thursday pledged he would work through the weekend to broker a compromise between moderates, who are seeking an increase in state and local tax deductions, and ultra-conservatives, who say they won’t support it without more spending cuts.

(Read more:Here are the winners and losers in the Republican tax bill.“)

Members from both factions — the SALT Republicans representing high-tax districts and the fiscal hawks who want steeper budget reductions — have threatened to block the bill if House leaders don’t acquiesce to their demands. 

“No one group gets to decide all this stuff in either direction,” Roy, an ultraconservative Texas Republican advocating for bigger spending cuts, said in a brief interview on Friday. “There are key issues that we think have this budget falling short.”

Both Roy and Norman urged continued negotiations and significant changes to the bill that could in turn jeopardize support among moderates.

“I’m a hard no until we get this ironed out,” Norman said. “I think we can. We’ve made progress but it just takes time.”

If the legislation passes the House, it would then head to the Senate where it would likely undergo significant changes. Several members, including Senator Josh Hawley of Missouri, have stated opposition to the Medicaid cuts in the House bill.

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