Accounting
Why CPAs must master the soft skills
It’s not easy being a great accountant. Today’s finance leaders are measured by their ability to motivate teams, deliver results, and shape their business environment and culture. “Heads down, pencils moving” no longer flies. They must master a wide range of soft skills (aka “power skills”) to build a successful career. At the core of every thriving business is an outstanding finance leader with the ability to connect, inspire and act with resilience. Good leaders provide energy and communicate hope.
When a CPA transitions from individual contributor to leader of many people, his or her technical skills alone will not be enough to drive results. Their soft skills need to be perfected. In fact, a report by the
That’s part of what motivated me to write my new novel,
I highlight four wide soft skills that, if mastered like McCord, will help you improve the consistency of your results:
1. Communication – You should be able to boil down complex financial topics into simple messages that non-finance experts can understand — without talking down to co-workers. Recognize the impact that your emotionally intelligent communication skills have on your audience.
2. Presentation – Accountants often present to the board of directors, investors, analysts, fellow employees and, when appropriate, the media. They can’t be introverted or camera-shy. Modifying your passionate behaviors will expand your sphere of credibility and influence.
3. Decision-making – In many meetings, everyone is waiting for the CPA to decide what to do next. The ability to assimilate information quickly, weigh the options, and take responsibility are all key. Bring it all together by synthesizing complex issues and challenges. Turn them into opportunities.
4. Leadership – A command-and-control leadership approach may have worked in the past, but in nearly all corporate cultures today, workers require inspiration and a more collaborative approach. Leverage your team’s technical, social, and emotional intelligence to produce results.
For example, in Green Shade$, when McCord learned that his client was selling the company, he quickly took responsibility and synthesized a solution for a critical XBRL due diligence issue. He had the decision-making skills to appreciate that finance was less about reporting from the rear-view mirror perspective and more about bringing strategic insight into complex challenges. CPAs need to take it upon themselves to embark on their own learning journey. Many corporations employ chief learning officers that implement comprehensive soft skills education programs. Likewise, my employer,
Accountants will always be on the front lines, leading the tactical transformation of their company’s operations as controllers, chief financial officers, heads of internal audit, even “chief future officers” who develop a playbook for navigating the dangerous waters of business. Today, more than ever, the span of responsibilities for CPAs continues to increase in a flatter, global, more matrixed business environment.
In addition to building soft skills, we all need to do a better job of marketing the CPA “cool” factor not just to students, but to the public at large. With the number of people sitting for the CPA exam down more than 40% since 2000, it’s imperative that this trend is reversed. If not, the talent shortage will increase reporting mistakes, reduce productivity, damage work-life balance and potentially drive small CPA firms out of business. The AICPA, local accounting societies, educational institutions and large public accounting firms need to lead the rebranding effort. There is no time to be non-committal and unimaginative. Let’s continue to highlight that being a finance maven offers adventures and financial stability, and more important, accountants make a difference in people’s lives.
I am hopeful Green Shade$ becomes a must-read for everybody working in the accounting world and those interested in joining it. Readers will see how impactful soft skills are for accountants and auditors. It’s critical that we showcase the gifts of being a CPA — a solid business acumen, a global perspective and a sense of adventure. In particular, accountants must deploy the skills of being a good communicator, listener and long-term thinker while at the same time interacting with our customers (internal and external) and becoming true trusted professionals.
Citrin Cooperman announced today it will receive a significant investment from Blackstone, the world’s largest private equity firm, which will acquire a majority stake in the firm from New Mountain Capital.
The deal is the first instance of an accounting firm to transfer private equity ownership from one group to another in the U.S. Terms of the transaction were not disclosed.
“We are excited to have reached an agreement for Blackstone to invest in Citrin Cooperman as we enter our next chapter of growth,” Citrin Cooperman CEO Alan Badey said in a statement Tuesday. “Blackstone will help us make additional investments in expanded service offerings and technology as we deliver on our continued commitment to best-in-class firm culture and providing an exceptional client experience. We thank New Mountain for their years of partnership in helping to build and support our business.”
Allan Koltin, CEO of Koltin Consulting Group, who advised on the deal, commented: “For many in the profession, the biggest question was whether something like this could ever happen, and my belief is there will now be many other transactions like this in the future. Kudos to Citrin Cooperman, New Mountain Capital and Blackstone on making history today.”
New Mountain first
“We are proud of our successful partnership with Citrin Cooperman, and we thank the management team, partners and staff of Citrin Cooperman for all we have accomplished together over the last three years,” Andre Moura and Nikhil Devulapalli, managing directors at New Mountain, said in a statement. “We look forward to seeing Citrin Cooperman continue to thrive for the benefit of all its clients and stakeholders.”
“The Citrin Cooperman partners and staff have done an exceptional job making the firm a leader through an unwavering commitment to excellence and client service,” Eli Nagler, a senior managing director at Blackstone, and Kelly Wannop, a managing director at Blackstone, said in a statement. “We are excited to invest in the business to help it continue to provide the highest quality offerings moving forward.”
Deutsche Bank Securities is serving as financial advisor, and Kirkland & Ellis and Gibson, Dunn & Crutcher are serving as legal advisors to Blackstone. Guggenheim Securities is serving as lead financial advisor to New Mountain and Citrin Cooperman. Koltin Consulting Group is serving as an additional financial adviser to both parties. Simpson Thacher & Bartlett, Zukerman Gore Brandeis & Crossman and Hunton Andrews Kurth are serving as legal advisers to New Mountain and Citrin Cooperman.
“Accounting is the best place to start because it’s the purest form of finance,” wrote Robert Kiyosaki, author of the Rich Man Poor Dad series of personal finance books. “You can’t fool it; it’s empirical.”
This insight resonates deeply in today’s business environment, where organizations must navigate macroeconomic uncertainties, technological disruptions and transformational opportunities. Amid these buffeting currents, finance and accounting have evolved from a number-crunching function to a strategic and consultative one, playing three critical roles — safeguarding assets, streamlining operations and influencing future growth. As we move into 2025, five key trends will define the F&A landscape and its ability to drive strategic value.
Johnson, who has been in her position for six-and-a-half years, said on
“The past 6.5 years have been nothing short of transformative. I am deeply grateful to have been part of such a visionary organization that consistently pushes the boundaries of innovation in the accounting & finance profession,” she said in her post.
In an email she said that the timing was right for her to pursue other interests she is passionate about. However, while she is stepping away from her position, she plans to stay involved and collaborate with the AICPA and CPA.com on strategic initiatives. When asked about specifics in an email, Johnson said she will still be very involved in the AICPA/CPA.com Startup Accelerator program (which she said was the most rewarding part of working at CPA.com) and serve as an overall strategic advisor to the organization working on key initiatives like the AI Symposium and Digital CPA.
In her goodbye message on LinkedIn, she thanked the AICPA leadership for helping her grow as a professional, and gave particular thanks to her research team, saying they are the true embodiment of change makers.
Regarding her immediate plans, Johnson told Accounting Today she plans to take a few months to reset and invest in some personal development interests. She added that she also completed her NACD Corporate Director certification and has been accepted to the Harvard Business School’s Executive Program on Private Equity and Venture Capitalism for the first quarter of 2025.
When asked about what her proudest achievement was during her tenure, she pointed to the AICPA Town Hall.
“I’m most proud of being part of the team that developed and produced the AICPA Town Hall. It’s inception was at the beginning of COVID; so many practitioners needed guidance on how to support clients and navigate all of the uncertainty. To see what the Series has grown into is nothing short of incredible,” she told Accounting Today.
Johnson joined CPA.com in 2018 as a strategic advisor before, in 2021, becoming senior director of strategy and innovation and then, in 2022, vice president of strategy and innovation. Prior to her joining CPA.com, she was the founder of accounting-focused tech consultancy firm Blue Ocean.
Accounting Today named Johnson a “
Among other accomplishments, she was a major force behind CPA.com’s
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