Helping young professionals build a foundation for success.

• Author: Hollander, Amy V.

The tax profession is highly demanding. Tax law and professional standards continue to evolve while technology moves ever onward. Given the steady march of change, one might wonder what the role of the tax professional will look like in the future. Because a strong foundation is necessary for an individual's future growth, this column discusses some professional development strategies CPAs should consider in their quest for success. Accounting firms can help or, inadvertently, hinder this process. Providing support to newer staff is critical to helping ensure the continuing success of the profession.

Start with an educational foundation

The academic curriculum in accounting and taxation at the undergraduate or the graduate level is the starting point in providing a solid technical foundation. But with the rapid pace of change, continuous learning (and unlearning and relearning) is a given. Building technical knowledge and staying up to date on changes and opportunities arising from new tax legislation is a high priority.

There are many ways for this type of continuous learning to happen--conferences, in-house firm education, webcasts, podcasts, articles, etc. For accounting firms, one idea might be to compile some of these options for new staff as part of their onboarding training. They may not be aware of the various learning opportunities available. Or they may be able to give you new ideas of ways to learn about technical content. You can learn from each other.

Clearly other skills are necessary to become a well-rounded trusted adviser to clients--for example, clear and effective communication skills, emotional intelligence, technological savvy, and many others. Some of those skills will be naturally honed with time and experience. Consider, though, that these "soft skills" can also be improved with learning, reading, and practice. It is important for CPAs to embrace the opportunities where they are afforded, both inside and outside their work environment, to improve upon these skills.

Fast-moving business culture

The professional environment is ever-changing, even more so this year with the COVID-19 pandemic and its economic fallout. A topic that is trending on any given day is often an afterthought the next. Tax professionals must be agile. Agility is a learned trait. A recent college graduate may not understand how to be agile in business circumstances. Seasoned professionals sometimes have an even more difficult time adapting to the...