Revisit: The Great Resignation and the Finance Function
Release Date: 10/26/2023
The importance of standard setting - Part 1
Accounting for the Future
Host Anne-Marie Henson is joined by Armand Capisciolto, chair of Canada's Accounting Standards Board, BDO alumni, and former host of the Accounting for the Future podcast. They discuss the importance of accounting standards, the process of setting them, and Canada's influence on international standards. The episode also highlights how standards improve financial information and the role of stakeholders in the process. For more on accounting standard setting, subscribe to Armand’s LinkedIn newsletter: This episode is part 1 of 2. What you’ll hear in this episode: [2:29] The...
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Cybersecurity on the rise
Accounting for the Future
In this episode, host Anne-Marie Henson explores the growing realm of cybersecurity threats with guest Sacha Blasiak-Priestley, BDO's National Leader of Cloud Security. They discuss some of the biggest cybersecurity breaches this year, including Christies, London Drugs, and AT&T. The conversation uncovers the lasting operational and reputational impacts of cyber attacks, AI's intricate role in cybersecurity, and the importance of having a robust, frequently tested incident response plan. What you’ll hear in this episode: [1:27] The trends of emerging cybersecurity threats. [3:07]...
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Enhancing productivity: Data-driven solutions for audits
Accounting for the Future
Learn how technology, particularly AI and data-driven solutions, is revolutionizing the audit profession, leading to enhanced productivity. Host Anne-Marie Henson is joined by Paul Vetrone, Innovation and Change Director at BDO Canada, and Youssef Hounat, VP of Product at DataSnipper. Together they discuss the integration of innovative technologies in auditing, emphasizing the shift towards more efficient and higher-quality audits. What you’ll hear in this episode: [1:42] An introduction to DataSnipper as an intelligent audit platform. [3:20] What do audit firms look for when it comes...
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What should business leaders expect from their auditors? LIVE in Oakville
Accounting for the Future
Auditors can provide value beyond the numbers through practical solutions and advice on governance and regulatory changes. In a special live episode, guest host Mary Mathews is joined by Anthony Marinelli, Assurance-East Leader and Chair of BDO Canada’s Board, in a discussion on how the role and expectations of auditors have evolved and how business leaders should select auditors. They also discuss the impact of ESG and how technology and AI are transforming audit practices. What you’ll hear in this episode: [1:56] How audit has evolved over the years. [5:35] What business leaders...
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AI governance: Navigating innovation in the boardroom
Accounting for the Future
AI holds immense transformative potential for revenue optimization. Yet, governance, ethical considerations, and continuous monitoring cannot be undermined for responsible and effective AI implementation. Guest Achille Ettorre, Advisory Board Member at Queen's University, TedX presenter, and Faculty Member and Executive Consultant at the International Institute for Analytics, joins our conversation on the importance of AI governance, its impact, and ways to mitigate bias. What you’ll hear in this episode: [2:01] Defining Generative AI and big data. [3:49] The impact of AI on...
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Strengthening your foundations: Internal controls for public companies
Accounting for the Future
Having robust internal controls is necessary for accurate financial reporting. In this episode, host Anne-Marie Henson is joined by Michael Crolla, Partner and National Capital Markets & Public Company Services Leader, and John Asher, Partner and Risk Advisory Services Leader in Western Canada. Drawing from their experience, they discuss the current Canadian regulatory landscape for public companies, how strong governance affects audits, and the role that strong internal control environments play in financial reporting. Explore the challenges companies face when establishing internal...
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Navigating the Complexities of Fraud Prevention
Accounting for the Future
Navigating the complexities of fraud prevention and detection in your organization is critical. In this episode, host Anne-Marie Henson is joined by Alan Mak, Partner and National Leader of BDO’s Forensic Disputes & Investigations, and Mary Mathews, Partner in BDO’s Accounting Advisory Group. Drawing from their expertise, they delve into the pervasive issue of fraud in today's financial landscape, discussing current trends, examples of fraudulent activities ranging from small-scale employee expense frauds to larger procurement frauds, and the psychological and societal implications of...
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Bill S-211 – Forced Labour in Canadian Supply Chains
Accounting for the Future
How can Canadian companies prepare to comply to Bill S-211? In this episode, host Anne-Marie Henson is joined by Pierre Taillefer, Partner and National Sustainability and ESG Leader at BDO Canada, in a discussion on the evolving landscape of ESG reporting and compliance. He sheds light on regulatory requirements in Canada, specifically, Bill S-211, highlighting the importance of understanding and addressing compliance obligations regarding supply chain management and the mitigation of child labour and forced labour risks. The episode offers valuable insights into the challenges faced by...
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AI in the Finance Function
Accounting for the Future
From enhancing audits to streamlining processes and predicting financial outcomes, AI is here to empower the finance function. In this episode, host is joined by , a Partner and key leader in BDO’s Innovation & Change team and Senior Leadership Team, to discuss the impact of artificial intelligence (AI) on the accounting and finance function. Together, they explore how AI, including generative AI, can benefit financial statement auditors. The episode also touches on the potential applications of AI for CFOs, discussing its role in pattern recognition, prediction, and transparency....
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Leading the Finance Function of the Future
Accounting for the Future
Despite the effects of the great resignation, there is still appears to be a scarcity of financial talent. In our latest episode, host , Partner, Eastern Canada & SMB Leader for Markets & Industry Canada, and , National Leader for CFO Services at BDO Canada, explore the challenges of hiring and retaining financial talent and the evolving role of CFOs, emphasizing their transformation into Chief Value Officers (CVOs) with a focus on purpose and value. The episode underscores the importance of CFOs cultivating "value acumen" and a growth mindset through continuous learning. Additionally,...
info_outlineIn this season of the Accounting for the Future podcast, we feature three timely, previously aired episodes with additional insights and background information, in addition to three brand-new episodes.
In today’s episode, host Anne-Marie Henson, Partner, Eastern Canada & SMB Leader at BDO, is joined by Mary Matthews, Partner in BDO’s Accounting Advisory Group. Together, they reflect on the impact of the great resignation on the finance function as well as some of the best and worst things to come out of hybrid work. Listeners can revisit the still-relevant insights from BDO Alumni and current Chair of the Accounting Standards Board (AcSB), Armand Capisciolto and Barbara Palmegiani, Partner, and CFO Services Leader to listen to their discussion on the future of the finance function.
What you’ll hear in this episode:
[:10] An overview of what to expect from Season 5.
[2:40] The best – and worst – things that have resulted from hybrid work.
[9:51] Armand Capisciolto introduces Barb Palmegian.
[11:25] The state of the finance function prior to the great resignation.
[13:14] The skills of a “future fit plan”.
[15:31] Finance function in the past and key differentiators from the present day.
[20:48] Altering the CPA reaction to mid-career change.
[23:35] The impact of remote work on connectedness and relationship building.
[27:10] Developing a CFO community and network that is supportive.
[30:14] Addressing the risk associated with a record number of CFOs that are resigning from the finance profession.
[34:06] Recommendations for managing resignation risks on a timely basis.
[36:03] Best next steps for CFOs in this decade of disruption.
The Squiggly Career: Ditch the Ladder, Discover Opportunity, Design Your Career, by Helen Tupper and Sarah Ellis
Quotes:
“Embracing all this new technology has been a great advantage but a little bit of a challenge as well.”
“This decade is the decade of disruption. It’s just a matter of time before we’re saying, ‘here we go again’.”
“We’ve got to find ways of increasing the connectedness, and at the same time working remotely, and those two things don’t have to actually be mutually exclusive.”
“Transformation is not just about influencing more and more technology; it’s about reimagining the entire business model.”