Thought Leader - Geni Whitehouse on how accountants will create value in the future

Geni Whitehouse is a CPA and the President of the ITA, the Founder of The Impactful Advisor, and a consultant to wineries in the Napa Valley. Whitehouse's resume includes roles at Top 100 and niche accounting firms, accounting software developers, consulting and advisory practices, and private industry. In her role at the ITA, she has a mandate to help lead members through an unprecedented era of change, growth and transformation in the accounting and technology sectors, from ongoing staff shortages to private equity investment in firms to the swift entry of generative AI across sectors.

Summary

• The rapid pace of change in the accounting profession.
• Genie White House discusses the unprecedented pace of change in the accounting and technology sectors.
• Evolving accounting profession through curiosity and innovation.
• Geni emphasizes the importance of curiosity and seeking alternative solutions for clients, rather than relying on the same group of people at events.
• The gap between those who attend events and those who are not aware of the opportunities and innovation available is a concern, as it leads to a lack of evolution and progress in the accounting profession.
• Work-life balance and professional fulfillment for accountants.
• Geni expresses frustration with the low-value work that accountants are consumed with, and the internal desire for something more rewarding.
• Ed Kless agrees, noting that accountants are often too busy to raise their prices or prioritize their own needs, leading to a battle within themselves to elevate the value of their work.
• The future of accounting and bookkeeping professions.
• Geni highlights the challenge of attracting new talent to the accounting profession, with fewer people graduating with accounting degrees and the CPA profession facing a shortage of new entrants.
• Geni suggests that accountants should adopt a more advisory role, rather than trying to be the experts, in order to better serve clients and remain relevant in the industry.
• Asking questions to add value to clients and personal heroes.
• Geni shares their approach to adding value to clients by asking open-ended questions to understand their needs and challenges.
• Geni's hero is her late father, who made her feel safe and supported her potential as a girl in a sports-loving family.