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Business

Becoming a strategic risk adviser: How CPAs can move from compliance to strategy Logo aicpa

  Bonnie V. Hancock and Mark S. Beasley, CPA |   Free |   AICPA |   01 Feb 2015 |   Journal of Accountancy

Traditionally, CPAs have focused more on loss prevention than on the risksimpacting an enterprise’s strategic direction and success. This article discusses how CPAs who use their experience and skills to move beyond compliance can help their organizations navigate risks before they occur.

Topics covered:
  • Management accounting: Business: Strategy, Intermediate
  • Management accounting: Technical: Risk management & internal control: Risk identification & assessment, Intermediate
  • Employee benefit plan auditing: Business: Strategy, Intermediate
  • Governmental auditing: Business: Strategy, Intermediate
  • Financial accounting & reporting: Business: Strategy, Intermediate
  • Assurance: Business: Strategy, Intermediate
  • Not-for-profit: Business: Strategy, Intermediate
  • IT management & assurance: Business: Strategy, Intermediate
  • Firm practice management: Business: Strategy, Intermediate
  • Tax: Business: Strategy, Intermediate
  • Forensic & valuation services: Business: Strategy, Intermediate
  • Fair value measurement: Business: Strategy, Intermediate
  • Personal financial planning: Business: Strategy, Intermediate

8 Comments/Reflections

James Muir

James Muir May 2016

This paper was helpful when we appraised our Key Account Management Programme (KAM) and developed a number of strategic risk initiatives to retain and grow our loyal customer base.In a faster moving enviroment, a greater focus on emerging disruptive innovations is now in place.
James Muir

James Muir May 2016

This paper was helpful when we appraised our Key Account Management Programme (KAM) and developed a number of strategic risk initiatives to retain and grow our loyal customer base.In a faster moving enviroment, a greater focus on emerging disruptive innovations is now in place.
Mohammad  Ahmad

Mohammad Ahmad Mar 2016

Katie Cunningham

Katie Cunningham Dec 2015

Peter Robertson

Peter Robertson Nov 2015

I have always held the view that an effective CFO needs to have a full understanding of what drives the business. He needs to be able to influence the levers that drive strategy. I In this respect I am constantly looking at fresh ways that I can use my unique position in the organisation to influence strategic change. This article was useful and it confirmed the importance of his approach. I would be genuinely embarrassed if my role as CFO did not reach further than dealing with compliance issues.