Change your mindset
December 01, 2023
By Gary Bolinger
CAS is not CAS.
Most firms today have some level of client accounting services (CAS). Many firms are deciding what to do related to client advisory services (CAS).
Other than the acronym, accounting services have little to do with advisory services. Accounting services report on historical information. Advisory services are prospective and designed to position the client for future success. Those are two very different mindsets. Some firms are even trying to integrate advisory services into their current accounting services practice. That is a struggle for staff because of the different mindsets that are required.
Staffing requires a different mindset as well. To enable your advisory practice, your advisory staff does not need to be CPAs. Perhaps the advisory staff should not be CPAs. CPAs have a compliance mindset. They need to know what the rules or standards are. Make sure that your advisory services staff has outstanding communications skills — especially listening skills. Consider finding staff with degrees in communications, marketing, management and/or business administration.