Riding the waves of change in 2025

As we step into 2025, I’m reflecting on the year’s personal and professional accomplishments while planning future goals.

Many people set personal resolutions as the new year begins. Continuing my weight loss journey is one of mine – probably a common resolution. As lifelong learning is a core value to me, I also aim to improve my relationship and leadership skills. Earlier this year a speaker at the OSCPA Strategic Leadership Conference led the group in writing a personal mission statement. I’ve written mission statements for businesses and several non-profits, however a personal mission statement was new to me and exciting. In the new year, I will keep reviewing and polishing mine.

On the professional front, many of us are in the process of setting goals and budgets for the future. OSCPA has updated its strategic plan for 2025 to 2028. OSCPA board members and staff had a deep and thoughtful discussion led by a professional facilitator, identifying five key initiatives:

1. CPA Pipeline: Develop a framework to reach students at all levels to promote the CPA career path.
2. Membership: Promote OSCPA member value and stimulate engagement to retain and grow membership.
3. Continuing Professional Education: Provide and expand high-quality and relevant continuing professional education. 
4. Advocacy: Advocate for the profession through strong relationships with external stakeholders and keeping members informed.
5. Organizational Capacity: Sustainably align the OSCPA’s resources to support the society’s strategic initiatives.

The OSCPA Professional Issues Update in December also reviewed 2024 accomplishments while highlighting changes to come in 2025. Economist Steve Scranton addressed economic uncertainty, while legislative counsel Nicole Hazelbaker addressed political uncertainty. Martin Pittioni, executive director of the Oregon Board of Accountancy, discussed legislative proposals for the 2025 legislative session, which have been built collaboratively through OSCPA, BOA, and OAIA efforts. Among the proposals is a bill with three alternative paths to CPA licensure:

• Retaining the current 150 semester hours of education plus one year of experience
• Adding a master’s degree plus one year of experience
• Adding a bachelor’s degree plus two years of experience

The additional cost and time for a fifth year of college has been perceived as a significant barrier to CPA licensure and the talent pipeline. It is one of many issues being addressed this session. Lastly, the OSCPA Professional Issues Update covered other current topics of interest including AI.

I recently listened to an AICPA podcast about the 2024 Future of Finance Summit. The theme was “Riding the Waves of Transformation.” It struck me as an important theme. There are many external trends impacting the CPA profession: the demand for new skills, GenAI, maintaining culture in hybrid environments, accelerated digital transformation, innovation, and growth. I strongly believe that we must lean into technology to gain efficiencies and allow for growth.

The world of being a CPA is undergoing rapid change, and those we work with depend on us to stay informed. For example, during the holidays, the due date of the Beneficial Ownership Information filings changed three times in one week. We know that significant changes in tax law will happen with the Tax Cuts and Jobs Act set to expire at the end of 2025. (Read more on BOI updates.) Major tax legislation may be passed in 2025; time will tell how significant. Communicating changes and impacts will be important and we will continue to be nimble.

I am proud of the people who make up our profession. The mindset of our teams and their ability to be resilient is amazing. We have a collaborative profession that will solve problems together. We are willing to share experiences and learn from each other.

My year as chair is coming to an end. It has been an honor to serve as the OSCPA chair and participate with the AICPA Council. In addition, my CPA career is coming to an end in a couple of years, and I am planning for the transition of clients. I intend to spend more time teaching and mentoring young staff, something I love to do. I will continue to be involved with the OSCPA and AICPA. I am only one of many baby boomers stepping aside as the next generation of leaders takes our place. I am excited to see the changes they bring to the future of the CPA profession.

John Hawkins, JD, CPA is the 2024-25 Chair of the OSCPA Board of Directors. Contact him at ChairJohn@orcpa.org.