Improving high-speed internet access is good for the profession

Connecting more communities to high-speed internet will create new opportunities for the accounting profession (Getty Images/vorDa)

It’s been well established that the future CPA will need to be tech-savvy but, without a strong internet connection, work and study opportunities for prospective candidates can be severely impacted.

Rural areas are notorious for limited broadband access, but this is beginning to shift. In May 2021, the province of Manitoba announced plans to connect more than 125,000 rural homes. In July 2021, the governments of Canada and Ontario pledged to do the same for more than 435,000 homes in Eastern Ontario by the end of this year. And, in September 2021, broadband provider Xplornet launched its first standalone 5G network, which will provide high-speed access to more than 250 rural communities across the country by 2022.

Experts are seeing this increased access to broadband networks as a gateway to an enhanced accounting profession. Creating equalized access will benefit those living within these communities, as well as the profession overall, since more people will be able to access e-learning programs and work remotely for top firms.

ACCESSING EDUCATION

In the case of CPA education, continuing to offer online learning remains a priority. As CPA Sandy Lyons, senior manager, Grant Thornton Limited, points out, “Increased access will encourage learning and encourage credentialing.” 

E-learning allows people to access courses and lectures on their own time, says Lyons. It also lets them do away with certain fixed costs, such as paying for transportation to campus. “That’s creating great opportunity for our practitioners and those who want to get into the profession, with cost not being a barrier to entry,” he says.

In remote communities, 34 per cent of households have indicated that price is a barrier to having an in-home high-speed connection. “Not everybody can afford a $700 satellite dish and $125 a month for Starlink,” says CPA Chad Davis, partner and founder at virtual accounting firm LiveCA. “It’s a real economic decision, too. So, if we’re talking about engagement and encouragement, you’re only going to have people who are financially stable becoming CPAs.” 

Right now, says Lyons, “Indigenous communities are greatly affected by an infrastructure that doesn’t exist.” This makes it challenging to study, participate in e-commerce and business-to-business engagement, he says. Even hosting a blog can be difficult. 

And, after obtaining an initial designation, Lyons says there is still “micro-credentialing” to consider with career and professional development requirements and the need to advance skills on a regular basis. “We have to look at how that communication works as we’re no longer doing bricks and mortar learning.”

EXPANDING WORK OPTIONS

The pandemic has changed the way people view work, with remote jobs and hybrid models likely here to stay. This, combined with wider internet access, will have a strong impact on the future of the profession as job opportunities are created and the number of potential applicants grows. 

For instance, Davis says that since the start of the pandemic, his firm has seen an increase in job applicants because remote work is now socially accepted. He has also seen more virtual firms popping up, adding that some firms are competing for virtual employees by offering perks such as supplementing internet costs.

“The general movement to remote work is opening up conversations in people’s minds that may not have occurred pre-pandemic,” he says. “Any investment like [increased broadband access] is only going to increase and multiply that advantage. It’s a compounding effect of changing the way people think about work and removing the barriers to internet connectivity.” 

SERVING THE PUBLIC

Increased broadband access opens up opportunities not only for CPAs but for those they serve. 

“It has a great impact in public practice,” says Lyons. As fixed overhead costs such as rent and other payments are reduced, this has a trickle-down effect, resulting in lower fees for services. “The more broadband we have and the more accessibility we have in remote communities, the more our economy can grow.”

Also, as more people have adapted to remote work, they have started seeking additional online services from accountants. 

"Our clients are really starting to look at what services a CPA firm can give them,” says Lyons, adding that many organizations that are moving to a permanent hybrid work model are also fulfilling the public’s needs. 

“The CPA of tomorrow is an exciting individual,” says Lyons. “The technology now allows you to communicate with people anywhere—if you have access to it.”

LOOKING AHEAD

Learn how rural internet could hold the key to Canada’s economic future. See what skills CPAs need as the profession evolves. Also, discover the different ways to begin a career in the public sector and how to prepare for a career with big data.