The 5 big trends coming out of The ONE

At 2024’s The ONE Conference in Calgary, CPAs from all over the country came together to network, learn the latest updates on pressing issues facing the profession today, and listen to compelling speakers like Hollywood’s Simu Liu — an almost-CPA himself.  

“The rules of business are the same everywhere,” said Liu in a keynote fireside chat with CPA Canada President and CEO Pamela Steer. “Studying business allowed me to develop a framework of how the [Hollywood] industry works.”  

The self-professed “failed accountant” and star of Kim’s Convenience and Barbie is a great example of how a CPA’s skills are applicable in many arenas. And while the actor won’t be doing his famous friends’ taxes anytime soon — “Do you want to go to jail?” he joked — skills and ways of thinking he learned while in the business world have helped him remain successful today.  

There was a lot more to take in over the two-day conference. Here’s a round-up of the top five trends discussed, and tips to keep you on the leading edge.  

When it comes to sustainability, language matters more than ever 

The most important information about ESG right now is reliable information. Whether your organization operates solely in Canada, or does cross-border business, it’s imperative to keep up with ever-changing regulations and disclosure requirements. While reporting in Canada is still voluntary, speakers Janice Anderson of Nutrien and Steve Aubin of Deloitte suggest looking to the EU as the possible future standard. In the meantime, Bill C-59 in Canada has made language a key issue. Terms like “carbon-neutral” and “sustainable” used in public-facing documents are now in scope to be investigated, and the penalties for misuse are steep — up to 3% of global revenue. An ESG compliance team in your finance department is highly recommended to keep up with these evolving standards.  

Adopt AI responsibly, and put people first   

With low- and no-code tools making the technology more accessible than ever, AI is already impacting the CPA profession. The benefits are many, but, as with any new technology, there are risks, like data privacy and security breaches, and ever-evolving compliance issues. In his closing keynote AI consultant Ramy Nassar discussed the importance of responsible AI adoption, especially in these early days. Planning ahead—with a 2030 mindset—should enable you to define your internal guidelines to establish how your organization will and won’t use the technology to mitigate those risks. That kind of future-focused planning will also enable you to keep people at the forefront of this tech boom, by helping you consider tech that enables rather than replaces teams.  

Integrate your personal values into your leadership 

Keynote speaker and award-winning entrepreneur Zahra Al-Harazi brought the personal into the professional during her session From Start-Up to Standout: Harnessing Creativity and Purpose in Business. “The key to my success was understanding who I am and what I’m made of,” she said. “There’s no separation of who you are as a person and who you are at work.” One of the ways she integrated the personal into the professional was by creating a creative brief for her personal brand, asking questions like “who am I?”, “where am I going?” and “how am I going to get there?” Clarity like that ensures aligned and purposeful decision-making for your organization.  

To stay innovative you need to stay connected  

Despite the influx of new technologies, there are many ways for CPAs to remain innovative at a human level. Over the course of the conference, many speakers identified key qualities seen in CPAs that will allow them to not only harness tech to make the profession better, but allow them to connect person to person across an organization to bring the most value possible. “The best innovation happens when we collaborate with other professionals,” said Alycia Calvert, Chair and CEO of EY Canada. “That’s the direction we’re going. How do we build those ecosystems so they’re strong? Business is rapidly changing and we need to constantly be building new things.” Leaning on your competencies as a CPA—like adaptability and critical thinking—will continue to help push innovation in the field.   

Lean into your resourcefulness—it’s what everyone’s looking for  

Much was said about the benefits of the CPA designation, and all the ways being a CPA can expand your career possibilities within many different business sectors. It’s more than just a credential and a career—it’s the development of a strategic muscle that strengthens teams of all kinds. “CPAs have the capacity to think about the different ways to solve problems that many do not,” said EY Canada’s Calvert. Almost every organization today is dealing with scarce resources, but a CPA’s ability to look at systems and make efficient pivots means always bringing value to their workplaces.  

“It’s never been a better time to become a CPA,” said Rachel Miller, CEO of CPA Alberta. “CPAs can save the world.”