CORE COMPETENCIES

Communications and Leadership Skills
Able to give and exchange information within meaningful context and with appropriate delivery and interpersonal skills. Able to influence, inspire and motivate others to achieve results.

Highest Rated Implications

• Requires development of a wide variety of new skills.
• Involves the use of non-traditional methods.
• Includes development of different communication skills for internal use and external use.
• Involves the use of technology.
• Requires timeliness.

Discussions and Interpretations
CPAs will develop the ability to actively listen and gain understanding of explicit and implied needs of customers, clients and employers. CPAs ask targeted questions to strategically probe for valuable information. CPAs help others to discover meaning and opportunities in a wide variety of information sources. CPAs express innovative and insightful information and advice in a clear and easily understood manner. CPAs leverage and share knowledge and contacts for the mutual benefit of clients, employers, and colleagues. CPAs will develop a broad range of techniques including facilitation, teamwork, and Òpeople skillsÓ far beyond traditional written and oral skills to enhance the delivery and effectiveness of new products and services.

Strategic and Critical Thinking Skills
Able to link data, knowledge, and insight to provide quality advice for strategic decision-making.

Highest Rated Implications

• Requires focus on adding value and broadening services and revenues.
• Commands greater compensation in the marketplace.
• Requires a proactive rather than reactive stance.
• Requires forward rather than historical thinking.
• Requires additional and revised education and training.

Discussions and Interpretations
CPAs will expand their ability to gather data from a wide variety of sources and increasingly provide valuable, strategic interpretations for decision-making. Without jeopardizing the broader public interest, CPAs will find the real meaning behind financial and non-financial information and design criteria to evaluate performance in a variety of business areas. CPAs use strategic and critical thinking skills to pinpoint untapped areas of financial growth, opportunity, and success. CPAs will refine and enhance traditional planning to include new techniques such as visioning, scenario planning, and environmental scanning to keep the focus on the desired results.

Focus on the Customer, Client and Market
Able to anticipate and meet the changing needs of clients, employers, customers, and markets better than competitors.

Highest Rated Implications

• Expands profit potential.
• Requires living and coping with constant change.
• Requires commitment to leadership.
• Requires the ability to recognize market needs.
• Requires the ability to develop new markets.

Discussions and Interpretations
CPAs actively and continuously pursue knowledge of current and emerging market trends. CPAs actively and effectively market their professional talents and abilities. CPAs understand how to maneuver in the competitive environment, can identify strategic directions, and mobilize resources to capitalize on opportunities. CPAs focus on identifying the Òright questionsÓ to target the needs of the client, customer, or employer.

Interpretation of Converging Information
Able to interpret and provide a broader context using financial and non-financial information.

Highest Rated Implications

• Requires more broad-based knowledge.
• Increases demand for timely delivery.
• Mandates a clear understanding of emerging technologies as a predominant medium.
• Increases potential for errors and thus requires new competencies and skills.
• Requires useful formats for presentation of information.

Discussions and Interpretations
CPAs will continuously draw information from a wide variety of sources, financial and non-financial. CPAs make use of tangible and intangible information to provide interpretations that are timely and of value. CPAs will increasingly utilize a systems approach, including formal and informal networks, to gain information and provide interpretations and insights for decision-making. CPAs will develop methodologies to measure and value intangibles of the knowledge age, such as intellectual capital.

Technologically Adept
Able to utilize and leverage technology in ways that add value to clients, customers, and employers.

Highest Rated Implications

• Increases overhead costs for firms and organizations.
• Decreases cost of functions as technology replaces manual activities.
• Enhances ability to understand the impact of globalization.
• Increases cost of capital investments.
• Requires the ability to combine critical thinking and professional judgment with the use of technology.

Discussions and Interpretations
CPAs will awaken to the countless ways that technology is reshaping, refocusing, and redesigning our lifestyles, working methods and techniques, educational experiences, communication skills and applications, and the practices and processes of the finance, economic and business world. CPAs will continue to cultivate a working and strategic knowledge of current and emerging technologies. CPAs appropriately utilize technology to efficiently enhance the interface between people, procedures, structures, and systems. CPAs become facilitators of change through the ability to identify, select, and maximize the use of technological developments, not only through automation of manual processes, but also through new ways of working. CPAs utilize technology, not for technology sake, but when it can be leveraged to enhance performance and produce measurable results. CPAs will determine optimum methods to enhance these skills, either through in-house training, hiring new employees, continuing education programs, or strategic alliances to enable themselves to integrate these services.