The accounting profession has always adapted to change—but what if it could actively shape the future instead of simply reacting to it? In this episode, Ron and Ed welcome Tom Hood, EVP of Business Engagement & Growth at AICPA & CIMA, to discuss Rise2040, the profession-wide initiative designed to help accountants and finance professionals envision—and create—the future of the profession.
Tom explains why AI, automation, shifting client expectations, and changing talent models require a new mindset centered on foresight rather than hindsight. The conversation explores the key themes emerging from the Rise2040 project, including how trust becomes even more valuable in an AI-powered world, why accountants must evolve into strategic advisors, and what firms and finance leaders can do today to prepare for the next 15 years.
Whether you’re in public accounting, industry, or simply curious about where the profession is headed, this discussion offers a compelling look at how accountants can move from reacting to disruption to leading it.
About Tom Hood
Tom Hood, CPA, CGMA, CITP, is Executive Vice President of Business Engagement & Growth at AICPA & CIMA. A longtime thought leader on the future of accounting, he previously served as CEO of the Maryland Association of CPAs and is a LinkedIn Top Voice with more than 700,000 followers. Tom leads initiatives including Rise2040, helping accounting and finance professionals prepare for an AI-driven future through innovation, leadership, and strategic foresight.
SHOW NOTES
Segment one
What’s Rise2040 about? Here is a link to the full vision report https://www.aicpa-cima.com/advocacy/landing/rise2040
The Rise2040 report separates broad “drivers” from specific hard and soft trends (as any proper trend report should do). Trust is the connective layer across all 5 drivers of the report. https://www.aicpa-cima.com/advocacy/landing/rise2040
The three hard trends identified in the Rise2040 report are: Regulations and standards, Demographics, and Technology https://www.aicpa-cima.com/advocacy/landing/rise2040
The DIKW Pyramid https://en.wikipedia.org/wiki/DIKW_pyramid
Segment two
The biggest finding from Rise2040? “What is the one thing that we absolutely can’t use. Consistently, across the world, […] responses were trust, ethics, and integrity.” —Tom Hood
What does the profession need to most unlearn? “You have to go from being experts to being learners.” —Tom Hood via a conversation with Ms. Brown
Which hard trend do you think the accounting profession is still dramatically underestimating? “I think it’s AI. That speed factor [and impact of AI]” —Tom Hood
“In Rise2040 we talk about the idea of AI as a force multiplier for finance and accounting professionals, both in public practice and in corporate finance.” —Tom Hood (more at this link https://www.aicpa-cima.com/advocacy/landing/rise2040)
Segment three
Who remembers the After Action Report (AAR)? Of course you do. Tom Hood and the AICPA ran an AAR on their previous vision reports (as one should) to help generate learnings for Rise2040. https://www.aicpa-cima.com/advocacy/landing/rise2040
Where is the accounting profession headed based on Rise2040? “We’re going from historian to strategist. Or, If I could summarize the whole thing, we’re moving from a past, heads down profession (looking in the rear view mirror) to a future tense profession, guiding people by looking out the windshield.” —Tom Hood https://www.aicpa-cima.com/advocacy/landing/rise2040
“The adoption of AI by our profession is not where it needs to be. And that’s tru of most firms, and most of the corporate groups as well.” —Tom Hood
Rise2040: A human-led profession built on trust https://www.journalofaccountancy.com/issues/2026/jun/rise2040-a-human-led-profession-built-on-trust/
Segment four
On private equity in the accounting industry: “As we look at it, it’s just another form of capitalization.” —Tom Hood
Let’s end with some great news: “80% of our members are somewhat to highly optimistic about our future” —Tom Hood
A big THANK YOU to Tom Hood for joining us today. The Rise2040 vision report is available now at this link https://www.aicpa-cima.com/advocacy/landing/rise2040
Bonus Content is Available As Well
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