April FM: Sustainability, credible leadership, delivering bad news

The best time to start on digital transformation? Well, it was five years ago. But, says digital transformation expert David Rogers, starting now is the next best time. Rogers, an author, speaker, and corporate consultant, is also a professor at Columbia University. He explains some of the ways companies hurt themselves in transformation efforts, why people management is such a big part of those digital changes, and how some companies are making gains even without big budgets or fancy, new apps. What you’ll learn from this episode: ·         A discussion on why digital transformations are so difficult. ·         The importance of people alignment in a digital transformation effort. ·         Why budgeting is not a vital part of such transformations. ·         The advice about planting a tree that also applies to digital transformation urgency. ·         Why there is no single KPI for digital transformation.

This episode features Oliver Rowe, the editor-in-chief of FM, detailing the contents of the April digital edition of the magazine. Rowe explains how members can access the most recent edition of the online magazine. He also highlights several articles, including this edition’s theme of sustainability. One noteworthy column, on businesses increasingly taking a multicapital approach to maximising value, was written by CIMA President Sarah Ghosh, FCMA, CGMA. Ghosh recently was a guest on the FM podcast, speaking about the importance of International Women’s Day. Also, this link features Rowe speaking about the February edition. What you’ll learn from this episode: ·         The paths for members to access content in the digital editions. ·         Highlights of the April edition, including focus areas of sustainability and leadership. ·         The advice regular contributor Rhymer Rigby gives for delivering bad news. ·         The focus of Liam Bastick’s column on using Microsoft Excel.

Avani Desai, CPA, attended the World Economic Forum’s annual meeting in Davos, Switzerland, in January. It was her first visit to the mountain town’s famed event that brings together world leaders and subject matter experts. In this episode of the FM podcast, Desai reflected on the lessons she learned and on the perspective she gained — as an attendee and a discussion moderator. Desai led a panel discussion on the intersection of artificial intelligence (AI), supply chains, and cybersecurity. She summarised some of the lessons she can apply to her role as CEO of a large US accounting firm. What you’ll learn from this episode: ·         Desai’s description of the World Economic Forum meeting in Davos, Switzerland. ·         Details of the panel discussion that Desai led. ·         The session that was “definitely a highlight” for Desai. ·         The tie-in between AI and cybersecurity. ·         Why the International Women’s Day theme resonates with her. ·         How one mentoring experience changed Desai’s view of Schellman’s messaging about the profession. ·         The lessons from Davos she has taken back to her firm.

Sarah Ghosh, FCMA, CGMA, is most of the way through her one-year term as CIMA president. In this episode of the FM podcast, intended to recognise International Women’s Day, she reflects on people she’s met, questions she’s asked, and progress made on numerous fronts. Ghosh discussed the launch of an AICPA & CIMA mentoring programme, reflected on her background in technology, and shared highlights of her global travels.  FM resources: Article about a finance director on leading with integrity Article about a CFO in South Africa who champions collaboration Article about a Singapore CFO on leadership AICPA & CIMA resource: Main page on diversity, equity, and inclusion What you’ll learn from this episode: ·         Three themes of her term as CIMA president. ·         How the accounting profession can continue to be purpose-driven. ·         Ways in which the profession can take the lead on inspiring inclusion. ·         The stories of female leaders that “are really powerful”.

Author Alison Taylor, a clinical associate professor at New York University’s Stern School of Business, explains the reasons business ethics has become a “confused topic” and why treating ethical problems as “tick-the-box PR” can make leaders look directionless. Taylor’s book, Higher Ground: How Business Can Do the Right Thing in a Turbulent World, opens up a discourse on new ways to approach this complex landscape and highlights the importance of prioritising fundamental values, with the impact on human beings at the centre of decision-making.   What you’ll learn from this episode: Why business ethics is a complex issue. The problems arising from conflating ethics and ideology and treating “CEOs as politicians”. How to cut through the noise by taking a people-centric approach. The reasons that leaders should avoid treating ethics and impact issues as public relations problems. The importance of understanding and focusing on your core values.

This episode features an occasional host of previous FM podcasts, Oliver Rowe, who is editor-in-chief of FM. Rowe explains how members can access the most recent edition of the online magazine. He also details some of the articles, including those by AICPA & CIMA leaders. Resources: n  The page for members to access FM editions. n  The public link for FM magazine, featuring news, podcasts, and more. n  A previous, ethics-focused FM podcast episode hosted by Xose Lumor. What you’ll learn from this episode: ·         Details on the frequency of FM editions. ·         Two paths for members to access the content in the editions. ·         An explanation of the fraud triangle and highlights of Xose Lumor’s article on the topic. ·         More on Rhymer Rigby’s career-focused article about dealing with the departure of the boss who hired you. ·         One article’s practical advice on leading digital strategy.

Andrew Harding, FCMA, CGMA, chief executive—Management Accounting at AICPA & CIMA, made the trip to Orlando, Florida, last week to continue in the knowledge sharing that occurs at the Future of Finance Summit, a US event in its third year and one with companion events in other parts of the world. In this FM episode recorded at the summit, Harding shared key takeaways, insights into the optimism from businesses in China, and why one session topic took him back to his days as a coach on the football pitch. He also offered a succinct, three-pronged message for the profession in 2024. What you’ll learn from this episode: ·         The importance of “learn, unlearn and relearn” for finance professionals. ·         An explanation of the T-shaped model for skill and knowledge development. ·         Why a session on how women can gain appointments to corporate boards resonated with Harding. ·         His observation about China’s use of digital payments being different than in other parts of the world. ·         An explanation of the T-shaped model for skill and knowledge development. ·         The key trends affecting the profession in the new year.

A single cybersecurity breach can cost millions of dollars, so it’s critical that companies take a proactive approach and commit to shoring up their defences by making informed decisions and investments. An updated CGMA cybersecurity tool provides a place to start. Ken Witt, CPA, CGMA, AICPA & CIMA's associate director–Management Accounting Research and Development, joins the FM podcast to discuss the latest trends in cybersecurity and share details about what the recently released tool offers organisations of all sizes. What you’ll learn from this episode: ·         How digitalisation sped up by the pandemic has accelerated cyber risk. ·         The stunning price tag of a security breach and the areas that are most vulnerable to breaches. ·         The unique challenges facing small entities, and a small step they can take to combat their concerns. ·         Top “amplifiers” and “mitigators” that finance decision-makers should keep in mind. ·         How the CGMA cybersecurity tool can help IT pros and non-IT stakeholders alike.

Productivity expert and author Hayley Watts discusses the reasons people struggle with productivity and why digital correspondence is, despite its advantages, creating a challenging environment for communication.  Watts spoke at the UK and Ireland ENGAGE several months ago, and she offers tips to help leaders and employees to channel productivity into their working lives.  Watts, a co-author of How to Fix Meetings: Meet Less, Focus on Outcomes and Get Stuff Done, explains why technology can sometimes be more of a hindrance than an aid, why less is more when it comes to setting priorities, and shares strategies we can use to “get in the zone” in an era of urgency and distraction. What you’ll learn from this episode: §  Three common reasons why people struggle to stay productive. §  Why our reliance on digital tools to improve communication can be antithetical. §  How leaders and managers can respond to cultures that are enabling burnout. §  Why flexible working is a challenging balancing act. §  How to get a better understanding of daily goals and priorities.

New research from AICPA & CIMA, together as the Association of International Certified Professional Accountants, and the World Business Council for Sustainable Development (WBCSD) found a disconnect between the way leaders operate in day-to-day business and the long-term strategic initatives that keep businesses relevant and competitive amid constant change and transformation.  Peter Spence, associate technical director of management accounting at AICPA & CIMA, and Andy Beanland, a former consultant with the WBCSD, provide further insight into why business strategies are becoming increasingly complex, and why a holistic, adaptive approach to performance is necessary to set businesses up for long-term success in an era of disruption. Resource page AICPA & CIMA   What you’ll learn from this episode: §  How integrated performance management can help drive better business decision-making. §  Some of the reasons businesses today may fail to fully execute their strategies. §  Why silo mindsets make for weak management systems. §   Analysis of the differences between weak-matrix and strong-matrix management systems. §  The importance of adaptability and innovation in an era of change. §  How to create a performance culture that engages workforces.