Loretta Doon, CPA – 2017 Most Powerful Women in Accounting Honoree
Professional Credentials: CPA license, California
Employer: California Society of CPAs/CalCPA Education Foundation
Title: Chief Executive Officer
Website URL: www.CalCPA.org
Twitter: @ldoon
Education (Degree/school): Master’s in education, San Francisco State University; bachelor’s degree, University of Hawaii.
What opportunities do you feel women in accounting have now that they didn’t have when you started in the profession?
Female accounting graduates outnumber males—something that wasn’t true when I got my start in this field. This will translate into firms eventually having more female partners than male. Consequently women will be able to succeed into the highest levels. Cathy Engelbert already is CEO of Deloitte, one of the Big Four. I anticipate that women will soon head other major firms. At the same time, I also anticipate more females forming their own firms and specializing in such areas as personal financial planning, forensics and technological consulting.
How important is work/life balance and what suggestions do you have for those who are struggling to attain this?
I think this is an issue that both women and men must confront. One of the great things about today’s technologies is that we can connect 24/7 with our colleagues and clients. That’s also one of the worst things. Who wants to be on call all hours of the day and night? That’s a recipe for broken homes and stressed out professionals. If they want to retain good people, organizations must allow for flexible work schedules and provide benefits like paid sabbaticals
What is the best part about being a women in the accounting profession?
Hearing the stories of other woman accountants on how they have succeeded in the profession while still finding time to assist others. Every spring CalCPA recognizes outstanding female accountants and publicizes their stories. What impresses me most is that these women aren’t just being recognized for their professional abilities but also for their work in the community. For example, one recent honoree works with a community food bank; another participates in a program that helps low-income people achieve financial independence.
How do you see yourself participating in shaping the future of the accounting profession?
CalCPA has a very active student outreach program. We have student campus ambassadors at 35 colleges and universities who organize programs on accounting topics for their fellow students. As CalCPA CEO I enjoy meeting students at various functions and talking with them about their futures.
Looking back at your career, what would you do differently given the knowledge you have today and how can women who are entering the benefit from that knowledge?
If I had the knowledge early in my career that I have today, I would have retired long ago. I don’t think it is useful to speculate on how our lives—and careers—would have been different if we knew then what we know now. I’m not into regrets. What I want to do is use the knowledge I have now to improve my future. Focus on the future, not on the past.
What has made me successful is the people I’ve associated with both in the past and now at the California Society of CPAs. None of us succeeds on our own. We learn from others and owe a great deal to those who mentored us or helped us in some way to advance in our careers. And each of us needs to return the favor by helping younger people grow.
Learn more about the 2017 Most Powerful Women in Accounting.
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