Lynne Doughtie, CPA
2018 Most Powerful Women in Accounting
U.S. Chairman and CEO, KPMG
What advice would you give to female college students about the opportunities for women in the accounting profession?
The first piece of advice I would give is simple: Get excited! You’re embarking on a career where you’ll build lasting relationships with extraordinary people and work with some of the world’s greatest and most innovative companies.
Plus, today’s marketplace presents a host of never-seen-before opportunities. With so much change, I offer five tips for those entering the accounting profession:
- Never stop learning. The advancement of new technologies is changing the organizations we work with and the role of auditors. I see a future where the combination of data and analytics and cognitive technology will give professionals the tools they need to tackle clients’ most pressing challenges. Ongoing learning will ensure you’re always adding value to your organization, teams, and clients.
- Be innovative and interactive. Question why things are done the way they are, and always challenge “the norm” to be better and more efficient. Never settle for good enough. Ask “what if?” and try new ways of doing things. Experiment with new technologies. Monitor consumer trends and what’s happening in the marketplace. Share your discoveries.
- Value diverse perspectives and be a great collaborator. In today’s marketplace, old ways of thinking won’t cut it. Finding solutions to problems requires new skills and experiences and higher levels of teaming and collaboration. The ability to work shoulder-to-shoulder with others and bring together diverse perspectives will serve you well. It will result in innovative solutions and richer points of view.
- Make your goals known. Don’t wait for someone to tap you on the shoulder. Be vocal about your interests and aspirations; proactively develop relationships with those who can help get you there, like mentors and sponsors.
- Don’t be afraid to take risks. Whenever you leave your comfort zone, you learn and grow the most.
What would you suggest to accounting firms that are interested in retaining and advancing more qualified female staff?
It starts at the top. To make a lasting impact, leaders need to drive change that requires getting surgical. We have to do more than tell women they need sponsors. We have to identify high-potential women by name and strategically map them to those who can help them get to the next level. We have to set goals, measure them and hold leaders accountable.
Why did you choose to work in – and stay in – the accounting field?
I’ve spent my entire career at KPMG because at our firm you can have “multiple careers” thanks to the breadth of experiences and opportunities available. Each role enabled me to expand my knowledge, grow my skill set, broaden my professional network, and work with some of the world’s leading organizations.
What are you currently reading?
Return on Integrity: The New Definition of ROI and Why Leaders Need to Know It, by John Blumberg.
What changes do you foresee in the accounting profession of the near future (3-5 years)?
Technology – in the form of data and analytics advances, cognitive capabilities, and robotics – will continue to provide an exciting array of opportunities to automate how our profession gathers data and audit evidence on which to form an audit opinion. This changing landscape will also provide new opportunities for providing assurance on an expanding range of information used to make important decisions.
Data and analytics experience and knowledge will be a requirement for future audit professionals. To ensure we have the talent we need, our firm launched the KPMG Master of Accounting with Data and Analytics Program in 2016. Through this first-of-its kind program, KPMG is partnering with leading business schools to provide our data and analytics tools along with case studies and data sets to prepare the emerging workforce for the data age.
How do you see yourself participating in shaping the future of the accounting profession?
Above all, by maintaining the highest levels of professionalism and integrity as we continue our critical role in helping to protect the capital markets. Other important initiatives include developing future leaders in our profession; driving innovation and investments in technologies that enhance the quality of audits; and increasing inclusion and diversity across the profession.
Describe one person who has been an important mentor to you and how that person helped shape the direction or focus of your professional life.
My mother – a business woman and entrepreneur who constantly encouraged and supported others. She was an incredible mentor who taught me what it meant to make a difference in the lives of others. She impacted hundreds of people – including me. I always aim to continue her legacy of encouraging and building confidence in others.
Please share a personal rule or principle that you follow.
Always let your values guide you. Know who you are, what you stand for, and what you’re willing to fight for. When it comes to your values, never compromise!
See the full list: 2018 AICPA / CPA Practice Advisor Most Powerful Women in Accounting.
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