The Dawn of a New Era in Accounting

In recent years, the accounting profession has experienced a profound transformation that goes well beyond AI and the allure of private equity. Amidst these challenging times, a new era in accounting—one characterized by a profound connection to spiritual development and turning inward to explore what makes up a more fulfilling, meaningful life.

In this article, we’ll explore the two key phases of the spiritual transformative journey: the “dark night of the soul” and subsequent “start of a new life”. Along the way we offer insights from our coach team and provide guidance for CPA firms who desire to differentiate their culture by becoming the best place to grow- personally and professionally.

What is Dark Night of the Soul?

The “dark night of the soul” is a metaphorical journey through a challenging and transformative phase where one begins to question everything. It is common to feel confusion, overwhelm and lost during this period. This phase demands deep introspection, a reevaluation of meaning, and a contemplation of one’s habitual ways of thinking, acting, and feeling. As Dr. Nicole LaPera, renowned as the Holistic Psychologist, aptly puts it, the dark night of the soul occurs when “We stop living out of our autopilot programming….(When) we start to realize we’ve been conditioned to perform, achieve and to seek external things to make us happy or feel worthy of being loved.” The dark night of the soul represents a pivotal moment in the evolution of self, prompting a deeper exploration of purpose and significance in one’s professional and personal journey.

Insights From A Professional Coach on the Awakening of Accountants

At Conscious Public Accountants, we keenly observe the awakening taking place within the accounting community. Through coaching engagements- that span from staff to managing partners and CFOs- we witness accountants navigating the challenges of their personal “dark night”.

Prior to COVID, our coaching clients sought support for external goals outside of themselves. Outcomes such as pay raises, job promotions, and growing a book of business were commonplace. COVID changed everything. A notable New York Times article in 2021 highlighted individuals leaving prestigious jobs to pursue their passions. This signaled a collective realization that the status quo was no longer sustainable. The article noted a theme had emerged:

“The pandemic changed my priorities, and I realized I didn’t have to live like this.”

Real talk: No one wants to be working like we have been working. Mandatory Saturdays, 55+ billable hour work weeks, and responding to client emails within 24 hours are nothing more than programmed beliefs about how work should be done. The pandemic exposed the flaws in our beliefs about what a “good” work ethic looks and sounds like. It revealed our profession needs to work smarter, not harder.

Spiritual awakenings are challenging and imperative; they force us to recognize the ineffectiveness of our behaviors. Consciousness precedes choice, and choice precedes change. When accountants awaken to what is no longer working, the opportunity for becoming greater has emerged.

Start of a New Life

The emergence from the dark night of the soul heralds the beginning of a new life. Since the onset of COVID, the focus of our coaching engagements has turned inward. We are there to guide clients towards a more meaningful and fulfilling life.

Coaching sessions have become deeply introspective spaces where clients explore bigger questions, such as:

What work is most meaningful to me?

How can I grow my career without sacrificing my soul?

What beliefs do I hold that no longer serve my life and our organization?

What is trying to emerge in my organization?

Who is the leader I want to consciously become?

It takes deep courage and internal strength to navigate this transformative journey. These new-world leaders face the challenge of forging entirely new paths. They aspire to deliver services that have never existed and yearn to manage their practices very differently. But their novel ideas are often met with confusion or resistance. These new-world leaders want to live a more balanced lifestyle but don’t know how. The necessary behavioral changes are hard to put into practice when one has never witnessed them. With great challenges, comes great growth.

Heightened Awareness and How CPA Firms are Holding Space for This Transformation

As accountants embark on this new era, they bring with them a heightened awareness that transcends the traditional confines of their profession. These fresh perspectives position accountants to contribute to a more ethical, responsible, and interconnected world.

CPA firms can play a crucial role in this transformation by creating environments that foster personal development, encourage purpose-driven approaches, and cultivate a culture where individuals feel safe expressing their deepest truths.

At Conscious Public Accountants, we believe that personal development significantly enhances business results. One example of personal development to optimize business performance is our leadership development experience, Ascension. To effectively lead another, one must start with effective leadership of their own self. Our program teaches leadership competencies that have been left out of traditional accounting curriculum. We also integrate introspective individual coaching experiences where one explores the greater meaning of their life. The program also has a group component, where participants connect on a much deeper level with their colleagues. This unleashes the leadership potential and productivity of the group, as well as fosters a deeper commitment to one another.

In the distributed work environment, our observation is that personal connections often take a back seat in virtual meetings. Today’s virtual meetings tend to overly focus on what people are doing and miss out on really getting to know one another on a personal level. Do you remember what it was like to sit next to someone and hear or observe what was really going on in their life? The in-person experience of your colleague provided context as to why their work was or was not being completed. Colleagues who connect with one another on a deeper level of life are more committed to their roles. And this commitment leads to higher productivity and overall better business outcomes.

Creating the Container for Personal Development

CPA firms that create containers for personal development empower their employees to explore what they really want to do with their life, and create risk-free spaces for employees to share these dreams. What we have witnessed in this work is that, while initially perceived as risky, this approach benefits everyone involved. Your future leaders awaken to their highest level of contribution. They see possibilities for creating something the firm needs but does not yet have or see. These shared conversations about what is possible evolve the consciousness of the self, the teams, the entire system and those they serve.

Conclusion

As the accounting profession undergoes this multifaceted transformation, each phase—from the dark night of the soul to the inception of a new life—unveils deeper understanding of purpose and interconnectedness. This journey not only enhances the professional lives of accountants but also contributes to a positive and conscious evolution of the industry. By recognizing and embracing these transformative elements, the accounting profession is poised for a future that surpases conventional norms, unlocks untapped potential and creates a more meaningful and fulfilling working environment for all involved.

Thank you to the CalCPA who published this article in the March/April edition of California CPA. It brings me so much joy to see the real talk in print!