“The best thing accountancy alums can do to help grow the profession is to share their stories.”
Anoop Mehta, AICPA Chair
Miami University’s Department of Accountancy welcomed Anoop N. Mehta (CPA, CGMA), Chair of the American Institute of CPAs (AICPA) and Chair of the Association of International Certified Professional Accountants (Association), for a two-day visit in October 2022. He encouraged and inspired business students and accountancy majors as he shared stories about why a degree in accountancy prepares students to lead businesses and innovate to face the challenges of the future.
Accountancy is a global profession
“We are not the best at telling our stories. Everyone knows accountants sometimes work long hours, but that’s true in any profession,” said Mehta. Speaking to business students, he explained how accountancy is a truly global profession, crossing not only geographic boundaries but also industries. “We can align our careers to whatever field we’re most passionate about—I worked with rocket scientists and sat down to lunch with a Nobel laureate in Physics,” he added, speaking of his 41-year tenure at Science Systems and Applications, Inc. (SSAI).
The opportunities are endless in accounting, he stated. “A CPA is a foundation to enable you to do what you want to do, regardless of your changing interests.”
Accountants take the lead with technology
As technology continues to impact business processes, companies increasingly rely on accountants to advise them on technology implementation, controls, and especially, data ethics. “When it comes to issues of trust, we’re the right people to deliver that,” Mehta said. “These challenges require accountants to innovate and figure out new ways of doing things.”
Accountants will drive the ESG revolution
Environmental, social, and governance (ESG) is a “space we can own in the future,” according to Mehta. Accountants can translate this nonfinancial data into financial terms so stakeholders can make the right decisions. “We’re in the right profession to evaluate and report on ESG matters,” he stressed. In fact, the AICPA’s goal is to have zero emission by 2030. Mehta expressed his great personal interest in how we reduce our carbon emissions, which has developed while working with earth and space scientists over his career.
The AICPA serves and protects accountants
Mehta spoke about the role of the AICPA in the accountancy profession, which includes maintaining ethical standards and the integrity of the profession, advocacy to protect the profession from detrimental regulation, and supporting members to have the resources to serve their clients in the best possible way—not just public accountants, but those who serve in industry.
Trust is paramount in accounting, and Mehta stressed the need to hold its members accountable. “We all have to be accountable for our own actions, and that’s how we can move accounting forward.” Speaking to students, he added, “It starts at your age, how do you show integrity? If no one’s watching, will you do the right thing?”
The AICPA maintains a presence in Washington to advise lawmakers and advocate for the industry, especially when regulations change or new situations arise, such as the COVID-19 pandemic. Accountants were instrumental in saving businesses during the pandemic, according to Mehta. He described how the AICPA interacted with the governing bodies, including the IRS, providing feedback on developing the appropriate forms and procedures for PPP loans. This enabled the AICPA to also support its members, who in turn helped businesses process their PPP loans and adjust strategies in response to the shutdowns. “I have never been more proud of the profession than in the last two years,” he added.
Mehta plans to focus on increasing diversity both within the AICPA and the accounting profession. He stressed that we can do better, citing that only 15% of AICPA membership comes from underrepresented populations. Mehta is the only second AICPA chair to come from an underrepresented minority group in the 135 years of AICPA history.
Dr. Anne Farrell, Interim Chair of the Department of Accountancy, noted that between his visits to several classes, small group meetings with students, and a talk in Taylor Auditorium, Mehta reached upwards of 900 FSB students. “I’ve known Anoop for many years. Before his visit, I told many people that Anoop is one of the most gracious and engaging people I’ve ever met. After his visit, they told me I was right! His engrossing career journey, his passionate descriptions of all the doors that an accountancy degree and CPA credential open, and his commitment to making the profession a place where students and professionals of all backgrounds can find a home was inspiring to everyone in the Farmer School community. As Anoop likes to say, “It’s a great day to be a CPA!”
Mehta ended his visit with a “Fireside Chat” at Taylor auditorium. He shared many tidbits about his formative years and personal journey.
- His family immigrated to the US when he was 12 years old, “a puny little kid.” He got into wrestling (eventually earning black belt in Tae kwon do, and starting a martial arts academy). Of their family’s move to the US, precipitated by chance meeting with the US Consul in Tanzania, he said, “You never know what opportunities get presented to you at which time.”
- He had difficulties passing the CPA exam after graduation (calling himself an “average student”). He gave it up for a while, and finally decided to retake it when he was 30 (with urging from his wife and dad, who is a lifelong accountant). On Feb. 3, 1991, he was able to claim “those three letters that made everyone look at me in a different light.”
- Mehta joined SSAI when it was a 2-person company while in college. It grew to 75 people upon graduation, and he was finance manager at the time. He became CEO in 2015, and grew the 500+ employee, <100 M$ company to a 1000+ employee company worth about ~250M$. SSAI provides services to NASA and NOAA.
- Currently he is the Chief Strategist for Analytical Mechanics Associates, Inc. (AMA), a company in the space technology field.
- The best piece of advice he ever received was from his dad: “Live within your means.”