The evolving role of the accountant

By Brent Szalay FCPA
Founder & Strategic Advisory – Leaders in Business
Managing Director – SEIVA Advisory

Accountants have one of the most privileged positions in business.

But the value of an accountant isn't in the financial statements.

It's in their ability to connect what the numbers are saying with what the business owner wants next.

We get to see what's really going on under the hood of a business. Not just financially, but personally.

We don't just see numbers. We see the people behind them. We see businesses through the good years and tough ones. We see decisions play out over time. We see what works, what doesn't and, often, what's coming next long before anyone else does.

Clients trust us with more than their tax. They trust us with their business, their worries, their plans and, sometimes, the things they won't tell anyone else.

Very few professions get that level of trust and insight.

So, here's the question.

Are we making the most of one of the most privileged positions in business?

Are we having the conversations our clients need us to have?

A change in engagement

Too often, we wait for the client to ask the question.

• "Should I buy this business?"
• "Can I afford another staff member?"
• "I need finance."

Then we do what accountants have always done so well—we solve the problem.

There will always be a place for that. But strategic advisory changes the conversation.

Instead of immediately looking for the answer, it starts by asking more questions.

It digs. It listens. It understands before it solves. 

• Where are you trying to get to?
• What do you actually want from the next 12 months?
• Are you chasing growth, or more time with your family?
• Is this business building wealth, freedom, or simply creating another job?

That's the real engagement shift. Strategic advisory isn't about having better answers.

It's about understanding the business owners personal destination before offering directions.

The Advisory Gap

I believe many firms want to be advisory led – I’ve had conversation with hundreds of accounting firms around Australia — all wanting a stronger advisory offering.

The belief is there. The challenge is making it happen. The reality is that most accounting firms are already giving advice every single day.

We answer questions about cash flow, finance, staffing, pricing, business structures and growth. The advice is valuable, and clients rely on it.

The difference is that most of it happens on the client's terms.

• The phone rings.
• An email lands.
• A client asks a question.
• The accountant solves the problem.
• That's reactive advice.

Strategic advisory creates the conversation before the client knows which question to ask. Instead of solving today's problem, it helps uncover tomorrow's opportunities.

It's a subtle change. But it completely changes the engagement with your client.

Another challenge is that, in many firms, advisory lives with one or two people.

It's the partner who's been doing it for 25 years. Or the senior manager who's brilliant with clients. Great advisory often lives in the heads of great accountants.

That's why it stays with partners. That's why younger accountants struggle to learn it.

That's why firms can't scale it. Then there's the reality of running an accounting firm.

Compliance deadlines don't stop. Clients still need looking after. Teams are stretched. Capacity is tight. Everyone agrees advisory is important. It just keeps getting pushed to next quarter. Then next quarter becomes next year. Not because firms don't believe in it. Because they're busy delivering today.

The Shift

I believe the firms that will lead the next chapter of the profession won't simply be the firms that offer advisory as another service. It will be firms that change the entire way they engage with clients. The firms that don't just report where a business has been—but help owners decide where they're going. The firms that make the biggest difference won't necessarily know more than everyone else.

They'll simply engage differently.

Want to know where your firms at?

If you've ever wondered where your own firm sits on that journey, we've created a short Advisory Readiness Quiz.

It takes just a few minutes to complete and will highlight your strengths, uncover the gaps and help you identify the next step towards building a more strategic advisory offering.

CA ANZ members get more, enrol with Leaders in Business and receive a 10% discount. CA ANZ discount code LIB10CA.

Explore the CA ANZ AI education range

As the profession continues to embrace AI, building your capability today can help create capacity for more strategic, advisory-focused client conversations. CA ANZ offers a range of practical AI learning opportunities, resources and credentials to help you build confidence, develop new skills and apply AI effectively in your everyday work