The growth in international business has brought numerous changes – and challenges – to the accounting, finance and audit professions. Businesses are adapting to a more global, culturally diverse workforce, one that is increasingly distributed around the world.
North American financial professionals, especially those in the United States, also face the need to learn new skill sets to keep pace with professional changes spurred by globalization, such as the rapidly occurring migration to principles-based accounting standards and fair-value measurements, the increasing shift toward enhanced business reporting and the growing acceptance of eXtensible Business Reporting Language (XBRL).
International Talent Puzzle
Although North America is experiencing shortages of highly skilled financial professionals in some specialties, council members from the United States said their organizations are not commonly recruiting candidates on a global basis.
But council members said the urgent need for professionals with the right skills – wherever they may be located – may drive more businesses to seek talent globally in the years ahead. The desire to have a more diverse, multicultural workforce that reflects the global nature of business today also might be a reason to hire outside the United States.
