5 Essential Skills for Aspiring Leaders

By Sean P. Breheney, CPA, MBA, SAX LLP – March 4, 2025

Inspiration. Integrity. Self-awareness. Respect. Compassion. Resilience. These are all common qualities we think of when determining what a successful leader looks like in our current professional environment.

For aspiring leaders within the accounting industry, the logical next question is: How does that translate into skills I need to become a successful leader in my company? While some may claim that the CPA designation alone signifies the presence of leadership ability, it is still vitally important for those who hold such a designation to strive to elevate their way of thinking, continue to develop their leadership skills and truly set themselves apart from their peers.

The accounting profession offers a plethora of opportunities for developmental professional and personal growth. The landscape of accounting is perpetually changing requiring not just technical skills but also well-honed interpersonal skills and established leadership capabilities. Following are the essential skills needed to become an effective leader and ways to create opportunities for leadership within your organization.

1. Effective Communication

Leadership is essentially a social process. Every aspect of successful leadership involves, in one way or another, effective communication. This means more than just being articulate; it involves being a good listener, providing constructive feedback and adapting one’s own personal communication style to their target audience. In other words, it requires an adequate level of emotional intelligence.

Accountants are often required to actively interact with clients/customers and direct reports and team members, as well as stakeholders who may not necessarily be well versed in the accounting-speak that most well-trained CPAs are fluent in. The ability to simplify complex concepts into understandable terms is critical to the development of the emotional intelligence and effective communication professionals need to become successful leaders.

2. Problem Solving and Critical Thinking

Aspiring leaders will inevitably face a number of challenges that will require quick thinking. Developing well-honed problem-solving skills and enhancing your ability to think critically are vital if your goal is to deliver in an effective manner. This often means analyzing complex financial scenarios as well as their resulting regulatory implications in order to make informed, timely decisions. You may not always have the correct answer at a moment s notice; this is where learning agility comes into the picture knowing how to learn, or the ability to know what to do when you don t know what to do. It’s about being proactive, seeking out new and diverse experiences, spotting potential issues and internalizing the lessons learned from them. Great leaders, even within the world of accounting, are great learners.

3. Adaptability

Improvise. Adapt. Overcome. This well-worn mantra can also be applied to the accounting profession. It is constantly changing due to new regulations, technologies and ever-evolving client/company needs. An effective leader must be adaptable and open to change at all times —one never needs to get ready if they are always ready. This means maintaining a habit of continual learning and forward thinking, anticipating and staying informed about industry trends, embracing technological changes, and being willing to shift approaches when necessary. Fostering a culture of adaptability and learning agility for yourself and your team will ensure greater relevance within the industry as compared to those who are resistant to change.

4. Expectation Management

The art of managing expectations also sometimes synonymous with the concept of relationship management is a vital skill to be developed for CPAs who aspire to enter the ranks of their company s leadership. It encompasses many different soft skills and is difficult for many professionals to master. Nevertheless, it is an unavoidable skill to develop for those who wish to set themselves apart as true leaders.

The management of expectations is relevant when dealing with clients/customers, potential clients and staff of all levels, as well as peers. Key aspects of expectation management involve clear communication at the outset, cultivating a client/customer-centric approach, proactively communicating with transparency and honesty, and building trust through consistently showcased integrity by doing what you say you re going to do, when you say you re going to do it by. A CPA who is able to manage expectations will place themselves ahead of many of their peers.

5. Mentorship and Coaching

CPA leaders are only as good as the experiences, insights, knowledge and skills that they are effectively able to pass down to the next generation of potential leaders. The ability for CPA leaders to effectively mentor the next generation contributes to their firm s or company s long-term success and creates a sustainable legacy that may very well weather the test of time.

Being a leader isn’t just about directing others; it’s also about appropriately nurturing the talent that currently exists within the company. As aspiring leaders look to grow within their own organizations, it is important for them to look for ways to help those coming up behind them to develop their own soft and technical skills. This could involve mentoring new hires, sharing knowledge and experiences through workshops, or implementing company-wide coaching initiatives. The greatest contribution aspiring leaders can make to their organizations and their industry as a whole is to pass on the wealth of knowledge and experience they have amassed to ensure continuation of the legacy they have worked so hard to create for themselves.

Creating Leadership Opportunities

Opportunities for staff to enter leadership or develop their own key leadership skillsets will not always be readily provided to them. Aspiring CPA leaders can utilize the following tips to maximize their opportunities when seeking to enter leadership:

Be self-aware. Self-awareness and understanding personal strengths and weaknesses are vital skills for aspiring leaders to assess what they're able to leverage as well as what they need to improve upon.

Be consistent with professional development. Professional development is a core element of what allows accounting professionals to stay relevant in an industry that is perpetually evolving.

Seek out mentorship opportunities. The greatest gift an aspiring CPA leader can receive is the experience and insight of those who have come before them. Actively seek out those current leaders and listen closely.

Always challenge yourself. If you're not learning, you're not growing. Being willing and able to consistently take on complex tasks will show current leadership the level of versatility that you are looking to achieve.

Always seek to develop your communication skills. Clear, proactive and well-managed communication is at the heart of making yourself a well-rounded, sought-after leader. Continuously find ways to enhance this skill through webinars, seminars and other forms of professional development.

Network. Establishing yourself as a professional, communicator and thought leader will go a long way towards establishing exposure for yourself within your organizations as well as the accounting profession as a whole. Involve yourself with professional accounting organizations as well as industry-specific organizations to make yourself known to current leadership.