COVER STORY
2022 Forecast : New Jersey CEOs Offer Their Insights , Predictions
How will 2022 be different ? Will industries reinvent their go-to-market strategies ?
Compiled by Miles Z . Epstein Editor , COMMERCE
During the pandemic , handshakes , business lunches , on-site teaming , hugs and in-person meetings were replaced by social distancing , face masks , Zoom meetings and work-from-home arrangements . Business as usual has only partially returned , with some in-person meetings and a combination of COVID‐19-driven workplace adaptations that are reshaping the new normal . How will 2022 be different ? COMMERCE asked many of New Jersey top business leaders to offer their predictions for 2022 , and here are their insights , observations and analyses . These 90 CEOs offer a valuable “ peek ” into the year ahead .
ACCOUNTING
Citrin Cooperman Alex Serrano , CPA , Managing Partner , New Jersey Office
Artificial intelligence and a remote workforce are shaping the future of our industry , with clear trends emerging . Accounting firms are facing a candidate-driven market . Managing a remote workforce requires adopting a new business culture and investing in new tools and processes . With excellence in client service being a top priority , finding employees who are a good fit for the commitment required is key .
Eisner Advisory Group Diane Wasser , CPA , Partner-in-Charge of NJ
I envision continued growth in business consulting services including outsourced accounting , finance and HR along with data security , forensic accounting and so forth . Our environmental , social and corporate governance offerings will grow considerably . Lastly , I ’ m hopeful we ’ ll see a steady rise in in-person conferences and events along with increased balance and certainty regarding how and where we work .
Goldstein Lieberman & Company LLC . Phillip E . Goldstein , CPA , CEO
The main issues that will affect our profession and our firm this year are politics ; mergers and acquisitions ; automation ; and a shortage of CPAs . These issues will continue to shape the accounting industry in general , and our firm in particular , in 2022 . The ever-changing political environment will keep our focus on tax changes and how they affect our clients . Automation will enable us to spend even more time providing expert business advice . Our firm will continue to grow in the future as we merge with and / or acquire firms . While the industry overall may experience a shortage of CPAs , we will attract and retain the best and brightest due to our eight-decade long reputation of predicting challenges so that we can help clients meet , overcome and prosper in spite of them .
Grassi Ted A . Carnevale , CPA , MST , AEP , Partner , Co‐Leader of NJ Market
In the accounting industry , all eyes are on the pending tax proposals making their way through Washington . If passed , the legislation will bring the most significant changes since the Tax Cuts and Jobs Act of 2017 . High-net-worth individuals , in particular , will be impacted , and their tax , trust and estate , and investment strategies will all need to be reassessed .
Klatzkin Thomas H . Martin , CPA , Managing Partner
Accounting firms will need to be creative to address the shrinking pool of mid-level accountants . All firms will need to utilize available technologies to automate certain functions fully . In addition , firms will need to use non-accounting staff to do functions historically handled by accounting professionals . Finally , it will be essential to maximize the time accounting professionals spend on client service .
Levine Jacobs & Co ., LLC Charles F . Ott , MBA , CPA , Managing Member
Artificial Intelligence is revolutionizing modern accounting .
Photo : Getty Images / iStockphoto / iLexx
The pandemic has made many companies reimagine how they do business , and the accounting industry is no exception . Developing quality personnel and the effectiveness of a firm to build a cohesive team-first organization may very well dictate long-term success . Government oversight of office conditions along with changes employees are looking for
Continued On Page 10
8 COMMERCE www . commercemagnj . com