Simon Bittlestone, FCMA, CGMA, wants more management accountants to embrace the emerging education and training in artificial intelligence (AI), data analytics, and sustainability. He’s deeply passionate about how these areas can further the profession’s value and attract the next generation of accountants.
Bittlestone stepped into his new role as the 91st CIMA president and chair of the Association of International Certified Professional Accountants, representing AICPA & CIMA members, in June.
“I’d be delighted if in ten years’ time people saw the accounting profession as having fundamentally helped businesses transform models [and helped] the world achieve more sustainable practices, and [accountants] continue to be the strategic minds that guide future performance in businesses,” Bittlestone said in an interview with FM magazine.
The bulk of Bittlestone’s career has been in the technology sector, specifically data analytics, but he saw value in growing his business acumen early on. This curiosity and thirst for continued education led Bittlestone to become a CIMA member in 2009 and then a CGMA designation holder.
“I wanted to understand business models and how they’re reflected in the financial accounts,” Bittlestone said.
His platform for the year ahead is derived from his passion for education and will focus on three key areas: innovation and transformation within the finance function; value and sustainability — how accounting and finance professionals facilitate sustainable value creation; and promoting inclusion and opportunity to attract the next generation of management accountants.
Bittlestone — together with AICPA’s Chair and Association Co-Chair Carla McCall, CPA, CGMA — will build on the work of CIMA Immediate Past President Sarah Ghosh, FCMA, CGMA, and AICPA Immediate Past Chair Okorie Ramsey, CPA, CGMA.
Increasing value with analytics and AI
Analytics and AI are two areas the accounting profession is grappling with, said Bittlestone, who is a non-executive director at a London and New York-based financial analysis company. He said these technologies should be fully harnessed.
As finance professionals have access to troves of financial and nonfinancial data, combining finance expertise with data analysis can prepare accountants for a more data-centric future.
“There are a lot of things accountants won’t need to do as a result of these tools, and this is true of other professions and industries,” Bittlestone said. “We [at AICPA & CIMA] can help accountants understand that and the opportunities they bring.”
Classic finance processes such as procure to pay, consolidation and close, and reporting could likely be automated in the next five years. After that, Bittlestone predicts automated audits and augmented reality simulators as an educational tool. “Your opportunity to retrain is endless, and you can move up the value chain. Now you can do even more interesting work, harnessing the benefits of AI,” he added.
But not all organisations and leaders may be ready to embrace that emerging technology. To do so, he suggests leaders start small, remain goal-oriented to address specific pain points, and foster cross-functional teams.
Analytical tools and AI programs will not replace management accountants — human judgement and communication are still needed, he said. These tools, however, provide invaluable chances to raise efficiency and productivity at every level of someone’s accounting career — from earning the CGMA designation to becoming a finance leader.
“Accountants don’t have to be the experts at applying AI. They will probably never be,” Bittlestone said. “But they should be the experts on knowing what matters [to the business], what are the business goals, and where an organisation should start.”
ESG regulatory knowledge
Consumers have an increased desire for transparency around an organisation’s sustainability initiatives, but trust is currently lacking. Accountants, Bittlestone believes, can build back that trust through the creation of accurate, consistent, and comparable sustainability-related financial disclosures.
Management accountants are already familiar with environmental, social, and governance (ESG) data and standards, but they may want to grow their knowledge of regulatory standards, such as the European Sustainability Reporting Standards (ESRS). Companies subject to the EU’s Corporate Sustainability Reporting Directive (CSRD) are required to report according to the ESRS. CSRD affects an estimated 50,000 EU-based organisations, although there is a phased-in approach through 2029.
“The profession has the chance to take this space and become the trusted guardian of ESG performance in the way we are with financial performance,” Bittlestone said. “One of the biggest challenges in ESG is balancing ESG performance with short-term financial performance, and accountants already help manage the latter.” And that’s where new value creation lies, he said.
Bittlestone urges management accountants to be proactive. The pillars of ESG provide many growth and leadership opportunities where management accountants can lead sustainability-related discussions and decision-making efforts — instead of being reactive to legislation and regulation. A holistic approach will help management accountants address the three pillars of ESG equally.
“It starts with really understanding all the different risks and opportunities across ESG, interacting with all the stakeholders [who] matter, and compiling a sensible plan that starts with board sponsorship. Done the right way, this can have huge opportunities for the business,” Bittlestone suggested.
Bittlestone is proud of the sustainability-related resources and education opportunities provided to AICPA & CIMA members, including the online ESG and Sustainable Financial Strategy Course, through Oxford University and AICPA & CIMA, and the modules of the Introduction to the European Sustainability Reporting Standards course launched by AICPA & CIMA and PwC in May.
“You can massively improve your base knowledge of this area, and you’ll be left with a toolkit that will help companies,” Bittlestone said. “Accountants will be seen as the people who have transformed businesses and helped achieve sustainable societies. That’s what accountants should be seen as and not just people who make sure everything adds up.”
CGMA designation: A bridge for the next generation
Members of Generation Z, those born between 1997 and 2012, are increasingly becoming part of the workforce. This generation fascinates Bittlestone: The older members of Gen Z are incredibly purpose-driven, with a deep understanding of how their actions affect their communities and the world at large.
“They are going to be the biggest generation in our workforce in 20 years’ time, and we should be doing things right now that support that, not to continue to take advantage of that,” he said, and that includes rebranding the profession to make it more aligned with their values.
“If we were clearer that our profession is here to promote trust, sustainability, and value creation and that the skills and experience it provides are a platform for many different careers, we would have a lot more interest,” Bittlestone explained.
During her tenure as CIMA president in 2023–2024, Immediate Past President Ghosh made inclusivity a priority, and Bittlestone wants to further that effort by tapping into the potential of Gen Z across the world. “I want to continue to build on the great work Sarah has done on inclusion, not just for women in the profession, where I think Sarah has had an especially big impact, but particularly also for less privileged people and in emerging markets.”
Increased promotion and marketing of the CGMA designation could be the bridge to reach more diverse talent pools. Whilst various pathways to earning the designation exist, Bittlestone wants to identify ongoing barriers to entry and find solutions.
“Our [designation] changes lives,” he said. “But it’s important [the designation] does not just change the lives of those who can afford it, but that we reduce the barriers to entry for those who are less fortunate too.”
— Jamie Roessner is a senior content writer at AICPA & CIMA, together as the Association of International Certified Professional Accountants. To comment on this article, contact Oliver Rowe at Oliver.Rowe@aicpa-cima.com.