BONUS | Dennis Whitney - CMA Exam and Certification

FULL EPISODE TRANSCRIPT
Mitch: (00:05)

Welcome back to Count Me In. I'm your host Mitch Roshong and this is IMA's podcast about all things affecting the accounting and finance world. For today's episode, we're going to take a look at the education that is impacted by our changing industry. As we hear Adam talk with Luke Harris, associate at PWC as he explains his recent accounting studies and the experiences he's found most helpful in entering the profession. Let's listen to their conversation now.

Adam: (00:37)

So I understand you studied international accounting and logistics globally. Can you tell us a little bit about where you studied and what the most interesting aspects were of accounting in each country?

Luke: (00:47)

So I first studied internationally in France as part of a one semester exchange program. I was based out of Rin just about two hours by train outside of Paris. And this afforded an abundance of opportunities both personally and academically. Knowing that there were international standards that varied from the generally accepted accounting principles, views in the United States. I was really interesting to me going into it. But after taking a variety of classes, I actually noticed how similar the two sets of standards really are and how much they're converging with recent standards updates. For instance, the revenue recognition standards and the least standard, both of these making gap more principles based to align with Ivers, which has historically been more principles based. I noticed that with logistics. I believe that my greatest aha moment was realizing no matter how small of a business you going to be are if not directly connected to the global network of trade. You are more than likely just only once removed from multinational firm, whether upstream from a supplier or downstream through or consumer of your product or service. And that was really big for me, realizing that there's really no way to avoid the global effects of currency fluctuation, cyber risks, sustainability and economic and political environments, which of course necessitates a many ways in which we can hedge those risks, which I find really interesting. I later studied logistics and Chile, which was remarkable physically speaking, just seeing the port in Valparaiso, the only major port in the whole country was incredible, but then learning the political and economic past and the influence that the U S and other countries have had in affecting their economic system was just amazing.

Adam: (02:32)

So I've read you've done some research in cyber warfare. How have you been able to connect your international business studies to what you've learned about cybersecurity needs?

Luke: (02:43)

Good question. My main takeaway from my research and studies is that this is an area anyone working on any sort of network I should feel competent with. And I mean anything. If you check your emails, convinced an online ordering, utilize any cloud computing, this is something you need to be familiar with. And somehow we think as the cloud gets more pervasive, it gets safer, right? As it gets larger, it gets safer as if there is a security in numbers that somehow more users make it safer. But when you think about it, that rationale is flawed. When I am using, say, Amazon web services, whether directly or indirectly through my school or work, I am opening myself up to a field of over 1 million users. And of course I'm relying on both the provider and servicer for adequate separation controls. And, uh, let's say if modern ground transportation, puts the country at our fingertips, it's the online web and cloud computing that have put the world at our fingertips. Now, the unfortunate side to this, the other side of this is that it has put us in our organizations within reach of bad cyber actors across the world, right? So that can be really intimidating knowing that really any bad cyber actor from around the world could potentially access my data if it's not properly secured. Your complication with mini servicers can also cause problems with cyber warfare specifically? I was shocked to find the ability and motivation by many nation States, uh, to disrupt multinational corporations. And if you look at the major cyber attacks happening in the past few years, many perpetrators were in nation States. But at the same time, it's almost as if many MNCs have placed the concept into sort of a buzzword box and not fully grasp the gravity of the issue at hand. Secondly, if studying cybersecurity, I believe it is very important to not limit your research to your country of business even if you don't have international dealing because you again are more than likely just once removed from an a multinational corporation and you do have international exposure if you are on any sort of publi...