40 Under 40 Honoree: Shannon Vincent, CPA – 36

Education – BA Economics, UC Santa Barbara
Family – Wife Jackie
Hobbies & Interests – Snow skiing, hiking, music,
dogs and landscaping.
Professional Affiliations – California Society of CPAs;
Accounting Association of Marketing.

What peers, clients and friends say about Shannon:
Shannon is intense, smart, funny, honest and direct. He has provided strategic
business consulting to the CPA profession for 10+ years, most recently by starting
ReNew Group, which offers a web-based solution that enables accounting professionals
to systematically understand the business needs of their clients and prospects.
Shannon is a CPA and has a well-proven track record for helping accounting firms
grow their businesses.

What technology or business process does Shannon see affecting the
tax and accounting profession in the next five years?
“I believe the shortage of staff and lack of true succession plans will
be the impetus for an even stronger use of technology as a productivity tool.
Further, these factors will cause the outsourcing of tax and bookkeeping services
to become the norm as outsourcing will be a necessity for firms to compete (onshore
and offshore) and a way to deal with the staffing crisis. We will also see further
consolidation of firms by regional and large local firms as small firms lack
succession plans and they will not be able to compete with the opportunity and
compensation packages offered by larger firms for staff.”