Before ascending the heights by becoming CEO of the country's fifth largest accounting firm, Wayne Berson did so by flying planes with his father, who was a pilot.
When his eyesight prevented him from achieving his dream of joining the South African Air Force, Berson decided to become an accountant because he's always been gifted in mathematics. But later, he found out that the profession actually goes beyond numbers, and that a lot of his flying skills were transferable to the discipline, including the need to lean into preparation and take calculated risks in times of disruption.
Berson learned about leadership by becoming a team captain in almost every sport he played, from cricket and rugby to soccer, and finding enjoyment in getting people to achieve a common goal. He finds particular satisfaction in helping others do something they don't necessarily believe they can do, which is why he always wanted to bring his leadership abilities to the workplace. And it's clearly working: In November 2022, Berson was reelected CEO for a fourth term after a 10-year successful tenure.
"My early recollection is Wayne as an exceptional leader of people and an outstanding practitioner with excellent technical audit and accounting skills, along with a relentless focus on client service," said Bill Eisig, BDO national managing partner of assurance, whom Berson hired as an audit senior in 1994. "I'm always impressed by Wayne's desire to push the boundaries of what is possible, both for our people and our clients."
After going through a strategic planning exercise, in 2012 Berson's team designed what he considers the firm's roadmap to the future — the CLIMB framework, which was his first accomplishment as CEO.
CLIMB stands for:
- Culture and unity;
- Leadership and accountability;
- Innovation;
- Market prominence and expansion; and,
- Best in class.
The acronym implies that one needs to follow all the steps in order to become best in class, because a leader cannot help clients find new business if they don't have proper foundations. This plan is updated every three years and is one of the initiatives Berson is most proud of, because it brought people together to "bring the firm into the 21st century."
"It's a very exciting time to be a leader in our profession, and I think the opportunity that we have to advise our clients across a wide range of disciplines is truly limitless," said Berson. "In addition, with new technologies and talent well-versed in creative problem-solving, we're continually finding new ways to approach our core service and offer better outcomes for our clients."
Berson believes that changes within the accounting profession have been inspiring a new generation of candidates to come in and help the firm rethink how it's been operating. As a result, he said, creating opportunities beyond the traditional accounting career is not only shaping the future of business at BDO, but also in other firms around America across multiple practices. Firms should not be reluctant to explore new sets of skills and profiles because they will "only make them better," and Berson said that embracing change has always been part of the profession.
He thinks that every accounting firm also needs to be a technology company to foster innovation, think outside of the box and avoid falling behind. Berson himself has an executive team of seven people who advise him on key decisions, and an advisory council made up of non-partners across all levels, whose main task is to relay what the masses are saying. What are people interested in these days? What do they think of the policies that the firm recently put out? In other words, relying on constant feedback and being open to change is what allows him to remain in touch with what BDO truly needs.
"I like Einstein's definition of insanity, which is doing the same thing over and over again and expecting a different answer," said Berson. "You can't force someone to do something your way, because you've got to understand their methods and perspective first, and ask them why they think it's better. Only then can you try and find a meeting of the minds to create something truly interesting."
International lessons
Growing up in South Africa during the apartheid era taught him a lot about the importance of inclusion, something that he aims to do through diversity, equity and inclusion efforts across BDO USA. Berson says that many employees with an international background tend to relate to him because he was able to adapt to the United States after starting off his career in a smaller country, and because of his mixed American and South African ancestry.
Throughout his career, he noted that some foreign partners were initially hesitant to do business with the firm because many people see them as "big, bad, ugly Americans" who try to impose their vision on others. Consequently, Berson now applies a piece of advice that he received from Nelson Mandela himself — who his father flew from Cape Town to Johannesburg the day he got released from prison.
"I served on one of Bill Gates's charities that Mandela was the chair of, and as we were talking, I showed him the picture of him and my dad on the plane," said Berson. "Then we started talking about leadership and he said: 'Always try to get someone to do what you want them to do, then keep quiet. Let them take the credit and don't say it was your idea, because eventually, everyone will know it was yours.' And I think this feedback approach has helped me immensely on my way to becoming CEO."
It also helped him create a uniform international culture, which Berson said is achievable by operating in unison with the entire team. At BDO, relying on other people to do different parts of an engagement makes it essential to be cooperative and interested in hearing the voices of others. Berson said that including people from underrepresented backgrounds in the conversation "gives them oxygen" and allows them to open up, because the firm has demonstrated that it values their opinion.
He believes the firm has greatly benefited from increased diversity efforts, and he attributes the most impactful changes to the firm's chief DEI officer, Bernadette Pieters, whom he said has a unique approach to mentorship. She inspired him to rethink his own understanding of diversity in terms of close relationships, vulnerability, intentional connections-building, shared motivations and meeting people where they are, which are values that Berson wants to be key parts of the firm's culture.
"Too often I find leaders don't really connect with their staff, and while I can't meet every single person, I find it the most enjoyable part of my job to go out and meet with the team," said Berson. "I think doing that really shows that I care about the situation, and when I see distasteful things happening around the world, I want to give them an opportunity to be heard, because sharing what's going on in your mind sometimes helps you get through it."
However, serving as the chair of the global board of directors of a firm that employs over 100,000 people around the world can be challenging. Berson recently sat with the seven members of BDO International, who represent the largest BDO member firms, to discuss a financial issue, but as he was proposing alternatives to resolve it, a Chinese member told him: "You have to realize that I am a communist, not a capitalist," which shows that when bringing people together with vastly different beliefs and attitudes, trying to see through someone else's eyes is critical to creating a sustainable relationship.
Berson said this need to listen to others and understand their goals is what drives him when he gives accounting and management lectures to various organizations, such as the American Institute of CPAs or the American Society of Association Executives. During the current talent shortage, he said it's more critical than ever to learn how to take the best of oneself to help prospective accountants truly take advantage of the many benefits offered by the discipline.
BDO USA, which employs over 12,000 people, has embraced the mantra "
From $1 a day to $2.8 billion
Berson knows a thing or two about struggling financially, as he and his wife found themselves in a difficult situation when they first moved to America.
Newly wed and working in Washington, D.C., Berson got a call months after applying for a green card to learn that they filled out the wrong box on his work visa, making it technically illegal for him to stay in the country until his documentation was in order.
Obligated to get a stamp from the nearest consulate and unable to take a plane without risking getting stuck, Berson and his wife drove 16 hours to Quebec, before going back to Washington. After that, neither of them were allowed to earn any income for three months and while they continued working, their employers could not pay them.
"So I went to McDonald's every single day. And for $1, I got a burger, I got fries, I got a Coke, and a penny in change every single day for three months," recalled Berson. "I was an international chess player when I was in South Africa, so I also went to the park and hustled for money. That was probably the hardest time for both my wife and I in our married life, but we kept pushing and made it through."
From these trying times, however, Berson gained a new appreciation for what he had and what he could accomplish if he had enough dedication. He used his newfound confidence to run his first marathon, and he relied on it again when he first got elected as CEO of the firm to reflect values he deems to be extremely important. According to Berson, it's this nurturing environment, as well as the CLIMB strategic plan, that allowed the firm to continuously grow since his investiture in 2012.
BDO USA has grown from $600 million to $2.8 billion over the last 10 years, with only 39% of that resulting from mergers and acquisitions. To explain these results, Berson goes back to the M of CLIMB, which emphasizes the importance of choosing the right areas to invest in to create growth and bringing in smaller firms that can add to the firm's area of expertise. Additionally, Berson said that BDO has a "no jerks" policy, which promotes the development of empathetic leadership and conflict management policies.
"If I had to change anything in my career, I wish I learned more from my co-workers, because I believe that people, at their core, are open to teaching," said Berson. "Each part of one's life is a stepping stone to learn a new element about your work and yourself, and that's why when I entered my role as CEO, my leadership team and I spoke with people across all levels to get a pulse on what they wanted from the organization. Learning about the needs and insights of the wider firm is what made our CLIMB strategy so successful."
Before he started working at BDO USA as a partner in 2001, Berson worked in a local accounting firm where he met his mentor, chairman Andrew Lang, who taught him everything he knows about leading a conversation. He said that accompanying Lang to meetings showed him what to do when a client puts him in a difficult situation, because Lang would always take in their questions before answering them. He sought "to understand before being understood," and after summarizing what their clients were looking for, Lang would ask if he was correct before giving out his recommendations.
From these lessons and what he learned from others, Berson wants to lead the firm into the future, which includes putting sustainability at the top of his strategic agenda. This year, BDO
"By investing in the strength of our culture, the resilience of our business and the future of our planet, we will continue to serve our clients to be able to care for our people and help drive equity well into the future," said Berson. "It's about doing our part to make a positive impact and be a force for change to lead with purpose, hold ourselves accountable and, obviously, prioritizing long-term stability over short-term financial rewards. I love a challenge and that's the best part of the job — to hear what supposedly can't be done, and then going out and doing it."
At a Glance: Wayne Berson
- Where did you go to college? University of Cape Town
- Where did you grow up? Cape Town, South Africa
- Where did you begin your career in accounting? Audit staff at Mazars (in Cape Town)
- Where and when did you first make partner? Lang Group, 1995
- What is something that people may not know about you? I am a chess player and marathon runner
- Who is someone you admire? Cathy Moy, BDO's chief people officer
- Favorite book: Team of Rivals: The Political Genius of Abraham Lincoln
This is an installment of
