Get to know Pam Lilley

As a child, one of Pam Lilley’s biggest thrills was sitting behind her great-uncle’s big desk at the bank. Little wonder she knew – at the age of 12 – bean counting was for her. 

So, you’ve always wanted to be an accountant

For as long as I can remember I have always been interested in finance. It started with career days in elementary school and then after taking accounting courses in high school and university, I was dead set on being an accountant. I always had an analytical mind, so it was just a really good fit.

What is it about public accounting you like?

Being able to use that analytical skill set to help solve problems alongside my clients. When I try to describe what I do to my kids, I say I’m like a detective of numbers. You look at what’s there and see if there are any problems with it, and then you try to help your clients improve their situation so that their reporting is accurate and they can become more successful.

What do you enjoy most in your role?

I do enjoy the part of my job that is around uncovering issues and developing solutions to address them. But I would say it’s actually the people and relationship building I like most – the people I get to work with every day, the team of professionals here at MNP that I learn from and mentor, too, and, of course, working with a wide variety of clients. While there may be common themes, the problems we are solving together, and the discussions, are constantly changing and evolving. 

I’ve been able to work with lots of amazing companies across different industries over the past 20-plus years. And you know, when I step back and look at other careers, I'm just not sure I would have had those same opportunities if I had done something different. So, I'm really grateful for that. No two days are the same.

How have you seen the pandemic impact businesses?

I've seen the full spectrum, from clients who had to shut down or sell their business to clients who have been super successful and have found new sales channels they probably wouldn't have thought of if they weren't forced into this situation. The one constant over the past 18 months is companies needing to pause, reflect and change in some manner.

It has been interesting to see how some have reinvented themselves – their businesses will never look the same and that can be a good thing. 

Has the pandemic changed the number one piece of advice you give clients?

Now I would say be prepared, and specifically, be prepared for the unexpected. I think business owners have a better appreciation for the fact that you don’t really know what can happen tomorrow, but you can better prepare your company in some respects. Like having detailed plans in place for succession events, safeguarding your company’s assets from cyber attacks, or, being open to changes in how your employees will want to work in the future. Be proactive in protecting what’s important to your success.

Has the pandemic changed your approach to life?

You know, it has. It’s definitely opened my eyes to a number of things. We were on a call this morning about helping our clients through setting themselves up for retirement and estate planning, and I had to do some self reflection myself – I used to think ‘oh, I’ve got time,’ but really, who knows? I’ve started to think differently about my own family and making sure that we're set up for the future appropriately.

To learn more about how Pam can help your organization, contact Pam Lilley, CPA, CA, at 905.323.6010 or [email protected].