Karbon Excellence Awards Podcast

Karla Hourigan: We're on a mission, and
that's to unlock the good in business.

Twyla Verhelst, CPA: The Karbon Excellence
Awards recognize the accounting firms

that are raising the bar for the industry.

On this podcast, we ask leaders
of the winning firms a series

of questions about how they're
taking their firm's culture, client

experience, technology, and leadership

to the next level.

I'm your host, Twyla Verhelst,
and this is the 2025 Karbon

Excellence Awards podcast.

In March, 2020, at the height of the
pandemic, two firm leaders met in an

online community group for accountants.

From their friendship came the
opportunity to co-create their ideal firm.

A firm centered around making
an impact, working closely with

clients, and achieving wealth
that goes beyond the finances.

Now,

five years later, their firm MAD
Wealth is the 2025 Karbon Excellence

Award winner for sustainability
for the second year in a row.

And recently, MAD Wealth
became B Corp certified.

Today, I'm talking to one of
the Co-Founders, Karla Hourigan,

to discuss their approach.

Welcome, Karla.

Karla Hourigan: Hi there.

Thank you so much for having me.

Yes, I am the Co-Founder here at MAD
Wealth and we're on a mission, and

that's to unlock the good in business.

So, helping clients to become profitable,
but also sustainable and impactful.

Because I'm really passionate
about showing that businesses

can be a force for good.

And I'm excited to share a bit about
our journey, including that hot off

the press news, which is that we
did just become a certified B Corp.

Twyla Verhelst, CPA: Congratulations.

That's so fantastic.

I love hearing that and I know that
it's been a journey to get here, so

congratulations to you and your team.

Karla Hourigan: Thank you.

Twyla Verhelst, CPA: Let's dive in a
little bit further about your firm,

and I know that when you met your
Co-Founder, Amar Latif, you were

both running successful businesses.

But I also understand that what
really united you was your shared

values around helping business
owners live a life by design.

Your firm has now developed out of that.

For those who don't know, MAD
stands for "making a difference".

It's been said before that this
partnership about merging dreams, making

a difference, and building a legacy
is really what your firm is all about.

So, when and how does sustainability
become part of that mission?

Karla Hourigan: Yeah, so, we were.

We're founded on our values
because both Amar and myself

found that they really aligned.

And when it came to our core beliefs,
our attitudes, and even some of our

behaviors, I'd say that's the thing that
united us the most in the beginning.

In particular, this underlying
desire to do meaningful work.

And through this discovery we come to
realize quickly that we both viewed

wealth holistically and that we were
driven by this concept of the term

wealth moves beyond this sort of
narrative, that it's all about money.

And that profit alone isn't enough
of a gauge of success, and certainly

wasn't for us in our experience
in our previous businesses.

And that wealth holistically
encompasses this spectrum of resources

and capabilities that allow a person
or even a community to thrive.

There's nine key areas in which
holistic wealth kind of encompasses.

There's the obvious ones around
financial and physical health,

but one of those is in relation
to sustainability or environment.

And that is, um, the stewardship of
resources for future generations,

covering that access to nature, clean
air and sustainable surroundings.

So yeah, from the beginning,
sustainability was part of this equation

to naturally feed into our mission,
which is to inspire, empower, and

transform businesses to be profitable,
sustainable, and in impactful.

And we wanted MAD Wealth to lead the
way in showing business owners that

they also can thrive in all these areas
and make a difference in the world.

Twyla Verhelst, CPA: And on the heels
of those, when we're talking about

emissions, you've offset more than
150% of your emissions in the past

12 months at MAD Wealth, and everyone
on your team has taken fellowship

training to become an approved carbon—
now that's carbon with a C—an approved

carbon accounting practitioner.

So you're clearly really
committed to sustainability

in your day-to-day practices.

But that takes time and energy
and resources in and of itself.

So how do you stay committed to that
while actually running your firm?

Karla Hourigan: I guess we really
treat sustainability the same

way as that we treat accounting.

It's measurable, it's reportable,
and therefore it's improvable.

But it's like any other commitment,
um, in business or life.

It's less about that single burst
of motivation for us and more about

building the structures around
that that keep us anchored in

those times of when energy dips.

So that's what we've done.

We've built it into our workflows, and
it's not just extra work for us, it's how

we actually go about doing business and
embedding it into our business operations.

It's become this daily practice
and therefore we can keep

making those 1% improvements.

We like to say that one
plus one equals magic.

And so, over time, we're able to actually
create and make some real change.

So for us, MAD Wealth, um, sustainability
isn't just one person's responsibility.

We have built culture where we are in
it together and we do it as a team.

So my job is really to make sure that
we extend the team or everybody within

our surroundings, the resources, the
time, the education and feedback

mechanisms so that everyone's enabled
to contribute to sustainability.

And again, it's not for us, it's just
about leading the way for other business

owners to show them what's possible.

And focusing on progress, not
perfection is the key for us.

Twyla Verhelst, CPA: Inside of that,
you know, that journey that you've

been on to really embed this inside
of your team and your workflows, I

understand that in the past year, you've
launched Carbon Accounting Services.

Again, that's Carbon with the C. Carbon
Accounting Services, and started embedding

it into your service plans for all your
clients, and you've conducted an emissions

benchmark pilot program to educate and

encourage your clients on their
own sustainability journeys.

Plus, also released an
annual carbon report.

And so, education seems to be an
important part of MAD Wealth's mission.

And you yourself believe in mentorship
as demonstrated with your participation

in Xero's Mentor Match program.

So tell us a bit more about why
you believe sharing knowledge

is so important for unlocking the
good in every business, and what's the

best way to deliver that to clients?

Karla Hourigan: I suppose this
taps into our mission, which is to

inspire, empower, and transform.

And one of the ways we do that is through
education, and as I mentioned before, the

term holistic wealth, one of those key
elements is about intellectual wealth.

So I often use a saying, you
don't know what you don't know.

But it is so true in the sense that
I believe part of our job is to

help others see their blind spots.

So for example, when a business owner
understands their own why behind what

they do, that's when the magic happens.

And MAD Wealth are living proof of that.

I believe that education is at the core
of driving real change, specifically

shared knowledge as it creates this
sort of ripple effect of inspiration and

empowerment, and it moves people from
just being curious into an action stage.

So that's why I think sharing knowledge
in particular is so important in

unlocking this good in every business.

And as you mentioned, our carbon
accounting pilot was a great example

of that because now it's just a
mainstream service at MAD Wealth.

We actually took action.

As far as the best way to deliver
this to clients, I think it's really

about understanding their way.

Everybody is different.

Ask them what way do you want to,
you know, consume knowledge or do

a survey or test different methods
and track the outcomes and gather

the feedback because so many options
out there for learning these days.

There's obvious things to, to kind
of undertake, like webinars or do

email blasts, but there's also really
unique ways that maybe help you stand

out from the crowd a little like our
pilot program that we mentioned, or

even more structured mentoring.

So, I would suggest that use the feedback
from your clients, hear what they have to

say and how they wanna obtain information
and then match their preferences up

with your own time and capabilities
and capacity to ensure that you develop

some sort of system of education
that you can deliver on regularly,

because you can't do everything.

Twyla Verhelst, CPA: Yeah, of course.

And such a great saying to have and
infuse through your team is the,

"You don't know what you don't
know," because generally we all

know something that somebody else
doesn't know, and we all don't know

something that somebody else does know.

So I love, love that
approach that you're taking.

So let's talk a little
bit more about MAD Impact.

From supporting female farmers
and entrepreneurs in Zimbabwe,

to your partnership with B1G1.

You're not just focused on doing good
for the planet, but also for people.

What's the link between humanitarian
causes, sustainability, and

running a successful firm?

Karla Hourigan: If we go back
again, I have to keep referencing

this idea of holistic wealth.

One of them is around legacy and
that is what you do for others.

But from a business perspective, we've
learned that doing good for people and

the planet actually makes our business
stronger, and that's the the point that we

sort of stand to and the message we share.

Our humanitarian projects remind us
that the accounting work that we do

every day isn't just about numbers.

It's about the people behind the
numbers, and it's about creating

possibilities for those people.

External to the services and the clients
that we work with directly, we're

able to expand that impact globally
through B1G1 where we provide direct

impacts to worthy causes globally.

And they're the things that
you mentioned around supporting

female farmers and entrepreneurs.

And our category in which we focus
on is about income generation, food,

wealth for generations to come and
that sustainable approach to income.

So by us doing it, it shows those
clients and businesses that they

also could be part of that solution.

Doing good has really strengthened our
culture and it leans to our purpose.

It does have an effect on the bottom
line because everything that you are

doing around this kind of, uh, the focus
point about purpose is the decisions

that you have to make in business.

You've got that at the heart and
it makes decision making much more

sort of simple and streamlined
and much more clarity around that.

So for us, impact drives engagement.

Our clients and our team feel way more
connected to something bigger than the

everyday grind of, of accounting work.

Twyla Verhelst, CPA: Yeah, what
a, what a purposeful firm and

culture you're creating there.

And, and I can only imagine how
much joy and real life people on

your team are putting into their
work, knowing that it goes beyond

just the understanding of finances.

It's having this massive ripple
effect, which is really powerful.

In celebration of MAD Wealth's anniversary
your firm shared this message, and

I'm gonna quote, "To all the dreamers
and doers out there, remember, it

starts with an idea, a conversation,
and the courage to make a difference.

What's your dream?

So my question to you,
Karla, is what's your dream?

What do you hope to see in the future
for yourself and for your firm and

for the entire accounting industry?

Karla Hourigan: That's a massive question.

I'm probably gonna start by mentioning
a quote by Richard Branson that said,

"If your dreams don't scare you,
they're too small." So I do believe

in dreaming big, and my big dream
really is, for wealth to be shared

amongst the many rather than the few.

Could you imagine that where, you know,
we eradicate poverty, some of the problems

that are based around wealth in all of
those nine areas, that, that is shared

equally and I think that's a big dream.

So it scares me 'cause I think, you know,
what can I do to contribute to that?

Is that ever gonna happen in my lifetime?

But it's something that I
think is really important.

But when it comes to business
specifically, I think that I dream

of a future where as a business,
that every business is good business.

It's not, it's not an outlier in, you
know, this, this social entrepreneurship,

social enterprises, not-for-profits.

The businesses that are
out there doing good work.

That it just becomes the norm.

So I think that's what I, I dream for one
day, that every business is a business for

good and that it's just called 'business'.

It's the fundamental core
of how businesses run.

Of the industry,

again, it leans to the same kind of theme.

But I think to make impact
accounting mainstream, not a niche.

So everyone that's providing
accounting services are creating

impact through sustainable,
profitable, and impactful businesses.

Our firm specifically, my dream
is to build a community of these

impact driven business owners.

And one of our goals actually is to
reach 1 million global impacts ourselves.

Uh, and so that's a it's sort
of north star, but I do see that

something that is very achievable.

For me, personally, my dream
is really just to keep growing

as a leader and a mentor.

I love this.

It gives me meaning and purpose,
and I'm driven by it every day.

It's what makes me show up.

So that, that's my dream for myself.

Twyla Verhelst, CPA: I love that.

Thank you for sharing all that.

I know we were, you know, kind of going
deep on some of that and I appreciate you,

being vulnerable and sharing some of those
things that are big and they are scary.

It, it certainly with the path that you
all are on I'm confident those dreams

will become your reality very, very soon.

So Karla, you joined us in Napa Valley.

It was so fun to have you there
and, that moment where we gave you

the Karbon Excellence Award and it
was just so, so much fun to honor

and celebrate you and your firm.

So what does it mean to you to
win a Karbon Excellence Award?

Karla Hourigan: Well, first of all,
it was unbelievable to be joining

the team at in Napa Valley and to
be there in person to accept it.

I think there's a photo that goes
around and it's of my face and I

could not wipe that smile off my face.

It was amazing.

This excellence award is such an honor
for me, for my business partner, our team.

Because it represents
more than great systems.

It's recognition that purpose
led firms like ours can lead

the way in our industry.

And it's recognition for the way
we work, not just what we do.

And it really validates our beliefs,
the things that we've been talking

about today, and that purpose and
performance can go co-exist together.

So I think it's a win for all small firms
and showing them that change is really

possible and you can be a part of it.

Twyla Verhelst, CPA: I love that and
certainly well deserved celebratory

moment that we had for you.

It's really obvious as to why you got
that, that award two years in a row.

So congratulations once again.

Karla, thank you so much for
joining the podcast today,

for your time and your energy.

We so appreciate having this
opportunity to chat with you.

Karla Hourigan: Thanks guys.

Twyla Verhelst, CPA: To our audience.

You've been listening to the 2025
Karbon Excellence Awards podcast.

Every episode, we ask Karbon
Excellence Award winners, a series

of questions on how they raise the
bar for the accounting profession.

For more advice and strategies on
how to grow your firm, visit Karbon

Magazine at karbonhq.com/resources.

Bye for now.