The report, "Professional accountants – the future: Generation Next: managing talent in small and medium sized practices," discusses the importance of managing talent in small and medium-sized practices. The report highlights the role of professional accountants in the economy and the need for accounting professionals to be business-relevant and have the skills required by employers. The report also emphasizes the importance of removing artificial barriers and opening up the profession to people of all backgrounds. The report concludes that professional accountants will play a crucial role in the future and that managing talent is essential for the growth and success of small and medium-sized practices.