Value add Education

Giving a good account

Career paths are likely to become more diverse, as accountancy students learn new skills and reimagine their working lives.   | Photo Credit: Freepik

Global trends are transforming the world and future of work in accountancy. As the profession takes centrestage in building and protecting businesses and organisations in a sustainable global economy, people will have to adapt, skills will have to transform and learning will have to evolve.

In order to remain resilient, there are five zones of opportunity that will help students build sustainable careers and businesses. These are:

The assurance advocate: Brings new levels of trust and integrity to an organisation’s operations. The focus is on enterprise risk management to help drive transparency and understanding of emerging issues affecting business performance. An assurance advocate is at the forefront of shaping future forward-looking audit practices, as the capabilities of digital tools and technologies expand.

The data navigator: Is a true business partner who sees extraordinary opportunities from the expanse of data and uses emerging tech and analytical tools to drive insights that deliver business outcomes and sound financial management of the organisation. He/she champions ever-growing multi-rich data sets and uses smart data to generate brilliant forward-looking analysis to support decision-making. This could be exploring new geographic market opportunities or building the case for investment.

The sustainability trailblazer: Is at the heart of performance management in an organisation, and plays a key role in establishing frameworks that capture, evaluate and report on the activities that truly drive value and in ways that are much more transparent and meaningful to the outside world. He/she transforms the management accounting for a multi-capital world and sees emerging opportunities with better external disclosures to stakeholder groups. He/she understands that aligning the pursuit of profit with purpose is integral to building sustainable future businesses.

The business transformer: Is the architect of organisational change. He/she could be responsible for driving major business change initiatives or transforming finance operations. He/she may be leading innovative smaller accountancy firms that transform client businesses or exploring growing careers in external advisory services driven by technological innovation and economic growth or leading smaller enterprises as digital platforms open the door to new commercial opportunities.

The digital playmaker: Is a technology evangelist who sees remarkable possibilities for emerging digital tools in transforming the organisations in which he/she works. A champion of technology adoption and data governance within the organisation, he/she looks to connect across teams and functions and focus on digital implementation programmes or have specialised expertise in particular finance and business technologies.

The writer is the Head of International Development, Association of Chartered Certified Accountants (ACCA)

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Printable version | Jan 20, 2021 6:50:59 PM | https://www.thehindu.com/education/skills-that-students-of-accountancy-will-need-to-develop-in-the-post-covid-19-era/article33149339.ece

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