Accountancy Evolution: Eye on the Future–The Editor’s Review Series No. 4

Bhumi Jariwala | April 5, 2016 |

[The Editor’s Review series provides readers with a recap of previous articles, resources, and/or news featured on the IFAC Global Knowledge Gateway. The series is designed to focus on a particular subject area that has been covered by our team and contributors.]

The future is something all professions must contend with. The accountancy profession is directly impacted by changes in technology, the workforce, the environment, and much more. Accountants should see themselves as innovators and facilitators in the emerging digital economy. Whether its artificial intelligence or cybersecurity, Generation Y or cultural diversity: the accountancy profession must continue to evolve. What can we expect in 10 or 20 years? What can we do to prepare ourselves? The IFAC Global Knowledge Gateway has featured a number of articles and videos with the future in the forefront. This article provides a recap of what has been published thus far.

  • Imagine Tomorrow: A New World for Accountants
    Dr. James Canton
    , CEO and Chairman, Institute for Global Futures
    Dr. James Canton, an expert who advises businesses and governments on future trends, discusses the future of accountants and the need to adapt to a rapidly changing landscape in the first of a multi-part Gateway series.
  • Prepare for the Future Using Predictive Awareness
    Dr. James Canton
    , CEO and Chairman, Institute for Global Futures
    Dr. James Canton discusses “predictive awareness” and how accountants, and the profession, can use it to identify opportunities for new products and services, and better prepare for what the future may hold.
  • A Circular Economy Must Drive Management Accounting in the 21st Century
    Stathis Gould
    , Head of Professional Accountants in Business and IR, IFAC
    A circular economy is one that produces value without producing waste; management accountants can help their companies develop sustainable business models that move them closer to a circular economy for the benefit of their customers, society, and the organization.
  • What is the Future for Assurance and Small Business?
    Paul Thompson
    , Director, Global Accountancy Profession Support, IFAC
    In many jurisdictions, the emergence of a “think small first” mentality has resulted in a light touch approach to policy and regulation for small businesses, releasing them from the obligation to have an audit, and from many financial reporting requirements. This begs the question, how can accountants best support small- and medium-sized entities?
  • Accountants: Helping Build a “Maker’s Economy”
    Eli R. Khazzam
    , Editor-in-Chief, IFAC Global Knowledge Gateway
    Accountants can play an important role in fostering the “maker’s economy” by providing necessary guidance to entrepreneurs in the early stages of product development and business growth.
  • Is Your Accounting Firm Ready?
    Mats Olsson
    , IFAC SMP Committee Member and Partner, Adrian & Partners AB, and Paul Thompson, Director, Global Accountancy Profession Support, IFAC
    New research highlights the relentless pace of change and disruption in business and accounting, and the steps accounting firms need to take to ready themselves for a future shaped by constant innovation and disruption.
  • Moving Forward, Together
    Olivia Kirtley
    , President, IFAC
    In a video Viewpoint, Olivia Kirtley, President of the International Federation of Accountants, makes the business case for diversity and inclusion, and its importance for the accountancy profession.
  • Cyber Security: It Isn’t as Clear as Us vs. Them
    Vincent Tophoff
    , Senior Technical Manager, IFAC
    Cyber security is as much a technical issue as a behavioral issue. People and their motivations are behind every threat but people also make or break the lines of defense.
  • It’s Not Really about Bitcoin, It’s about Change
    Fayez Choudhury
    , CEO, IFAC
    The accountancy profession plays an important role in promoting the growth of economies and the efficient operation of markets. In these times of rapid technological change, we should also be key players in the financial innovation taking place across society.
  • Give the Digital Natives Room to Run
    Bhumi Jariwala
    , Assistant Editor, IFAC Global Knowledge Gateway
    The Millennial generation has a unique aptitude that offers practical advantages to succeed in business and create value in the digital age. 
  • The Open Workforce and the Quiet Revolution in Talent Management
    Gillian Lees
    , Head of Research and Development, Chartered Institute of Management Accountants
    A quiet revolution is taking place in the way that talent and ideas are being developed due to the dramatic increase in externally managed freelancers and other business partners, and finance professionals have an important role to play.
  • A CFO’s Vision for 2020: Unleashing the Real Potential
    Dr. Murtaza Abbas Mooman
    , Chief Financial Officer, Siemens Engineering Pakistan Limited
    Fast changing business dynamics require CFOs to recognize the need for transformation. The alternative is failure to deliver a sustainable organization and a sustainable career.
  • 3D Printing, My Father, and Cost Modeling
    Eli R. Khazzam
    , Editor-in-Chief, IFAC Global Knowledge Gateway
    A look at traditional cost modelling in light of the changes 3D printing is and will make on how companies operate.
  • Relevant Service Offerings—Practice of the Future
    Berend van Aswegen
    , IFAC SMP Committee Member, and Paul Thompson, Director, Global Accountancy Profession Support, IFAC
    To address challenges such as competition and pricing—and benefit from related opportunities—practices must broaden their services, particularly in the area of advisory, that are key to the sustainable success of their clients.
  • The Changing Landscape of Learning for Our Profession
    Heather Stober
    , Senior Strategic Relationship Manager, American Institute of CPAs
    Learning is changing for accountants. Organizations must be ready to address the styles, media tools, and expectations of different generations.
  • Creating the "Anticipatory" Accountant 
    Tom Hood, Executive Director & CEO, Maryland Institute of CPAs
    A new initiative is being designed to adopt Daniel Burrus’ Anticipatory OrganizationTM framework for the accountancy profession. This includes helping accountants change their mindset to recognize and act on new opportunities in technology and developing new services. 

 

Bhumi Jariwala

Editor, IFAC Global Knowledge Gateway

Bhumi Jariwala is the Editor of the IFAC Global Knowledge Gateway. Prior to joining the IFAC team six years ago, she was employed at a human capital management consulting firm that specialized in workforce development and performance. Ms. Jariwala has experience in communications, market research, and information technology.  See more by Bhumi Jariwala

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