Preparing Accounting Professionals for the Future
The accounting industry is evolving rapidly. Advancements in technology have pushed the boundaries of accounting roles and expectations. The once tedious tasks of bookkeeping and data processing can now be completed efficiently with technology. Accounting professionals will be expected to harness technologies to evaluate data and derive meaningful insights for their organisation. The question is, are they ready to meet this expectation?
The spread of digital technologies has been identified as one main driver for change over the next decade, and that this will impact the accounting profession. To gain deeper insights into the skill-sets that future accountants should possess, SMU School of Accountancy conducted a series of focus group discussions with senior level industry practitioners in 2017. The findings indicated a shortage of accounting professionals with both accounting expertise and relevant technology skills. The conclusion is data and analytics will be a core requirement for the accounting profession. This echoed the report of The Committee on the Future Economy for Singapore’s Working Group on Legal and Accounting Services in 2017. The Committee recommended that in order to build a pipeline of future-ready professionals, institutes of higher learning should emphasise cross-disciplinary and practice-oriented elements, and more importantly, infuse technology into the accounting curriculum.
Launch of Second Major in Accounting Data and Analytics
SMU School of Accountancy has developed the Second Major in Accounting Data and Analytics, which is the first-of-its-kind in Singapore. Designed in consultation with industry stakeholders, which include the Big Four accounting firms and major banks, the programme covers skill-sets that employers now look for which include programming, accounting application, data management and data visualisation.
The above advertorial was published in The Sunday Times on 15 April 2018. Click here to view the advertorial.
