IFAC has released a report to help accountants in business remain relevant at a time of increasingly fast paced technological changes.
IFAC’s professional accountants in business committee chair Charles Tilley wrote in the report introduction: “Technology is the principal driver that enables the finance function to be a more effective business partner working with the business by helping provide security, control, and quality decisions focused on value creation and preservation. If the accountancy profession and professional accountants in business do not embrace change, other current or emerging professions will take our coveted place at the heart of business.”
To help professionals the report looked at the continued evolution of the profiles of finance leadership and accountants in business. This implied effective risk management and rapid cognitive business development due to digital disruption.
The report can be found here.