Accountants play an essential role in business by providing reliable financial reports. However, modern technologies affect and change all business activity, and there is an erroneous opinion that the profession of accountant will be among those which disappear. Automated technologies, in particular artificial intelligence, can already perform most of the tasks. Nevertheless, despite significant technological progress in the accounting sector, the profession will not disappear, but on the contrary, will rise to a new level.
Technology can take on the routine tasks of accountants, but only people can qualitatively analyze data at the moment. As a result, accountants will develop critical thinking and analytical skills, and the quality of reporting will improve. Technology benefits accounting now, making reports more transparent and accurate by providing some analytical data. More and more business organizations are taking advantage of these achievements of the modern world, and the tasks of accountants are expanding; for example, they can work as advisers.
Thus, accountants are faced with the task of gaining experience with technologies and their practical use. Educational institutions are still operating under the old curricula, but there is a growing need to expand them. To gain the relevant skills, KPMG’s National Audit Solutions Group created the first “KPMG Master of Accounting with Data and Analytics Program” (Insights Team para. 12). It was designed to prepare accountants of a new generation who are effectively-versed in modern trends. Already several universities offer their students this program of study, as a result of which they will be able to get a job in the KPMG group. All these events mark positive changes in the accounting sphere and the transformation of the accountants’ profession.
Work Cited
Insights Team. “The Next-Generation Accountant.”Forbes, 2019, Web.