Future-proofing accounting professionals: Ensuring graduate employability and future readiness

Bowles, Marcus; Ghosh, Samrat; Thomas, Lisa

doi:10.21153/jtlge2020vol11no1art886

Cited by 26 publications

(15 citation statements)

References 19 publications

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“…The study signals an important opportunity for university providers, employers and professional associations to identify ways, ideally in partnership, to better develop technology-related skills among aspiring and current ECAs. Importantly, enhancing digital capability among ECAs is critical for their own career sustainability (Bowles et al , 2020) and for the success of organisations and the profession more broadly (CPA Australia, 2021).…”

Section: Discussionmentioning

confidence: 99%

New technology and desired skills of early career accountants

Jackson

Michelson

Munir

2022

PAR

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Purpose Technological advances have led to accounting roles shifting from transaction focussed tasks to using data generated by technology to inform stakeholder strategies, resulting in changing skill requirements. This study aims to investigate how early career accountants (ECAs) and organisations value different skills among ECAs, how technology is impacting on these skills and the preparedness of ECAs for future technological work in different organisational settings. Design/methodology/approach The research adopted a multi-stakeholder, mixed-method approach, surveying 315 ECAs and 175 managers/recruiters and interviewing 10 from each group. The sample drew from different industry sectors and organisation types in Australia, with all states represented. Findings There was broad agreement among ECAs and managers on requisite skills for technology. Most ECAs and managers believed new technology is influencing the skills required in accounting, yet the impact was considered greater among ECAs and effects varied by organisational setting. Overall, the research did not support ECAs as “digital natives” and illuminated the importance of exposure to technology, a change mindset and lifelong learning to better prepare them for new technology. Originality/value This study makes an important contribution to understanding how and why skills for success in accounting are evolving in the context of new technology and how prepared ECAs are for technology from both their own and managers/recruiters’ perspectives. It highlights the need for greater dialogue, benchmarking and evaluation of performance in technology-related skills among new accountants and their managers. Further, it identifies areas where ECAs would most benefit from targeted support, aiding personal career success and organisational competitiveness.

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Section: Discussionmentioning

confidence: 99%

New technology and desired skills of early career accountants

Jackson

Michelson

Munir

2022

PAR

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“…Despite suggestions that the accounting profession is one of the most vulnerable to disruption through automation and changed business models, Bowles et al (2020) report 24 capabilities, including six requirements considered essential for every professional seeking to work in accounting, finance, and related work roles. The findings provide evidence that these capabilities, in contrast to other reports suggesting that employment opportunities for accounting graduates are in decline, can create opportunities for sustainable careers.…”

Section: The 4ir and Its Impact On The Accounting Professionmentioning

confidence: 99%

Exploring the impact of 4IR on skills and personal qualities for future accountants: a proposed conceptual framework for university accounting education

Tsiligiris

Bowyer

2021

Accounting Education

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The fourth industrial revolution (4IR) presents many opportunities and challenges in a digitised world of work. This paper draws on a systematic literature review of recent research published by accounting professional bodies outlining the impact of digital technologies on the accounting profession. By taking advantage of this work this study critically assesses the types of skills and personal qualities that graduates as future accountants will need and explores the implications for accounting education and university curricula. The analysis reveals that necessary skills for future accountants may be summarised into four categories: (a) Ethical skills; (b) Digital skills; (c) Business skills; and (d) Soft skills. The analysis reveals 'adaptability' and 'lifelong approach to CPD' as the two essential personal qualities for future accountants. The practical implications for university accounting education are summarised in a proposed conceptual framework. The proposed conceptual framework: (1) acts as a roadmap for universities to align their accounting curricula with the developments in professional body syllabi; (2) helps university accounting education teachers to update, enrich, and refocus their teaching and learning approach to the requirements of the 4IR; and (3) promotes the coordination and rationalisation of the skills and personal qualities currently pursued by employability agendas at university, course, and module levels.

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“…It has analyzed that the extent to which an auditor's competencies can help in successful implementation of the e-audit system (AZIZOVA and Hakan, 2020;Supriadi et al, 2019). There is a surge in demand for advanced IT skills among accounting professionals (Bowles et al, 2020;Pan and Seow, 2016). IT showed that team problem-solving ability and computer audit activity positively influence internal audit performance, and that competencies indirectly influence internal audit performance through the mediating effects of team problem-solving ability and computer audit activity (Siew et al, 2020;Wu et al, 2017).…”

Section: Information Communication Technology Competencymentioning

confidence: 99%

Characteristics of information communication technology and audit practices: evidence from India

Thottoli

Thomas²

2020

VJIKMS

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Purpose The purpose of this study is to investigate the relationship between characteristics of information communication technology (ICT, adoption, confidence, competency and training) and auditing practices. The paper further explained the significance of the auditing practices, evaluated the relationship between ICT characteristics (adoption, confidence, competency, training) and auditing practices. Design/methodology/approach The study adopts a quantitative approach, where a set of questionnaires was developed by making necessary adaptations to available scales/items. Data were collected from practicing chartered accountants in Kerala targeting 89 respondents from various professional auditing firms. The results were analyzed using Statistical Package for the Social Sciences and structural equation modelling-partial least squares statistical tools. Findings The findings confirmed that there is a positive relationship between three components of ICT factors on audit practice, namely, ICT adoption, ICT competency and ICT training, whereas the factor, ICT confidence has a negative relationship with audit practice. Thus, the availability of ICT-competent staff, their practical ICT knowledge, sufficient and adequate ICT training assist audit firms from doing audit by implementing customized audit software for audit practice. Research limitations/implications A limitation of the study is that limited variables of ICT on audit practice are taken in the model. Refinement of the model and the variables (such as ICT challenges), ICT perceived benefits and the unified theory of acceptance and use of technology (UTAUT) model used provide an opportunity for future research. Practical implications The barriers facing by non-big four audit firms (especially sole proprietorship and limited liability partnership firms) faces ICT challenges requires intense management interventions to be self-equipped for the current information technology (IT) world and to facilitate and to ensure fairness of financial statements to the stakeholders that strongly links auditors advance IT skills and available firms resources to investment and adopt audit software for the benefits of the audit firms. Originality/value The paper upstretched some of the ICT challenges that will assist as points, which have been helpful for future researchers, and have provided accounting and auditing professionals, auditing professional institutions and their management, government, tax officials, policy makers, auditing software vendors and other stakeholders the bases for encouraging ICT adoption.

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Future-proofing accounting professionals: Ensuring graduate employability and future readiness

Cited by 26 publications

References 19 publications

New technology and desired skills of early career accountants

New technology and desired skills of early career accountants

Exploring the impact of 4IR on skills and personal qualities for future accountants: a proposed conceptual framework for university accounting education

Characteristics of information communication technology and audit practices: evidence from India

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