The end of the accounting profession as we know it?

The accounting profession will face significant changes in the next three decades, and professional organizations, their members, and educational institutions should respond

Association of Chartered Certified Accountants (ACCA) research—Drivers of Change and Future Skills—has explored these important changes, expected to be encountered by the year 2025. I was privileged to have been part of the team from Uganda discussing the future of the Accounting profession. One of the highlights was on the need to have professional Quotients and below is an excerpt from the report.

PROFESSIONAL QUOTIENTS (PQ): This analysis suggests that to add value for their employers and clients, the professional accountant of the future will need an optimal and changing combination of professional competencies: a collection of technical knowledge, skills and abilities, combined with interpersonal behaviours and qualities. By 2020, all professional accountants will need to develop and balance the necessary professional quotients to fit their role and stage of career.

Are you ready to compete with a Robot for your job? #‎artificialintelligence

I was reading a document late in the night and reached a point where I wasn’t going beyond one paragraph. I suddenly wished someone would read out the document for me and I just listen. Adobe reader came to memory and I immediately converted the word document to PDF and turned on the Read-Out-Loud function. Well it helped but not quite because of a few limitations.

I got thinking of how machines are taking over human roles so fast. According to internet sources, it is said that perhaps 75% of the jobs done by humans will be gone in 50 years. As they are starting to do today, machines will manage the routine while humans take on the unpredictable – tasks that require creativity, problem solving and flexibility. No existing or future job without exception is safe simply because computers as general purposes machines think smarter, less error prone and continue to be programmed to be more creative than humans in the long run.