100 Drivers of Change for the Accountancy Profession DRIVERS OF - - PowerPoint PPT Presentation

100 drivers of change for the accountancy profession
SMART_READER_LITE
LIVE PREVIEW

100 Drivers of Change for the Accountancy Profession DRIVERS OF - - PowerPoint PPT Presentation

100 Drivers of Change for the Accountancy Profession DRIVERS OF CHANGE . ACCA Accountancy Futures Academy The global body for professional accountants THE DRIVERS AND THEIR IMPORTANCE Turbulence is the new normal Constant


slide-1
SLIDE 1

100 Drivers

  • f Change

for the Accountancy Profession

slide-2
SLIDE 2

The global body for professional accountants

ACCA Accountancy Futures Academy

DRIVERS OF CHANGE.

slide-3
SLIDE 3

The global body for professional accountants

THE DRIVERS AND THEIR IMPORTANCE

  • Turbulence is the new normal
  • Constant transition
  • All-encompassing change
  • Affecting almost every aspect of the

economy, business and the accountancy profession

slide-4
SLIDE 4

The global body for professional accountants

Power and Wealth Economic uncertainty Political transition Market volatility Globalisation Transformational innovation Advances in science and technology Demographic shifts Disruptive new business models

slide-5
SLIDE 5

The global body for professional accountants

100 DRIVERS 8 CATEGORIES

  • Economy
  • Politics and the law
  • Society
  • Business
  • Science and technology
  • Environment, energy and resources
  • Practice of accounting
  • Accountancy profession
slide-6
SLIDE 6

The global body for professional accountants

ECONOMY

  • Level of economic growth
  • Freedom of mobility for global labour
  • Consideration of alternative economic

perspectives

  • Broadening measurement of business

value and progress

  • Proportion of knowledge-creation

activities as a share of the economy at the national and global level

slide-7
SLIDE 7

The global body for professional accountants

POLITICS AND LAW

  • Focus of global governance institutions
  • Rate of democratic transition
  • Governance and delivery of
  • utsourced public services
  • Volume and complexity of legal

regulation

slide-8
SLIDE 8

The global body for professional accountants

SOCIETY

  • Spread of cultural diversity in society

and the workplace

  • Cost and ease of access to high

education

  • Scale and distribution of global

population growth

  • Uptake of online models in education
slide-9
SLIDE 9

The global body for professional accountants

BUSINESS

  • Quality and availability of the global

talent pool

  • Level of complexity in business
  • Evolution of corporate governance

regulation and practice

  • Adoption of integrated systems

thinking

  • Speed and duration of business cycles
slide-10
SLIDE 10

The global body for professional accountants

SCIENCE AND TECHNOLOGY

  • Big data: the development and

exploitation of large databases

  • ‘Intelligent’ accounting systems
  • Creation and valuation of digital assets
  • Cybersecurity challenges for business
  • Impact of advances in robotic science

across business sectors

slide-11
SLIDE 11

The global body for professional accountants

ENVIRONMENT, ENERGY AND RESOURCES

  • Level of trade in environmental finance

markets

  • Scale of take-up in alternative energy

by business

  • Global competition for limited natural

resources

  • Carbon tax and other environmental

mechanisms

slide-12
SLIDE 12

The global body for professional accountants

PRACTICE OF ACCOUNTING

  • Defining the scope of the accountant’s

role

  • Size and complexity of the CFO’s remit
  • Importance of non-tangible assets in

company valuation

  • Changing structures and business

models for accounting firms

  • Opportunities arising from adoption of

global regulation

slide-13
SLIDE 13

The global body for professional accountants

ACCOUNTANCY PROFESSION

  • Societal expectations and definitions of

accounting

  • Impact of competition from entrants
  • utside the profession
  • Accounting skills capacity in

transitional economies

  • Level of entrepreneurial skills
slide-14
SLIDE 14

The global body for professional accountants

What does this mean and how to respond?

slide-15
SLIDE 15

The global body for professional accountants

FORCES SHAPING THE BUSINESS ENVIRONMENT

  • 1. Global economy
  • 2. Business environment
  • 3. Innovation and change
  • 4. Society and work
  • 5. Learning and development
slide-16
SLIDE 16

The global body for professional accountants

IMPERATIVES FOR BUSINESS

  • 1. Assume and plan for volatility
  • 2. Build the radar
  • 3. Pursue technology leadership
  • 4. Prepare for true globalisation
  • 5. Develop a curious, experimental and

adaptable mindset

5

slide-17
SLIDE 17

The global body for professional accountants

FORCES SHAPING THE PROFESSION

  • 1. Trust and reporting
  • 2. Regulatory expectations
  • 3. Standards and practices
  • 4. Intelligent systems and big data
  • 5. Organisational remit
slide-18
SLIDE 18

The global body for professional accountants

IMPERATIVES FOR THE GLOBAL ACCOUNTANCY PROFESSION

  • 1. Embrace an enlarged strategic and

commercial role

  • 2. Establish trust and ethical leadership
  • 3. Focus on a holistic view of

complexity, risk and performance

  • 4. Develop a global orientation
  • 5. Reinvent the talent pool

5

slide-19
SLIDE 19

The global body for professional accountants

SCENARIOS

  • Public perception of the profession

with a spectrum of possibilities ranging from ‘part of the problem’ to ‘guardians

  • f integrity’
  • Scope of the accountant’s role

ranging from a ‘specialised compliance focus’ to a ‘broad organisational remit’.

slide-20
SLIDE 20

The global body for professional accountants

Narrow compliance focus Broad

  • rganisational

remit Guardians of integrity Part of the problem Buccaneer Changemaker Safehands Survivor

slide-21
SLIDE 21

The global body for professional accountants

www.accaglobal.com/driver

slide-22
SLIDE 22