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Professional accountants – the future:Drivers ofchange andfuture skills Association of Chartered Certified Accountants, 2016, All rights reserved.
About ACCAACCA (the Association of Chartered CertifiedAccountants) is the global body for professionalaccountants. It offers business-relevant, first-choicequalifications to people of application, ability andambition around the world who seek a rewardingcareer in accountancy, finance and management.ACCA supports its 178,000 members and 455,000students in 181 countries, helping them to developsuccessful careers in accounting and business, with theskills required by employers. ACCA works through anetwork of 95 offices and centres and more than7,110 Approved Employers worldwide, who providehigh standards of employee learning anddevelopment. Through its public interest remit, ACCApromotes appropriate regulation of accounting andconducts relevant research to ensure accountancycontinues to grow in reputation and influence.Founded in 1904, ACCA has consistently held uniquecore values: opportunity, diversity, innovation, integrityand accountability. It believes that accountants bringvalue to economies in all stages of development andseek to develop capacity in the profession andencourage the adoption of global standards. ACCA’score values are aligned to the needs of employers inall sectors and it ensures that, through its range ofqualifications, it prepares accountants for business.ACCA seeks to open up the profession to people ofall backgrounds and remove artificial barriers,innovating its qualifications and delivery to meet thediverse needs of trainee professionals and theiremployers. More information is available at:www.accaglobal.com The Association of Chartered Certified AccountantsJune 2016 Association of Chartered Certified Accountants, 2016, All rights reserved.This report identifiesthe main drivers forchange that will havethe most impact on theprofession, plus thetechnical, ethical andinterpersonal skills andcompetencies that willbe required in the future.
Foreword3The global economy is fast changing. It is aworld in which the accountancy professionneeds to ensure that its members have theknowledge, skills and abilities to helporganisations sustain economic growth andcompete nationally and internationally.In this unique and groundbreaking report,Professional accountants – the future:Drivers of change and future skills, ACCAidentifies the main drivers for change overthe next decade. We spoke to experts onevery continent to help us pull this reporttogether, and we thank them for theirfeedback and insights. Their views havehelped us to identify these drivers and theirinfluence on the future need for professionalaccountants, what is expected of theprofession and the value of new and existingtechnical and interpersonal competencies.Global connectivity, smart machinesand new media are just some of thedrivers reshaping how people thinkabout work, what constitutes work andthe competencies that will be neededfor productive contributors in the future.Every organisation and every professionhas its own unique drivers. ACCAresearch indicates which drivers are mostlikely to shape the practice of accountingand the role of the accountancy professionfrom 2020 onwards – we call these thequotients for success.Many of the resulting changes will beevolutionary rather than revolutionary.The global need for the technical expertiseof professional accountants will continue inthe long term, with some existing technicalcompetencies increasing in value andothers likely to diminish.Whatever the shape of the future businessenvironment, it will require flexibility andrelevance. Professional accountants mustboth maintain their technical excellenceand supplement this with highlydeveloped personal skills and professionalqualities. This report reveals what theprofessional accountant will look like, sothat those working in and close to theaccountancy profession can plan andadapt to meet the emerging challengesand exploit future opportunities. It is anexciting time for change.Helen BrandChief executiveACCA Association of Chartered Certified Accountants, 2016, All rights reserved.
Acknowledgements4AUSTRALIABANGLADESH Fred Alale, Associate director, KPMGAustralia Seezan Choudhury, Partner, ACEAdvisory Katherine Bayliss, Executive managerfinance and company secretary, ArabBank Australia Volodymyr Maksymchuk, CFO, OlloWireless Internet Xuemei Wang, CFO, LongmenHuicheng Investment Ltd. Andrew Christopher, Company director,RFBE Consulting Pty. Ltd. Australia Khan Monowarul Islam, Banglalink,Manager (advisory), EY Bangladesh (A.Qasem & Co. Chartered Accountants) Wei Song, CFO, Fosun HealthcareGroup, Fosun Barry Cooper, Associate dean (industryengagement and partnerships),professor Deakin University Rajan Sami, Business partner – others,financial planning and analysis, finance,Banglalink Digital Communications Ltd. Craig Edwards, Partner – associatedirector, KPMG AustraliaCANADA John Fallon, Asia-Pacific financialcontroller, Pembroke Real Estate Japan Joanne Freeman, Associate, HallChadwick Robin Hayes, Platform assurancemanager global markets, Australia andNew Zealand Hussein Hussein, Ppartner, financialservices industry, treasury and capitalmarkets, Deloitte Belete Jember Bobe, Lecturer inaccounting, Deakin University Paula Kensington, CFO & COOAustralia and New Zealand, Regus Kelvin Koh, CFO, HCF Life InsuranceCompany Pty Ltd. Philomena Leung, Associate dean– international and corporateengagement, professor of accountingand governance), professor MacquarieUniversity Isabelle Li, Associate director,international voice management, carrierservices integrated business unit,Singtel Optus Elaine Loo, Financial reporting manager,Steadfast Stephen Lynn, Head of finance, J OHambro Capital Management Ltd. Ali Mehfooz, Head of international andfinance services, AMP Capital Ken Miller, Growth advisory, GrantThornton Vishal Modi, Director – audit andassurance, Hill Rogers CharteredAccountants James Nethersole, Partner – taxationconsulting, Nexia Australia Jonathan Power, CEO, JPA FinancialModelling Brendan Sheehan, Managing director,White Squires Robert Smith, CFO, Green Earth Energy Daniel Chou, Team leader, Inergi LPCapgemine Mohammed Chowdhury, Project lead,Ministry of Training Colleges &Universities, Government of Ontario Rashika Fernando, Director, enterpriseportfolio management office, CIBC(Canadian Imperial Bank of Commerce) Ann Harris, Principal, Anne HarrisConsulting Rauf Ali Jan, Senior manager, assuranceservices, EY Canada Tim Leech, Managing director, RiskOversight Solutions Inc., Canada and US Rizwan Mirza, President, R.A MirzaProfessional Corporation, CPA Anita Patel, Director, IT and operationsaudit, Workplace & Safety InsuranceBoardCHINA Coco Ni, Senior manager taxes,Starbucks (China) Company Ltd. Tao Feng, CFO, Beijing Capital Co,. Ltd. Jessie Wong, Partner, public policy andregulatory affairs, quality control and riskmanagement and department ofprofessional practice – audit, KPMGChina Stephen Wong, General manager,financial audit department, Fosun Group Eric Wu, CFO, Auchan China Marisa Wu, Head of finance and seniorvice president, DBS China Xiaohui Xi, M&A and commercialfinance manager, Shell Ltd. China Richard Xie, Finance director, LearCorporation (Shanghai) Ltd. Simon Yao, Finance controller,Kimberley-Clark China Yue Zhao, Tax director, Grant Thornton Qian Zhengxiang, Accounting directorgeneral manager, Sinar Mas Group APP China Zhu Jiang, Finance director, Tianjin JCEnvironmental ServicesCZECH REPUBLIC Martin Brix, Finance director, LeasePlanCzech republic s.r.o. Dr. Chen Yugui, Deputy president andsecretary general, CICPA Pavel Chládek, Strategy and projectsdirector, FTV Prima, spol. s r.o. Chen Xin Kai, Director of finance andoperations, Hugo Boss China RetailCompany Ltd. Jaroslav Dubský, Partner, Rödl & PartnerAudit s.r.o. Crystia Du, Vice president and chiefauditor, Manulife-Sinochem LifeInsurance Sean Feng, Finance director,Continental Automotive Asia-Pacific Cindy Gong, Assistant tax manager,Ecolab Investment Co., Ltd. China Len Jiu, Asia-Pacific lead, public policyand regulatory affairs, KPMG China Julia Li, VP taxation, Citigroup China Xueyuan Liu, Senior project manager,China Audit Asia-Pacific Certified PublicAccountants LLP Cai Yin Lu, Finance director, The BeastShop Holding Steve Ng, Partner, assurance, GrantThornton LLP Association of Chartered Certified Accountants, 2016, All rights reserved. Roman Fink, Board member and CFO,ČSOB Penzijní Společnost Marek Gryc, CEE area manager forcompliance and process riskmanagement, Microsoft Martin Houska, Partner, ACREDOS, s.r.o. Jiří Klimas, Vice president, EU financeand accounting, Monster Worldwide CZs.r.o. Marek Krejčí, Finance director, buildingcomponents, Ruukki CZ s.r.o. Michal Kroh, Financial controller, AssaAbloy Czech and Slovakia s.r.o Frederic Labiche, Managing director,TMF Group Czech Republic Stanislav Machek, Senior tax manager,Accace Petr Škoda, Partner in charge of audit,KPMG Czech Republic
Professional accountants – the future:Drivers of change and future skillsAcknowledgements Stanislav Staněk, Independent auditor Raphael Ding, Chief executive andregistrar, Hong Kong Institute ofCertified Public Accountants Martin Vašek, Executive director ofproducts and integration,Československá Obchodní Banka, a.s. Mikaël Zakarian, Consumer channelgroup – CEE CFO, Microsoft Roman Ženatý, Director, tax and legaldepartment, Deloitte Advisory s.r.o.DUBAI Saad Maniar, Managing partner, CrowneHorwathETHIOPIA Tewodros Tilahun, Owner, Generalmanager, Diligence Consultancy ServicePLCGHANA Thomas Abobi, Finance manager,Ghana Water Company Henry Agyeman Boateng, Financemanager, Ghana Investment forElectronic Communications Comfort Anipa, Lecturer, University ofCape Coast Dr. Boasiako Antwi, Director of finance,Judicial Service Ibrahim Bedi, Lecturer, University ofGhana Business School Henry Djangmah, International liasonofficer, UHY Ghana Francis Gariba Apam, Solicitor,Oseawuo Chambers and Co Michael Klutse, Finance manager,Ghana Water Company Edem Kofi Kugbey, Principal accountant,Food and Drugs Board Evelyn Lartey, Auditor, Controller andAccountant General Wisdom Nuworkpor, Head of wholesaleoperations, Barclays Bank Ghana Isaac Nyame, CEO, Ikern and Associates Michael Nyarko, Risk based auditor,Bank of Ghana Stephen Omane, Managing partner andCEO, Riskafrique ConsultGREECE Evangelos Kontogiorgis, Group chiefaccountant, Coca-Cola HBC AG GroupHONG KONG Kelly Chan, Finance director, MoëtHennessy Diageo HK Ltd. Wilson Cheng, Tax partner, tax andbusiness advisory services, EY5 Yee Wing Peng, Country tax leader,Deloitte Arthur Lee, Assistant president,company secretary and generalmanager of investor relations, CGN NewEnergy Holdings Co., Ltd. Louis Leung, Managing director, LouisLeung & Partners Barry Li, Regional head of risk, AsiaPacific, HSBC Securities ServicesNIGERIA Rashidat Adebisi, Deputy generalmanager, AXA Mansard Insurance plc Olumuyiwa Coker, Country managingpartner, Mazars Coker & Co Humphrey Enechukwu, Director-financeand accounts, Sea Petroleum & Gas CoLtd. Jide Ibironke, CFO, Mantrac Nigeria Ltd. William Mak, Partner,PricewaterhouseCoopers Jafaru Kupa, Resident internal controlofficer- early warning, remedial andrecovery, Ecobank Nigeria Ltd. Paul Mok, Group financial controller,Orient Overseas (International) Ltd./Orient Overseas Container Line Ltd. Akintunde Odunsi, Managing partner,Tjadaf Consulting and AssociatesKENYA Austin Akuku, Business finance partner– East and Southern Africa, StandardChartered Bank Keval Haria, Audit manager, BC Patel Geoffrey Injeni, Faculty & consultant– accounting and finance, StrathmoreBusiness School Anne Kimari, CFO and COO, AfricanAcademy of Sciences Kenon Mwiti, Finance manager, EagleAfrica Ceasar Nyagah, Investment analyst,Fanisi Capital Theresa Okeyo Samita, Group internalaudit manager, Standard Bank Group Uyoyo Oladapo, Senior financial analyst,investor relations, FBN Holdings Plc Seyi Olanrewaju, Finance director/executive head, Vodacom BusinessNigeria Taiwo Oyedele, Partner, West Africa taxleader, PwCSINGAPORE Mark Anderson, Vice president, APJ PPSfinance, Hewlett-Packard Neel Augusthy, CFO customer logisticservices APAC, Johnson & Johnson Yoke Ping Boey, Tax partner, Baker TillyTFW LLP Gerard Ee, President, ISCA Charles Ringera, CEO and boardsecretary, Higher Education Loans Board Angie Lim, Global CFO, HSBC Account,JLL Isaac Wachira, Lead consultant, EuriskConsulting Ltd. Eric Lim, Managing director, UOB GroupFinance Robert Waruru, Associate director, taxand regulatory services, KPMG AdvisoryServices Ltd. Holger Lindner, CFO, TÜV SÜD ProductService DivisionMALAYSIA Merina Abu Tahir, Chief internal auditor,Malaysia Airlines Berhad Manohar Benjamin Johnson, Executivedirector, PricewaterhouseCoopers Jeffrey Chew, Group chief executiveofficer, Paramount Corporation Berhad Gary Huang, Audit partner, Deloitte Lukman Ibrahim, Former deputy chiefexecutive officer, Proton HoldingsBerhad Lock Peng Kuan, Partner, Baker TillyMalaysia Renaka Ramachandran, CFO, SimeDarby Plantation Sendirian Berhad Surin Segar, Head of tax, Maybank Meng Keat Mak, Head and Partner ofassurance, EY LLP Laksha Mehta, Programme director,professional programmes, SSA GlobalEducation Soo Ping Lim, Professor of accounting(practice), Singapore ManagementUniversity Simon Poh, Associate professor(practice), NUS Business School Ragu Raghunathan, Partner, PwCConsulting David Sandison, Managing director,David Sandison & Co Wayne Soo, Managing partner, FiduciaLLP Dominique Tan, Partner, Mazars LLP Association of Chartered Certified Accountants, 2016, All rights re
White Squires Robert Smith, CFO, Green Earth Energy Acknowledgements BANGLADESH Seezan Choudhury, Partner, ACE Advisory Volodymyr Maksymchuk, CFO, Ollo Wireless Internet Khan Monowarul Islam, Banglalink, Manager (advisory), EY Bangladesh (A. Qasem & Co. Chartered Accountants) Rajan Sami, Business partner – others, financial planning and analysis, finance,
