The President of Prudential Auditors and Consultants (PAC), University of Nigeria Enugu Campus (UNEC) and Institute of Management and Technology (IMT) chapter pleaded on our firm to grace their occasion tagged The Place of Accountant In The Technology Driven World. We accepted the invitation.
We started by emphasising that the role of an accountant is changing to that of a business advisor. This was necessary due to the traditional roles accountants play that technology has altered.
Accounting software has features that allow accountants to process large amount of information quickly and reduces the number of errors made.
Bookkeeping of transactions are done using Accounting Software with few clicks receipts, invoices, quotation, reminders are all done with ease. Even preparation of financial statement accountants pride themselves on are now produced by those who are not accountants by using Accounting Software.
Accountants are now working remotely with clients jobs across states with online accounting software to grant access to their clients.
A new set of skills are required for accountants to be relevant in the present world like, proficiency in IT, communication and interpersonal skills, critical thinking skills, professional judgment etc
The profession is rapidly changing due to emerging technologies; the need for these skills remains constant.
For marketing and socialisation purposes, accountants use social media which is based on technology to market accounting services, socialise, network and connect to other accounting professionals.
The issue of security of data was discussed, where we pointed out security features of certain platforms. For example, the One Time Password (OTP), IDs authentication with each user, Extended Validation (EV) etc
One of the questions we dealt with was the cost of training for proficiency.
These are the answers we gave:
1) Using YouTube, a lot can be learnt through night data plan.
2) Arrange for group training, it is cheaper than individual training. Being an undergraduate is a great opportunity for this kind of training.
3) Seek internship in companies.
4) Offer to work free at certain stage of your life for acquisition of knowledge.
We concluded thus, we can see that the initial fear that computer and technology will cost accountants their jobs was uncalled for as computers and technologies has created even more accounting and finance roles in our modern day business environment.
Since our presentation, PAC has gone into arranging for a group training which our opinion was sought accordingly.