Accountants must become more proficient in financial forecasting and using accounting specific software if they are to be of value in the future, according to a new survey of accounting professionals by Caseware.
While the majority (56%) of accountants say they are currently carrying out tasks manually that could be automated, only 43% believe this will continue beyond 2020.
Instead, they believe that the profession will take on a more consultative role for clients in the next few years, advising on issues like financial planning and strategy, with automation taking on the majority of analytical and data entry tasks.
The findings are part of a new report by accounting automation software specialists Caseware, analysing what accountants believe will be the biggest changes in the industry in the next five years – particularly around skills and the use of technology.
Read the full article in the International Accounting Bulletin here