Professional accountants – the future: Drivers of …

1 Professional accountants the future : Drivers of change and future skills Association of Chartered Certified accountants , 2016, All rights reserved. About ACCA. ACCA (the Association of Chartered Certified accountants ) is the global body for Professional This report identifies accountants . It offers business-relevant, first-choice qualifications to people of application, ability and the main Drivers for ambition around the world who seek a rewarding change that will have career in accountancy, finance and management. the most impact on the ACCA supports its 178,000 members and 455,000. students in 181 countries, helping them to develop profession, plus the successful careers in accounting and business, with the technical, ethical and skills required by employers. ACCA works through a network of 95 offices and centres and more than interpersonal skills and 7,110 Approved Employers worldwide, who provide competencies that will high standards of employee learning and development.

2 Through its public interest remit, ACCA be required in the future . promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA's core values are aligned to the needs of employers in all sectors and it ensures that, through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers.

3 More information is available at: The Association of Chartered Certified accountants June 2016. Association of Chartered Certified accountants , 2016, All rights reserved. Foreword 3. The global economy is fast changing. It is a likely to shape the practice of accounting world in which the accountancy profession and the role of the accountancy profession needs to ensure that its members have the from 2020 onwards we call these the knowledge, skills and abilities to help quotients for success. organisations sustain economic growth and compete nationally and internationally. Many of the resulting changes will be evolutionary rather than revolutionary. In this unique and groundbreaking report, The global need for the technical expertise Professional accountants the future : of Professional accountants will continue in Drivers of change and future skills, ACCA the long term, with some existing technical identifies the main Drivers for change over competencies increasing in value and the next decade.

4 We spoke to experts on others likely to diminish. every continent to help us pull this report together, and we thank them for their Whatever the shape of the future business feedback and insights. Their views have environment, it will require flexibility and helped us to identify these Drivers and their relevance. Professional accountants must influence on the future need for Professional both maintain their technical excellence accountants , what is expected of the and supplement this with highly profession and the value of new and existing developed personal skills and Professional technical and interpersonal competencies. qualities. This report reveals what the Professional accountant will look like, so Global connectivity, smart machines that those working in and close to the and new media are just some of the accountancy profession can plan and Drivers reshaping how people think adapt to meet the emerging challenges about work, what constitutes work and and exploit future opportunities.

5 It is an the competencies that will be needed exciting time for change. for productive contributors in the future . Every organisation and every profession Helen Brand has its own unique Drivers . ACCA Chief executive research indicates which Drivers are most ACCA. Association of Chartered Certified accountants , 2016, All rights reserved. Acknowledgements 4. AUSTRALIA BANGLADESH Coco Ni, Senior manager taxes, Fred Alale, Associate director, KPMG Seezan Choudhury, Partner, ACE Starbucks (China) Company Ltd. Australia Advisory Tao Feng, CFO, Beijing Capital Co,. Ltd. Katherine Bayliss, Executive manager Volodymyr Maksymchuk, CFO, Ollo Xuemei Wang, CFO, Longmen finance and company secretary, Arab Wireless Internet Huicheng Investment Ltd. Bank Australia Khan Monowarul Islam, Banglalink, Wei Song, CFO, Fosun Healthcare Andrew Christopher, Company director, Manager (advisory), EY Bangladesh (A.)

6 Group, Fosun RFBE Consulting Pty. Ltd. Australia Qasem & Co. Chartered accountants ) Jessie Wong, Partner, public policy and Barry Cooper, Associate dean (industry Rajan Sami, Business partner others, regulatory affairs, quality control and risk engagement and partnerships), financial planning and analysis, finance, management and department of professor Deakin University Banglalink Digital Communications Ltd. Professional practice audit, KPMG. Craig Edwards, Partner associate China CANADA. director, KPMG Australia Stephen Wong, General manager, Daniel Chou, Team leader, Inergi LP financial audit department, Fosun Group John Fallon, Asia-Pacific financial Capgemine controller, Pembroke Real Estate Japan Eric Wu, CFO, Auchan China Mohammed Chowdhury, Project lead, Joanne Freeman, Associate, Hall Marisa Wu, Head of finance and senior Ministry of Training Colleges &.

7 Chadwick vice president, DBS China Universities, Government of Ontario Robin Hayes, Platform assurance Xiaohui Xi, M&A and commercial Rashika Fernando, Director, enterprise manager global markets, Australia and finance manager, Shell Ltd. China portfolio management office, CIBC. New Zealand Richard Xie, Finance director, Lear (Canadian Imperial Bank of Commerce). Hussein Hussein, Ppartner, financial Corporation (Shanghai) Ltd. Ann Harris, Principal, Anne Harris services industry, treasury and capital Simon Yao, Finance controller, Consulting markets, Deloitte Kimberley-Clark China Rauf Ali Jan, Senior manager, assurance Belete Jember Bobe, Lecturer in Yue Zhao, Tax director, Grant Thornton services, EY Canada accounting, Deakin University Tim Leech, Managing director, Risk Qian Zhengxiang, Accounting director Paula Kensington, CFO & COO general manager, Sinar Mas Group - Oversight Solutions Inc.

8 , Canada and US. Australia and New Zealand, Regus APP China Rizwan Mirza, President, Mirza Kelvin Koh, CFO, HCF Life Insurance Zhu Jiang, Finance director, Tianjin JC. Professional Corporation, CPA. Company Pty Ltd. Environmental Services Anita Patel, Director, IT and operations Philomena Leung, Associate dean audit, Workplace & Safety Insurance CZECH REPUBLIC. international and corporate Board engagement, professor of accounting Martin Brix, Finance director, LeasePlan and governance), professor Macquarie CHINA Czech republic University Pavel Chl dek, Strategy and projects Dr. Chen Yugui, Deputy president and Isabelle Li, Associate director, secretary general, CICPA director, FTV Prima, spol. s international voice management, carrier Jaroslav Dubsk , Partner, R dl & Partner Chen Xin Kai, Director of finance and services integrated business unit, Audit operations, Hugo Boss China Retail Singtel Optus Company Ltd.

9 Roman Fink, Board member and CFO, Elaine Loo, Financial reporting manager, SOB Penzijn Spole nost Crystia Du, Vice president and chief Steadfast auditor, Manulife-Sinochem Life Marek Gryc, CEE area manager for Stephen Lynn, Head of finance, J O Insurance compliance and process risk Hambro Capital Management Ltd. management, Microsoft Sean Feng, Finance director, Ali Mehfooz, Head of international and Continental Automotive Asia-Pacific Martin Houska, Partner, ACREDOS, finance services, AMP Capital Cindy Gong, Assistant tax manager, Ji Klimas, Vice president, EU finance Ken Miller, Growth advisory, Grant Ecolab Investment Co., Ltd. China and accounting, Monster Worldwide CZ. Thornton Len Jiu, Asia-Pacific lead, public policy Vishal Modi, Director audit and and regulatory affairs, KPMG China Marek Krej , Finance director, building assurance, Hill Rogers Chartered components, Ruukki CZ Julia Li, VP taxation, Citigroup China accountants Xueyuan Liu, Senior project manager, Michal Kroh, Financial controller, Assa James Nethersole, Partner taxation Abloy Czech and Slovakia China Audit Asia-Pacific Certified Public consulting, Nexia Australia accountants LLP Frederic Labiche, Managing director, Jonathan Power, CEO, JPA Financial TMF Group Czech Republic Cai Yin Lu, Finance director, The Beast Modelling Shop Holding Stanislav Machek, Senior tax manager, Brendan Sheehan, Managing director, Accace Steve Ng, Partner, assurance.

10 Grant White Squires Thornton LLP Petr koda, Partner in charge of audit, Robert Smith, CFO, Green Earth Energy KPMG Czech Republic Association of Chartered Certified accountants , 2016, All rights reserved. Professional accountants the future : Acknowledgements 5. Drivers of change and future skills Stanislav Stan k, Independent auditor Raphael Ding, Chief executive and Yee Wing Peng, Country tax leader, Martin Va ek, Executive director of registrar, Hong Kong Institute of Deloitte products and integration, Certified Public accountants NIGERIA. eskoslovensk Obchodn Banka, Arthur Lee, Assistant president, company secretary and general Rashidat Adebisi, Deputy general Mika l Zakarian, Consumer channel manager of investor relations, CGN New manager, AXA Mansard Insurance plc group CEE CFO, Microsoft Energy Holdings Co.