It’s still accounting, but it’s different
Challenges facing businesses lately have been nothing short of dramatic writes
panies who attract the right talent and get the right fit continually outperform those who don’t.
“The change recently is how we work to align the current business environment, technology and new generations entering the workforce together. This is a fundamentally important investment for every organisation, and our clients value good advice around what works and what to do when it doesn’t.”
To address these client challenges, accountants must embrace cloudbased accounting software, says Davy. “But harnessing the cloud for efficient accounting compliance is not enough. The real benefit is in utili sing apps and add- ons to provide privately- owned businesses with a broader, more integrated solution that is the envy of larger corporates. Continual investment in tools and resources that facilitate quality, advisory- led engagements with our clients is key.”
Davy notes that as the demands of the profession accelerate, graduates may have less time and opportunity to master the basics. However, those coming lately into the accounting and advisory sector need a different set of skills to those of the traditional accountant, and “thankfully a lot of these can be learned and trained in the right environment”.
When hiring graduates, BDO looks to see what else they’ve have done in their lives and what relevant skills they have attained outside of accounting and tax. “And they need to have a very positive attitude to change. Those with a broad range of awareness, and excitement about future potential, have a fantastically rewarding opportunity ahead of them.”
However, the opportunities won’t be for just the young. Davy says that as long as older accountants are bold enough to adapt, they will be among those best placed to add value to clients.
“Their experience helps them empathise with, and make judgment calls on, a broad range of business situations. I’m an older accountant myself, and I love the opportunities and challenges of combining my broad and deep experience with the latest technology to give maximum value to the client.”
Davy doesn’t ultimately envisage a future where accountants will be replaced by robots. “Instead, accountants will increasingly be required to bring their humanity to bear on their work,” he says.
“Futurists talk of change and evolution and the inevitable move to robotics in a logical, predictable manner. They forget one thing — emotion. Find an accountant with empathy and passion, apply that to what the numbers actually mean to you, and there may be hope yet.”