Futureproof yourself and the profession
Globally, the attractiveness of the accounting profession is a major concern. This concern is not only relevant to attracting students and young professionals, but also retaining the current professionals within the industry. Extensive research has been undertaken to understand the underlying roots of this challenge.
One of the main reasons relates to the stigma around what accounting professionals are perceived to do in their day-to-day work environment. This stigma results in the profession being seen as boring, ordinary and unimpressive, whereas, in fact, it is one of the most exciting professions to be a part of if you have learned to embrace the advantages such a professional designation can bring you.
A question needs to be posed though: What are you, as an ambassador of the profession, displaying to enhance the attractiveness of the profession?
It is no secret that a significant number of traditional accounting roles have been and will be displaced given the ongoing development of various technologies. On the other hand, these developments are also creating the opportunity for many new roles within the industry. Roles which are of a more strategic nature and involve value-added activities such as advice and enhanced decision-making through the use of better-informed data. We have a responsibility to not only know and understand these technologies but to embrace them to a point where it demonstrates value and relevance. As accounting professionals, we will need to collaborate with these new technologies to remain relevant in our roles.
In the World Economic Forum Future of Jobs Report from 2023, the top core skills and rising skills are related to technology and relational acumen. What will set us apart from others will not only be to work with technology, but also our relations and dealings with people. The ability to be creative, innovative, and work well with others are skills which cannot be performed by technology. It is therefore expected that the Fifth Industrial Revolution focuses on both technology and humanity. It is our responsibility to, firstly, identify the required skills we need in our roles, but also to identify the required level of learning that needs to be undertaken.
To enable us as professionals to embrace the changing landscape in the accounting industry requires continuous and lifelong learning. What is learning? Learning is a process that leads to transformation and change. According to Bloom’s taxonomy, there are different objectives for learning. In some instances, you need a basic knowledge and understanding of a certain topic. Sometimes you require a more intermediate level of learning to enable you to apply and analyse the underlying theory in your role as an accounting professional. When you are required to use the theories to evaluate and synthesise, you reach an advanced level of learning, enabling you to create and innovate.
Learning enables us to connect our existing knowledge and understanding with new information. It can be undertaken in various ways, including studying toward a formal qualification and attending a workshop, webinar, seminar or training session. However, learning normally occurs because of experience. Some of the most effective ways to learn through experience, amongst others, are in the form of peer teaching, brainstorming, solving problems and case studies.
Distinguishing between learning and education is imperative. Education used to be finite. You study towards achieving a degree and that used to be the end of your learning journey. The learning landscape has changed. It is not just about acquiring new knowledge anymore. When learning takes place, it transfers the professional values and attitudes, otherwise known as behavioural competence, required for an accounting professional. One of the behavioural competencies required is the attitude of lifelong learning. It is through lifelong learning that we achieve the same set of ethical values and that we develop new skillsets which will align our ability to make value-adding decisions. Lifelong learning will enable us to remain technically competent regardless of changing technologies.
Lifelong learning is not only to your personal advantage but also to the benefit of your organisation and the profession. Learning builds capacity by way of upskilling and learning new skills. It makes us more adaptable to new technologies and other developments. And finally, learning drives innovation, which will set us apart in creating new ideas and improving current ideas when solving problems and adding value.
In his book Future Shock, US writer and businessperson Alvin Toffler wrote that ‘the illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn and relearn’.
Are you as ambassador of the accounting profession displaying the necessary qualities to ensure the attractiveness of the profession? Are you continuously learning to enable you to make a difference, add value and remain relevant?
Learning leads to lasting change. To distinguish yourself from other accounting professionals will require an attitude and appetite for continuous, lifelong learning. You will be required to learn, unlearn and relearn.
AUTHOR Roelita Cloete CA(SA) is Project Director: Learning and Development, Post Qualification at SAICA
This article was first published by Accountancy SA in it’s September Edition at the following URL: http://magazine.accountancysa.org.za/asa-september-2024?m=52861&i=829822&p=1&ver=html5
