The Four big global themes

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The four big global themes for 2019-20
Professional insights reports
Relevant and topical reports used to demonstrate our leadership of the profession
Q2
Connections /
partnership
Q1
Digital and
technology
Q3
Ethics, trust,
sustainability
Q4
Careers, skills,
employability

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Digital Disruptions
• As the world’s most forward thinking professional accountancy body, it’s
natural that we explore global trends and issues for business, economics,
society and our profession as a whole.
• Digital is arguably the biggest factor shaping the future of the profession
and the future roles our students and members will perform.
• There are many different technologies impacting the profession: automation,
robotics, cloud, cyber, social, AI and blockchain.
• In earlier research we identified digital - the awareness and application of
existing and emerging digital technologies, capabilities, practices and
strategies - as one of our seven professional quotients for success.

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So why does it matter to the accountancy profession?
 Challenges the finance function as we
know it today
 Threatens established business models,
yet new ways of creating value for
organisations are opening up
 Businesses are starting to recognise
how the digital environment is reshaping
what is needed from the most prized
asset - Talent

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So why does it matter to the accountancy profession?
 Commercial priorities in an
environment that is complex and
competitive have become clear
 Responding to these needs effectively
is the hallmark of a successful finance
function in a digital economy

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Implications on Finance Roles, Careers and Talent?
 Technology alone can never simply be the
‘silver bullet’, it is the skills that finance
professional bring to the function in future that
will continue to differentiate greatness from
goodness in organisations
 These skills must be ‘fit for purpose’ in the
digital aligned to how and where the finance
team can create most value
 As the remit of the finance function continues to
evolve in response to emergence of digital, it
implies a number of specific capabilities and
behaviours that will increasingly be valued

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ACCA & The the power of digital
• A significant area of interest - an established digital and
technology research programme which now includes our latest
research on Machine Learning. This report cuts through the
hype to explain the tremendous opportunities this area has for
our profession, and why emotional intelligence and ethical
judgment remain vital.
• Thanks to our ground breaking research, we deliver the
relevant digital skills that our students and members need by
firmly embedding our findings throughout the ACCA
Qualification and CPD resources.
• We aim to bring insight, clarity, practical guidance and solutions
that enable our stakeholders to embrace these new
technologies. By looking to the future, we deliver the insights
and skills our members need for success in tomorrow’s world.

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A threat to the profession?
No!
 Now is the time to leverage the
power of digital
 It cannot replicate the full
understanding and integrated
thinking of which people are
capable
 Tech can’t build client relationships
or lead successful teams
 Tech doesn’t have emotional
intelligence or ethical judgment
 ….. but we can’t be complacent
and we need to prepare for the
future ahead

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How Does ACCA Deliver Relevant Digital Skills?
 Through the ACCA Qualification
 Through our CPD resources
 Through our latest research on
Machine Learning
 Through our extensive portfolio of
technology research
 Through our partnerships.

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How do we prepare for this future? ACCA Qualification
 Through education, skills and
training
 We already examine digital across
the ACCA Qualification – and
we’re enhancing this offer
 Digital is a vital professional
quotient and our qualification
ensures students are developed
and assessed in digital
 We’re extending our computer
based exams (CBEs) to include
Applied Skills variant exams and
are planning the introduction of
CBEs for our Strategic
Professional exams, starting
March 2020.

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How do we prepare for this future?
 To enhance the wider professional skills
of ACCA members, we’re also introducing
a new Data Analytics unit into in our
Ethics and Professional Skills module.
 Two new technical performance
objectives as part of our PER: advisory
services and data analytics. And we’re
keeping the emphasis on the use of
technologies in achieving PER by
updating the wording of the performance
objectives

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How does ACCA deliver relevant digital skills?
- through our latest research on Machine Learning
• Experts predict that the amount of data
produced globally will explode exponentially in
the next 5-10 years.
• By using machine learning to process this data,
professional accountants have a tremendous
opportunity to migrate to higher value activity.
This includes areas like awareness,
commercial interpretation, ethical judgment
and emotional capabilities.

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How does ACCA deliver relevant digital skills?
- through our latest research on Machine Learning (continued)
 The growth of machine learning offers accountants a great
opportunity by freeing up time to use their unique, high value skills
and make accountants’ careers even more varied, interesting and
satisfying, and increase their influence.
 The digital and emotional quotients are closely interrelated.
Emotional intelligence is increasingly important in the digital age in
working out how to maximise the opportunity offered by advances
in technology. Accountants need to manage technology, how it’s
used and how it’s interpreted.

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How does ACCA deliver relevant digital skills?
- through our CPD resources
Online courses
 Cyber security strategy
 Managing risk in social media
 Social media for accountants
 Big data
 Bad data
 General level formulas for accountants
 Intermediate level formulas for accountants
 2018-19 update: Technology trends for accountants
 Managing social media use
 Cybersecurity - introduction
 Producing and presenting financial information with impact
ACCA learning pathways
 Accountant of the future
 Data analytics
EdX
 Analysing and visualising data with Excel
(optional MS certificate)
 Analysing and visualising data with Power
BI (optional MS certificate)
Free webinars
 FinTech - transforming finance
 Digital transformation of finance leaders
 Blockchain and its application
 Big Data: a guide for accountants
 Data analytics: accountants and the data
revolution
 Connected planning

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How does ACCA deliver relevant digital skills?
- through our extensive portfolio of digital and technology research
 FinTech – transforming finance
 Market change is faster than ever – is your finance
function in the race?
 Cybersecurity – fighting crime’s enfant terrible
 The robots are coming – implications for finance
shared services
 The data revolution
 The professional accountant’s guide to distributed
ledgers and blockchain
 The digital CFO
 The ascent of digital
 Delivering profitable growth – the role of finance
 CFO guide to technology roadmapping
 Constant forward motion: the evolving phenomenon
of cybersecurity regulation and the race to keep up
 Integrating an acquisition – the role of a modern day
finance function
 Analytics in finance
 Lifting the cloud
 Robotic Process Automation in finance
 Social media in finance
 The race for relevance – technology opportunities
for the finance function
 Artificial intelligence in finance
 Cyber risk management in finance
 ICOs: real deal or token gesture?
 Taking advantage of risk and regulatory complexity
 Grow and create competitive advantage
 Embracing robotic automation during the evolution
of finance

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New Advisory Committee

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Lets Shape the future of the
profession through leading in
embracing this opportunity

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Stakeholder impact:
What do we want our stakeholders to think?
 ACCA are thought leaders
 ACCA people are trained in the
relevant digital skills
 I understand this area and the
opportunity it presents for me and my
business
 ACCA is more than just an
accountancy qualification – it’s the
whole package
 ACCA is the right choice for me/my
business
 The ACCA Qualification offers great
career opportunities

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Stakeholder impact:
What do we want our stakeholders to feel?
 Prepared for the changes in this
area
 ACCA is a credible, trusted source
of information in this area
 Confident and reassured that ACCA
is the right choice of qualification
and partner
 Interested and engaged
 Supported

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Stakeholder impact:
What do we want our stakeholders to do?
 Use, recommend and share ACCA
PI research
 Make ACCA their first choice
 Choose the ACCA Qualification
 Find out more with our digital and
technology-focused CPD resources
 Come to us for advice
 Take part in our research
 Use us in media coverage

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Concluding thoughts
 This is a truly transformative time,
there are opportunities ahead for
the profession to continue to add
strategic value
 It’s about how the profession uses
technology to be the strategic
leaders who are trusted and in
demand, the experts who can
balance the digital world with the
real one
 If there is one profession who can
get this balance right, and really
embrace the true power of digital,
it’s accountancy

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Concluding thoughts
 All finance professionals should
keep an awareness of how digital is
evolving and be alert to how
developments could overlap with
their role
 Discussions around machine
learning and AI will continue
 It’s a topic that will only grow in
relevance
 Some will embrace it. Others will
fear it.
 But only the reckless will avoid
finding out more about it

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Questions?

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