IMA® (Institute of Management Accountants) is the worldwide association of accountants and financial professionals in business.

1. The Digital
Transformation of
Business Reporting and
the Role of the
Management Accountant
Presented By:
Liv Apneseth Watson, Sr. Director at Workiva, Inc.
IMA Members for over 20 years Is Your New Coworker a Robot?
Shanghai 12-Nov, 2019

2. Table of Content
IMA as a Career Driver
The Role of the Management Accounting in the 4th Industrial Revolution
Key Takeaways
Shanghai 12-Nov, 2019
The 4th Industrial Revolution and the Data Fit for Purpose
The Problem - The Data Challenges

3. 1995
Joined IMA
as a Student
Member
1998
XFRML
Founded
Liv Apneseth Watson
Sr. Director of Strategic Customer Initiatives
Workiva Inc. (NYSE: WK)
2020
2006
" Possible
Second-Wave
Benefits of XBRL"
1999
IMA published
a
"REAP" Course
Titled
"Accounting
Systems
Technology For
the 21st
Century.
"Introduced the
concept of
XBRL" 2000
XBRL Founded
IMA
a Founding
Member
My IMA Career Driver Journey !
2016
IMA Global
Distinguished
Member
Awarded
2002
"XBRL Can
Improve
Today's
Business
Environment
Certificate
of Merit
Lybrand
Silver Medal
2007 IMA
Global
2017
"XBRL AND
THE
CLOUD"
Certificate
of Merit

4. "We stand on the brink of a
technological revolution
that will fundamentally
alter the way we live, work,
and relate to one another. In
its scale, scope, and
complexity, the
transformation will be
unlike anything humankind
has experienced before."
Source: https://www.weforum.org/about/the-fourth-industrial-revolution-by-klaus-schwab
— Klaus Schwab
The founder & Executive Chairman, The World Economic Forum
The 4th Industrial Revolution and the Data Fit for
Purpose for Business and Regulatory Reporting

6. Technology
innovations are
poised to
change the
accounting
profession!

7. For Regulatory Statutory Reporting
For government, regulatory compliance
involves receiving, reviewing, disseminating,
and acting on that information to build trust to
market participants by monitoring safety and
soundness on the individual legal entity level
Only Two Moments Really Matter!
The Moment of RegData Creation The Moment of RegData Use
For the private sector, regulatory compliance
involves compiling information and reporting it,
at periodic intervals or when triggering events
occur, to government authorities.
RegTech SupTech1 2

8. Source: www.workoiva.com
For the Management Accountant 3 Moments Matter!

9. Do We Have a Problem ?

11. Multiple Regulatory and Voluntary Reporting Mechanisms

12. Compliance is a Material Risk

14. Data is meaningless unless it is organised in a way that enables people to understand it, analyse it and
ultimately make decisions and act upon it timely, i.e. by creating digital consumable information.

15. The Role of the Management Accountant - Become Part of the Solution!

16. Where do you want your compliance function to shine:
"On the front page one of the newspaper, or in the eyes of an
approving regulator?"
The difference can be a matter of time..........
Ask Yourself ...

17. The Programmable Business Reporting
Ecosystem

18. Machines can compute massive amounts
of data almost instantaneously.
Humans have the ability to spot
exceptions, analyze and think creatively.
The key is to let them join forces!
Is Your New Coworker a Robot?
Key TakeawayThe Digital Transformation of RegData has already begun !