COVID-19 & the Path Forward: Important information for all accountants within our global accounting network has been highlighted in a recent study by IFAC
The International Federation of Accountants (IFAC) published a paper on November 4th that we encourage all of our member firms to familiarise themselves with.
The impact of COVID-19 is an opportunity for change and evolution
Acknowledging that the crisis will undoubtedly change the accountancy landscape moving into the future, the feature focuses on the positive opportunity all those within the global accountancy profession have to transform the way procedures are conducted, for the benefit of business, government and society in general.
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Three months of extensive research
Noting the importance of a collective strive towards progress in the field, IFAC spent three months conducting research with dozens of people associated with the profession across more than 20 countries, each with their own perspectives, commenting that “By convening these various stakeholders, we set out to understand the implications of the pandemic for professional accountants and leaders, and how their experiences will affect the future of accountancy and, more specifically, accountancy skills.”
Key discussions in the paper
Key themes shared by the stakeholders including accelerated ways of working, the impact of technology, practices that align to new societal demands, and the right balance of skills, which collectively illustrate a roadmap for the professional accountant, are all discussed in depth within the paper.
We once again encourage all MGI Worldwide and CPAAI accounting group members to read this paper and embrace the potential for positive change coming out of a situation none of us could have foreseen.
MGI Worldwide with CPAAI is a top 20 ranked global accounting network and association with almost 10,000 professionals, accountants and tax experts in some 460 locations in over 100 countries around the world.