Date posted: 29/05/2019 2 min read

Accountancy Futures Machine Learning

Explore the critical issues facing the accounting profession in the latest jointly produced magazine from CA ANZ and ACCA.

In brief

  • Why accounting professionals of every stripe need to take on technological transformation
  • How cyberthreats are evolving and accelerating and who needs to mitigate them
  • What a survey of 8400 people in G20 countries reveals about trust in tax systems

The IT revolution that is surging through every firm and sector is bringing with it an extraordinary breadth of opportunity – and responsibility. The latest edition of Accounting Futures magazine takes an in-depth look at how accountants can embrace the digital future and prosper.

Every finance firm and professional, whatever their specialty, needs to grasp technology with both hands. "It's so important to get ahead of change to understand it and how digital technology is changing the role of finance professionals," says Xero UK managing director Gary Turner. The extensive Innovation section of this edition explores all the latest advances.

As technology gallops ahead, so, too, do its concomitant risks. The issue spells out the A-to-Z of cybersecurity threats, and discusses how CFOs can help mitigate them.

Accounting Futures also looks into a joint report between CA ANZ and ACCA, Cyber and the CFO, which reveals alarmingly low awareness of cyber risk. "As a CFO, you need to appreciate how fast the nature of cyber risks and the types of attack you may face are changing," says ACCA's senior insights manager, Clive Webb. No CFO should miss these findings.

From tech, we pivot to tax and trust. A poll of 8400 people in G20 countries found respondents were inclined to trust tax professionals above politicians and the media.

That's the good news. But there's great room for improvement, and transparency tops the wish list. Survey respondents want to know how and from whom their governments collect taxes, and how the tax take is spent. They want to know what multinationals are contributing, and they're concerned about corruption in the tax system. Don't miss the top takeaways.

ACCA Alliance

Since commencing our strategic alliance with ACCA in June 2016, Chartered Accountants Australia and New Zealand has delivered valuable benefits to our combined 800,000 strong membership of current and future members from 181 countries. Together we continue to explore opportunities to advance public value, drive efficiency and better promote and support our members.

Read more about the alliance