The Future of the Accountancy Profession Brought to Life at ACCA Virtual Conference

In the upcoming annual Accounting for the Future global conference, held by ACCA, some issues like sustainability, global business service modelsandcorporate culture are expected to be discussed. This conference will be held on 15-18 September 2014. The topic of each day is described below:

Monday-15 September: Risk and Culture – how does the corporate culture affects the risk management and governance?

Tuesday-16 September: Investors and Reporting – a new reporting framework

Wednesday-17 September: Today’s world – how are the changing economies affect finance professionals

Thursday-18 September: The smart finance function – how smartly finance professionals could lead businesses towards success

Corporate culture is the main topic to be discussed in the conference, recent happenings in the banking sector and hospitals are under consideration where poor corporate culture causes problems. Consequently Financial Stability Board assumes the risk culture to be discussed and board of financial institutions would be requested to evaluate their organizational cultures. The environment, its sustainability and the operations’ impact on it is also likely to be discussed. Another important issue to be discussed is the reporting framework companies adopt to show their financial results and the impact they create on the users’ decision making.

On the last day, all issued discussed would be evaluated to establish whether all aspects relating to these issues are discussed including their potential benefits, opportunities and threats.

Technology makes profession of finance and accounting more dynamic. We need to keep ourselves up-to-date and see how these changes could be favorable for us and our profession as a whole. This will lead to establish a stronger economy and as well as will enable the first one getting up-to-date knowledge to be the leader, stated by the head of futures research at ACCA, Faye Chua.

The conference intends to organize this meeting each year to discuss issuesrelevant to the finance profession.