The Association of Chartered Certified Accountants and the Institute of Management Accountants have debuted a new website and research report exploring the future of the accounting and finance profession.
[IMGCAP(1)]The two organizations launched a joint website, The Future Today, and a joint research report on social, mobile and cloud technologies, “SoMoClo technologies: Transforming how and where business takes place.”
The ACCA/IMA research initiative was first announced last November with the goal of giving accounting and finance professionals insights on what the future means for the global profession. The work is anchored by The Future Today website, housing joint research from ACCA and IMA, along with blogs, guest commentary, and other interactive features.
“Through this new platform we aim to inform, educate, and raise the debate about the future world of finance, business, and accountancy,” said ACCA chief executive Helen Brand in a statement.
The new website aims to engage senior leaders in business and finance, as well as academics and political decision-makers, taking a wide view of issues that matter for the profession, along with global business and society.
“Ultimately, this new initiative is about serving the public interest and enhancing the capability of CFOs and their teams everywhere,” said IMA president and CEO Jeff Thomson. ”The accounting profession has a responsibility to create and nurture stronger and more ethical organizations, and we at IMA and ACCA are happy to be part of this charge with a unique focus on future challenges and opportunities.”
[IMGCAP(2)]The initial research report on the new site, SoMoClo, offers predictive insights about the effects of social, mobile, and cloud technologies. It covers the views of more than a dozen senior finance leaders from global organizations such as Deutsche Bank, Deloitte, Intuit and Microsoft.
“While these converging technologies can unleash business possibilities, people—not technology—will be central to the process,” said Brand. “As a result, finance professionals will change and evolve.”
The report notes that while social, mobile and cloud technologies have been embraced by marketing and human resources teams, the finance function appears to be behind the curve in terms of adoption, perhaps due to risk management.
“CFOs and their teams have the opportunity and the obligation to ensure that the organization both understands the transformational nature of information technology on the value chain, and, the risks such as information security including cyber-breaches from broader data access,” said Thomson.
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