Accounting can shape future economies, society: ACCA report

Accounting has a large role to play in shaping the future of business and society at large, according to a new report from the Association of Chartered Certified Accountants.

The report, "Accounting for a better world," explores how the accounting profession can drive more equitable and sustainable business policy in the future, as well as highlights seven areas where accounting can positively affect the business world and beyond.

These seven pillars include:

  • Building resilient economies;
  • Developing the talent of tomorrow;
  • Driving sustainable business;
  • Advancing standards and regulation;
  • Transforming the public sector;
  • Supporting entrepreneurial growth; and,
  • Strengthening ethics and trust.

"In these difficult times, this report looks ahead and considers the priorities facing the accountancy profession in helping create a better tomorrow," said Helen Brand, ACCA’s chief executive, in a statement. "By sharing stories and examples across the profession, we also seek to strike a cautious yet prevailing note of hope for the future, showcasing the role of accountancy, and the positive contribution accountants can make in forging a new path to a better destination for global society."

ACCA chief executive Helen Brand
ACCA chief executive Helen Brand
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"We have a responsibility to future generations to ensure they inherit a better world," said Jamie Lyon, report author and head of business management at the ACCA, in a statement. "As this report demonstrates, the accountancy profession can play a vital role in this, helping deliver a more equitable, green and inclusive world for the future."

The report also highlights Gen Z accounting professionals and their perception of the modern workplace. Their opinions include:

  • 91% believe they will update their work capabilities to remain employable in the future;
  • 81% say their peers value high pay and a prestigious job title;
  • 64% expect to have different jobs across multiple disciplines in their careers;
  • 58% cite job security as a concern;
  • 51% cite mental health and well-being as a concern;
  • 48% believe work-life balance is a key factor for their employment.

For the full report, head to the ACCA's site here.

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