Challenges and role of the accountant of the future
DOI:
https://doi.org/10.35774/visnyk2025.01.126Keywords:
ethics of the accounting profession, digitalization of accounting data, blockchain, accounting of the future, ERP systems, artificial intelligence, ESGAbstract
Introduction. The accounting profession is undergoing significant transformations under the influence of technological progress, digitalization, automation of accounting processes, and changes in the requirements for specialists’ competencies. The implementation of innovative technologies and the development of artificial intelligence are reshaping traditional approaches to accounting activities, necessitating the identification of key challenges and trends in the future development of the accounting profession.
Research aim. To identify key changes and challenges that will impact the accounting profession in the coming years, analyze the influence of digital technologies on accounting and management activities, and outline new competency requirements for accountants.
Methods. The study applies methods of analysis, synthesis, and generalization of scientific sources, which allowed for identifying key trends in the development of the accounting profession. A critical review of contemporary challenges faced by accountants in the process of digital transformation was conducted.
Results. The study is a review and opens further possibilities for exploring the future development of the accounting profession. The authors focused on a critical analysis of major trends, including: the impact of modern technologies, particularly artificial intelligence and ERP systems, on changes in accountants’ daily duties; the increasing role of data analytics in accounting activities, which enhances the significance of consulting, strategic management, and financial analysis functions; new competency requirements for future accountants, driven by dynamic market changes, increased cross-border cooperation, and the globalization of accounting processesThe key challenges accountants will face in the future: technological adaptation, management and security of large data volumes, compliance with ethical and regulatory standards, ensuring sustainability (ESG), as well as the development of communication skills and consulting. These challenges necessitate the formation of a more flexible and versatile specialist capable of adapting to rapid changes in the financial sector. From an accounting science perspective, the role of the future accountant should evolve, becoming increasingly interdisciplinary and strategic. The key factors influencing the transformation of the accounting profession have been identified, including the digitalization of accounting data, the use of blockchain technologies, automation of accounting processes, the growing role of financial analysis, increased ethical requirements in accounting activities, and the implementation of sustainability (ESG) concepts. It has been revealed that the future accountant should combine the functions of an accountant, financial analyst, consultant, and strategic manager.
Prospects for further research. Future research may focus on an empirical analysis of accountants’ readiness for new challenges in digital transformation, the development of educational programs, and professional standards aimed at forming key competencies for future specialists.
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