Today’s era has completely shown that technology can go hand in hand with the workforce. All thanks to the willingness of the people to adapt to artificial intelligence and other emerging technologies, business processes were streamlined.
Looking at the accounting industry in the Philippines, it’s clear that technology and software play a significant role in efficiency and productivity. Even the Professional Regulatory Commission (PRC) said that accountants should embrace digital and tech skills. Those are already clear indications of the urgency of going digital.
In a report done by The Philippine Star, PRC Board of Accountancy chairman Noe Quiñanola said pursuing further education is still needed so that accountants can learn new digital skills that could aid them with their jobs despite them already acquiring digital skills even before board exam. Further education is necessary due to emerging technologies, such as automation in the accounting industry.
“The actual training for more skills as far as digitalization is concerned comes after (the board exam). That’s why we have continuing professional education so that we can be equipped with more skills because the skills that we get, of course, the basic things, they learn in college,” Quiñanola said via The Philippine Star.
“But the more refined skills, they should learn when they become CPAs (certified public accountants) already…So, we support fully continuing professional education,” he added via The Philippine Star.
On top of this, markets manager for emerging markets for Southeast Asia at the Chartered Institute of Management Accountants (CIMA) Edmund Liaw said a huge number of accounting jobs are going to be affected with AI and automation, but that doesn’t mean accountants should fear of losing their jobs. Actually, Liaw said that accountants should not see technology in a negative light, and what must be done instead is to master it for efficiency, productivity, and more opportunities overseas.
There’s no denying that acquiring digital and tech skills are necessary for accountants. Technology has come a long way and adapting it can help boost efficiency and productivity, especially those programs that harness the power of AI and automation. On top of that, learning these skills will help accountants have more opportunities overseas.
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