Technology leaves no stone unturned, disrupting sectors and professions, and in turn fuelling cycles of adaptation and survival.

The accountancy profession is not immune to disruption and has come a long way from the traditional manual bookkeeping to processes aided by accounting software.

“The evolution is ongoing and today the accountancy world is developing into one within a digitised business environment with new platforms and technologies such as blockchain, cryptocurrency, big data and artificial intelligence including rigorous analytics,” says William Spiteri Bailey, Malta Institute of Accountants president.

Such technological advancements should not be seen as conflicting with the accountancy profession – rather, they give accountants a greater capacity to advance their roles as trusted, value-added advisors and analysts.

“Future accountants will increasingly need education in digital technology and analytics. Knowledge of digital technology is the key competency area where professional accountants might have skill gaps today,” says Mr Spiteri Bailey.

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