10. The Future of Accountancy—Beyond the Numbers

The pace of change continues to increase through rapid developments in technology which are likely to transform ways of working in the accounting profession. Whilst some of this change is likely to be evolutionary rather than revolutionary, much of the mundane ‘number-crunching’ and data processing currently undertaken by accountants will be automated over the next few years. This should not be regarded as a threat, but more of an opportunity to embrace the softer skills and more value-added work such as consultancy; advising clients and businesses on how to derive more value from their business models. This will require a change of skill set and an appreciation of the wider issues impacting business ‘beyond the numbers’.