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95% (Very high risk) for Chartered accountants within the next 20 years according to a study by researchers at Oxford University and Deloitte says BBC article.
recently a lot has been written about this in the press; but all accountancy bodies are quiet (mysteriously) about this very important issue. we students have been spending so much time and money not to get redundant within 10 years or even less. I think all accountancy students(no matter which body they belong to) should come together and pressurize their respective accountancy bodies to come out of hibernation and give some policy statement regarding their road map to protect this profession and our livelihoods. they are making tonnes of money from us and doing nothing to protect us.
our industry is always changing due to technology
but, to develop a robot that can advise on differing situations and client requirements will take years, if ever. Maybe some bookkeeping can be automated, but i think we would all prefer that anyway
I don’t think the majority of journalists really understand that complexity and breadth of our profession enough to make sweeping statements such as the above
It’s certainly a tipping point for many similar professions: online education replacing professors, online automated tax solutions, inexpensive legal software replacing lawyers,moreover non-creative, numerical, rules based jobs WILL BE SUBSTANTIALLY ELIMINATED very soon, to the degree that accountants have to discover totally new ways to add value to backfill these significant reductions in revenue, or risk being marginalised.
threshold competencies have shifted, the profession and inviduals within it must think ahead and expect change.
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