Society management

Accounting can shape future economies and society: ACCA report

Accounting has an important role to play in shaping the future of businesses and society as a whole, according to a new report from the Association of Chartered Certified Accountants.

The report “Accounting for a better world” explores how the accounting profession can drive fairer and more sustainable business policy in the future, as well as seven areas where accounting can positively impact the business world and beyond.

These seven pillars include:

  • Building resilient economies;
  • Developing the talents of tomorrow;
  • Conduct a sustainable business;
  • Advance standards and regulations;
  • Transforming the public sector;
  • Support entrepreneurial growth; and,
  • Strengthen ethics and trust.

“In these challenging times, this report looks to the future and considers the priorities facing the accountancy profession to help create a better future,” ACCA chief executive Helen Brand said in a statement. “By sharing stories and examples from across the profession, we also seek to provide a cautious but overriding note of hope for the future, highlighting the role of accountancy and the positive contribution that accountants can make in paving a new path to a better destination for the world’s society.”

Helen Brand, ACCA Chief Executive

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“We have a responsibility to future generations to ensure that they inherit a better world,” said Jamie Lyon, report author and head of business management at ACCA, in a statement. “As this report shows, the accountancy profession can play a vital role in this regard, helping to create a fairer, greener and more inclusive world for the future.”

The report also highlights Gen Z accounting professionals and their perception of the modern workplace. Their reviews include:

  • 91% believe they will update their work skills to remain employable in the future;
  • 81% say their peers appreciate a high salary and a prestigious job title;
  • 64% expect to have different jobs in several disciplines during their career;
  • 58% cite job security as a concern;
  • 51% cite mental health and well-being as a concern;
  • 48% believe that work-life balance is a key factor for their job.

For the full report, visit the ACCA website here.