DIGITAL ERA AND THE CHARTERED ACCOUNTANCY PROFESSION – SURVEY REPORT 2017
TECHNOLOGY has been a disruptive force in recent times; albeit the world disruption has positive connotation in regard to the disruptions driven by technology. Such disruptions have resulted in the professionals and users of technology realigning and recalibrating for future. This is applicable not only to the newer dimensions of doing business but also to support services providers to the businesses. Equally crucial has been the reflections of technology on the working of the accountancy firms as Enterprise Resource Planning, Big data, Cloud computing, Artificial intelligence, Internet of Things, Drones, Robots and the emerging interface in the workings of a typical chartered accountancy firm which are equitably perceptible.
Firms and professionals who embrace to newer technological challenges and the newer dynamics fast will have a head start in this evolving era. Initial reaction may reflect complexities and resultant impact arising out of such technical innovations. However, such innovations bring with them a new twilight zone of opportunities which are waiting to be explored.
The Institute of Chartered Accountants of India has been endeavouring to equip its members and firms to such emerging dynamics through organizing Pan India programs and realizing the potential ramification of technology to professional working of a typical chartered accountant; the ICAI had put in place the Digital Accounting and Assurance Board as a nonstanding Committee for identifying, deliberating and putting forth such accounting (including valuation) and assurance (including internal audit) in the digital world related issues for further deliberations within the Standard setting boards within ICAI for taking up such matters at global forums. “Digital Era and the Chartered Accountancy Profession – Survey Report 2017” is a crucial step to take the pulse of the challenges profession faces in digital era, and making the profession digital ready.
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CA. Nilesh S. Vikamsey
CA. Naveen N. D. Gupta
Vice President, ICAI
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