As the profession and the careers within it evolve, so do the skills that professional accountants need. That’s why the ACCA Qualification integrates technology, digital and data throughout the exams at all levels, together with EPSM and PER. Our goal is to ensure that future generations of accountants are prepared to understand the technologies, impact, opportunities and risks for organisations.

Evolving skills for professional accountants

We know that it’s essential to have a good understanding of the technical aspects of artificial intelligence (AI), digital, technology and data. But a key consideration for accountants in this digital age is how to use data effectively and ethically. We have an abundance of data available to us, but it’s critical that accountants understand how to utilise this to make effective, accurate and relevant accounting judgments. This requires a solid grounding of not just the technical aspects of data, digital and technology, but also to consider for example, the source of the data, its reliability, any ethical concerns in reporting the data, to name just a few.

Integration of digital, data and technology in the ACCA Qualification

We cover this in a number of ways. Digital, technology and data are fully integrated into the ACCA Qualification and include:

  • AI
  • data analytics
  • cloud computing
  • machine learning
  • robotic process engineering
  • fintech

Real-worls scenarios in exams

We present students with question scenarios which reflect current influences on the profession, such as AI, data analytics and machine learning, and how they are being used by organisations. We have asked students to:

  • Critique the variables proposed for a predictive model
  • Assess the impact of output from a data model on employee behaviour
  • Evaluate the ethics of data mining and its use
  • Perform quantitative analysis using probability and methods of dispersion
  • Analyse the impact of data breaches, security layers and controls
  • Use data analytics to assess cost leadership
  • Assess investment in social media analytics
  • Evaluate the use of AI in simulation software and e-commerce.

The scenarios presented are varied with airlines, computer gaming, examination predictive models, cloud IaaS provider, all included, ensuring that students are exposed to a wide variety of industries for consideration.

Data analytics in our EPSM and performance experience objectives

To support the development of the necessary rounded view, we added a data analytics unit into our Ethics and Professional Skills module. This unit is intended to give students an appreciation of the importance and usefulness of data analytics to business and how it can be applied to the accountant’s role.

The unit explains how to use commercial awareness to articulate business questions, and then identify, manipulate, and analyse relevant data by applying appropriate techniques. Following sceptical analysis of the data, valid conclusions can be drawn, and recommendations made. The unit also explains how findings from analysis should be effectively visualised and communicated and finally it considers the ethical and security issues associated with data analytics.

And of course, these topics are covered by our performance experience objectives. We have a specific objective on data analysis and decision support where students are asked to demonstrate how they have been able to analyse data and use commercial acumen to articulate business questions to resolve problems. Students are expected to draw clear conclusions and present findings to enable relevant stakeholders to make sound business decisions.

It’s how we make sure that ACCA students and members are future-ready for everything their careers demand.