The future of accounting swaps figures for value

THE VALUE of professional accountants will soon be determined by their ability to interpret corporate data produced and processed by Artificial Intelligence tools.

“We might even see the position of Chief Financial Officer be replaced by Chief Value Officer – as the ultimate career goal of a Professional Accountant (SA),” says Prof Rashied Small, the Executive of the Centre of Future Excellence at South African Institute of Professional Accountants (SAIPA).

“Traditionally responsible for the majority of accounting functions throughout the lifecycle of any business, a Professional Accountant (SA) needs to continuously add to their already extensive set of skills.”

According to Prof Small, the latest skills that a Professional Accountant (SA) needs to learn revolve around infonomics and sustainability.

“Infonomics refers to the economic value businesses can achieve by turning raw corporate data into a rich platform for strategic decision-making that allows for sustainability,” explains Prof Small.

“Infonomics allows accountants to advise business leaders on producing profits while simultaneously benefiting society, the environment and the greater economy.”

Experts speaking at the virtual SAIPA Accounting iNdaba 2021, scheduled for 2-3 November 2021, will unpack a variety of topics within the theme of infonomics and sustainability, including – among others – how to assess the integrity and quality of data, ethical use of technology, integrated thinking for business sustainability, the dream vs reality status of cryptocurrency, understanding sustainable value creation, taxation in a digital economy, and cybersecurity in a cloud accounting environment.

Contributors to the technical sessions will include Dr Hanlie Smuts – Associate Professor in the Department of Informatics at the University of Pretoria, Raj Dhanlall – board member of the South Africa Chapter of the Association of Certifi ed Fraud Examiners (ACFE), Helena Strauss from the International Atomic Energy Agency (IAEA), Jashwin baidoo – an admitted attorney of the High Court of South Africa, and Ettiene Retief – Chairman of the National Tax and SARS Committee at SAIPA.

To add perspective and breadth to the technical depth of the iNdaba programme, business celebrity Vusi Thembekwayo, futurist John Sanei, legal expert Emma Sadleir, and sayit-like-it-is Prof Jonathan Jansen have also been secured as speakers.

“We are grateful and proud that the SAIPA Accounting iNdaba is considered as an investment opportunity by several high-profi le sponsors,” says Shahied Daniels, Chief Executive of SAIPA.

“Standard Bank and Xero are the two platinum sponsors, Sage has taken up the gold sponsorship, Draftworx and Syspro are on board as silver sponsors, and bronze sponsors are Bridgement, PPS, and CAMAF. Other iNdaba sponsors include the Department of Accountancy at the University of Johannesburg, CaseWare Africa, AdaptIT, and AssetSure.”

“With the ever-increasing speed of change, if you fall even just one step behind others, you will most probably not have time to make up for the lack of knowledge and experience later,” says Daniels.

“It is the responsibility of each professional to fi ght against the so-called “Zoom fatigue” we’re all experiencing and continue to attend as many learning opportunities as possible.”

SAIPA ACCOUNTING INDABA 2021

2 + 3 November ONLINE

Register now

The SAIPA Accounting iNdaba 2021 will be held online on 2 and 3 November. More information and registration is available at https://www.saipa. co.za/accounting-indaba-2021/