It was great to see lots of people at the event this week. I found it useful and thought provoking when it comes to the future of accountancy and how our world looks in the short to medium term.

Here are some salient quotes that I took from the day:

Panel One: How technology will affect the next decade.

  • “We need to look at what else can we bring to table above the numbers” Abby Obomighie, Head of Financial Planning, Hitachi 
  • “We’ve got to work out what we want to be famous for..” James Poyser, CEO, inniAccounts 
  • “There is a skill set shortage that needs to be addressed as we bring people up the career path and training them in new world skills.. from the bottom up” Kati Arndt, Associate Partner, IBM

Panel Two: Future workforce - Diversity

  • “Leaders need to think...Not do the work there today but focus on where the work will come from tomorrow” Heather Self, Partner, Blick Rothenberg
  • “Accounting is as much a social economic subject... and we need to promote it as bigger than spreadsheets and IFRS regulation” Prof Christopher Humphrey, Manchester Business School
  • “The onus sits predominantly with firms to develop the skills gap and education” Joanne Richie, Head of Early Careers, Grant Thornton 

Panel Three: Future accountancy in the business landscape

  • “The longevity of the professional.. are we really preparing ourselves for the future purchasers of our services?” John Morris, Partner, Smith & Williamson
  • "Perfect storm for change... scared or not, I’m sorry you have got to get with the program..What can we do with the data to create new revenue streams" Becky Shields, Partner, Moore Kingston Smith
  • “You want people who are problem solvers..that will keep us in business in the next ten years. We give away loads of insight, the challenge will be charging for that insight” Scott Knight, Head of Audit, BDO
  • “Bookkeeping, compliance, tax & payroll could be automated.. but you have to bring the clients and staff on the journey” Daniel Teacher, CEO, T-Tech

Now we have all spent the day listening to the above, what do we do next?

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