global. influential. trusted. · 2. accounting, bookkeeping and payroll clerks. 3. administrative...
TRANSCRIPT
![Page 1: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/1.jpg)
IFAC Council MeetingNovember 13-14, 2019Vancouver, Canada
Global. Influential. Trusted.
![Page 2: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/2.jpg)
Page 2
Technology Panel 1
2020 is HereFurther Supporting the Profession
![Page 3: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/3.jpg)
Page 3
Objectives of TAG
• Identify Technology and Digitalization trends of most relevance to the profession
• Align to IFAC Gateway, Standard-Setting Boards and other Advisory Groups
• Collaborate with member bodies to raise awareness
2020 is Here – Further Supporting the ProfessionPhilippe Arraou
![Page 4: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/4.jpg)
Page 4
Roadmap of TAG
• A : Artificial Intelligence
• B : Blockchain
• C : Cyber Security, Crypto Currencies
• D : Data
2020 is Here – Further Supporting the ProfessionPhilippe Arraou
![Page 5: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/5.jpg)
Page 5
Activities of TAG
• Videos, Papers, articles on IFAC Gateway
• Webinars : Data Analytics (Oct 2018)Cyber Security (March 2019)Audit Transformation : in-coming
• Connecting with : IBM, Microsoft
2020 is Here – Further Supporting the ProfessionPhilippe Arraou
![Page 6: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/6.jpg)
Page 6
Use the panel’s expertise and experience to better understand:• today and tomorrow’s technology environment our
professionals are facing – and the support they’ll need• where to best focus your efforts and resources• what else further can IFAC do to support you
2020 is Here – Further Supporting the ProfessionPhilippe Arraou
![Page 7: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/7.jpg)
Page 7
Introducing your panel– Kevin Teo – Associate Partner, Technology Risk
Practice Leader, Ernst & Young– Chad Davis – Partner & Co-Founder, Live CA LLP– Anne Marie Vitale – Chair, International Accountancy
Education Panel
Save up your questions – we’re using www.slido.com
2020 is Here – Further Supporting the ProfessionPhilippe Arraou
![Page 8: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/8.jpg)
IFAC Technology PanelThe world we now live in2019-11-14
![Page 9: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/9.jpg)
Page 9
Agenda
Kevin Teo, CISA, CISSPAssociate Partner, Technology Risk
+1 604 891 [email protected]
► Technology today
► Reshaping the Profession► Why – Changing risk universe► WHAT – The need to adapt► HOW – Three potential focus areas
![Page 10: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/10.jpg)
Page 10
First Industrial Revolution
Mechanical
1700s
Technology used steam and water to power the first factories.
Second Industrial Revolution
Electrical
1800s
Electricity made possible the division of labour and mass production.
Third Industrial Revolution
Automated
1900s
IT enabled programmable work and an end to reliance on manual labour.
Connected
Fourth Industrial RevolutionToday
Cyber-physical systems, powered by IoT and fuelled by data, create a fully interconnected society.
We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced beforeKlaus Schwab – World Economic Forum, 2016
“”
![Page 11: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/11.jpg)
Page 11
Maturing, emerging, and future technology trends
Digital capability Intelligence andproductivity
Platforms andaccelerators Security and privacy Next gen experience Connected everything
Futu
re
Watch list
Early days, mostly conceptual, vague scope, no commercial products yet, prototypes at best
Algorithm marketplaces
Brain-computerinterface (BCI)
Li-Fi
Quantum computing
CubeSats
Emer
ging
Mainly research and some experimentation
First wave of commercial products available,scope solidifying, not yet widely affecting mainline product portfolios, initial and scattered use cases
Future of work
Multi-speed IT
Autonomous vehicles Blockchain and distributed ledger platform
Multidimensional printing
Neuromorphic computing technology
Bio or gestural interfaces
Conversationaluser interface (CUI)
Immersive technologies
Adaptive learning Internet of Everything
Smart citiesIntelligent automation
Smart robotics
Smart digital assistants (both personal and customer service)
AI/ML systems
Mat
urin
g
Research and experimentation
Significantly changing the landscape of vendor offerings, mature product offerings; practical use cases exist
Digital transformation
Smart wearables
Augmented analytics Everything-as-a-Service(XaaS)
Platform approachSoftware-definedinfrastructure
Adaptive security
Data privacy and compliance
Cybersecurity
Gamification
Intelligent drones
Social collaboration
![Page 12: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/12.jpg)
Page 12
Risk in Focus 2019
Cyber SecurityIT Governance & Third Parties
Auditing the Right RisksTaking a Genuine Risk-Based Approach
SustainabilityThe Environment, Climate Change & Social Ethics, Economic stability
Communications RiskProtecting Brand & Reputation
Digitalisation, Automation & AITechnology Adoption Risks
Risk Governance & ControlsAdapting to external and strategic changes in a global business environment
A New Era of TradeProtectionism & Sanctions
Workplace CultureDiscrimination & Staff Inequality
InnovationAbility to adjust to new customer preferences
Data ProtectionStrategies in a Post-GDPR World
Anti-Bribery & Anti-CorruptionCompliance
Sources: EY Benchmark Survey 2018, IIA report Risk in focus 2019
![Page 13: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/13.jpg)
Page 13
RPACase study: a company’s payroll process
Validation of net pay as per SAPbatches and bank transfer report
Verification of payment batches inSAP post-validation checks
Reconciliation of control totalbetween bank transfer report and
payroll control summary
Validation of bank account numbers ofemployees in the payment batch files
Consolidation of all SAP batchesand validation of net pay with the bank
transfer report
Approved batches sent to bank fordisbursement via SAP
Four out of five critical controls in a payroll process were eliminated with RPAdeployment.
Risks emanating from this deployment
1
2
3
4
Bots configured with incorrect rule sets resulting in duplicatesalary processing
Inadequate governance/reviews around bot outputs resulted indilution of controls against manual controls adopted earlier
SOX 404 documents were not updated with the revised control framework, resulting in control failures being reported
Review parameters considered by the Payroll Manager werenot effectively codified in the bots, thereby weakening thecontrol system
Overall, the deployment of RPA in thisprocess resulted in a far greater dilution of the overall controlenvironment and enhanced the riskprofile of an otherwise tightly controlled process with an impact on SOX 404 certifications.
![Page 14: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/14.jpg)
Page 14
Reshaping the profession
What?
How?Why?
![Page 15: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/15.jpg)
Page 15
The changing risk universe
Risk universe
LegalRegulatory
Code ofconduct
Major initiatives
Mergers,acquisitions &
divestitures
Governance
Tax
Capitalstructure Mark
et
Productdevelopment
People/ HR
Informationtechnology
Sales and marketin
g
Compliance
Strategic
Marketdynamics
Accounting&
reporting
Operations
Liquidity& credit
FinancialPlanning & resource allocation
Communica-
tion & investor relations
Revenue cycle
Hazards
Assets
Delivery
Automation displacing and supplementing human labor
Fraudulent social media posting impacts short term revenues
Data privacy breach triggers regulatory fine
Takeover bid leaked through LinkedIn conversations
Why?
![Page 16: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/16.jpg)
Page 16
The profession needs to adaptWhat?
Our new
reality
New roles and skills required
Increased penalties for breach of regulations
Fragmented data across business functions
Innovation and rapid development in technology space
New markets and products
Digitalization - moving to digital processes and business models
Big data, less insights, new threats
Complex processes and disintegrated systems
Disruptive technologies and changing business models
New operating models
![Page 17: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/17.jpg)
Page 17
Three potential focus areas1 2 3
Technical skills to understand systems
and technology.
Impact of technology on the delivery and
consumption of financial information
and standard-setting.
Changing workforce dynamics will require
the profession to develop more flexible,
adaptive and collaborative work
environment
How?
![Page 18: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/18.jpg)
How will our PAOs support their members in an ever changing modern world?
![Page 19: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/19.jpg)
VIRTUAL CPA FIRMRunning a professional services firm in the digital
age
![Page 20: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/20.jpg)
VISION
Life > Work
![Page 21: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/21.jpg)
21
2013
![Page 22: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/22.jpg)
22
2013
“Our mission is to be a profitable, remote CPA firm that’s both a great place to work and delivers a great customer experience. LiveCA will be a place where people work normal hours,
make a good living, treat each other with respect, support one another, and have autonomy over their own lives.”
That means having coverage for every role along with the right balance of oversight and support. It means that we won’t freak out when people leave and we’ll be able to replace them
quickly without overstraining those around them. It means we can take vacations without stressing about who’s going to handle our workloads. It means we can stop stressing about our
bank account each month and that we’ll have enough buffer to access additional resources when needed. Finally it means we won’t forget the customer and will consider the impact on a
great customer experience when making our decisions.
![Page 23: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/23.jpg)
23
❖70 Full time remote employees
❖First virtual firm in Canada to officially
certify CPA’s
❖Average client pays >$25,000/yr
❖400+ corporate customers
❖Clients are funded start-ups or
>$1.5M in revenues
❖No hourly billing, priced up-front.
❖Online tools only (no desktop)
TODAY
![Page 24: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/24.jpg)
24
![Page 25: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/25.jpg)
Our Route2017-2019
![Page 26: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/26.jpg)
![Page 27: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/27.jpg)
![Page 28: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/28.jpg)
28
![Page 29: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/29.jpg)
![Page 30: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/30.jpg)
FIRM STRUCTURE
![Page 31: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/31.jpg)
© 2018 Adventure – Presentation template31
Partner vs. Company Model
Office vs. No Office
![Page 32: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/32.jpg)
32
Partner Model
• Partners
• Individual formula for partner distributions
• No employee participation
• Distribution of funds
• Partnership is the end goal
• Leadership team
• Salary and bonus structure
• Stock options
• Reinvestment for growth
• Vision is the end goal
Company Model
![Page 33: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/33.jpg)
![Page 34: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/34.jpg)
Internal Workflow
![Page 35: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/35.jpg)
35
Applications
![Page 36: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/36.jpg)
36
Procedures
![Page 37: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/37.jpg)
Remote Hiring
![Page 38: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/38.jpg)
38
Hiring Process
JOB AD
APPLICATION
ONE-WAY VIDEO
![Page 39: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/39.jpg)
39
VIDEO INTERVIEW
TRIAL WORK DAYS
![Page 40: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/40.jpg)
40
Employee Lifecycle
Value
Hiring
Onboarding
Support
Offboarding
![Page 41: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/41.jpg)
Episode 178 – Remote Hiring
![Page 42: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/42.jpg)
Culture
![Page 43: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/43.jpg)
Costa Rica
![Page 44: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/44.jpg)
Red Rock Canyon
![Page 45: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/45.jpg)
Bear CampInterior ofBritish Columbia
![Page 46: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/46.jpg)
Greece
![Page 47: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/47.jpg)
Bora Bora
![Page 48: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/48.jpg)
Private IslandNova Scotia
![Page 49: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/49.jpg)
Cross CanadaRV Tour
![Page 50: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/50.jpg)
50
Closing Points
SMPs are changing rapidly
They require a different type
of technical support
They also need legislative
help to operate
virtually/globally
Next phase is in your hands
![Page 51: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/51.jpg)
FOLLOW THE RV TRIP
@chaddaviscdn
@chaddavis
![Page 52: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/52.jpg)
IFAC Council MeetingNovember 13-14, 2019Vancouver, Canada
Global. Influential. Trusted.Anne-Marie Vitale, ChairInternational Panel on Accountancy Education
![Page 53: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/53.jpg)
Page 53
Shape the Future
The Future of Jobs Report 2018World Economic Forum
![Page 54: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/54.jpg)
Page 54
Jobs Landscape 2022
133 Million
75 Million
Emerging roles, global change by 2022
Declining roles, global change by 2022
![Page 55: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/55.jpg)
Page 55
Top 10 Emerging
1. Data Analysts and Scientists2. AI and Machine Learning Specialists3. General and Operations Managers4. Software and Applications Developers and Analysts5. Sales and Marketing Professionals6. Big Data Specialists7. Digital Transformation Specialists8. New Technology Specialists9. Organizational Development Specialists10. Information Technology Services
Top 10 Declining
1. Data Entry Clerks2. Accounting, Bookkeeping and
Payroll Clerks3. Administrative and Executive Secretaries4. Assembly and Factory Workers5. Client Information and Customer Service Workers6. Business Services and Administration Managers7. Accountants and Auditors8. Material Recording and Stock-Keeping Clerks9. General and Operations Managers10. Postal Service Clerks
Jobs Landscape 2022
![Page 56: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/56.jpg)
Page 56
• A new approach to advancing accountancy education at the global level
How is IFAC Proactively Engaging?
Click on the image to watch the video
![Page 57: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/57.jpg)
Page 57
• PAOs contributing actively to the development of a future-ready profession• Relevant, reputable, valued
• Accountants meeting the needs of business• A profession that attracts diverse new talent
International Panel on AE
Key Outcome for AE
![Page 58: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/58.jpg)
Page 58
Accountants doing the same
things
Accountants doing the same things differently
Accountants doing different
things
International Panel on AE
Evolution to Revolution
Evolution
Revolution
![Page 59: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/59.jpg)
Page 59
• Embrace and take advantage of the disruption andimplications for the profession—the revolution• Facilitate dialogue: how big is our TAM?
• Let stakeholders know that accountants remain relevant,reputable, and valued• Promote a profession that embraces and takes advantage of
disruption and attracts diverse talent
International Panel on AE
Speaking Out
![Page 60: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/60.jpg)
Page 60
• Support the evolution—accountants doing the samethings differently• Develop / leverage knowledge• Build capacity
• Take action to re-imagine the profession—accountantsdoing different things• Develop / leverage thought leadership
International Panel on AE
A Future-Ready Profession
![Page 61: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/61.jpg)
Page 61
• Promote the adoption of IES• Support the implementation of the most recent set of IES
• Leverage technology—New e-tool• Build PAO capacity
• IFAC PAO Capacity Building Program
International Panel on AE
High Quality International Standards
![Page 62: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/62.jpg)
Page 62
How are you changing your business model
A call on PAOs
![Page 63: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/63.jpg)
Page 63
Accountants doing the same
things
Accountants doing the same things differently
Accountants doing different
things
The time to shape the future is now
• Small automation • Visualization for insights• Communication technologies• Increase in self-learning• Infinite learning days, digital
accelerators, badges
• To be defined by the actions taken today
• How big is our TAM?
Evolution
Revolution
• Excel• Manual gathering, extraction
& manipulation• Reconciliation• Decisions based on samples• Classroom-based, prescribed
learning – one size fits all
![Page 64: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/64.jpg)
Page 64
Accountants doing the same things
Not a viable option
![Page 65: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/65.jpg)
Page 65
Call on PAOs
Take Action Today
Mobilize stakeholders;
engage experts
Implement new IES; LOs aligned
with emerging roles
Facilitate up-/re-skilling
Prepare to sustain in the new normal
![Page 66: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/66.jpg)
Page 66
![Page 67: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/67.jpg)
www.ifac.org
@InternationalFederationOfAccountants @International Federation of Accountants@IFAC
Copyright © 2019 by the International Federation of Accountants (IFAC). All rights reserved.
![Page 68: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/68.jpg)
Page 68
Technology Panel 1
SUBMIT YOUR QUESTIONS VIA SLIDO – INSTRUCTIONS Using your phone/mobile device
Go to www.slido.comEnter the code: #2915Type in your question
2020 is Here – Further Supporting the ProfessionPhilippe Arraou
![Page 69: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/69.jpg)
Page 69
Concluding Remarks
2020 is Here – Further Supporting the ProfessionPhilippe Arraou
![Page 70: Global. Influential. Trusted. · 2. Accounting, Bookkeeping and Payroll Clerks. 3. Administrative and Executive Secretaries 4. Assembly and Factory Workers 5. Client Information and](https://reader033.vdocument.in/reader033/viewer/2022043001/5f7b582e6f37e158ce4a0c50/html5/thumbnails/70.jpg)
www.ifac.org
@InternationalFederationOfAccountants @International Federation of Accountants@IFAC
Copyright © 2019 by the International Federation of Accountants (IFAC). All rights reserved.