ACCA outlines key priorities for accountancy success

The Association of Certified Chartered Accountants (ACCA) has released a checklist outlining the key priorities for achieving success in the accountancy profession in the new year.

The checklist is aimed at accountancy professionals, business leaders and policy makers and consists of a wish list to help professionals deal with uncertainties in 2017, including the upcoming negotiations over Brexit.

Priority

ACCA has placed much focus on skills in the checklist, stating that the skills of accountants need to be secured and that qualification innovations, apprenticeships and professional career pathways must be a priority for 2017 to help tackle the problem of businesses losing skilled workers.

The checklist also states that accountants need to address rapidly changing business needs and that transferable skills within apprenticeships need to be promoted.

According to ACCA, reliable financial advice also needs to be available as negotiations over Brexit are entered into and Article 50 is triggered.

Vital

Commenting on the checklist, ACCA UK Head John Williams said that the focus on skills in the wish list reflects the increasingly crucial role that professional accountants play in the UK economy.

He added: “Accountancy professionals must gear up for years of uncertainty and build upon existing competencies to offer trusted, technically advanced advice as businesses prepare to navigate changing trade relationships, new regulatory environments and put together reliable financial forecasts.”

With businesses preparing for the Apprenticeship Levy, which is set to come into action in 2017, Williams also stated that the success of apprenticeships is going to depend on supply and demand if they are to be successful in opening up new career pathways that are of a high standard.

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