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ACCA and IMA Explore Future Challenges Facing the Accounting Profession

Tuesday, September 15, 2015

Maemalynn Meanor
Stern + Associates
(on behalf of IMA)
(908) 325-3860
mmeanor@sternstrategy.com

Jeff Simmons
Anat Gerstein, Inc.
(on behalf of ACCA)
(917) 673-0024
jeff@anatgerstein.com

Signature research agenda launches with new website and SoMoClo report

New York and Montvale, N.J., September 15, 2015
 –ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants) explore the future of the accounting profession with the launch of a new multi-year signature research initiative focusing on the future of the accounting and finance profession. 

The initiative launched today with a new joint website, The Future Today, www.futuretoday.com, and the first ACCA/IMA signature research report, SoMoClo (Social, Mobile, and Cloud).

Announced last November, the ACCA/IMA signature research initiative is intended to serve accounting and finance professionals by providing insights on what the future means for the global profession. The work is anchored by The Future Today website, housing joint research from ACCA and IMA, along with blogs, guest commentary, and other interactive features.

“Through this new platform we aim to inform, educate, and raise the debate about the future world of finance, business, and accountancy,” said Helen Brand OBE, ACCA Chief Executive. 

The new website aims to engage senior leaders in business and finance, as well as academics and political decision-makers. The futuretoday.com is about taking a wide view of the issues that matter for the profession, and for global business and society in the broader sense.

“Ultimately, this new initiative is about serving the public interest and enhancing the capability of CFOs and their teams everywhere. The accounting profession has a responsibility to create and nurture stronger and more ethical organizations, and we at IMA and ACCA are happy to be part of this charge with a unique focus on future challenges and opportunities,” said Jeff Thomson, CMA, CAE, IMA President and CEO.

SoMoClo

As featured on The Future Today website, ACCA and IMA’s first new signature research report, SoMoClo, offers predictive insights about the effects of social, mobile, and cloud technologies. It covers the views of more than a dozen senior finance leaders from global organizations such as Deutsche Bank, Deloitte, Intuit and Microsoft. 

“While these converging technologies can unleash business possibilities, people—not technology—will be central to the process. As a result, finance professionals will change and evolve,” Brand said.

The report notes that while social, mobile, and cloud technologies may be embraced by marketing and human resources teams, in comparison, the finance function may be behind the curve in terms of adoption. But, perhaps this caution comes with a keen eye for risk management, which is a key competency of finance professionals.  

“CFOs and their teams have the opportunity and the obligation to ensure that the organization both understands the transformational nature of information technology on the value chain, and, the risks such as information security including cyber-breaches from broader data access,” added Thomson. 

Accounting and finance leaders can learn more about SoMoClo and access additional research from ACCA and IMA at www.futuretoday.com

About ACCA
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. We support our 178,000 members and 455,000 students in 181 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of 92 offices and centres and more than 7,110 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence. 
www.accaglobal.com

About IMA® (Institute of Management Accountants)
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 75,000 members in 140 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/Africa. For more information about IMA, please visitwww.imanet.org.

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Source: www.imanet.org