Accounting for the Future 2019
Join ACCA’s annual, flagship virtual conference between 3 and 5 December to prepare you for the challenges you'll face in your working life over the next year and beyond, as well as supercharging your career in today’s fast-changing environment.
This year’s conference runs over three days and offers up to 21 units of free, verifiable CPD. We’ll be exploring a wide range of issues relevant to finance professionals today including megatrends, sustainability, technology, machine learning, audit, careers, diversity, leadership, new business models, public sector finance, economic crime, finance functions, corporate reporting, and much more.
A number of sessions will cover the power of ethics, ACCA’s current ‘big theme’.
Registration to attend this free event is now open. Members who can’t join live can register to receive details of how to join in the on-demand period.
Guest speakers include: ACCA’s talent doctor, Rob Yeung; Tom Seidenstein, the new chair of the International Auditing and Assurance Standards Board; and Kevin Dancey, CEO at IFAC.
3 December 2019
(all times UK)
9am - Megatrends in the profession
This keynote session, a live discussion and Q&A, will explore the megatrends impacting the global accountancy profession. From the rapid ascent of digital to the growing pressure for long-term, sustainable value creation, evolving business models, the proliferation of risk and rapid demographic and talent shifts, these trends present both challenges and significant opportunities for the profession as it moves to shape its own future – and that of the wider world.
This session will set out how the profession can be a strategic influencer on that future by putting purpose, value, ethics, sustainability, trust, transparency and total value at the heart of everything it does.
10am - Analytics: the powerhouse of the future profession?
The opportunity of analytics is dramatically shaping the future of the profession. Featuring leading experts in the global analytics field, this session will explore what exactly we mean by analytics and why it is such an important emerging area of opportunity for finance teams.
It will assess the 'state of play' in terms of analytics capability across the profession, as well as considering some of the prevailing challenges that exist. It will also examine the implications for finance teams in building out superior analytics capability.
The session will help CFOs and other finance leaders in a range of businesses set an effective analytics agenda for their organisation and explore the broader role of finance in supporting organisational growth.
11am - Can machines learn to be ethical?
Artificial intelligence (AI) presents new opportunities like never before. But does it also present new challenges? Join Narayanan Vaidyanathan, head of business insights at ACCA, for an engaging session that explores the ethical dimension of machine learning.
Machine learning is a sub-set of AI and is generally understood as the ability of the system to make predictions or draw conclusions based on the analysis of a large historical data set. Increasingly used in accounting software and business process applications, as a finance professional, it’s important to understand how it can be deployed in a way that is ethical and without compromising the public interest.
Ethical issues ranging from biased data to establishing accountability between human and machine are considered. The session also features recorded footage from the International Ethics Standards Board for Accountants (IESBA) that explains their view on ethics more generally and the way technology is shaping their work.
1pm - Redefining how corporates create value
The rising demand for companies to disclose their environmental impact is driving change in corporate behaviour. ACCA is leading the way in calling for more concerted action to deal with the challenge of social and environmental value creation. This session will explore how finance teams should be at the leading edge of this revolution and how finance professionals can build their competencies to lead the required shift in values and mindsets demanded by business.
2.40pm - Our digital future: new frontiers for professional accountants
This session will focus on the Digital Accountant report that is due to be released in April 2020. although a member and student survey is being conducted in the two weeks commencing 1 November 2019. The objective of the research is that the accountant of the future will, in part, be defined by their digital capabilities. As a result, we can define a set of guiding capabilities for the accountant of the future that members can focus on in developing their skills.
3.40pm - Radical innovation in the public finance function
Public finance professionals believe that governments need to shift from the current dominance of incremental innovation to more radical forms. Significantly, 91% of public sector professionals report some type of innovation occurring in their organisations in the past 12 months. Join this session to learn how you can play a critical role in supporting innovation across your organisation, especially in executing the transition to more radical forms of practice and behaviour.
Based on ACCA's research report Innovation in Public Finance, written by Alex Metcalfe, this session is grounded in specific examples of radical innovation in practice, showing you how to orientate your innovation compass to improve the public value provided by your organisation.
4 December 2019
9am - Delivering diversity
Diversity is one of ACCA’s values – along with accountability, innovation, integrity and opportunity. For us it means respecting and valuing difference, embracing diversity in our people and our output. But what does it mean to be a leader when diversity is very much on the corporate agenda? What particular skills and abilities should come to the fore?
Our day two opening panel debate will examine these and other questions, looking at the challenges and opportunities ahead about diversity and what it means in our modern working lives. Expert panellists will address whether diversity in leadership is different for smaller businesses compared to large ones, and whether it actually matters to business in the face of technological developments.
Tune in to hear our panellists' views on diversity, leadership and the skills needed to be an excellent leader in a diverse world.
10am - Office politics and your promotion
Sometimes it can feel as if working life is rife with favouritism, scheming, backstabbing and other unethical behaviours. The question is: do we all need to engage in equally unsavoury behaviour in order to get ahead? In this insightful session, organisational psychologist and author Dr Rob Yeung will discuss some of the research on office politics and provide invaluable advice for not only surviving office politics but also raising your profile in an ethical fashion.
12pm - Stop the rot: what small businesses can do to manage the threat of bribery and corruption
ACCA has revisited its groundbreaking 2013 global survey of the awareness and impacts of bribery and corruption on the SME population, drawing out the trends in understanding of the risks, and implementation of countermeasures.
1pm - Passionate practitioner
The digital revolution has arrived at the small and medium-sized practice (SMP). For some it presents a challenge and for others it has provided them with a significant opportunity to develop new practices and provide a broad range of services to their clients. How did they achieve this? In our report The passionate practitioner, we drew attention to the drivers for change and the approach that the SMP might wish to take in adopting a digital strategy. In this session four trailblazers will illustrate their experiences and lessons learned. Our panel will add their own commentary based on their own, and very different, experiences.
5 December 2019
9am - Sizing up the economy – do we need a new approach?
In a volatile world, how should we measure the economy in a meaningful way? Join ACCA’s chief economist, Michael Taylor and Anne McElvoy, senior editor at The Economist, for a fascinating look at new methods in measuring our global economy. They will examine environmental factors, well-being and social value and inequality. This session will offer members the opportunity to consider some of the biggest economic issues of our time.
A major drawback of traditional measures of economic activity, such as GDP, is that they fail to correct for so-called externalities, ie when market prices do not fully reflect actual costs imposed on society. Carbon emissions are an obvious example. Can we remedy this? How far should companies move away from profit maximisation and explicitly aim for other social goals? Michael Taylor and Anne McElvoy will discuss these issues and how business and financial institutions might evolve to support sustainable growth.
10am - IFRS hot topics
This session on hot topics in financial reporting will feature an overview from the IASB of its current work programme, including IFRS 17, Insurance Contracts; goodwill; and performance reporting. There will then be a presentation on the impact of the implementation of IFRS 16, Leases, and discussion around accounting for intangible assets.
11am - Audit: pride and professionalism
With the role and purpose of quality audit still as live a question as ever, this session hears from IAASB’s incoming chairman Tom Seidenstein on the professional challenges, making the standard-setting process more agile and collaborative, and how auditors need to rediscover pride in their work. ACCA's director of professional insights Mike Suffield leads a discussion on how audit can deal with emerging issues, ensure professional scepticism remains front of mind, and how restoring pride and purpose can attract the best and brightest to audit.
12pm - Economic crime in a digital age
Economic crime is as old as the stores and flows of value that underpin economic activity itself. But with every advance in technology, criminals have sought to turn developments to their advantage, from third century insurance fraud to the emergence of long firm frauds in the 19th century.
EY and ACCA experts have contributed to a new report, exploring the implications for the public, the profession and regulators of the latest advances in digital technology. Tune in to hear how existing crimes have become easier and new ones developed. The delivery mechanisms may have changed, but human nature remains the same.
Learn about the impacts for auditors, and the views of regulators on how they can work with the profession to best improve detection and prevention of economic crime in a digital age.
1pm - Reporting on climate change
This session will provide an overview of current trends and challenges around environmental, sustainability and governance (ESG) reporting. Our expert speakers will also offer practical guidance and real-life examples of what disclosures to make and how, and useful resources for more guidance.
3.40pm - Finance function future
Finance functions are facing significant challenges in remaining relevant in the face of multiple disruptive factors. In their joint report Finance: a journey to the future? ACCA and PwC explored the dynamics impacting the finance function through six hypotheses that looked to the future. Since the publication of the report in May 2019, several groups of members have discussed their views. In this session we will explore the opinions of what the future might be – especially if we started with a blank sheet of paper.
Get up to 21 units of free verifiable CPD by attending the Accounting for the Future 2019 virtual conference