The accountancy profession could significantly improve the delivery of relevant and reliable corporate reporting information if they grasp IT opportunities. This is the key finding of the latest collaboration between academics and professional accountants on the role of technology in corporate reporting. 

However, the report by academics of the British Accounting and Finance Association Financial Accounting and Reporting Special Interest Group (FARSIG) also indicates that having real-time high-quality data that satisfies the needs of stakeholders is a distant dream. 

Timely and connected financial and sustainability information supports vital business decisions amid geopolitical tensions, inflation and climate change. FARSIG’s annual symposium explored how technology and corporate reporting could make the dream a reality. 

Christian Stadler, Senior Lecturer in Accounting and Finance, Royal Holloway, University of London and chair of FARSIG said: ‘FARSIG’s symposium this year explored how corporate reporting fuelled by technology will transition from a conventional compliance exercise to a value-creating exercise. As the role of accountants expands to include advisory and business partnering, data-driven insights enhance the relevance and credibility of the advice they can provide to their colleagues and clients alike.

‘Nonetheless, the fundamental beacon of trust and integrity remains intact. Balancing optimism with governance helps accountants to stay level-headed and build a culture of experimentation while respecting the ethical use of technology and data protection.’

The 2025 FARSIG symposium looked at how technology is reshaping the work of accountancy professionals across all sectors. 

The symposium looked at:

• Emerging technology and corporate reporting; the landscape is evolving rapidly with Big Data, blockchain, AI and cloud accounting all contributing to reshaping the future of corporate reporting
• AI and accounting automation which - among other topics -raised the question of how an organisation’s AI capabilities should be valued and disclosed and how AI integrates with other technologies such as blockchain;
• Cloud accounting and big data: beckoning to a future of financial management where real-time analysis and access offers collaboration between accounts and their clients or business colleagues, enhancing predictive capabilities and financial planning.

Finally the symposium held a discussion looking at how emerging technologies change the way of working in business, including whether the traditional annual report is necessary.

Sharon Machado, Head of Sustainable Business, Policy and Insights, ACCA, said: ‘FARSIG’s work always gives a fascinating glimpse of the key emerging issues in financial reporting and it is gratifying to see how many of the themes this academic group explores is echoed in the work that ACCA does through it professional insights programme. We continue to value our relationship with FARSIG.’

The FARSIG virtual symposium was themed The Future of Financial Reporting. See here for more details on the discussion and the organisation. 

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We are ACCA (the Association of Chartered Certified Accountants), a globally recognised professional accountancy body providing qualifications and advancing standards in accountancy worldwide.
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