This report draws attention to the radical change in the role of data in relation to the accountancy profession. It touches upon issues of data management, data governance and data life cycle, and describes key current and future trends for a broad range of data-related activities.
Accountants and finance professionals have always been right at the heart of data-related work. Now, as the Data Revolution causes huge shifts in the data landscape, the very nature of the finance profession is being significantly affected, and new data-related skills are being sought. This signifies an urgent need to re-examine current and future trends of digital data and data processing, as well as their imminent impact on the future of accounting.
This report examines data management, data governance and the data lifecycle plus the current and future trends of the 'data revolution'. The report's conclusions centre on the professional accountant's need to: