ACCA – SOEL Roundtable Discussion on current trends and challengesin Accounting & Auditing
The Association of Chartered Certified Accountants (ACCA) Southern Europe and the Institute of Certified Public Accountants of Greece (SOEL) jointly hosted the 2nd Roundtable Discussion of professionals involved in recruiting and educating the future talent in Accounting and Finance, which met with great success.
The event was actively attended by representatives from academia, such as University of Piraeus, Athens University of Economics & Business, University of Thessaly, University of Aegean and University of West of Attica, and leading companies practicing in Auditing and Accounting such as EY Greece, Deloitte Greece, Grant Thornton Greece, PwC Greece, KPMG Greece, Crowe Greece and Mazars.
The participants had the opportunity to exchange ideas and to raise concerns about the current challenges and trends in the Auditor’s profession, as reported in Greece and internationally, with a focus on three areas: attracting talent, sustainability, and technological advancements including Artificial Intelligence (AI). Mr Nikolaos Papadimos, Deputy Chairman of the Hellenic Accounting and Auditing Standards Oversight Board (HAASOB) of the Quality Control Board (SPE), Mr Stelios L. Dotsias, Educational Consultant of the Institute of Education of SOEL (IESOEL) and Ms Andreia Stanciu, Head of ACCA Southern Europe were the keynote speakers of the event.
Mr Papadimos referred to the challenges facing the Accounting & Auditing industry and provided data on the appeal of the profession to younger professionals. “To keep pace with modern trends, auditors need to embrace the new technologies and approaches to quality control and transparency, while being adaptable to changing business models and regulatory requirements”, he noted. “They should be proficient in a wide range of technology tools and techniques and be able to apply them efficiently. This requires a commitment to ongoing training and development, to stay up-to-date with the latest developments and shape the future of Auditing”.
Mr Dotsias analysed the trends recorded in today’s labour market with particular emphasis on the Accounting & Auditing sector. According to recent research in Greece, 73% of employers state that they struggle to find experienced personnel. In terms of expectations of new candidates – particularly “Gen Z” members – other than remuneration, they focus on career advancement opportunities, work/life balance and flexibility between in-person and remote work.
Ms Stanciu reiterated the strong concern of ACCA members regarding the shortage of skilled staff in the industry, citing the attraction of talent as one the top three concerns for employers, especially in Central and Southern Europe as noted in ACCA’s global surveys, in which respondents flag this risk of talent shortage as one of the biggest. Also, according to the data she presented, members of Gen Z and Gen Y rank their long-term career prospects among their top priorities, together with the ongoing acquisition of new skills and their professional recognition. Ms Stanciu also highlighted the growing importance of ESG, Sustainability and Artificial Intelligence for auditors – all of them areas to which industry professionals are called upon to quickly adapt.
Reports quoted at the roundtable included:
- Digital horizons: technology, innovation and the future of accounting | ACCA Global
- Accounting for Society’s Values | ACCA Global
- Global Talent Trends 2023: Europe | ACCA Global
Attracting talent, sustainability, and technological advancements the focal points of the discussion between professional associations, oversight board, academics, and consulting firms
