I am an assistant finance manager for payroll at public transport operator MTR in Hong Kong. A large part of the role consists of helping to constantly refine and enhance our payroll systems to increase efficiency, streamline procedures and maintain compliance with ever-changing regulations.
I find this intellectually stimulating and fulfilling. It also forms the backdrop for my conviction that the accounting profession is being shaped by two key trends: artificial intelligence and advisory. The integration of AI and machine learning into accounting processes is transforming the way we work by streamlining repetitive tasks, enhancing data analysis capabilities and improving overall efficiency.
That first key trend is driving the second. The advance of tech is freeing up accountants from rote duties to provide valuable insights to their organisations. It is allowing us to focus more on financial planning and analysis, risk management, and strategic decision-making support. That affects practitioners as much as corporate accountants, as advisory services allow accountants to differentiate themselves in a competitive marketplace and create lasting relationships with clients who rely on their expertise for strategic guidance.
To thrive in this ever evolving landscape, accounting professionals must continually update their knowledge and skills. They must be adaptable and embrace emerging technologies and tools that can enhance their efficiency and effectiveness in the field. We need to change to remain competitive, and keep an open mind to different fields within accounting.
Accountants need to develop strong communication skills
It isn’t just about learning or developing technical skills. A major shift in the accountant’s role is under way that requires us to develop strong communication and interpersonal skills as well as a deep understanding of our sector and the business’s strategy.
I began my own professional journey at the Hong Kong Jockey Club. I worked in the finance department there for nearly 10 years, collaborating with a diverse array of talented professionals from various businesses, embracing innovative ideas and applying contemporary knowledge to our day-to-day operations. The ACCA qualification – and the knowledge that it confers – that I gained during my time there has played a pivotal role in advancing my career.
Transitioning to a new position can be challenging but the acquisition of new knowledge that it brings is always beneficial. Embracing these professional development opportunities can lead to a rewarding career in accounting.
One of my favourite hobbies outside of work is reading. Reading provides numerous benefits that contribute to both personal and professional growth. It lets me broaden my knowledge, improve my critical thinking skills and gain valuable insights that can be applied to various aspects of my life.
