Tag: lifelong learning

When we talk about youth unemployment in South Africa, we often use words like ‘heart-wrenching’ and ‘major challenge.’ Then we look at the statistics, and we realise that it is an understatement. What we are living now is a national crisis.

The primary responsibility of every accountant is to serve the public interest first. But, as asked by the Roman poet Juvenal, 'Who will guard the guards themselves?' Who ensures accountants remain accountable? This is the function of professional accountancy organisations (PAOs), and it is the reason every accountant should be a member of such an association.

The COVID-19 pandemic has exposed structural weaknesses and widened inequalities across the world. Even before the pandemic, the rise of automation and innovative technologies were transforming the world of work, resulting in an urgent need for upskilling of talent.

We began 2020 with the understanding that we were in the 4th Industrial Revolution (4IR). As we grappled with what that means for us as leaders, what changes we would need to make, and what training our employees would need, we were hit with the global pandemic that COVID-19 brought.

Young entrepreneurs can uncover opportunities to build and grow their businesses. As President Ramaphosa noted in a recent newsletter to the nation, young entrepreneurs are finding the 'silver lining to the dark COVID-19 cloud'.

The task of re-skilling millions of workers may feel overwhelming. By 2022 alone, 75 million jobs will probably be displaced across 20 major economies, while 133 million new ones will spring up in industries that are only just gaining traction. At the same time, it’s estimated that nearly two-thirds of children who started school in 2016 will go on to have jobs that don’t yet exist.

According to QuickBooks, there are already more than 700 apps that are assisting accountants to automate processes and reduce their workload. Gone are the days where accountants can be mere number crunchers, who collate and check data and allocate it to the correct cost centre. The future accountant will have transformed her/himself into a financial advisor, adding value to businesses by offering strategic advice, consulting and financial planning.

The modern working world is changing at a rapid pace, across every industry. With constant changes in technology and the way we operate in business, it is vital for individuals to update their thinking frequently in order to keep up.

Ethics is one of the three pervasive skills competency areas to be developed in all entry-level CAs(SA) that SAICA requires in its rigorous qualification process.

As one of the original members of the SAQA commission which worked on the Professional Body framework and regulations, I am now astounded by how existing and aspirant Professional Bodies, but more so, pre-existing Statutory Bodies, are consciously misinterpreting what Continuous Professional Development(CPD) is and how it needs to be quality assured.