As 2019 begins, the accounting profession can count on one thing: change.
“The players are changing,” said Amber McAuliffe, CPA, manager of accounting learning at OSCPA. “Meaning, who is performing the services as well as the 'what' and 'how.' This is being driven by technology, significant generations retiring and succession out of the industry, as well as consolidations and mergers. Firms are diversifying their services through non-traditional acquisitions,”
McAuliffe said a crucial trend to watch is the rate of change in the business environment -- not to mention the rate at which accountants must change to keep pace.
Accounting Today recently interviewed accounting professionals and leaders for their take on trends expected in 2019. Some highlights:
McAuliffe agreed on the first point, and said she thinks the most surprising developments for accountants in 2019 will hinge on robotic process automation and artificial intelligence.
“This technology is still a buzzword, but there are a number of firms and corporations that are experimenting and implementing RPA in their processes,” she said.
According to the survey, the most surprising thing for accountants in the coming year will be:
Do you agree with these 2019 accounting predictions? If not, what do you think will be some of the top trends or surprises in accounting this upcoming year? Let us know in the comments!