SINGAPORE/
PRNewswire/ -- ACCA, the global professional accounting body, called for businesses to re-think their existing business models. The conference urged for business leaders, owners and finance professionals to better prepare themselves for more disruption of the economy ahead by exploring ways that they can make use of new and existing technology, and to take advantage of the skills training opportunities available.
The one-day conference was attended by approximately 550 participants from corporate, public, financial and the professional advisory sectors in Singapore. The conference looked at how business leaders, owners and finance professionals through the various skills-upgrading programmes that ACCA and NTUC are working towards can be positioned to support the recommendations of the Committee on the Future Economy's (CFE).
The Guest of Honour, Mr Chan Chun Sing, Secretary-General of the National Trades Union Congress, and Minister in the Prime Minister's Office, encouraged participants to continuously upgrade and upskill themselves to keep relevant in today's fast changing digital world where business models. He spoke about how connectivity and information changes the way information reaches us and the importance of "just-in-time" training.
Dr Michael Teng highlighted how the Internet of Things has changed business practices and how this will, if not already, make an impending impact on the accounting sector. Dr Teng urged businesses to adopt new ways of operating that will be able to capture, create, develop and deliver value to their customers and the market. He expanded on the need for businesses to realign fast and accept their business models being disrupted with digital advancements.
The panel discussion looked at the importance of Business Model Innovation, and directors and finance professionals from various organisations across Asia offered expert opinions on similarities and differences across new business models, and how they leverage on Artificial Intelligence (AI) and Robotic Process Automation (RPA) in the business world.
The conference also had deep dive sessions that explored business innovation in the corporate, public and financial services sectors; and professional advisory services.
ACCA Global Council member, Ms. Belinda Young said, "Today's conference is important as there is a need for accountants to be holistic in their approach towards business innovation; as we live in an increasingly digitalised world, with 'technology, experience and creativity playing an important role."
Encl: A link to the photos of the conference
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About ACCA
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accountants bring value to economies in all stages of development. We aim to develop capacity in the profession and encourage the adoption of global standards. Our values are aligned to the needs of employers in all sectors and we ensure that, through our qualifications, we prepare accountants for business. We seek to open up the profession to people of all backgrounds and remove artificial barriers, innovating our qualifications and their delivery to meet the diverse needs of trainee professionals and their employers.
We support our 188,000 members and 480,000 students in 178 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of 100 offices and centres and more than 7,400 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence.
ACCA works in the public interest, assuring that its members are appropriately regulated for the work they carry out and, promoting principles-based approaches to regulation. We actively seek to enhance the public value of accounting in society through international research and we take a progressive stance on global issues to ensure accountancy as a profession continues to grow in reputation and influence.
For further information, please visit www.accaglobal.com; or follow ACCA Singapore at https://www.facebook.com/ACCA.Singapore/
Photo - https://photos.prnasia.com/prnh/20170720/1903302-1-a
Photo - https://photos.prnasia.com/prnh/20170720/1903302-1-b
SOURCE ACCA