Threats and Challenges of The Accounting Profession Facing the Digital Revolution in the Society Era 5.0

Abstract

The domination of robotic and artificial intelligence in society era 5.0 has become inevitable; the digitalization era has come. It disrupts all sectors and professions. The accounting profession is one sector that will get the impact of the digital revolution. This phenomenon forces humans to change and adapt to the technological era. Although, in general, it brings progress in human life, on the other hand, it brings challenges and threats to the accounting profession. Therefore accountants should upgrade their ability and have more value. The strategy that can be used is being a certified accountant, keeping the purpose orientation as an accountant, time management up to date, and using software to maximize the work. This research aims to discover the challenges and threats to the accounting profession in the digital revolution era 5.0. Moreover, in facing the challenges of society era 5.0, accountants need to do the following five steps: Invest in developing digital skills, implement new technology prototypes while learning by doing, education based on international certification, be responsive to the change in the industry, business, and technology development, curriculum and learning based on human-digital skill (for an educational institution). This research is descriptive research with a literature method. The conclusion is taken based on the expert opinion.