Accountants in Africa and the evolving fourth industrial revolution (4IR): Towards a competency framework

Abstract

This paper sought to establish the competency skills required by accountants to utilise 4IR technologies at their work places. The following specific questions guided the study: What constitutes an accountant who is fit for purpose in the 4IR era? What needs to be done for accountants in Africa to remain relevant? To answer these questions the research adopted a qualitative research approach. A structured interview guide and document review was used to gather qualitative data. Telephone interviews were conducted with the selected members for the interview due to the covid-19 epidemic. Secondary data was gathered through desk research, which included analyzing various academic curricula of various institutions and syllabi of Professional Accounting Organisations. The results from the study on the first objective show that an African accountant needs mostly computer skills and critical thinking skills to effectively navigate in the technology driven era. Other skills identified were emotional intelligence, technical and analytical skills. The second research question indicated that African accountants are expected to have data management skills to effectively execute their duties in this digital era. These skills include information technology skills, data analytics, complex problem solving, specialised software, and business intelligence. These skills need to be fused in the curricula of training institutions. Professional Accounting Organizations, universities, and employers should structure their training curricula in such a way that they impart cutting-edge technology such as block chain and robotics as part of digital accounting so as to eliminate manual accounting and enhance quality financial reporting.