Today’s finance professionals must harness the power of technology, says ACCA India’s senior executive

ACCA (the Association of Chartered Certified Accountants) partnered with the Economics Society of Shri Ram College of Commerce (SRCC), University of Delhi for their three-day event, Shri Ram Economics Summit 2024. The summit brought together students, industry leaders, and academics to discuss critical issues in the field of economics and finance.

Speaking at the summit, ACCA’s Associate Director – India, Kush Ahuja, emphasized the evolving nature of finance. He stressed the importance of finance professionals becoming ‘technology natives’ to adapt to the ever-changing technological landscape.

“Finance as a stream is continuously evolving, from distribution channels to compliance regulations,” said Kush. “Employers today are looking for finance professionals who are comfortable with technology and have a growth mindset that embraces continuous learning.”

Kush further highlighted the crucial role finance professionals play in adopting new technologies within organizations.

“Finance is usually the first adopter of technology in any organization, and they are also the evangelists to the rest of the organization,” says Kush, adding: ‘Our recent research showed that 79% of India respondents believe that AI will enable finance professionals to add more value.’ He explained how finance professionals not only need to be adept at using new tools but also can champion these advancements across the entire organization.

Md. Sajid Khan, Director – India at ACCA commented: “The world needs strategic business leaders that leverage technology to maximise the value they bring to the table. We embrace technology as it empowers accountants in data analysis, task automation, compliance, collaboration, predictive analytics, strategic decision-making, and continuous professional development, fostering efficiency and informed decision-making in today’s dynamic landscape.”

The event featured a variety of lectures, fireside chats, live interviews, and panel discussions led by renowned figures in economics, business, policy, and academia. These sessions fostered a lively exchange of ideas and innovations. A few of the speakers at the event were Union Railways Minister Ashwini Vaishnaw; Subhash Garg, former Economic Affairs Secretary and Finance Secretary of India; and Dr Pronab Sen, the first chief statistician of India and former principal adviser — Government of India’s Planning Commission.

ACCA’s participation in the Shri Ram Economics Summit 2024 underscores its commitment to supporting the development of future-ready finance professionals in India. ACCA equips its members with the technical skills and strategic thinking required to navigate the dynamic world of finance.