The Future of

Accountancy
Professions
By Ersa Tri Wahyuni, PhD, CA, CPMA, CPSAK, CPA, WMI, CWM
Associate Professor in Accounting Universitas Padjadjaran
Millenial Talk 3
Gelar Wicara, Pre Event Expo Profesi Keuangan 2021
 The Case of VOC
Cartered in 1602- Disolved in
1800s

The First Public Company

in the world. Established in
1602 and investors in 6
cities invest in the company.

Very complex structures and

accounting

No Financial reports to the

Shareholders from 1602-1609. First
Public Audit Report in 1623
Accountancy practices in 1637 may be different from 2021, but the
core remains the same. The Investors need the financial information
about the company and Accountants is that business communicator.
The Evolution of Accounting
Accounting
Office,
1925
Cash
Register
2020

Cash
Register
1910

The Machine may evolves, but Cash is still the

King and need to be calculated carefully
 Artificial Intelligence Milestones

1955 1989 2016

First Academic Term Chess Victories Sophia Robot
John McCarthy introduce VS Master The First Robot received
the term AI as field of VS World Champion in 1996 citizenship
academic study . Winning at GO Games in 2016 Created by Hanson
Robotics

1970 2011
Apple “Siri”
First Intelligent Get a modern PowerPoint
Robot “Shakey” Presentation that is
beautifully designed.
What AI and ML do in
Accounting?
Machine
Learning
1. Real-time Status of
Financial Matters
2. Automated Authorisation in
internal accounting process
3. Monitoring documents to
comply with wide
regulations
4. An Artificial COO? Machine learning is the study of
5. CFO assisted with AI? computer algorithms that improve
automatically through experience.
It is seen as a subset of artificial
intelligence
 AI and The Future of Accountants

The Accounting Profession needs to

embrace AI as Business increasingly
utilize AI for their success

More and More decision making is

assisted by AI

Artificial intelligence can help

accountants be more productive and
efficient.

An 80-90 per cent reduction in the

time it takes to do tasks will allow
human accountants to be more
focused on providing counsel to their
clients
 Accountants: Moving Forward

Decision based on more accurate data Upholding The Ethics Even More

01 Important for Management Accountant to utilize AI

in making accounting decisions. 02 Otherwise, we may create very smart machine
who can do earnings management and financial
reporting manipulations

03 Improving Advisory and Audit Services

Accountants with KJA and KAP can improve
services and reduce cost
04
Do not afraid to adapt and evolve
This profession has survived for hundred of years,
it keeps evolving through many technology
advancements.