CBI member, ACCA have signed a strategic cooperation agreement with Alibaba Cloud, the cloud computing arm of the Alibaba Group.
The agreement is exclusive between ACCA and Alibaba Cloud and is focussed on upgrading the accounting profession so that it is ready to adapt when confronted with the disruption caused by the growing role of technology across all sectors.
The two organisations will focus on developing ACCA’s portfolio of courses and developing research and professional insights.
According to ACCA’s Chief Executive, Helen Brand, “the agreement is the logical next step […] ACCA and Alibaba Cloud have a close working relationship already [and] our collaboration is broad – from producing joint research to looking at course development for ACCA members about digital innovations. Developing the accountancy profession’s ‘digital quotient’ is a must – this is the awareness and application of existing and emerging digital technologies, capabilities, practises and strategies. [the agreement between ACCA and Alibaba Cloud] is all about bolstering this quotient.”
Professions across all sectors are increasingly being challenged by the question of how best to incorporate developing technical capability in a way which manages to get the best of the traditional labour force whilst reaping the rewards of an ongoing ‘technological industrial revolution.’
At the CBI’s Annual Conference this week, Accenture revealed that 68% of industry was currently facing disruption due to advances in technological capabilities, whilst a further 20% were expecting to face disruption over the next 2 years. The accountancy profession is the norm, rather than the exception when it comes to taking steps to incorporate technology within the profession. In response, Liu Song of Alibaba Group had this to say: “it makes perfect sense for us as leaders in our respective fields to strengthen our partnership, […] we are both committed to training the most forward-looking professionals […] to ensure the profession is ready for our digital business growth.”
ACCA has a strong track record of taking decisions which keep it at the head of the pack. For example, ACCA became the first global accountancy body to establish its presence in China in 1988. The org anisation now has 25,000 members in China and 86,000 current students with representation across 11 cities.
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