Training accountants for the dynamisms of modern business.

Abstract

The recent increase in corporate fraud, business failures and more importantly the global financial crisis of 2008, raise more thought about the preparedness of accountants in meeting the challenges posed by the information technology age. This may be an indication that the traditional approaches to educating and training future accountants are insufficient or the necessary professional ethics and standards to be observed by practicing accountants are not strictly adhered to. This conceptual review examines the accountancy profession and identifies the requisite skills and training needed to be attained by today’s accountant. The dynamism of the business landscape, which is caused by the ever changing forces and trends that confront today’s businesses, has necessitated a review of the traditional approaches to educating and grooming future accountants. It has been identified in this paper that a modification of the relevant skills and training needed to be attained by the professional accountant is imperative in meeting the demands of the modern business.