THE FUTURE OF ACCOUNTING AND ACCOUNTANTS, AUDITING AND AUDITORS

Анотація

The future of accounting, accountants, auditing, and auditors is an ever-evolving reality in today's dynamic business world. With the constant advancement of technology, changing regulatory requirements, and the growing need for transparency and accountability toward shareholders and the public, these areas are becoming increasingly important and demanding. Therefore, it is crucial to examine the future of these disciplines from the perspective of innovation, professional training, and changes in the social context. The future of accounting and auditing is expected to be greatly influenced by technological advances such as artificial intelligence, big data analytics, and blockchain [1].

One of the most prominent trends in the future of accounting is automation and digitization. With the growing power of artificial intelligence and machine learning, many routine tasks in accounting can be automated, allowing accountants to devote themselves to analytical and strategy tasks. Technological innovations such as blockchain, analytical tools, and cloud solutions are revolutionizing the way accountants access information and ensure data reliability. 

With the increasing complexity of the business environment, the nature of auditing and the role of auditors are also changing. The future of auditing will be more focused on predicting and preventing risks rather than simply identifying them. The impact of AI on the audit profession is expected to increase the efficiency and effectiveness of audit procedures, ultimately improve auditors' judgments, and potentially automate certain tasks [2].

It can be assumed that these technologies will bring about substantial changes in accounting and auditing procedures, leading to increased automation of various processes. As a result, auditors will need to adapt to these changes by gaining explicit knowledge of approaches to data analysis to improve their training and education [3].

Auditors will need not only strong accounting knowledge but also the ability to understand technological systems and their impact on companies' financial results. Auditors will simultaneously face greater transparency and demands for accountability, necessitating an ethical and professional approach. As audit technology continues to mature, future research may focus on how internal audits can provide more value to organizations in terms of operational efficiency, efficiency, risk management, and accounting quality [4].

The current trend of emphasizing non-financial information in accounting and auditing indicates a shift from traditional financial reporting towards a holistic view of a company's performance in terms of sustainability, environmental and social impact, and management governance. Incorporating non-financial information into accounting and auditing provides stakeholders with a more comprehensive picture of the company and its values. Non-financial information encompasses aspects such as the environmental impact of a company's activities, social responsibility towards employees and communities, ethics, and governance. By disclosing this information, companies can demonstrate their contribution to sustainability and transparently tell the public about their non-financial activities. 

For accountants and auditors, this represents new challenges and opportunities. Incorporating non-financial information into accounting structures and auditing processes necessitates a broader perspective on the company's processes and practices. Accountants must be capable of identifying pertinent non-financial indicators and incorporating them into financial reports. Auditors must develop the ability to verify the reliability and accuracy of this information and its compliance with international standards and regulations. 

The connection between financial and non-financial information is also significant. Accountants and auditors should be able to analyse the relationships between these two aspects and offer stakeholders an integrated view of company performance. This approach can provide a more comprehensive picture of the value and management of the company. 

Despite these challenges, the inclusion of non-financial information in accounting and auditing brings significant advantages. It strengthens the transparency and accountability of companies, leading to increased investor confidence and competitiveness. In addition, the company helps businesses gain a better understanding of their impact on the environment and whole society, which can lead to improved risk management and long-term sustainability. 

Overall, it can be observed that the disclosure of non-financial information is becoming an integral part of modern accounting and auditing. Accountants and auditors who can effectively incorporate and verify this information contribute to improving the quality of financial reporting and enhancing the value of accounting and auditing services in today's changing business environment. 

The evolving accounting talent landscape, especially among early-career accountants, highlights the importance of addressing their career values to ensure job satisfaction and retention within the profession [5]. At the same time, the rise of FinTech accounting and auditing platforms during the era of the Fourth Industrial Revolution is expected to shape future research directions and enrich literature in these areas [6]. From a professional training perspective, future accountants and auditors need to acquire not only technical knowledge but also the ability for critical thinking, communication, and adaptability to changes. Flexibility and the ability to learn new things will be key skills in an environment of constant development. 

The development of blockchain technology brings accounting and auditing into a new era of transparency and data security. Blockchain is a decentralized and distributed accounting system that provides a unique way to record transactions and maintain accounting records through a distributed registry. In the future, blockchain has the potential to revolutionize the way transactions are accounted for and audited. Its invincible nature and irrefutability of records ensure that transactions are trustworthy and transparent. Accountants could utilize blockchain for secure storage of accounting data, hence minimizing the possibility of errors and fraud. An examination of cryptocurrency accounting and auditing indicates a growing need for improved policies and techniques to effectively monitor and document these transactions [7]. In the field of auditing, blockchain might provide auditors with an independent and objective source of information.

By having the ability to monitor transactions in real-time and verify their authenticity, auditors might perform their work more quickly and efficiently. In addition, conducting an audit of blockchain transactions could aid in the identification and prevention of fraud and discrepancies. The inclusion of fraud detection simulations in auditor training programs could strengthen auditors' abilities to detect and prevent fraud in the future [8].

Despite these advantages, it is necessary to acknowledge the challenges associated with implementing blockchain in accounting and auditing. Among these challenges include technological complexity, the need for proper regulation, and ensuring privacy and data security. In addition, it is necessary to ensure interoperability across various blockchain platforms and accounting systems. Overall, it can be stated that blockchain has the potential to change the paradigm of accounting and auditing by offering a secure, transparent, and trustworthy method of recording and verifying accounting data. Accountants and auditors who learn to effectively utilize this technology will have a competitive advantage in the future and contribute to the improvement of the quality of accounting and auditing services.

Despite technological innovations and changes like the work of accountants and auditors, maintaining an ethical and professional attitude remains an important aspect of their work. Trust in accounting information and audit results is fundamental to the functioning of the financial market and the whole economy. 

In conclusion, the future of accounting, accountants, auditing, and auditors will be influenced by a combination of technological innovations, changes in the regulatory environment, and the need for accountability to the public. It is crucial for professionals in these fields to continuously educate themselves, adapt to new requirements, and maintain an ethical and professional approach to their work