Sustainability of Accounting Profession at the Age of Fourth Industrial Revolution

Abstract

According to previous literature and surveys, a technological progression increases the use of technologies in the accounting and auditing profession. Frey and Osborne’s (2013) predicted that this profession will face extinction, which leads this paper to study the future prospects of the accounting profession in a global and local context of Bangladesh. At present, technologies are automating routine accounting activities resulting job cut around the world. But the advanced study reveals that technology cannot replace emotional intelligence and critical thinking abilities of a human in near future. As technology is spreading the scope of the profession, knowledge of trending technologies along with some survival skills are required for accountants. This paper tried to present the upcoming trends of the accounting profession, at the same time discusses the required skills to adapt to the technological changes. After observing 18 companies of Bangladesh, it has been found that advanced technologies are not introduced here except software and according to the survey; software’s are not affecting accounting employment yet.