Summary: To remain relevant, accountants must keep updating technical and technology skills — accounting CPD for clients, for careers, and for the profession.
To remain relevant
Accountants encounter changes that demand they keep updating their technical and technological skills to remain relevant to their clientele — in education and in practice. Failure to understand the changes leaves accountants unable to serve clients effectively and can lead to serious legal implications from professional liability.
To satisfy accounting CPD requirements
Practising accountants must pursue Continuing Professional Development. For example, ICPAK members in Kenya need 40 CPD hours annually — 25 structured and 15 unstructured, averaged over a three-year rolling cycle (120 hours: 75 structured, 45 unstructured) (ICPAK, 2021). Beyond CPA courses, accountants should follow publications like The Accountant, Journal of Accountancy, The Economist, Financial Mail, Business Daily, Forbes, and Entrepreneur.
Technology changes fast
Cloud computing, artificial intelligence, tax software innovations, social media, and blockchain have automated accounting systems and shifted the accountant’s role toward business advisor — demanding professional scepticism, judgment, and critical thinking. To remain relevant, accountants must embrace technological change and be willing to learn new ways of working.
How to keep learning
Structured formal training, on-the-job training, and mentors — accounting CPD is widely available online via webinars, podcasts, and videos — plus subscriptions to relevant professional magazines and publications.
Related resources: Accounting & Bookkeeping Services · Free Excel Templates