Want to become a CFO? Build broader skills, not just more accounting credentials, says ACCA chief
Consider stacking qualifications like professional counselling and data science, says Helen Brand.
In an era of artificial intelligence, the role of the accountant may appear to be at risk of being replaced by machines. However, Helen Brand, chief executive of the Association of Chartered Certified Accountants (ACCA), contends that human financial leadership, particularly that of accountants and chief financial officers (CFOs), is more crucial than ever.
With her leadership of the global organization since 2008, Brand has witnessed the profession navigate various geopolitical shocks, wars, tariff threats, and the rise of AI. Despite these challenges, she remains convinced that accountants will continue to play a vital role in the future workforce, potentially even in greater numbers.
She emphasizes that the human factor becomes increasingly important as AI assumes more routine tasks. Trust and confidence are at the heart of the profession, with ethical conduct and providing trustworthy information to stakeholders paramount. While AI will handle data collation and analysis, human judgment and professional scepticism are still necessary to address biases related to gender, race, and nationality.
Moreover, accountants now need to consider broader business aspects, such as sustainability and tariff risks, beyond traditional financial reporting. The speed of change is accelerating, with tariffs becoming a politically weaponized tool with significant business impacts. As a result, adaptability and resilience have become key skills for accountants and those aspiring to the CFO role.
Communication and networking skills are also essential, as demonstrated by an accounting firm that assigns new recruits to hospitality roles to develop these abilities. ACCA has introduced a redesigned qualification that includes Essential Employability Modules to assess applied skills like sustainability, communication, leadership, and management.
These modules will be available starting early 2027. Sustainability considerations are becoming increasingly important for accountants, as they must assess financial risks, including those related to sustainability strategies. Brand believes that sustainability reporting should be integrated with financial reporting to provide a comprehensive picture to stakeholders.
She acknowledges that starting in this challenging environment can be difficult but emphasizes that a profession with purpose and long-term impact remains attractive to many young accountants and mid-career professionals. For aspiring CFOs, the key is to continue learning and pursuing diverse credentials to stay relevant in an ever-evolving landscape.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
