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Is the Accounting Profession About to Vanish?
03-Sep-2023
In ‘Dakika Jedan’ Program on Noskhabar Digital Platform
Dr. Talal Abu-Ghazaleh: Is the Accounting Profession About to Vanish?
AMMAN- I take this opportunity to confidently state that for four decades or more, I have been studying as a student this global historical transformation which I call the knowledge revolution: the digital transformation revolution. In any country, all the organizations must be involved in digital transformation, otherwise the country will vanish. As Secretary General of the League of Arab States, my dear friend Dr. Aboul Gheit has previously stated, “Arabs have two options, either to embrace digital transformation or face extinction”.
This means that we do not have any choice, nobody wants to vanish. We want transformation, change, development, and innovation through knowledge revolution. Accounting plays a crucial role in the global economy. It is a tool for decision-making, so definitely it will be subject to change. I emphasize that external accounting or what is known as auditing or professional accounting, in addition to the internal accounting procedures, will also be subject to change. Professional accountants will be only responsible for the technical direction of the software that will be used as an external auditor. We are currently working on developing a software to be used globally as a personal auditor. The software can accommodate all the knowledge of an auditor, making the auditor a technical director only.