SINGAPORE (May 7): With technology evolving faster than many organisations can adapt, it is unsurprising that an increasing proportion of traditional accounting roles may soon be replaced by automation.

According to a recent study commissioned by the Association of Chartered Certified Accountants (ACCA) and Institute of Management Accounts (IMA), among the 42% of management accounting professionals, those responsible for general accounting functions were the most concerned about the possibility of technology eliminating their jobs.

The paper, released by IMA on May 4, marked International Management Accounting Day and suggests that certain new management accounting skills, especially in the areas of information technology (IT) and analytics, will need to be acquired if the profession is to remain relevant.

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