Trends that will shift the accounting landscape in 2024
February 07, 2024
By Leana Van Der Merwe
The accountancy profession has undergone a dramatic shift in recent years, with the emergence of new technologies, as well as various changes in regulatory and business environments. While the profession has weathered many storms, there is much to be optimistic about as we look toward the year ahead. From digitalization and consultancy to Bitcoin and cryptocurrency, 2024 is set to be a year of growth and possibility for the accountancy professional ready to tackle the opportunities it presents.
Continued emphasis on digitalization
Digitalization remains vital going forward as businesses continue to recognize the benefits that embracing technology presents in the areas of corporate reporting, decision-making and the optimization of business resources. More accountancy professionals and businesses will adopt packages and systems that automate everyday transactions and financial data in the coming year. By using these systems, there is far less room for human error than with manual operating environments, allowing organizations to better manage risk and compliance, lower operating costs, achieve greater productivity and efficiency, and boost customer satisfaction.