Eight in 10 finance workers aren't future ready
They lack time, resources, and support from companies.
Around eight in 10 or 79% of Singapore's accounting professionals are not equipped to meet their job's demands in the next 10 years, a report by Ernst & Young (EY) and CPA Australia revealed.
According to the report "Future-proof your finance capability," their top inhibitors for learning new skills are lack of time, lack of financial resources, and lack of employer support.
Six in 10 found that the current curriculum in both education and professional bodies are not enough for learning future-ready skills.
Same proportion said their organisations are not helping them do so.
The surveyed professionals said that their organisations and institutions can help by injecting technology into the current curriculum or adding new courses on related skills.
Factors such as digital technology and disruptions, increased regulations, and globalisation impact the accounting profession the most, the study said.
In order to cope with these, the skills required include strategic thinking, business acumen, leadership, communication and influencing, and analysis and advisory.
Technology skills, such as information technology and digital skills, and information management skills, are also gaining prominence.