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PART A: THE BUSINESS ORGANISATION, ITS STAKEHOLDERS AND THE EXTERNAL ENVIRONMENT 
 
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The role of accountants is developing and there is an increased need for IT literacy and flexibility in 
working methods to meet the needs of the client and employer. They are increasingly required to have IT 
skills (such as in data science and computer coding) as well as traditional accounting skills.
Later in our studies we shall see in detail how digital information has affected the role of the accountant, 
however, some examples of the impact that technological advances are having on the role of 
accountants include:
(a) 
Cloud accounting – allows accountants to work more collaboratively together and with their 
clients. 
(b) 
Automation and artificial intelligence – supports the automatic and intelligent processing of 
transactional data to free the accountant to work on value-adding services. 
(c) 
Big data and data analytics – allow predictive analytics to assist the auditor in targeting key 
business risks to improve their audit work. 
(d) 
Distributed ledger technology – allows asset ownership to be easily verified, reducing the need for 
auditors to audit all transactions. 
9.2.3 Employment issues 
The infiltration of IT into almost every area of business means that the vast majority of employees 
(including accountants) are now expected to utilise information technology. As we saw above, IT skills 
are required and new ways of working have emerged.
9.2.4 Technological change 
A reliance on information technology commits an organisation to 
continual change
. Systems are likely to 
be superseded after a few years. Accountants must continually update their knowledge and expertise to 
keep pace with this change. 
9.2.5 Customer service 
Information technology has enabled organisations to provide better customer service. Customer 
databases, EDI, extranets, websites and data mining can all be applied to improving service levels. As 
the role of the accountants moves away from data processing and verification, they will focus their time 
on providing advice and support to their customer. For example, an accountant in practice could help 
clients by providing greater insight into the effectiveness of an organisation’s strategy. 
9.2.6 Information markets 
The term