Jamil Ampomah was in Mauritius some days ago to participate in a forum organized by the Mauritius Institute of Professional Accountants. In this interview, he gives an insight on how the ACCA is preparing its students to face the next phase of development of the profession where disruptive technologies will have a crucial role to play.

When you have to face an audience of accountants, what is the first and foremost thing that comes to your mind?
When I come across such an audience, I am delighted to see the accountancy profession come together and see so many professionals from this field deliberate on important topics. In the context of the conference that took place at the Sofitel Hotel, it was specifically to reflect on our roles in saving the world in connection with the crucial cause of sustainability. It was also an opportunity to re-engage with partners from Mauritius and other countries and develop as well as strengthen these connections. This forum was organised by the Mauritius Institute of Professional Accountants. ACCA being a key partner and being invited to participate in it testifies of our continued relationship in supporting the development of the accountancy profession in Mauritius.

Accountants do not perform their duties in isolation. How far has this forum contributed to refresh your relation with other organisations working more or less on the same line of action?
This forum offered us the opportunity to interact with various other national partners, such as the Financial Reporting Council (FRC) whose main concern is to promote confidence in corporate reporting and good corporate governance, the Financial Services Commission which is the regulator for the Mauritius financial services sector, the Audit office, the Accountant General’s office and the Mauritius Revenue Authority, the revenue authority of Mauritius. Several of our employer partners were also present. It was a great pleasure to exchange with them. Beyond Mauritius, I had the chance to connect again with Admire Ndurunduru, the chairperson of African Forum of Independent Accounting and Auditing Regulators and Chief Executive Officer of Zimbabwe’s Public Accountants’ and Auditors’ Board.

How are you preparing to pave the way for a smooth integration of Artificial Intelligence (AI) in your midst?
We are very mindful of the impact of technology, digital and AI on the profession. So, we have to prepare the accountants of today and tomorrow. Technology is a fast changing area. Although we have been examining digital within the ACCA Qualification for some time, to keep our students ahead, this year we are enhancing the digital content across many of our exams. We have conducted significant research to understand what skills and competencies are needed by professional accountants, both today and in the future. And in that research, we identified seven professional quotients for success namely Technical and ethical competencies (TEQ), Intelligence quotient (IQ), Creativity quotient (CQ), Emotional intelligence quotient (EQ), Vision (VQ), Experience (XQ) and, of course, Digital quotient (DQ). We know that digital is a vital professional quotient and so the ACCA qualification ensures that our students are developed and assessed in digital issues from the very beginning of their journey all the way to ACCA membership and beyond. By keeping our qualification and Continuing Professional Development (CPD) relevant, we will always keep ACCA students and members at the forefront of their profession.

In the world of disruptive technologies, the role of robotics cannot be ignored. How is robotics viewed within your midst, as a threat or an opportunity?
Robotic process automation includes software that performs repetitive processes and that is able to interact with multiple applications. However, it is controlled by humans. It is a natural next-step in the evolution of finance transformation. However, robotic process automation is not capable of building relationships, or replacing all systems and staff. Hence, it is not a threat to value-added accountancy services, but a real opportunity. It is already providing a cost-effective alternative to shared service centres, the SSCs or some business process outsourcing, the BPOs.

“Accountants need to be able to feel comfortable about reporting crime, or whistleblowing.”

The change that technology, mainly those technologies termed as disruptive as a whole, is setting on all professions is astounding. Accountancy is considered by many as a solidbased profession. Are you sufficiently aware of the impact that technologies will have on the profession?
Technology is indeed changing the traditional role of ‘the accountant’. This provides a unique opportunity for accounting and finance professionals, which mean that digital should enable finance to shift up the value chain from score keeper and caretaker to communicator and business partner. And we know in this regard that the next generation of accountants are aware and ready. ACCA’s Generation Next report, based on a survey with the participation of 18,000 professionals under the age of 36, shows that more than half, that is 57%, of respondents believe that technology will replace many entry level roles in the profession. However, the majority, that is 84% of respondents, say that technology will enable them to focus on much higher value-added activity.

If what is being revealed through enquiries and investigation performed by some journalists about the potential perversion of financial system for fraudulent purposes is proved to be true, one cannot exclude accountants from any direct participation in such a scam. Should accountants still be relied upon?
Yes, they should. In the case of ACCA, our members have studied hard to become professionally qualified and they strive to prove their competence and to stick to ethical rules. To become an ACCA member, you need to pass our qualification, have three years of experience and also undertake Continuing Professional Development. Once a person is admitted to ACCA’s student register, he must pass up to thirteen examinations, complete three years’ work experience and pass the Ethics and Professional Skills module before applying to be admitted to ACCA membership.

All ACCA members have to abide by an international code – called the International Code of Ethics for Professional Accountants. This code is amplified with additional requirements and guidance that are appropriate to ACCA and to our members in our own Code of ethics and conduct. This is binding on all members and students of ACCA and sets out a number of ethical principles including professional behaviour that ensures that someone complies with relevant laws and regulations and avoids any conduct that discredits the profession.

How are accountants able to use their position within an organisation to detect fraudulent practices and participate in activities aiming at eliminating malpractices in the financial world?
Accountants are adept at spotting risks – including fraud and especially of course financial fraud and linked risks. So, this is a central part of their role. But criminals are becoming increasingly clever about how they can hide malpractices. Accountants need to be trained and be up to date on the latest techniques, but they also need to be able to feel comfortable about reporting crime, or whistleblowing. Risk management is part of the ACCA Qualification and is also part of our Continuing Professional Development for members.