Adoption of virtual technologies and their effect on the future practice of the accounting profession

Over the years, the accounting function shifted from human efforts in the record-to-report process to digital solutions in the delivery of timely information. In this regard, many tasks are becoming hybrid human-robot tasks, highlighting the need for accountants who can effectively leverage their unique strengths to enhance productivity and efficiency. This study examined the effect of these key changes in the practice of the accounting profession that result from the use of virtual network applications. The study combined practical experience with literature reviews. It concluded that the adoption of virtual technologies in accounting only requires complementary skills and is not necessarily disruptive to the practice of the profession. It was recommended that substantial reforms be implemented in accounting education and professional development, emphasising the necessity of a more interdisciplinary approach. This approach should encompass the integration of ethical principles and technological proficiency to equip future practitioners with the skills required to navigate the increasing complexity and dynamic nature of the accounting profession.