The e-professional embracing learning technologies

According to the Association of Chartered Certified Accountants (ACCA), technology is now embedded in the workplace: nearly all numerical and written work is done via computers, and the way research, analysis and assurance is carried out has been transformed by technology and access to the Internet. As more and more activity goes online, finance professionals are keeping up with regulation, filing reports, accessing data and so on, remotely in cyberspace. They are becoming e-professionals.

The ACCA recently issued The eProfessional Embracing Learning Technologies. The report shares the views of a panel of experts from multinational corporations, global professional services firms, learning providers and other professional bodies, on current and future trends in online learning and assessment.

It explores the world of the accountant, focusing on three areas:

·       how online approaches to learning and assessment are affecting professional development at an individual level;

·       the impact these learning technologies are having on employers of finance professionals; and

·       what the future of online learning and assessment may look like.

The conclusion (on page 5 of the report) notes that: “The panellists point to two key reasons for the shift in attitudes and the dramatic rise in uptake of learning technologies during the first decade of the 21st century:

·       First, e-learning provides more sophisticated options for knowledge acquisition and application, largely thanks to the increased capabilities of mobile devices, technologies such as Skype, learning apps and game-based learning.

·       Second, technological developments are driving new learning approaches which are considered to be more flexible and fit for purpose. Learning programmes now fit around work, rather than work being accommodated around study leave.”

Furthermore, it states that: “This sophisticated blend of learning approaches is facilitating a much more strategic approach to professional development. Organisations are integrating learning technologies into their growth plans to ensure that they capture the advantages of flexibility, innovation and sophistication that can be realised through a technology-enabled people strategy. The panellists are in no doubt that the developments we have seen so far are merely the tip of the iceberg, and that further shifts will follow, driven not just by technology, but also by global factors, strategic change and professional endeavour.”

In addition to this report (also available as The eProfessional – Five Minutes On), the ACCA website presents video interviews with PwC’s global development leader - Richard Pollard, CEO of BPP Business Schools - Martin Taylor and managing director of Towards Maturity - Laura Overton.

Collaboration on Professional Judgment Matters for CAs – Part 3 of 3

As previously noted, a new research report has just been completed on Professional Judgment Matters: Assessing the Merits of Enhanced Communication and Collaboration.

The following discussion is Part 3 of a three-part excerpt from the executive summary in the report.


“Chapter 6 reviews recent developments and other matters that are pertinent to the evolution of professional judgment. The focus is on the following topics:

• Using a Professional Judgment Framework;
• The Art of Critical Decision Making; and
• The e-Professional Embracing Learning Technologies.

With regard to using a professional judgment framework, KPMG has observed that the mindset, skills and techniques behind good judgment begin to form at a young age and can be taught and improved with experience and practice. It is critical that accounting and auditing students receive a strong foundation in the fundamentals of professional judgment. Furthermore, research in the areas of judgment and decision making over the last few decades indicates that additional knowledge about common threats to good judgment, together with processes and tools for making good judgments, can improve the professional judgment abilities of both new and seasoned professionals.

According to the Harvard Business School course, “Art of Critical Decision Making,” bad decisions are usually made because of a poorly thought-out decision-making process. If decision makers put more emphasis on how to make a decision, ensure that they remove personal biases, collect information beforehand, glean the diverse perspectives of others and perform other constructive activities, they can vastly improve the strength and success of the process.

Finally, it is time to acknowledge that technology is now embedded in the workplace. Nearly all research and analysis has been transformed by technology and access to the Internet. As more and more activity goes online, accounting professionals are keeping up with regulation, filing reports, accessing data and so on, remotely in cyberspace. They are truly becoming e-professionals.

In summary, the seven-step approach to this initiative had a single purpose. The goal was to answer the research question posed in the project proposal: “With regard to professional judgment matters, is there a need for enhanced communication and collaboration by Chartered Accountants?”

Based on the results of the academic and professional literature review, the interest shown in the communications blog, and the collective views expressed by CAs in face-to-face meetings and by an online survey, the answer is clear. It’s time to collaborate! Accordingly, Chapter 7 completes the research report by setting out practical ways to move forward. It offers a number of suggestions regarding the nature and extent of the content that would be appropriate for an Internet-based resource centre. In addition, it suggests who would be appropriate to host this centre, both initially and ongoing.”

Additional excerpts from the executive summary are provided in Part 1 and Part 2 of this series of posts.

Collaboration on Professional Judgment Matters for CAs – Part 2 of 3

As previously noted, a new research report has just been completed on Professional Judgment Matters: Assessing the Merits of Enhanced Communication and Collaboration.

The following discussion is Part 2 of a three-part excerpt from the executive summary in the report.


“Chapter 2 reviews the current academic and professional research literature on professional judgment. A number of important observations can be drawn from that review, with respect to the CA profession, decision making in financial reporting and auditing (including the role of professional scepticism) and the exercise of professional judgment.

The most important finding is that CAs need to keep in mind, at all times, the Rules of Professional Conduct. The Rules state that: “It is a mark of a profession that there is a voluntary assumption, by those who comprise it – the professional community – of ethical principles which are aimed, first and foremost, at protection of the public and, second, at achieving orderly and courteous conduct within the profession.” Furthermore, according to IFAC, the fundamental principles of professional ethics include integrity, objectivity, professional competence and due care, confidentiality and professional behaviour. All professional accountants must adhere to these principles regardless of the career path they may choose.

Chapter 3 is about creating a communications blog. It refers to two blogs, Migrating to IFRS and Corporate Reporting to Stakeholders, both of which emphasize Internet-based communications and the exercise of professional judgment. The number of postings to date and the significant number of pageviews for the recent period provide a measure of the success of Internet-based communications. This chapter concludes that it has been a very short time since the blog on Professional Judgment Matters: Guidance for Chartered Accountants was created on June 18, 2011. Considering the small number of posts to date (24), it is encouraging to see that the level of interest in the subject matter (research and guidance) is steadily increasing. It is also encouraging to see that the interest is becoming global in nature. This suggests that “If you build it, they will come!”

The project proposal for this research initiative calls for an open dialogue with selected CAs. The dialogue included seven face-to-face meetings on an ad hoc basis over a six-month period and an ongoing series of e-mails. In addition to a candid exchange of views, the participants provided several significant materials dealing with professional judgment matters. Those matters are discussed in Chapter 4 under four subtopics:

• Professional Judgment: A Pillar of Accounting Education;
• Teaching and Learning Professional Judgment;
• Outline for a Course on Professional Judgment; and
• Accountants’ Insecurity Relating to Work Diversity.

The dialogue also provided a strong incentive for engaging with CAs on a broader basis. This led directly to the development of an online survey to assess whether there is a need for enhanced communication and collaboration by CAs. Chapter 5 presents the results of an online survey called “Professional Judgment Matters for CAs.” The survey results reinforce the findings in the research literature and the key messages conveyed during the dialogue. Overall, there is considerable support (84%) for enhanced communication and collaboration by CAs, facilitated by an Internet-based resource centre.”

Additional excerpts from the executive summary are provided in Part 1 and Part 3 of this series of posts.

Collaboration on Professional Judgment Matters for CAs – Part 1 of 3

A new research report has just been completed on Professional Judgment Matters: Assessing the Merits of Enhanced Communication and Collaboration. The aim is to stimulate dicussion and debate on the exercise of professional judgment by Chartered Accountants.



The executive summary in the report states that: “Chartered Accountants (CAs) practice in a wide variety of fields including public accounting, industry, government, education, research, consulting, regulation and standard setting. In each of these areas, CAs are recognized for their expertise and for their ability to exercise sound “professional judgment” in a multitude of different contexts.

According to the academic research, the value of professional judgment is a function of both its importance and its quality, and each depends on the other. Together, these two attributes provide the foundation for this research initiative, which assesses whether there is a need for enhanced communication and collaboration by CAs on professional judgment matters. In other words, can an Internet-based professional judgment resource centre help to improve the quality of professional judgment? This is in the public interest, as well as the interests of policy developers and the business community. Clearly, it is also in the best interests of the profession. 

This research initiative takes a seven-step approach, as follows:

• Step 1 – Review the definitions of professional judgment (see Chapter 1);
• Step 2 – Review the current research literature (see Chapter 2);
• Step 3 – Create a communications blog (see Chapter 3);
• Step 4 – Open a dialogue with CAs (see Chapter 4);
• Step 5 – Undertake an Internet-based survey (see Chapter 5);
• Step 6 – Review recent developments and other matters (see Chapter 6);
• Step 7 – Suggest practical ways to move forward (see Chapter 7).

Chapter 1 explains the purpose, methodology and anticipated outcomes of this research initiative. It also provides several definitions proposed in the literature and professional standards with regard to professional judgment. In addition, it concludes that Chartered Accountancy meets the criteria for a “profession” because:

• there is mastery by the practitioners of a particular intellectual skill, acquired by lengthy training and education;
• there is a specialized code of ethical conduct, laid down and enforced by that society or institute, designed principally for the protection of the public; and
• there is a belief, on the part of those engaged in the calling, in the virtue of interchange of views, and in a duty to contribute to the development of their calling, adding to its knowledge and sharing advances in knowledge and technique with their fellow members.

In light of these criteria and others, it is apparent that sound “professional judgment” should be based on ethical behaviour together with an appropriate foundation of technical skills and critical thought processes, sustained and enhanced by professional development. In addition, it requires the application of relevant knowledge, expertise and practical experience in selecting a rational course of action.”

Additional excerpts from the executive summary are provided in Part 2 and Part 3 of this series of posts.