The integration of technology in corporate reporting could significantly enhance the delivery of relevant and reliable information for corporate decision-making, according to a new report.
The primary conclusion have been drawn from a recent collaboration between academics and professional accountants, as per the findings of the British Accounting and Finance Association Financial Accounting and Reporting Special Interest Group (FARSIG).
Despite the potential benefits, the report also suggests that the availability of real-time, high-quality data that meets stakeholder needs is not yet within easy reach.
The challenges of geopolitical tensions, inflation, and climate change underscore the need for timely and connected financial and sustainability information, which was a focal point of FARSIG's annual symposium.
FARSIG chairman and senior lecturer in accounting and finance at Royal Holloway, University of London Christian Stadler commented on the symposium's discussions: "FARSIG’s symposium this year explored how corporate reporting fuelled by technology will transition from a conventional compliance exercise to a value-creating exercise. As the role of accountants expands to include advisory and business partnering, data-driven insights enhance the relevance and credibility of the advice they can provide to their colleagues and clients alike."
Stadler also emphasised the importance of maintaining trust and integrity in the profession, stating, "Balancing optimism with governance helps accountants to stay level-headed and build a culture of experimentation while respecting the ethical use of technology and data protection."
The 2025 FARSIG symposium delved into how technology is transforming the accountancy profession across various sectors, examining the impact of big data, blockchain, AI, and cloud accounting on the future of corporate reporting. It also addressed the valuation and disclosure of an organisation's AI capabilities and the integration of AI with other technologies.
The symposium highlighted the beckoning future of financial management through cloud accounting and big data, which promises real-time analysis and access, fostering collaboration and enhancing predictive capabilities and financial planning. Additionally, it sparked a debate on the necessity of the traditional annual report in the age of emerging technologies.
The Association of Chartered Certified Accountants (ACCA) head of sustainable business, policy and insights Sharon Machado expressed appreciation for FARSIG's work, saying, "FARSIG’s work always gives a fascinating glimpse of the key emerging issues in financial reporting and it is gratifying to see how many of the themes this academic group explores is echoed in the work that ACCA does through its professional insights programme. We continue to value our relationship with FARSIG."
繼續閱讀"Technology can boost corporate reporting" was originally created and published by The Accountant, a GlobalData owned brand.
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