The Accounting Education: Is a Paradigm Shift Needed?

Abstract

The purpose of the article is to present the current trends in the accounting profession, related to the need to acquire complex knowledge, skills, and competencies to achieve a successful career in the conditions of digital transformation. In this regard, the following are considered: traditional and modern accounting concepts; possible guidelines for professional realization; necessary skills and competencies for a successful accounting career; contemporary challenges and perspectives for the accounting profession; emerging job roles related to the increasing use of digital data, artificial intelligence (AI) and automation. Research insights related to the need to implement a multidisciplinary approach in accounting education are presented. Based on the International Educational Standards (IES) published by the International Federation of Accountants (IFAC) and the Canadian CPA Profession Competency Map, the necessary skills and competencies for a successful career in the accounting profession are outlined. In this context, the role of the educational system has been investigated.