Bridging skill gaps and creating future ready accounting and finance graduates: an exploratory study.

Abstract

Background: Changing trends in the use of technology have become an impelling force to be reckoned with for the accounting and finance profession. The curriculum offered in higher learning institutions must be quickly revamped so that students who complete a bachelor's degree are digitally competent upon graduation. With US$55.3 billion invested in FinTech in 2019 alone and more than 72% of accounting jobs being automated, graduates must be trained on digital skills to be future proof. Accounting and finance graduates must be made competent in skills that are related to digital content such as blockchain technology, information assets and autonomous peer to peer systems, to name a few. Methods: We used a three-phase approach: 1) careful mapping of digital topics taught within the course structure offered at these institutions; 2) review of current best practices and digital learning tools for digital inclusion which was ascertained from literature; and 3) 80 experts in a think tank group were interviewed on antecedents, awareness and problems in relation to digital inclusion within the curriculum to validate our research objective. Results: Eleven key tools for inclusion in the curriculum were discussed with experts and then mapped to current curriculum offered at institutions. We discovered that less than 5% of these were being taught. In total, 78% of experts agreed that digital content is inevitable, 90% agreed that digital inclusion based on tools that were discussed will yield great benefits for students, and lastly 75% agreed that giving digital exposure to students must be standard practice. Conclusions: The response from experts confirms that digital inclusion is imperative, but instructors themselves lacked the know-how of emerging technologies. Only the curriculum of institutions with approved bachelor's programs were included in this research. In our future work we hope to include all institutions and professional bodies as well.