University accounting programmes and the development of Industry 4.0 soft skills

Ben Marx,Peter A Lansdell,Ahmed Mohammadali-Haji

doi:10.4102/jef.v13i1.470

Abstract

Orientation: The Fourth Industrial Revolution (Industry 4.0) is anticipated to have a significant impact on the future generation of professional accountants. Accordingly, current and aspirant accountants are expected to acquire and develop soft skills, which will enable them to add value as responsible business leaders and thrive within Industry 4.0. Research purpose: The overarching purpose of this study was to elicit the perceptions of entry-level chartered accountants in South Africa (CAs [SA]) on the development of soft skills during a university accounting programme, specifically those soft skills demanded by Industry 4.0. Motivation for the study: Limited research appears to exist with specific focus on the perceptions of entry-level CAs(SA) regarding the development of soft skills during a university accounting programme. Research approach/design and method: University accounting programmes accredited with the South African Institute of Chartered Accountants (SAICA) were the focus of the empirical work. A questionnaire was used to obtain the exploratory results, which yielded a response rate of 40.77%. Main findings: The quantitative results indicated that the particular accounting programme in question was perceived to have developed most of the soft skills required by Industry 4.0. Practical/managerial implications: One of the implications of this study is that the university accounting programme providers should place more emphasis on the development of soft skills, specifically those related to Industry 4.0. Contribution/value-add: The results of this research contribute to the existing body of knowledge by articulating the views of entry-level CAs(SA) on the development of Industry 4.0 soft skills.

Highlights

The environment in which professional accountants work and function is subject to constant change
This section discusses the results of the study. It firstly explores respondents’ awareness about the soft skills required by Industry 4.0 and the role which the accounting programme is perceived to play within this context
This is followed by a discussion of the extent to which the soft skills are being developed, using the South African Institute of Chartered Accountants (SAICA)’s levels of proficiency as a benchmark

Summary

Introduction

The environment in which professional accountants work and function is subject to constant change. Fail[s] to meet the expectations of employers or [is] not concurrent with the requirements of the real world of business (Agyemang & Unerman 1998; Birkett 1993; Brown & McCartney 1995; Burrows 2017; Hassall et al 2005; Hutchinson & Fleischman 2003; Kim, Ghosh & Meng 1993; Mohamed & Lashine 2003; NCVER 2003; Usoff & Feldmann 1998; UWN 2016) These studies suggest that the accounting programme has the main responsibility to develop entry-level accountants’ soft skills (Ashbaugh & Johnstone 2000; Bonk & Smith 1998; Boyce et al 2001; Greenberg 1997; Henderson 2001; Howieson 2003, 2014; Institute of Chartered Accountants Australia [ICAA] 1998; Jackson & Cherrington 2002; Johnstone & Biggs 1998; Kern 2002; Sergenian & Pant 1998; Tempone & Martin 2003; Tinker & Feknous 2001). A transformative approach is required that expands on the thinking about the ‘type’ of soft skills to be developed by universities in order to meet the demands of Industry 4.0 (Barac & Du Plessis 2014; Olivier 2017; Schwab 2016; Wunsche 2016)

Objective and limitation

Literature review

Research methodology

Results and discussion

Data availability statement