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Africa's accountants happy to move into digital domain

By , Journalist
Africa , 15 May 2017

Africa's accountants happy to move into digital domain

Jackie Hussein, managing partner for accounting and audit platform, Caseware Africa, said that "it is now a given that organisations and corporates should adopt technology".

She said there has been an overwhelming response to the rollout of platforms that allow for the integration of digital tools.

"There is a technology drive from corporates with subsidiaries across Africa to entrench cloud tools into accounting and audit. Now there is realisation that accountants and auditors can work on one document at the same time," Hussein added.

As the accounting profession pushes more for compliance and transparency, experts in the industry say it is now more pertinent than ever to adopt digital tools.

Hussein said the current trend is for companies to take a week or so to complete monthly accounting reports, but digital tools enable accountants to reduce the turnaround time to one day.

Although there is growing interest in the uptake and appreciation of cloud and digital tools adoption in accounting and auditing, Hussein said there is still need for companies to effectively manage the change element in the switch to technology tools in the profession.

"The only challenge we have encountered, especially with Zimbabwean corporates and public organisations, is a change management issue. But people have accepted technology and right now we are at the stage where people are asking what is it that works better for us and they realise technology works," Hussein added.

She said that only a "small percentage of our older generation" still struggle to manage the switch to technology in audit and accounting.

Caseware Africa has been operating on the continent for the past 20 years and has built upon that experience.

The platform has now been broadened to cover a wider range of services, such as monthly management reports, while the elimination of lengthy period preparing for statements and reports has enabled auditing and accounting personnel to multitask on previously unattainable levels.

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