IMPLICATIONS
The profession’s trademark analysis and
problem-solving skills can help
accountants to manage the complexity
of the vast amounts of data being
generated.
Opportunities
• Improve understanding of market
conditions, forward planning and
risks.
• Potential to increase business
effectiveness and lower process
costs.
• Transform audit and forensic
accounting by improving corporate.
• Level playing field for small
businesses and larger organisations.
Challenges
• Shortage of data mining and
interpretations skills.
• Knowing which questions to ask to
gain insights.
• Affordability, interoperability and
standards.
• Obtaining high quality data. Lots of
data is not the answer.
• Data security, privacy and other
important legal issues.