By Rajesh Singh
In today’s dynamic business environment, employers are looking for professionals who can go beyond traditional accounting tasks. They seek individuals with expertise in technology, data analytics, risk management, and sustainability. Over the last decade, data science and artificial intelligence (AI) have become critical elements across industries. Data science and AI have significantly transformed accounting and finance jobs by not only automating the basic accounting tasks, but also building systems for financial control, enhancing decision-making, improving risk management and shifting focus from execution of tasks to more strategic functions.
Employers today do not just require accountants or finance professionals who can prepare financial statements or do audit reports, rather they demand professionals who can solve complex business problems, ensuring financial success. To keep pace with this shifted dynamic, the Association of Chartered Certified Accountants (ACCA) has announced an overhaul to its curriculum to produce not only skilled accountants but also strategic professionals ready to lead in the digital age.
More than just a curriculum overhaul
ACCA UK which owns and runs the ACCA qualification globally, recently announced some major updates in the ACCA program framework and syllabus. The upcoming change is more than just an ACCA curriculum refresh; rather it is designed to ingrain the emerging areas of today’s fast-paced, AI and tech-driven world of accounting and finance. The overhauled curriculum that integrates AI, digital skills, sustainability, ethics and even innovation will be applicable mid-2027 onwards.
Being the world’s largest accounting body with representation in 180 countries globally, ACCA has stakeholders across the aspiring students, hiring companies, affiliates and members, and learning partners. The upcoming change in the ACCA curriculum is a direct response to growing demands of these stakeholders and industry leaders who want job-ready accounting and finance professionals. They now need professional skills, strategic insight, practical expertise and hands-on expertise with emerging technologies. A recent survey by PwC found out that 45% of CEOs are already seeing moderate to significant changes in their business models due to AI, highlighting the need for finance professionals to understand and leverage these technological shifts.
What will the new curriculum look like
In order to equip accounting and finance professionals with the workplace requirements of tomorrow, ACCA’s has restructured the exam papers at its levels and changed the nomenclature of its two levels from Applied Knowledge and Applied Skills to Knowledge and Expertise. Additionally, these levels will now have three papers at the Knowledge level, five at the Expertise, and three at the Strategic Professional level. The new curriculum will also have two less exams, accelerating the qualification journey for the candidates.
The ACCA FIA route, which is applicable to all the aspirants who don’t meet the standard eligibility requirements, has been completely revamped. The current subjects–Foundations in Business and Technology (FBT), Management Accounting (FMA), and Financial Accounting (FFA)–will be replaced with Accounts Preparation, Management Information, Decision Making with Data, enhancing the scope and bringing the focus on data concepts.
Notably, the global accounting body has modernized the subject content with Business & Technology to be replaced by Business Law at the Knowledge level, while Audit at the Expertise level now incorporates risk management. Financial Management will evolve to Finance & Investments, broadening its scope to financial markets, and Performance Management will integrate data analysis, emphasizing the need for data management. At the Professional level, Strategic Business Reporting will transform into Business & Sustainability Reporting, embedding ESG principles, and a brand-new Data Science Professional elective will be introduced, broadening the scope of the papers.
In addition, the new qualification will offer more optional papers (five instead of four) but will require candidates to pass only one elective exam, offering greater flexibility and focus on qualitative aspects. The revamped program will also introduce employability modules at each level, aiming to bolster career readiness in digital tech, innovation, ethics, leadership, and entrepreneurship. These changes underscore the global accounting body’s move to produce strategically adept, and future-ready accounting and finance professionals.
Candidates will be able to earn certifications and diplomas on completion of each level, recognizing their progress: the Diploma in Accounting & Business after passing ACCA FIA, the Higher Diploma in Accounting & Business for completing the Knowledge level, and the Advanced Diploma in Accounting & Business upon mastering the Expertise level. Passing the Professional level confers the full ACCA Qualification. Aspirants can also earn a B.Sc. Professional Accountancy and an M.Sc. Professional Accountancy degree from the University of London upon completion of the Expertise and Professional levels, respectively.
Accountants as strategic enablers for the future of work
The ACCA’s new curriculum overhaul recognizes that modern accounting professionals are no longer just number-crunchers; they are strategic enablers crucial for balancing profitability with purpose. The change is being brought in to prepare accounting professionals who can cater to the shifting expectations from the employers and industries worldwide.
Businesses today are increasingly seeking professionals who can navigate global economic volatility with ethical governance, sustainability, and tech-driven agility. Recent studies highlight that 67% of CFOs believe that a strong understanding of data analytics and AI is now a critical skill for finance professionals. With an integrated learning and assessment model, it will embed AI-driven journeys and simulated work experiences, to offer real-world application of the skills.
With AI and automation disrupting the industries and workplaces swiftly, accounting and finance cannot afford to be left behind and needs to swiftly adapt to this change. As the landscape of accounting and finance shifts with the rise of artificial intelligence, data science, and digital technologies, ACCA’s curriculum revamp is a timely response to produce not only skilled accountants but also strategic professionals ready to lead in the digital age.
The author is Growth Head, Global Certifications at Imarticus Learning.
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