Zairul Nurshazana Zainuddin¹, Mahfuzah Ahmad^2♣, Nurul Ezhawati Abdul Latif¹, Faizal Mohamed Yusof¹, and Suzana Sulaiman¹

¹Faculty of Accountancy, Universiti Teknologi MARA, UiTM Shah Alam, Selangor, Malaysia

²Faculty of Accountancy, Universiti Teknologi MARA, Tapah, Perak, Malaysia

 

ABSTRACT

The recent rise of big data, cloud computing, artificial intelligence, and blockchain technology is a wake-up call for the accounting profession. They face numerous challenges in adapting to the demanding cyber era. This study was conducted to examine the internal and external factors that drive the emerging competencies among professional accountants in Malaysia. A qualitative approach was employed with a semi-structured interview conducted with companies awarded Graduates' Choice Awards, Company of The Year, Best Workplace Practices Award and Corporate Social Responsibility Leadership Award in recent years. This study found that internal factors such as the company's vision, leadership change, individual achievement indicators, technology and business process are the main contributors influencing the changes in the accounting function. On the other hand, external factors such as political issues, the requirement to respond to green the environment, and the COVID-19 pandemic have caused the emergence of competencies among professional accountants. The competencies include soft skills, empathy, analytical, leadership, communication, emotional intelligence, integrity, and flexibility. This is consistent with the stakeholder theory by Freeman, which explains that different stakeholders' expectations lead to changes in how organisations operate. Indirectly forcing the accounting profession to respond accordingly.

Keywords: Factors, Competency, Cyber era, Professional accountant, Stakeholder

^♣Corresponding Author: Mahfuzah Ahmad, Faculty of Accountancy, Universiti Teknologi MARA, Perak Branch, Tapah Campus, 35400 Tapah Road, Perak, Malaysia; Email: This email address is being protected from spambots. You need JavaScript enabled to view it.; Tel: +60193156300