Women Leading in Accounting
If you are curious about the future of accounting, why not look to industry expert Dabie Tsai. Tsai worked for more than two decades with KPMG, one of the Big 4 accounting firms, including over a decade as a partner. Over her career, she has lived and worked in four different countries in addition to providing services on projects in additional countries. Tsai was in charge of many large multi-million-dollar auditing projects. She supervised teams comprised of more than 200 members. Tsai is a living example of the changes occurring in the accounting field. In this time of change and female empowerment, accounting boardrooms are finally becoming more diverse, and women like Tsai are leading the reform.
Women Helping Women
Another trend in accounting is the push of women in leadership to mentor and empower other women. At KPMG, Tsai was recognized for her efforts and received the firm’s Mentoring Award. Accounting firms are rewarding such work and establishing programs to foster and encourage women in leadership. Tsai used that framework to help other women. She was an active Partner Champion in the firm’s Network of Women and also participated in its Executive Leadership Institute for Women. Accounting managements are no longer men-only clubhouses.
Computers, Data Analytics, and Artificial Intelligence
Of course, we are all aware that computers have changed our lives over the last 20 years, making the world so much smaller and creating the ability for instant communication. The accounting field has seen similar changes thanks to large-scale computer automation. One of the benefits of automation in accounting is the ability for computers to analyze large amounts of data. Computers can find issues that might be missed by traditional accounting methods. With the proper training, accountants can use the resulting data and analytics in several different ways.
The information can be used to look at past transactions, current accounts, and predict future trends. Machine learning and artificial intelligence are also changing the accounting field. Tsai recently forecasted that this will lead to “efficiency and effectiveness transformation where large amounts of information can be processed, analyzed, and evaluated expeditiously while identifying potential irregularities or complexities.” With women like Tsai at the helm, the future of accounting looks very bright indeed.