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These are 5 Advices from the Vice Minister of Finance for Professional Accountants to Survive from Industrial Revolution 4.0

Jakarta, 04/09/2019 Ministry of Finance - Vice Minister of Finance Mardiasmo shared five (5) suggestions that the accounting profession can remain relevant and even provide added value for its users in the industrial revolution 4.0 era.
 
The advice he gave was first to strengthen accounting expertise and skills as core competencies. Second, maintaining high ethical values ​​and standards (integrity) and not allowing fraud. Third, expand knowledge related to information technology, communication and management. Fourth, being able to simplify the problem and provide solutions (professional judgment) for its users not only do the work of recording, processing, and sorting transactions. Fifth, maintain trust  in providing advice (professional judgment) for its users.
 
This was conveyed by the Vice Minister of Finance at the 2019 Aspiring Professional Accountants Festival (APAFEST) at the Main Hall of the Indonesia Stock Exchange (IDX), Jakarta, Wednesday (04/09).
 
The traditional accountant profession that relies more on the ability to record and analyze financial and audit reports on tangible assets is likely to be replaced by artificial intelligence (AI) robotics and big data analysis.
 
"If accountants still use conventional or traditional approaches will be replaced by technology. Fifty-nine percent (59%) of their small companies think that in the next 10 years there will be no need for an accountant profession anymore," explained the Vice Minister in front of accounting students and members of the Indonesian Institute of Accountants (IAI).
 
On that occasion, the Vice Minister gave an example while criticizing the current financial statements which are only able to measure and estimate the company's performance in terms of tangible assets (such as buildings, machinery, vehicles). Whereas intangible assets (for example intellectuality and human resource innovation) cannot be measured optimally, even though the era of the industrial revolution 4.0 companies that are able to optimize human resources (HR) in optimizing technology and innovating are often able to defeat companies that rely on physical assets.
 
Thus, the Vice Minister encouraged investment in the future in the field of HR to be prioritized. In the context of fostering and developing the accounting profession, IAI focuses on preparing human resources accountants who are able to adapt and provide added value in the era of the industrial revolution 4.0.
 
"Indonesia's excellent human resources are progressing according to the IAI tagline that is mastering change and preparing for the future," concluded the Vice Minister.
(btr/hpy/nr)