CPA and ACS enhance IT and accounting prospects with MoU

CPA Australia and the Australian Computer Society (ACS) have committed to collaborating to enhance the career prospects of IT, accounting and finance professionals by signing a memorandum of understanding.

According to the associations, together they would co-design, develop and deliver training programs and thought leadership with the aim to improve career development opportunities in IT financial procurement, AI and ethics and cryptography management.

The agreement would also feature a specific focus on cyber security, with details of a new program to be announced soon.

Chris Freeland, chief executive of CPA Australia, said was the next step in recognising the continuation and development of the existing partnership between the bodies.

“ACS and CPA Australia have strong ties and common interests. Both are invested in future proofing the global workforce through mutual activities in skilled migration, educational program accreditations and meaningful skill capability development programs for both our members and affiliate professionals to help bridge the gap between operational and economic management,” Freeland said.

“The intent is for associations to strengthen these current synergies by working together on developing a longer-term vision, one that will benefit all IT, finance, and accounting and adjacent career professionals.”

The organisations committed to signing an MoU after it was recognised that it was important to continue working together based on the fast-paced change in professional skills required by current and emerging professionals.

The bodies noted they wanted to develop pertinent specialism streams to support professionals in enhancing their skill capabilities across the intersection between the technical and financial literacy spheres.

“Recognising that AI is a burgeoning area of technology that could affect every area of the workplace, CPA Australia and ACS will work together by using our extensive networks of subject matter experts to co-design and build training programs to help those working across the finance, accounting and IT sectors use AI effectively and ethically,” Freeland said.

Freeland and Josh Griggs, chief executive of the Australian Computer Society, signed the MoU at a ceremony held in Sydney and discussed upcoming collaborative opportunities.

Griggs said ACS extended its recently announced Cyberknowledge partnership to include CPA members as it recognised the critical importance of cyber security in today’s business landscape.

The cyber security platform would provide accounting professionals with the essential capability to help SMBs assess and improve their cyber resilience.

“Technology has become a critical part of the accounting profession, particularly in areas like the adoption of artificial intelligence, development of IT skills, and cybersecurity,” Griggs said.

“We are also pleased to be working with CPA Australia to incorporate the Skills For The Information Age framework into their continuous learning program. This will ensure accounting professionals have the technology skillsets demanded by the modern economy.”

“ACS looks forward to working with CPA Australia to ensure Australian businesses have the tools and skills to ensure they are competitive and secure in an increasingly globalised and technology-driven world.”