A recent report by’ Professional Accountants – The Future: Drivers of change and future skills’ (ACCA) identifies the main drivers for change that will have the most impact on the profession: a collection of technical knowledge, skills and abilities, combined with interpersonal behaviours and qualities.
Each Accountants professional quotients (PQ) reflects their competency and skill cross seven constituent areas:
Technical skills and ethics (TEQ):
The skills and abilities to perform activities consistently to a defined standard while maintaining the highest standards of integrity, independence and scepticism.
Intelligence (IQ):
The ability to acquire and use knowledge: thinking, reasoning and solving problems.
Creative (CQ):
The ability to use existing knowledge in a new situation, to make connections, explore potential outcomes, and generate new ideas.
Digital (DQ):
The awareness and application of existing and emerging digital technologies, capabilities, practices and strategies.
Emotional intelligence (EQ):
The ability to identify your own emotions and those of others, harness and apply them to tasks, and regulate and manage them.
Vision (VQ):
The ability to anticipate future trends accurately by extrapolating existing trends and facts and filling the gaps by thinking innovatively.
Experience (XQ):
The ability and skills to understand customer expectations, meet desired outcomes and create value.
What are your skills like across these 7 areas of core competence?
In December 2022, CPD For Accountants is providing accountants, managers, partners and administrators with discounted access to a range of eLearning courses designed to improve personal, team and firm performance – all at 25% discount on standard fee.
