Published Paper Details:

In the twenty -first century technology is shaping the entire world. It is affecting almost all aspects of modern life from individuals to societies, from economies to culture. Technological developments, globalization, and increasing competition are forcing professions to change constantly. Accounting is not an exception to that. Accounting, being the language of business, has been serving every trade ever since its beginning. The ever-evolving digital technologies are making accountancy profession the mostly affected sector in ways that have not yet been imagined, which induces the author to explore the major challenges and exciting opportunities for the accountancy profession of the present world. Although digital transformation of accounting is becoming inevitable day-by-day, many business owners and professionals are still not sure about whether it is a challenge or opportunity for them, what its benefits are or how it will shape the accounting profession in the coming years. This paper has been made in an attempt to provide a theoretical basis for them who are somehow connected or will be attached to the world of accounting in future. In this paper the information has been collected, gathered and presented based on the most recent studies, survey reports, and researches conducted by different professional bodies, accounting experts and some other renowned corporate worldwide. It revealed from the study that the accounting professionals must have to cope with the rapid technological advancements in order to remain consistent and relevant in the accounting industry by facing the challenges in a tactical way, staying up-to-date with modern technologies, optimizing and adapting current accounting softwares, being open to accept, and making the most of the opportunities being presented to them.