Technology and future of finance - IFA Pakistan

By FD.Sheikh
Fri, 05, 19

Institute of Financial Accountants (IFA), member body of IFAC, organized its third series of quarterly conference here in Lahore......


Institute of Financial Accountants (IFA), member body of IFAC, organized its third series of quarterly conference here in Lahore, Islamabad and Karachi. The conferences were attended by a large number of business professionals, consultants and trainers employed in public practice, industry, and in the private sector. A good number of students also appeared in and got benefited from the events held in the prime cities of the country.

Talking about the theme of conference, “Technology & Finance”, keynote speakers including Mr Muhammad Abbass Khan Vice President Abacus Consulting and Mr Furqan Qureshi corporate trainer & CEO The Four Dees brought to light various aspects of latest technology in the field of finance.

While the business world is getting revolutionized with technology, human need and intervention is getting reduced at an alarming rate. “In future, I fear there will be no need of junior level accountant. Only strategic level decision making will be required. For this, students today will have to work hard in grasping the basic concepts of their respective fields”, said Mr Jawad Saleem, Group CFO - Outfitters.

However, Mr Asadullah Khan, Group Head Internal Audit & RAR Bank of the Punjab, did not share Mr Jawad’s opinion. In fact, he was convinced that “there will be more need of human interference in future because of technological advancement. All we need is a shift of our educational system to a more conceptualized and upgraded with modern trends.”

CEO Zahid Farooq & Co. Mr Zahid Farooq and Head of Tax - Mondelez International Pakistan Mr Muhammad Mozammil highlighted the significance of learning, unlearning and relearning. It is hard to embrace change in methodologies of doing business and performing systemized duties in corporate world. However, one has to learn new methodologies of performing old business practices. “Being updated to latest trends and approaches of doing business or performing job descriptions is the key of survival in this modern business world.”, said Mr Umer Jalil, CFO Siemens Pakistan.

Mr Abdul Shakoor, regional director of Institute of Financial Accountants Pakistan presented vote of thanks to all of the participants. After long day’s prolific discussions and presentations, the conferences were concluded with the hope that future of finance will be thoroughly revolutionized with advance technology and future finance leaders will be proactive in embracing the fast pacing changes in modern business world.