Helen Brand, the CEO of ACCA (Association of Chartered Certified Accountants) launched a report from an international study which identified seven attributes essential to success for accountants and finance professionals.
Speaking at the launch, Helen said “The accountant’s role has been revolutionised over the past decade, with finance professionals becoming leaders, trusted expert counsel and key strategic advisers to organisations whether in the public or private sectors. “With this metamorphosis comes a requirement for a whole new set of skills. On top of technical excellence, professional accountants now require creativity, emotional intelligence and the vision to lead.”
ACCA has developed a set of seven ‘Professional Quotients’ – a mix of technical knowledge, skills and abilities formed with interpersonal behaviours and qualities to define what modern accounting and finance professional must look like, which gives anyone looking to recruit new staff a strong set of selection criteria upon which to assess their candidates.
Here's a summary description of each attribute you should be searching for when recruiting Accounting and Finance professionals:
- Technical and ethical competencies (TEQ): The skills and abilities to perform activities consistently to a defined standard.
- Intelligence (IQ): The ability to acquire and use knowledge: thinking, reasoning and solving problems.
- Creativity (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, strategies and culture.
- 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 predict 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.
Now that you have the framework of attributes for success and know what to look for, you still need to know the all-important ‘how’. Make sure you follow up and read our Facebook post next week, which outlines how an employer of accountants can assess whether a candidate has these vital ingredients of success to become a valued professional if appointed.