It is well known that regulations can change, and the country's tax conditions can change as well; however, the role of the public accountant will remain. In light of this, Diego Quijano, CEO of BDO in Colombia, discusses the functions that a public accountant applies today, which go beyond financial statements or tax returns. He reminds us that accountants have the capacity to generate valuable information for the decision-making of organizations, investors, and individuals.
It is important to understand that the services provided by an accountant must be adapted to the pace at which businesses operate. For this, technology becomes an ideal tool to add value to their management.
According to this vision, the innovation of an accountant is not directly related to the use of technology or digitization; it goes beyond that, considering that the most important thing is to keep up with new ways of doing business. From there, new services can be created or distinctive products can be generated in the market. In this sense, "we are prepared to provide valuable information, advising decision-makers in public or private entities. To do so, it is necessary to have a deep understanding of the industries we serve, relying on technological tools," says Diego Quijano.
The areas of work for public accountants range from providing non-financial information preparation and presentation services, such as integrated reports, sustainability reports, among others. Nowadays, the evolution of markets and requirements give more attention to non-financial information, focusing on each client's needs. It should be noted that accountants are also capable of providing financial information services.
On the other hand, Diego Quijano mentions that although new technologies include terminologies that are not foreign to him, such as data analytics, data mining, business intelligence, these terms should not be seen as a threat to a professional in accounting. On the contrary, it is a call to professionalize the role of the accountant, adding value to organizations, and an invitation to become more efficient in their work.
Finally, it is crucial to understand how an accountant should charge for their services. "The accountant must evaluate the task requested and the effort required for its execution: planning, completing, and ensuring it. Preferably, charging by the hour. In this context, it is essential to consider delivery times, hours dedicated to reviewing standards and procedures, as well as the software required for each task," concludes Quijano.