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ICMA’s Chartered Management Accountant, Jan-Feb 2025
E x c lus iv e I nt er v iew

evolving world. Currently, the Panel is in the early stages
of exploring how AI is reshaping the learning process,
the AI competencies future accountants will need, and
ICMA: How is digital transformation reshaping the transformation and other critical topics, all available the development of new pathways for aspiring
global accounting profession? through our Knowledge Gateway. I encourage you to professionals to obtain accountancy quali cations. At
explore and take full advantage of them! the same time, it is nalizing revisions to IES 6 on Formal
Lee White: We are living in an incredibly exciting time for Assessments to modernize the standard, re ecting
the accountancy profession. Some see digital ICMA: How can emerging technologies like AI be post-pandemic realities such as increased online
transformation as a threat—but I strongly disagree. leveraged to enhance accounting practices? examinations and new approaches to ensuring equity in
Digital transformation is an opportunity. Technology the assessment process.
allows us to automate routine tasks, freeing up more Lee White: AI is revolutionizing the way accountants and ICMA: How can ethical standards be maintained amidst
capacity to deliver high-value insights, drive strategic auditors work, enabling them to process and analyze vast rapid technological advancements in accounting?
decisions, and create a greater impact. The role of trusted amounts of data with greater speed and accuracy.
advisers—those with the distinctly human qualities of Auditors can leverage AI to uncover hidden patterns, Lee White: Throughout digital transformation, one thing
deep expertise, integrity, and professional ethics—has correlations, and insights—enhancing predictive remains constant: the indispensable role of our
never been more important and will remain analytics, risk evaluation, and fraud detection. Generative principles-based International Code of Ethics. No matter
indispensable. AI is also proving to be a valuable tool for drafting audit how much technology evolves, our profession’s high
reports and distilling complex information. But let’s be standards and unwavering commitment to integrity will
ICMA: How does IFAC support and guide accountants clear: all of these applications require oversight and ICMA: How can digital tools improve the quality and not change. Ethics will always be our anchor. As we
in embracing digital transformation? human judgment. AI is a tool, not a solution. transparency of nancial and sustainability reporting? navigate new ethical challenges, it is up to each
Lee White: The accountancy profession is embracing the Lee White: As our profession embraces technological professional to approach emerging technologies with an
future, and IFAC is committed to leading the way. As the innovations, we have an incredible opportunity to inquiring mind—recognizing their potential while
global convener of the profession, our role is to ensure enhance both the e ciency and impact of our work. remaining vigilant about unintended consequences.
that knowledge, best practices, and emerging trends are However, we must remember that accountancy is
shared across the profession—allowing us to challenge fundamentally built on accountability and trust. The rise
and inspire one another to keep evolving. We are of digital technology doesn’t diminish these
dedicated to equipping professional accountants with principles—it makes them even more critical. No matter
the insights they need to thrive in the digital era. That’s how advanced our tools become, professional
why IFAC provides a wealth of resources on digital accountants remain responsible for driving outcomes,
ensuring accuracy, and upholding integrity. Technology
is a powerful enabler, but the human element remains
the most essential factor.
ICMA: What challenges do accountants face in the
digital era, and how can IFAC help address them?
Mr. Lee White Lee White: I fully recognize that some in our profession ICMA: What advice would you give to accountants
may feel anxious about how technological advances
looking to thrive in a rapidly digitizing industry?
CEO, International Federation could impact our relevance. However, this Lee White: The best way for professional accountants to
transformation presents an opportunity to add even
thrive in digital transformation is by embracing
of Accountants (IFAC) more value and enhance our signi cance to clients and continuous learning and upskilling. Our profession must
organizations alike. No one has to navigate this shift
alone. Professional accountancy organizations serve as take a proactive approach, deepening our
understanding of AI, data analytics, and digital tools that
“ the backbone of support for individual accountants, and enhance our capabilities—with strong support from our
IFAC remains fully committed to working closely with our
professional bodies. That doesn’t mean we need to
The best way for professional accountants to
member bodies—like ICMA Pakistan—to connect them
thrive in digital transformation is by embracing with global best practices, thought leadership, and the become data scientists. But just as we are developing
pro ciency in sustainability-related data, we must also
tools needed to embrace digitalization with con dence. build uency in AI and other emerging technologies.
continuous learning and upskilling. Our ICMA: How is IFAC modernizing the global One thing is certain: our roles are evolving, bringing both
profession must take a proactive approach, accounting education framework to prepare future opportunity and responsibility. If we keep pace, we will
professionals? continue to provide the trusted, decision-useful insights
deepening our understanding of AI, data Lee White: IFAC’s International Panel on Accountancy that businesses, economies, and societies rely on.

analytics, and digital tools that enhance our Education plays a critical role in shaping the future of our The Editorial Board thanks Mr. Lee White, CEO, International
profession. It oversees the International Education Federation of Accountants (IFAC) for sparing from his precious
Standards (IES)—the global baseline for accountancy time to give exclusive interview for Chartered Management
professional bodies education—ensuring they remain relevant in a rapidly Accountant Journal.

10 ICMA’s Chartered Management Accountant, Jan-Feb 2025
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capabilities—with strong support from our “