The Impact of Industry 4.0 on the Labour Market and Employment in the Financial and Accounting Sector

Authors:

Pages: 62-76
DOI: https://doi.org/10.54664/BKUQ4552

Abstract:

The purpose of this paper is to explore the impact of digital transformation on the future of the workforce both globally and in Bulgaria. The focus is on emerging trends and changes in the nature of work and employment of the financial and accounting workforce under the influence of digitalization. It summarizes the forecasts for the future of the accounting profession and for the extent of its transformation by the introduction of new technologies. As a result of the study, it has been established that the impact on the future projections of accounting is influenced by both the choice of a particular approach to assessing the impact of digitization on jobs and the degree of routinization of the work carried out. There is an increase in uncertainty in the profession. The increasing complexity of processes due to digitalization requires restructuring of accounting processes, new roles, and new competencies for accountants in order to respond successfully to the challenges of today and tomorrow.

Keywords:

Industry 4.0; digital transformation; technology; jobs; future forecasts; accounting profession.

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