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An essay which details the profound effects of advances in technology and the recent economic climate on the role of accountants has brought success for a Nottingham University Business School student.
Rob Blackburn, who is studying towards a BA Hons in Management Studies, has been named runner-up Undergraduate of the Year by ACCA, the global body for professional accountants.
His entry to the competition cited examples such as the development of sophisticated software that can ease the bookkeeping process and can easily produce financial statements. These advances have meant the accountants are no longer the people who arrive at audit time and then disappear again, they are now involved in sophisticated analysis and business support decisions.
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Changes in the global markets have also changed the role of the accountant. Rob’s essay argues: “These days, too, numerous factors have driven businesses to change the information that they seek, with consequences for the roles of accountants, including those such as globalisation, technology, accounting scandals and corporate trends.
“Accounting scandals such as Enron led many accountancy firms to rebrand themselves as ‘professional services’ firms in an attempt to boost their integrity and shareholders now look to accountants to deliver a set of financial statements that they can trust, requiring a great deal of transparency and to ensure that the best value and returns are delivered to them.
“It seems that the current environment lends itself to a model where the finance function can have a great say in business matters and therefore firms should leverage the skills, knowledge and competences that finance professionals hold to find where most value can be driven. In the present climate, accountants will add most value to their organisations by ensuring finance operations are sound, and the business is provided with the right information to make superior decisions which ensure short-term survival.”
The essay supports the five ‘domains’ which ACCA identified where accountants can add value and help steer businesses; business strategy, analysis, regulation, custodial and operations. These are areas where accountants can provide vital input that can mean the difference between a company surviving or falling victim to the recession.
Andrew Leck, Head of ACCA UK said: “Rob’s essay was an excellent piece of work and he deserves his runner’s up prize. He looked at current issues and their impact on the profession in which he wants to work.”
Professor Nicholas Bacon, Rob’s Personal Tutor at Nottingham University Business School. “This is excellent news and naturally I am delighted to support this event and to warmly congratulate Rob on his success. We are very proud of our students and their achievements.”
Professor Jim Devlin, Director of Undergraduate Programmes, Nottingham University Business School said: “I would like to take this opportunity to congratulate Rob on his excellent achievement. His academic abilities and personal qualities have enabled him to produce an outstanding essay, which is also indicative of the high quality of students studying at Nottingham University Business School.”
A picture of Rob Blackburn is available to accompany the story on request.
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Notes to editors: The University of Nottingham is ranked in the UK's Top 10 and the World's Top 100 universities by the Shanghai Jiao Tong (SJTU) and the Times Higher Education-QS World University Rankings.
More than 90 per cent of research at The University of Nottingham is of international quality, according to RAE 2008, with almost 60 per cent of all research defined as ‘world-leading’ or ‘internationally excellent’. Research Fortnight analysis of RAE 2008 ranks the University 7th in the UK by research power. In 27 subject areas, the University features in the UK Top Ten, with 14 of those in the Top Five.
The University provides innovative and top quality teaching, undertakes world-changing research, and attracts talented staff and students from 150 nations. Described by The Times as Britain's “only truly global university”, it has invested continuously in award-winning campuses in the United Kingdom, China and Malaysia. Twice since 2003 its research and teaching academics have won Nobel Prizes. The University has won the Queen's Award for Enterprise in both 2006 (International Trade) and 2007 (Innovation — School of Pharmacy), and was named ‘Entrepreneurial University of the Year’ at the Times Higher Education Awards 2008.
Nottingham was designated as a Science City in 2005 in recognition of its rich scientific heritage, industrial base and role as a leading research centre. Nottingham has since embarked on a wide range of business, property, knowledge transfer and educational initiatives (www.science-city.co.uk) in order to build on its growing reputation as an international centre of scientific excellence. The University of Nottingham is a partner in Nottingham: the Science City