Driving ASEAN’s growth with digitally and sustainably skilled accountants

Along with the emergence of ASEAN as a global growth engine, the accountancy profession has expanded its role and has evolved to lead.

Deemed as one of the world’s fastest-growing economic zones, ASEAN is undergoing a transformation driven by digitalisation. Along with this evolution is the scaling up of the accountancy profession—making a huge shift from record-keepers to enablers of growth, risk managers, and trusted sustainability advisors.

In a Singapore Business Review interview, Aucky Pratama, Asia Pacific Regional Lead Public Affairs of ACCA, discussed the transformation of accountancy across the region and the factors driving this.

The digital shift

Digital transformation, which includes automation, artificial intelligence (AI), and data analytics, is reshaping the role of accountants across ASEAN, particularly in terms of auditing, compliance, and advisory.

Hence, to stay relevant in this fast-changing landscape, it is necessary for accountants to develop core digital competencies.

“Today’s professionals must be fluent not only in numbers, but in digital tools that enable insight generation, risk anticipation, and agile decision-making,” Pratama said.

“Core competencies have evolved to include data interpretation, digital ethics, and systems thinking, and professionals must be adept at working with technology whilst upholding the principles of transparency and accountability,” he added.

ACCA’s qualifications and learning pathways are built around these demands. The accountancy body ensures accountants gain the digital literacy and ethical grounding needed to lead in a data-driven world.

Enhancing regional mobility through the ASEAN MRA

The ASEAN Mutual Recognition Arrangement (MRA) on Accountancy Services allows qualified accountants to be recognised across member states through cross-border mobility and harmonised standards.

It is a pivotal step in regional economic integration. Notably, for hubs like Singapore, it opens doors to collaborate with emerging markets and builds a connected and competitive professional ecosystem.

But despite this momentum, ASEAN faces talent shortages, with the most pressing gaps lying in digital capability and sustainability literacy. Whilst the accountancy profession is evolving.

Businesses find it challenging to find candidates with the skills to excel in today’s demanding business environment, which faces stricter reporting requirements and higher expectations to pursue sustainability goals. Beyond that, the necessary skill set differs from country to country, with some demanding financial management and analysis and others requiring knowledge of supply chain finance and international trade compliance.

To bridge this, ACCA initiated partnerships with universities, governments, and industry to support co-designed curricula with local relevance, flexible and modular learning, as well as scholarships and inclusive access to qualifications. Amongst these initiatives include a new BSc (Hon) accountancy programme with the University of London and the redesign of ACCA qualifications. These initiatives are about making the profession accessible to all, regardless of background or geography.

Accountants as sustainability advisors, supporters of economic growth and resilience

From ESG disclosures to climate risk analysis, accountants are moving from reporting on sustainability to actively advising on it. Being positioned to connect financial and non-financial information, they have the ability to ensure integrity, comparability, and decision-useful data, which makes them essential to credible sustainability reporting.

The pivotal role of accountants in ASEAN was brought into sharp focus at the recent ASEAN Conference 2025, marked by the launch of a landmark regional policy statement by the ASEAN Business Advisory Council (ASEAN-BAC) Malaysia, ACCA and their partners in the ASEAN Sustainability Reporting Advocacy Collaborative (ASRAC). This statement offers key recommendations to align ASEAN’s sustainability reporting with international standards while remaining responsive to local business and regulatory needs. 

The initiative signals a unified shift in the role of professionals across the region from traditional financial functions to strategic enablers of sustainable growth. Accountants are now instrumental in supporting micro, small, and medium enterprises (MSMEs), the major contributors to the region’s economy. They empower MSMEs’ to thrive in increasingly complex markets by enhancing financial literacy and improving their access to finance. Moreover, through robust governance and transparent reporting, accountants build investor confidence and foster trust in capital markets, which are crucial for attracting foreign direct investment (FDI) and driving long-term regional development.

Singapore as a catalyst

As ASEAN’s financial and innovation hub, ACCA Singapore plays a strategic role in advancing the regional profession through CPD programmes, public interest advocacy, and key research. With its advanced regulatory environment, strong digital infrastructure, and global connectivity, Singapore serves as a testbed for innovation in areas such as ESG reporting, sustainability assurance, and tech-driven finance.

Its accountancy ecosystem, anchored by global firms, multinationals, and agile SMEs, also offers a practical model for integrating digital tools and ethical standards, which can be adapted across the region.

“We work with policymakers, employers, and academia to advocate for digital adoption, ESG readiness, and professional excellence. Strategic initiatives include ASEAN-wide CPD programmes, public interest advocacy, and the publication of regionally significant insights,” Pratama said.

Additionally, ACCA uses an inclusive approach.

“Recognising the contributions of markets like Malaysia, Indonesia, Vietnam, and Cambodia, our approach is collaborative and region-wide, ensuring no economy is left behind,” Pratama added.

Accountants unlock digital potential, guide sustainable business, and empower SMEs; and ACCA remains committed to equipping the profession with the skills, ethics, as well as the agility to lead ASEAN into the next phase of growth.

As the region evolves, so too will its accountants.

To further explore how ACCA shapes the future of the accountancy profession, visit www.accaglobal.com.