International Scientific Journals
of Scientific Technical Union of Mechanical Engineering "Industry 4.0"

A recent challenge towards accounting education that is expected to amplify its transformation in a span of a decade is the sustainability reporting which has already started to reshape the corporate reporting landscape. As a result of its standardisation, a recently emerged trend that currently dominates the development of the sustainability reporting, the companies are forced to enhance disclosures about their environmental and social impact. This will increase the requirements of employers in regards of the core skills and competences of the future accountants. In light of this new trend that continues to reshape the future of the accounting education along with the Fourth industrial revolution, this paper aims at analysing the impact of sustainability reporting and approaches for implementing it into the accounting curriculum.

It is considered that artificial intelligence (AI) adoption will considerably amplify in the next decade and impact our lives in all three dimensions – environmental, social and governance. Therefore, deriving sustainable long-term value from AI mass implementation requires organisations to follow an ethical and responsible path. It is considered that accounting professionals will play a significant role in managing this process due to their commitment to ethics and ethical behaviour when performing the assigned tasks within the accounting and finance function. For instance, they might play an important part in complying with regulation and ethics policies, data management, including its quality and confidentiality, as data feeds AI, building understanding of how AI is used in the industry. Moreover, accountants could actively participate in cross-functional teams and efficiently communicate issues related to AI ethics and sustainability. In the light of the challenges from the mass adoption of AI, this paper aims at outlining the perspectives and opportunities towards the accountancy profession in the ethical and sustainable AI implementation in organisations

The pandemic outbreak has significantly impacted many businesses and their ability to continue operating as a going concern. Going concern is a basic accounting principle as well as one of the fundamental assumptions under the International Financial Reporting Standards. The management is responsible to determine whether the going concern assumption is relevant in the preparation of company’s financial statements. With the progress of the novel coronavirus the focus on whether an entity is a going concern should be heightened. Taking into consideration the continuing uncertainty in the Covid-19 environment, the aim of the paper is to discuss the challenges through the lens of the company’s management in the assessment of the going concern assumption. Few questions that should be considered when performing the analyses as well as some of the factors that contribute to a robust assessment are outlined. A special attention is given to disclosure requirements and their improvement in the Covid-19 context.