[BECKENHAM, 23/11/2022] Knowledge of the principles and functions of blockchain is vital for the financial world, as it will form a critical part of the global economic infrastructure. Future accountants must understand the potential of blockchain and how to use it within their practice.

The Institute of Chartered Accountants in England and Wales (ICAEW) has recognized this need and is actively promoting the development of blockchain skills among its members. ICAEW has included blockchain in its Chartered Accountant Qualification and is actively sharing resources and running events to educate its members about the potential of blockchain for accountancy.

Many of today’s accounting processes can benefit from the advantages of blockchain technology. It can help to reduce manual processes, increase accuracy and transparency, and create a secure audit trail that is difficult to tamper with. In addition to the potential applications of blockchain in the financial sector, accountants can influence how the technology is adopted. They can advise businesses on using blockchain for transactions and maximize its potential when it comes to compliance and regulation.

Understanding blockchain technology and its applications should be part of any accountant’s skill set. By becoming well-versed in blockchain technology, future accountants are more prepared to handle the demands of an ever-evolving financial world.

Accountants who understand blockchain are also more likely to be sought after by employers and are in a better position to stay competitive. Finance and accountancy recruitment companies like Jennings Morton Friel (JMF) Associates have already recognized the need for blockchain-savvy accountants and are actively recruiting them. As a specialist agency, they are dedicated to bridging the skills gap in the industry and providing access to the best talent.

About Jennings Morton Friel Associates

JMF Associates is a finance and accountancy recruitment agency. Established in 2002, the company provides exceptional recruitment solutions and advice to leading businesses in various sectors.

They specialize in finding skilled accountants with top-level qualifications and experience. They also have a proven track record of recruiting professionals with the right qualifications, technical background, and knowledge to meet their clients’ requirements. This includes accountants proficient in blockchain technology and understanding its benefits for effective management and accounting.

Read more about their services at https://www.jmfassociates.co.uk/news/news/accountancy-finance-salary-guide-2022