In partnership with the Audit and Assurance Faculty of ICAEW, we launched the AuditFutures Programme, designed to inspire innovation within the audit profession.
The aim of AuditFutures is to construct a holistic view and a systemic approach to rethinking the profession. We are currently working on a number of interlocking levels to encompass the whole system – through action research, thought-leadership, and practical engagement on the ground.
In order to continue to be relevant, the profession has to take responsibility in determining its fate and to proactively engage with the public that we aspire to serve. In partnership with the RSA, the UK’s leading multi-disciplinary think-tank for social progress, we are developing a thought-leadership project on the future of audit. This ambitious engagement with the wider society aims to redefine the role of the profession within the modern context of the public interest and to formulate a vision for the highest aspirations of audit in the 21st century.
To attract a diverse group of individuals and inspire the next generation of professionals, we need to capture the imagination of students by actively engaging them in debates about their profession. We are hosting annual workshops that build bridges between academia and practice, and encourage a more positive and constructive discourse about audit. Our workshops bring together students, academics and professionals for interactive and in-depth discussions that tackle topical issues and core philosophical questions important for the evolution of audit.
To innovate and transform the profession for the 21st century, we need design-thinking that embodies empathy, bold experiments and collaboration. In partnership with the Royal College of the Arts, we are undertaking a co-creation process that uses new ways of seeing, new ways of thinking, and new ways of asking questions to unlock opportunities for the profession to gain public confidence and deliver trust in society. We aim to build designer-led teams, which include professionals and students, to develop radical and innovative solutions.
To capture the enthusiasm of trainee chartered accountants, we are developing programmes that will engage peers in discussing the role of auditing and accountancy within society. In partnership with accounting firms, we will pilot workshops for junior professionals to discuss topical issues and to inspire them to take an active role in driving the profession forward. The sessions will be complemented by annual assemblies at ICAEW and workshops at individual firms.