Finance of the Future

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By August 14, 2018 at 5:31am

FINANCE OF THE FUTURE

THE RISE OF BLOCKCHAIN AND CRYPTOCURRENCY

HOW COMMON DO YOU THINK CRYPTOCURRENCY WILL BECOME FOR BUSINESS TRANSACTIONS IN THE NEXT FIVE YEARS?

11% Not common at all
13% Very common
39% Not very common
37% Somewhat common

BY COMPANY SIZE:

20-49 50-99 employees 100-249 employees 250-499 employees 500-999 employees 1,000+ employees
Very common 11% 14% 16% 25% 39% 11%
Somewhat common 35% 46% 43% 29% 30% 35%
Not very common 42% 33% 30% 35% 31% 42%
Not at all common 12% 7% 11% 11% 0% 13%

Responses may not total 100 per cent due to rounding.

HOW DO YOU THINK THE RISE OF CRYPTOCURRENCY AND BLOCKCHAIN TECHNOLOGY WILL AFFECT ACCOUNTING AND FINANCE DEPARTMENTS?

Staff will need to expand skill sets to adapt for new accounting and finance technologies 53%
There will be more cross-departmental collaboration with IT 31%
It will increase the need for specialized accounting (e.g., tax and forensic accounting) 30%
It won’t impact accounting and finance until it becomes government-regulated 28%
No impact at all 6%

Multiple responses permitted

Source: Robert Half Finance & Accounting survey of more than 270 Canadian finance leaders

© 2018 Robert Half Finance and Accounting.