The explosion of technology, along with the strong globalization process, is having a significant impact on the accounting field, creating 3 new development trends, specifically:
1. Smart software systems (including cloud computing) will support the trend of outsourcing services and greater use of social media through smart technology, to improve the way work, disclose information, and commit to stakeholders and the community.
2. Opportunities and challenges for the accounting field. While globalization encourages the free movement of money in capital markets, increased use of foreign outsourcing services and the transfer of vocational skills; At the same time, it continues to raise local issues that need to be resolved (with differences in culture, finance, and taxes). This creates a change in human resources in the Accounting industry.
3. The new regulations, along with related information disclosure rules, will have the greatest impact on the industry in the coming years. Accordingly, professional accountants will be affected by intergovernmental tax regulations to limit profit shifting campaigns to avoid taxes.
The following issues are raised with the accounting industry in Vietnam:
1.Train a team of high-quality accountants (improve professional capacity, computer skills and foreign language skills must be enough to meet job requirements, supplement soft skills
2. Training institutions need to have changes in training perspectives, training comes from the demands of reality and the requirements of the digital technology age.
3. The State needs to soon focus, review and complete legal documents in the field of accounting. It is necessary to promulgate VAS/VFRS Standards in the direction of updating and quickly approaching international standards; At the same time, apply IFRS at 3 levels: Public interest companies implement prototype IFRS; Other companies apply VAS/VFRS; Small and medium-sized enterprises implement the accounting regime for small and medium-sized enterprises.
4.At the same time, the State should invest and develop information technology infrastructure in a synchronous and timely manner, meeting the development trend of digital technology; In particular, focusing on building a network security system, highly secure accounting and auditing data information.
5. Have preferential policies to support businesses in training accounting human resources, as well as orient and encourage labor movement within the ASEAN Economic Community.

According to the article by MSc. Nguyen Thi Van Chi published in the Finance Magazine Term 1 - June 2020.