RSM Cyprus was once again one of the official supporters of the 9th Cyprus Professional Services Conference held on May 21, 2024, in Nicosia.
The conference gathered professionals of the sector, allowing them to listen to distinguished professionals’ views on important issues concerning the industry’s future.
Mr. George Themistocleous, Managing Partner, CEO of RSM Cyprus, participated in a discussion panel where CEOs of renowned companies discussed important issues related to the industry’s future and how our country can gain the trust of foreign markets. Also, they referred to compliance issues with the current legislative framework, the role of technology, and how artificial intelligence is transforming the sector while mentioning some practices for enhancing the acquisition and retention of talent in the industry.
In response to a question on the profession’s future, Mr. Themistocleous underlined, “The reference point is what customers ask from us today and generally what the market demands”. He continued, saying, “Clients today are looking for trusted advisors, with experience and specialised knowledge, who can support them in local and global markets.”
When asked about the country’s reputation and the profession’s role in enhancing its credibility and trust in foreign markets, he said with optimism, “In recent years, we have upgraded the legislative system, and we all together follow the same path consistently, and the results of this effort are already visible.”
On the crucial question of how artificial intelligence is transforming the sector, he pointed out that “Artificial intelligence (AI) and technology are not a threat but another colleague of ours. That is why we need to understand their use, accept their existence and use the results and analyses they provide to our advantage. By using them, we are able to focus on strategic advisory for our clients and in other complex areas of our profession where human intervention is mandatory and cannot be replaced by technology.”
Moreover, referring to attracting new talent to the profession, he pointed out that “Nowadays, accountants are no longer considered as “boring”. On the contrary, we are called upon to manage a multitude of issues arising from various situations and concerns. We must convey this message to the younger generation through various actions, starting from schools and universities, organising company open days, etc., and communicating what we actually do. By knowing all the facts, they will be able to make informed decisions.”
Through various actions and practices, RSM Cyprus continues to promote innovation and specialisation in its people, ensuring the provision of high-quality services to its clients.
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