Question 1 (50 marks)

Accounting processes are leveraging heavily on technology now. Identify and discuss TEN (10) challenges accountants are facing adapting to these changes.

Points

1. Cash flow
2. financial reporting
3. hiring and retaining tale
4. automation artificial intelligence
5. up skilling
6. Regulatory changes & New Accounting standard
7. Expenses management
8. payroll management
9. cybersecurity
10. remote work
11. low morale
12. accurate finance forecast
13. keeping up with new technology and tools
14. innovation
15. economic instability

Please provide each point with explanation and example.