ACCA is set to research how technologies such as cloud computing, social media and cyber security are affecting accountancy.
The research, in partnership with the Institute of Management Accountants (IMA) intends to help accountants “take advantage of the new opportunities and respond to threats effectively".
The first three projects will focus on technologies and data use, looking at social, mobile and cloud computing, cyber security, and the flow of data and its management through a business.
Ewan Willars, director policy at ACCA said the future is “full of big opportunities - and some major threats - for the finance profession” and that the research will help improve the value of the accountancy profession.