GCSE results day is a key moment in the calendar for students, parents and teachers as the culmination of years of hard work is revealed.
What’s more, after several years of grade inflation owing to disruption caused by the pandemic, this year should see results move back towards the pre-Covid levels of 2019.
Commenting on these results, CIMA secretary general, Andrew Harding, said: “Results day is a big milestone in the lives of many young people in England, Wales, and Northern Ireland. They are receiving their GCSE results. For many of them, this represents the first big step on the path to the world of work. But have they been equipped with the right skills to make a success of it?
“New technologies like artificial intelligence will mean the demand for a STEM (Science, Technology, Engineering, Maths) literate workforce will increase further in the future. Happily, government figures show an increase in the number of young people studying STEM subjects. It is clear that those young people are responding to the demands of the modern labour market, and giving themselves the best possible chance to succeed in the world of work.
“These changes are affecting our work as well. Accountancy is a now a digital profession. Many traditional tasks are being automated, opening up avenues for more purpose driven and value adding work for our profession. For example, management accounting, with its focus on business performance, data and value creation, is playing an expanded role beyond financial management to solve business and societal problems, such as optimising healthcare provision and assessing environmental impact and risks.
“Our profession is embracing and using technology every day. It is time to advocate for adding accounting to the list of STEM subjects taught in the UK. The All Party Parliamentary Group for Accounting recently issued a call for evidence to look into this issue. I look forward to reading the findings.”