SOLVING REAL-WORLD PROBLEMS IN ACCOUNTING INDUSTRY USING CDIO FRAMEWORK

This paper shares the work done by final year students from the Diploma in Accountancy (SP Accountancy) at Singapore Polytechnic (SP) in solving real-world problems using the CDIO Framework. Guided by relevant sections of the CDIO Syllabus and Standards, it explains how robotic process automation (RPA) is used to conceive, design, implement and operate to produce a suite of digital solutions covering accounting, auditing, tax and corporate secretarial needs of Accounting Entities (AEs) in Singapore. The prototype solutions proved useful to the accounting industry, resulting in the Institute of Singapore Chartered Accountants (ISCA) signing a Memorandum of Understanding (MOU) with SP to further help its members adopt digital solutions. Another MOU was signed with the Singapore Accountancy Commission (SAC) to fund SP’s RPA projects for the industry. The paper explains the challenges faced by the accounting industry to adopt digital solutions. It also explains the challenges faced by SP Accountancy in securing meaningful final year projects (FYPs) which become the motivation for change. The paper then explains how the CDIO Syllabus was use to pilot a new approach to executing FYPs. The paper describes in detail work done during the four stages of conceiving, designing, implementing and operating the suite of digital solutions. The paper shares the finding of students’ learning experiences under the new approach, and examines whether it can better prepare them with the necessary skills for the industry. Feedback from industry partners, which has largely been positive, are also shared. This paper concludes with the author’s reflection to investigate how the CDIO Framework can be used to improve the teaching in SP Accountancy at the course-level; and plans to move ahead with this new way of executing FYPs by expanding into other areas in the sector.