Page 5 - CMA Journal (Nov-Dec 2024)

From the Desk of
Chief Editor

Dear Readers,
It is with great pleasure that I present to you the latest issue of the CMA Journal, centered
on the timely and critical theme of "Digital Transformation in Accounting Practices."
I would like to begin by expressing my deepest gratitude to Hon’ble Ms. Shaza Fatima
Khawaja, Federal Minister of Information Technology and Telecommunication, for
graciously sparing her valuable time to share her insights in an exclusive interview. My
sincere thanks also go to Mr. Lee White, CEO of the International Federation of Accountants
(IFAC); Dr. Babar Majid Bhatti, CEO of the National Information Technology Board (NITB); Mr.
Salim Ghauri, Founder & CEO of NETSOL Technologies Ltd.; and Mr. Saquib Ahmad,
Country Managing Director of SAP for Pakistan, Afghanistan, Bahrain, and Iraq, for
contributing their expertise through insightful interviews in this edition.
The Focus Section of this issue features 16 thought-provoking articles, including one from Editor
the Research and Publications (R&P) Department. It is particularly encouraging to note that
12 of these articles have been contributed by ICMA members, reflecting their keen interest
and recognition of the critical role digital transformation plays in the finance profession.
To assist our members in exploring this theme, we had proposed a diverse range of
sub-themes. The response has been remarkable, with articles covering a wide array of
topics, such as how ERP systems are driving digital transformation in the public sector, the
rise of virtual CFO services, e-invoicing, and digital payments, the role of AI in financial data
protection and fraud detection, the digital skills essential for modern accountants, and the
use of digital tools for sustainable reporting, among others. The R&P article in this section
offers a comparative analysis of digital transformation in public financial management,
drawing insights from both SAARC and developed economies.
In the Articles Section, we are pleased to feature two compelling pieces: one by Mr.
Sohailuddin Alavi on The Science of Managing Change, and another by Mr. Faisal Sharif on
Vitals in a Business Turnaround and Transformation.
The Research & Publications (R&P) Department has made other significant contributions to
this issue. These include a summary of policy recommendations submitted by the R&P
Committee to the Federal Board of Revenue (FBR) on strengthening Pakistan’s tax system,
featured in the Economy Watch section. Additionally, the department has provided a
sector brief on Pakistan’s IT software industry and an update on Quantum-Inspired From the Desk of
Computing (QIC) in the Top Technology Trends segment. Chief
Looking ahead, our next issue (March-April 2025) will focus on the critical theme of
"Islamization of Pakistan’s Economy." We have already circulated a range of sub-themes to
guide contributions, and I would like to take this opportunity to invite Islamic scholars,
members of Shariah boards in banks, CMAs working in the banking sector, and other
experts to share their research-based insights for this edition.

Muhammad Yasin, FCMA
Vice President ICMA &
Chairman, Research and Publica ons Commi ee
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