The review of related literature and studies state that the rapid change in the

global marketplace demands increased standards, thus, the accounting profession is

substantially affected. This technological breakthrough presents both opportunities
and threats to employment in several industries including accounting. Expectation
gap exists between what graduates offer and what the employers are looking for. As
forward-looking firm leaders are examining the effects of advances in data
analytics, artificial intelligence (AI), and blockchain technology, firms may need
to recruit people with new skills and place increasing emphasis on providing
advisory services and strategic thinking. As a result, recruitment and retention of
accounting professionals have become a more challenging job as the significant
skills have become hard to find.

Although technology plays an integral part in the new millennium, a wide range of
skills is still needed in the workforce. This include accountants who has
multilingual skills, information technology skills, management accounting skills,
good communication and presentation skills, the ability to build relationships with
different people, and can make sound decision and manage multiple deadlines.
Moreover, employers also expect non-technical skills such as oral communication
skills, ethical awareness and professional skills, teamwork, written communication
and an understanding of the interdisciplinary nature of business.

In line with this, the The International Federation of Accountants echoes this
demand by developing International Education Standard 3 (IES3): �Individuals
seeking to become professional accountants should acquire the following skills: (a)
intellectual skills, (b) technical and functional skills, (c) personal skills, (d)
interpersonal and communication skills, and (e) organizational and business
management skills� (International Accounting Education Standards Board, 2010, IES3
Professional Skills and General Education, para. 13). Effective July 1, 2015, the
revised IES3 iclude the following list of professional skills: (a) intellectual
skills. (b) interpersonal and communication skills, (c) personal skills, and (d)
organizational skills.

Various researches have contributed to the pool of knowledge regarding skills

required from Accountancy students. Of those, most have focused on the general
skills that an Accountancy graduate must possess for employability. However, this
study specifically aims to identify the IES3 professional skills (intellectual
skills, interpersonal and communication skills, personal skills, and organizational
skills) required from BS Accountancy Graduates in the four accounting sectors
(public, private, academe, government) in Antipolo City as a factor for
employability.