FSG Conference 2022
‘The True Leaders of the Financial World: Who is in Control?’
“In today’s society, many different forces have gained control in the financial markets. Forces that have changed quickly over the last few years and created new roles within the financial world. In four subthemes we will highlight the most important forces in the market and the power they still have or gained recently.
One of the youngest, but not less powerful force is Social Media. We will discuss the influence of this force on the stock market and describe the advantages and disadvantages of it. Secondly a more traditional topic will covered; the control of Financial Institutions. We will highlight the current position of traditional banks and discover their role in the future, compared to new online banking services in the market. Afterward the role of the accountant will described. How big is the impact of tools as AI on the role of accountants and why do we still need human accountants in the future? We will close of with the most powerful institutions in our economy. In the Power of Policies we will describe how financial markets are regulated by central banks and if these measures are still as powerful as they were years ago.”
Social stock: How social media affects financial marketsAn upcoming force in the financial market is social media. It affects the stock market by influencing inexperienced ‘traders’ to interfere in a certain stock, which may have a huge effect on all stakeholders in the market. Although, this effect is not always negative. Smart investors react to this new force and create strategies to profit from it. These trends will be discussed in the theme “Social stock, how social media affects financial markets”.
Rediscovering the position of banks.The second theme will be about the changing position of the traditional banks. The banking world has gone through a large transition in the last few years, that has not ended yet. The traditional banking system has become outdated and not prepared for the future expectations of clients. New online platforms filled in this gap and gathered a large role in the financial world. But does this mean that there is not a role for the traditional banks in the future or are they able to defend their position in the market? And what do these banks have to fulfill to do this? This we will discuss within the theme “Rediscovering the position of banks”.
The value of the accountantThe third topic to be discussed is the role of the accountant in today’s Financial World. The role of the accountant is often a point of discussion within the financial world. New technologies like AI seem very powerful and the need of accountants in the future is therefore questioned in the media. Instead, in this theme we want to show that new technologies have just changed some of the activities of the accountant, but did not take over their role. The value of the accountant will be supported and the question marks on this occupation will be disproved.
The power of policies; how institutions interfere with the marketAt last, we will address the power of policies. The role of the politicians and central banks is to regulate financial markets. There are multiple measures to ensure a stable economic future, but in certain situations using the right measure may lead to enormous dilemmas. How institutions handle these kinds of situations, who are involved and who make sure that the economic damage is as low as possible will be discussed in the theme “The power of policies”.