The knowledge crisis in the digital information era
- Ken Asadon
- Mar 5
- 3 min read
Updated: Mar 12
A WELL-KNOWN saying describes the cyclical nature of generations: "Hard times create strong men. Strong men create good times. Good times create weak men. Weak men create hard times."
This philosophy is very relevant nowadays. Previous generations of accountants have sharpened their expertise through massive manual work, mastering financial reporting, taxation and auditing without the aid of advanced technology. Their deep understanding of accounting principles and problem-solving skills enabled them to thrive even in difficult economic conditions.
Why did I suddenly come up with this social topic? It is because of a recent segment of a noontime show called "It's Showtime" that went viral when a young adult, a 20-year-old contestant, revealed her unfamiliarity with the Commission on Elections (Comelec). When asked for a message to Comelec, she simply responded by saying, "Sorry po. Hindi po ako masyadong knowledgeable about sa Comelec (Sorry, I am not very knowledgeable about the Comelec)."
While the moment seemed lighthearted, it underscored a deeper concern: how, despite unprecedented access to information, ignorance persists among the youth.
The digital age was expected to guide in an era of enlightenment, with knowledge readily available at everyone's fingertips. However, the opposite appears to be happening: many young people disengage from critical information, whether about politics, economics or even their own professions. This irony extends beyond public awareness and is increasingly evident in fields like accounting.
As technology evolved, accounting software and automation streamlined many tasks. While these innovations boosted efficiency, they also reduced the necessity for accountants to develop a deep understanding of fundamental concepts. Many younger professionals now rely heavily on software without fully grasping the logic behind financial statements, tax computations or auditing procedures.
This shift raises concerns about the profession's future. If newer generations lack the foundational knowledge and critical thinking skills necessary for complex problem-solving, the industry risks a decline in expertise. When economic or regulatory challenges arise, these gaps may become extremely obvious, potentially leading to a crisis that forces a new wave of professionals to rebuild lost competencies.
The viral incident also tells us that there is really an educational crisis going on in our country, not just about being politically educated individuals — where access to information does not necessarily equate to knowledge acquisition. Many students and young professionals are passive consumers of content, scrolling through enormous amounts of information without critically engaging with it.
In accounting, this manifests in various ways: an overreliance on software like QuickBooks, Xero or SAP without understanding the principles behind financial entries; blind dependence on artificial intelligence-generated computations without verifying accuracy; and a lack of critical analysis in auditing, increasing the risk of errors and fraud.
This issue is compounded by modern educational systems that often prioritize mechanical memorization over analytical thinking. In the past, accountants had to manually reconcile books and calculate tax liabilities, developing a strong numerical intuition. Today, automation handles these tasks, leading many young professionals to enter the workforce without fully internalizing accounting principles.
If the accounting profession is to avoid the downward phase of the generational cycle, proactive measures must be taken. Universities and training institutions must emphasize critical thinking, problem-solving and a strong understanding of accounting principles rather than just software proficiency. While technology should be embraced, accountants must still develop the ability to work independently of automated systems.
Professional growth should not stop at obtaining a CPA license. Accountants must actively seek to expand their knowledge, keeping up with changes in tax laws, financial regulations and emerging business risks. Additionally, seasoned accountants should mentor younger professionals to bridge the knowledge gap and ensure that expertise is effectively passed down.
The viral noontime-show moment serves as a wake-up call — not just about political awareness, but about the broader issue of knowledge disengagement in the digital age. For the accounting profession, it is a reminder that easy access to information does not replace deep learning and analytical skills. If the current generation fails to recognize the importance of foundational knowledge, the industry may face a decline, repeating the generational cycle. However, by embracing both technological advancements and traditional expertise, accountants can ensure resilience and longevity in an ever-evolving financial landscape.
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Ken John B. Asadon is one of the partners of Paguio, Dumayas & Associates, CPAs (PrimeGlobal Philippines), an institutional member of the Association of CPAs in Public Practice. The opinion of the writer does not reflect in any way the opinion of these institutions.
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