AI and other technologies are changing how businesses operate. How is this reshaping the role of professional accountants and the skills they need to remain relevant?
| Melanie Proffitt, President of the Association of Chartered Certified Accountants (ACCA) Global |
AI is changing how accountancy work is carried out, from routine processes to the analysis of financial information. But while the tools available to accountants are changing, the profession’s responsibilities remain much the same. Trust, integrity, and ethical conduct are still central to the work accountants do.
This becomes particularly important as businesses rely more heavily on automated systems and AI-generated information. Accountants must ensure that financial information is reliable, that organisations remain accountable for their decisions, and that the public interest is protected.
There are efficiency gains to be made. AI can automate routine tasks and help accountants analyse information more effectively, giving them more scope to focus on interpretation and decision-making. But its outputs are not always accurate or impartial. The quality of the underlying data, the assumptions built into a system, and the way results are interpreted can all affect the conclusions drawn.
Accountants therefore need to understand what these tools can do, where their limitations lie, and when their outputs require further scrutiny. That calls for more than technical familiarity: they must be able to question the information presented to them and judge whether it provides a sound basis for a business decision.
Even as more processes become automated, businesses still need professionals who can apply experience, assess risks, and exercise sound judgement. The challenge for accountants is to make effective use of AI without losing sight of the professional standards and accountability on which the role depends.
ACCA will introduce a redesigned qualification next year. What are the main changes, and how do they reflect the changing needs of accounting and finance teams?
The redesigned ACCA Qualification reflects changing expectations. Employers need accountants who understand financial reporting and accounting principles, analyse data, and apply their knowledge to business decisions while maintaining professional standards.
Data analytics will receive greater emphasis, as finance teams are expected to derive insights from data rather than simply report figures. Students need to understand how analytical models work and how their findings inform decisions.
Sustainability is another key component. As sustainability reporting and performance measurement become more prominent, finance professionals must interpret non-financial information alongside conventional measures and communicate relevant findings to stakeholders.
The qualification is also becoming more flexible to accommodate varied career paths. Professionals may change functions, specialise in new areas, or take career breaks. The revised structure gives learners flexibility in progressing through the qualification and accreditation process.
Employability modules will help students connect technical knowledge with workplace practice. Accountants need to communicate findings clearly, understand commercial priorities, and collaborate with colleagues across an organisation. These capabilities are increasingly important when translating financial analysis into practical business decisions.
Ethics and integrity remain central to the qualification. Alongside technical expertise, accountants need sound professional judgement and ethical awareness to assess information critically, maintain its reliability, and support informed decisions.
How will the redesigned qualification prepare students to use these technologies while retaining professional judgement and accountability?
Data analytics features prominently in the redesigned qualification. Students will learn how analytical models work and how technology can be applied in professional settings. AI tools will also feature in employability modules, although they will not be used in examinations.
However, using these tools effectively requires a sound grounding in accounting principles. Technology can perform calculations and generate analysis, but accountants must understand the figures, assess their accuracy, and question results that appear inconsistent.
This is particularly important because AI can produce biased or inaccurate outputs. Students need to evaluate these results critically and recognise when further checks are necessary before using the information to inform decisions. Professional judgement remains the accountant’s responsibility, even when technology performs much of the underlying work.
These demands also affect practising accountants, who need to update their skills as technology changes their work. ACCA offers additional learning resources and certifications, including a certificate in digital finance and training in ethics in AI, to help accountants develop their knowledge in these areas.
The priority is to ensure accountants can use new technologies effectively while retaining the technical understanding needed to assess their outputs.
What distinguishes a global professional qualification, and how can ACCA help accountancy professionals prepare for the next stage of their careers?
ACCA operates in 179 countries and territories, with members working across domestic and international markets. Its global presence and local offices provide contacts for those navigating different regulatory environments.
An internationally recognised qualification can help when pursuing opportunities overseas, although career progression also depends on experience, specialist knowledge, and an understanding of local markets. As technology changes the work of finance teams, accountants may need to develop expertise beyond their original areas of specialisation.
Members have access to educational and research resources, continuing professional development, and additional certifications. The Career Navigator helps them explore career paths and identify potential skills gaps, while the careers job board lists vacancies across markets. The website also provides guidance for those considering relocating or working abroad.
Beyond professional roles, members can serve on local panels and committees, attend industry events, mentor aspiring accountants, and introduce the profession to students and wider communities. Those interested in contributing to the organisation’s governance can also consider standing for the ACCA Council.
These activities provide opportunities to exchange experience, maintain professional connections, and support people entering the profession. The options available range from further training and career guidance to participation in professional networks, depending on members’ interests and career plans.