Source: Accountancy Daily

Accountancy Daily reports that AI is expected to transform the accounting profession, not eliminate it. Rather than replacing accountants, AI technologies will automate routine tasks such as data entry, reconciliation, and fraud detection, allowing professionals to focus on advisory and strategic functions.

The report emphasizes the growing demand for digitally literate accountants and highlights the importance of integrating AI tools responsibly. Experts also underscore the legal and ethical obligations tied to using AI in financial decision-making, especially concerning data protection and transparency in audits.

The shift is framed not as a threat, but as an opportunity to upskill the workforce and improve service quality across the financial sector.