Accountants want more AI, but big skills gap is hampering adoption: CAW

Chartered Accountants have expressed an overwhelming desire to leverage artificial intelligence (AI) technologies, given the opportunity, a new report by industry association Chartered Accountants Worldwide (CAW) has found, though a significant skills gap is hampering adoption and leaving many unprepared for technology’s potentially transformative impact on the sector.

Younger professionals have eagerly embraced the technology, with the global industry survey of more than 2,800 Chartered Accountants, jointly conducted by CAW and Ipsos, finding extensive use of AI tools by up-and-coming CAs.

Indeed, more than four out of five (83%) certified accountants aged between 18 and 24 said they use AI tools at least once a week.

Among the most popular use cases for the technology was for general productivity (40%), data entry (24%), client services (17%), and risk management (12%), with publicly available generative AI services like ChatGPT and Gemini reported to be used at least once or twice a month.

Currently, respondents are predominantly using generic AI tools for general productivity purposes (most often through professional accountants in business, or PAIB, platforms), rather than for technical work, to improve daily workflow and complete simple tasks.

For at least one in five (22%) of respondents making frequent use of AI, these automated support systems have already become a core part of their roles.

Younger CAs are “already leading the way in adoption”, the report found, with 91% of this demographic stating they were very (59%) or at least fairly willing (32%) to use AI for their work.

More senior CAs – often unfairly maligned as less tech-forward than younger cohorts – were also not averse to the technology, with 79% expressing their willingness to leverage AI; only eight per cent said they were reluctant.

While concerns over the disruptive impact of the technology were not entirely dismissed, AI was seen more as an opportunity than a threat, with survey respondents valuing its ability to augment their capabilities rather than take away their jobs. Indeed, just over half (52%) of those surveyed felt that the value that accountants provide could not be replaced by automated systems, compared to just over a quarter (27%) who felt otherwise.

What is more, more than half of the surveyed CAs (56%) felt that incorporating AI into accountancy practice would make the profession more attractive as a career choice, with only 16% disagreeing.

A significant majority agreed that, within five years, by leveraging AI automation, accountants will be able to ease some of the burden of data handling and processing, enabling them to focus more on strategic advice.

“AI automation is expected to enhance strategic advisory by improving accountants’ ability to interpret data and provide actionable, tailored recommendations for specific business needs,” the report read.

What’s hindering AI’s successful adoption?

While survey respondents expressed an overwhelming desire to embrace AI tools, wholesale adoption of the technology is being challenged by two prevailing issues: a lack of sufficient skills and training, and concerns over data security.

On the former, the survey identified a perceived lack of skills (stated by 52% of respondents), which the CAW noted “reinforces the picture [that AI] usage is personally driven rather than organisationally driven”. Indeed, only 30% reported participating in AI-related training programs (with 66% stating their organisation does not offer such opportunities).

When participants did participate in training, at least four out of five (80%) felt it was effective. More than 90% said they were likely to participate in such programs if they were offered.

The CAW thus noted a “clear gap between low availability of organisational-led AI training, and high employee willingness to participate, highlighting a need for improved training programs”.

Yet decision-makers overwhelmingly felt their organisations should not be doing the heavy lifting, with 67% expecting professional bodies to provide AI training; what is more, more than half of respondents felt that AI topics and skills should be integrated into existing continuing professional development requirements.

As well, a leadership gap may slow AI adoption in the profession, as senior professionals remain cautious. More than half (53%) of C-suite executives surveyed stated they feel unprepared for the impact AI will have on their job role over the next five years.

Nearly one in three respondents (30%) also expressed concerns over data security and cyber-attacks, rating it as one of their major reasons for not using AI more frequently, with accountants – perhaps unhelpfully – currently “relying on established tools, strict procedure or avoidance to address security concerns”.

Data security remains, unsurprisingly, of heightened concern at the more senior levels, with more than one-third (36%) of C-suite respondents stating that data security concerns were the main reason for not using AI on a more frequent basis.

Moreover, 34% of C-suite respondents stated that reassurance about data security would boost their confidence in using more AI versus 24% of junior roles.

With the increasing expectation of accountants to interpret data and leverage insights, in addition to managing increasingly complex data governance and security requirements, survey respondents overwhelmingly (79%) agreed with the statement that “the role of accountants as ‘Data Guardians’ will become increasingly important to organisations” as AI is progressively integrated more into business.

Commenting on the results of the survey, CAW chair and CEO of Chartered Accountants Australia and New Zealand Ainslie van Onselen stressed the need for senior leaders to “take the lead in equipping professionals with the skills and confidence to harness AI’s full potential”.

“AI is not just a technological shift – it’s a transformative opportunity for Chartered Accountants to move up the value chain, positioning themselves as data guardians and trusted advisors in an AI-driven world.”

“AI is a tool for innovation, not a replacement for human expertise, and critical thinking will be essential in scrutinising and applying AI-generated insights to provide effective business advice.”

He added that “structured and ethical training is crucial to ensure AI is used responsibly. While hands-on technical work remains vital in training, there is a growing call from students for educational institutions to integrate more AI and digital skills into future learning. The time to act is now.”

The pathway to successful AI adoption

The CAW laid out four key priorities to ensure the successful deployment and use of AI within the CA profession, urging senior leaders to:

• Lead by example — Adopt AI in their own workflows and champion its benefits within their organisations.
• Invest in AI training — Ensure that Chartered Accountants at all levels receive practical, hands-on AI education.
• Shape AI ethics and governance — Develop robust frameworks to ensure secure and ethical AI use.
• Encourage an AI-ready culture — Foster an environment where AI is seen as a strategic asset, not a disruption.