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59% of accountants use AI to save about 30 hours a week on tasks

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A comfortable majority of accountants in the U.S. and U.K. say they use AI at work and, through the technology, have saved hours of labor per week. Accountants in particular were found to be higher than average in terms of both AI adoption and hours saved.

These were among the findings of a recent poll from business solutions provider Intapp, which also included those in the finance, legal and consulting professions. The poll did find, though, that accountants are taking to AI with more enthusiasm than other sectors. While an average of 48% of respondents across professions said they use AI at work, accountants were well above average at 59%; only those in the finance trade had a higher proportion, at 64%.

The main things professionals want to use AI for include data entry (79%), data summarization (76%), document generation (73%), recommendations (70%) and voice queries (68%). However, when it comes to the specific things an accountant does, the poll found they believe AI can automate about 45% of their manual tasks. And through automation, according to the data, accountants have already saved more time per week than other professions: 31 hours, well over the 25 hours that represents the average of all professionals. Specifically, accountants said automating data entry saved them six hours a week, using voice queries saved them five hours, automating data summarization gave them seven hours, automating document generation provided seven more hours, and generating recommendations saved them five hours. The poll noted that professionals of all stripes believe that automation will provide positive dividends.

“Consequently, more than half of respondents believe that AI will help them achieve better work-life balance,” said the survey. “And 61% of respondents believe AI tools will give them time back to focus on delivering higher-level work for their clients.”

The survey also found that, on average, professionals including accountants have to log in to four systems per day.

“Even if a professional knows exactly where everything is stored, it’s still burdensome to work across disjointed systems. On average, staff log onto more than four internal or external applications, systems and platforms each day to access information and do their work. They must also navigate through any associated security protocols for each of those applications. This practice is time-consuming and disruptive,” said the study, which noted that only finance professionals had more daily logins at five.

The Intapp survey stands in contrast with data from a survey recently published by Accounting Today. It found that while accountants were intrigued by the possibilities of AI, there were few tasks that respondents thought they could trust AI with: just researching and fact checking (55%), assisting staff with routine inquiries (55%) and information reports for internal use (51%). Fewer than half trusted it with any other task, from creating promotional and marketing materials (48%) to employee training and onboarding (35%) to regulatory reporting and/or SEC filings (13%) to making layoff decisions (2%). The Accounting Today survey found 12% don’t trust AI to be mostly-to-wholly responsible for anything at all.

We also found that accountants are more concerned about the pace of AI advancement than other professions. Our data shows 70% of accountants said AI was evolving too quickly, versus 60% of wealth managers, 57% of bankers, 53% of fintech workers and 52% of insurance professionals.

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Accounting

Acting IRS commissioner reportedly replaced

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Gary Shapley, who was named only days ago as the acting commissioner of the Internal Revenue Service, is reportedly being replaced by Deputy Treasury Secretary Michael Faulkender amid a power struggle between Treasury Secretary Scott Bessent and Elon Musk.

The New York Times reported that Bessent was outraged that Shapley was named to head the IRS without his knowledge or approval and complained to President Trump about it. Shapley was installed as acting commissioner on Tuesday, only to be ousted on Friday. He first gained prominence as an IRS Criminal Investigation special agent and whistleblower who testified in 2023 before the House Oversight Committee that then-President Joe Biden’s son Hunter received preferential treatment during a tax-evasion investigation, and he and another special agent had been removed from the investigation after complaining to their supervisors in 2022. He was promoted last month to senior advisor to Bessent and made deputy chief of IRS Criminal Investigation. Shapley is expected to remain now as a senior official at IRS Criminal Investigation, according to the Wall Street Journal. The IRS and the Treasury Department press offices did not immediately respond to requests for comment.

Faulkender was confirmed last month as deputy secretary at the Treasury Department and formerly worked during the first Trump administration at the Treasury on the Paycheck Protection Program before leaving to teach finance at the University of Maryland.

Faulkender will be the fifth head of the IRS this year. Former IRS commissioner Danny Werfel departed in January, on Inauguration Day, after Trump announced in December he planned to name former Congressman Billy Long, R-Missouri, as the next IRS commissioner, even though Werfel’s term wasn’t scheduled to end until November 2027. The Senate has not yet scheduled a confirmation hearing for Long, amid questions from Senate Democrats about his work promoting the Employee Retention Credit and so-called “tribal tax credits.” The job of acting commissioner has since been filled by Douglas O’Donnell, who was deputy commissioner under Werfel. However, O’Donnell abruptly retired as the IRS came under pressure to lay off thousands of employees and share access to confidential taxpayer data. He was replaced by IRS chief operating officer Melanie Krause, who resigned last week after coming under similar pressure to provide taxpayer data to immigration authorities and employees of the Musk-led U.S. DOGE Service. 

Krause had planned to depart later this month under the deferred resignation program at the IRS, under which approximately 22,000 IRS employees have accepted the voluntary buyout offers. But Musk reportedly pushed to have Shapley installed on Tuesday, according to the Times, and he remained working in the commissioner’s office as recently as Friday morning. Meanwhile, plans are underway for further reductions in the IRS workforce of up to 40%, according to the Federal News Network, taking the IRS from approximately 102,000 employees at the beginning of the year to around 60,000 to 70,000 employees.

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Accounting

On the move: EY names San Antonio office MP

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Carr, Riggs & Ingram appoints CFO and chief legal officer; TSCPA hosts accounting bootcamp; and more news from across the profession.

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Accounting

Tech news: Certinia announces spring release

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Certinia announces spring release; Intuit acquires tech and experts from fintech Deserve; Paystand launches feature to navigate tariffs; and other accounting tech news and updates.

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