Accounting
Using AI will solve old drudgery, introduce new drudgery for accountants
We’ve all heard the claims by now that artificial intelligence is going to completely revolutionize the accounting profession. Already it is automating away those routine, manual processes that no one liked doing in the first place, and as it grows more sophisticated, the complexity of tasks the technology will be able to manage will only grow. With bots handling all the drudgery, the human accountants will be free to do only the things that interest and engage them.
The problem is that we’ve seen this before. Accounting is no stranger to technological advancements, and while new technologies have indeed transformed the profession many times over generations, unpleasant drudge work has somehow remained a reality. Part of this is because, historically, technological solutions have tended to solve some problems while, at the same time, creating others which are themselves eventually solved by new technologies that, themselves, create new problems of their own, which must then be solved by the next generation of technology, and so on.
For generations, accountants hand-filled their spreadsheets; go back far enough, and they used feather quills to do so. Then came the personal computer with the electronic spreadsheet, allowing them to quickly type that which they used to have to painstakingly write out, and what’s more it allowed them to modify these documents instantly — before then, they’d have needed to carefully apply whiteout or even start over entirely. The computer saved so much time and effort, transforming the profession and how it worked.
But over time, accountants realized, it created work too. While keying in rows of Excel data was certainly faster and easier than writing by hand, it was still a repetitive, mundane and overall boring task that mainly was done by lower-level associates. While the old drudgery was gone, the new drudgery was ascendant, and soon eventually accountants came to dread having to fill cells, inspect for errors, maintain macros, troubleshoot equations, and listen to their computers groan beneath the weight of far-too-large data sets. People thought, ‘Wouldn’t it be nice to automate all this?’
So they did. The profession saw a push for automation that could take over this new drudgery, whether in the form of dedicated solutions or robotic process automation. Powered by sophisticated computer algorithms that fed on big data, business and accounting automation was presented as the thing that would liberate accountants from the drudgery of manual processes that ate up so much of an accountant’s day. Now we see most of the simple, routine tasks — often compliance-based — that used to dominate accounting work now being handled by software, automating away the boring stuff so the humans could concentrate on the things that really matter, like client engagement.
Of course, over time, people have found that these automations can create their own sort of drudgery too. Yes, they can automatically process invoices or update the general ledger, but now they have to format the data fueling the automation, maintain the databases that hold this information, integrate disparate systems into a cohesive whole, make sure everything is patched and updated, and troubleshoot when (not if — when) things go wrong.
Enter generative AI. Rather than setting up complicated integrations between systems, cludging them together into a unified workflow, accountants can now tell generative AI to do it for them. While still in the early stages, the technology has advanced rapidly in a short time, and what began as something only for drafting marketing copy is becoming a powerful tool for automation that can be run not on arcane command codes but simple natural language. Instead of navigating through tabs and menus to, say, draft an engagement letter, accountants can tell a gen AI system to just draft the letter. AI can handle all these routine, mundane, boring, repetitive processes for us, while we focus on the value-added services that really matter, like consulting.
So is that it? Have we finally reached the apogee of accounting technology? Have we truly seen the end of boring, unfulfilling, unpleasant drudgery?
If previous paradigm shifts are any indication, the answer is no. New technology will probably continue solving some problems while creating others, and it is unlikely AI will be the exception. So while there is a whole universe of contemporary problems that AI is uniquely positioned to solve, users are also opening themselves up to new annoyances, frustrations and overall unpleasant tasks they’d prefer not to do. AI may take care of a lot, but it is unrealistic to think it would one day make the job free of toil and stress.
Moreover, one might argue that toil and stress are inherent to the very nature of jobs themselves, which essentially are things that people would not ordinarily be doing on their own — at least not in the way they’re expected to — without money.
If there was nothing stressful, nothing boring, nothing overall unpleasant or unfulfilling about a job, if it was as simple and enjoyable as watching TV or seeing friends, it likely would not be a job in the first place. In fact, if it became something actually fun, it would quickly be recategorized as leisure, and people would have to pay to do it, instead of getting paid to do it.
Accounting
Developing future leaders in accounting: the new imperative in an AI and automation driven era
As technology continues to automate routine tasks, the role of finance professionals is evolving, demanding deeper capabilities in critical thinking, communication and business acumen.
Many of PrimeGlobal’s North American firms are focused on cultivating these skills in their future leaders. Carla McCall, managing partner at AAFCPAs, Randy Nail, CEO of HoganTaylor, and Grassi managing partner Louis Grassi shared their views with PrimeGlobal CEO Steve Heathcote on the need for future leaders to balance technological proficiency with human-centered skills to thrive.
AI is transforming the sector by streamlining workflows, automating data analysis and reducing manual processes. However, rather than replacing accountants, AI is reshaping their roles, enabling them to focus on higher-value tasks. In the words of Louis Grassi, AI can be seen as a strategic partner, freeing accountants from routine tasks, enabling deeper engagement with clients, more thoughtful analysis, and ultimately better decision-making.
Nail emphasized the importance of embracing AI, warning that those who fail to adapt risk being replaced by professionals who leverage the technology more effectively. HoganTaylor’s “innovation sprint” generated over 100 ideas for AI integration, underscoring why a proactive approach to adopting new technologies is so necessary and valuable.
McCall advocates for an educational shift that equips professionals with the skills to interpret AI-generated insights. She stressed that accounting curricula of the future must evolve to incorporate advanced technology training, ensuring future accountants are well-versed in AI tools and data analytics. Moreover, simulation-based learning is becoming increasingly crucial as traditional methods of education become obsolete in the face of automation.
Talent development and leadership growth
As AI reshapes the profession, firms must rethink how they develop and nurture their future leaders. To attract and retain top talent, firms need to prioritize personalized development plans that align with individual career goals.
HoganTaylor’s approach to talent development integrates technical expertise with leadership and communication training. These initiatives ensure professionals are not only proficient in accounting principles but also equipped to lead teams and navigate complex client interactions.
Nail underscored the growing importance of writing and presentation skills, as AI will handle routine tasks, leaving professionals to focus on higher-level analytical and decision-making responsibilities.
Soft skills are the success skills
While technical proficiency remains vital, future leaders must also cultivate critical thinking, communication and adaptability — skills McCall refers to as the “success skills.” McCall highlights the necessity of business acumen and analytical communication, essential for interpreting data, advising clients and making strategic decisions.
Recognizing teamwork and collaboration remain crucial in the hybrid work environment, McCall explained in detail how AAFCPA fosters collaboration through structured remote engagement strategies such as “intentional office time,” alcove sessions and stand-up meetings. Similarly, HoganTaylor supports remote teams by offering training for career advisors to ensure effective mentorship and engagement in a dispersed workforce.
McCall emphasized why global experience can be valuable in leadership development. Exposure to diverse markets and accounting practices enhances professionals’ adaptability and broadens their perspectives, preparing them for leadership roles in an increasingly interconnected world.
Grassi reminded us that an often-overlooked leadership skill is curiosity. In his view the most effective leaders of tomorrow will be inherently curious — not just about emerging technologies but about clients, market shifts and global trends. Encouraging curiosity and continuous learning within our firms will distinguish the true industry leaders from those simply reacting to change.
A balanced future
What’s clear from speaking to our leaders is PrimeGlobal’s role in fostering trust, community and knowledge sharing. McCall recommended member-driven panels to discuss AI implementation and automation strategies and share best practice. Nail, on the other hand, valued PrimeGlobal’s focus on addressing critical industry issues and encouraged continuous evolution to meet professionals’ changing needs.
The future of leadership in the accountancy profession hinges on a balanced approach, leveraging AI to enhance efficiency while cultivating essential human skills that technology cannot replicate, which Grassi highlights skills including leadership and building client trust.
As McCall and Nail advocate, the next generation of accountants must be agile thinkers, skilled communicators and strategic decision-makers. Firms that invest in these competencies will not only stay competitive but will also shape the future of the industry by developing well-rounded leaders prepared for the challenges ahead.
By investing in both AI capabilities and essential human skills, firms can not only future proof their leadership but also shape a resilient and forward-thinking profession ready to meet the challenges of the future.
As Grassi concluded, while technical skills provide the foundation, leadership in accounting increasingly demands emotional intelligence, empathy and adaptability. AI will change how we perform our work, but human connection, trust and nuanced judgment are irreplaceable. Investing in these human-centric skills today is critical for firms aiming to build resilient leaders of tomorrow. To remain relevant and thrive, professionals must prioritize developing strong success skills that will define the leaders of tomorrow.
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Employment rose by a stronger than expected 228,000 jobs in March, although the unemployment rate inched up one-tenth of a point to 4.2%, the U.S. Bureau of Labor Statistics reported Friday.
Despite the mostly upbeat jobs report, the stock markets nevertheless plunged amid widespread concern over the
The professional and business services sector added 3,000 jobs, but lost 700 jobs in accounting, tax preparation, payroll and bookkeeping services. The biggest job gains occurred in health care, social assistance, transportation and warehousing. Employment also grew in the retail trade industry, in part due to the return of workers from a strike in the food and beverage industry. But federal government employment declined by 4,000 in March, after a loss of 10,000 in February, amid job cuts ordered by the Elon Musk-led Department of Government Efficiency. However, the Internal Revenue Service is
Average hourly earnings rose in March by 9 cents, or 0.3%, to $36.00. Over the past 12 months, average hourly earnings have increased 3.8%.
Trump boasted about the jobs report in an all-caps
Congressional Democrats disagreed. “Unemployment is rising, and this seems to be the last report buoyed by Democrats’ blockbuster job creation,” said House Ways and Means Committee ranking member Richard Neal, D-Massachusetts, in a statement. “Recession odds are getting higher by the day as Trump plagues our economy with the largest tax hike in decades. Wages would need to skyrocket for the people to weather Trump’s higher prices and needless uncertainty. This report doesn’t yet reflect the dangerous firings of thousands of public servants or the layoffs that started hours after he announced the Trump Tariff Tax. This administration is ruling through the lens of billionaires — sacrificing workers’ paychecks, destroying trillions of dollars in savings and retirement wealth, readying
Economists are predicting fallout from the historic tariff increases announced by Trump. “We now have more clarity on the trade policy following ‘Liberation Day’ on April 2,” wrote Appcast chief economist Andrew Flowers. “The average effective tariff rate is now above the level set by the Smoot-Hawley tariffs in 1930. This is one of the largest changes to economic and global trade policy since President Nixon’s decision to move away from the gold standard more than 50 years ago. The impending fallout from retaliatory tariffs from our trading partners across Europe and Asia will radically shift employment growth across manufacturing, retail and construction as consumer goods prices rise.”
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