AI isn’t going to take accountant’s jobs, but it can fill the talent gaps

About the role

While headlines warn that AI will take our jobs, the accounting industry faces a very different reality: not enough people, not enough time, and not enough expertise. I believe accounting, in particular, has been hit hard by talent issues in recent years. Last September, 'Accounting and Finance Technicians' were identified as one of the 10 most critically in-demand occupations by Skills England. It's not just the UK that is facing challenges recruiting and retaining talent – at the end of 2022, the Bureau for Labor Statistics in the US said 300,000 accountants and auditors had quit their jobs over a two year period. That equated to a 17% reduction in the profession's workforce, and it was the largest reduction of professional accountants the U.S. has seen in the last 14 years. There are many reasons for this shortage. As our workforce ages, new grads are not coming in to take their place as much as we would like. On top of this, many accountants, both experienced and new to the field, choose to leave the profession due to burnout from workload, unsustainable hours or lack of clear career progression. An ageing workforce, rapid advancements in tech, and shifting job expectations are widening the gap between talent needs and the number of qualified accountants.

Responsibilities

• Automate repetitive tasks across the finance function including data entry, report generation, certain auditing processes, and much of the accounting close process
• Free up time to focus on strategic functions and value-add tasks by reducing reliance on human labour for basic tasks
• Deliver insights on cost and growth objectives
• Provide data that can tell a story to potential investors
• Match, validate and close every reconciliation, every journal, every approval at the true point of financial accuracy across the financial close process
• Move away from chasing data points into a more strategic role internally

Requirements

• Clean, accurate, and well-structured data for AI implementation
• Ability to adapt to a cultural shift in how finance teams utilise technology
• Willingness to offer dedicated time to learn and collaborate between technology and finance teams at all levels

Qualifications

• Understanding of AI's capabilities and limitations in accounting contexts
• Experience or readiness to work with general LLM tools like ChatGPT and Claude, or niche tools designed for accountants
• Awareness of how AI tools can support the financial close process

Skills

• Strategic thinking and ability to focus on value-add tasks
• Ability to foster collaboration between technology and finance functions
• Adaptability to rapid technology changes
• Understanding of how to leverage AI without replacing human judgment
• Capacity to help reimagine accounting roles and uplift teams