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Accountants have an “important role” to play in helping their organisations achieve AI adoption and implementation, according to new research from the Association of Chartered Certified Accountants (ACCA). It comes as the group’s latest AI Monitor report, ‘Risk and responsibility’, warned that AI tools “augment human capabilities while raising new questions about control, reliability and professional responsibility”.
It found that when classifying AI risks, some immediate threats for many organisations relate to the “significant” amounts of investment being committed and “either unrealistic expectations or poor judgement concerning the potential impact of integration”.
ACCA noted that success will come through “combining traditional financial acumen with new forms of technological oversight to maintain the profession’s fundamental role as arbiters of trust and integrity”.
It added that “these capabilities don’t replace professional judgement, but underscore its importance”.
The report highlighted that accountants are “uniquely positioned” to harness AI’s potential while maintaining “robust” safeguards. It added that moving forward, their contribution must reflect a three-layered approach: data, architecture, and business impact.
Alistair Brisbourne, head of technology research, ACCA, said: “Safely introducing AI into how our organisations work and make decisions isn’t just about technology – it’s about redefining how we exercise things like professional judgement. As regulatory frameworks evolve and AI capabilities expand, success will depend on striking the right balance: leveraging AI’s analytical power while strengthening professional expertise.
“Traditional concepts of materiality and professional scepticism are being reframed in the context of AI systems that can analyse entire datasets rather than samples during an audit, for example. This shift challenges accountants to think differently about risk assessment and the nature of professional evidence.”
He added: “Organisations need to build principles of transparency, accountability and clear procedures for monitoring and improvement into their AI adoption and implementation plans. If they do that, they’ll find themselves well-positioned to leverage new capabilities and meet changing regulatory and stakeholder expectations.”
