Bruce Cartwright CA – CEO of ICAS

The report reveals that 79% of Chartered Accountants surveyed agree that as AI is integrated more into business, the role of accountants as “data guardians” will become increasingly important to organisations.

Younger professionals are already leading the way in adoption with 91% of 18–25-year-olds surveyed being very or fairly willing to use AI. They are already leveraging AI to enhance general productivity (40%), data entry (24%), client services (17%), and risk management (12%). However, CAW suggests the research also highlights a critical need for upskilling and leadership to ensure the profession fully capitalises on AI’s transformative potential.

The Institute of Chartered Accountants of Scotland (ICAS) is part of a CAW Technology & AI working group led by CAW. The group commissioned the research was to understand members’ experiences and perceptions of AI, with Ipsos selected to deliver the research on the groups’ behalf.

Bruce Cartwright CA, CEO at ICAS, said: “This global report reinforces the importance of trust and governance in AI adoption, positioning Chartered Accountants as key stewards of financial integrity in an evolving digital landscape.

“AI is set to revolutionise the profession and our members across the UK are at the forefront of integrating AI for strategic decision making. ICAS is committed to bridging this gap by equipping our members with the necessary training and ethical frameworks to ensure responsible AI implementation.”

The findings: A profession poised for AI transformation

The report, based on 2,718 respondents across 48 countries from multiple professional Chartered Accountancy institutes, underscores that AI is already reshaping the profession:

• AI is reshaping the profession — 85% of Chartered Accountants surveyed are willing to use AI technology, given the opportunity.
• A workforce eager for change — 83% of those aged 18-24 are using AI tools at least once a week, leveraging AI for general productivity (40%), data entry (24%), client services (17%), and risk management (12%).
• Leadership must step up — While 80% of Chartered Accountants surveyed aged 18-24 are confident in using AI in their role, senior decision makers are less so (55%). This group says their main reasons for not using AI are concerns about data security (33%), a lack of training (28%), and existing company policies preventing access (14%). CAW is concerned this hesitation risks slowing the pace of innovation.
• Upskilling is essential — 65% of surveyed Chartered Accountants expect Chartered Accountants to receive training on AI and its applications from professional bodies.
• AI is an opportunity, not a threat — 52% of Chartered Accountants surveyed disagree that the value that accountants provide can be replaced by automated systems. CAW considers this to be an opportunity in positioning Chartered Accountants as Data Guardians and strategic advisors in an increasingly digital economy.

Senior leaders must drive AI adoption

A leadership gap may slow AI adoption in the profession, as senior professionals remain cautious. 53% of C-suite executives surveyed say they do not feel prepared for the impact AI will have on their job role over the next five years. Qualitative interviews show that trust often depends on existing security frameworks like Microsoft’s Co-Pilot. While some firms implement internal governance, cross-national regulations can be a barrier.

36% of surveyed Chartered Accountant C-suite executives cite data security and risk of cyber-attacks as one of the biggest barriers to AI adoption, highlighting it as the primary barrier to wider use.

However, without proactive leadership:

• Organisations will struggle to compete in an AI-driven economy.
• Chartered Accountants risk being left behind by other industries that are rapidly integrating AI.
• The profession will fail to fully capitalise on AI’s potential, limiting its ability to drive business innovation and efficiency.

Ainslie van Onselen, chairman of CAW and CEO of Chartered Accountants Australia and New Zealand, emphasised the need for leadership and action: “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.

“Senior leaders must take the lead in equipping professionals with the skills and confidence to harness AI’s full potential. 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.

“With data privacy and security top priorities, 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.”

Maciek Ozorowski, head of AI transformation at Ipsos UK, highlights the need for upskilling to embed confidence in using AI. He said: “In line with trends observed across various professional services, the adoption of Artificial Intelligence among Chartered Accountants is gaining momentum, driven by a widespread interest in enhancing efficiency and job satisfaction.

“This enthusiasm, however, is tempered by the current limitations of generic AI chatbots, which are not yet equipped to handle complex, specialized tasks, restricting their use to simpler functions. To fully realise AI’s potential in the Accountancy sector, there is an urgent need for bespoke AI solutions that integrate seamlessly into existing workflows.

“Moreover, upskilling remains a critical area of focus, as many accountants lack the confidence to effectively utilise AI tools. Addressing these challenges will be pivotal in advancing AI adoption, ensuring that Chartered Accountants can harness the technology to its fullest, ultimately transforming their roles into more strategic, advisory capacities.”

What needs to happen next?

To ensure AI is successfully embedded within the profession, senior leaders must:

• 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.

The future of Chartered Accountancy is being reshaped by AI, and the profession cannot afford to stand still. Senior leaders must lead the charge – the time for action is now.

Ipsos carried out research on behalf of Chartered Accountants Worldwide from 03/09/2024 to 06/12/2024, conducting a 20-minute online survey among 13 of their membership organisations spanning 48 countries The aim of the survey was to understand:

• The views, experience and expectations regarding AI technologies in the Chartered Accountancy role.
• Invitations to complete the survey were sent to members of participating institutes via email, social media, and institute leadership advocacy. For the purposes of analysis members who are retired and not professionally active have been excluded from results.
• As an open link, participants had the flexibility of skipping questions so base sizes vary throughout the results. Quotas were not applied.
• The results are not intended to be representative of the accountancy profession as a whole – percentages in the report are indicative of respondents to the survey rather than all Chartered Accountants.
• 2,718 Chartered Accountants participated. Among this group, were 274 C suite executives, 144 18–24-year-olds, 1168 Senior Decision Makers (comprised of 321 Senior Managers, 250 Directors, 274 C-suite Executives and 323 Partners).
• Following the online quantitative part of this study, Ipsos UK contacted individuals who had self-reported in the survey they were both willing to be contacted and had played a key role in implementing AI within their organisation, resulting in six 30-minute qualitative interviews exploring how the implementation had been conducted.