Welcome to the Chartered Accountants Global. Update your source for the latest insights shaping the global accountancy profession. Today we are diving into one of the most transformative forces facing our profession, artificial intelligence. We are exploring findings from a major new research report by chartered accountants Worldwide and Ipsos UK entitled 'AI and the Future of the Global Chartered Accountancy Profession'.

Plus we'll share key takeaways from CAW Network USA's recent webinar 'Beyond Accounting, AI and Accountants 2025'. Let's start with the numbers. The research surveyed over 2,700 chartered accountants across 13 institutes globally, and the results reveal a profession at a pivotal moment. Here's the headline.

85% of chartered accountants surveyed are willing to use AI technology when given the opportunity. That's [00:01:00] overwhelming enthusiasm, but here's the catch. 52% say insufficient skills and training is the biggest barrier to AI adoption across the profession. So we have the appetite, but we are lacking the tools to satisfy it.

What's particularly interesting is how AI is currently being used. Right now, adoption is largely individual driven rather than organizational. Accountants are experimenting with publicly available tools like Chat, GPT. 70% of those using AI monthly rely on these generic platforms, but the applications remain basic, general productivity, data entry, and simple reconciliations.

The more sophisticated technical applications, those are still in early stages. As one survey respondent put it, AI can automate many audit tasks like data collection and execution, but critical thinking, judgments and [00:02:00] complex problem solving. That's where humans are leveraged. Now, let's address the elephant in the room.

Will AI replace Chartered Accountants? The research offers reassurance. 83% of respondents agree that accountancy firms not integrating AI will struggle to compete, but they also believe AI will augment, not replace the Chartered Accountants role. In fact, 87% agree that in five years, accountants will focus more on strategic advice than data processing.

Thanks to AI automation. And 79% say that as AI integrates into business, the role of accountants as data guardians, ensuring data governance will become increasingly important. But there are some barriers to overcome data security tops. The list 30% of respondents cited as the main reason they're not using AI more frequently.

C-Suite executives are [00:03:00] particularly concerned with 34% saying reassurance about data security would increase their AI usage. The research identified three approaches. Organizations are taking, first, relying on established platforms like Microsoft Co-Pilot that come with existing security frameworks.

Second, creating internal governance structures with formal approval processes. And third, unfortunately, avoiding AI altogether due to regulatory complexity. So who should lead the training charge? Survey respondents are clear professional accountancy bodies, not employers. 65% expect institutes to provide AI training with that number jumping to 69% among smaller organizations.

So what do they want? They are asking for integration of AI into existing CPD requirements, specialized AI courses, and access to [00:04:00] practical learning resources. The emphasis is on hands-on application, not just theory. As the Beyond Accounting Webinar highlighted, the profession needs to move beyond talking about AI to actually implementing it with proper guidance on ethics, data security, and practical integration.

The research offers three key recommendations for Chartered Accountants worldwide and its member institutes. First, promote a positive vision of AI's impact. Highlight opportunities like enhanced strategic advisory and stronger client relationships while addressing concerns about security and ethics.

Head on. Second, collaborate with institutes to develop targeted AI training programs, especially for small and medium sized organizations where employer led training is less common. And third, develop an AI competency framework for the profession outlining essential knowledge and skills [00:05:00] at different career levels to guide both training and professional development.

Here's the bottom line. AI represents not a threat, but an opportunity for Chartered Accountants to evolve into more strategic advisors. The technical skills that define the profession today won't disappear. They'll be enhanced by AI freeing accountants to focus on what machines can't do, critical thinking, ethical judgment, and trusted advisory relationships.

56% of respondents agree that incorporating AI makes accountancy more attractive as a career. That's the future we are building for the full research report and to watch the Beyond Accounting, AI and Accountants 2025 webinar. Visit Chartered Accountants worldwide.com. This has been the Chartered Accountant's Global Update.

Until next time, stay informed. Stay ahead.