Artificial intelligence (AI) has garnered significant attention in recent years, with much discussion centered around its potential impact on accounting jobs.

In the article, “Reframing AI and the Evolution of the CPA’s Role,” recently published in the spring 2025 issue of NewsAccount, authors Sarah Flischel, Andrew Jordan, and Bill Wootton reflect on lessons learned from past technological advancements impacting the accounting profession. The authors note that these lessons can serve as the basis for determining how best to leverage AI to help to reshape practice operations while managing associated risks.

Accounting’s Technological History

From Luca Pacioli’s first description in 1494 of double-entry accounting, the first technology that significantly impacted accounting didn’t come until 1914 with the invention of the 10-key. This development greatly improved many accountants’ speed and accuracy, and also brought more women to the profession. 

When QuickBooks launched in 1992, concern abounded that accountants would lose their jobs to this software, which could maintain business’ books. While QuickBooks eliminated certain parts of our work and sped up some aspects of bookkeeping, we learned that accounting software still requires that accountants use it properly and skillfully. 

And it wasn’t long ago that tax research meant going to a physical book and looking up code sections. There was a significant learning curve and even an art to that process, which evolved into subscriptions with updates delivered by CDs (and the ability to search for keywords), to online tax research tools, and to AI-powered solutions like BlueJ. 

Getting to the right answer on a tax matter still requires expertise and an understanding of the relevant context that applies in a given situation. Tax research is now easier with AI, eliminating the need for manual cross-referencing and specific search methods.

Looking Ahead

In light of these historical advancements, it is clear that technological innovations have consistently enhanced – rather than diminished – the accounting profession. As we stand on the brink of another significant transformation with AI, it is important to recognize both the opportunities and the continuity within our roles. 

The article explores opportunities to integrate AI into daily practices to enable staff to perform higher-level work and discover innovative ways to serve clients beyond what was ever imagined. As well, AI can help to alleviate the pressures created by mounting talent pipeline shortages and increasingly complex regulatory requirements. 

Getting Started, Managing Risk

The hardest part of implementing new technology and creating change is getting started. The article details the following use cases for those just beginning to use AI:

• Creating content
• Performing research
• Identifying red flags
• Summarizing documents
• Assisting with writing

The authors note that just like the technological advances within the profession that preceded AI, amidst the benefits come certain risks that must be managed. Using 10-keys came with the risk of it failing and the user lacking a good backup. Bookkeeping software came with the risk of computers crashing and losing data, and the shift to the cloud exposed us to the risk of hacking. 

So, how do we mitigate the risks that come with artificial intelligence?

• Keep in mind that when you are using AI, you are using a tool. It might sound like a person but it does not actually think for itself. 
• Understand how and why certain tools are being used in your firm and invest in high-quality, secure options for everyone to use.
• Train your team on best practices for using secure tools and define what is and is not acceptable to enter into AI. Having clear, reasonable boundaries will increase compliance significantly, limiting the risks of using this new technology within your firm.

By looking at the past and understanding how technology has historically affected the accounting profession, we can confidently embrace AI as a tool that will enhance our capabilities, not threaten our jobs. The future of accounting is bright, with AI helping us to work smarter, not harder.

Based in Denver, Sarah Flischel, CPA, is the director of Audit Transformation and Training at AAFCPA. Andrew Jordan is an owner of Jordan CPA Services, Carthage, Mo., and Dr. Charles W. (Bill) Wootton is a retired Eastern Illinois University professor of accounting whose career spanned several decades. Read their full article, “Reframing AI and the Evolution of the CPA’s Role,” adapted with permission from the Missouri Society of CPAs, in the newly released spring 2025 issue of NewsAccount.

Beginning with this issue, COCPA members can earn free CPE credit for NewsAccount readership! Take advantage of this opportunity to earn free CPE while staying on top of the latest news from the profession. Click here to learn more and register.

Interested in discussing and learning more about technology and its impact on the accounting profession? Click here to learn more about the COCPA Technology Users Group, or contact Stacy Svendsen.