Will AI Replace Accountants? The Real Impact of AI on Accounting Jobs & Hiring

Will AI replace accountants?

It's a question we're hearing more often, and if you're spending any time in accounting forums or on LinkedIn, you know that there are plenty of opinions about the answer. There are some in the industry that predict a profession transformed by automation. Others argue that accounting will always need people.

For accountants trying to make a career decision - and firms trying to decide who they'll need on their teams in the next few years - neither extreme is particularly helpful. So what are we actually seeing?

Right now, AI isn't dramatically reducing accounting jobs. Firms are experimenting with the technology, but they're still hiring, and good accountants are still difficult to find. Looking towards 2027 and beyond, though, the work itself is changing. 

Is AI replacing accounting jobs? 

Not in any significant way yet, according to what we're seeing in the market. Rezonate Recruitment co-founder Will Millington works closely with accounting firms and candidates and says: “I haven't seen any drastic change in hiring. Firms are still recruiting at similar levels and good people are still hard to find.”

Instead, most firms are still working out where AI fits in their business model. Will maintains that “firms are trialling tools, testing what works and seeing where AI can add value. It's more of a gradual shift than a shake-up at this stage.” 

The wider employment picture also supports that. Jobs and Skills Australia currently records around 215,500 accountants employed across Australia, with annual employment growth of 5,800. So the AI impact on accounting jobs isn't as simple as roles just disappearing. What we're more likely to see is AI taking over parts of an accountant's workload, particularly the repetitive parts. The human role shifts towards work that requires judgement, communication and sound advice. 

Which accounting tasks could AI automate?

There's already plenty of accounting work that AI and automation can do well. Data entry, bank reconciliations, and coding transactions are just the obvious examples.

First drafts of financial statements and tax returns, the basic BAS preparation, routine compliance document reviews, workpapers and variance commentary are also becoming increasingly automatable. This can save accountants a considerable amount of time. But things can become more complicated when there isn't one straightforward answer.

Advising a client on structuring, succession, Division 7A or SMSF strategy involves a lot more than just understanding the numbers. Accountants must interpret the situation while recognising the grey areas and sometimes work out what a client actually needs rather than simply answering the question that they asked.

There is also the question of trust. As Will puts it, “business owners want a person they can ring.” AI can assist with the work, but somebody still needs to review it, make the judgement call, and take responsibility for the outcome. That's particularly important in accounting.

The Tax Practitioners Board's guidance on the use of artificial intelligence makes it clear that registered tax and BAS agents remain accountable for services provided using AI. Using the technology doesn't remove the need for professional judgement or reasonable care. 

What does AI mean for graduates and junior accountants?

This is probably where the AI impact on accounting raises the biggest questions. Graduates and junior accountants have traditionally done more of the processing and preparation work that AI is good at automating.

CPA Australia's 2025 Business Technology Report found that 19% of surveyed businesses across the Asia-Pacific had reduced or stopped filling junior or entry-level accounting and finance positions because of AI. Will also sees early-career accountants as the group most exposed to change. But there is another issue that firms need to consider.

“The risk for the profession is how people learn the fundamentals if that work disappears.”

Those early tasks may be repetitive, but they also teach people how accounting works. If a graduate isn't spending as much time preparing reconciliations, preparing compliance work or creating first drafts, firms need to make sure they're still learning the principles behind them. Otherwise, we risk creating a gap between automating junior work today and having experienced seniors and managers tomorrow. 

For graduates, that doesn't mean there's no future in accounting, it just means that the path through those early years may look different to what they expected at the beginning of their studies.

The skills accounting firms are looking for are changing

This is one area where Rezonate is already seeing a noticeable difference. Technical skills still do matter, and they always will, but increasingly they are the baseline rather than the thing that sets one candidate apart from another.

Firms are asking for people who are comfortable with technology and can pick up new software quickly. Just as importantly, they want accountants who can check AI-generated work critically rather than assume the computer has to be right. Communication is another area that is becoming more valuable, too. 

Can you explain the numbers in plain English to a business owner? Do you understand the client’s business rather than only their ledger? Can you identify an issue or opportunity and talk to them about it? This is an advisory mindset that is very difficult to automate.

For intermediate and senior accountants, moving into review and client work earlier could become particularly valuable. Managers and more senior accountants remain less exposed because so much of their role involves judgement, leadership and relationships. Specialist expertise matters too. Complex tax, restructuring and forensic work still requires someone who knows their subject and can handle the grey areas with confidence. 

Are accountants worried about AI?

There is some nervousness, particularly among people at the beginning of their careers, and that's understandable. But Will says he's seeing more curiosity than he is panic, stating that “most people see it as another tool, like the move to cloud accounting. You learn it or you get left behind.”

Candidates are also starting to ask firms more questions about their technology before they accept a role. For some, a firm that's behind on tech can be a red flag. They want to know they're joining a firm that's moving with the profession and will give them opportunities to develop relevant skills. This matters for employers, too. Investing in technology isn't only about efficiency. Increasingly, it can form part of how you attract and retain good people.

How can accountants stay valuable as AI develops?

You don't have to become an AI expert, but ignoring it probably isn't a great career plan either. Get comfortable using the tools available to you, and importantly, learn their limitations. Being able to spot a questionable output is far more valuable than knowing how to copy and paste a prompt.

Then, keep developing the skills that are harder to automate. Understand the ‘why’ behind the numbers. Build confidence speaking with clients. Learn to interpret rather than only process. If there is an area of accounting you enjoy, developing specialist expertise can give you another layer of value.

And choose your next firm carefully. Look for somewhere investing in technology and developing its people. The two should go together. If you're considering a move, you can explore current accounting opportunities through Rezonate and see what firms are looking for now. 

As Will says, “stay curious. The accountants who do well will be the ones who treat change as an opportunity, not a threat.”

So, will AI replace accountants? 

Going into 2027, we don't see evidence that accountants are about to disappear. What we do expect to change is how they spend their time. 

AI will continue to take on more of the routine admin work with processing and first drafts. That creates challenges, particularly around how junior accountants develop their skills, but it also gives accountants more opportunity to focus on client advice, interpretation and strategy.

For candidates, that means thinking about the skills you want to build and choosing firms that will help you to develop them. For employers, it means looking beyond the work that needs doing today. If AI changes the traditional pathway from graduate to senior, how are you going to develop the experienced accountants you'll need tomorrow?

Behind all the talk about AI, accounting is still a people business. If you're thinking about your next career move or what your team needs heading into 2027, start the conversation with Rezonate Recruitment.