Will the Accounting Profession Disappear?
A conversation between an accountant and a software engineer about the impact of AI on the accounting profession.
A short conversation between an accountant and a software engineer.
How are you contributing to this new vision?
Jonathan (software engineer): As engineering team lead, I execute this vision. My team and I are responsible for creating the software that will bring this new vision to life. Working on software that will reduce the year-end burden for accountants has helped me realize the scale of their workload.
Alex (CPA): As a CPA working at Stamped, my colleagues and I are the first testers of new software. One of our roles is to help software engineers understand accounting and audit standards. We’re currently thinking about what reasonableness will look like in 5 years and developing new AI-based audit methods.
Will accountants be replaced?
Jonathan: At some point, everyone should be concerned. If AI can write code, then there’s certainly an AI that can read invoices and complete the reconciliation process. However, I don’t believe it will completely replace accountants in the next decade.
Alex: Most of the work I do isn’t at the transactional level. It’s about filling checklists, referencing accounting standards, and applying professional judgment. I expect accountants’ and auditors’ work to have a longer lifespan, unlike transaction processing jobs.
Jonathan: We also can’t forget the trust factor. If people aren’t ready to trust a computer to file their taxes, it simply won’t happen. The adoption of disruptive technologies is often slow.