of tomorrowAccountancy in 2028 survey
What does the future hold for accountants in practice?
Our survey of over 300 accountants in practice explores the potential impact of emerging technologies, changing regulation and the evolution of compliance services on the accountancy industry over the next ten years. The findings uncover trends, reveal key drivers for change, and expose growing areas of critical expertise.
How likely do you think your role is going to change within the next ten years due to advances in technology?
Over 95% of accountants surveyed state their role is likely to change due to technology, with 74% stating this change to be ‘very likely’ and 22% ‘likely’ to change. This is mainly due to the digital capabilities of HMRC and the general availability of technology and cloud based tools to businesses and their accountants.
- Very Likely
- Neither likely or unlikely
Which ‘critical’ accountancy tasks are most likely to become automated by technology in the next ten years?
Wherever possible, tasks that can be automated will become the norm over the next decade, as accountants foresee bookkeeping (78%) and data collection (74%) as the tasks most likely to be taken care of by technology in 10 years’ time.
Top three tasks automated by 2028
- Data collection
- Tax returns
- Data collection
- Tax return submission/filing
- Report generation
- Tax return prep
- Financial records
- Client comms
- Business plans
Which knowledge areas will be critical for you to understand in the future?
With digital/cloud technology cited as the most critical area of understanding for accountants in the future, the profession could see a rise in specific technology focused roles with titles such as cloud technology champion and cloud service manager over the next decade.
- Digital/cloud technology
- Accountancy/tax law
- Business development/marketing
- Business acumen