Welcome to the IRL, where we’re getting… real. Hear from real accountants, with real stories, about what they’ve learned throughout their journey. Get their tea, 'aha’ moments, tips, and everything in-between. We aim to provide you with multiple perspectives, so you can see firsthand how diverse and varied the accounting experience is.
What’s up! 👋 We asked three accountants how the world of accounting is changing for the better and what they’re excited for in the future. If you get excited about the latest gaming systems, geek out over VR headsets, or generally love seeing how things evolve, then this one's for you👇 But first… get the lingo 🤓
- Generative AI - artificial intelligence that uses prompts to generate text, images, videos, or other data
- Cloud Technology - services like servers, storage, databases, networking, software, analytics, and intelligence over the internet or “the cloud”
- Machine Learning (ML) - this is a type of artificial intelligence that uses data and algorithms
- Robotic Process Automation (RPA) - a software technology that supports the creation, deployment, and management of software robots that mimic human actions within digital systems
- IT General Controls Environment - this is the set of standards, processes, and structures that ensure internal control across the organization as it relates to technology to mirror the way that humans learn, in order to improve its accuracy
- Core Plus Discipline - this is a new model for obtaining the CPA license that will require candidates to illustrate proficiency in three core areas: accounting, tax, and technology, plus skills in one of the following three disciplines: tax compliance and planning, business reporting and analysis; or information systems and controls
What are some exciting developments (technology, innovations, etc.) you’ve come across in the field of accounting lately?
👨🏾 Name:
Brian J.
💼 Title:
Crowe Audit Technology Partner (⬅️What does this mean? They focus on using technology in order to perform audits more effectively.)
📍Location:
Illinois
The technology which is on everyone’s mind is artificial intelligence (AI) and especially generative AI. While I don't expect AI to replace accounting professionals, I believe people who know how to get the most out of AI will be in the best position for career advancement. I am excited about the possibilities available to improve our efficiency with AI assistance. Whether it's writing proposals, composing emails or having the technology take notes and record action items while you concentrate on meeting goals. I think we are just beginning to comprehend what will be feasible with these tools in our field profession. Some scenarios I can envision soon include using technology to examine source documents such as contracts or debt agreements or doing the first draft of audit documentation. Accounting professionals will need to be skilled at directing the AI, reviewing and using professional judgment to finalize work. I agree with the quote that “it's always easier to criticize than create.” I foresee this technology being part of almost every solution we use soon.
👩🏽 Name:
Tiana P., CISA
💼 Title:
EY Technology Risk Assurance Manager (⬅️What does this mean? They help evaluate the risks associated with the use of technology for businesses across all industries.)
📍Location:
Virginia
Working in the accounting field has granted me the opportunity to work with an array of clients within different industries, sectors, and applications, which has allowed me to gain insight into how they are leveraging emerging technologies like Artificial Intelligence (AI), Machine Learning (ML), cloud technology, Robotic Process Automation (RPA) and Data Analytics. Being in a position where I audit IT systems used by my clients, I have a unique opportunity to see how they are or plan to use some of the emerging technologies in their day-to-day business. It also allows me to be a resource and sounding board while they think through the different technologies used and how that could impact their IT general controls environment. My accounting firm constantly explores ways in which we can leverage these emerging technologies in house to help drive innovation for ourselves and our clients. For example, one of my clients is thinking about using RPA within their IT controls environment. This allows our team to have a seat at the table to help our client think through how they plan to use RPA and help them think through the risks of its implementation. It also allows us to think through how the use of RPA would impact our audit approach to their account.
👩🏽Name:
Krystle B., CISSP, CPA, CISA
💼 Title:
Plante Moran Management Consulting Senior Manager - Cyber Security (⬅️What does this mean? They help protect companies’ digital assets from cyber threats.)
📍Location:
Michigan
For those who are interested in pursuing the certified public accountant (CPA) track, an exciting change that I have seen in the accounting/audit field is the evolution of the CPA exam to the new Core Plus Discipline model. This change will help the field keep up with the ever-changing environment, technologies, and expectations for CPAs. I was fortunate enough to participate in the standards-setting for one of the disciplines to help ensure that the changes to the examination are reflective of the knowledge and skills that would be expected from our candidates. This change is exciting to see because it modernizes the CPA role and challenges the old, boring, and stuffy assumptions about CPAs and the accounting industry in general.
If you’re a tech-junkie at heart, you might’ve just met your match with accounting — it’s the best of both worlds. Not only do you get the chance to use top of the line tools to ensure client success, you have the chance to drive and advance innovation forward.
