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How will AI affect accounting jobs?

ThomsonReuters

Jump to: How is AI affecting accounting? Is AI replacing accounting jobs? What is AI automating in accounting? Can AI do accounting? How to use AI to innovate Artificial intelligence (AI) is making its presence felt across many industries—and the accounting profession is no exception.

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Friday Footnotes: No Foolin’ Here; 18,000 New Accounting Jobs; Skills Auditors Need NOW to Be Future-Ready | 4.1.22

Going Concern

431K jobs added in March, with 18.2K in accounting [ Accounting Today ] Some of the main job gains occurred in leisure and hospitality, and professional and business services, along with retail trade and manufacturing. Ah, memories. Over the past year, average hourly earnings have increased 5.6%. Chinese and U.S.

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The Accountant Shortage is a Material Weakness Now

Going Concern

The Wall Street Journal wrote today about recent disclosures made by Advance Auto Parts, Joby Aviation, and Germany’s Evotec that specifically point to a lack of accounting staff as a contributor to or sole factor causing certain material weaknesses. We have engaged a leading public accounting firm to support this work.

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Here Are Even More 2024 Accounting Salary Projections

Going Concern

Last month we took a look at the 2024 Robert Half Salary Guide to get an idea what public accounting salaries should be in the range of next year, today it’s a similar report from Addison Group and their 2024 Workforce Planning Guide. The guide covers several industries, we are of course only here for accounting. Say what now?

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There Are 340,000 Fewer Accountants—and Companies Are Paying the Price

CPA Practice

While it’s unclear what exactly led to the mistakes in each of these cases, one major risk factor has reached crisis levels: a shortage of certified public accountants. The lack of help means current accountants’ hours and workloads can be grueling, upping the odds of mistakes and burnout. “If

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ChatGPT Isn’t Terminator for Accountants…Yet

Going Concern

Was ChatGPT sent to us from the future to rescue the industry from the pipeline crisis by filling open accounting jobs with cyborgs and sentient machines? Accounting is ridiculously rules-based: assets = liabilities plus equities; debits = credits; cash in > cash out, etc. Some of it already has been.

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Many Finance and Accounting Workers Are Optimistic About the Job Market — Here’s How CPA Firms Can Respond

CPA Practice

hiring and employment trends found that 95% of hiring managers in finance and accounting face challenges in locating skilled candidates available for hire. This finding is not surprising in a profession where unemployment rates for many in-demand roles, including accountants and auditors, typically trend well below the national average.