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The impact of advancing technologies on the requirement for a human workforce in accounting

In: Research Handbook on Accounting and Information Systems

Author

Listed:
  • Victoria McKinlay
  • Julia A. Smith

Abstract

The development of technology over recent years has created concern surrounding the future need for a human workforce. This chapter explores the impact artificial intelligence has had on the accountancy profession. We assess the awareness of individuals within the industry, using an interpretive approach, in order to gain a better understanding of the future for accounting professionals. The study uses a questionnaire to gain insight into the opinions of professionals within the industry and their thoughts on artificial intelligence and advancing technologies. It utilises narrative analysis to conclude that the leading factor of the adoption of technology and artificial intelligence within the industry is thought to be increased efficiency. While automation can work longer and faster than humans, it does not yet have the capabilities to make fair and justified judgements and, for this reason, we conclude that, currently, the human workforce still has the advantage.

Suggested Citation

  • Victoria McKinlay & Julia A. Smith, 2024. "The impact of advancing technologies on the requirement for a human workforce in accounting," Chapters, in: Julia A. Smith (ed.), Research Handbook on Accounting and Information Systems, chapter 17, pages 288-308, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20914_17
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    File URL: https://www.elgaronline.com/doi/10.4337/9781802200621.00029
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