Focus on strategy, not speed, as AI reshapes the practice of accounting

“I think this is an incredibly exciting time to be in accounting, whether you're joining it or whether you're already part of it and part of the transformation that technology will enable over the next five years,” he said.

While AI adoption has accelerated across the profession, Hindle said firms should avoid becoming distracted by the perception that they are lagging behind competitors. “It's never too late to catch up, and you're probably not falling behind,” he said.

“I think there's a lot of spotlight effect with these sorts of things. When you reflect on yourself, your business and your team, sometimes you can feel like you're further behind your peers than you actually are, particularly when you're seeing examples of AI use across social media.”

Rather than attempting wholesale transformation, Hindle encouraged firms to begin with small, low-risk use cases that solve genuine business problems: “I'd encourage people to start small. Look for a repeatable workflow in your business or a pain point where there's either a bespoke tool or a general-purpose AI tool like ChatGPT or Claude that you can experiment with.”

“Find low-risk workflows where you can apply these tools, play around with them and give them a go.”

However, Hindle added that successful AI adoption depended far less on the technology itself than on having a clear vision for the firm's future.

“The practices that do best are the ones that are really clear on where they're trying to get to,” he said.

“What are their goals? Where do they want to be as a business? What sort of service offering do they want to have? What sort of clients do they want to engage with? Then they look at technology as one of the enablers that can help them get there.”

He said that firms should consider technology alongside their people and business processes, describing the three areas as equally important foundations for long-term success.

“Be really clear on where you're trying to get to, then look at people, process and technology as the three pillars that will help you get there,” Hindle said. “Don't just look at the tools. Look at the people you have and, most importantly, the processes that underpin everything you do, and make sure they're aligned with where you're trying to go.”

The advice applies equally to firms of all sizes, despite larger practices generally moving faster on AI adoption, according to MYOB's research. Smaller firms could even have an advantage, Hindle said, because they often have greater flexibility to trial new technologies without the complexity faced by larger organisations.

“Generally speaking, larger firms have been a little quicker to adopt some AI tooling than smaller firms, but it's by no means the case across the board,” he said. “If you're a smaller firm, you generally have the freedom to be a little more creative and move a bit more quickly if you choose to.”

He acknowledged that time remained one of the biggest barriers for practitioners already balancing demanding workloads.

“Most accountants are not exactly swimming in time,” Hindle said.

“But if you can find ways to create the time and look for small ways to experiment, dip your toe in the water and become more familiar with the tools that are available, that's the best first step. Then you build from there.”

Looking ahead to 2030, Hindle predicted that “a huge amount of the manual work that still gets done by accountants (i.e., manipulating data, working with spreadsheets and reformatting information) will be gone” as AI assumes it, he said, allowing firms to deepen advisory relationships with clients.

Rather than focusing on annual compliance cycles, he expects firms to become year-round strategic advisers to small businesses: “I think the annual compliance workflow will become much smoother. Instead of being a mad rush around lodgement dates, it will be part of a broader partnership where accountants help small businesses grow and provide advice throughout the year on making the most of business opportunities.”

For firms weighing their next move, Hindle's message was that AI should be viewed as a long-term business enabler rather than a technology project, with success determined less by how quickly firms adopt new tools than by how effectively those tools support their broader strategic objectives.

The transcript of this podcast episode was slightly edited for publishing purposes. To listen to the full conversation with Liam Hindle, click below: