Why accountants are central to responsible AI adoption

For accounting and finance professionals, the opportunity is clear. AI can support data analytics and insights, research and communication, high-volume data processing and routine automation. But the profession’s value lies beyond what automation can deliver.

That creates a clear challenge for employers and business leaders. The issue is not simply whether finance teams have access to AI tools. It’s whether they can use them in ways that improve decision-making, preserve accountability and support trust in the outcome.

From efficiency to accountability

The accounting profession has adapted through repeated waves of technological change, from ledgers to calculators, spreadsheets and enterprise systems. Each shift elevated the importance of analytical insight and professional judgement.

AI is the latest step in that evolution. It is automating routine tasks and enabling faster reporting, while expanding accountants’ role in organisational decision-making. 

This evolution matters because AI is powerful, but it is not accountable. At CPA Australia’s 140th Anniversary Gala Dinner in March 2026, Peter Tonagh, chair of Nine and executive chair of Quantium, said AI can handle repetitive, rules-based work such as reconciliations, standard reporting and compliance checks but it doesn’t have judgement and cannot be held accountable.

For employers, that’s a critical distinction. AI may improve speed and efficiency, but it doesn’t remove the need for professional responsibility. As AI becomes more embedded in core business activity, organisations need people who test outputs, challenge assumptions and stand behind decisions.

Why governance is now part of the job

CPA Australia’s reporting on AI governance shows businesses face growing pressure to balance rapid adoption with ethical, legal and operational accountability. 

Responsible AI is typically understood as AI that doesn’t create harm or unintended consequences, but applying that in practice requires clear ownership and accountability. In Australia, this is largely guided by standards such as the AI Ethics Principles, existing legislation, and the Australian Professional and Ethics Standards (APES), which are compulsory for professional accountants. 

That creates a practical governance challenge for organisations. Responsible AI is not only a technology issue. It requires ownership, risk management and a clear understanding of how AI is being used in decision-making.

This is where accountants and finance professionals are becoming increasingly important. Their work already sits at the intersection of controls, evidence, assurance and accountability. These capabilities position them to guide responsible AI use. 

The implication for employers is clear. Governance must sit alongside adoption. If AI is influencing decisions, then governance is part of the job. 

The human skills AI cannot replace

The profession’s future is not simply about becoming more technical. It lies in combining digital capability with judgement, scepticism and ethical discipline. As technology takes over more routine work, value shifts toward interpretation, oversight and decision support. 

Generative AI and cloud software can automate tasks and support faster reporting, but they do not remove the need for context. They cannot determine reliability, fully assess risk or decide whether action should be taken. Those remain professional judgements.

CPA Australia CEO Chris Freeland says ethical foundations are becoming more important as AI evolves. The values underpinning the profession — integrity, objectivity, competence and professional behaviour — remain central to work that needs to be trusted.

“AI is already playing a meaningful role in how accountants work, and CPA Australia is investing in capability, guidance and education so members can use these tools confidently and ethically,” Freeland says.

That is the point for employers and business leaders. Finance capability is increasingly defined by how well teams combine technology with judgement, accountability and trust.

Building capability for the AI era

As discussed in a recent CPA Australia podcast, there is a gap between AI uptake and true integration. Many are experimenting rather than applying AI in a structured, strategic way.

That matters because effective AI adoption depends on more than access to tools. Mindset, curiosity and robust governance will determine whether AI delivers value. For finance teams, capability now has both a practical and a professional dimension.

The practical side is understanding where AI can improve analysis, workflows and efficiency. The professional side is knowing how to assess outputs, maintain oversight and apply judgement in context. Together, these enable responsible use. 

The opportunity for the profession is based on using the technology to create capacity for higher-value work and stronger decision-making, reinforcing its role in trust, governance and accountability.

Lead with confidence in the AI era

CPA Australia supports accounting and finance professionals to build the capability, judgement and ethical foundations needed to use AI responsibly. Explore professional development options including the AI Strategy and Leadership in Finance micro-credential and the AI Fluency Sprint for Accounting Professionals, delivered in partnership with Sydney Executive Plus at the University of Sydney Business School.