Accountants and Auditors

94%
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Will "Accountants and Auditors" be replaced by AI & Robots?

It's highly likely this occupation will be replaced by robots/AI. However, our poll is less clear, and shows a 64% chance of automation within the next couple of decades.

Automation Risk Level

You are doomed

or 94% probability of automation

Projected Growth

11%

by 2024

Median Annual Wage

$68,150

or $32.76 hourly

People Employed

1,246,540

as of 2016

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How this compares with other jobs: 598 out of 706

Cast Your Vote




How likely do you think this occupation will be taken over by robots/AI within the next 20 years?

Job description

Examine, analyze, and interpret accounting records to prepare financial statements, give advice, or audit and evaluate statements prepared by others. Install or advise on systems of recording costs or other financial and budgetary data.

SOC Code: 13-2011

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Comments

Kedric (Likely) says
It is meaningless, redundent, and prone to human error. Going automation makes things more accurate and efficient.
Sep 25, 2019 at 08:51 AM
G (Highly likely) says
All they do is menial tasks and processes. While they might require some mathematical skill, this can easily be automated, even without machine learning.
Sep 07, 2019 at 06:15 PM
Mike (No chance) says
Machines will force them from number crunchers to decision makers. They will not be replaced. They will evolve!
Aug 29, 2019 at 01:11 PM
Cosme (Highly likely) says
Machines are already able to make decisions much better than humans. They will evolve but in the long term, universal basic income will have to cover.
Sep 13, 2019 at 08:23 PM
Virgil (No chance) says
Routine items will probably be automated and the job characteristics will change but there will always be a need for the profession.
Aug 22, 2019 at 03:58 PM
Jfjdsjxnx (Could go either way) says
Depends on how specialized you are or are you just working with QuickBooks.
Aug 16, 2019 at 08:47 PM
jive (Small chance) says

It could be come a hard profession to get started in because the basic processes are automated but the non-entry level functions of explaining why the numbers are what they are will be hard to automate.
Aug 16, 2019 at 01:26 PM
Ardi says
Today is the orientation day on my postgraduation program . I took accounting profession program. And instead of giving great future insight, this speaker decide to reveal the sad truth of the future of accounting profession. Then i google everything and i have accepted this shitty reality πŸ˜­πŸ˜†. But i personally believe that this profession will not be fully automated by AI/Robots.
Aug 12, 2019 at 04:57 AM
Paul (Highly likely) says
You can automate anything that involves checklists
Jul 26, 2019 at 09:50 AM
Roy McFarlane (Highly likely) says
Automation has already replaced many accountancy services.
Jul 16, 2019 at 09:29 PM
The Prophet (Small chance) says
AI will certainly tighten the market for accountants and auditors, but the creative aspect of financial engineering and spotting it will still be up to humans. Machines need to be trained to recognize new patterns. Accountants and auditors are here to stay, but don't expect the 80 hour weeks in your 20's to be a big driver in your success anymore.
Jul 02, 2019 at 02:01 AM
Mark (Small chance) says
Computers and formulas are not a good replacement for human input on analysing certain trends in data. Profit cents is a good example of why
Jun 06, 2019 at 05:42 PM
Ronald (Highly likely) says
1. ERPs are already automating about 50% of accounting like double entry.
2. System interfacing allows vendors to enter invoices to ERPs by them selves
3. Robotics process Automation, in automates almost anything one can do in a system
Jun 03, 2019 at 06:12 AM
Tom Harrison (Could go either way) says
Profession will adapt.
May 28, 2019 at 05:44 PM
LW (Small chance) says
Because a lot of that field has to do with judgement and investigation.
May 28, 2019 at 01:05 PM
Ben (No chance) says
Too many problems to have all the solutions
May 10, 2019 at 10:39 AM
alex sadlier (Highly likely) says
bye bye Mr. Accountant, hello Mr. Automatron.
P.S. Actuaries are the best woop woop
May 07, 2019 at 04:11 PM
JT Kostman, PhD (Highly likely) says
I'm widely regarded as one of the world's leading experts in Applied Artificial Intelligence and Cognitive Computing - and I am presently working with one of the major accounting firms. As such, I have first-hand knowledge of the specific work being done by accountants, auditors, and tax advisors - as well as how that work can be replaced by bots.

In their recent book, The Big Four: The Curious Past and Perilous Future of the Global Accounting Monopoly, Ian Gow and Stuart Kells contend:

β€œThe probability that some types of accounting, auditing, and tax jobs will be automated in the next decade is 100%. The repetitive work of auditing is well-suited to robots. Large swaths of audit and advisory work can be replaced by smart algorithms and cognitive artificial intelligence.”

I wholly agree - but it's important to add that by the end of the decade, the race will have already been run. The profession will largely be done-for within five years; something I've written and spoken about extensively (and as recently as today):

https://www.linkedin.com/feed/update/urn:li:activity:6529673667536830464
May 02, 2019 at 11:51 AM
Samanath (Highly likely) says
Most of accounting is using already established methods or mainly just hashing out different pathways and seeing which one is the most cost-effective. A specialized program could do this way more efficiently than any human.
Apr 26, 2019 at 07:31 PM
Aamer (Highly likely) says
The routine jobs will be taken over by AI/Robots
Apr 23, 2019 at 07:54 AM
R. Shackleford (No chance) says
A ton of the stuff accountants do can't be automated. Bookkeeping is obviously screwed, but advisors will be fine.
Apr 17, 2019 at 11:36 AM
antonino (Small chance) says
Because accounting jobs are in constant evolution and isn't only encoding invoices
Apr 05, 2019 at 04:08 PM
Michal says
In my opinion there is no chance, that financial statment audit could be done automatically. There are many procedures, where proffesional judgement is required. Many times there are cases, which need to be analysed individually. For example I can not imagine how machines will decide if amounts which are a result of court settlement are recorded properly in accordance to accounting, tax and other regulations. This rank should be closer to the lawyers where there is 4% possibility. I agree, that book-keeping will be automated, but still verification of financial statements should be done by humans. We should also remember, that there is responsibility, when financial statements are not showing the true condition of the company. So if there is a mistake or fraud who will be responsible for that? Robots?
Mar 29, 2019 at 09:10 PM
not an auditor says
Agree.
Apr 01, 2019 at 01:46 PM
not a person (Highly likely) says
agree.
Apr 30, 2019 at 09:19 PM
Skynet says
Agree
May 02, 2019 at 07:23 PM

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