The Impact of Automation on the Future Role of Accountants: Opportunities and Challenges

Abstract

The accounting industry is undergoing a change thanks to automation technologies like blockchain, robotic process automation (RPA), artificial intelligence (AI), and machine learning (ML). This study examines the potential benefits and drawbacks of automation as it relates to the changing function of accountants. In order to examine how automation affects financial reporting, auditing, management accounting, and taxation, the study examines theoretical viewpoints, empirical data, and case studies. The study also assesses the skill requirements for aspiring accountants, ethical issues, and regulatory ramifications. According to research, professional accountants will continue to be essential for governance, strategic advising, and judgment-based positions even as routine and rule-based duties become more automated. A study agenda for further investigations is included in the paper's conclusion, along with suggestions for educators, practitioners, and legislators.