When I look back on the highlights of my eight years as ICAS CEO, one will undoubtedly be this year’s ICAS Annual Conference. There were so many memorable moments: economist Paul Johnson discussing the then-upcoming Budget, media legend Tina Brown sharing her insights on how the UK is perceived overseas, and astronaut Tim Peake’s inspiring keynote speech, to name just three.

But one quote from the day has stayed with me through the intervening weeks (even if the identity of the speaker eludes me). Discussing AI, one of the panellists told members that the technology will “take the robot out of the accountant”.

That phrase struck a chord with me. It made me reflect on many of the mechanical tasks that were part of daily life, certainly in my junior years of training as a CA. Tasks such as checking batches of ledger postings and bank reconciliations (although I’ll admit to a certain satisfaction when they reconciled).

And now? AI tools such as Dext Prepare can do that in seconds flat. Junior staff no longer have to spend two weeks pulling this info out of ledgers and cross-checking every single detail. By 2030, we’ll look back at these transformative times and recognise that the gradual erasure of our inner ‘robot’ was a good thing.

The ability to adapt and embrace change has always been core to our profession. One study by Sage and Demos last year found that accountants are adopting AI at a faster rate than other sectors, calling us “trailblazers”. This doesn’t surprise me at all.

“There won’t be a one-size-fits-all solution: regulators will need to keep pace with the reality of private equity-backed firms operating across borders”

Yet, as we all know, adjustment doesn’t always come easy. Personally speaking, the sustainability agenda has been a constant learning curve during my time as ICAS CEO. I’ve had to gen up on terms such as ‘embodied carbon’, ‘stranded assets’ and ‘BDGs’ (that’s biodiversity net gains, if you don’t know). But as accountants, we’re always learning. Today, I’m heartened to see many members of my peer generation taking up courses in areas such as carbon-index pricing. It shows our quest to learn remains undimmed.

It’s also important that CAs of my generation learn from our younger members – embracing automation, using data more effectively, gaining fresh perspectives on social issues, understanding the importance of mental health and work-life balance… and yes, how to create a TikTok video to promote our businesses on social media.

Professional evolution also helps ward off complacency and carelessness. This becomes more important than ever when the forces attempting to disrupt our work are developing at an alarming speed. The arsenal of tools available to cybercriminals is becoming increasingly sophisticated, and likely explains why cyber-attacks soared by 50% in the year to September, according to recent figures from the National Cyber Security Centre. Because we’re seen as the gatekeepers to an organisation’s funds, accountants and finance teams are unfortunately on the frontline, and will increasingly be the target for deepfakes and ransomware.

The cyber-attacks faced by companies such as M&S, Jaguar Land Rover and the Co-op during 2025 have taught us that nobody can afford to be complacent. If a board member asks you as a CFO whether you’re confident about your cybersecurity measures, the red-flag answer would be, “Yes, we’re 100% covered.” It’s simply not possible for any organisation to make such a statement. But saying “we have clear plans and policy in place to deal with such an incident” is what I, as a board member, would want to hear and be able to substantiate. Only by embracing new tech, and staying informed about cybercrime, can we better prepare ourselves and our firms.

Revolution at pace

The truth is nobody knows how big or disruptive AI will get. We can’t ignore these epochal changes, but we can’t be afraid of them either. Whatever the size of the practice or business you’re involved in, AI is something you’ll need to run with, because sooner or later your customers and clients will be running with it too.

The accounting profession is also evolving quickly. Just look at the opportunities. Today, the CA qualification can open the doors to all manner of exciting senior and leadership roles – while that’s always been the case to an extent, the game board just gets bigger. Big businesses understand that the nature of our training and experience will strengthen any team. There’s a plethora of new roles in the profession that didn’t exist 10 years ago: ESG accountants, blockchain specialists, data scientists, cybersecurity auditors and experts in tax technology or RPA (robotic process automation).

We’re also well into probably the third major wave of private equity involvement in our sector – and unlike more modest previous cycles, this time it’s game-changing. It’s disruptive, yes, but its presence in the market is inevitable, even if accepting it into one’s firm is a matter of choice. Crucially, it’s bringing much-needed third-party investment at exactly the moment when AI and digital transformation demand significant capital.

This opens up a wider debate about the future structure of firms. Partnerships, corporate models, hybrid structures – it’s clear there won’t be a one-size-fits-all solution: regulators will need to keep pace with the reality of PE-backed firms operating across borders. All this becomes even more complex when firms operate globally, while regulatory boundaries remain national.

Of course, culture matters too. Businesses want accountants who genuinely know them – their history, their challenges, their story. If consolidation or new ownership models dilute that relationship, then clients will react, as is their right. The customer ultimately decides if your strategy is working for them.

Back to the robots again. Yes, AI will take the robot out of the accountant. But there is so much more to us than that. We’re grounded in business experience with an ability to translate and handle complexity, and with a strong ethical DNA – and that’s our strength.

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