‘AI is exciting and terrifying’

Last year, entrepreneurial consultant and podcast host Alexis Kingsbury set up ‘the world’s first 100% AI accountancy practice’. This is what he learnt

You can divide most roomfuls of accountants into those who are excited by the possibilities of AI and those who are a little bit terrified. Alexis Kingsbury is a tech enthusiast who is helping accountants integrate AI into their practices, so you might be surprised by his take. “You should probably be both excited and terrified,” he says.

Last year, Kingsbury built Accrual Intentions – “the world’s first 100% AI accountancy practice”. Initially intended as a spoof, the website showcases ‘team members’, bearing improbable names such as Grace Ledger (Managing Partner), Penny Flow (Operations Director) and Cash O’Clock (Finance Controller). However, as Kingsbury built the agentic abilities of his ‘team’ and set it to work on real accounts, the experiment quickly developed into something more profound, prompting him to write a book. “I wrote it as a comedy but, for me, setting up and running an AI practice was devastating at certain points,” he says. “And I use that word purposely because there were times when I wondered, ‘What’s the point of humans now?’”

“One of the most important things that people need to get their head around is that this is not a technology shift – it’s a human one”

Alexis Kingsbury, Author and podcaster

Happily, Kingsbury – who co-hosts the long-running De-Stress Your Business podcast – emerged on the other side with a positive outlook for both the profession and humanity. “One of the most important things that people need to get their head around is that this is not a technology shift,” he says. “It’s a human one.”

Kingsbury was astounded by what his AI accounts team achieved, but they did make mistakes – and, without human involvement, something crucial was missing. “Having taken this to the extreme, I’ve concluded that 100% AI firms are a terrible idea,” he smiles. “AI is just a foundation layer. The big question is, ‘What do we add on top?’ AI won’t remove the need for humans to have conversations with other humans.

“Twenty-five years ago I was providing IT support for two contact centres for DHL,” says Kingsbury, “and 70% of my job was turning computers off and on. But computers have got a lot better since then so 70% of my job has disappeared. Does that mean we no longer need IT jobs? No, we need them more than ever. And the same goes for accountants.”

‘What does private equity mean for talent?’

Will Farnell is co-founder and Partner of TC Farnell Clarke, a Norwich-based practice that became part of the private equity-funded TC Group in March 2025. A year on, we ask the author of The Human Firm for his take on the impact of outside ownership

“There’s a point at which private equity (PE) is certainly defining the market at the moment,” says Will Farnell. “Whichever side of the fence you sit on, it’s either an opportunity to be part of something larger with access to plenty of capital, or an opportunity to say, ‘We’re proudly independent’.”

For Farnell, the attraction of becoming part of the TC Group lay to a large degree in the local autonomy that his team were promised – and the fact it works to a revenue-based model rather than a profit-driven one. Farnell remains a partner but had already stepped back from many of his day-to-day responsibilities – and he and his team retain 49% of the business.

“There’s a perception that private equity is the same kind of model across the board, but that’s far from the case”

Will Farnell, TC Farnell Clarke

“Things haven’t changed too much other than we now have a ready-made audience of firms within the group to work for,” says Farnell. “For our clients, it’s been very much business as usual – we’ve changed the name and the logo, but that’s about it.

“There’s a perception that PE is the same kind of model across the board, but that’s far from the case,” he adds. “There are lots of choices and opportunities but, equally, there are big questions for the profession as a whole. For instance, where is it taking the marketplace, and where will investment in AI and technology lead us? Also, what does it mean for talent? Are we going to see more offshoring in the push for profits?”

The shift from partnerships to PE may of course influence the career trajectories of future CAs. “My view is that the profession has often underpaid people on their career journey on the motivational premise that one day you can become a partner,” says Farnell. “But if those partnership models disappear, what does that do to pay structures and progression frameworks? So it’s a really interesting environment right now. There are definitely benefits to PE, but there are also some big downsides that I think we need to spend more time thinking about.”

But Farnell also sees lots of positives in other aspects of market disruption. “Because of the current economic environment, clients need us more than ever,” he says. “As a profession, I think we still have a perception problem but AI can help with that because it’s changing the skillsets of the accountants of the future. We’ve got to stop doing things that are robotic and automatable, and focus on the things that aren’t – it really is that simple. Where can we have more conversations? Where can we deliver human empathy? Where can we provide the insights of human intelligence?”

‘Marketing at scale and affordably is easier than ever’

James Sundin is co-founder and ‘Chief Evangelist’ of Represent – a business that promises to ‘build better accountancy practices’. So what can this ‘rugby-playing mountain man of the north’ offer firms worried about growth?

For any practices which feel that winning new business is getting tougher, James Sundin is quick to flip that notion on its head. “The options that are now available for marketing ourselves, at scale and affordably, are significantly better than they ever have been,” he says.

“You don’t need newfangled ideas or to pump loads of money into SEO or ad spend. You simply need your potential clients to see proof of what you can do. Can they see your case studies? Can they see videos showing how much your clients love your practice? These are the fundamentals of what every firm needs to do, but the vast majority don’t do it properly.” 

“You don’t need newfangled ideas or to pump loads of money into SEO or ad spend. You simply need your potential clients to see proof of what you can do”

James Sundin, Represent

The company Sundin co-founded – Represent (styled R.E.P.R.E.S.E.N.T.) – is also an acronym (reach, engage, position, relevance, environment, strategy, evidence, nurture, target) for the sales and marketing framework it advocates.

“There’s obviously a lot to it but the whole thing is built around foundation, momentum and scale,” he says. “It requires you to think carefully about where your clients are and where you need to be to engage with them. What are your potential clients looking for? And how do you make it as easy as possible for them to talk to you? At Represent we attract our ideal clients with good human energy, authority and unbiased credibility. It’s the same with successful accountancy practices.”

Sundin believes that sales conversion is often a misunderstood process. “For instance, there’s something interesting about sales that is very counterintuitive,” he says.

“If you give somebody the opportunity to say no and they do, it saves you wasting your time and theirs by following up with them. But if they don’t say no when they have the opportunity, they usually end up closing the deal themselves by saying, ‘Yes, it’s right for me and here are the reasons why.’ You’ve been a helpful adviser to them but they’ve made their own choice because they know it’s a good one – and they feel empowered by that.”

The ICAS Practice Conference 2026 is on 16 June at Radisson Blue Hotel, Glasgow, 09.00–18.00. Find more information and book now