• Importance of professional judgement and critical thinking underlined as organisations work to adopt artificial intelligence

• Research from leading global accountancy body ACCA highlights that successful AI adoption will need better understanding from human end-users

Accounting professionals have an important role to play in supporting their organisations to achieve AI adoption and implementation, according to new research from leading global accountancy body,ACCA (Association of Chartered Certified Accountants).

According to the latest in the series of ACCA’s AI Monitor reports, Risk and Responsibility, AI tools augment human capabilities while raising new questions about control, reliability and professional responsibility.

When it comes to classifying AI risks, a couple of immediate threats for many organisations relate to the significant amounts of investment being committed and either unrealistic expectations or poor judgement concerning the potential impact of integration.

While AI continues to promise huge potential, real value remains far more elusive and difficult to quantify.

ACCA believes success will come through combining traditional financial acumen with new forms of technological oversight so as to maintain the profession’s fundamental role as arbiters of trust and integrity. These capabilities don’t replace professional judgement, but ratherunderscore its importance.

Professional judgement and critical thinking will be fundamental to dealing with AI-generated insights. Demonstrating the application of professional expertise and documenting how decisions are made when using AI is important to support transparency and accountability.

Alistair Brisbourne, head of technology research, ACCA, said: “Safely introducing AI into how our organisations work and make decisions isn’t just about technology — it’s about redefining how we exercise things like professional judgement. As regulatory frameworks evolve and AI capabilities expand, success will depend on striking the right balance: leveraging AI’s analytical power while strengthening professional expertise.”

“Traditional concepts of materiality and professional scepticism are being reframed in the context of AI systems that can analyse entire datasets rather than samples during an audit, for example. This shift challenges accountants to think differently about risk assessment and the nature of professional evidence.”

While professionals don’t need to be technical experts, they need sufficient understanding to exercise appropriate judgement. Being an AI specialist in every application is impossible. Instead, the profession needs to develop consistent frameworks that ensure uniformity in language and practice across different projects and applications.

The report points out that accountants are uniquely positioned to harness AI’s potential while maintaining robust safeguards. But their role in AI risk management extends beyond traditional financial controls. Moving forward, their contribution must reflect a three-layered approach: data, architecture, and business impact.

Brisbourne added: “Organisations need to build principles of transparency, accountability and clear procedures for monitoring and improvement into their AI adoption and implementation plans. If they do that, they’ll find themselves well-positioned to leverage new capabilities and meet changing regulatory and stakeholder expectations.”

About ACCA

We are ACCA (Association of Chartered Certified Accountants), a globally recognised professional accountancy body providing qualifications and advancing standards in accountancy worldwide.

Founded in 1904 to widen access to the accountancy profession, we’ve long championed inclusion and today proudly support a diverse community of over 252,500 members and 526,000 future members in 180 countries.

Our forward-looking qualifications, continuous learning and insights are respected and valued by employers in every sector. They equip individuals with the business and finance expertise and ethical judgment to create, protect, and report the sustainable value delivered by organisations and economies.

Guided by our purpose and values, our ambition is to lead the accountancy profession for a changed world. Partnering with policymakers, standard setters, the donor community, educators and other accountancy bodies, we’re strengthening and building a profession that drives a sustainable future for all. Find out more at: www.accaglobal.com