The Rise of AI in UK Accounting: Blending Technology with a Human Touch

The world of accounting is changing in exciting ways. Where once spreadsheets and manual processes ruled the day, new technologies like generative artificial intelligence (AI) are now opening up fresh possibilities. These tools are helping accounting firms work more efficiently and support clients in new and dynamic ways.

We’re proud to be working on an exciting project funded by Institute of Chartered Accountants Scotland (ICAS), exploring how AI is impacting professional judgment. It’s a fascinating collaboration with leading professors from the University of Manchester and Aston University, and we’re thrilled to contribute to such an important area of research.

Supporting Professional Skills with Smart Tools
Generative AI, such as ChatGPT, can quickly produce summaries, responses, and insights based on the information it’s given. This can be incredibly helpful when it comes to managing large volumes of data or finding a starting point for further research. That said, no matter how fast or clever these tools may seem, they don’t replace the depth of knowledge and careful judgement that accountants develop through years of experience and ongoing learning.

Even the most advanced AI can occasionally produce results that aren’t quite right. That’s why it’s so important for professionals to double-check AI-generated outputs, especially when it comes to providing advice based on financial data. The role of the accountant remains vital in interpreting this information and making sure it’s accurate and appropriate for each client’s unique situation.

The Importance of People
While technology continues to evolve, the heart of accounting lies in strong relationships. Many clients prefer speaking directly with someone who knows their business and understands what matters most to them. Being able to ask questions, share concerns, and receive personalised guidance is something AI simply can’t replicate.

Empathy, clear communication, and human connection are at the core of great client service. These qualities help build trust and ensure clients feel supported every step of the way, something we take great pride in at Beever and Struthers.

Embracing AI for Operational Efficiency
AI really shines when it comes to streamlining repetitive or time-consuming tasks. Whether it’s bookkeeping, data entry, or reconciling accounts, many of these processes can now be handled more efficiently with the help of AI-powered software. Platforms like Xero, Sage, and Silverfin are already incorporating these tools to help teams work smarter, not harder.

By freeing up time on the admin side, accountants can focus on the work that makes the biggest difference, such as helping clients plan for the future, solve complex challenges, and achieve their financial goals.

Good Judgement Still Matters Most
At its core, accounting is about using good judgement and professional scepticism to ensure information is reliable and accurate. AI doesn’t have the benefit of experience or context, and it certainly doesn’t know what it feels like to help a client through a tough financial moment. That’s why it’s so important to view AI as a helpful assistant, not a decision-maker. We will always need to review, question, and interpret the results that AI tools provide, using their knowledge and experience to guide clients in the right direction.

Keeping Data Safe and Sound
One area where care is especially important is data protection. Accountants work with sensitive information every day, and ensuring that data is kept safe and secure is a top priority. While some AI tools come with strong security features, it’s crucial to make sure that no private information is shared that could risk client confidentiality.

Clear policies, thoughtful data handling, and trusted systems all help to protect client information and maintain compliance with regulations like GDPR. As firms begin to explore AI’s potential, strong governance around data privacy is more important than ever.

Looking Ahead
At Beever and Struthers, we’re excited about the opportunities that AI presents, but we also believe that people will always be at the centre of great accounting. By embracing new technology thoughtfully and responsibly, we can deliver even greater value to our clients, while staying true to the personal service and integrity that have always defined our approach.