Third of accountants feel jobs threatened by technology

Accounting professionals have a ‘love/hate’ relationship with technology according to research by CV-Library which found accountants are first in line when it comes to valuing technology in the workplace more than any other industry, but are among the most concerned about technology advancements threatening their jobs

A third (35%) of those working in accounting feel their job is threatened by technological advancements in the industry, while nationwide only 25% of employees fear automation. An above average proportion (40%) also  feel that increased tech and connectively has a negative impact on their work-life balance.

Increasing commoditisation of accounting services, greater audit automation and full digitisation of tax processes such as expenses reporting and PAYE through HMRC's means that in the long term, more junior roles will become obsolete.

Virtually all (95%) of accounting professionals believe being tech-savvy makes them more employable, significantly higher than the national average of 86.2%.

In addition, the majority of accountants (85%) feel that access to and understanding of new technologies is essential to success, compared to 74.5% across all industries.

Lee Biggins, CV-Library founder and managing director, said: ‘Access to the latest technology can help accounting organisations attract strong, tech-savvy candidates, which will ultimately help to support in employee retention. However, as concerns around automation increase nationwide, responsibility falls on employers to reassure their workforce of job security whenever possible.’

The online job site surveyed over 2,400 people across all sectors on their views on technology in the workplace. 

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Pat Sweet |Reporter, Accountancy Daily [2010-2021]

Pat Sweet was the former online reporter at Accountancy Daily and contributor to the monthly Accountancy magazine, pub...

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