In this extract from Important Work: A History of Irish Chartered & Certified Public Accountants, authors Brenda Clerkin, Bríd Murphy and Martin Quinn reflect on the place of trust and accountability in modern accounting, where complex technologies such as AI play an increasing role, and how this affects the future of the profession.
Trust has always formed the bedrock of professional accountancy. Yet, public confidence in the profession has periodically been shaken by corporate scandals, audit failures and the global financial crisis. In this context, the rise of AI and advanced analytical tools presents both a chal¬lenge and an opportunity. Paradoxically, if embraced strategically, these technologies may strengthen rather than erode trust in the profession.
As machines take over routine, data-heavy tasks, accountants will increasingly be judged on how they handle exceptions, escalations, risk judgements, anomaly detection and interpretative insights. Their role will evolve from data processors to ‘sense-checkers’ of machine outputs – providing assurance that algorithmic systems (including AI) are properly built, tested, validated and free from bias. In this capacity, the accountant becomes a ‘data guardian’ or ‘model reviewer’, ensuring that AI oper¬ates under sound professional oversight. With automation handling the minutiae, human professionals can focus on higher-value work: exercising judgement, evaluating risk, interpreting scenarios and prioritising what truly matters to clients.
However, the integration of AI also introduces new layers of ethical and governance complexity. Bias, fairness, interpretability and account¬ability become central concerns. A misclassified fraud or a flawed predictive model can expose organisations to severe reputational and regulatory risks. To manage these challenges, accountants must develop strong capabilities in ethics, transparency, explainable AI, and technology governance.
The profession must therefore make ‘ethics + technology governance’ a core pillar of education and continuous development. Beyond internal capability, accountants must engage with regulators and legislators to help shape emerging standards for algorithmic financial reporting, AI auditing and oversight – ensuring that technology serves the public interest rather than undermines it.
Conclusions on the direction of the profession
In the coming years and decades, the accountancy profession in Ireland must evolve from being a labour-intensive, compliance-driven practice into a forward-looking, insight-led, trust-based profession. Technology – AI, automation, data analytics, cloud computing, blockchain – will do much of the mechanical work. But the real value will reside in human judgement, ethical leadership, strategic advisory capacity, risk oversight, domain expertise, client and stakeholder relationships and the govern¬ance of technology.
To succeed, the profession must attract, retain and motivate talent by offering meaningful work, flexibility, diversification and personal devel¬opment. It must revamp education and CPD to build capacity for the ever-changing demands on the profession. It must shed stereotypes of long hours and drudgery, and project a more modern, purpose-driven brand. And, crucially, it must anchor all of this on trust – assuring clients, regulators and the public that even in an AI-driven world, the human professional remains the conscience, the overseer and the guarantor of integrity.
- Important Work: A History of Irish Chartered & Certified Public Accountants will be launched on Thursday, 19 March at 6pm at Chartered Accountants House, Dubin 2.
- You can order a copy of the book in our bookshop.
- You can register to attend the event which will feature addresses by author Martin Quinn, Institute President Pamela McCreedy and a keynote address by Professor of Economics at the University of Limerick, Professor Stephen Kinsella.
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