10 essential trends finance leaders need to know

By Beth Wallace

Accounting and finance teams are entering a new era in which artificial intelligence (AI) and other digital technologies are infiltrating every aspect of the profession. These developments, alongside constantly evolving regulatory requirements, are driving teams to upskill and reassess the nature of their work.

Here are 10 accounting trends reshaping the profession — and how to prepare for them.

1. AI is no longer optional

AI is spawning new ways for organisations to operate and compete.

The CPA Australia Business Technology Report 2025 shows that businesses using AI are achieving greater accuracy, efficiency and productivity, along with better employee experiences. With AI’s influence reaching areas from data analytics and management accounting to taxation reporting, professionals can move away from routine tasks and concentrate on higher-value tasks.

However, only nine per cent of Australian respondents report widespread AI use in their business, compared with 21 per cent in Mainland China and 18 per cent in Hong Kong and Singapore.

Many still rely on free or off-the-shelf solutions such as ChatGPT and Microsoft Copilot, which highlights the considerable potential to adopt AI tools more strategically.

Audit and assurance is one area being transformed by AI. Tiffany Tan FCPA, audit and assurance lead at CPA Australia, believes the technology is quickly becoming integral to contemporary audit practices, reshaping methodologies and expectations. “AI is redefining audit and assurance by enhancing quality, efficiency and insight,” she says.

“For the audit profession, embracing AI is not optional. It is essential for staying competitive and meeting stakeholder expectations in an increasingly data-driven environment.”

AI, especially agentic task-performing systems, will automate many routine accounting activities, says Professor Michael Davern FCPA, chair of accounting and business information systems at The University of Melbourne and a member of CPA Australia’s Reporting and Assurance Centre of Excellence. As a result, the profession’s centre of gravity will shift from execution to critical thinking, narrative building and insight generation.

“AI is going to automate so much for us, so that’s why we need to be broader in our storytelling about how a company is performing,” he says.

Davern sees this mirrored in sustainability and service-performance reporting, which requires richer disclosures and metrics about an organisation’s performance. “That is where we leverage our skills as accountants — in describing the activities of the business in different ways and telling the story about what is going on,” he says.

“I think it is going to change the nature of accounting back to where we have to use our judgement, expertise and years of experience to be able to problem-solve and tell stories in ways that only human beings can.”

Beyond AI, the key tech trends disrupting the infrastructure that supports the profession include cloud enterprise resource planning (ERP) adoption, real-time data analytics, embedded finance platforms and advanced process automation, according to Mitchell Pham ONZM FCPA, director of CodeHQ in New Zealand and Vietnam.

“Cloud and integration tools enable real-time, cross-border reporting, which is critical in the Asia-Pacific (APAC) region’s rapidly digitalising economies,” he says.

“However, adoption rates and outcomes often depend on local infrastructure: advanced financial hubs like Singapore are ahead, while less-developed markets face challenges.”

4. Digital reporting set to rise in ANZ

Australia and New Zealand are among the few developed markets still accepting financial reports in PDF format, even though eXtensible Business Reporting Language (XBRL) is now used in over 60 countries.

However, change may be coming. In Australia, the Productivity Commission has recommended mandatory digital financial reporting for disclosing entities. In New Zealand, there are ongoing calls to adopt digital reporting, which is a move CPA Australia and Davern strongly support.

 

"For the audit profession, embracing AI is not optional. It is essential for staying competitive and meeting stakeholder expectations in an increasingly data-driven environment."

 

“If we don’t move quickly to digital reporting, we will lose the ability to control the narrative, because it is in tagging the data in XBRL that you are actually building what things are defined as,” he says.

Although AI systems can extract information from unstructured sources such as PDFs, Davern explains that they struggle to interpret nuanced facts. When data and definitions are structured through XBRL, AI models can generate insights that are more accurate, consistent and trustworthy.

Humans can then apply judgement to interpret them. “That becomes absolutely crucial to that storytelling component,” he says.

Cybersecurity expertise has become non-negotiable for businesses, with the rise of AI and the pending arrival of quantum computing broadening the threat landscape.

“As AI tools become increasingly integrated into financial systems and workflows, it also introduces new cybersecurity vulnerabilities that businesses must proactively manage to prevent substantial financial and reputational damage,” says Gavan Ord, CPA Australia’s business investment and international lead.

“While AI can be game changing for businesses, it is also arming cybercriminals with sophisticated tools and expanding the ways they can execute scams and attacks.”

Financial services are among the APAC region’s top targets for ransomware and data breaches, and Australia is the second most targeted country for cybercrime in the region, according to CrowdStrike’s 2025 APJ eCrime Landscape Report.

Pham warns that audit, taxation and retirement savings will face greater scrutiny as regulatory demands intensify. “Building baseline cybersecurity proficiency, implementing robust controls and partnering closely with IT are now core finance competencies.”

6. Changes to hiring and training

Seventeen per cent of respondents in CPA Australia’s report are seeing a decline in hiring for entry-level or junior accounting and finance roles. Ord believes this may signal the early influence of AI on hiring practices.

“Mainland Chinese businesses are the most likely to report that AI has reduced junior accounting hires and increased recruitment of accountants with AI expertise, while Australian and Malaysian firms are the most likely to report no impact on accounting and finance recruitment,” he says.

Davern notes that early-career accountants may miss opportunities to perform foundational accounting tasks, as AI and automation tools now handle much of this work. Not having this experience could limit exposure to core processes and reduce understanding of the technology’s limitations.

He stresses that firms and universities must redesign pathways so early-career accountants can “learn the basics” in an AI-driven environment.

7. Sustainability as a business enabler

CPA Australia’s environmental, social and governance (ESG) lead, Patrick Viljoen FCPA, says the perception of sustainability is changing within the accounting profession.

“We’re seeing a shift from sustainability as a compliance burden to sustainability as a business enabler,” he says. “When organisations align ambition with credible action and transparent accountability, they unlock new opportunities for innovation, stakeholder trust and long-term profitability.”

With Australia legislating climate-related financial disclosures aligned with International Sustainability Standards Board (ISSB) standards and similar initiatives underway throughout APAC — including in Hong Kong, Singapore and Japan — integrated financial and non-financial reporting is becoming a regional norm.

Accounting and audit teams in Australia would be wise to upskill on sustainability standards such as ASSA 5000 and AASB S2, Tan says, while implementing strong internal controls for ESG data to ensure audit readiness. “Leveraging technology for real-time data consolidation, anomaly detection and automated ESG reporting will be critical,” she says.

 

"AI is going to automate so much for us, so that’s why we need to be broader in our storytelling about how a company is performing."

 

Tan also encourages audit teams to strengthen AI governance by establishing risk assessment frameworks and training staff on algorithmic bias and transparency before integrating AI tools into audit methodologies.

“Stay ahead of regulatory changes by monitoring updates from the IAASB [International Auditing and Assurance Standards Board], AUASB [Auditing and Assurance Standards Board] and regional bodies, and actively engage in consultations and industry forums.”

Upskilling in sustainability reporting can boost careers, Viljoen adds.

“With mandatory climate-related disclosures now in effect for larger businesses, accounting professionals should consider deepening their sustainability expertise,” he says. “Organisations are increasingly looking for and value professionals who can interpret environmental data, assess risk and translate these insights into actionable plans that drive long-term business value.”

As businesses expand internationally, audit plays a crucial role in ensuring consistent, reliable financial reporting across borders.

Frameworks such as the International Auditing and Assurance Standards provide a common language for auditing and assurance, enabling consistency and trust. “Whether auditing in Sydney, Singapore or Seoul, professionals apply the same principles, ensuring comparability and reliability of financial information worldwide,” Tan says.

“Audit firms and professional associations such as CPA Australia operate globally, offering shared resources, methodologies and training to navigate complex cross-border engagements.”

Yet Tan warns that local regulations may differ. Understanding these nuances when applying global standards will ensure audit quality is maintained.

While working across borders adds complexity, audit is uniquely positioned to lead, she adds.

“Its foundation in global standards means the profession is not starting from scratch — it is building on a strong, internationally harmonised framework that supports trust and transparency across borders.”

9. Digital finance transformation

Digital finance has evolved from basic digitalisation, such as scanning documents and using simple software, to advanced automation, AI-enabled intelligence and, eventually, toward autonomous finance operations.

“In the coming years, mature organisations will operate with real-time data and AI-driven continuous close and predictive financial insights,” Pham says. “For digital transformation, start with cloud ERP implementation, automate high-volume transactions, invest in high-quality data governance and reskill teams to become strategic business partners with advisory skills.”

10. Essential human skills

Critical thinking and communication will remain essential skills for accounting professionals. However, Dr Amantha Imber, founder of inventium.ai and host of the How I Work podcast, believes AI fluency will be the true differentiator.

There’s now a significant divide emerging between professionals and accounting firms, Imber says. Those that invest heavily in AI technology and also upskill their teams to achieve high AI fluency — unlocking productivity gains and enhancing their decision-making — will be far ahead of their competitors.

Her advice to organisations is to upskill staff immediately. “People who are just dabbling with Copilot or ChatGPT are at a distinct disadvantage relative to those who are embracing the technology and thinking strategically about what to do with the time saved,” she says.

Tan believes that the ability to understand, interpret and leverage AI-driven insights will define future success.

She encourages professionals to learn AI fundamentals — not to code, but to evaluate and apply AI responsibly. “Professionals should understand concepts such as machine learning, natural language processing and algorithmic bias to ensure ethical and effective use,” she says.

Critical thinking and professional judgement will become even more important, Tan adds. “AI can process data, but it cannot reason like humans do, for now. Humans must question assumptions, validate data sources and maintain professional scepticism.”

Collaboration will likewise be key. Tan urges audit teams to work closely with IT teams, data scientists and risk specialists to bridge technical and assurance perspectives. “Above all, embrace continuous learning through micro-credential programs and AI-focused audit workshops, and stay aligned with emerging standards.”

Build future-ready finance capabilities

Mitchell Pham ONZM FCPA, director of CodeHQ in New Zealand and Vietnam, outlines key steps to thrive in the digital world.

• Embrace automation: Identify and automate the most repetitive processes first, such as accounts payable and expense management.
• Invest in AI literacy: Seek out training or certifications relevant to a given finance role.
• Upgrade to cloud ERP: If not already in place, advocate for real-time data infrastructure.
• Prioritise cybersecurity: Involve finance staff in regular security training and incident planning.
• Focus on strategic skills: Develop data analysis and communication skills to support decision-making throughout the business.