As AI reshapes the accounting profession, firms must rethink how they attract, retain, and empower talent. The future accountant isn’t being replaced, they’re being elevated.
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As AI creates new opportunities for more strategic, engaging work, many accounting firms are finding it harder than ever to attract and retain the talent they need. However, forward-thinking firms see AI not as a threat, but as a solution to the talent crunch — and a way to stay ahead of the competition.
By freeing staff from mundane, repetitive tasks, AI is opening the door to critical thinking, advisory capabilities, and problem solving. Firms that embrace this evolution and invest in culture, upskilling, and purposeful technology will differentiate themselves from the pack. Will your firm be one of them?
The real problem: The talent crisis meets a changing profession
The accounting profession is in a bind. The demand for qualified tax professionals is growing, but the supply is dwindling. According to the 2025 State of the Tax Professionals Report, one in four firms cite staffing as their number one challenge, and nearly two-thirds report that recruiting new employees is highly or somewhat difficult.
Retaining talent isn’t any easier … 50% of firms list retention as a top concern. However, this problem isn’t just about hiring; it’s a deeper misalignment between outdated job structures and the expectations of today’s workforce.
During a recent webinar, Paula Vienneau, senior implementation consultant at Thomson Reuters, put it this way: “It’s no longer about knowing every nuance of the tax law. AI can do that. Our value is now in understanding why the rules exist and how they apply to complex client scenarios.”
This approach requires a shift in mindset about the role of an accountant. By harnessing AI, the traditional view of accounting is transformed. No more tedious data entry work or monotonous review. Even junior staff can now engage in strategic thinking and client problem-solving work that was once reserved for senior partners.
Instead of viewing AI as a replacement for accountants, today’s firms must realize it can elevate their role. But to fully embrace this mindset, leaders must let go of traditional hiring models and start building environments where learning, adaptability, and purpose are core to the job.
The AI solution: Redefining the role of the future accountant
By taking on time-consuming, repetitive tasks like data entry, reconciliation, and information retrieval, AI is freeing tax professionals at all levels to focus on what truly matters: critical thinking, interpretation, and nuanced client service.
The old model (where junior staff spent years working their way up through rote memorization and manual work) is quickly being replaced. Today, AI handles the “what,” allowing accountants to focus on the “why” and “how.” This shift doesn’t just level the playing field across all experience levels, it redefines the core skill set and value proposition of the accounting profession — and your firm.
According to the 2025 Generative AI in Professional Services Report, 71% of tax firm professionals believe generative AI should be applied to their work. This support signals an openness to change and a desire to move the profession away from simply tax compliance.
With AI managing the mechanical aspects of tax and audit work, even new hires can step into more strategic roles on day one. From a hiring perspective, this means that the accounting profession is poised to offer more fulfilling, intellectually stimulating work to incoming talent, making it more appealing in a competitive job market.
The cultural shift: From risk-averse to innovation-ready
As AI reshapes the future of the accounting profession, the biggest barrier to success isn’t the technology. Many firms struggle because they are resistant to change.
“Failures with implementing AI don’t come from the technology — it’s the lack of change management,” continues Vienneau. She adds, “It’s not just an IT project; it’s a significant change, and you really have to think about incorporating some of those change management concepts.” This underscores a critical truth: adopting AI is not just a technical decision, but a cultural one.
This underscores a critical truth: adopting AI is not just a technical decision, but a cultural one. Firms that cling to risk-averse thinking or treat AI as a short-term fix will fall behind. The future belongs to those who are willing to embrace innovation, rethink traditional roles, and invest in long-term transformation.
Ultimately, the key to recruiting and retaining top talent in this new era lies in answering one essential question, “What’s in it for me?” Accountants want meaningful work, growth opportunities, and purpose. Firms that demonstrate how AI enables a fulfilling career will stand out.
The competitive imperative: Why the time to act is now
According to the 2025 State of the Tax Professionals Report, nearly two-thirds of tax firm leaders say their strategy depends on expanding their client base and making better use of technology and automation. That growth will be difficult, if not impossible, without tools to scale operations and elevate client service. AI enables firms to do both by streamlining internal processes while offering more insightful, personalized guidance.
According to the 2025 Generative AI in Professional Services Report, 95% of professionals believe generative AI will be central to accounting workflows within five years. Yet many forward-thinking firms are already putting AI to work today and gaining a significant first-mover advantage.
These early adopters aren’t just increasing efficiency, they’re also building a reputation for innovation, attracting top-tier talent, and earning client trust by delivering faster, smarter, and more strategic services. Long story short, the time to act is now.
As Michael Kim put it, “Things like 100% tax reconciliations or identifying tax strategies from massive, massive data sets — things like this weren’t feasible in the past, but with agentic AI tools, like CoCounsel, things that were virtually impossible are very much not possible now.”
The implementation roadmap: How to build an AI-ready accounting firm
Building an AI-ready firm requires a thoughtful, step-by-step approach that aligns technology with people and processes. Let’s take a look at a practical roadmap to help your firm implement AI in a way that drives real value and long-term success:
Pull together a group of tech-forward staff to become “champions.” Successfully implementing AI starts with building internal momentum. Identify a core group of tech-forward, curious staff who are excited about innovation and eager to experiment. These individuals don’t need to be IT experts; they just need to understand your firm’s challenges and see the potential for AI to create value.
“Once you decide you want to invest in AI, find those tech-hungry, tech-plus people and present them with an opportunity to change the way people think and work.”
– Michael Kim, director of AI Integration and Customer Success at Thomson Reuters
Identify high-impact, repeatable use cases (e.g., tax strategy templates). Start small with areas where AI can drive measurable results like automating document review, drafting tax strategy templates, or summarizing client communications. These tasks should be common across many engagements and ripe for efficiency gains. Once these pilot projects are successful, scale them across teams to build firm-wide consistency.
Standardize workflows and invest in training. AI is most effective when workflows are standardized, so identifying patterns and applying solutions that fit your firm’s unique structure is key to sustainable adoption. Training is another critical piece of the puzzle. AI tools are only as effective as the people who use them, so ongoing education must be baked into the rollout process. That includes hands-on learning, guided sessions, and plenty of room for questions.
Prioritize change management and communicate the “why.” Equally important is creating a culture of transparency around AI adoption. Leaders should regularly communicate the “why” behind these changes — including how AI supports the firm’s mission, empowers employees, and unlocks opportunities for more strategic work.
Partner with a proven technology provider. Choosing a trusted technology partner with expertise, reliable support, and a clear roadmap for implementation is essential to successfully integrating AI into your accounting firm. Thomson Reuters can help your firm confidently adopt AI with the right guidance, security, and scalability to meet evolving client and staff expectations.
The future of accounting is here
By embracing an AI-powered transformation, your firm will not only survive the talent crisis — you’ll lead the next era of tax and accounting.
If you’re ready to capitalize on this opportunity, learn more about how Thomson Reuters CoCounsel can help you attract and retain top talent while giving your firm a competitive edge.
