The Institute of Chartered Accountants in England and Wales (ICAEW) has signed a Memorandum of Understanding (MoU) with Microsoft to expand the use of AI capabilities across the profession.
This collaboration aims to help financial professionals build skills for an AI-enabled workplace.
Access deeper industry intelligence
Experience unparalleled clarity with a single platform that combines unique data, AI, and human expertise.
learn more
Alan Vallance, CEO of ICAEW, said: “This partnership reflects ICAEW’s commitment to helping its members implement emerging technologies in a practical, responsible and professionally standards-based manner.
“CPAs are changing rapidly, and enabling our members to stay at the forefront of technology is an essential part of future-proofing the profession. We look forward to exploring other areas of collaboration with Microsoft.”
The agreement builds on work already underway, with Microsoft contributing to the latest modules of ICAEW’s GenAI accelerator program.
ICAEW has created its flagship Generative AI (genAI) digital training service in response to growing demand from small and medium-sized practices.
A new module titled “GenAI in Professional Practice” was launched this week as the fourth element of the GenAI Accelerator. It was designed with input from Microsoft specialists.
This course is primarily aimed at small and medium-sized accounting practices and explores how genAI can be incorporated into daily workflows and service delivery.
Topics include using genAI to automate elements of client assignments such as audit sampling, enhance financial analysis, and reduce time spent on back-office processes such as billing.
Because the majority of ICAEW members are already using Microsoft tools, the Institute is positioning Microsoft 365 Copilot as a practical starting point for experimenting with genAI.
By working directly with Microsoft, ICAEW has included practice-oriented examples of how to apply Microsoft 365 Copilot in an accounting environment.
Vallance added: “The GenAI Accelerator Program will be of great benefit to ICAEW members, and we are pleased to be working with Microsoft to help our members build their practical AI capabilities.”
ICAEW plans further joint activities with Microsoft, including additional training resources specifically focused on the use of Microsoft 365 Copilot by accountants.
