Due to the increasing use of GenAI among businesses and enterprises, some companies are looking to GenAI as a replacement for junior time. But is this realistic?
2025 was the year that generative AI (GenAI) entered the field in earnest, albeit tentatively. All four major audit and accounting firms have invested heavily in their own AI models and tools and are beginning to roll out their use. Companies of all sizes are considering GenAI to one degree or another, but some have expressed some degree of wariness about issues such as data security.
And with the increasing use of GenAI in companies and businesses, there is new pressure on accountants and auditors to start reducing junior roles in favor of AI. This is already happening in the Big Four, where the use of AI is more advanced than in other areas of the industry. All four companies will reduce graduate student enrollment by 6% to 29% in 2025.
Companies report that potential clients are looking to the use of AI and junior resources when deciding which audit and accounting firms to work with. One partner at a mid-sized company, who requested anonymity, cited a relatively recent example.
“We were told that there was too much junior time and that AI was underutilized,” they said. “Many of the juniors’ jobs were expected to be done by AI. They said they needed to reduce juniors’ hours and overall fees.”
The partner said that talk of the four major companies cutting back on new graduate hiring appears to be influencing corporate expectations, which are not necessarily realistic.
“AI can certainly make the junior role more interesting. It takes away some of the very tedious tasks, but it complements the junior job and makes it more efficient. But AI is not going to replace the junior role. There aren’t enough tools at the moment.”
Companies are using AI for tax and accounting advice
According to a study by expense software company Dext, 77% of accountants and bookkeepers say their clients are increasingly using AI such as ChatGPT for financial and tax advice. Of these, 72% were used to challenge expert advice, and 68% said a customer had told them that AI could replace their services.
However, that advice is often completely inaccurate. The same study found that only 5% of companies surveyed never had to fix mistakes generated by AI. Of the 95% who fixed these mistakes, 93% estimated that they spent 10 hours per month fixing these mistakes.
How to address AI concerns
Indeed, while companies are leveraging AI and automation to improve efficiency and address talent shortages, there are issues that need to be addressed before relying heavily on them. Companies cited concerns such as data security, product integration, job security, ethics and skills shortages.
“To remain competitive, companies need to hone their training strategies, educate clients on their software choices and increase the attractiveness of the profession, particularly to a more diverse workforce,” said a partner at a mid-sized firm based in the east of England who is part of a Member Insights focus group covering the use of AI.
These concerns are not shared only by mid-level accountants and auditors. Some partners at large enterprises have expressed concern that the transition to using AI will go too far and too quickly, as AI tools cannot do everything expected. The danger, therefore, is that senior auditors and accountants may end up spending more time on remediation work to compensate for the lack of AI or lack of junior staff.
Similarly, there is no agreement among companies regarding the use of AI. Other companies said their customers still expect to have sufficient time with human auditors. Further adoption of AI could alienate those customers.
Training needs
Another business executive said investing in digital skills and training is critical if accountants and auditors are to reap significant benefits from the use of AI. “Several members are deploying AI bots for tax data entry, using AI-powered note-taking and audit analysis tools, and experimenting with new ways to communicate with customers, such as WhatsApp integration. Resistance to change is difficult for staff and customers. The need for digital skills training and careful tool selection is critical to ensuring data security and integration.”
Balance new technology with proven solutions
Small practice owners in Scotland reiterated that customers expect cheaper services through the use of technology. They recommended an approach that uses AI technology sparingly in existing processes to minimize risk, and emphasized the need to review AI output and proceed with caution when it comes to sensitive information.
“Gradual implementation, industry benchmarking and strong data governance can help address barriers to AI adoption,” says the London-based practitioner.
As AI becomes more widespread, training will focus on high-value skills such as critical thinking and professional skepticism, they added. “The future of professional services is likely to lean towards more proactive, real-time advisory work, and AI should be seen as an enabler of transformation rather than a threat to jobs.”
Identify ongoing risks
Midsize companies that experience initial knockback from potential customers have everyone in the company trained on models like CoPilot. “We want to help them become more efficient and find ways to leverage AI in their daily work, such as reviewing hundreds of pages of board minutes.
The company also identified risks, such as the potential for hallucinations, as the use of AI increases. Some very junior staff may use AI without checking how it works, so the company has safeguards in place to deal with that. “We are currently training on the ethical use of AI and are constantly considering next steps to help our employees use AI effectively.
“We’ve found that there’s a lot of efficiency and better quality work, especially if you have a report for management and want to make the presentation more professional. This is really helpful for us.”
The partners concluded by pointing out that traditional roles may disappear or fundamentally change as the use of AI increases. “AI is not going away, so everyone will have to adapt. But there will also be new roles, and we will be training those graduates in data analysis.”
