For CPAs who use it well, automation can take over some of the more mundane, time-consuming tasks. For CPAs offering advisory services, an estimated 80% of advisory time is used for processing information — just the sort of thing automation is built for. With so much effort devoted to tasks a machine could do, CPAs and their clients alike may begin to wonder if the CPA could just be replaced by this incredible technology.
Many accounting firms barely broke even in the last 12 months. The extra workload has created tired and stressed staff, amongst whom mental health issues became more frequent. With limited recovery time from the constant stress of delivering the same high standard of work, coupled with additional headaches dreamt up by the government, many accounting professionals are at their wit’s end.