Data analysis & AI literacy top skills for accountants

Caseware has published findings from an IDC study showing that data analysis and AI literacy are emerging as the most important skills for accounting professionals. The survey also indicates that many firms are still not well prepared to retrain staff to use AI effectively.

The research covered more than 1,000 audit and accounting professionals worldwide and examined how firms are introducing AI into audit and accounting work. It found that firms are embedding AI in broader strategy, using it in selected functions or running pilot projects as the profession adapts to changes in workflow and client expectations.

Data analysis ranked as the top skill in an AI-driven environment, cited by 33% of respondents. Technology and AI literacy followed at 28%, while critical thinking ranked third at 14%. Ethics, governance and oversight stood at 13%.

The results point to a gap between firms' ambitions for AI and their readiness to support staff through the transition. Only 28% of respondents said they were very or extremely prepared to reskill or upskill employees for effective AI use. By contrast, 72% said they were only moderately, slightly or not at all prepared.

Another finding suggests that many in the sector believe the audit operating model needs broader change alongside the adoption of new tools. Some 67% of respondents agreed or strongly agreed that the profession needs a transformative rethink of execution, reorganising procedures while embedding AI at every stage of the workflow.

The study also examined where respondents see the main opportunities for firms to generate more value for clients. The largest share, 39%, said this would come from combining AI and advanced analytics to improve risk identification and deliver deeper insights.

Others pointed to deeper industry specialisation to provide more tailored advisory services, cited by 21%. Enhancing collaboration with clients throughout the audit cycle was named by 14%, while 13% said redesigning audit processes to make them more agile, technology-enabled and client-focused would offer the biggest opportunity.

Skills shift

The findings suggest that AI is changing not just the tools used in audit and accounting, but also the skills expected of professionals. Traditional strengths such as judgement and scepticism remain important, but firms increasingly need staff who can work with data, challenge outputs from AI systems and understand how those systems fit within regulated professional work.

"The profession is approaching AI with a clear strategy for creating value," said Mickey North Rizza, Group Vice-President, Enterprise Software, IDC. "However, success in the AI era will depend on organisations that invest in data and AI literacy, set expectations for explainable and auditable AI and develop the skills needed to work confidently alongside intelligent systems."

Firms are already using AI and related techniques to improve audit quality through stronger risk assessment and more extensive data analysis, according to the study. It also found that organisations are automating routine processes and analysing financial trends and forecasts to produce deeper client insights.

Career impact

Respondents also described a shift in how work is allocated between junior and more experienced staff. AI-supported tasks, including administrative support, information gathering, data review and pattern detection, were seen as suitable for first-year professionals.

For second and third-year professionals, respondents said AI could support areas such as initial drafting of deliverables and technical research assistance. This suggests firms may begin to reshape early-career roles as automation takes on some routine work and staff move more quickly into review, interpretation and client-facing tasks.

The study found that 76% of respondents believe AI will fundamentally transform audit within the next decade. This level of agreement suggests the profession expects structural change rather than isolated process improvements.

Caseware Chief Executive Officer David Marquis said the findings show that investment in people will matter as much as investment in software.

"AI won't replace auditors and accountants; it will redefine what they do," Marquis said. "The profession's value will increasingly come from judgement, interpretation and strategic insight. Firms that invest in both AI and their people will be best placed to seize that opportunity."