AI in Accounting and Bookkeeping

What 500+ Australian accountants and bookkeepers are seeing in practice — from early adoption to real-world application.

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The Power of Applied AI Report provides:

 Data on how Australian firms are using AI today
 Insight into where AI delivers the most value
 Analysis of common risks and challenges
  A framework for applying AI effectively in your firm
 Insights from 500+ Australian accountants and bookkeepers

👉 Download the report to apply AI with greater clarity and confidence

The Power of Applied AI Report: How firms are embracing AI in 2026

AI adoption is accelerating across accounting, but results are mixed.
This report uncovers how firms are really using AI today, where it’s creating risk, and how to apply it in a way that delivers accuracy, control, and measurable impact.

AI adoption is accelerating across accounting, but results are mixed.
This report uncovers how firms are really using AI today, where it’s creating risk, and how to apply it in a way that delivers accuracy, control, and measurable impact.

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Download the report

Insights from 1,500+ accountants and bookkeepers
  Research across UK, Canada, and Europe
 Real-world data on AI usage, risks, and outcomes

👉 Get the full picture of applied AI in practice

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AI is moving fast. Results aren’t guaranteed.

AI is becoming part of everyday accounting workflows.

Firms are adopting new tools to automate tasks, improve efficiency, and scale their operations.

But adoption alone doesn’t guarantee results.

76% of Australian accountants and bookkeepers have seen an increase in clients turning to tools like ChatGPT for financial, tax or bookkeeping guidance. Many of these tools weren't built for accounting — leading to inconsistent outputs, increased errors and additional time spent reviewing and correcting work.

This report brings together research and real-world data to show what's working, what isn't, and how Australian firms can apply AI more effectively.

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The reality of AI  in accounting today

AI is widely used,  but not always trusted. In many cases, firms and their clients are relying on general-purpose AI tools for financial decisions without the necessary controls.

The consequences are already clear:

87 %
Report wasted time fixing AI mistakes
94 %
See increased error frequency
63 %
Report financial losses linked to AI use
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Not all AI is the same

There is a clear difference between AI built for general use and AI designed for accounting workflows.

Public AI
 General-purpose tools
  Limited control and verification
 Outputs that require significant validation

Applied AI
 Built for specific financial tasks
 Designed for accuracy and auditability
  Integrated into existing workflows

Understanding this difference is key to applying AI successfully.

 

Where AI is creating challenges

Alongside these benefits, firms are also facing new risks.

Common issues include:

  • Incorrect expense categorisation

  • VAT/GST errors

  • Flawed tax advice

  • Payroll inaccuracies

These challenges increase the need for oversight, validation, and stronger controls.

What to consider when adopting AI

As AI becomes more embedded in workflows, firms need clear criteria for evaluating tools.
Key considerations include:

Data control

Accuracy and reliability

Auditability of outputs

Fit within existing workflows

Risk management and safeguards