Generative AI for Accountants

Generative AI is already part of everyday accounting work — drafting client communications, analysing data, reconciling accounts and preparing reports. Surveys show most accountants are willing to use it, but many firms have not yet put the tools, training and governance in place to support safe use. KiwiGen.AI helps accounting and finance teams adopt generative AI deliberately, keeping human judgement and accountability firmly in control.

CA ANZ’s AI Resource Centre brings together insights, tools and guidance to help accounting and finance professionals understand and apply AI responsibly. It covers core AI concepts, ethics and governance, and practical tools and applications — a profession-specific starting point for building AI capability without compromising accuracy, confidentiality or professional standards.

AI in accounting practice

Adoption is real but uneven. In CA ANZ research, 70 percent of chartered accountants were already using generative AI and 85 percent were willing to — most often through public tools such as ChatGPT or Copilot for drafting, summarising, data analysis, reconciliation and reporting. Accountants generally see AI as augmenting their work rather than replacing it, and a majority hold that the value they provide cannot be replaced by automated systems. AI may produce a forecast, flag an anomaly or draft commentary, but an accountant still decides whether the result is reliable, relevant and appropriate for the decision at hand.

Getting value from AI depends on more than good prompts. Generative AI can invent sources, omit important qualifications or produce inaccurate calculations, so review should match the risk of the work — a routine internal email may need only a light check, while a tax interpretation, financial forecast or client-facing report should be reviewed by someone with the appropriate technical knowledge. A sensible starting point is work where the effort is high, the risk is manageable and a qualified person can readily verify the result.

Governance, confidentiality and ethics

The most immediate risk is the information entered into AI tools. Some services retain prompts or use submitted data to train future models, so entering client, personal or commercially sensitive information can disclose more than intended. Firms should understand a provider’s data-retention, model-training and security arrangements, use anonymised or fictional information for testing, and tell staff clearly which tools are approved and what information may be entered.

Blanket ‘always’ or ‘never’ rules tend to fail — a total ban pushes staff toward unapproved tools, while unrestricted access exposes confidential information. Controls should instead reflect the sensitivity of the information, the consequences of an error and the strength of human oversight. Responsible adoption is also an ethics and governance issue — spanning fairness, transparency, privacy and accountability, not just IT. Accountants are well placed to lead: their existing duties of integrity, objectivity, professional competence and confidentiality map closely to AI risks, and their role as data guardians — asking where data came from, whether it is accurate, and who remains accountable for the output — becomes more important as AI spreads.

Practical steps for your firm

To move from informal experimentation to safe, consistent use:

  1. Identify current AI use – survey staff and review existing software for public tools and embedded AI features. You cannot govern what you cannot see.
  2. Provide a safe route to experiment – let staff test AI on non-sensitive or anonymised information, starting with high-effort, easy-to-verify tasks.
  3. Assign clear accountability – name a senior owner for AI governance; responsibility for risk and outcomes should not sit with IT alone.
  4. Assess vendors and data controls – check retention, model-training, security, overseas processing and exit arrangements before adopting a tool.
  5. Provide role-based training – cover confidentiality, verification, bias, professional scepticism and accountability, tailored to audit, tax, advisory and finance roles.

Resources:

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This page provides general information about AI governance and accounting practice. It is not professional, legal or financial advice and does not replace the applicable standards, professional obligations or the guidance referenced above.

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