Why only accountants can save accountants from AI

THE Institute of Singapore Chartered Accountants (Isca) recently hosted a workshop with OpenClaw Singapore on artificial intelligence agents, and one thing became very clear from the discussions: AI is no longer a distant prospect for the accountancy profession.

The technology is already reshaping how work gets done, and the pace of change is only accelerating. Yet, full automation still feels some distance away. Why?

From the outside, accounting is often seen as the processing of transactions or the mechanical application of rules. But those who have done the work know otherwise.

Accounting requires judgment, context and interpretation. This is why automation in the sector is progressing more gradually, not because the technology is lacking but because the work itself is far more complex than it appears.

Take a simple example. How would a system deal with a contract that bundles software, implementation services and future upgrades, where payment terms are staggered and performance obligations are not clearly defined?

This is where accounting stops being data and starts becoming judgment.

We have standards, frameworks and checklists, which make the profession look structured and predictable.

But in reality, a number is never just a number. It carries intent, context, risk and interpretation. Two experienced accountants can look at the same transaction and arrive at different, yet defensible conclusions.

It is also natural that there is some anxiety within the profession. When faced with something unfamiliar, our instinct is often to worry.

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Think about the first time you jumped into a pool or rode a bicycle. AI can feel the same. On top of that, constant headlines about job displacement can easily overshadow the opportunities.

What we often overlook is this: While some roles will evolve or be displaced, new roles will also be created.

At the same time, AI has the potential to remove the late nights, the manual checks and the repetitive work that many accountants have quietly endured for years.

This is not the first time the profession has faced such a shift.

Over the past decades, accountancy has evolved from simple record keeping in medieval times, to structured bookkeeping in the merchant era, to enabling control and scale during industrialisation and later to safeguarding trust in modern capital markets.

The next chapter

Each wave of change has reduced manual work and raised the level of judgment and value expected. This moment with AI is simply the next chapter. History shows that the profession does not weaken through change, it becomes stronger.

So why do many AI solutions still struggle in real-world accounting?

It is not a question of capability. It is a question of language. Accounting is the language of business. AI is the language of logic and data.

Very few people today are fluent in both.

That is why I believe this: Only accountants can save accountants from AI. Not by resisting it, but by stepping forward to shape it.

Change will happen whether we are ready or not. Roles will evolve. Some responsibilities will shrink, while entirely new ones will emerge. The real risk is not job loss, but being unprepared for how the profession is changing.

And that is where the opportunity lies.

The next generation of accountants will be the fortunate ones. They will not have to spend nights reconciling spreadsheets, chasing documents or repeating manual checks. Much of that work will be automated.

In its place, they will do more thinking, more advising and more decision-making.

Therefore, accountants must proactively develop the skills and confidence to work effectively with AI tools. Greater AI fluency will also enable them to guide how the technology is implemented within their organisations, ensuring that it is applied with the right level of professional judgment and governance.

If we want a future where AI strengthens the profession rather than weakens it, then accountants must take the lead.

The writer is CEO at Isca, which is launching an AI Fluency Programme for accountancy professionals in June 2026. Supported by the Infocomm Media Development Authority, the programme is offered at no cost to Isca members, Singaporean citizens and permanent residents.