New standards, environmental, social and governance (ESG) reporting and evolving career and customer expectations are redefining the accountant’s role. AI and automation are likewise driving rapid change throughout the profession. To help accountants navigate the year ahead, Vipul Sheth, managing director at Advancetrack®, shares his thoughts on emerging trends.

1. AI and risk

Many firms are using AI, but only in low-risk environments such as drafting emails or summarising discussions. While many firms think AI and automation can solve their problems, we believe they’re only part of the solution and need to be used alongside other tools. Using AI for production is a ‘when’, not an ‘if’ but it can only proceed as fast as the firm’s risk appetite allows.

2. A new business model

I believe we’re heading towards a business model where a core team is the face of the business and an engine room is located elsewhere, perhaps outside the country. The more tech-enabled you are, the more global your footprint can be.

3. Changing skill sets

I expect more firms to supplement their time with people who have different skill sets – those who understand the importance of customer service, for example, and are comfortable with tech. This opens up opportunities for a varied career in accounting – or perhaps we should say in a tech business that happens to be focused on accounting.

4. Talent vs tech

It’s important to invest in technology but I think it’s even more important to invest in people who can get the most from it. Only 13% of firms we surveyed for Advancetrack’s Accounting Talent Index 2025 thought that AI would lead to staff losses. The remaining 87% were just about evenly split between those who expect their employee numbers to stay the same and those who expect their workforce to grow.

5. Outsourcing and offshoring

There’s no indication that the talent shortage will ease this year, which signals continuing demand for outsourcing and offshoring. Advancetrack’s compound annual growth rate in the 15 years to 2023 was 60% with no acquisitions. We’ve grown 70% in the past two years.

6. A different leadership style

Leaders must be brave enough to rip up the playbook. As new skill sets are required, you’ll need to surround yourself with talented people and then leave them to get on with their job. Fostering a culture where employees aren’t afraid to say ‘no’ to leaders is as important as trust-based leadership.

7. Cybersecurity

Advancetrack pioneered standards certifications and uses advanced technologies to protect sensitive data. Within the accounting profession, I expect to see more demand for greater transparency in areas such as where data is held, whether it’s anonymised and where it goes.

8. A more strategic advisory role

You should have more time to focus on advisory work, but you may not feel ready to take on the role. You could start by seeing yourself as a professional friend with clients who trust you to have their back and help them achieve their goals. With this mindset you’ll be better placed to offer strategic advice.

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