In the first of a six-part series, AAT’s Clare Dye shares what can be expected from its new qualifications, with part one having a focus on digital innovation.
In today’s rapidly evolving accounting industry, staying ahead requires continuous innovation. At AAT, we’re shaping our new qualification suite to meet the changing needs of employers and students, equipping accounting technicians of the future with real-world-ready skills.
One of the key threads woven throughout our new qualifications is digital innovation. This is one of the most talked about topics in the industry, driven by evolving technology, a shifting business landscape, and the increasing need for sustainability. These factors are fundamentally reshaping why and how accounting professionals’ work.
The rise of automation and AI
Technology is transforming accountancy at an unprecedented pace. Automation is streamlining processes, while AI and machine learning are revolutionising data analysis. Contrary to some concerns that AI may replace jobs, research suggests that more sophisticated data analytics tools are allowing businesses to make better-informed decisions and grow their teams.
In fact, a Sage report published July 2024, ‘Accountant AI trailblazers to boost UK economy by £2 billion’, revealed practices that have integrated AI into several core processes expect to increase the number of employees in their business by 29% over the next three years; 10 times more than those who are not using any AI technologies.
Indeed, the report predicted that widespread AI adoption in UK accounting practices could create almost 20,000 new jobs in the sector and add £2 billion to the UK economy.
Get future-ready
To ensure our students are ready for this evolving landscape, our new qualifications will embed practical digital skills at every level.
At Levels 2 and 3, students will explore how to accurately process and disseminate financial information, the role of different digital tools, and how to handle data securely.
At Level 4, we build upon this and the focus shifts to the ethical use of technology, risk management in digital systems, and applying professional scepticism in a tech-driven environment. Alongside understanding the impact of digital innovation changes in accounting practice.
As automation supports routine tasks accounting technicians will have time freed up and the opportunity to shift their focus from data crunching to interpretation, advisory work, and strategic decision-making. Critical thinking will become increasingly valuable and accounting technicians need to be equipped to advise on business decisions using insights from financial data, or navigate ethical and security challenges in digital finance. These ‘power skills’ – such as problem-solving, communication and adaptability – are crucial at every level of the profession, from accounting technicians to finance directors and CEOs.
Historically, accounting roles required strong numerical skills, with part of the job focused on manual data processing. But with AI now handling much of this work the profession is evolving.
As we launch our new qualifications we’re committed to preparing students for this new era of accounting – one where digital innovation and human expertise go hand in hand.
For more information visit https://tinyurl.com/38rtmve7
- Clare Dye, Product Manager, AAT
