Compiled by Diane C . Walsh Editor , COMMERCE

Over time , the profession evolved from giant ledgers kept with manual entries to sophisticated ways of collecting , sorting , and reviewing data . Accounting firms are now on the front lines of the technology revolution as they find more and better ways to accomplish their work and serve their clients . Given the pivotal role accountants play , COMMERCE Magazine decided to ask managing partners at leading firms to discuss the emerging trends in the profession and how they will change the future of accounting .

Citrin Cooperman Advisors LLC Steven J . Poliseo Partner

Many changes are on the horizon for the accounting profession , and at the forefront is technology and its expanding uses . With the growing usage of artificial intelligence and automation bots and the normalization of hybrid work environments , technology has become engrained in the day-today lives of accountants . The rapid adoption of technology in the workplace means that keeping up to date is not just a necessity , but a requirement of doing business in today ’ s world . Exchanging the repetitive manual tasks that accountants and administrative staff have performed for years with automated technology-based processes will be essential to a firm ’ s success .

At Citrin Cooperman , we have a strong drive to explore and implement technology in everything we do in order to stay ahead of the curve . By utilizing technology to automate systems and create more efficient processes , our professionals can focus on strengthening the deep industry knowledge our clients need and expect from us . As the technological environment continues to change , we look forward to future developments that can help us improve our service offerings and create efficiencies for our clients .

CLA David Capodanno Principal

Software like machine learning and artificial intelligence can process large amounts of data and perform tasks such as bookkeeping , financial reporting , and tax preparation .

◾ Cloud computing – Cloud computing offers benefits such as increased flexibility , reduced costs , and improved collaboration .

◾ Blockchain – Blockchain technology can help increase transparency and security in accounting by providing a tamper-proof and decentralized ledger .

◾ Data analytics – As businesses generate more data , data analytics tools are becoming indispensable in accounting . These tools can help accountants analyze financial data and identify trends , patterns , and anomalies .

◾ Cybersecurity – Cyber threats are increasing in all aspects of our lives , including accounting . Cybersecurity is critical for accountants who need to secure financial data and protect it from cyberattacks .

◾ Sustainability – With increasing public awareness of environmental and social issues , sustainability reporting is becoming an essential part of accounting . Accountants need to be able to accurately report on a company ' s environmental and social impact .

◾ Remote workforce – The traditional workplace has changed , and the accounting industry is one that can do remote work and be successful at it . We feel we work better together , and – knowing remote work is here to stay – are continuing to enhance our cloud-based software and security to allow employees to effectively engage with their teams and complete their assigned tasks remotely .

Technology , including data analysis and AI , are helping CPAs deliver meaningful value to clients .

Photo : Getty Images / iStockphoto / courtneyk

Cohn Reznick Steven Schinella Office Managing Partner – New Jersey

Technological advances , notably those leveraging artificial intelligence ( AI ), will continue to revolutionize the accounting industry as we know it , improving efficiencies in client service by automating routine audit and tax procedures . This will enable accounting professionals to spend more time on forward-thinking risk manage-

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