Will AI replace entry-level accountants?

The accounting industry could stand to take a page from the blue-collar playbook. In this edition, we’re digging into an apprenticeship program that actually works, plus how colleges and firms can develop digital-savvy new hires who can still exercise judgment. For all the spreadsheet lovers out there, we also look at new capabilities of the latest ChatGPT upgrade and explore ways you can quantify client results to create new pricing models. 

But before you jump in, take a peek at the preliminary economic effects of the war in Iran on American consumers.

Trust check: Autonomy may be the secret sauce to preventing employee burnout 

Hush hush: Firms are less likely to share net revenue numbers in 2025 compared to previous years

Pricing reboot: Stop saying yes to everything and start quantifying value with new pricing models 

Numbers nerd: ChatGPT 5.4 increases spreadsheet capabilities, improving its ability to help with “complex professional tasks” (jump to 8:58) 

What buyers want: Swap exit planning for exit thinking, even if you don’t plan to sell your firm

White-collar apprenticeships win big in New England 

In 2019, Liberty Bank, a New England community financial institution, had a problem: there was an internal skills gap, and hiring for even entry-level roles took six months. To address these issues, CFO Paul Young arranged for Liberty Bank to take part in the Registered Apprenticeship for Finance Business Partners program, which consists of hands-on training, mentoring and coursework designed to help participants earn their CGMA designation. Implementing this program has helped the bank expand hiring beyond candidates with accounting backgrounds. 

Why this matters: Hiring outside the box within an apprenticeship framework has helped Liberty Bank improve retention rates while developing employees’ finance, leadership and digital skills. (CFO Brew)

AI doom hype may be overrated

Despite warning bells that professional services like accounting will be completely overtaken by AI within a year, not all technology leaders are buying it. Angela Shi, CEO of Empathetic AI, warns that capabilities such as AI agents shouldn’t be given full autonomy yet. There’s still too much uncertainty surrounding judgment, accountability and data privacy laws. 

Why this matters: Accounting firms must be able to implement proper security guardrails before relying on AI. There’s no clear precedent set on who is responsible for mistakes, data breaches and other risks. (AccountingTimes)

64%

Percentage of companies without financing that still use GAAP for financial reporting (Thomson Reuters) 

• AI mistakes trigger probe of $1.6 million Deloitte report
• Over 1,000 accounting firms worldwide have received private equity investment over the last 10 years
• More software means more data headaches for CFOs
• Small business bankruptcies rise with short-term financing

Are the kids alright? 

The accounting industry continues to face growing concerns about AI reducing the need for entry-level employees while firms also lose seasoned professionals to retirement. But Yvonne Hinson, CEO of the American Accounting Association, places the responsibility of growing a new generation of accountants on schools and accounting firms. She argues that young accountants need to bridge the usefulness of AI with the skepticism of an experienced CPA. Many colleges are addressing this issue by adding AI data science courses into accounting programs. 

Why this matters: Hinson believes that firms should also be involved by incorporating structured learning environments that teach new employees how to use their personal judgment alongside AI.  (Bloomberg Law)

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The Net Gains is curated and written by Lauren Ward and edited by Bianca Prieto.