The accounting profession is at a tipping point. The traditional focus on compliance—bookkeeping, tax preparation, payroll, and audits—is no longer enough to meet client expectations or sustain firm growth. In a recent webinar, Harnessing AI in Client Advisory Services: The Future of Accounting Starts Now, Brenda Jordan and Kane Polakoff outlined why the shift to client advisory services (CAS), powered by artificial intelligence, is both urgent and transformative.
Why the Shift is Critical Now
For decades, compliance was the backbone of accounting services. But compliance is past-focused—it tells clients where they’ve been, not where they’re going. As Brenda Jordan explained, “79% of clients are now expecting advisory from their trusted finance advisors. They’re no longer just looking for compliance.”
The perfect storm driving this change includes:
- Automation of compliance tasks: Tools now automate reconciliations, bookkeeping entries, and tax calculations, eroding the exclusivity of traditional services.
- Rising client expectations: Businesses want real-time insights, not year-end reports. They expect accountants to act as strategic partners who guide decision-making.
- Technological maturity: AI and automation tools are now accessible, practical, and capable of driving measurable impact.
Kane Polakoff emphasised that clients don’t just want a tax return anymore—they want to know how to run their business better. “It’s no longer acceptable to tell a client they’ll have to wait months for insights. Real-time guidance is becoming the new standard.”
What the Numbers Tell Us
The data paints a clear picture of why firms must act now:
- 79% of clients expect advisory services in addition to compliance.
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- 61% of accountants see AI as an opportunity, though many still approach it with caution.
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- Firms that embraced AI in CAS saw a 17% median revenue growth in 2023, with 99% projected growth over the next three years.
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- Some practices, like Kane’s at CohnResnick, have achieved 60% top-line growth in a single year by leveraging AI and technology-driven advisory models.
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The numbers are not just trends—they signal a seismic industry shift. Firms that move early can establish a competitive advantage, while those that delay risk being left behind.
Challenges AI Helps Solve
While the transition to advisory services is promising, accountants and bookkeepers face real obstacles. AI offers solutions to many of the most pressing challenges:
- Talent Shortages and Burnout
- The profession is struggling to attract and retain talent. AI reduces the burden of repetitive tasks like data entry and reconciliations, freeing staff to focus on advisory work that is both more valuable and more rewarding.
- Manual Processes and Inefficiency
- Spreadsheets, delayed reporting, and disconnected systems have long slowed firms down. AI automates data ingestion, classification, and reconciliation—turning weeks of work into real-time insights.
- Client Demands for Real-Time Information
- Business owners are used to instant access to information on their phones and smartwatches. AI-powered dashboards and forecasting tools allow firms to deliver the same immediacy in financial advisory.
- Delivering Deeper, Personalised Insights
- AI doesn’t just crunch numbers; it identifies trends, benchmarks performance against industry standards, and generates narratives that tell clients why results matter and what to do next.
- Scaling Without Increasing Headcount
- By automating routine work, firms can grow revenue and serve more clients without proportionally increasing staff. This allows scalability while maintaining quality.
The Path Forward
AI is not here to replace accountants—it’s here to empower them. As Jordan and Polakoff stressed, the most powerful model combines technology with human expertise. AI delivers speed, accuracy, and insights, while accountants bring context, relationships, and judgment that technology cannot replicate.
For firms, the challenge is not deciding if to adopt AI and advisory services, but how soon to act. The opportunity is here, the market is demanding it, and the firms that embrace this shift will be positioned as the trusted advisors of the future.
For the full webinar, please click here. Brenda and Kane cover the following topics during this presentation:
• The evolution of CAS and why the shift from compliance to advisory is now critical.
• Key challenges facing accountants and bookkeepers — and how AI and automation address them.
• Practical strategies to increase revenue without increasing headcount.
• Real-world case studies from U.S. CAS leaders, with insights transferable to UK and Irish practices.
• Building a scalable, tech-enabled advisory model that delivers measurable client impact.
The contents of this article are meant as a guide only and are not a substitute for professional advice. The authors accept no responsibility for any action taken, or refrained from, as a result of the material contained in this document. Specific advice should be obtained before acting or refraining from acting, in connection with the matters dealt with in this article.
