At dinner with a smart person who knows what he's talking about last night, we started discussing the potential for technology to eliminate grunt work in public accounting. Think interns licking confirmation envelopes (there's an app for that — and it boasts a 100% confirmation return rate, which can't be said for the interns). Or the potential to use technology to test 100% of transactions on an audit.
Or look at how Turbo Tax has all but eliminated the need for H&R Block — and Turbo Tax isn't even particularly disruptive technology.
I'm sure there are many more examples and technology just around the corner that smart guys are coding as we speak that will really change the way you guys work.
PwC has already suggested humans will be replaced by technology soon.
I used to think the technology fanboys were nuts but I'm starting to see it now. What are some of the things you do now that could be automated, freeing you up to do work that actually requires that brain and judgment of yours? Is this future of work right around the corner or is public accounting going to reject already available technology and keep doing things the old way because that's always how it's been done? Curious to hear what you guys think.