Is Technology Reducing the Need for CPAs?

Rob Nixon

Technology is disrupting the business models of many professions and industries—law, financial services, wholesale supply chains, retail sales and international sourcing. In the accounting profession, there are three main focuses of disruption: compliance is being commoditized by technology, labor is being sourced from less expensive countries, and individuals turning to the Internet instead of professionals for advice. Cloud technology specifically is being used to disrupt accounting practice, and many CPAs may not even realize that this is happening.