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The robots are coming
Automation is coming and accountants know their world is going to change dramatically in the next five years, says FreeAgent’s COO Kevin McCallum.
Talking PQ magazine through its ‘The Future of Accountancy’ report at Accountex, McCallum said no one would be surprised that 96% of accountants think the robots will be well and truly among us by 2022.
Accountants don’t think they will be surplus to requirements though. Some 74% of respondents said that only some accountancy work will be automated. However, nearly two-thirds (62%) did not think their day-to-day tasks would be the same as those they perform today.
McCallum emphasised that on top of these seismic changes there is a lot in the pipeline for accountants to deal with, including Brexit and the government’s attempt at Making Tax Digital. There is also the little matter of the General Data Privacy Regulation, IR35 and PSD2 (the second payment services directive) on the agenda.
Open banking comes in January 2018 and could be a massive disruptor. FreeAgent had just signed up a deal with Nat West and RBS when PQ went to see them.
• FreeAgent is an award-winning end-to-end cloud accounting solution for mirco businesses
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