The evolution of technology has greatly changed the accounting profession, especially in tax preparation. Essentially, the tax preparation process has dramatically become faster and more efficient since more information has become readily available in the digital format. Although the tax preparation professionals are more likely to survive and thrive in the foreseeable future, tax preparers face stiff competition in the sector due to the advances in technology. Also, customers are now being offered with new and efficient ways to file their taxes and have a wide range of choices with additional financial as well as accounting services at their disposal, which they might need.
The use of automation in various industries has meant a lack of opportunities and in how professionals conduct their tasks. For this reason, most accounting professionals are left to focus on more advisory tasks. A good example is the use of AI that has tremendously reduced the audit and taxation processing times ( Onuonga, 2016) . Many companies are taking advantage of technology to outpace rival accounting firms through enhanced efficiency and increased level of services. Today, most of the traditional accounting and bookkeeping tasks that were ones cherished by accountants are being performed by artificial intelligence. The technology executes many tasks, which initiates payments and matches purchase orders. In some accounting firms, automated data entry systems and data categorizations are used to analyze broad financial trends ( Onuonga, 2016) . AI also used to analyze claims in healthcare, for several accounts, which assists in identifying potential issues in advance. Although humans mainly do a transaction, payroll, auditing, as well as tax remittances are automated.
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To understand how artificial intelligence is changing the accounting procedures, it is necessary to understand how firms once used labor-intensive procedures and how technology is currently doing the job through convoluted contract. Also, advances in technology will result in the deskilling of accounting professionals ( Onuonga, 2016) . This is the process through which the introduction of technology eliminates skilled labor within the accounting sector. Many accounting firms have benefited from deskilling since it results in cost saving as a result of reduced investment in human capital. The use of AI reduced the barriers to entry and minimized the bargaining power of human capital. In this regards, the introduction of AI in the accounting sector reduces the working positions of accountants through the machinery introduced to separate accountants from tax preparation.
Once computerization was achieved, the reduction of office information to standardized bits coupled with the processing of other office systems made it easy for the management to reduce the workload. As a result, most accounting firms increased output as a result of computerization ( Onuonga, 2016) . The process has several implications for management. First, they would be able to achieve more with less labor. Also, the labor they require would be less skilled. As a result, with the reduction in workforce, the remaining employees would be required to upgrade their output. For this reason, the advances in technology have reduced the number of accounting professionals by more than a third, with additional computerization or automation in prospect.
Future Research Plan
The future research should focus on the effects of deskilling of professional accountants as a result of reliance on technology. The process occurs as humans stop using their professional skills and forget them, especially in the performance of prior tasks. The investigation should focus on the factors that can be used to explain the deskilling of professional in the accounting sector and the recommendations necessary to enable employees with minimum training to upgrade their output.
Reference
Onuonga, W. (2016). Technological Unemployment: Implications of automation in Retail Banking and Small Accounting Firms (Doctoral dissertation, Cardiff Metropolitan University).Retrieved from https://repository.cardiffmet.ac.uk/bitstream/handle/10369/8354/9057_Wycliff_Migisi_Onuonga_Dissertation_108005_443777862.pdf?sequence=1&isAllowed=y.
