ACCA Orbit 2025 Explores AI’s Transformative Impact on the Future of Accounting

The Association of Chartered Certified Accountants (ACCA) has reaffirmed its commitment to preparing finance professionals for the future by hosting ACCA Orbit 2025, a summit focused on the role of Artificial Intelligence (AI) in shaping the accounting profession. Held at the UPSA Auditorium under the theme ‘AI and the Future of Work’, the event brought together industry leaders, business executives, and technology experts to examine AI’s growing influence on finance and the evolving responsibilities of accountants.

The Urgency to Embrace AI in Accountancy

In his opening remarks, Col. Nobel Carl Doe Dei-Alose, Chairperson of ACCA Orbit Ghana, emphasized the need for accountants to develop AI competencies to remain relevant. He cautioned that professionals who fail to adapt risk becoming obsolete as AI takes on greater roles in financial processes.

“We need to support understanding towards engagements in functions that we should be prepared to handle. As we move forward, you will notice that you cannot avoid them,” he stated.

He further warned that accountants who do not grasp the fundamentals of this technological evolution may struggle to keep pace with modern industry demands.

Will AI Replace Accountants? Experts Weigh In

A key highlight of the summit was a panel discussion on the topic ‘Will AI Take My Job?’, which tackled concerns about automation potentially replacing human accountants. Experts on the panel agreed that AI is an enabler, not a disruptor, shifting the role of accountants from data processing to strategic advisory functions.

Akwasi Adu Boahene, CEO of Fidelity Securities, stressed the importance of embracing this shift:

“The future of accountancy is no longer about just reporting numbers but about deriving strategic value from them. Those who can interpret financial data to inform business decisions will remain indispensable.”

He further noted that while AI enhances accuracy and efficiency, its implementation must be carefully governed to prevent biases.

“Trust and accuracy are the foundations of accounting. AI, when properly implemented, can enhance trust by improving data analysis and reducing human error. But without proper oversight, AI could be misused, eroding the very trust it seeks to build.”

AI as a Tool for Efficiency, Not a Threat

Winifred Opoku-Baffour, Assistant Vice President, Rewards and Governance Lead at Absa Bank, addressed fears of job losses, arguing that AI is a tool to enhance efficiency rather than replace fundamental accounting skills.

“It is normal for people to be afraid, but that fear comes from a misunderstanding of AI’s capabilities. AI cannot replace fundamental accounting skills. Instead, it will help us be more efficient. The key is to embrace it as an enabler, not a threat.”

She stressed the need for upskilling, particularly in soft skills, to ensure accountants remain relevant in an evolving industry.

Norbert Dziwornu, Managing Partner at StartOA, reinforced this view, urging professionals to leverage AI-driven efficiencies while maintaining ethical oversight.

“AI is improving decision-making. We don’t have to be scared; rather, we should know how to use these tools to our advantage.”

Three Key Areas for Accountants to Adapt to AI

Throughout the summit, speakers highlighted three crucial areas for finance professionals looking to integrate AI into their work:

1. Lifelong Learning & Intellectual Curiosity – Staying updated on emerging trends and continuously improving AI literacy.
2. Enhancing Analytical & Advisory Skills – Shifting from data entry roles to offering high-level financial insights.
3. Prioritizing Ethical Considerations – Ensuring responsible AI use to maintain trust and compliance in financial reporting.

ACCA Orbit’s Commitment to AI Education and Career Development

Gloria Boye Doku, Vice Chairperson of the ACCA Network Panel, reaffirmed ACCA Orbit’s commitment to equipping finance professionals and students with AI knowledge.

“There is always this fear that AI is coming to replace us, but through our speakers and panel, we have been informed that AI is here to augment what we are already doing.”

She also emphasized ACCA’s ongoing initiatives to expose finance professionals to new technological trends through summits like ACCA Orbit 2025.

The event also featured a career fair, offering employability and digital skills training, as well as masterclasses on blockchain, cryptocurrency, and the gig economy. Additionally, 50 top-performing ACCA candidates in taxation, audit and assurance, financial management, and other disciplines were recognized for their outstanding achievements.

About ACCA

The Association of Chartered Certified Accountants (ACCA) is a globally recognized professional accountancy body dedicated to advancing finance and business expertise. Established in 1904, ACCA supports a diverse global network of over 252,500 members and 526,000 future members across 180 countries. Through its forward-thinking qualifications and continuous professional development programs, ACCA equips finance professionals with business acumen, ethical judgment, and the skills required to drive sustainable growth in organizations worldwide.