Still in High Demand: ICAEW's Release on AI and Mid-Tier Accountancy Firms, May 2026

On May 22, 2026, the Institute of Chartered Accountants in England and Wales, ICAEW, published a release titled "UK accountants still in high demand despite AI jobs shift, ICAEW report finds." It reports ICAEW's research into the evolution of mid-tier accountancy firms. Managing partners and chief executives of 35 mid-tier ICAEW member firms took part, between February and March 2026, according to its notes to editors, which add that "The full report is available on request."

Parts of the release follow, not the whole.

Demand, Hiring and the Role

The report, in the release's account, found that while more than two-thirds (68%) of firms felt that AI "would reduce demand for some early-career accountants," the vast majority (83%) agreed "that this wouldn't directly result in fewer roles overall."

"Firms turn to school leavers over graduates," one of the release's summary lines reads. ICAEW said that mid-tier firms "would likely hire more school leavers and fewer graduates." Those decisions on trainees, it said, "were likely influenced by the recent increases in employer national insurance contributions, changes to Level 7 apprenticeship funding and the impact of employment rights legislation." Three-quarters of the firms "were expected to increase their hiring of people with expertise in specific areas," among them data analytics and technology.

ICAEW also forecast that the role of the accountant "would pivot from routine compliance and reporting to judgement, interpretation and ethical oversight by 2030." Its chief executive, quoted in the release, said that "the nature of early-career accounting roles is expected to change as technology absorbs routine work, creating both opportunity and tension."

If tools absorb the routine work, as the release expects, a firm still needs another way to grow the judgment it says the role will turn on.

Technology in the Firms' Strategies

Most of the firms noted that their technology strategy explicitly includes AI adoption, and most expect increased use of AI and automation in their operating models over the next three years. AI "is already used across core service lines as well as internal knowledge management and client support."

Two in three firms are putting money into upskilling, as less than a fifth (17%) "believe they are able to assess the impact of AI on their workforce." The challenge now, in the chief executive's words, "will focus upon how tech can be integrated at pace but responsibly, and how talent can be developed and retained at a time when roles, skills and career pathways are evolving quickly."