"Turpentine Finance" with Sasha Orloff | Startup Finance, Leadership, CFO Strategy

E36: From Quill to AI: The Evolution of Accounting with David Hartley, former CIO and CPA

Dec 19, 2024

David Hartley, a seasoned CPA and former CIO, dives into the fascinating evolution of accounting from quill to AI. He discusses the critical role technology plays in the profession today, noting the major challenges and opportunities posed by AI and automation. With 75% of CPAs nearing retirement, he highlights a looming talent gap in the field. Despite advancements, Hartley emphasizes the unwavering importance of trust and human insight, positioning AI as a partner rather than a replacement in the accounting landscape.

51:50

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Episode guests

David Hartley

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Quick takeaways

AI is transforming the accounting profession, offering opportunities and challenges that require adaptation from practitioners at all levels.

The accounting field is facing a significant talent shortage, as many experienced CPAs retire and fewer young professionals are entering.

Trust and human interpretation remain critical in accounting, emphasizing that AI will augment roles rather than fully replace human accountants.

Deep dives

The Evolution of AI in Accounting

There is a growing consensus that AI will significantly improve the accounting profession, driven by advancements in technology. The notion that AI is the worst it will ever be today underscores the rapid progress expected in subsequent years. While many individuals in the accounting field are skeptical about AI, particularly given previous claims that jobs would be eliminated, the current momentum appears more credible. Companies are investing heavily in AI solutions, anticipating enhanced productivity and capabilities that could transform traditional accounting practices.

Intro

3min

The Evolution of Accounting: From Past to Present

19min

Navigating Career Transitions: From Accounting to CIO

5min

The Evolution and Challenges of Accounting Software

2min

The Conservative Nature of CPAs and the Importance of Trust

2min

Navigating AI's Impact on Accounting

16min

Anders CPA: A Mid-Sized Powerhouse

4min

In the final episode of season one, Sasha Orloff is joined by David Hartley, a seasoned CPA with over 30 years of experience, as they explore the evolution of accounting from the 15th century to today's AI-driven landscape and discuss how the profession adapts to technological change while preserving its core value of trust.

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Highlights from the Episode:

Accounting profession is facing its most significant period of change, with AI and automation creating both challenges and opportunities for practitioners at all levels.
There's currently a major pipeline issue in accounting - with 75% of CPAs approaching retirement age and not enough new talent entering the field.
Despite technological advances, the fundamental need for trust and human interpretation in accounting remains paramount, suggesting AI will augment rather than replace accountants.

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Apple: https://podcasts.apple.com/us/podcast/id1786227593

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LINKS:

https://www.linkedin.com/in/davehartley/

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X/SOCIAL:

@sashaorloff (Sasha)

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