AI driving increased use of real-time data by accountants enabling better business decisions, but integrity concerns widespread

A major report, Enabling finance insight, from two of the world's leading accountancy bodies, reveals a clear trend towards greater use of real-time operational data, with more than 60 per cent of finance teams increasing its use over the past two years to support better business insight and decision-making.

This shift from retrospective reporting towards current and forward-looking insights is driven by a greater breadth of data- from real-time operational metrics to unstructured internal text data - and increased use of AI technologies to reshape how data is analysed and interpreted.

The global survey of 1,600 finance professionals also reveals a real shift in the way that finance teams are working with data and IT across an organisation. Traditional silos are breaking down, with almost 60 per cent reporting close collaboration with data and IT teams.

But the research from ACCA and Chartered Accountants Australia and New Zealand (CA ANZ) shows that 93 per cent of finance professionals are concerned by the integrity and verifiability of AI-generated insights. Issues include AI hallucinations, inaccuracies, incomplete data sets, lack of transparency and bias.

These findings underline that awareness must be followed by upskilling in this fast-developing area.

ACCA Chief Executive Helen Brand OBE said: "This research shows how finance teams are evolving from retrospective reporting engines into strategic enablers of enterprise-wide insight. This is a great opportunity, but upskilling is critical. CFOs and finance teams need to lead in the responsible adoption of AI across organisations, ensuring robust training and governance is in place. Critical thinking, sceptical validation and an ethical approach is vital."

CA ANZ Chief Executive Officer Ainslie van Onselen said: "AI is now a core part of the finance toolkit, but it's not a shortcut. CFOs and finance teams need to use it to sharpen judgement and generate real value, not just speed up old processes. That means investing in structured learning and working more closely with IT and data teams. Upskilling isn't optional. It's how you manage the risk."

Data from the survey shows a growing skills gap, with 72 per cent of respondents reporting only basic or no GenAI skills, however 41 per cent are seeking training and upskilling in their own time.

As real-time data becomes central to decision-making, thinking critically about its limits is becoming a core skill.

Globally, the survey showed strategic priorities (45 per cent) and regulatory requirements (43 per cent) are the key drivers of the increase in data analysis to produce insights. While progress is significant, the report highlights the key areas finance functions need to address to improve business insights: data quality issues (42 per cent), lack of appropriate skills (42 per cent), and difficulty integrating multiple sources (40 per cent).

Realising finance's potential as a strategic enabler of insight hinges on developing the right skills and strengthening collaboration. The research examined the talent profile of the modern finance function and found that while ambition is high, execution is threatened by a misalignment between skills and capabilities in areas such as generative AI literacy, predictive analytics, collaboration over coding, storytelling and data governance/ethics.

The report aims to equip CFOs and finance leaders with actionable recommendations to help their teams provide trusted insight, effectively steward data, govern AI responsibly, and drive measurable value for the entire organisation.

Read the report.

Key messages from the report

• Strategic Drivers are shifting how finance uses data
• Need to champion data foundations for success
• Distinguish AI for productivity and AI for value
• Steward data and AI to drive value
• Cultivate critical capabilities
• Roles are evolving as data responsibilities expand
• Support risk mitigation through upskilling and collaboration
• Informal learning is insufficient

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Editor's Note
ACCA is launching The Tech in finance series includes (the first two are live now):

Certificate in Data Analytics for Finance Professionals

• Certificate in Cybersecurity for Finance Professionals
• Certificate in AI for Finance Professionals
• Certificate in Organisational Transformation for Finance Professionals