A Resource-Based View of Digital Transformation of Professional Services: Implications for Accountants’ Skills

Purpose – This study examines the impact of digital transformation as afforded by technologies such as artificial intelligence, robotic process automation, and big data analytics on professional services and identifies the key qualities and skills accountants as advisors in professional services firms require. Methodology – Data was collected using semi-structured interviews with predominantly partners in Australian professional services firms, including the Big4 and directors of professional accounting bodies.Findings – The findings show that professional services firms are continuing on a path of rapid growth. The interviewees see the future of their firms in the advisory service areas rather than in traditional compliance-related reporting and auditing work. Despite the increasing use of automation and artificial intelligence in traditional accounting functions, accountants with the ‘right’ mix of technical and social skills will continue to provide value to these organizations.Practical implications - The findings have broader implications for both the accounting profession and the education sector in terms of providing a better and more overt understanding of what the future holds for the profession and the relevant skills required. Originality/value - Evidence from professional services firms provides insights on the accounting profession and the qualities and skills accountants need to work in an increasingly competitive domain, due to digital transformation