Ethics more important in the age of AI, CPA says

Trust, judgement, and ethical accountability cannot be automated; the AI-transformation simply increases the relevance and responsibility of accounting professionals, Peter Tonagh, chair at Nine and executive chair of Quantium, said recently.

On 23 March, CPA hosted a gala dinner in Sydney to celebrate its 140th anniversary, featuring Tonagh as a keynote speaker, at which the accounting body emphasised the role of AI in shaping the future of the accounting profession. It noted the other major technological shifts that the profession has seen, including the introduction of ledgers, spreadsheets, calculators, and enterprise systems.

CPA said that as technology advances, each innovation adds greater value by elevating analytical insight and professional judgement.

Currently, accountants are using AI to process large volumes of data, automate routine tasks, and generate first drafts of analysis. These applications free up professionals to focus on higher-value work.

“AI is extraordinarily good at handling repetitive, rules-based work — reconciliations, standard reporting, compliance checks,” Tonagh said.

“But AI is not wise. It does not have judgment, and it cannot be held accountable. That responsibility will always rest with a professional – a CPA,” he added.

Despite the effectiveness of AI for these tasks, CPA Australia chief executive Chris Freeland (pictured) said the rise of AI was making the profession’s ethical foundations more important.

“As one of the oldest professional accounting bodies in the world, CPA Australia has seen technology come and go – but the need for trusted, accountable professionals has only strengthened,” Freeland said.

He stressed that the profession’s values are permanent: integrity, objectivity, competence, and professional behaviour.

“AI is already playing a meaningful role in how accountants work, and CPA Australia is investing in capability, guidance, and education so members can use these tools confidently and ethically,” he added.

“AI will change how work is done, but it will not replace the human judgment, integrity, and trust that define the CPA profession.”