Chartered Accountants Ireland has announced a new partnership with enterprise Robotic Process Automation software firm UiPath.

The Institute says it is the first professional accountancy body in the world to begin formal training and official examination of students in this area and equipping them for practical application to business.

From October 2019, c.1,300 CAI students will begin to study and develop practical skills in Artificial Intelligence, Robotic Process Automation, data preparation and data analytics, blockchain and cryptocurrencies as part of a shake-up of the Institute’s education programme for final year students.

CAI says the development will create a new pipeline of skilled graduates ready to fill sought-after roles in industry and private practice, many of which did not exist five years ago as firms ramp up their own investment in new technologies to service client work with greater efficiency, accuracy and insight. Currently, c.70% of the Institute’s graduates already work in industry.

Institute president Conall O’Halloran commented: “The role of accountants is changing, and businesses are embracing new technologies faster than ever. This time next year, our final year students will be in a variety of jobs and training roles where they can hit the ground running with newly acquired skills that are still not widely taught. They are now on the path to becoming future business leaders for the post-digital era.”

In Association with

Ian Browne, Head of Assessment & Syllabus, Chartered Accountants Ireland, said: “We have created an entire new blueprint for the delivery of accountancy training in emerging technologies, and trademarked our assessment frameworks as part of the process. This change will equip a new generation of accountants with better tools to do their job and add value to businesses, employers and clients right away.

“It’s also really exciting when you consider the possibilities for small and medium-sized companies. This has the potential to democratise access to emerging technologies for a broader cross-section of companies over time, as more and more students graduate and enter the workforce with a range of organisations.”

According to finance minister Paschal Donohoe: “Ireland has the potential to be a global leader and location for innovation in financial and technology services. I welcome the collaboration between Chartered Accountants Ireland and UiPath, Tableau and Alteryx to meet the evolving needs of Ireland’s financial services sector."

UiPath sales director Michael Ellis commented: “A lot of attention and resources within UiPath are directed towards office workers upskilling and reskilling while automation and AI are reshaping the workplace. Our software robots have been assisting the accounting industry for several years already, improving efficiency, reducing costs and errors, and boosting employees’ morale.”

Photo: Finance minister Paschal Donohoe (centre) with CAI students Sarah Ryan of EisnerAmper and Supreeth Mohan of HLB Ryan. (Pic: Iain White Photography)