AI drives accounting transformation in China: CPA Australia survey

Core Insights - The CPA Australia survey highlights a significant shift in talent demands within the accounting and finance sectors in the Chinese Mainland due to increased AI adoption [1][2][6] Group 1: AI Adoption and Usage - 92% of surveyed companies reported using AI tools like DeepSeek, a notable increase from 72% the previous year [2] - 21% of respondents indicated their organizations widely deploy AI, up from 9% a year earlier, marking the highest rate among nine Asia-Pacific markets [3] - 65% of participants expect to further increase their organization's use of AI in the next twelve months, a rise of 17 percentage points from last year [4] Group 2: Impact on Employment - 32% of respondents noted fewer hires for entry-level accounting and finance jobs in the last year due to AI handling more routine tasks [4] - 18% of organizations are focusing on hiring staff with AI-related skills within finance and accounting functions [4] Group 3: Cybersecurity Integration - 74% of respondents reported regular use of cybersecurity software over the past year, with 35% fully incorporating it into their strategies and operations, surpassing the overall survey average of 28% [5][6] Group 4: Concerns and Challenges - Despite positive feedback on technology improving efficiency, about two-fifths of respondents expressed concerns about low returns on investment, particularly among SMEs facing resource and technical knowledge constraints [5]