Artificial Intelligence (AI) is the supersonic tsunami that will continue to replace desk jobs that are digitally centric, "at an accelerated rate." This was what Elon Musk, the CEO of Tesla and xAI, said in his interview last year.
He thinks that there will be actually high demand for jobs, but not necessarily the same jobs. Physical labor jobs and careers that require some element of human interaction are likely to stay around.
“Anything that's physically moving atoms, like cooking food or farming, anything that's physical, those jobs will exist for a much longer time," he said. "But anything that is digital, which is just someone at a computer doing something, AI is going to take over those jobs like lightning."
I have been practicing as a Certified Public Accountant (CPA) for twenty years and at face value, I could ask, is my hard-earned skill, knowledge and profession about to face extinction?
That would be life-changing and career threatening scenario.
But surely, there is a brighter side of the coin to this negative event being faced by professionals who will be impacted by this supersonic tsunami as Musk called it.
The practice of Public Accountancy in the Philippines is not merely a technical occupation. It is a profession anchored in law, ethics, and public trust.
Under Republic Act No. 9298 or the Philippine Accountancy Act of 2004, the practice of the profession includes public accountancy, commerce and industry, education or academe, and government.
A Certified Public Accountant is recognized as someone who:
a. Holds himself or herself out as one skilled in the knowledge, science and practice of accounting, and as a qualified person to render professional services as a Certified Public Accountant;
b. Offers or renders, to one or more clients on a fee basis or otherwise, services such as the audit or verification of financial transactions and accounting records;
c. Prepares, signs, or certifies for clients reports of audit, balance sheets, and other financial, accounting and related schedules, exhibits, statements or reports which are to be used for publication, for credit purposes, to be filed with a court or government agency, or to be used for any other purposes;
d. Designs, installs, or revises accounting systems;
e. Prepares income tax returns when related to accounting procedures; or
f. Represents clients before government agencies on tax and other matters relating to accounting or renders professional assistance in matters relating to accounting procedures and the recording and presentation of financial facts or data.
If we compare public accountancy practice with Elon Musk’s description of digitally centric desk jobs, can we categorize public accountancy practice as a discipline involving physical labor and requiring some element of human interaction to be immune from AI?
Not entirely — but in a positive way.
The worldwide accountancy profession, which includes the Philippines, is regulated because it involves public trust. The public relies on accounting reports issued by Certified Public Accountants in making financial, investment, and economic decisions.
A CPA provides:
Confidence to businesses and investors
Professional assurance to regulators
Accountability in financial reporting
Legal responsibility for negligence or fraud
Any negligence or fraudulent act resulting in loss of trust shall be dealt with by the law and may lead to the loss of license.
Artificial Intelligence does not assume liability. The responsibility ultimately rests on human professionals.
Before practicing the profession, an accountancy graduate must pass the Certified Public Accountant Licensure Examination (CPALE) — a rigorous examination comparable to the bar exam.
Freely and without mental reservation, we take an oath to uphold the ethics of the accounting profession with integrity, objectivity, and competence. These are not programmable attributes. They are professional commitments.
On top of that, artificial intelligence may assist the profession. But it cannot assume responsibility for it. That distinction is critical.
If accountability defines the profession, adaptation ensures its relevance. Artificial Intelligence is no longer approaching the accounting industry. It is already part of it. Automation now handles routine and repetitive tasks that once consumed much of an accountant’s time.
This reality does not weaken the profession. It refines it. When machines take care of process-driven work, accountants are expected to think deeper, analyze better, and guide decisions with sound judgment. Reinvention, therefore, is not a departure from the profession’s foundation. It is a commitment to protect it in a changing environment.
Modern Filipino CPAs are highly tech-savvy, leveraging tools like Xero, QuickBooks, NetSuite, SAP, and Power BI to transition from traditional bookkeeping to data-driven strategic advisory.
Many are already knowledgeable in cloud accounting, automation, and AI for efficient financial analysis even prior to holding their first job due to modern school curriculum.
This created foundation for a Filipino public accountant to be proficient in the use of AI as tools in his or her practice. The audit or verification of financial transactions and accounting records still requires the physical labor of accountant in planning the scope of his audit and doing field work.
Surely, the preparation, signing, or certification for clients of audit reports which are to be used for publication, for credit purposes, or to be filed with a court or government agency, or to be used for any other purposes requires the signature of a public accountant even though he or she uses already AI signature tools to do it.
Likewise, although the design, installation, and revision of accounting system may be assigned to an AI tool already, it still would require a real accountant’s business or managerial decision whether to implement or revise. I would confidently say that the preparation of income tax returns when related to accounting procedures can be done by AI, but it is still an accountant’s final say what to include or not.
When an accountant represents clients before government agencies on tax and other matters relating to accounting, the government agency, judge or court would want someone they can speak with face-to-face. No AI tool can help an accountant who is unprepared to face the scrutiny of a judge or jury.
The practice of accountancy in commerce and industry involves an accountant’s participation in decision-making. But with AI’s progressions, it’s easy to wonder if this technology is slowly replacing a CPA’s decision-making skills. Is the element of human interaction between the accountant and the business owner replaceable by AI?
Apparently, not fully — at least not yet.
According to the latest report of the IT and Business Process Association of the Philippines (IBPAP), the industry is expected to reach:
1.9 million jobs
USD 40 billion in export revenues
More than 8% contribution to the Philippine GDP
This reinforces its role as one of the country’s most important engines of inclusive, modern work.
IBPAP President and CEO Jack Madrid shared that this growth is driven by digital Filipino workers delivering high-value work to global clients.
Digital workers include Filipino bookkeepers and Certified Public Accountants who contributed to positioning the Philippines as a preferred offshoring destination.
In its initial decade, the Philippines was chosen primarily for its cost efficiency and strong labor advantage in bookkeeping and accounting.
However, the country stopped being a one-note market long ago. It is no longer dominated by customers who are focused only on cost arbitrage.
Today, AI presents less costly alternatives, especially for repetitive bookkeeping tasks that are highly vulnerable to automation. But this shift does not weaken the position of Filipino accountants.
Instead, it pushes the profession to move beyond routine tasks and focus more on higher-value work such as analysis, advisory, and strategic support.
As AI reshaped day-to-day operations across the accounting industry, it:
Accelerated productivity through automation
Enhanced service quality
Increased digital fluency
Strengthened problem-solving skills
Trained professionals in higher-order capabilities
This transformation reinforced the shift toward more complex and value-driven accounting roles in the industry — an opportunity Filipino bookkeepers and accountants are more than ready to handle.
In our experience at D&V Philippines, we have seen clients recognize the value delivered by their assigned Filipino bookkeepers and accountants. In many cases, clients have chosen to align compensation and benefits with those received by their counterparts in their home countries.
This reflects a shift in perception from viewing offshore professionals as cost-efficient resources to recognizing them as integral members of the finance function.
Our Finance & Accounting (F&A) services continue to focus on quality, accountability, and continuous improvement. And the use of AI tools has further strengthened our ability to deliver consistent and reliable results to our clients.
Filipino bookkeepers and accountants have long proven that we thrive in an environment where instructions are clear, communication is direct, and expectations are well defined.
With the advancement of modern IT communications and digital platforms, collaboration with local and foreign companies has become more seamless. Decision-making processes are more transparent, and accountability is more structured.
In this kind of setting, performance improves — not merely because of the availability of tools, but because responsibilities are properly understood.
When expectations are clear:
Reporting becomes more reliable
Compliance becomes more consistent
Communication becomes more efficient
Decision-making follows a more structured and disciplined approach
Filipino accounting professionals perform well in structured environments where both local and foreign managers value transparency and precision.
Quality bookkeeping and accounting are not limited to accurate figures.
They also involve:
Consistency in execution
Timeliness in submission of reports
Responsiveness to client inquiries
Careful review before finalization
In my observation, Filipino accountants gradually move from performing assigned tasks to understanding the broader business objectives behind those tasks. They begin to appreciate how financial data supports operational direction and long-term planning.
In commerce and industry, numbers do not always speak for themselves. There are situations where judgment is required — particularly when circumstances are uncertain or evolving.
This is where good accounting judgment becomes essential, as:
a. Clarity supports performance.
b. Quality builds confidence.
c. Sound judgment sustains long-term professional relationships.
Another important advantage of Filipino bookkeepers and accountants is language proficiency and cultural adaptability.
With over three hundred years of Spanish colonization and almost fifty years of American tutelage, Filipinos have been exposed to Western systems of governance, education, and business practices. English is taught at a very young age and remains widely used in academic and professional settings.
This foundation allows Filipino professionals to communicate comfortably with foreign clients.
However, effective communication is not limited to fluency. It also involves:
a. Understanding client instructions
b. Knowing how to interpret financial information within the proper business context
c. Recognizing the intent behind reporting requirements and compliance standards
d. Responding clearly and professionally in both written and verbal communication
In cross-border engagements, misunderstandings do not usually arise from language alone, but from differences in expectations and interpretation. A Filipino bookkeeper or accountant must be able to appreciate not only what is being asked, but why it is being asked.
In my experience, this ability develops over time. As familiarity with the client’s business grows, communication becomes more precise, and coordination becomes more efficient.
Language may begin the conversation, but it is understanding that sustains it.
In the case of D&V Philippines, we send our Filipino bookkeepers and accountants to attend accounting conferences abroad and to meet their foreign clients and the client’s team.
These engagements allow them to:
Interact beyond routine reporting
Understand the client’s working environment
Strengthen professional relationships
A bond with a Filipino bookkeeper or accountant often goes beyond the assignment itself.
We remember and remain grateful to our clients.
Over time, this creates a sense of responsibility and empathy that strengthens collaboration with their foreign clients and the client’s team.
It becomes a service mindset that does not feel purely transactional.
Lastly, in my almost twenty years of experience in the finance and accounting outsourcing industry, even with the advent of AI, I have observed a consistent pattern.
A Filipino bookkeeper or accountant assigned to a foreign client would most likely come fresh from local corporate practice or audit. During the initial period of assignment, he or she shows dedication in understanding the process and making it part of his or her daily routine.
After six months and throughout the year of assignment, a different mindset develops.
There is a desire to do more.
That person begins to ask for challenges worthy of the accounting profession.
Over time, this growth can be seen in:
a. Taking initiative beyond assigned tasks
b. Demonstrating deeper understanding of the client’s business
c. Showing willingness to assume greater responsibility
d. Seeking opportunities for improvement
Once the client recognizes that zeal, it becomes easier to retain the bookkeeper or accountant in the role because gratitude develops and respect grows over time.
The professional is no longer viewed simply as external support, but as someone who understands the direction of the business.
Over time, a task-based engagement develops into a collaborative working relationship — one that supports the continued growth of the client’s organization.
Artificial Intelligence continues to change many professions. Certain tasks will become automated. Some roles will evolve. New expectations will emerge.
The accounting profession is not exempt from these changes.
It becomes vulnerable when work remains repetitive, purely transactional, and entirely digital.
However, a Filipino accountant who upholds professional standards, adapts to new technologies, and remains committed to continuous improvement does not become obsolete.
In practice, relevance is sustained by:
Upholding public trust and accountability
Exercising sound professional judgment
Adapting to technological advancements
Building meaningful and lasting relationships
Artificial intelligence may handle large volumes of data and automate processes. But it cannot replace empathy, responsibility, and the ability to connect with clients.
As Manuel V. Pangilinan, Chairman, President, and Chief Executive Officer of Metro Pacific Investments Corporation, once said:
“AI can handle enormous mountains of data and automate repetitive and increasingly complex tasks, but it can’t replace the human touch — our empathy, our ability to connect, and our capacity to navigate through emotions or crises. These are the qualities that will keep you relevant, not just as professionals, but as people. In a world where technology does the heavy lifting, it’s your ability to bring understanding, compassion, and insight to the table that will truly set you apart.”
In the same way, the Filipino accountant’s ability to combine competence with empathy allows him or her to remain relevant in an artificial intelligence-driven business environment.
What begins as daily tasks can mature into a trusted partnership.
And in that partnership lies the true edge of a Filipino accountant.
Building accountability in the age of AI requires the right balance of systems, people, and processes. Having the right support team in place helps turn this balance into real, measurable results.
At D&V Philippines, we are a reliable outsourcing company specializing in finance, accounting, and data analytics. If your organization needs assistance in your accounting automation efforts, our professional accountants are always ready to help. Schedule a free consultation with us today to learn how we can help you.
You can also visit our website or download our whitepaper, The Rising Frontier: Harnessing the Power of Business Analytics for more information on how we can help you leverage data to drive your business forward.
This article has been written in collaboration with Angelica Garcia, a content specialist at D&V Philippines.