ICAEW has signed a memorandum of understanding with Microsoft to help boost AI skills across the profession.

Making the announcement Alan Vallance, ICAEW Chief Executive, said: “This collaboration reflects ICAEW’s commitment to helping members adopt emerging technologies in ways that are practical, responsible and aligned with professional standards.

“Chartered accountancy is changing at pace, and enabling our members to stay at the forefront of technology is a vital part of futureproofing the profession. We look forward to exploring other areas of collaboration with Microsoft.”

Working on GenAI Accelerator

The collaboration has already started with the software giant contributing to the latest addition to ICAEW’s GenAI Accelerator Programme.

The Institute’s flagship e-learning offering on generative artificial intelligence (GenAI) was developed in response to increasing demand from small and mid-sized firms, who said that the absence of sector-specific support was a key barrier to adoption.

Experts from Microsoft worked with ICAEW on the ‘GenAI in Professional Practice’ course which has launched this week and forms the fourth element of the GenAI Accelerator.

The new course focuses on how small and medium-sized accountancy practices can transform their operations by using GenAI. It covers automation of client work, such as audit sampling; improving financial analysis; and streamlining administrative activities, including billing.

With a significant proportion of ICAEW members using Microsoft software, Microsoft 365 Copilot offers an accessible entry point for GenAI adoption. Working directly with Microsoft has ensured the course has real-world, practical insight into the use of Microsoft 365 Copilot in an accountancy context.

Vallance, said: “The GenAI Accelerator Programme will be of huge benefit to ICAEW members, and I am delighted that we are working with Microsoft to support members in building practical AI capability.”

ICAEW has confirmed that future initiatives with Microsoft will include further accountant-specific learning focused on Microsoft 365 Copilot.