To help firms use AI effectively and responsibly, ICAEW has launched the GenAI Accelerator - an eight-course programme offering practical guidance, real-world use cases, and demonstrations of generative AI in finance.
In ICAEW’s 2025 Evolution of Mid‑Tier Accountancy Firms research, 81% of mid-tier firms identified upskilling employee capabilities as a top technology investment priority for the next three years. While AI is only one element of the wider technology landscape, its increasing presence in everyday workflows means it is becoming an area of focus for many practices. As firms look to make effective, informed use of AI tools, a clear understanding of how AI works and how to apply it responsibly, is essential.
ICAEW’s GenAI Accelerator comprises eight courses made up of bitesize modules, each focusing on a critical aspect of GenAI in finance. The programme is designed to be practical and accessible, offering step-by-step prompting guidance, real use cases, and demonstrations that show how GenAI can be applied in authentic accounting and finance scenarios.
The first module, Fundamentals of GenAI, is available now, and is free to all ICAEW members. This module introduces the core concepts behind GenAI in a structured, objective, and accessible way, helping accountants gain confidence in an area that is rapidly shaping the profession. The programme provides up to eight hours of verifiable CPD.
Why understanding GenAI matters for accountants
Accountancy work depends on accuracy, careful judgment, and strong ethical standards. GenAI can support these in these areas, but only when professionals understand both its capabilities and its limitations.
- Supporting everyday tasks
Many routine tasks in practice can be made more efficient through thoughtful use of GenAI tools. Drafting documentation, summarising client information, preparing report frameworks, or conducting exploratory data review can all be accelerated with appropriate prompting. The Fundamentals of GenAI module equips learners with the foundational knowledge needed to use these tools critically, ensuring outputs are reviewed and validated, rather than taken at face value. - Encouraging responsible adoption
AI introduces new considerations around confidentiality, data handling, bias, and transparency. For practitioners working with sensitive financial and client information, this is a significant factor. The fundamentals module covers these ethical and regulatory aspects, helping accountants maintain professional standards while making effective use of new technologies. - Building a base for more advanced applications
GenAI is increasingly relevant across audit, tax, advisory services, and practice management, often through familiar software platforms. Staff may encounter AI-enabled features without fully understanding how they work or how to judge their reliability. The fundamentals module helps bridge this gap by providing the essential knowledge needed to evaluate new tools with informed scepticism and to contribute confidently to discussions about quality control, risk, and governance.
Preparing for what comes next
Those who complete the Fundamentals of GenAI module will be well placed for the upcoming module GenAI in Professional Practice (coming soon). This next stage will explore how AI can be applied more directly across reporting, audit, tax, advisory and practice management to support productivity and service quality. A solid grounding in the fundamentals will help practitioners engage with these applied topics more effectively.
AI will continue to influence how accountancy work is carried out, not in the distant future, but today. Building a clear understanding of the fundamentals is an important step in helping practitioners navigate this technological shift with confidence and professionalism.
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