AI Cannot Replace Wisdom in The Accounting Sector - DPM Fadillah

KUALA LUMPUR, Nov 20 (Bernama) -- The accounting profession must never succumb to automation alone, but must instead be strengthened with human integrity, wisdom and moral considerations, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

He said that although technologies such as artificial intelligence (AI), blockchain and big data are now capable of generating financial reports, detecting suspicious transactions and interpreting data with high accuracy, the foundation of the profession remains rooted in human values.

According to him, technology is just a tool, while its benefits depend on the integrity, intention and wisdom of accountants who shoulder the trust of ensuring fairness, transparency and accountability in every report.

“As sophisticated as AI is, it cannot replace human wisdom, honesty, judgment, moral values ​​and the wisdom of professional accountants. Accountants who master technology without neglecting integrity will remain relevant and become the country’s main asset.

“This profession is not just about managing numbers, but building confidence, stability and trust in society and the country,” he said at the opening ceremony of the National Accountants Convention 4.0 (KAN 4.0) here, today, which was also attended by the president of the Association of Malay Chartered Accountants (AMCAF) Mohd Nasri Ismail.

Fadillah, who is also the Minister of Energy Transition and Water Transformation, said the accounting landscape is now changing rapidly, making the role of accountants more strategic when they are no longer mere record keepers, but rather drivers of critical organisational decisions.

He said the profession needs to be empowered to be able to face global risks, economic uncertainties and increasingly complex technological transformation.

He also stressed that the assessment of organisational success today is not only profit-oriented, but also covers the impact on society and the environment through Environmental, Social and Governance (ESG) compliance.

In this regard, he said accountants play an important role as guardians of values ​​in ensuring that ESG reporting and monitoring is carried out transparently and consistently in line with the aspirations of MADANI Malaysia.

“With integrity and determination, the good we build through ESG will continue to grow the country's prosperity. A strong accounting profession will contribute to a stable and competitive country,” he said.

-- BERNAMA